Jill Konrath | Selling to Big Companies

Part II: Is your sales team making the numbers?

On Monday, I posted the first part of my interview with the authors of the Making the Number. As I said earlier, this book can really shake up the sales organization - but in the process, take it to new heights.

I recommend it to any business owner or sales executive who is serious about doing just that.

Here's Part II of my interview with the authors:

1. How does sales benchmarking help predict sales performance?

Sales benchmarking is diagnostic technique that focuses on leading not lagging indicators. Instead of sales leaders reviewing quota attainment results, they can use it to focus on metrics like pipeline-to-quota ratio. In short, sales benchmarking enables sales executives to look over the horizon instead of drive using the rear view mirror.

2.  What are the first steps in getting started with a sales benchmarking effort?

Here are four things you can do immediately when you visit our www.salesbenchmarking.com home page.

• Watch a video about how Bill James and his how Sabermetrics approach helped the Boston Red Sox win the World Series. You'll learn why this has relevance to sales benchmarking.
• Download a copy of the World Class 100.
• Check out the video from NetSuite CEO, Zach Nelson. He discusses how sales benchmarking helps his company close business.
• Take a sample benchmark at www.salesbenchmarkindex.com/benchmark

3.  How much does something like this cost?

Our programs start at $1,500 and go to $500,000 plus. It is based on a pay as you go cost per metric. Typically, the cost of a sales benchmarking program is less than 1% of the benefit it provides.

4. What are two or three takeaways for everyone who reads your book?

• Takeaway #1: You can and should compare yourself and your sales force to peers.
• Takeaway #2: Look at world-class sales organization performance to determine where you should close the gap.
• Takeaway #3: Use best practices benchmarking as the means of closing the gap and driving shareholder appreciation.

Many thanks to author Mike Drapeau for the sharing his thoughts on sales benchmarking. If you embrace it, everything changes!

Is your sales team making the numbers? If not, check this out.

It's been a long time since I've read a book that has the potential to shake up the sales profession! 

But Making the Number: How to Use Sales Benchmarking to Drive Performance, the new book by Greg Alexander, Aaron Bartels, & Mike Drapeau is one that will.

The authors show you, step-by-step, how almost any sales organization can improve dramatically - and I mean that! But it's not a cakewalk. If you're an entrepreneur or sales leader, you'll definitely want to check it out. 

While you're waiting for your copy to arrive, here's Part I of my interview with the authors:

1.  What motivated you to write this book?

We all came to the subject from separate paths. Greg came from the sale management and was tired of the claim that sales artistry trumped sales measurement. Aaron came from sales operations and was frustrated with the difficulty of comparing one organization to another. Mike, who came from marketing, had struggled to find a way to depict the inefficiencies in the Sales-Marketing interface.

2.  How do you define "sales benchmarking?"

It's a rigorous methodology that uses empirical 3rd party sales data to help executives understand how they're performing relative to a peer group.  The output of this effort is:

• Accurate identification of sales process weaknesses
• The ability to prioritize improvement initiatives
• And the ability to apply best practices.

3. How does sales benchmarking benefit the individual?

There is a whole chapter in the book on just this very topic. Let me quote:

“Sales benchmarking allows salespeople to better manage their most precious resource—time. It allows salespeople to focus on those opportunities with the highest probability of success.

"Data-driven decision making enables sales reps to eliminate non value-adding activities that consume selling time.

"Furthermore, it can assist individuals in making more informed decisions about which types of companies and for what kind of sales leadership to work.”

In summary, the book title says it all - a sales leader will make their number after reading this book.

4. What's the difference between sales benchmarking and sales analytics?

Sales analytics is when companies collect and analyze sales data. They run reports, compare current to past performance, stack rank sales reps, and attempt to build forecasts.   

In order to do sales benchmarking, an organization must be doing some form of sales analytics. The difference, though, is that with sales benchmarking, an organization also does the following:

• Adopts a common classification scheme for their internal data.
• Compares internal data to external data of peers.
• Leverages sales best practices from high performers in other industries.
• Tracks leading indicators.

Sales benchmarking helps you compare what your organization is doing to companies in other industries - as well as make significant improvements to you bottom line in the process.

On Thursday, I'll publish Part II of my interview. The authors will answer these questions:

• How does sales benchmarking help predict sales performance?
• What are the first steps in getting started with a sales benchmarking effort?
• How much does something like this cost?
• What are two or three takeaways for everyone who reads your book?

Once again, if you'd like to check out this book on Amazon, here's the link.

Hidden Gems: What I found hidden deep in my email

After viewing Merlin Mann's 1-hour Inbox Zero video presentation at Google, I decided it was time to tackle my unwieldy Inbox. It felt great to delete, delete, delete all those old messages I intended to do something about at one time, but were no longer relevant.

But every once in a while I uncovered a hidden gem. Earlier this year, Brand Extension blogger Tobias Singer sent me this great story on buying a rug in Turkey. Having been through this experience myself, I totally appreciated it!

Plus, writer Mitchell Weisburgh does a great job pointing out the relevant sales lessons, even for business-to-business sellers. I thought you'd really enjoy it.

What I Learned Buying a Rug in Turkey

I had no intention of buying a rug on our trip to Turkey in December 2006. Certainly, not on the first day. I’d already purchased a rug; when my son and I had been abducted in Tunis, Tunisia in 1999. But, that’s a different story.

Yet, there I was, just 4 hours after arriving in Istanbul, shaking hands with a rug merchant as he packed up our newly purchased kilin carpet. How did this happen?

Educators, business people, publishers, we all seek to influence others, and we are all influenced by others. Perhaps my experience in Turkey, seen through the prism of an expert in the principles of influence and persuasion can help us all.

First, let me describe the events leading up to the purchase. Then, I’ll relate those events to principles contained in the book Influence: The Psychology of Persuasion by Robert Cialdini.

InBox Zero: How to get control of your inbox & keep it that way

I don't know if your inbox just keeps growing and growing, but mine does. Day-by-day, message-by-message, it keeps getting fuller and fuller.

Sometimes I feel like a total slave to my inbox.

Fortunately, my recent discovery of Merlin Mann's blog led me to a special 43 Folders series of articles the show you the skills, tools and attitudes to empty your email inbox - and keep it that way.

Plus, I listened his 1-hour Inbox Zero presentation at Google which had lots of good ideas in it. If you need some help to regain control of your inbox and your life, this is a good place to start.

P.S. Many corporate decision makers get 150 - 300 email per day. If I'm feeling like this, I can't imagine how they're feeling!

Enough of "Business as Usual"

In our overworked, stressed-out world, sometimes it's good to take a break. I hope you enjoy this wonderful "Finding Joy" movie.

May your day be uncomplicated. May your life be filled with ...

... passion
... loving relationships
... work that matters
... laughter
... beauty
... & dreams of a better future

Just One Word Today ....

VOTE! That's right.

If you live in the United States, I encourage you to make your voice heard today. It truly does count.

If you've never voted before, please go to the polls.  If you've already voted, once is enough!