We all know how it goes on a Monday…..
“What’s in your forecast?” “When is the deal going to close?”
These are probably the most common questions a sales manager asks their team. They are fair, but are they the only questions to ask?
Perhaps in a “my company first, customer second environment. The closure of the deal within the specified timeframe takes over from everything else. Sure, the deal may get done, but at what cost?
Financially, we know we have trained the buyer to make the decision at the end of the quota period in order to get the best discount. Analysis from HBR found that overall deal size declined 34.5% at the end of the quarter. They go on to say:
The decrease in deal size & win rate results in an estimated $98M per year in lost revenue for the average company in our data set.
Reputation, we’ve learned that the sales person’s trust rating is as low as 3%, equal to politicians. Commission breath anyone?
It’s not surprising the industry reputation for sales people is as low as it is, however, we also know that this is the time to change this. Social selling provides the best way for sellers to lead the thinking in their chosen field and build a great reputation.
The revenue forecast question is important but it misses a huge part of the sales person’s role. That’s why we believe there’s a requirement for a sales promoter score.
We’ve seen organisations such as Slack become one of the fastest growing companies over the last 24 months. They’ve done this by putting the focus on customer experience, not just the dollars.
Having reputation, trust and value add as measures, using realtime feedback from clients on the interaction with sales teams provides a yardstick for loyalty and the depth of relationship being built.
Being able to ask, What is your forecast to grow customer trust and loyalty over the next quarter should become an integral part of the Monday morning sales meeting. #marketing #sales #hr #management