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SALES PERFORMANCE AND LEADERSHIP DEVELOPMENT INSIGHTS FROM AMY FRANKO
For a Healthy Sales Pipeline, Start with Strategic Prospecting
Think about the top sales performers you know. If you spend a day in their life, it’s likely you’ll recognize a common theme: They are constantly tending to the quality and quantity of opportunities in their sales pipeline. When it comes to pipeline management, two habits are central to success: balanced prospecting and daily pipeline management. Let’s first define pipeline management. It is the uncovering of opportunities in either net-new accounts, or existing accounts where you want to continue to create barriers for your competition. Gone are the days of dedicated hunters or farmers; every sales professional must be strong at prospecting across the full field of opportunities. That leaves a lot of ground to cover. How can you strategically narrow your targets? I’m a believer in prospecting on quality first and then quantity. Research shows about half your prospects aren't a good fit for what you sell....
Leveraging Sales Training for Successful Referral Strategies
Are you focusing on referral strategies in your sales plan and sales training? According to Think Impact, 78% of B2B sales referrals lead to viable customer leads, and 65% result in new business opportunities. Learn how to nurture loyal clients, handle referral mishaps, and build a strong network ecosystem in this post. ******** When sales referrals go wrong One of my best sources of new business is introductions to decision makers and influential people through my network. That same network is also the source of introductions for a service or product I might need. I'm not alone. According to a report by Think Impact, 78% of B2B sales referrals create viable customer leads for the business, and referrals end up creating 65% of new business opportunities. This is why I teach my clients about nurturing loyal clients and creating a strong network ecosystem But sometimes introductions don’t work out as...
5 Steps to Build High-Impact Relationships as Part of Your Sales Strategy
Building impactful client relationships is a crucial component of sales strategy. Beyond mere connections, it's about understanding and nurturing key alliances across departments and leadership levels. This latest article dives into practical steps to map out, assess gaps, and deepen relationships for sustained growth. Let's rethink how we build connections to unlock new opportunities and enrich client engagements. ***** As a strategic seller, your ability to build relationships is foundational to your success with client growth. According to recent data, the probability of selling to an existing customer is 70 percent and only 20 percent to a new prospect. Another study estimates that companies in the US lose $83 billion because of bad customer retention strategies.(Source: Close) We’re in a world extremely connected through technology. We can find virtually anyone and begin to build a picture of the...
Podcast: Betting on Yourself is a Winning Sales Strategy
Betting on yourself is a winning sales strategy. In this episode of the Rethinking Revenue Podcast with host Ed Porter and James Rores, I shared my transformative career path, from my early days in technology sales with giants like IBM and Lenovo to founding my own business in the learning and development space. With a focus on rethinking revenue and career pivots, I offer insights on how taking bold risks, investing in personal growth, and embracing change can lead to both personal fulfillment and professional success. Tune in to learn how you can leverage self-confidence and strategic thinking to achieve your sales and business goals. Some highlights: Start your career in a role that offers diverse experiences and responsibilities, as this will help build a solid foundation and versatile skill set. (05:25) Don't be afraid to make a bold career change; it can lead to unexpected opportunities and growth,...
Podcast: Intentional Cold Calling as an Effective Sales Closing Technique
One of the best sales closing techniques is an intentional cold calling strategy. In this episode of the Reinvented Sales Podcast with Paul Watts, Amy Franko delves into the art and science of cold-calling, discussing its relevance and her preparation strategies. She shares effective opening lines and how to keep sales conversations engaging. Essential tools and technology for cold-calling are highlighted, alongside Amy's dos and don’ts for sales success. Amy also addresses handling rejection by resonating with prospects through value-driven education. Her approach focuses on building connections, uncovering opportunities, and nurturing potential future relationships. Some highlights: Is cold-calling still relevant? (0:52) Is cold calling an art and a science? (1:50) How Amy prepares for cold-calling (2:56) Amy’s effective opening lines (4:35) How to keep a cold call engaging Indispensable tools &...
Strategic Selling: How to Make the Most of Buyer Preferences
Adapting to changing buyer preferences is key in strategic selling. Decision makers seek confidence in ambiguous environments, effective situation assessment, and collaboration. Misconceptions about sellerless experiences and non-direct methods need addressing. Prioritize creating value, building rapport, and guiding conversations. ******* Adapt Sales Strategy: Buyer Preferences Change, Approach Must Too. While much is written about the changing of buyer preferences in strategic selling, don’t let that distract you because the foundation of what they are looking for remains the same as it always has. What Does a Decision Maker Require from Today’s Sales Professional? Above all, decision makers want confidence in navigating their way forward in ambiguous environments. They also want confidence in making pivots on the path as needed. There are two questions we can always ask ourselves as we work with our...
Video: Sales Conversations: Pre-brief & Debrief
There are two pieces to a sales conversation that if you put this into your process, you will have much more effective and more momentum gathering conversations in the future. The first is the pre-brief. The pre brief is essentially thinking through the outcomes that you want to accomplish and mentally clearing the deck before you go into a conversation. So many of us are running from meeting to meeting that we don't necessarily have or take the time to simply clear our minds, get clear on the outcome of the conversation that we're about to walk into. If you take just a minute or two to do this, and if you already have an agenda planned, the power of those two elements together will make your conversation so much more effective. The second is the debrief. The debrief is the same activity, but simply on the end of the conversation. It is to take just a few minutes after the conversation, take down the...
Video: Optimize Sales Skill Development for ROI
Smart organizations understand the value of sales training and investing in their salespeople and sales leaders. When developing these skills, focusing on four key areas can ensure a robust and sustainable program. 1. Sustainability Objectives First, consider both short-term and long-term sustainability objectives. It's crucial to determine what will make the skill development program sustainable for the upcoming year and identify potential challenges and opportunities for year three and beyond. This forward-thinking approach ensures that the program remains relevant and effective over time. 2. Built-In Accountabilities Second, ensure that accountabilities are built into the program. This includes self-accountability for each professional or leader participating in the program, as well as organizational accountability to support these individuals. By doing so, you create a structure that supports...
6 Capabilities for Highly-Effective Sales Leadership
Your organization’s sales success starts at the top with strong sales leadership. What makes a good sales leader? John Maxwell has said, “A leader is one who knows the way, goes the way, and shows the way.” That’s especially true in sales, and especially now as we endure disruption and shifts in the economy. One stat I came across made the case for having strong sales leadership even more evident. HubSpot recently surveyed over 500 sales leaders and found 40% of them have missed revenue targets this year — a significant trend that can’t continue if their businesses are going to endure. What is the differentiator between those sales leaders that hit the mark… those that not only survive, but thrive in this volatile environment? As I work with sales leaders and other organizational executives across the country, some common themes emerge around the competencies and skills needed for modern sales leaders. In...
Video: How to Optimize New Offerings for Sales Growth
If you have a new offering that you're putting out into the marketplace, these strategies will help you optimize the new offering to accelerate sales growth and also profit growth. Ensure that the sales team is very clear on the top line revenue targets, as well as the bottom line profit growth that your organization is looking to accomplish through the new offering. And then as they are analyzing their territory, identifying their top most loyal customers or their top most loyal channel partners so that you can then seed the product with those customers and partners. Create a seed program. By placing that product, that offering with those most loyal customers and partners, offering them additional incentives, offering them perhaps training and skill development, offering financial incentives, especially for your partners to sell that product through to your end user customers. Create a value sheet. This...
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