By Carl C. Henry

#1. Great Sales Managers Set Goals:

They are also masters at goal setting. Like top producers, they see an outcome and focus on it daily until it’s been reached. This shouldn’t be surprising. After all, nearly all-great sales are a result of having a great system, and working it consistently to hit targets. They know that small targets can turn into bigger targets, and that the only way to hit bigger goals is to hit all the smaller ones along the way. By manipulating their daily and weekly goals, they can guide producers to healthy and increasing annual figures.

#2. Great Sales Managers Know The Process:

Great managers understand the sales process, and know that each step is useful. Ask any of them, and they’ll tell you that you can’t skip any steps on route to a sale, and that to try means wasting time and energy. Without prospecting, you have no one to sell to. If the qualifying stage is rushed, you’ll meet resistance when you close, and might experience problems after the sale. Closing itself must be done patiently, working with the client to overcome any fears or objections. For a sale to be made, all the pieces must fit. A strong manager will help his or her producers to keep this in mind, so that they aren’t tempted to try to shortcut the selling process.

#3. Great Product Knowledge:

Another trait of top managers is that they understand the market for their products. They know where what they’re selling fits in terms of price and quality, and use that knowledge to show clients the best options for a given situation. They can tell you anything you’d need to know about a product in their catalog, along with its price and perceived strengths and weaknesses compared to the competition. This sort of thorough knowledge gives them the ability to coach their producers through presentations, as well as preparing them to counter objections.

#4. Great Sales Managers See Training Is An Investment:

Great managers know the value of expanding sales skills. They are always advising those under them to read another book or go to another seminar. They understand that training is never finished. Whatever you’re selling today, somebody else is out there training to sell it better and to more people. You can’t rely tomorrow on the same skills you used today. You have to keep learning or you will become stale. A strong supervisor will remind producers to keep training their minds and always be improving.

#5. Great Sales Managers Have Clarity & Focus:

Another trait they have in common is focus. Have you ever noticed how sales managers are always focused on their quarterly numbers? That’s not an accident. Simply put, great supervisors don’t get distracted by what’s going on around them. They know that they have a job to do – usually to help you hit a certain production goal – and will do whatever they can to help advance you to that point. Everything else should point toward that aim, and they’ll try to be sure that your activities reflect that.

#6. Great Sales Managers Have Patience:

And finally, they have patience. Most of them have been in sales long enough to know that there are going to be ups and downs. Being on top today doesn’t mean that you’ll necessarily be in the same place tomorrow. Likewise, a bad week, a bad month, or even a bad quarter can happen to anyone. Like coaches, they’ve seen the wins and losses, and know that quality work will succeed over time, and that the lazy and noncommittal will eventually wash out. They emphasize doing the right things every day, because they know that over time, you’ll be successful that way.

By Trevin Bensko-Wecks

Managing a sales team effectively is difficult. Many sales managers find themselves promoted to the position directly from sales because of their outstanding individual sales performance. They often have no previous management experience and are given little training to develop leadership skills. In the absence of direction and development they’re usually compelled to take control of their sales force rather than develop and lead it. Here is a list of the top 7 mistakes made by sales managers, and how to overcome them:

