Why Lead Scoring Will Make You Money

I hear this from clients all the time: "Why do I have to make sales even MORE complicated? I don't need to add lead scoring." Well, you don't need to make sales more complicated, and you DO need to add lead scoring. Here's why.

Lead scoring is a simple system to make your pipeline value visible to the rest of the sales team. I'm a fan of writing 3 or 4 simple scoring lines like When Is The Lead Planning to Make a Purchase (the sooner, the higher the number,) What Is The Budget For The Purchase (the higher the better,) What Is The Interest Level of the Lead (are they contacting you or are you reaching out,) and the like. Ideally, each of these lines will score 1-3 points. The higher the score, the better.

Now, how were those high-scoring leads sourced? Who on the team has the most high scores? Does that correlate to their closing ratio? Should more of the team start sourcing leads in the ways the high-scoring leads are sourced? The answers to these questions will streamline your lead generation, saving time and money, while increasing your closing ratio.

Channeling the Ginsu Knives commercials, I have to say, "And that's not all!" Are your best closers assigned to the high-scoring leads? Or are they your best closers because they close everybody, no matter the score? Why would you give your worst closer your best leads? You can learn a lot about your sales rep's strengths and weaknesses by ranking their leads and seeing if they close. Now you know where to direct your coaching with those individual reps.

"But wait! There's more!" If the scores and the pipeline are public, you have more choices in how to manage your time. Is a rep out sick, and they have a high-score appointment on the board? Does a poor closer have time for a ride along or two with a strong closer? Is Joe a weak closer because he only sources low-scoring leads? You can allocate the team's time in ways that will ensure the high-scoring leads are never left hanging, and can be used as teaching opportunities. And you can learn more about each rep's lead gen process.

And lastly, have your reps defend their scoring. If it isn't challenged, they may just tell you what you want to hear. And when the whole team can see how many high-scoring leads are generated by others, they will compete for that number, too. Nobody likes to see themselves at the bottom of any ranking more than occasionally, so that problem is now solving itself, without much management intervention.

Rome wasn't built in a day, and this won't be either. Add one scoring metric a week until you have the metrics in place that make sense for your business. Don't ask your reps to track too many factors, or it will become a burden. Aim for 3-5, and hold them accountable. And watch your bottom line change!

Elisabeth Marino is an sales process adviser working in Buffalo, NY, and a frequent contributor to LinkedIn. She has worked in sales development and evaluation for 17 years, and helped dozens of organizations improve their sales numbers. Connect with and follow her here, visit her website: www.marinoconsultants.com, on Facebook as Sales Dynamo Consulting, and follow her on Twitter @SalesDynamoNY.

In With a Plan, Out With a Sale

I'd like to say this once and for all - Luck is not a business plan! "Talent" is not a business plan! Whew! I needed to get that off my chest.

I work with small to medium sized businesses, and sometimes really large ones, and I'm amazed at the number of times I hear that there is no skills review or specific process for the sales team to follow. Entrepreneurs hiring sales reps tell me, "they should know what they're doing." Um, yeah, but so should you. Luck is not reliable and repeatable, and without a reliable revenue stream, you're out of business.

Most people who start a business are not sales experts, just like I'm not an automotive expert. But your sales reps should be. They should be going into every sales call with a plan that helps them qualify the customer, and present that customer with the right product to fill their needs. If your reps don't do that, every sale they make is based on luck, intuition, or personality. Not good.

Every sales call should have the same purpose: lead to a sale. The sales cycle for each business is different; selling cars is different from selling medical equipment. Each one will have a different call plan. What are the necessary steps for a prospect to go from zero to sold? All of them are part of your sales process. What needs to happen in person? Those are the parts of a sales call plan. Every sales rep should be using every part of the sales process. If they aren't, they're not doing their job. They should be able to discuss it with you, and they should be able to fine-tune and improve it over time. That way, they can share best practices between them, and all improve steadily.

While we're at it, let's stop selling like it's 1995. There is nothing your customer can't learn or find on the internet. They can probably buy it cheaper, too. That means you need to be there, where your customer is doing their homework. Have some solid online support for your business and your reps. Have a great website, and include a FAQ page. Do some inbound marketing, with social media (anything retail), white papers (business and professional services, technology), a blog (food, fitness, arts, in-home services) or newsletters, all linked directly to your website. People don't buy from businesses. People buy from people. Create a web presence that helps your customer learn your business's personality, and help them know, like and trust what your business will provide.

So, to recap: have solid web presence to help your clients learn about, know, like and trust your business. Sales reps should have a specific set of skills and a plan to learn to "right size" the solution they offer your client. Your company should have a clear, repeatable sales process that evolves over time based on the successes of your sales pros. And you can't rely on talent or luck to provide a steady revenue stream. You need a plan.

