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SALES PERFORMANCE AND LEADERSHIP DEVELOPMENT INSIGHTS FROM AMY FRANKO
135x: The Final Four and Hidden Lessons on Sales Growth Strategy
There are a lot of lessons on sales growth strategy from the NCAA Women's Basketball Tournament. Quality, deal structure, understanding buying patterns, and consistency are key. **** I became a fan of women’s college basketball when the Final Four came to Columbus in 2018. These games made history even then. 7.62 million television viewers. Three sold-out games. Two overtime wins. And a championship game that came down the wire (Notre Dame beat Mississippi State by a three-point margin.) Fast forward to 2024. This time, Cleveland played a fantastic host to an even greater event. Ticket prices were triple that of 2018, into the thousands of dollars. 18.9 million viewers (only 14.8 million for the men’s tourney). Sold out Rocket Mortgage Fieldhouse. Big names, including superstar Caitlin Clark. The most watched and most successful Women’s Final Four of all time. After the tournament ended and the nets were...
Video: Sales Strategy: Mastering the Language of Money in Sales
One of the most powerful tools you possess as a sales pro, especially when delving into budget and financial conversations with prospects and clients, is the language you use. The right language is a sales strategy that can be the difference between an opportunity stagnating in the sales pipeline and it moving smoothly towards a win. Here are three key areas where paying attention to your language around finances can significantly enhance your sales strategy: Put Yourself in Your Buyer's Shoes: Take a moment to consider what goes through your mind when you're the one making a buying decision. By understanding your own buying behavior, you gain valuable insight that can be applied to your sales conversations. Mind Your Words: The words you choose matter. Terms like cost, fee, price, value, return, and investment all carry different connotations. While each has its place, being mindful of when and...
Uplevel Your Sales Training Programs to Include this Skill
Top Sales Questions You Can Encounter During the Sales Process During a recent meeting with a prospective client to review options in a sales training proposal, the discussion turned to the possible next steps in working together. Towards the end of the meeting, one of the leaders asked a thoughtful and strategic question: “What sales objections do you think we might hear in the firm and how should we address them?” This one of the best questions you can encounter during the sales process. It shows the client actively thinking how we can work together to bring our sales training solution to their firm. It shows collaboration and a forward-thinking mindset. That leader wants to make sure they have what they need should they encounter concerns in other business segments. What’s Really Behind that Client Sales Objection? There are typically a few key mindsets behind a client’s objection and any sales...
How Sales Training Can Help You Ignite More Sales
Right now your competition is sales training. Are you? Consider these 2024 sales training trends from Qwilr: Companies that prioritize training are 57% more effective than their competitors. Sales training is a critical differentiator, with 70% of salespeople lacking formal training. 47% of AEs have left a sales job due to a lack of training or a poor onboarding experience. Continuous training leads to a 50% increase in net sales per employee, highlighting the direct link between ongoing learning and sales outcomes. Sales training will be integral for successful sales organizations as we move forward. Here are five reasons why. 5 Reasons Why You Need Sales Training 1. Skill Development Needs to Be On-Going Businesses with successful sales teams make sure sales training isn’t “one and done.” It must be a continual part of your sales growth plan, just like your sales strategy is. When your organization...
Video: Non-profit Board Service as a Sales Growth Strategy
There's a hidden sales growth strategy many leaders overlook: non-profit board service . It's a sales strategy I urge leaders to seriously consider integrating into their growth plans. Why? Because it's a powerful way to not only benefit your community and team members, but also fuel your organization's growth. When your team members serve on non-profit boards, they're not just doing community work; they're also showcasing your organization. They become your brand ambassadors out there in the community. Plus, they're honing vital skills like business savvy and leadership, which only makes them more valuable assets to your organization. One of the best things about non-profit board service is how it expands networks. By rubbing shoulders with other community leaders, your team members open doors to new opportunities. And you never know—these connections might just lead to growth opportunities for...
Rev Up Your Sales with This Sales Conversation Makeover
You can elevate your sales strategy with impactful sales conversations. This article shares a proven 5-point framework to include in sales training for mastering sales conversations. ******* When it comes down to it, sales is a conversation. In this article, I will share a framework that will help you rethink your sales conversations as part of your sales training. I consider sales conversations as earning time with our high-impact relationships. What are High-Impact Relationships? First, let’s review what high-impact relationships are. There are four major relationship types that it pays dividends to nurture in modern selling: Decision Makers - those who holds the budget authority for the type of work that you are looking to do with your clients, the types of problems that you're helping them to solve. Centers of Influence - a person that’s well-connected and really understands the value of what it means...
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...