Inbound vs. Outbound... the debate over which leads are "better" has been a constant source of articles, blog posts, and general arguments amongst sales and marketing professionals. While this post, will spend a brief moment defining what makes a high quality lead, I don't feel the need to contribute to the debate anymore, since I have already written about this in the past. Instead, I want to spend a moment pointing out what so many articles have failed to do ... outbound leads and inbound leads are two different entities, so why are so many businesses treating them like they are the same thing?
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Sales coaching vs. sales training. These two terms are often tossed around by C-level executives without truly understanding a) what their teams need to succeed, and b) how they can best help managers support their teams to increase sales and meet established quarterly goals. The challenge of course with the latter statement, is that many C-level executives don't like being told that they are not only wrong, but that they are doing their team a disservice. After all, when you have risen to the highest levels of power within your company, you like to think that you understand every aspect and that you, as the leader, are best suited for making all decisions. Unfortunately, appointing managers the task of being the "sales coach," is like accelerating in a no wake zone; not only is it dangerous, but you are inevitably dooming the entire ship to a disastrous ending.
As a C-level sales executive a major component of your job is to lead. However, another major component of their job is to inspire their sales team. Being an effective leader is about more than giving a pep talk; it requires the understanding that training is not simply for onboarding new sales representatives. Instead, by embracing the benefits of sales training and sales coaching, leaders can not only inspire their team, but they can help them reach new levels of success.
Every time a sales associate picks up the phone, sends an email, or heads to an in person meeting the goal is simple ... improve the client relationship to get one step closer to a sale. This might be a simple goal, but far too often achieving it becomes a convoluted process filled with trials and errors. While experimentation can be helpful in the sales process, it is far more effective on a company level to leverage proven methodologies that stem from a cohesive approach. A well-written sales playbook not only streamlines the entire sales process, but it enables your team to more successfully handle a variety of sales situations, while simultaneously communicating a value proposition to each potential client.
Artificial intelligence and machine learning are two of the biggest buzzwords and trends within the sales sector. While these two
terms are often used interchangeably, they are in fact quite different. If sales associates want to maximize their efforts, then they
need to ensure that they understand the key differences between artificial intelligence and machine learning, especially as they
relate to big data and analytics.
What Is Artificial Intelligence (AI)?
AI is the umbrella term for the variety of processes (including learning and decision making) that help make computers both
faster and smarter. In fact, AI is an essential field within Computer Science. One of its integral components is big data. In order
to continue to process and analyze information at faster speeds and larger quantities, AI systems need to have access to
incredibly large fields of data.
One of the best components of AI is that it can be used across a wide variety of industries. For example, AI can scrutinize
student study patterns to create personalized tutoring suggestions. It has also been used within robotics, speech therapy,
transportation, medical, and marketing fields. For example, inbound marketing focuses on attracting customers via content that is
engaging, relevant, and helpful. It focuses on establishing connections, growing relationships, and helping customers travel
through the sales funnel in a way that is both "human" and decidedly personal. Not only that, but inbound marketing is about
delivering the right message to the right person at the right time and on the right communications platform.
So, where does AI fit in with inbound marketing?
AI provides the right data, intelligence, and tools, such as those offered by
HubSpot
, to deliver hyper-personalized content on a
large scale. Through AI sales associates and marketers can make decisions based on carefully analyzed data points In fact, it's
how Netflix, Pandora, Spotify, and Amazon are able to make the recommendations for what you should, watch, listen, or buy
next. These powerful insights are all thanks to AI
What Is Machine Learning?
Machine learning falls under AI. It is a specific process whereby knowledge is discovered, data points are gathered, and
algorithms are used. At its core the entire process follows these seven steps:
Gone are the days when Artificial Intelligence (AI) brought to mind scenes from Hollywood blockbuster classics Minority Report and I, Robot. Instead, AI technologies are rapidly changing the way that marketers and sales teams reach prospects, nurture leads, and inevitably close deals. Contrary to conspiracy beliefs, AI isn't meant to replace various sales positions with machines. Instead, when used properly, AI technologies can and will help sales teams achieve their desired results via the five following benefits.
Bob, the CEO, recently promoted sales Superstar Glenda to Sales Manager. Bob expected big things out of Glenda. After all, no
other sales person had opened the amount of business Glenda secured in the previous few years.
Unfortunately, Glenda fell short. The sales team didn't evolve well, some left, and others struggled with their sales goals.
Bob pulled at his hair, because he didn't understand why this happened.
But we do. Glenda wasn't an efficient
sales coach.
With time and effort, Glenda and those sales managers like her may be high-performing managers. It all depends on how they
themselves are nurtured and developed.
Glenda's manager (we're talking to you, Bob) needed to step in and deduce why Glenda wasn't performing up to par, and then
take action to fix it.
Here are some common issues the
Maven Sales Group
sees frequently with sales managers that aren't performing.
I have had a number of our tech prospects and clients talk to me about increasing their current sales. When I ask about what they have done so far in their attempt to grow the business, whether a technology services company or a SaaS company, I often hear they have hired new sales reps. Everyone knows the easiest way to increase sales is to add to your sales team! Right?
As sales professionals, we spend a great deal of time attempting to create value for our prospects. One of the main reasons for creating value is the desire to avoid getting commoditized by your prospects. As a Sales and Marketing Consulting firm that has been focused on the SaaS market, we see this commoditization trap capture our prospects and clients far too often. Therefore, since we've been asked about it so much, I decided to share my thoughts via a video... ENJOY!!!
This past week I was fortunate to be able to participate in the National Print Owners Association annual conference. We set up our booth and shared our newest service offering, Sales In A Box.
