Market Your Expertise with Paper.li

Sales, Marketing & Social Media Today

Blogging is a great way to establish and market yourself as an expert. However, there is only so much you can write on a topic in a time period. This is where content curation comes into play. Besides writing, experts share articles and opinion of others in their field. This can come in the form of a retweet on Twitter, like on Facebook, +1 on Google plus and various other forms of re-sharing. However, if you want to curate content from multiple sources, an online newspaper comes in handy. This is where Paper. li comes in.

I use Paper.li to share content on sales, marketing and technology. This is a great way for me to engage my followers with the content and opinions of others in my field.  People who are included in my papers frequently retweet the paper and mention me on Twitter. 

Paper .li is a great site…

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Sales Reps: Want to Boost your Sales? Study your Sales Data & Do the Math!

Math and Sales Data are essential to improve the sales efforts of Sales Reps. The use of Math and Sales Data can provide a wealth of insights in terms of how effective a businesses sales campaigns are doing. In my previous post, How to be your own Manager of Sales, I detailed how Sales Reps could track their own sales numbers using a Closing ratio.

“Closing ratio is calculated by taking the number of sales you make per day, dividing them by the number of sales calls you have made and setting it equal to X/100. Next set each of the proportions equal to each other, cross multiply and solve for X. For example, if I made 3 sales per day and made 30 calls per day; my closing ratio would be 10 percent. 3/30 = X/100 = 10%. Try this with your own sales numbers”

Our closing ratio can be further extended to examine the number of exposures it takes to convert a prospect into a customer. I will call this the Prospect to Customer conversion ratio. The prospect conversion ratio is a great way to examine your prior sales calls to determine how hard you will need to work to get the sale. For example, during my time as an Outside Sales Rep in NYC; it would take me as many as 10 exposures before I was able to convert some prospects into customers. Some times the number of exposures were as low as two or three or some were as many as 20. Typically, if I cold called and the customer never heard of my product it usually took about 10 exposures. To calculate this ratio for a particular customer,I would take the number of times I called on the prospect and divide it by 1. For example, if it took me 20 exposures to convert the prospect to a customer, I would divide 20/1 and my prospect to conversion ratio would be 20/1. If it took 10 exposures, the ratio would 10/1 for that particular customer. If you track your prior sales calls and examine the Prospect to Customer conversion ratio; you will notice a pattern in the number of exposures to sales in many cases.

However, this method will work in all cases. Remember, not all prospects are created equal. As a Sales Rep, you need to prove to prospects that you and your product are worth it’s purchase price. There are no free customers unless you are calling on a new start-up. In most cases, Sales Reps will need to take prospects from competitors.

Using both the closing ratio and the prospect to customer conversion ratio; will provide Sales Rep with invaluable snapshot insight into how they hard you need to work along with how effective they are in the field. If you are a Sales rep and you are not examining your call patterns, I guarantee that your Sales Manager is!

In fact, most Sales Managers use both the closing ratio and the prospect to customer conversion ratio to set sales goals and daily sales call requirements for Sales Reps. This Math and Data analysis is also used to help Sales Managers mentor their team.

As you can see, studying the data from sales calls and doing the math using ratios are power methods for Sales Reps to use to boost their sales.

 

How to be your Own Manager of Sales

Anyone who is in inside or outside sales has to meet sales quotas/sales goals of a certain type. The role of a Sales Manager is to hire, mentor, train and motivate the Sales Team. A Sales Manager is also accountable for setting the sales goals of their team and making sure that these goals are meet and exceeded. Sales Managers are provided with salary and an override of the teams total sales. Each Sales Reps goals make up a piece of this total sales goal. A Sales Manager’s duties will vary by the size of the organization and it’s structure.

Now you are asking ” How could I be my own Manager of Sales? Why would I want to be? The first step to being your own Sales Manager is to track your own sales numbers. Every Sales Rep worth their salt should know exactly how much product they sold and how close they are to hitting and exceeding their goals. Sales Reps also need to be aware of their own sales process.

Sales process consists of knowing how to prospect, convert leads to sales and know your closing ratio. Closing ratio is calculated by taking the number of sales you make per day, dividing them by the number of sales calls you have made and setting it equal to x/100. Next set each of the proportions equal to each other, cross multiply and solve for X. For example, if I made 3 sales per day and made 30 calls per day; my closing ratio would be 10 percent. 3/30 = X/100 = 10%. Try this with your own sales numbers. Knowing how many exposures it takes before you make a sale is also helpful.

The next step to being your own Sales Manager is to stay on top of your territory. Some Sales reps are called Territory Managers. Territory Management consists of the following:

1 developing and keeping good customer relationships

2 knowing how to meet and exceed customers wants, needs and expectations

3 Using a consultative selling approach to successfully do number two

4 providing great customer service where customers feel taken care of

5 making sure all receivables are paid in a timely manager by doing number four

Next any good Sales rep needs to train and motivate themselves because their Sales Manager has limited time to go out with reps as they have their own selling responsibilities. Sales Reps need to be motivated to stand tall in the face of rejection. Live training is a great way to go, but if you are looking for a more affordable option you can by books, watch videos and role play with other reps. I recommend the following Sales trainers materials and programs Jeffrey Gitomer, Jim Cathcart,Tom Hopkins, Tony Alessandra and Brian Tracy. They have motivated and inspired me to be a better Sales Rep. Earl Nightingale’s program Lead the Field and The Strangest Secret has also helped me develop and cultivate a positive attitude.

It is essential that you own your role as a Sales Rep. As a Sales Rep you are in your own business without all of the expenses. If you treat the territory like you would a small business; you will do very well.

If you master all of the steps I mentioned; you may indeed be promoted to Sales Manager or be able to start and run your own business one day!

Do Sales People Need to Double as Product Marketing Managers for their offerings?

Sales, Marketing & Social Media Today

Do Sales people need to double as Product Marketing Managers for their offerings?

When it comes to knowing who their customers are along with their needs; they do.

Previously, I spoke about prospecting and identifying your target market. I will cover this topic in more detail in this post. I stated that it is important to know who would be a good fit for your offering. For example if you were selling Dental equipment like I was, you would look for Dental professionals in your sales territory, you would not call on other medical professionals and offices that do not have a need. When I was selling Dental equipment, I sold devices that any Dental professional could use. However, I also sold items that only specialized Dentists could use. As a result, I had to do research to distinguish between my offerings. For example, I would not present…

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