There are two types of accounts, regular and strategic. Both are important and need to be given the time and resources to be successful but strategic accounts has a larger impact on the company and will get some extra attention. The important thing to remember and be disciplined about is that NOT every account is a strategic account. The most important consideration for what makes a strategic account is whether the account you are working with desires a lasting win-win relationship with your company.

Choosing a strategic account

Accounts that are identified to become strategic for the company must be working for a common goal that will bring growth to both organizations. You need to think of choosing these accounts as a business initiative versus a sales initiative.  If both companies aren’t committed to the partnership then you shouldn’t move forward.

Things you should put in place for a strategic account.

• A cross functional team for communication
• Full executive endorsement
• A clear measurement of growth and success.

Working with Strategic accounts

When you have identified a strategic account, the real work starts. Working with and managing the process of gaining a strategic account takes time and resources that you may not be familiar with. Because this account will have a long tem impact on your company, special attention needs to be paid to the process to insure everything falls into place as needed.

• Account specific value proposition
• Find out where each company sees the business relationship today, one year and five years out.
• Create a joint action plan that holds both companies accountable for success
• Roadmaps and future plans must be shared

Both companies should have separate sets of metrics, one that can be communicated with internally and one that will be shared in conjunction with the strategic account.

Internal measurements

• Revenue
• ROI of the project
• Margins achieved

Joint metrics

• ROI from joint investments
• Completed goals in the action plan
• effectiveness of the communication channels

If the strategic account falls apart then it’s safe to say that it wasn’t the right company for your business to be working with. If either of you are not achieving mutually beneficial goals then the relationship needs to be re-evaluated, fixed or disolved. This will happen as you work with more strategic accounts but should be minimized as much and as often as possible. Every strategic account that falls apart should be systematically analyzed to see the causes and understand what and more importantly when these red flags could have been identified to make the needed adjustments in the future.

How a few shifts in your sales process can have a huge impact on sales revenue.

I read a great article on Inc. yesterday on 12 ways to increase sales. The author Geoffrey James pointed out some of the most important things a salesperson or sales manager should do to increase sales in 2012. He hit the nail on the head when it comes to why these 12 ways to increase sales revenue will work, I want to tell you how to do it in 8.

1. Reduce the number of opportunities you pursue. It’s not a numbers game. By focusing your sales energy on fewer opportunities that have a higher chance of closing, you can give these customers more of your time to move the deal along. Leveraging traditional sales drivers and trigger events you are aware of, you will know which prospects have a much higher percentage of closing.

2. Increase the percentage of time you spend selling. There will always be admin work. As a salesperson you may not have the ability to hand your busy work off to others but there are ways that you can still increase your time selling. Most sales people on average spend 10hrs a week researching prospects. By leveraging technology and sales intelligence you can cut that amount of time in half and free up some of that precious time to be talking to prospects and customers and sell more.

3. Stop buying technology because it’s cool.

Stop spending your money on the next shiny object. Invest in technology that is actually going to help you sell. Focus on tools that will provide you

• Trigger events that effect your prospects and customers
• Valuable connections through multiple social networks and existing business relationships
• More personal insights that turn your CRM contacts into people you can relate to and add context around
• Highly targeted and intelligent prospect lists

4. Terminate weak engagements–politely but immediately.

Just as your company should have a solid lead qualification process to identify new opportunities you should spend the time to disqualify deals. A sales team should know what their ideal customer looks like and focus their energy on them. If a prospect doesn’t fit the mold, quit trying to force them into it.

5. Hone your lead generation effort.

Sales people need to understand the art of lead generation is shifting to an online world. Stop waiting for your phone to ring and look for the people you can help in real time. Social networks are a goldmine for the socially savvy sales rep. If you know what you are looking for, finding new opportunities with social media isn’t difficult. For example our sales team found this update on Twitter and jumped in.

What’s a good company database alternative to Hoovers? They don’t seem to want to sell me anything.

— Ross Mayfield (@Ross) January 10, 2012

These types of updates are something your sales team needs to be on the look out for. After 24 hours, Hoovers still has not replied to Ross’s update on Twitter. Listening is key. Leveraging connections and personal insights our sales team was able to connect and help Ross with his business needs.

6. Don’t focus on the gatekeepers.

Understand who the real decision makers are. Get to know them as people instead of the contact that makes decisions at XYZ company. Stay engaged with them during the sales cycle by engaging with them outside of the actual sale. Connect with prospects on social networks and try and help them with other questions they may have and add valuable insights on their industry.

7. Stay on top of your opportunities.

Build a watchlist on your opportunities so you can be fed news and other alerts to things that are changing within their company. Leveraging technology to keep your finger on the pulse of your opportunities will insure that nothing slips by you and you can even stay a step ahead during the sales process.

