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The New Year has brought a new set of challenges and opportunities for sales professionals. In this webinar, leading sales expert Susan Barrett from the Barrett Group and SmartCompany’s James Thomson will examine the trends that sales people need to get in front of.
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James ThomsonSmartCompany.com.au
Sue Barrett Founder & MD of Barrett Pty Ltdwww.barrett.com.au
Sales trends for 2011
This webinar will start at 2pmAEST
James ThomsonEditorSmartCompany.com.au
Today’s Sponsor
http://bit.ly/evBoSf
Sue Barrett Founder & MD of Barrett Pty Ltdwww.barrett.com.au
Welcome to
12 Sales Trends
Presented by Sue Barrett, Founder & MD of Barrett Pty Ltd
Webinars 2011
Consulting
& Coaching
Campaigns
& Training
Culture &
Capability
Barrett
Research 28 Day
Sales Challenge
©2011 BARRETT
T +61 3 9532 7677
F +61 3 9532 7388
www.barrett.com.au
PO Box 277
Caulfield South
VIC 3162
Talent
12 Sales Trends Agenda
•Rethinking Solution Selling
•Rethinking traditional incentives and rewards
•Collaboration & Creativity: why sales is a team sport
•Sales leaders are the key
©2011 BARRETT Specialists in 21st Century Sales Mastery
the evolving
salesperson
the company secretary
company car
product features
she’ll be right mate
product focus
the o
rder
sheet
slower pace
local marketslocal manufacturing
1970’scustomer loyalty
greed is good
Clo
se
the
de
al
CALL
ME
mobile communication
Build
BIGGER
product
benefits
word processingthe car
the long lunch
1980’s
database
sh
ould
er
pad
s
1990’s
the rise of the corporation
big
com
mis
sio
ns
high stress
recession
solving problems
the mobile phoneemail
Get
sm
art
doing deals
trust me
teamwork
client partnerships
onlineanywhere
Be informed
going global
2000
Sell the way the
customer needs to buy
e-volve
security
Frequent flyer
web 2.0
values alignment
2011&
Beyond
connect & collaborate
the new
transparency
get personal
create & innovate
knowledge & ideas
TRUST
dig
ital
liste
nin
g
people power
everybody lives by selling
something
Glo
ba
l colla
bora
tion
sales 2.0
blogging
The Evolution of Selling
©2011 BARRETT Specialists in 21st Century Sales Mastery
1970’sproduct features
1980’sproduct
benefits
1990’saggregation
of products
2000sell the
way the
customer
needs to
buy
2011+
get
personal,
get
creative,
collaborate
Solution Selling is now a commodity sale
©2011 BARRETT Specialists in 21st Century Sales Mastery
solutions
solve
problems
collaboration & creativity
produce
ideas, innovation & results
Automation reduced products & solutions to
Commodity Purchases
People are willing to pay for this
products
meet
needs
Rethinking Incentives & Rewards
©2011 BARRETT Specialists in 21st Century Sales Mastery
myt
hs If you reward something you
get more of what you want
If you punish something you get less of what you want
fact
s Monetary incentives improve performance for mechanical tasks only
Monetary incentives result in poorer performance for cognitive &/or creative tasks
21st Century Selling is a Cognitive / Thinking / Creative Function
Rethinking Incentives & Rewards
©2011 BARRETT Specialists in 21st Century Sales Mastery
fact• Money is a motivator at
work so if you do not pay enough they will not be motivated to work
fact• Pay people enough to
take the issue of money off the table so they are not thinking about money and you will get better performance
Rethinking Incentives & Rewards
©2011 BARRETT Specialists in 21st Century Sales Mastery
Purpose
Mastery
Autonomy
‘Drive, the surprising truth about what motivates us’, Daniel Pink
Rethinking Incentives & Rewards
©2011 BARRETT Specialists in 21st Century Sales Mastery
•Used when difficult to assess sales force activity and performance or when team selling is important i.e. complex sellingStraight salary
•Paid % of sales or gross profit – rewards people from accomplishments rather than effortCommission only
•Used to provide more income security while bonus gives added incentives. Usually paid annually and based on sales quote or gross margin
Salary plus bonus
•Comprehensive payment plans combine the stability of salary, incentive of commissions and the special reward of bonus
Salary plus bonus & commission
•Team selling is becoming more critical as business becomes more complexTeam selling
Sales Is Now A Team Sport
©2011 BARRETT Specialists in 21st Century Sales Mastery
The Sales Leader – International Research
• Most Sales Managers reported that they were given no formal
training in Sales Management practices, either before or during
their tenure as a Sales Manager.
• When Sales Managers were more frequently and better trained
and coached then their sales teams achieved higher performance
and results.
• In no other type of sales training was a more positive correlation
found between frequency of training and sales performance.
©2011 BARRETT Specialists in 21st Century Sales Mastery
ASTD Research Study 2009
The Sales Leader - Coaching
©2011 BARRETT Specialists in 21st Century Sales Mastery
0%
20%
40%
60%
80%
100%
120%
< 2hrs 2-3 hrs 3+ hrs
High
Average
Low
90% 92%107%
Teams not receiving coaching underperform by
a significant margin
On average, teams that report receiving more than
3 hours of coaching per month exceed their goals by
7%
Coaching hours per month
% to goal
Source: Sales Executive Council
21st Century Sales Leader
©2011 BARRETT Specialists in 21st Century Sales Mastery
sales leadership effectiveness
strategic action
coaching
team building
self mgt
global perspective
technology
For more help
If you want to talk to someone about developing
Sales Mastery contact us on:
(+61) 03 9532 7677
www.barrett.com.au
Remember everybody lives by selling something
©2011 BARRETT Specialists in 21st Century Sales Mastery
About Sue Barrett
©2011 BARRETT Specialists in 21st Century Sales Mastery
Founder & Managing Director of Barrett, est.1995
Business Advisor, Speaker, Qualified Coach, Facilitator, Trainer, Writer, Interviewer.
Lead sales writer for www.smartcompany.com.au
& other publications (local & international).
Over 200 published articles to date.
1997 Winner of Telstra & Victorian Government Small
Business Award
Inducted into the Business Women‘s Hall of Fame 2000
Finalist 1998 & 2001 Telstra Business Woman of the
Year Awards
ACE Sponsor, Victorian Institute of Sport
(VIS) since 1991
Interviewed over 8,000 sales people and sales managers for
recruitment purposes.Assessed over 70,000 people in
sales & leadership. Trained over 15,000 people in
sales, sales leadership, teams & culture.
Currently researching & interviewing high performing
women for her 1st book ‘Sell Like A Woman’
Built 1st Australian Sales Competency Dictionary & profiled & mapped 100+ different types of sales &
sales leadership roles
Mother to 2 boys, partner, competitive swimmer &
hockey, enjoys painting & performing in theatre, a
keen practitioner of yoga & meditation, & passionate
CATS supporter
Thank you