* Micromanaging. While delegation is an exceptional tool for experienced leaders, it is extremely difficult for inexperienced managers to grasp. In the absence of confidence and self-awareness they frequently attempt to control every facet of a salespersons work day. They often base these instructions on what worked well for them in their own sales careers without taking into account individual strengths, personalities, habits and learning styles. Instead of removing roadblocks they create them, making a salespersons job more difficult and less rewarding. Efficiency, effectiveness and moral all suffer as a result.
* Creating blanket policies. Issues that arise in management are often specific to an individual salesperson(s) rather than the team as a whole. Individual conversations take time however, and can be uncomfortable. Sales managers tend to avoid confrontation by issuing blanket policies and communications that negatively impact the entire team. The team doesn’t understand the reason for the policy/communication and as a result, feels unjustly suppressed. Mean while the individual(s) that was the cause never has the benefit of a direct conversation enabling them to understand the root issue and participate in the discovery of a solution.
* Requiring excessive paperwork & reporting. Insisting that all team members produce exhaustive reports about their daily activities is both inefficient and ineffective. While call activity might be an important coaching opportunity for a new salesperson, it probably isn’t a good use of time for your top performer(s). “What’s good for one is good for all” is nonsense. Team members should be assessed on an individual basis and asked to report on information that can positively impact them. Make sure the information tracked is relevant and important to their success and give them access to any tools and technology that can increase the efficiency of their reporting.
* Allowing mediocrity. There are almost always people on a sales team that will never perform at a high level, regardless of how much training and technology is invested in them. Evaluate people fairly but if it’s clear that they aren’t going to cut it, get rid of them. Putting off the inevitable is not good for them or the company.
* Not providing enough 1-on-1 time. We all have different strengths, personalities, learning styles, and needs. For sales people to grow they need individual attention and help. Figure out a way to get time alone with every member of your team regularly and consistently. Review the information you intend to discuss a day in advance – this will help you do a better job of listening and discovering areas of need. It’s no different than selling; if you don’t understand their needs, you can’t show them how you can be a benefit to them.
* Not spending enough time on the street. To really understand how a sales team is performing managers need to get out on the street with them. There isn’t a coach in the world that shows up for practice but skips the game. The field is where we see theory put into practice, and it’s where true coachable moments appear.
* Not listening. Telling team members how to perform better isn’t the same as teaching them how. We have to listen to fully understand issues, roadblocks, and what the solutions might be. There is always something to learn, even for managers.
* Not giving credit. Sales managers too often assume that they have to prove their worth by demonstrating the effectiveness of their own efforts. The reality is that managements effectiveness is reflected in the performance of the team. Give credit where credit is do. Promote the successes of individuals and of the team. It boosts their confidence and moral, and shows that you are more concerned with the success of the company than with your own success.

It’s difficult to manage a sales team effectively, but by identifying common mistakes and working hard to correct them, over the course of time, sales managers will find themselves capable of elevating individuals and teams to a new level of success.

By Charlotte Sorrentino

A few years back I worked for someone who actually said his product sold itself. Goes to show you smart people say stupid things. I often wondered if he actually “believed” this.

It’s no accident that people buy from one company versus another. It’s a group effort by all but Sales is at the forefront. Yes a good product is the nucleus but if the price isn’t right or the service stinks then what good is it? If you are offering a product no one else has then your product may just sell itself in a way; there’s still advertising and marketing as people need to hear about it. But for most businesses competition is fierce and they need to do it better than the other guy.

People buy from people they like is heard often what this means is people buy from someone they trust to service them, they can depend on in a rush situation and even more importantly when there is a problem they can rely on fair dealings.

Yes like anything in life people do get settled in with a company and don’t want to change until something goes wrong. If it does for a company giving a lot of business to a vendor it’s a no brainer but when the company is small and doesn’t do the volume then sometimes they don’t get the same treatment. Being in sales, I have always given customers the 4-star treatment.

I have worked for many small to midsize companies and not one of them ever sat with the Sales Dept and worked as a team it was almost like the Sales Dept. were piranhas and cashflow or production seem to have been more of a focused, concentrated effort then building and expanding sales. I think management’s attitude is, “What am I paying Sales for if they don’t promote and sell?” Often management has lots of meetings about why Sales’ hadn’t achieved numbers but rarely talks about how Management could partner with sales.

If I had my druthers all businesses should be created by natural born sales or marketing people. These businesses seem to thrive better than most. Yes if you have the cheapest prices and service, well you can do business but it seems one would want to be the best of the best and not just settle for mediocrity no matter how much money you are making. Is it the money or the passion to do the job?

Ever try to sell someone and can’t then the owner of the company intercedes, drops the price and he GETS the sale only to rub it in your face? It takes no skill to give something away any idiot can do that. Many salespeople would love the authority to be able to make these kinds of decisions without prodding and convincing management to give a concession to a customer. Management will allow an accounting person to handle all their money with, sometimes, little overview yet haunt Sales for wanting to give a 2% discount on an order to keep a customer happy.

All aspects of your business needs attention much like gardening. If you plant seeds they need attention, water, good soil, sunlight, fertilizer and patience. This is the same for businesses and people. Quit replacing and start to make your business grow.