8. Outflank your competition.

I say it during my speaking engagements: Be different, Be better. Your prospects are getting 100+ emails a day and called as many times a week. This tactic may work some of the time but don’t do what your competitors are doing. Stand apart from them by leveraging your connections to get the introduction, connect with the decision makers on social networks to have more engaged conversations in a medium that they are already spending time in.

It works!

It’s a new year and you have new sales goals but you can’t dismiss the facts gathered from 2011. 92% of executives you try to contact will not return your phone call. You should already know why, unless you have an amazing reason for them to listen to your message, they will delete it in the first 5 seconds. If you don’t give them a compelling reason to spend the time to call you back then you get forgotten about.

When calling on a prospect for the first time there are some simple steps you should take to make sure they return your call.

Leveraging existing connections

When doing your 2012 prospecting, make sure you focus on people you are connected to. Your customers (if they are happy) should be willing to make introductions or serve as references to other companies that you are trying to engage with. 84% of the people you try to connect with leveraging an existing connection will respond. If there is ever a more compelling reason to stop dialing for dollars, this would be it!

A Little Research Goes a Long Way

Do your homework on the person you are calling before you pick up the phone. Stop treating the names in your CRM as contacts and start thinking about them as people. If you dont have a prospect watchlist created for your prospects, do some research on them through social media. Are they active on networks like LinkedIn or Twitter? What are they saying. I’m sure there are some good pieces of information you can gather that will give you better personal insights on them.

Warm up every cold call.

Before calling, connect with the prospect on social media or by sending them the tried and true email. Send a short, personal letter saying something like, ‘I’d like to introduce myself. I’ve noticed your company has been actively growing the size of your widget factory and I’d like t know if I can help with anything’. Make sure you enclose something of value and indicating that you’ll be calling in a few days to gauge interest. Then, promptly follow up.

Build a conversation about the prospect first.

Building from that last two, you should know about your prospect as a persona and know about their specific business needs. Using the trigger events you monitor around their company and industry coupled with what you have gathered about the individual, structure your first conversation all around them. I’m not saying to avoid a sales pitch but make sure your pitch is completely focused to them and their company. Talk about what you have discovered and see if there is anything you are missing. Highlight how your product has helped companies like theirs recently and see if they are in a position to look at it in more detail and find additional value.

Closing out the year we wanted to look over the content that you have found most interesting and shared most often. 2011 was a big year for sales intelligence and the use of technology by sales teams to be more effective in finding new opportunities and closing more deals.

This is the list of the top 25 sales intelligence posts that people read during 2011

1. 25 Influential Leaders In Sales
2. How Science is Changing Sales As We Know It
3. Why Cold Calling is the Bottom of the Barrel
4. 40 Social Media B2B Infographics
5. Gamification of the Sales Process
6. 10 Reasons You Need a LinkedIn Profile
7. 15 Posts on Why Cold Calling Is On Its Way Out the Door
8. The History of Apple CEOs
9. Bridging the Massive Social Media Gap Between Sales and Marketing
10. Have No Fear: Why Sales Teams SHOULD Be On Social Media
11. Creating a Sales Plan and Executing It.
12. 10 of the Best Sales Sites
13. The Death of Cold Calling – Ending the Debate
14. 10 SlideShare Presentations That Will Make You a Better Salesperson
15. Why Social Media is Important to the Sales Process.
16. Top 10 Reasons for using Facebook for your Business
17. 20 Awesome Sales Posts You Should Read
18. 5 Great SlideShare Presentations on B2B Selling
19. The Social Media Landscape – Facts and Figures for B2B Sales (Infographic)
20. Should Sales People Be Blogging?
21. The Problem with Big Data
22. The Future of Social CRM
23.  Do You Listen to Your Customers?
24. 10 tips for Driving Sales Productivity: Tip #1 
25. A Dip Into Sales Data vs. Sales Intelligence

• Miles Austin
• Marge Bieler
• Dave Brock
• Barbara Giamanco
• Matt Heinz
• Carlos Hidalgo
• S. Anthony Iannarino
• Craig Rosenberg (AKA The Funnelholic)

Sales Intelligence drives revenue.

“Based on the 12 ways sales people leverage the internet it is clear that B2B sales teams spend a lot of time researching prospects and customers on the web and social networks. It’s no longer an issue of not having any information ahead of time, the issue is that there is an overwhelming amount of personal insights available. Sifting through it to find the relevant information you can act on today appears to be the challenge at hand. Sales intelligence drives revenue by feeding sales people trigger events and insights within a company or contact.” (Koka Sexton)

Make the most of a B2B Social Networks more advanced features and functionalities.

“On the B2B side of the house, LinkedIn is the networking tool in the US with some 130 million members of the 100 million-plus community. Many people know how to invite people to their network, but they usually do not know what to do after that.”

