- Average Sales Win Rates: How Do You Compare?
Two sellers are talking at the end of the day. One turns to the other and asks, “How was your day?”
“I had a great day,” the second seller says. “I sent out two proposals this morning, had a great first meeting with a new potential buyer, and finally got a meeting with a decision maker I’ve been trying to reach for a year!” Feeling proud, he asks the first seller, “How was your day?”
He answers, “I didn’t sell anything either.”
This is one of the challenging-yet-great things about sales. It’s measurable. At some point, you have to bring in the wins or you fail. Which begs the question, “What brings in the wins?”[click to continue...]
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- The ABCs of Selling
At some point or another, you've probably heard of the ABCs of selling: Always Be Closing. The mantra was popularized by Alec Baldwin in Glengarry Glen Ross (warning: strong language).
It's not as simple as Baldwin's character would have you believe. In a complex sale, there are multiple decision makers, sales cycles extend for months on end, and relationships are crucial for winning sales and growing accounts.
To help you navigate the complex sale, we've put together our own ABCs of selling, with an important sales concept you should know assigned to each letter.[click to continue...]
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- The 6 Phases of the Buying and Selling Process [PDF]
When organizations have a "World-Class" sales process, the win rate from proposal averages 57%. When the sales process is merely "Defined," the win rate averages just 44%.
Getting your sales process right, and knowing it inside and out, is essential if you want to bring in wins consistently. 80% of Elite Performers (the top 7% of respondents to our research study) have sellers who are deeply knowledgeable about their company's sales best practices. Only 34% of The Rest do. To facilitate the sale successfully, you also need to understand the buying process and how it works.
Click below to view a 6-phase framework graphic connecting the selling process with the buying process.[click to continue...]
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- The Top 10 Sales Priorities for 2016
Now is the perfect time for sales leaders to analyze their results from the past year and plan priorities for the year ahead.
In our RAIN Group Center for Sales Research study, we asked 472 sales executives and sellers about what they considered to be their top priorities.
From the results, we pulled the following top 10 sales priorities for the year ahead.[click to continue...]
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- [New White Paper] 8 Drivers of Sales Performance
In the mid-1990s, a fairly common sales strategy was to give a seller a desk, a phone, a business directory, and say, "Go."
Fast forward to today, and selling has become significantly more complex. Companies report ever-increasing challenges regarding product and service commoditization, proliferation of competition, and more informed and sophisticated buyers.
With the rare opportunity to dominate in sales based on product differentiation, with most companies having already squeezed excess cost out of their P&Ls, and with fewer opportunities to get ahead through mergers and acquisitions, there's one last vast sea of opportunity for driving sales and profits higher: sales performance optimization.
But there are hundreds of factors that affect sales performance. The question is: what should you do and where should you invest to get the best results?[click to continue...]
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