Is Sales Prospecting The Job of A Marketing Dept?

Nov 23
2011

Well in a word, yes. The task of selecting vertical markets and companies that fall within those verticals or targeting individuals with specific roles within those companies is actually ‘marketing 101′. The question is -should a Sales department be doing the marketing role of prospecting? I’ll give you the usual consultant’s answer and that is ‘it depends’.

What it most likely depends on is the size of the organization and whether they can afford to have a proper marketing department. If the organization is too small then perhaps the sales department is required to double up on their efforts and perform marketing tasks in order to find customers to sell to. If you’re in sales imagine if you had nothing but qualified people contacting you with questions about your product or service? What if you’re in sales management and your team had nothing to deal with but organizations contacting yours about services that you sell while your team was equipped with all the materials they needed to educate, answer questions, demonstrate your services and close sales.
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Four Key Attributes of a Sales Manager

Nov 23
2011

Considering the multiplying effect of sales managers on an organization’s performance, I am amazed at how little attention the capabilities required for this position gets. Can you recall any “A” players that you have encountered in this position? What kind of person he or she was, what behaviors they exhibited, and how they inspired their staff? Or do you only remember the revenue they did – or did not -generate?

When you dig in, there is a laundry list of competencies, personal characteristics, and critical success factors that are common to the “A” players. Here is a handful that I find are “must haves” for impacting performance.

#1: Ability to befriend change (and resistance). The only constant in high tech is change. New products are introduced, markets shift, revenue goals are adjusted, and territories reassigned while buyers become more sophisticated. Sales organizations must adapt, re-evaluating and adjusting processes, tools, people, and selling behaviors in order to realign with change and be effective. One of the most challenging areas of change is the resistance to change that comes from sales people. Sales managers must be able to embrace and articulate changes in the vision of your company to their team – all while generating excitement, enthusiasm, and commitment to the vision. When a sales manager is able to skillfully gain the support of their team to make the organizational vision a reality, they will be successful. Read the rest of this entry »

How To Use Risk Reversal for Improvement

Nov 17
2011

Asking for customers to risk money in buying your products or services is very hard and most likely your customers will say no to your offer. When having a business, it is necessary to remove as much risk you can for your customers.

You should focus on making your customers say YES to your offers instead of no. If you simply sell you products to your customers then you are just like asking for them to take all the risk while you gain money. It is important to be aware about the Risk Reversal because this can help you lessen or remove risk and will allow clients to respond to your offer.

First of and foremost, you should eliminate all the risk and this is going to be your goal. Make it easier for your clients to buy your products or avail your services in order for your business to achieve its goal. Read the rest of this entry »

Is Your Revenue Reporting System Error Free?

Nov 17
2011

Revenue reporting is a basic performance measure of a company, but it can be complex to manage and has the greatest risk of errors and inaccuracies. According to a survey conducted by RevenueRecognition.com, revenue reporting is one of the most difficult tasks for many companies. More than 35% of the companies, who participated in the survey, reported that revenue recognition accounting is the most complex process to manage.

Many companies are facing similar problems with their revenue reporting systems. Since revenue is the key factor for every business, it is essential to employ an efficient tool which helps the organization to avoid risks associated with the error reporting. Read the rest of this entry »

How To Avoid Financial Risks In Business

Nov 17
2011

Any type of business, whether big or small, is open to risks. Even the successful entrepreneurs would tell you that this is a given regardless if you’re just starting out or already doing business.

Risk is inevitable. In fact, it’s what keep business owners up to their toes most of the time. It’s what makes business more challenging and rewarding. Experts believe that the greater the risks involved, the greater are the rewards that lie ahead.

So if you’re in business, never fear these risks. With the right attitude and the right steps, you can manage them and achieve success moving forward. Read the rest of this entry »

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