Here are a few of the ways that savvy B2B salespeople will leverage B2B social networks:

• Advanced people search: Create prospecting lists based on the criteria of your ideal buyers. Save the list, and LinkedIn dynamically updates and alerts you weekly to the new people matching your criteria who have joined the network. Each week, you can then plan your strategy with respect to how you’ll approach the initial interaction.
• Applications: Use the applications to add video, compelling presentations, white papers and case studies or sync your blog posts to your profile. Keep your content fresh and people pay attention. In the past eight weeks, I’ve secured four paid gigs and in every single case, I was told it was because my profile stood out from the rest and because they liked the video. It is all about engaging people and enticing them to want to know more.
• Polls: Create a poll to gather real-time trending information that you can share with your prospective buyers.
• Status updates: Ongoing status updates that are ‘relevant’ and provide value to others keep salespeople visible; because at the end of the day, it is all about visibility.
• Groups: Leveraging groups (the right groups!) gives you an incredible opportunity to demonstrate credibility, but not selling!
• Use the Answers section to listen and respond to the questions that people are asking. Every single day people ask what products to buy and from whom.
• Events: Hosting an educational session for potential clients? Use the events functionality and use it to share with your network.” (Giamanco)

Monitor prospect discussion and social data for buying signals.

“Prospect research has changed forever. In no other time in my life have we seen prospects update their own information and update you on what they are doing in their personal and professional lives! Today’s modern social salesperson is exceptionally prepared for their sales calls. One tip: Company data is interesting (e.g., … [alerts] about your sales prospect’s company: ‘New product launch!’), but prospect social data is even more interesting, because it will tell you what the person really cares about (‘Just got back from sales training in Florida, learned a ton!’).” (Rosenberg)

“Leveraging twitter for sales is very effective. Once you know how to use Twitter as a sales tool, you can get insights into people and companies in realtime.” (Sexton)

“Watch for buying signals across the social Web. One of the greatest opportunities for salespeople via social media is to see into the buying cycle far earlier than we’ve typically had access to. Before social media, we could deepen our understanding of the buyer and use outbound marketing to connect with a particular need, try and find resonance with a buying signal, etc. But that, at best, was a fishing expedition most of the time. Now, if you know the buying signals and pain/problem keywords your prospects typically exhibit before they’re ready to buy, you can watch for those discussions and keywords across the social Web. Do a couple keyword searches on Twitter, for example, and you’ll be surprised how many people, in real-time, are talking about their existing challenges, their frustrations with competitive products and more.” (Heinz)

“Social media is a great tool for salespeople, but for not for the reasons that some people believe. Social media isn’t a replacement for the prospecting activities that success in sales requires, as some seem to suggest. It is a simply a set of tools that allow the execution of some of those activities. There is way too much focus on using social media tools for inbound marketing, and way too little on leveraging the tools to better enable the execution of the fundamental roles of salespeople: opening new opportunities. Opening new opportunities isn’t a passive activity, and salespeople who wait for their prospects to find them aren’t successful by any of the measures we use in sales. The salespeople who are successfully using social media are using the tools to identify and open communication with their dream client contacts. They are using tools like LinkedIn to identify the people who they can most easily create value for within their target accounts. More still, they are researching their prospects, discovering what they are reading, what they are writing about, and where their interests lie. Social media better enables salespeople to know who to call and how they might best create value for those people.” (Iannarino)

The best way to increase sales effectiveness is to speed up the research process and then get regular updates on your prospects and the companies they work for. In an article, Forbes spoke with some leaders in sales and got insights on the sales process and what steps sales managers should take to increase their effectiveness on finding more deals and closing them faster.

The overwhelming observations and advice from Wendy Weiss and Paul Castain pointed to finding the right prospects, being more prepared for the call, having intelligence around the prospects, and leveraging non-traditional communications channels to reach prospects.

Paul Castain,Vice President of Jedi Mastery at Castain Training Systems, says a lot of salespeople research a prospect only once during the process. “Business is moving at the speed of light, and things change constantly,” he says. “When you gather information, review it over and over again before you reach out to the client.”

Finding the right prospects to contact shouldn’t be a painful process. Sales intelligence can give you a fresh group of prospects based on sales trigger events in the industry specifically in your territory. These trigger events give you accurate and relevant news about the company or person you are calling. Since we know that most executives will not respond to a cold call, using connections to get introduced is important. If you can’t locate a professional connection to your prospect, use the intelligence you gather through news sources and social media to understand your prospect and make the connection.

Top sales tips to follow

• Approach them before they are in buying mode
• Focus on finding the best prospects
• Stop calling prospects if they are not responsive. Get creative in communications
• Sales people are expected to know about their prospects before the call
• Only talk 20% of the time and listen the other 80%
• Don’t be afraid to ask the tough questions
• Turn rejection into a learning experience
• Never stop learning how to be more effective

Surprisingly there are still a large number of companies that do not leverage sales intelligence. The Aberdeen study on the Science of Sales Intelligence shows that most companies deal with some very specific business pressures that sales intelligence can help with.