Elisabeth Marino is an sales process adviser working in Buffalo, NY, and a frequent contributor to LinkedIn. She has worked in sales development and evaluation for 17 years, and helped dozens of organizations improve their sales numbers. Connect with and follow her here, on Facebook as Sales Dynamo Consulting, and follow her on Twitter @SalesDynamoNY.

Jump on the Hidden Fast Track

As a kid, I wasn't a fan of homework. I'd slam through it as quickly as I could, and focus on fun. In college, I began to appreciate homework, because it was an opportunity to direct my learning towards the specific end result I wanted. I couldn't believe the professors would let us choose so much of our own direction! Still, I looked forward to ditching the homework, and moving on to living my life.

I wanted to do well in my jobs, and I wanted a comfortable paycheck. How? Kiss butt? Work crazy hours? Meet the right people? I was pleased to learn none of those were the answer. I quickly figured out that my coworkers who moved up the fastest were looking stuff up, reading about it, and practicing outside of work.

Well! I've always been a fan of acquiring marketable skills more quickly, and I sure do love to get a raise. But what to read? How much reading? What to practice? How do I get in on this fast track? I asked the rising stars, and I received several answers, all of which had one thing in common: look at research. Case studies, articles in trade magazines, books by experts, and lectures and focus groups all made the list.

I started reading 30 minutes a day, usually at bedtime. When I came across applicable research (like most sales are closed on the 8th -12th interaction) I made notes, and took them to heart. And I developed skills and got results at work. (There are very few skills you can't strengthen by looking things up on the internet, reading a book, or joining a group.)

I've stopped doing homework a few times in my career, and the same thing always happens. My skills develop more slowly, and I don't get raises or promotions as frequently. And I end up going back to homework.

That extra 30 minutes per day has added up into hundreds of hours. I've read scores of books, trade magazines and studies. And over the years, I've developed expertise and a reputation for excellence. "How did you become such an expert?" people ask. I smile. 30 years in the workforce was a good start. But there was more to it. I gesture to my bookshelf, my Kindle, both of which are in plain sight, and say, "I read."

Elisabeth Marino is an outsourced sales process adviser working in Buffalo, NY, and a frequent contributor to LinkedIn. She has worked in sales development and evaluation for 17 years, and helped dozens of organizations improve their sales numbers. Connect with her here, on Facebook as Sales Dynamo Consulting, and follow her on Twitter @SalesDynamoNY.

Why You Need a PRSP

What's a PRSP? As you probably know, it's shorthand for Proven Repeatable Sales Process. Everybody talks about it, and throws around other business terms like Sales 2.0 and Inbound Marketing. Sheesh! Just keeping up with the trendy lingo can be exhausting, let alone figuring out if any of this stuff applies to you. So does it? Well, the PRSP does, and I'll tell you why.

It makes zero sense to repeat what you know doesn't work. How many sales calls have you and your staff been through? Does anybody keep track of the number of sales in relation to the number of sales calls (sales ratio?) Do your sales people write down the objections they hear in each sales call so they can spot trends, and adapt their sales call? Do some reps have sales that get returned, refunded, or reversed more than others? These are just a few of the ways to monitor what doesn't work.

What do all the sales that stay sold have in common? They had a sales process that worked. The 1) right prospect was asked the 2) right questions, needed 3) a solution you offer, provided with the 4) right information, reminded of the 5) urgency to solve his pain point, and provided a solution at a 6) price they thought was fair. There may have been all kinds of window dressing around it, but if the sale was made and stayed sold, these 6 points were there.

Look at each numbered point. Each one is a spot for a natural objection; it's an opportunity for the conversation to end, or to move forward with more confidence. If your prospects are well qualified, your reps can move easily through the process. If you prospect isn't a qualified buyer, the PRSP uncovers that before the conversation gets awkward, and you can visit them at another time when the fit will be better.

What if your sales reps used this 6 point system consistently, and didn't go off track? I'll tell you - fewer of your sales calls will end up in the weeds. You'd make more sales, and the sales would stay sold. But there's more to it than just copying the sales call of your best guy. Each sales rep and client are different, and you need to be able to frame the conversation and the information to fit each individual.

How do you make it happen? Start with those 6 points. Build a sales call worksheet that is as generic as possible that still fits all 6 points the way they work for your industry. Leave a spot on there to fill in objections, and track and count them. As the objections change and evolve, teach your staff to respond to them with information and confidence. You'll have a solid PRSP in no time!

Elisabeth Marino is an outsourced sales process adviser working in Buffalo, NY, and a frequent contributor to LinkedIn. She has worked in sales development and evaluation for 17 years, and helped dozens of organizations improve their sales numbers. Connect with her here, and follow her on Twitter @SalesDynamoNY.

How to Land Your Next Sales Job

So many people are looking for jobs right now, it's difficult to set yourself apart. What do you do? More resumes? More cold calls? Better clothes?