By Olessia Smotrova-Taylor

It is a known fact that people tend to work harder and more intelligently for the people they like and care about. This is why building a team- putting names to faces and faces to names, so to speak, and adding personal spin to make people real and likable on your proposal team- goes a long way towards helping the proposal effort.

Any proposal requires a little or, more often, a lot of extra effort from a person- extra creativity, extra dedication, extra hours, extra resourcefulness… the list goes on. Anything that goes beyond the call of duty requires people to exhibit good will, and the fact that we do more for the real people we know and like is programmed in our psyche. Especially if there are no other incentives, such rewards to winning proposal teams or promotions to new positions on the program that was awarded, generating good will through team building is essential.

Here are five simple techniques you can implement on your proposal immediately.

Technique 1. Require the ENTIRE proposal team to be present at the kick-off meeting. This includes ALL the writers and contributors as well as the management. This is one of those non-negotiable things where management has to clear their calendars, and people dedicated to their day jobs on projects have to let their customers know that they have to attend the kick-off. This has to be a factor in your scheduling and budgeting.

Insist that people attend your kick-off meeting in person, since the first most important kick-off goal is to make people more willing to do a lot more for the people they like and care about. If a couple of people, no matter how much they try to clear their schedules, cannot participate in your meeting, you will need to plan to do a mini-kick-off session for them later, and also to speak about them in detail at the original kick-off. Prior to the original kick-off, request their resume, their information, or even their photo to show to the team.

If a physical meeting is not feasible, video teleconferencing technology is the next best alternative – even if it is as simple as using Skype. Also, don’t rely on just a phone line and emailed presentation. Instead, use collaboration tools, such as NetMeeting, LiveMeeting, and GoToMeeting. This will reduce the likelihood that the attendees will lose track of your presentation’s progress as you flip the slides, and get distracted. Make an extra effort to get remote attendees involved and speaking up, and insist that no one multitasks.

Technique 2. Start your meeting with ice-breaker introductions. Even if some people know each other, there is no better way to get everyone to liven up than asking each attendee to take one minute to answer the following three questions about themselves:

1. Their name and company

2. How can they best contribute to this proposal based on their experience

3. One fact about their lives or themselves they consider unusual, special, or fun.

Answers to the last question transform the atmosphere in the room. People start laughing, they make jokes, they ooh and aah. After everyone has shared their information, they stop being strangers in suits and turn into fellow human beings. You can get really creative with an ice breaker question. For example, you could ask, What are you most proud of in your life? As you invent more ice-breaker questions, important rule for this exercise is to not ask a question people would lose face or get in trouble for answering. Keep it light and positive.

Technique 3. Explicitly state that proposal is a TEAM EFFORT. Basketball or Football teams have the word TEAM used every day as part of their coaching, and being a team player is emphasized over everything else. Somehow, on many proposals this message gets lost, and people focus on getting a bunch of individual performers together instead of emphasizing collaboration. It is amazing that many of us spend so much time implying things, beating around the bush, and feeling like heroes, all without ever asking for what we need. Since the goal is team building, state it, and explain what it means. Team effort means clear, open, and honest communication; collaborative decision-making; seeking people’s input; collaborative brainstorming to capitalize on the team’s expertise; collaborative writing; and no pride of authorship.

Technique 4. Prepare in advance and pass around the Contact List to fill in missing data including home numbers, and a field stating “Availability During the Proposal.”This sets expectations correctly for when someone may be unavailable and therefore when they could be reached ahead of that time. Or, it enables them to show that they are busy working during the day, but are committed to donating their evenings and weekends to proposal work. This is especially useful when your proposal effort takes place in the summer, around holidays, or vacation seasons. This way your team will have a chance to plan their interfaces better. Another useful field is “Time Zone” if you have the team across the country or across the globe.

Technique 5. Feed your proposal team. There is nothing like food that conveys hospitality and caring for people. Proposals do cost a lot of money, but it is baffling that so many companies try to save money on food, while food is by far the smallest budget item in the proposal. As inexpensive as good food is, it goes a surprisingly long way to make people feel welcome and appreciated. There are many ways to avoid paying high catering fees, and to feed the whole team a gourmet breakfast at a third of the price that a caterer would charge. Just make sure that you get a small budget pre-approved from the start, so that you get reimbursed for the receipts, and then stop by a grocery store to get fruit, and bakery on the way to get bagels, pastries, and real cream for coffee, and you will feed a couple of dozen of people for under forty bucks.