• 42% have insufficient knowledge of the business needs of prospects
• 40% do not have the ability to identify the most likely buyers of their product
• 34% complain of having a sales process that is too long
• 21% See an increased customer churn forcing them to focus on filling the funnel

All of these point to companies needing to be more nimble and enabling their sales teams to move faster with more targeted information. What are you going to different in 2012 to address these business issues?

The traditional approach to demand generation focuses primarily on outbound offers and campaigns to drive new leads into the funnel. However, the shift in buyer behavior forces companies to rethink their approach to demand generation. Social media stands out as a new source of customer engagement because it provides sales and marketing organizations with a tremendous opportunity to follow potential customers – even before they reach out to them.

Because the buyer relies more on peers and independent research in the early stages of engagement, it has become even more imperative that B2B firms bring sales and marketing together with a shared approach to revenue generation. Social intelligence has proven to be a key piece of this aligned approach as it enables deeper, more relevant engagement.

According to B2B’s “2010 Outlook: Marketing Priorities and Plans” survey, more than half (53.5%) of marketers surveyed said they currently use social media as part of their marketing strategy, up from 45% the prior year. Lead generation (cited by 48.9% of respondents) ranked as the second highest use for social media, behind only thought leadership (59.8%).

In one case study illustrating how progressive companies are integrating social media into their demand generation efforts, Concur Technologies has successfully integrated social intelligence across sales and marketing, influencing performance at each phase of the funnel.

Because the buyer relies more on peers and independent research in the early stages of engagement, it has become even more imperative that B2B firms bring sales and marketing together with a shared approach to revenue generation.

In the early stages of lead generation, Concur has utilized the list-building capabilities enabled by sales intelligence platforms to better target the SMB market. The company also improved conversions within the funnel by using social intelligence to address lead pre-qualification for inside sales. Finally, reps are able to receive alerts notifying them on trigger events at key accounts.

Despite the dramatic impact social media and social intelligence can have on demand generation, many companies do not integrate social media into their existing processes. During a recent presentation at the 2011 SiriusDecisions Summit, Jonathan Block, VP and Service Director for Reputation Management Strategies at SiriusDecisions, proclaimed, “Organizations ignore the leverage social media can offer throughout the cold-to- close process.”

Block emphasized the important factors that go into a successful social media strategy. He pointed out holistic measurement and reporting are key aspects of building an integrated social strategy. By effectively measuring both activity and impact, companies realize positive paybacks in brand reputation, demand creation and sales enablement.

It’s not only sales managers that are interested in increasing sales productivity. Every sales rep that is serious about their career tries to be more productive and effective in their sales efforts. One of the best ways to learn to be more productive as a sales person is to learn what is working and what is not by other experts.

Sure, we have a bunch of posts on how to be a more productive sales person but there is always more tips and tricks that come from other well known people that should be shared.

1. How Entrepreneurs Can Increase Productivity by 500% -TechCrunch
2. Top 5 Sales Strategies for 2012. Accelerate Your Momentum with Microsoft Dynamics CRM 2011
3. The Three Types of Team Commitment
4. What’s Driving Your Customers Away?
5. 8 Ways to Incentivize Employees to Use CRM
6. Negative Assumptions Before Your Calls Usually Come True
7. What’s Your Plan Once You’ve Connected Via A Social Network?
8. The 10 Biggest Referral Mistakes Salespeople Make
9. Anatomy Of A Lousy Sales Email
10. One Marketing Guy Who Gets It (What Sales Needs, That Is)
11. Why Sales Forecasts Are a Joke
12. The Presentation Trap: Why Making Presentations Can Cost You the Sale
13. 10 Tips that Separate the Good Sellers from the Great Ones
14. Ignite More Sales with Sales Intelligence
15. Determining What Metrics to Track with CRM

On average sales reps will spend 24.1% of their time each week on research and lead generation activities. It’s no wonder why sales people go to the internet for help when almost 10 hours a week is spent researching contacts and companies.

The important task of sales research.

The study found that sales research is still the most important activity of how sales people leverage the internet. This is a positive sign in the case that sales people are now at a tipping point when it comes to understanding that it’s more important to sell to people and not contacts. 77.2% of the sales people must be onto something that makes them better at selling.

Now look at the number of people leveraging the internet to actually move people through a sales cycle.

• 56% conduct webinars
• 48% of their time is in web based meetings
• 46% are giving online demos

Sales leaders should be looking for ways to increase these numbers. The best way to do this is to help your sales team on how to be more effective in sales research and decrease the amount of time they spend in that area.

