- You Need to Know This About Setting Sales Goals [New Research]
Most sellers have a quota, or a sales performance target, that is set by the sales leaders at their organization.
When it comes to setting these sales goals, there are two general philosophies organizations tend to take:
Set low goals, with the expectation that most sellers will meet their quota, resulting in a positive psychological and cultural effect.
Set more challenging goals, expecting sellers might not hit them, but due to the Pygmalion Effect, they will achieve better results overall.
The core message of the Pygmalion Effect is that, once an expectation is set, people tend to act in ways that are consistent with that expectation—the greater the expectation, the greater sellers will perform.
Which philosophy makes the most sense? Which is more likely to drive not only sales goal achievement, but higher revenue?[click to continue...]
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- What Separates the Best Sales Organizations from The Rest?
One of our primary goals at the RAIN Group Center for Sales Research is to find out what real sellers and sales leaders are doing to achieve their results. With What Sales Winners Do Differently, we wanted to know what individual sellers do to win sales opportunities compared to those who come in second place.
In our recent Top-Performing Sales Organization study, we shifted our scope to an organizational scale, looking to answer the question: what do the Top-Performing Sales Organizations—those with the best sales results—do differently than The Rest?[click to continue...]
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- What is Consultative Selling?
Since Mack Hanan coined the term in 1970, consultative selling has been the most widely accepted—and most pursued—sales approach. The approach is characterized as understanding buyer needs and positioning offerings as solutions to problems.
While this has been the go-to approach for many sellers, massive changes in buying technology and the vast amount of information on the internet is significantly changing how buyers buy at an unprecedented pace.
This traditional approach to consultative selling is no longer enough by itself for sellers to compete and consistently win.[click to continue...]
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- Analyzing Sales Performance: Components of Strategy
As they say, if you don’t know where you’re going, any road will get you there. If you want to drive sales performance at a company, you can focus on all sorts of tactical areas—from people and training to enablement and operations—but none of these address the fundamental questions: Where are we going? What are we doing to achieve our goals? Who will lead us there?
Thus Strategy is one of eight categories of the Sales Performance WheelSM we study when analyzing how to drive the performance of a sales organization. The Strategy category of the wheel focuses on the factors that most affect the direction of the sales organization.
Here are 5 components related to sales strategy we analyze...[click to continue...]
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- Advanced Consultative Selling: Selling in the Blue Ocean
For the last 50 or so years, consultative selling has been the go-to approach for most sellers.
In traditional consultative selling, the buyer states a need and the seller positions their offerings as solutions to problems. This used to be enough to win the sale. But today’s buyers often perceive sellers and their capabilities to be somewhat interchangeable. This leaves sellers stuck in a capabilities battle, fighting price pressure.
The traditional consultative sale, with the need defined by the buyer, looks like this...[click to continue...]
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