Also, do not bring in the same old tired sandwiches and pizza for lunches that feel like a brick in one’s stomach. For the same price or cheaper, you can get chafing dishes from caterers, which are often advertised as feeding 10 but that can easily feed 15 or 20 – and they are WAY healthier and easier on one’s waistline. I also usually ask people whether they are vegetarians, vegans, Kosher, have major food allergies, or have major likes and dislikes. You will be asking people to sacrifice their personal time and energy, so this is the least you can do to make everyone feel welcome and cared for.

There are, of course, more advanced techniques for creating fun and team spirit, such as contests, spot awards, games, and ways to reward individual performance, but these five simple techniques will get you the most mileage. These are the basics without which cohesive proposal teams are difficult to pull off. These techniques don’t cost you much to implement, but their impact lasts longer than the proposal itself and creates better work environments and better companies.

By Kate Tammemagi

Many sales professionals are very comfortable maintaining long term relationships and developing repeat business from existing clients. However, it is the goal of every company to retain existing business and to develop new clients and new sales. This involves identifying a pool of sales leads, and converting some of these leads to new business.

Key Points with Sales Leads

There are several key points when it comes to beginning work on developing your leads.

1. EVERY lead is precious, do not dismiss it easily.
2. Keep an open mind about every lead. Sales people make assumptions about the potential of each lead, whether this person is likely to buy or whether they will be interested in our products. Unfortunately, clients that prove to have a huge spend do not come with a label on their foreheads! Work every lead until you have firm evidence that this is NOT a prospect.
3. Think of yourself as competing with another very good Sales Person rather than an opposing Company. If this lead is a real prospect, they WILL buy from someone. Is it going to be you, or is in going to be the other guy who gets the sale?
4. Plan how you will work those leads effectively, develop a good personal management system.

Set Targets

Sales is a numbers game, the bigger the numbers the better the Sales Person! However, when it comes to managing leads, it is better to think in terms of conversion rates rather than flat numbers. The reason for this is simple. Take 2 sales people, one with 10 sales and one with 20 sales in a week. You might at first think that the second sales person with 20 sales is the better of the two. However, you then find that she contacted 100 people to generate those 20 sales, while the first sales person contacted 20 people to get their 10 sales.

The sales person with the 50% conversion rate is by far the better sales person. Indeed, the first sales person, with the 10% conversion rate may well be a liability. It would be much more productive to give her leads to your good sales person. This is the way to think about your own leads.

Plan how you will manage each batch of leads and set your targets in terms of conversion rates. Set a target of -

• How many leads you will convert to contacts
• How many contacts you will convert to clients

Managing your Sales Leads

To manage your leads effectively there is a useful model called the Sales Cycle. This gives us the stages from lead to advocate.

1. Leads
2. Contacts – we make contact with the decision maker, perhaps on a telephone call or casual meeting
3. First Contact Meeting – our first sales presentation meeting, where we build rapport, establish needs, present our offering and, hopefully, close a sale
4. Active Prospect – we have met, and the prospect may buy, but hasn’t made the decision yet
5. Client – the client buys from us
6. Advocate – the client is so pleased they recommend us to others

The idea is to work at each phase to improve our conversion rate and effectiveness at sales. The more leads we convert to contacts, the bigger the pool we have for the next phase. Work conversion rates for each phase of the cycle.

Improving your Conversion Rates

We improve our conversion rate at each phase of the Sales Cycle by using skills, recording and tracking systems, and good motivational techniques. Above all, every good sales person plans HOW they will improve each week and each month. As well as managing the normal weekly activities, they focus on an improvement area so that they are constantly increasing their potential.

For example, you could concentrate one week on improving the first phase of the Sales Cycle, generating more contacts from your leads. Isolate a time for making appointments. Prepare a list of contact names and telephone numbers, and anything else you will need to carry out an effective period of calling. Set a target of number of dials, or number of contacts or number of appointments made. Work out how you will motivate yourself to keep going till you achieve your target. After the batch of calls, review your performance, and use this review to plan your next session.