Two flavors of internet research

Companies fall into one of two buckets when it comes to enabling sales people with sales intelligence. Companies either empower their sales people with technology to aid in this effort or they expect a sales person to do all of this on their own. You can imagine what will have a better impact on a sales teams ability to generate more opportunities and increase revenue. The best in class companies which made up 61% of the businesses surveyed leveraged technology to conduct searches for sales reps while 37% left the work up to the individual sales rep.

Spending 10 hours a week on research obviously takes a toll on winning more deals. Though research is important, companies should be looking at ways to increase the amount of time sales people are actually selling.

Ignite Smarter Conversations
Once a contact becomes a qualified lead or opportunity, sales needs to know who to reach and how, and what to say to get their attention. It’s no longer just who you know that will make business deals happen, but what you know about who you know, tightly synched with when and where you should know it. After all, according to IDC, IT buyers indicate that ~54% of sales reps are unprepared for their initial customer meetings.

To prep for the meeting, your reps can tap into sales intelligence to pinpoint what’s top of mind for the contact and immediately establish rapport on the call. With access to multiple data sources in a single place, your sales reps will spend less time on research, yet will be more effective on the phone.

A study by CSO Insights shows that even when using CRM:

• It takes sales reps an average of 4 voice mails or emails to get that first, pivotal appointment with a prospect
• They often have to wait 3 to 4 days for a response
• 60% of sales reps waste the equivalent of 6 selling weeks a year just trying to get customers on the phone.

Combined, traditional business information services and social media can help create the best prospect intelligence, enabling sales professionals to sort through potential deals and dealmakers. With insight into companies (for example, M&A activity, new leadership, and major initiatives), contacts (title, email, and phone number), and social profile information or people insights (“I see we have friends in common,” or “We went to the same school,” or “You recently tweeted about X”), your sales reps can start the conversation off right.

The sales reps that take advantage of the intelligence to be found in the online conversation are reaping the rewards. In a study of sales reps within 2,000 companies, the reps that turned to sales intelligence ended up with higher win rates.

How ‘smart’ are the conversations you have with prospects?

To be an effective sales person, it’s best to know how connections you have can get you into new accounts. Instead of relying on more data and names of contacts to call, leveraging intelligence in your sales process can build your pipeline faster. We are expanding further on our lead of people insights of selling to people not contacts. Connection based prospecting is a enhanced way of identifying prospects that you have direct connections to through co-workers, past employers or reference accounts.

Leverage your existing connections for accelerated pipeline growth.

Having connections into a prospect company makes getting in contact with a decision maker much easier. If you foster your professional connections correctly, your network should be happy to introduce you to someone within their company and make a warm introduction. Maybe you are looking for new accounts to contact and you find out that 4 of your coworkers and 2 people you worked with in the past have direct connections to people in a large account you’d like to talk to. That would make getting a warm introduction easier than trying to figure out how to cold-calling into a prospect.

Instead of blindly targeting companies based on contact data focus on getting new customers based on the number of connections you have into the company. People you work with, reference accounts and past coworkers will add a layer of trust to your communication with a decision maker. Leverage those connections to get an opportunity.

We have several new enhancements in our application this month. You can see more about all of them in the InsideView Community.

Too many sales managers are trying to build their business by using methods that have been outdated for a decade. Imagine going to a doctor that is still practicing medical advice from 1990? Sure they can give some insights and may even be able to help you with whatever is troubling you but their ability to make an impact on your health is determined on old information. Wouldn’t you rather have a doctor that is up to speed on the latest medicines, research and technology? (You don’t have to answer that.)

Understanding the science of sales and how sales intelligence can have an impact on decision makers is a major competitive advantage.

Science of Selling

There was an interesting experiment by the Universite de Bretagne-Sud in France that says people buy more from you when you act like them. By mimicking customer behavior, 78.8% of the customers ended up buying the product. Without mimicking customer behavior, buyers only made a purchase 61.8% of the time. Along with increased likelihood of buying, mimicked customers were more complimentary of the salesperson and the business.

The study abstract states: “An experiment was carried out in a retail setting where four sales clerks were instructed to mimic, or not, some of the verbal expressions and nonverbal behavior of the customers. On their way out, these customers were asked to evaluate the sales clerks and the store. Results showed that mimicry was associated with a higher sales rate, greater compliance to the sales clerk’s suggestion during the selling process and more positive evaluations of both the sales clerks and the store.”

Another study was performed on Duke University undergrads where participants were told that its purpose concerned the impression formation, process and marketing of unfamiliar products. The study was set up to see if a decision maker would/could be influenced to make a purchase based on on a sales person mimicking customer behavior when the decision maker is aware that they are dealing with a salesperson. Turns out the decision maker was over twice as likely to buy when mimicking was employed.

