Posts Tagged business

Sales Management – Here’s 7 Disciplines to Expect From Your Sales Team

1. A good attitude.

If your sales team does not have a good attitude, you have problems from the very start. A good, positive, sincere attitude can be contagious. A bad attitude in the group won’t necessarily kill the group, but it is like driving with a flat tire. You can get there but it will take longer, and it’s ugly.

You can do a lot of things to help nurture a good attitude, but it’s basically up to each individual to have a positive, upbeat outlook. Sales reps with constructive attitudes are ready to talk deals first thing in the morning and are always eager to learn. They usually don’t need coaxing and just want to get going. I will discuss how to help reps pick up their attitudes in a future article.

The rep with the bad attitude needs to be called out right away; in front of everyone. Note: Hardly ever should a manager discipline any direct report in front of others. Praise in Public. Punish in Private. However, this is one case I think it’s important to confront the rep in public and let them know they are affecting the whole group. Yours is a team effort and they are hurting the whole team. This affects the company’s success and others’ income.

2. A desire to get better and learn.

Sales reps, like other professionals, need the drive to become the best at their craft. With the web, eBooks, podcasts, email newsletters, etc., it is easy to find relevant, well-designed sales training. A lot of this training is free. You can do your part by providing an environment that is abundant with tools and by pointing them to the above resources. A regularly scheduled training session is also a must. You may get resistance at first, but the reps who want to succeed will come to demand these sessions.

3. A desire to be better than the competition.

No mistake about it, the top performing rep is the one who does not like to lose. This is great, as long as they don’t point those fangs internally. Everyone likes to win. You want reps that hate losing to the competition and don’t well taking second place. You must instill the concept that “there is no money for second place in sales.” Until they embrace this concept, they will never have that sense of urgency.

4. A guaranteed number of QUALITY calls.

Your reps need to be thinking about making quality calls rather than focusing on quantity. They should not want to leave the office until a certain number of quality calls are made – meaning new prospects or current prospects that are moving closer to a sale. There has always been a big debate with sales calls quantity versus quality. (I am not talking about cold calling lead generation here. This pertains to reps that can move a prospect from warm to close.) I am both a numbers guy and a quality guy. If your reps practice, drill and rehearse, and then add quantity, the sky’s the limit.

5. Documentation for every call.

Sales reps come and go. You just don’t want them to go with the knowledge of your customers in their head never to be seen by your company again. Whatever system you use for tracking customer interactions, you need to make sure your reps use every bit of it. Every phone conversation, meeting, presentation, etc., needs to be documented in your CRM system. Additionally, it is a good idea is to send a followup email or letter after a presentation, strategy call or demo. It should document who was present, what was discussed, and what the action items are for each party.

6. The highest degree of integrity.

You cannot be one kind of person and another kind of sales person. You cannot tolerate (or afford) to have unethical sales people in your company. One thing, that should get a sales rep fired on the spot, is lying to or misleading a customer or prospect. How your sales reps act with your clients is a reflection on you and your entire company. This rule should be posted and communicated to every rep (and employee) from their first day of employment. Read the rest of this entry »

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How To Double Your Income: An Insurance Producer’s Guide To Improved Sales Performance Management

Is it conceivable that you, an insurance producer, could actually manage your own sales performance, and, with improved sales performance management, double your income? Yes, it is. It’s not only conceivable, it’s attainable, if you’re willing to set specific, concrete and measurable goals and make them compelling enough to drive you to that end. Here is a ten-step guide to goal-setting and improved sales performance management. Adopt these goals as your own. You won’t believe the results they will produce for you.

Goal #1. Assess your skills and abilities. Create a list of the skills and abilities you’ve acquired through past work experience or education. Many successful insurance producers have had experience in fields like marketing, consulting, product development and public relations. Concentrate on those areas where you have a high level of competence. Integrate these skills into your day-to-day sales activities. Shape them to fit your understanding of the insurance sales process.

Goal #2. Ask yourself why you want to double your income. If you’re in your late 20′s or 30′s, you might want to pay off your house or have money in the bank when your wife quits work and you start a family, or maybe you just want to be able to afford the lifestyle you’ve created for yourself. If you’re in your 40′s, you may want to keep your children in private schools or save enough money to put them through college. If you’re in your 50′s, you might want to pay off all your debt, buy a second home or save for retirement.

Goal #3. Meet with your sales manager/agency principal. Enroll them in the possibility you have created for yourself to double your income. Determine what their goals and expectations are of you. What do they want you to accomplish this year? What role do you play in the goals they have set for the agency? Make sure your goals align with theirs. Get a commitment from them that they will support what you hope to accomplish. Let them see your passion and your desire to grow financially.

Goal #4. Practice the 80/20 Rule. Not everyone is interested or qualified financially to purchase your products or services. Don’t waste time chasing after them. If there is no new business to be had from the bottom 80% of your accounts or no new prospects to be found, don’t spend your time working these accounts. Continue to service them. Meet regularly with them and work to maintain and retain their business. But going forward, let go of the small stuff and replicate the big stuff – the stuff that got you your top accounts. These accounts are the ones you want to analyze and this is where you want to spend your time. The top 20% of your accounts are likely to be generating 80% of your income. So who’s generating the most money for you? Where can you find new prospects and new business opportunities there?

Goal #5. Create written service agreements. Don’t slack off when it comes to customer service. When your clients need you, they want to know you’re going to be there for them. If they buy a new building, they want to know you can insure it. If they have a claim to file, they want to know you will report it. If they need more coverage, they want you to sell it to them for a good price. This kind of service fosters trust which translates into a lasting business relationship. Take the top 20% of your accounts and put each of them on a written service plan to guarantee a high level of customer service and to ensure that they will be maintained and serviced regularly. Set a goal to create two written service agreements per week until all of your top accounts have one. Going forward, set a goal to create one of these agreements with every new account. Read the rest of this entry »

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