Vorsight co-founder Steve Richard reveals the secrets to getting the most out of your lead generation reps.
In many companies, outbound prospecting reps reside at the bottom of the sales organization hierarchy. Sure, they play a critical role in prospect engagement and lead generation, but it’s sales reps who ultimately convert those prospects into real revenue, and that’s typically the argument for focusing more time and attention on coaching that role.
The problem with that approach, however, is that sales reps aren’t often the team members who could benefit most from coaching. Instead, suggests sales expert and Vorsight co-founder Steve Richard, it’s a company’s eager — and often more malleable — lead gen reps who typically reap the most from management mentorship.
Sales strategy consultant Michael Hanna shares the keys to designing and implementing a sales compensation plan that keeps your team focused and motivated.
How to Design a Sales Compensation Plan that’s Right for Your Team
Compensation plans are extremely powerful tools for influencing sales results — but only when done right. If done incorrectly, they can back-fire and even demotivate and distract your sales team.
In this webinar, OpenView’s Devon McDonald and CeCe Bazar are joined by sales strategy consultant Michael Hanna to tackle the frequently-asked question, “How do I design an effective compensation package for my sales team?”
As your revenue begins to increase, understanding how to reduce churn becomes essential to your business.
Having an in depth knowledge of how to retain your customers, and executing an effective strategy based off that knowledge, pays huge dividends for your business. You don’t have to worry about replacing those bookings, they’re available for upselling (which is generally the largest portion of your revenue) and as advocates they drive new business. Due to those reasons and more, entrepreneur, investor, and SaaS expert David Skok explains how to reduce churn in this post at For Entrepreneurs.
You don’t have a prayer of gauging your lead generation team’s true progress if you don’t know which metrics to track. The good news? There’s absolutely no reason to make things complicated.
When you think about it, a lead generation team practically operates on a tally system. Make a call, make a tally. Create a connection, make a tally. Schedule an appointment, make a tally. When it comes to effectively tracking your lead generation efforts, the important thing, says ExactTarget’s Christy Weymouth, is to make the right tallies and have strong — if ambitious — goals for your team.
In a perfect world, your sales coaching advice would always fall on open ears. The reality, advises Steve Richard of Vorsight, is that there is really one key group you should be focusing the bulk of your efforts and energy on.
While it’s important to offer sales coaching advice to your whole department, the fact of the matter is some segments of your team won’t be responsive to it, while only a fraction will take it to heart and flourish. These are distinct groups, explains Steve Richard, co-founder of Vorsight, and if you want to see a bigger return on your investment you need to be strategic with where you devote your time.
Hands up if your sales reps send “Just checking in…” emails to prospects. Are your prospects actually responding, or are they glossing over them out of sheer boredom?
Best practice dictates that your reps should be reaching out to prospects regularly. However, is that contact filled with content that engage, challenge, and educate buyers? Are the messages sent ultimately moving prospects through the buyer journey to a successful close?
It’s no secret that January is prime time for staff overturn, but that doesn’t make it easier to stomach. Let these sales rep retention tactics soften the blow.
In boxing, it’s not typically the breathtaking blows to the head that take out a prizefighter, but the under-the-radar body punches that do them in. The same can be said about your sales staff. The exodus of some of your top A-players will have the office abuzz, but the reason you’ll often be behind your quota before the year even starts is because you’ve got new, aggressive quotas to meet at the same time. In this post at Sales Benchmark Index, Drew Zarges has some sales rep retention tactics to help you weather the storm.
Whether you’re a first-time manager or a savvy vet, what is the very first thing you should do when it’s time to dive in and start managing a lead generation team?
Your outbound lead generation team is just like a light, right? Just flip the switch once the team is built and it automatically starts doing its thing? Well, not exactly. In fact, according to Christy Weymouth, who launched ExactTarget’s team in 2005, actively managing a lead generation team properly right out of the gate is a critical part of its success.