One might have expected that a person who is aware that a salesperson is trying to affect their behavior may try to guard against this influence, thereby being less likely to respond positively toward the product promoted by the salesperson. Instead, the mimicry led to more engagement when the salesperson was highly invested. Thus, in this case there was in fact an observed disassociation between the conscious desire to guard against persuasion and the nonconscious tendency to be engaged.

It’s a common understanding in business that people buy from people and not companies. Having a complete picture of your prospect and understanding how to sell to people and not contacts gives a sales person an definitive advantage.

Neuroscience and buying decisions

Inc.com had an article explaining that companies are starting to look at brain activity during sales presentations see whether or not prospects are being convinced. This technology exists now and is being marketed by a company named Affectiva that is run by David Berman, who was president of sales and service at Webex.

neuroscience is now proving what many sales professionals have long suspected: that decision-making, even among top executives, takes place mostly at a “gut” level.

Measuring emotional arousal via skin conductance that grows higher during states such as excitement, attention, or anxiety and lower during states such as boredom or relaxation can be a game changer for companies trying to get even deeper sales effectiveness during negotiations and sales discovery.

How scientific is your sales process?

Do you really know your customers? All of the research points to the massive effectiveness of sales intelligence. Knowing more about your prospects can make a dramatic impact on your revenue. Aberdeen’s paper on the science of sales intelligence shows even further that companies that invest in knowing more about their prospects reap larger rewards when it comes to building a fatter pipeline and closing more deals.

We are seeing more companies investing in things like adding game mechanics to sales teams to drive performance and that dovetails into ways to be more engaging with prospects with the same mechanics. Customers have evolved, has your sales process evolved in a way that mimics them?

What is a sales objection meeting?

At any point of a sales cycle a prospect may have an objection or a series of objections as to why they can’t or won’t be interested in your product. These can range from things like price, or concerns about what you are offering. Most good sales teams will have a list of common objections and how to address them. Having these increases sales productivity. Every product or service has to know how they are positioned against these objections. In some cases the fact is that certain objections are enough to walk away from the deal. The goal is to have a win-win and though you can handle objections some are more about you as a sales person than what is in your customers best interests. A great company goes one step further and holds a regular meeting to go over these.

How often do you have it.

Holding an objection meeting once a month seems to be best. Either make it a part of your regular sales meeting or have a special meeting specifically to cover these important issues. Since the end of the month is typically hectic for sales people and this is when the objections seem to be the highest, having an objection meeting during this time is counter productive. Keep your sales people selling and have your objection meetings at the beginning of the month. This is a perfect opportunity to go over last month’s deals and get the sales team ready for the next month of selling. Having a sales objection meeting in the begining of the month also help a sales team be better at lead generation and lead qualification.

Why do you have it

Getting the entire sales team together to discuss typical objections being given helps on a few levels. First, identifying new objections helps the sales team collectively work through them. The sales manager can reinforce them across the entire sales team at once instead of on a one-off basis. Second, even your seasoned sales people can learn what objections are being raised in other territories and how the other sales people are addressing them. In many cases your seasoned sales people will be able to help the more junior sales people with ways to work with prospects through these obstacles. Third, building a list of common objections and making sure all of your sales people are on the same page keeps a very consistent message across the company.

Handling and overcoming objections constructively is a critical part of the sales process.

You can prepare yourself for objections or queries before the meeting by:

• researching the client with sales intelligence – they may have particular issues to deal with
• writing down a list of possible objections and deciding on your answers
• covering the objections in your presentation

Listening carefully earlier on in the sales meeting will also help you to prepare for questions later on. Try to establish the real reason behind objections – prospects often use them to stall for time or if they are nervous about making a decision.

Make sure you are:

• clarifying what they are unsure of by repeating it back to them
• asking them if they will be prepared to sign the order if you can show a way to overcome the objection
• setting out how you can resolve the issue
• modifying their expectations to a sensible compromise if you can’t fully resolve the issue

Does your company have sales objection meetings? What else should be covered in them?

1. Selling Successfully in a Down Economy – Selling Power Blog
2. Four Keys to a Great 4th Quarter – Salesopedia
3. What I Learned From Steve Jobs – How to Change the World
4. Deal Stalled? There Is Always More Than One Way. – The Sales Blog
5. Video: The Biggest Mistakes Sellers Make - Selling to Big Companies
6. Who is Killing Your Sales Motivation? – The Sales Hunter
7. Tips for Finishing the Year Strongly – Jonathan Farrington’s Blog
8. Chasing Your Passion! - Sales Playbook
9. Sales Presentations the Don’t Suck [share this with your team] – Inside Sales Experts
10. Are Top Salespeople Born or Made? - Heavy Hitters Sales Blog

Let’s face it, making contact with C-level executives and other decision makers is not an easy task. 92% of C-level executives NEVER respond to email blasts or cold-calls. According to the 2011 Sales Performance Optimization Survey from CSO Insights, the average sales professional spends 25% of the workday researching potential prospects. Yet after hours of scouring the web, you still don’t know who the right buyer is and what technologies they use.