Spend the next week focusing on improving your recording and tracking system, with the target improving the conversion from your Active File to Clients. A good sales professional is always working at his or her role and is always working at improving.

By Evan Schweitzer

Congratulations! You have made the transition from being a sales rep – the feet on the street so to speak – to opening an office on your own. You are now an Independent Sales Office (ISO). Priority #1 is the evaluation and selection of the company you are going to partner with and represent and how they can help you grow your business.

This is no more evident than in the credit card processing industry. As a leading credit card processor, we see firsthand that the landscape for ISOs is constantly changing. Unfortunately, many ISO’s now find themselves in financially difficult times. Why? Because they either a) didn’t take the time to research their partner provider; and b) may simply not have known the right questions to ask. After all, picking the right partner is critical to your present and future success.

With this in mind, we are authoring and posting a series of articles on what to look for in an ISO provider in this industry. Following are questions pertaining to the sales, marketing and informational support that should be considered.

Key “Support” Questions when researching ISO provider partners:

· Comprehensive On-Demand Agent Portal

One of the most essential things to look for when selecting a provider is the information portal ISOs like yourself can access anytime online that contains all the information you need on a daily basis. Many providers today have nothing more than a simple database with minimal information.

To optimize your sales efforts, you need a partner who offers a comprehensive on-demand agent portal. For example, we provide our ISOs and direct sales reps with access to a proprietary ISO Agent portal where you can:

- Schedule daily appointments

- Track and manage submitted deals from stage 1 to activation

- Review commission breakdown in detail

- Access all training material / documents

- Receive a detailed breakdown of residual report

- Keep track of sales reps performance from month to month

Much more than a Customer Relationship Management (CRM) tool, the ideal agent portal should also be able to:

- Submit merchant applications online to expedite customers through the approval process

- Provide batch reporting on a daily basis

- Flag alerts to customer service issues

· Marketing

When it comes to marketing, first and foremost is the quality and key focus of your prospective partner’s website. After all, this is generally the first place prospective customers go to. Is it a) professional and b) most importantly, is it merchant facing? Too many times, these sites can be geared more for ISO recruitment than new business lead generation. And obviously, lead generation is priority #1.

Other questions regarding marketing to consider: Do they provide you with compelling collateral that helps you communicate the benefits of your organization to your customers and prospects? Is this information downloadable in easily printable PDF format on their website to you? Can print and go when you need it? Do they supply pitch books which help you tell the story in a consistent, easy-to-follow layout? And, are the materials they do provide updated in an expeditious manner or are they using statistics from 1995?

· Training

Training is another key area for your success. Do they help train YOUR staff to grow and position you for future growth? How often is the training – daily, weekly, monthly, never? Let’s face it, having training sessions available on a daily basis, and not just once a month, makes for a most knowledgeable, more successful ISO. In addition, try to uncover the quality of the training and the credentials of the trainer? Do they have a dedicated full professional trainer on staff that has successfully trained thousands of ISOs and sales reps or are sessions conducted by an employee who does that it on his spare time?

If you can do you due diligence, follow the above guidelines regarding sales and marketing support, you should be able to gather enough information to pinpoint the right partner to work with you and help grow your business in these key areas. Please refer to other articles in this series where compensation and other significant areas are explored.

ABOUT THE AUTHOR

Evan Schweitzer (CPA) is the Chief Financial Officer for Federated Payments. Evan has spent the last 20 years aiding the growth of mid-sized companies and taking them to the next level. He is an expert in all things financial and works with the management team, ISO’s, and sales representatives to focus their efforts of profitable strategic growth initiatives. Prior to joining Federated Payments, Evan worked for Lipman Electronic Engineering (now VeriFone) and its global affiliates as Chief Financial Officer.

Federated Payments is a premier provider of credit card processing solutions and related merchant account services for small to medium size businesses within the U.S. and Canada. Federated takes a consultative approach in developing long-standing relationships with our merchant customers, Independent Sales Offices and Cash Advance Partners enhancing the way they do business. Federated offers a diverse suite of cost-effective solutions that include credit and debit card processing, equipment leasing, gift and loyalty card programs, cash advances and check approval services as well as its industry-leading Agent Partner Portal.