Friends, you're in sales! Landing a job is all about selling yourself to your next employer! Work on this project as if you were making a sale. As you make contacts, they will see you exhibiting all the skills you'll need to be effective in your new position.

Remember, over 60% of all jobs never make the want ads. Don't limit yourself to the jobs you see posted. Look for the job you want. Make a target list of companies you think would be a good fit. And then go get 'em! 

Of course, you need a great resume. And a concise, focused resume. A resume focused on what you've done is ok, but a resume focused on what you want to do for your next employer is better. Include your experience, but write your text to focus forward. 

Yes, you need to research your target list, just like you would in sales. Make lists of who the key players are, and learn their histories. (It's probably all on LinkedIn!) You'll have a much better idea of who might advocate for you, and many good connections may be one introduction away.

Cold calling is not dead. It's part of your job search strategy. Can you just walk in and expect to walk out with a job? Maybe not. You'll do some calls in person, some via email, and some via USPS.

Networking is a great way to cold call for a job. Your research will tell you where to network to meet the people you need to know. Members of the Chamber? Join the Chamber. Active in the Red Cross? Volunteer. Networking with target personnel takes some of the pressure off of both of you, and allows you to be less formal.

Don't talk about your previous employer any more than absolutely necessary. Focus on moving forward and accomplishing good stuff for your next employer. 

Remember to follow up. Just like you would in any sale, you need to follow up promptly and professionally. Email is the way to go. No texting! No phone calls. Email is professional, and respects your contact's schedule.

You're a great sales professional. You know what to do. Go forth, and sell yourself. You'll have a job you love in no time!

Why You Missed Quota

The sales quota is much-argued situation in most sales organization. How is it set? Do previous successful months offset less successful months? Is it a moving target, growing as you become more successful? Is management doing anything to support achieving quota? Sales pros love quota when they're ahead, and hate it when they're behind. Should a company even use quota anymore?

Sadly, quota isn't going anywhere. It's how most sales organizations predict the cash flow they will generate to support the rest of the company. These predictions need to be pretty accurate, or the dominoes fall fast and hard. So why are they so difficult to hit? It may be a combination of management's fault, and your problem.

Quota isn't always important. If meeting quota isn't a consistent qualification for keeping your job, it may be an excuse to fire reps who haven't fit into the corporate culture, or rubbed management the wrong way. Or it may only be important if cash flow is tight. Inconsistent attention to quota makes it hard to take seriously. If you miss quota occasionally, you're normal. But beware: if no one mentions it to you, and asks if your pipeline is recovering this month, and asks how they can help, management may be using missing your quota as a way to ease you out the door.

You aren't doing the right homework. Sales pros are prone to bouts of burnout - feeling like our work is under-appreciated, over-paper-worked, and too repetitive. It's work to keep it fresh and still be effective. Read at least part of some sales philosophy or sales system book or tweet or blog every day. Every time you tweak your perspective, you stave off burnout. Also, create a strong list of call objectives for each call. If you had one before, shake out the ineffective goals and replace them with new stuff. New conversations will yield new results.

Management doesn't support the team. Does your manager help? Or threaten? Does upper management bring in outside trainers to offer you a fresh perspective? Are you discouraged from taking time off? Is the organization aligned with keeping customers, and serving them well? Some managers are just as burned out as their team, making them ineffective at providing the support, sounding board, and education the team needs. Some customer service staff look at every customer as a list of problems. It's very hard to be a successful solo act if your management has a negative attitude.

You flip out when you have a slump. In simple terms, you're superstitious. You think a bad week means you've "lost your touch." If you could make sales two weeks ago, you can still do it. (It's not a magic trick, it's a skill set!) Do an objective check of whether you've let your side of the equation slide. If you're still doing a thorough and professional job, shake it off. No coin comes up heads every time. Statistics insist that everyone have a slow patch sometimes.

Quota is an unreachable number. If your quota keeps changing, it usually is growing. There is a market potential beyond which higher numbers are impossible. There aren't enough hours in the day, or customers in the market to make the numbers required sometimes. This is a very bad sign. It means management hasn't aligned their outlook with current market conditions. It tends to make the relationship between sales and management adversarial. Particularly in organizations where sales pros are also the primary account managers, the more clients you have, the less likely it is you can keep hitting big numbers based on the sheer volume of time it takes to keep your accounts happy.

Your reputation is, well, tarnished. Remember that in sales, it's all about trust. If the prospect doesn't trust you, they won't trust what you tell them. Have you been professional, thorough, and honest in every interaction? The grapevine will bite you in the end. At one happy hour, one of my managers became very drunk, and very belligerent. (Yes, he was old enough to know much better.) Within two months, the company transferred him out of the area with a stern warning: you've made yourself poisonous to the restaurant community once. Any further trouble, and you're fired.He was lucky. Bad behavior has a way of living on forever. You never know who knows each other, or how long your outburst will live in social media. Clean up your act. You have a very public job. It will make a difference!

