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SALES PERFORMANCE AND LEADERSHIP DEVELOPMENT INSIGHTS FROM AMY FRANKO
Video: Crafting Smart Commission Plans as Part of Your Sales Strategy
When you think of sales strategy, one area that you may not consider is your commission plan. Commission plans serve as motivators for sales professionals, driving their efforts towards achieving organizational goals. However, not all commission plans are created equal. To ensure optimal performance and alignment with organizational objectives, smart commission plans incorporate four key elements: 1. Simplicity A commission plan should be easily comprehensible to sales professionals. They should be able to calculate their potential earnings from a deal effortlessly. Simplicity not only facilitates clarity but also enhances engagement with the commission plan. 2. Behavior Incentives Effective sales commission plans align incentives with desired behaviors. Whether it's fostering growth in specific products, services, or geographical regions, it's essential to evaluate potential unintended...
The Two Extremes Impeding Your Sales Growth
Struggling with decision-making in sales growth? This article dives deep into the impacts of ambiguity and certainty on performance. Too much ambiguity leads to indecision, while too much certainty creates a rut. Learn tangible examples and how CEOs can foster a culture of innovation. Don’t let uncertainty stall your progress or complacency hinder your success. ******* One of my mentors, Alan Weiss, recently shared this thought with my mastermind group: There are two things that impede decision making. The first is too much ambiguity; that leads to indecision. The second is too much certainty; that leads to a rut. I continually see this play out with sales growth strategy and overall sales performance. This article offers ways for CEOs and sales leaders to avoid these two extremes and keep momentum with sales growth. How Does Too Much Ambiguity Impede Sales Growth and Performance? Too much ambiguity feels...
Video: Two Sales Qualifying Questions for Lead Conversion
Does your sales training program focus on the importance of qualifying opportunities? In any sales opportunity, understanding the true quality and urgency is crucial. But how do you accurately gauge these factors? Here are two simple yet powerful questions to ask during your conversations: How important is it to you to solve this problem? This question provides insight into the mindset of your client or prospect. By understanding the level of importance they assign to solving the problem, you gain clarity on how critical the issue is for them at the moment. How important is it to your stakeholders to solve this problem? Here, you're aiming for alignment between decision-makers and stakeholders. If there's a significant disparity in their responses, it could indicate potential obstacles down the road. Addressing this misalignment early on helps in having a more meaningful and productive conversation with...
Video: Shifting from Digital to Live Sales Conversations
In the fast-paced world of sales, mastering the art of communication is key to unlocking success. While digital channels offer convenience, they often fall short in fostering meaningful connections and driving conversions. That's where the power of live sales conversations comes into play. Why Live Communication Matters When it comes to nurturing sales opportunities, moving conversations from digital to live formats—such as phone calls, video chats, or face-to-face meetings—can make all the difference. Here's why: 1. Reducing Miscommunication Risks Digital communication channels, like email or messaging apps, can sometimes lead to misunderstandings or misinterpretations. By engaging in live sales conversations, you can clarify doubts in real-time and ensure that both parties are on the same page. This helps in building stronger relationships with prospects and clients. 2. Maintaining Control Over...
What if Sales Growth Isn’t Your Priority?
What if we prioritize culture and community impact over sales growth? This unconventional approach highlights the importance of adaptability in sales strategy, emphasizing quality over quantity. It's a reminder that sustainable growth requires a holistic approach, focusing on client mix, strategic clarity, and embracing counterintuitive ideas for real progress. ***** I had lunch with an executive who shared with me that they weren’t focused on sales growth. In fact, it wasn’t a goal at all to add more staff, increase sales, or to exponentially increase the size of their organization. They were perfectly content with where they were, the culture they built, and the impact they were having in the community. I had to sit with that one for a moment, because it isn’t at all a typical conversation I have with prospects, clients, or leaders. Taking in this completely opposing viewpoint made me realize it’s the...
Why We Need More Women on Boards and How To Prepare for a Board Role
As the oldest of five daughters, women’s leadership is more than a topic for me. It’s more like something in my DNA. It’s something I’ve made an intentional point to weave into my work and life. For four years, I served as the Chair of the Board of Directors for Girl Scouts of Ohio’s Heartland, and I'm currently Immediate Past Chair. My role, the role of our board, and the role of the executive leadership team is to affect true change for our Girl Scouts, who are our women leaders of tomorrow. When I meet our girls, and I experience what they’re doing just in my corner of the world, I’m reminded just how amazing these girls will be as women leaders. They’re the women you want leading in your organizations and in your communities. So on this International Women’s Day, I choose to challenge organizations to increase the representation of women in their board rooms. I hear a lot about the need for women to...
Video: Pursue Sales Strategy with Focus
A common challenge in designing sales strategy is focus. No shortage of activities exists—solution sets, pursued industries, customer types. Elite organizations use focus as a filter, selecting only activities aiding success in the next one or two years. Anything else is set aside. What remains is a refined, concise sales strategy, allowing focus on vetted activities. With such clarity, sharing with sales teams becomes easy, facilitating swift implementation. This approach not only accelerates short and long-term revenue and profit growth but also instills confidence in pursuing the right clients and customers. In conclusion, prioritizing focus in sales strategy not only streamlines operations but also ensures targeted growth and client satisfaction. Optimize Sales Growth with a More Focused Sales Sales Strategy There’s no better time than now to focus on enhancing your sales strategies. I can help...
Video: 3 Strategic Plans You Need for Long-term Sales Growth
As it relates to long term successful sales growth, elite organizations, need three strategic plans in their organization. They have a visionary plan. They have a sales strategy. And they have a marketing strategy. That visionary plan is that big picture horizon. What does the organization look like? Who do we want to be in three years or five years or ten years? Most organizations that do strategic planning, they have a visionary plan, but they stop short once they get that visionary plan put in place. They're often lacking a specific sales strategy and a marketing strategy. Your sales strategy is the specific path that is going to help you optimize your sales growth. It is covers everything from your go to market to the solutions and products that you're selling to the people that you need in your organization, the technology, and the other structures that will support you. The very specific...
Mastering Sales Growth During Mergers & Acquisitions
If your company is growing through a merger, acquisition, or investment event, you’re not alone. I’m observing it across several clients in diverse industries, and according to market and consumer data research firm Statista, nearly 50,000 merger and acquisition (M&A) deals were completed worldwide in 2022. In any of these scenarios, there are new stakeholders in the mix. As a CEO or sales leader, how do you determine where to focus time, energy, and finances related to sales results? By referring to sales metrics. In this edition of Professional Performance Magazine, Amy Franko offers three sales growth metrics to consider with M&A or investment events. Read the issue. And to learn more about Professional Performance Magazine and subscribe, go here. Build a Winning Sales Strategy Don’t let your competition get an advantage. We can help develop a successful sales strategy. Contact us to...
You’re Moving Too Fast. It’s Hurting Your Sales Growth.
In sales, sometimes you need to slow down to speed up. This article emphasizes the importance of intentional friction in sales, urging CEOs, sales leaders, and sales professionals to slow down in five key sales planning areas: hiring, territory planning, compensation planning, major sales strategy changes, and pursuing major opportunities. As a result, you'll improve sales results. ******** Intentional Friction in Sales These sales tips applies to CEOs, sales leaders, and sales professionals. You’re moving way too fast on the important things and not fast enough on things of little material consequence to the organization. Maybe most importantly, your teams and customers are watching this and operating within it. How you (and your customers) operate becomes your sales culture. Your sales culture is what creates your short and long-term results. A new Wall Street Journal article shares that the best...
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