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Key Facets of the Modern Sales Environment Some Important Statistics Research-Based Sales Selection Mistakes to Avoid
The Question: How many open sales jobs are currently posted on Monster.com? Over 3,000 new sales jobs have been posted in the last two days. Roughly one-third of all jobs posted on Monster are sales-related.
A High-Pressure Environment
An open sales position, especially at a more senior level, costs us thousands of dollars per day. Plus, one of my companys key HR metrics is position fill-time. So what do we do? Fast, sloppy interviews and hiring too many people who at worst never have a chance and at best do just enough to survive.
Direct quote from SVP of Sales, Fortune 500 Manufacturing Company
The Best versus the Rest versus the Worst Research by PI Worldwide, covering over 100 sales organizations across a wide variety of industries and countries, has revealed that the gap between sales representatives who are top-quartile revenue producers and the median ranges from 50% to 175%. The disparity between the top-quartile and the bottomquartile is often more than 300%.
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Understand Your Companys Current Sales Strategy What do you sell? Who do you sell to? How do you create value for your customers?
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Determine What Behavior is Needed for Sales Success What knowledge, skills, abilities and others (KSAOs) are needed to execute the sales strategy? What separates your A players from the rest? Sales organizations tend to be very metric-driven, but those metrics often focus almost exclusively on:
Outcomes: Ex: Percent to Goal. Lead Indicators: Ex: Appointments made. This type of data is very useful for understanding what happened, but is not as useful for understanding why it happened.
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Assess Current Sales Talent What is your sales organizations current capacity to deliver against the sales strategy? Gap analysis. The knowing versus doing divide. Honest and data-driven answers to these questions will accurately steer selection and retention planning and decisions.
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Coach Where and When Feasible Sales training. But are improvements sustainable? The importance of leadership, coaching, and reinforcement. You cant save the world. Where is time best allocated?
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The Power of Assessments Industry: Automobile Dealerships: A one StandardDeviation increase in ASSERTIVENESS level translated into 46 more cars sold over a four-month period (69 versus 23). Industry: Manufacturing: A one Standard-Deviation increase in PROACTIVITY level translated into a difference of $2 million in sales over a 27-month period ($2,880,981 versus $554,013).
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Are You Making Any of the Following Mistakes? Hiring to an out-dated sales strategy. Hiring sales representatives in your own image. Rushing it. HR/Sales Operations imbalance. No defined process. Defined process, but used inconsistently.
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Thank you!
Questions? info@piworldwide.com | @piworldwide http://www.linkedin.com/in/piworldwide More Information: http://www.piworldwide.com
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