In this interview 1to1 Media‘s Tom Hoffman speaks with Ralf VonSosen, Vice President, Marketing at InsideView, about the steps that decision-makers can take to collect and act on intelligence about B2B customers.

Spray and pray tactics don’t work.

Contact data is not enough. A phone book is not an efficient tool to go after new prospects. Traditional methodologies of cold calling is dead, without context around your contact and having relevant information on your prospect you are not going to get their attention. Building a story around your product and how that can help a specific prospect can’t be achieved by dialing for dollars. That sales process just doesn’t scale any longer.

The average sales professional spends 25% of the workday researching potential prospects

Gathering personal insights

Once your sales teams learn to leverage sales intelligence applications and cut down their research times they can become more effective selling machines. Most sales professionals do not have the opportunity to go into a prospects office and look at the photos on their desk, understand their pains and get the complete view of their situations.

Contact data can’t provide this but through other technologies all sales people have the ability to get into the customers brain and see what they are dealing within the industry, corporate initiatives and even their personal lives. Traditional news and social profiles open up a world of possibilities to both customers and sales reps to make sure that communications are timely, relevant and welcomed. We are now dealing with the social enterprise where companies and the employees are actively engaged with social networks, sales teams that can adjust to this trend will reap all the rewards while companies that lag behind will be left wondering “Where did all my customers go?“

“Using competitive intelligence to sell more effectively is not a universal practice, but the Best-in-Class include it in their solution mix 36% more frequently than Industry Average companies, and 51% more than laggards”

If traditional sales and marketing methods no longer work, what do prospects respond to? How can sales and marketing reach, connect and engage with prospects effectively in today’s world?

The secrets to successful B2B sales and marketing are simple: Right Person. Right Time. Right Message.

Right Person: The first task is to identify the right person, find relevant information about them and connect with them through someone they know and respect. 84 percent of prospects usually respond to a sales rep when recommended by someone inside the company. Rather than calling a phone number from a list, identify an individual at the right level within the organization. This person should hold a position that gives them the authority to make a decision and makes them likely to have a need for the product or service. Be aware of the prospect’s work profile and recent tweets to easily establish a rapport, and know which colleague or reference customer can provide a warm introduction to the prospect.

Right Time: Know when to call a prospect. Picking up the phone right after a company secures funding, when a new executive has come on board, or when a new regulatory requirement comes into effect matters. Calling the prospect even days or weeks before a competitor does can be the difference between winning and losing a deal.

Right Message: Prospects take it in their own hands to go online to learn about vendor solutions, and they are often aware of the key features and big differences. As a result, they value reps that are more customer-focused and who can articulate how they can address the prospect’s unique business needs. The nuanced message should be about how to help a prospect be successful rather than what a product does.

A recent paper by Aberdeen titled “Understanding the Science of  Sales Intelligence” identified the key areas that companies and sales teams should be focusing on for results.

• Executives/ People Information
• Targeted company details; Financials; Competitors
• Contextually relevant news
• Analyst data on tends
• User generated content (blogs, social media)

by Éole

Often times salespeople fall into a rhythm where sales seem to come their way with nearly every call they make or potential client that comes their way. It’s a phenomenal feeling, however like the great game of baseball, slumps come and go along with these hot streaks as well. Don’t be discouraged though, like the great Yogi Berra once said: “Slump? I ain’t in no slump. I just ain’t hittin’.” If you’re one of those people just not quite hittin’ right now, maybe it’s time you start switching up some techniques and fall back into a smooth rhythm. Here are 20 posts you should read from some of the best-known experts in sales.

1. How to Shorten Your Customers Buying Cycle! – Robert J. Weese
2. How to Bypass the Gatekeeper - Joanne Black; No More Cold Calling 
3. How to Write a Sales Territory Plan – Ron Snyder; Selling Power Blog
4. Training for Sales Enablement Success –  Anneke Seley
5. 9 Strategies for Selling Smarter – Geoffrey James; Sales Machine
6. Celebrity Lessons in Selling – Inc.com
7. Our Favorite Apps for the Mobile Sales Force – Lauren Carlson
8. Ever Wondered About the Secrets to Prospecting Success? – Jill Konrath
9. Want better sales performance? It’s about time. – John Cousineau; Amacus
10. A Method to Consistently Achieve the Most Difficult Sales Goals – Jon Gilge
11. Sales Tips for Your Website – David Leonhart
12. Sales Tip: The Social Graph is Your Friend - Nigel Edelshain; Sales 2.0
13. What Makes a Good Salesperson? Answering the Impossible Question
14. A Powerful Sales Technique Courtesy of Honest Abe – Jeff Beals; Salesopedia  
15. Preparing for Sales Success [Video] – Tibor Shanto; Sell Better Blog
16. Six Reasons Why Sales Managers Fail – Gil Cargil; Eyes on Sales
17. Distinguishing The Characteristics of the Most Successful Salespeople
18. Deciding: The Salesperson’s Very First Step in Selling – Skip Anderson
19. The Two Most Powerful Words in Sales - Lee Salz; Sales Journal 
20. What Should I say When the Customer Calls And He’s Mad As Hell? – Jeffrey Gitomer

What is Gamification?