7 Secrets of Successful Sales Pros

As I travel from client to client, I'm asked one question more than any other: What kind of people make the best salespeople? While there is no one answer, there are some common characteristics I see in most successful sales professionals. A great sales pro may not possess all of them, but they all seem to have at least a couple. These are the characteristics of the most successful sales people based on my surveys and experience:

The best salespeople are those who love people, and love their product. They find a way to enjoy every client contact. Real enthusiasm can't be faked, and the top sales pros bring it to every situation.

They understand that hard work pays off, and no work pays nothing. They don't care about quota. When they're ahead of quota, they work just as hard as when they're behind. It's the best way to keep the pipeline full and the customers happy. They do the "invisible work" of networking and researching so they're always prepared to act.

They are active and attentive listeners. Success in sales comes from being client-centered. The best of the best pay close attention to their prospects and customers, and always ask probing questions to get to the heart of the matter.

Giving up isn’t an option. Sales leaders work when they're sick. They work when they're tired. They work when the outcome looks iffy. If they don't succeed, it isn't because the didn't give their best.

They think on their feet, and make their company look good while meeting the needs of the client. Companies and sales pros succeed and fail together. If a customer loves you, but hates your company, the relationship is doomed to failure. Team spirit isn't just for sports, it's for business, too!

Solving the customer’s problem while achieving the customer’s goals is the most important thing to them, and they do it every time. The only goal a client wants to achieve is their own. They don't care if you hit quota, or if your company is having a milestone anniversary. They want to meet or exceed their goals. The most successful sales pros never forget this.

They believe in long-term planning their sales, so they never waste an opportunity to leave a great impression, even when a prospect isn’t in the market today. What makes a prospect a prospect is that there is a chance they will purchase your product or one that serves the same purpose. The best pros learn the prospect's business goals, and follow up periodically to stay current and relevant. If the prospects aren't in the market today, they will be another day. Generating a positive relationship with non-buying prospects saves a ton of groundwork when they finally are in the market.

All of these skills and characteristics can be developed. If your team is lacking any of them, coach them to add to their skill set, and to your bottom line!

You Say You're In A Slump?

In sales, like all things, our performance is inconsistent.  Even the best, most solid of us have times where we perform below normal, and even the worst of us sometimes perform magnificently.  What gives?  Luck.  Really!

Let's think about the biggest reason it might not be your fault: statistics. Every time you flip a fair coin, the chance of it coming up heads is 50%, because that's the number of possible outcomes, or 1 over 2.  (You'll never get both results from a single flip.)  If you flip 5 heads in a row, the chance you'll flip a heads on your next toss is still 1 in 2, because the coin still has two sides.  (There is a human tendency to think the results of the previous flips will change the odds, but it really doesn't work that way!  Learn more here: The Gambler's Fallacy.)  How can that help us in sales?

Statistics tell us that stretches of positive outcomes and stretches of negative outcomes will happen.  The reason this is good news is that if you haven't closed much lately, the odds are reset to normal every time we knock on a prospect's door. You're no more likely to have a negative outcome if you're in a "slump" than if you were on a "winning streak" if all other things are equal.  It's just like the coin flips - the previous sales call has no effect on the next sales call.  (We're still assuming you are not suddenly less capable and talented, you're just in an unusual patch of bad luck.)

But sometimes it's hard not to let self-doubt creep in.  After several unsuccessful sales calls in a row, we begin to dread adding another failed sale to the list.  What's a nervous sales pro to do?  Snap out of it!  Dread will put you an a frame of mind that "primes" you to expect defeat.  Your language and tone of voice change, and your customer will quickly lose confidence in you and the product. If you psych yourself out, you will be the problem.

Instead, run through a checklist of the information you need to convey before you meet with your customer.  Review any goals the customer is trying to achieve.  If you don't know their goals, make sure you plan to learn them.  Doing this will remind you that you do, in fact know what you're doing, and are properly prepared.  Then, go into your meeting with confidence that you can help your customer achieve their goals by buying your product.

Still feeling a little nervous?  Play your stereo loudly and sing along to an upbeat song.  Studies show this increases mood and confidence, even if you're a lousy singer! Remember how well you did in closing a few difficult deals, and how good you are at helping customers achieve their goals.  Positive visualizations and self-talk are also backed by science as mood-lifters and performance-enhancers.  Calm down, cheer up, and go get 'em!

If your slump is, in fact due to some problem on your part, it will become clear soon enough.  Each sale will break down in the same place, or you'll be defeated by the same objection over and over. That problem is easier to fix - you can pinpoint the problem and train yourself accordingly!