One of the trending topics in business is gamification. If you are not familiar with the term, in short, gamification is the application of game mechanics to non-game experiences that can drive an audience to a desired behavior.The size of the audience available through gaming is enormous and rivals television as a medium.

According to Forrester, gamers span just about every demographic.

• 65% of Xbox gamers are male
• 59% of “social gamers” (like Farmville…) are women
• 23% of the “social gamers” are Boomers between 45 and 65 years old.

In general gamers are also more motivated to have ‘connections’ with people than non-gamers. In the world of sales, connections and engagement is key to driving pipeline growth and creating new opportunities.

A few definitions of gamification:

• A game is structured play, usually for fun.
• Gameplay is interaction inside of a game.
• Game Mechanics are constructs or tactics commonly used in games to encourage gameplay. These are things like badges, points, leader boards, levels, challenges, achievements and virtual sheep you can put on your virtual farm.
• Game Dynamics are strategies commonly used in game design based on psychological motivations. These include things like “Appointments,” in which someone does something to gain a reward, “Avoidance,” in which someone does something to avoid a punishment, or the “Free Lunch” dynamic, in which people feel they are getting something because of their behavior.
• Currencies are ways to give people incentives based on various motivations in a digital world: the need for financial reward, the need to do good, the need to help one’s community, the need for recognition and influence, the need for pleasure. We can assign currencies to each one of these motivations to reward people for desired behaviors.

Gamification for Sales

Turning the sales process into a game is not a stretch of the imagination for companies. In may ways companies with B2B sales people have already added game mechanics into the process on a small scale. Glenngary Glen Ross has an amazing scene in the beginning of the movie where Alec Baldwin is addressing the sales team where is explains First Prize is a Cadillac and Second Prize is a set of steak knives. This is how most businesses gamify sales to date.

• Commission checks
• Presidents Club
• Spiffs

These are all typically based around revenue for a company and these game mechanics drive the behavior of the sales team to sell more. This is where most companies end the game process but that is about to change.

Companies like Xactly have developed an application that drives compensation management , most typically marketed to businesses that have become buried in spreadsheets trying to track sales teams and their commissions. That’s a big enough problem to tackle for companies but their application has some functionality that brings gamification to the sales teams directly. At a recent event I heard Xactly discuss how their customers base compensation and commissions on a series of behaviors that lean more ‘reward’ to the sales person if they do things such as close a deal early in the month or if they sales can close a deal within a specific time frame.

This opens up a lot doors into how companies could introduce game mechanics for sales even extending beyond revenue events.

Game On for B2B Sales

Research shows that financial rewards for gamers is only one incentive and not even the primary factor that people play games. We saw this internally at InsideView when we wanted to drive social media adoption by the company. The only game mechanic we had to put in place was a monthly email that highlighted to most active employees on Twitter. The internal competition to be in First Place drove up the number of updates from employees 312%.

Sales teams could, and I think should be incentivised for a number of activities outside of just revenue generation. True, the primary responsibility for sales teams is to close deals but within that process of selling there are a number of activities or tasks that can be measured and applied with game mechanics to drive even more productivity. Image a sales team that saw their work as a game and wanted to unlock as many achievements as possible to be recognized publicly and financially?

I hear more and more companies trying to add a layer of gamification to their sales processes. There are several ways to do this and the achievements and metrics are different depending on each companies desired goals.

• Number of calls
• New opportunities created
• Engagement on social media
• Discussions created in company communities
• Leads generated by online/personal social activities.

The list can go on forever. The truth is that they are almost limitless and all drive business metrics across different departments.

Is your company thinking of implementing gamification to sales or have any game mechanics that have been working so far?

“We are truly excited that InsideView will be supporting the AA-ISP’s mission of helping inside sales reach new levels of professionalism, recognition, and performance,” said Larry Reeves, AA-ISP Chief Operating Officer. “The sales world is changing, and Inside Sales is taking on an ever increasing role in the success of organizations. Recent studies indicate that corporate America is growing their year-over-year inside sales positions by 15%, while field sales are flat or decreasing. Today’s Inside Sales Professionals are top notch individuals proficient in a wide variety of skills that were never part of the sales role a few years ago. The face of sales is changing, and Inside Sales Professionals are leading the way,” Reeves commented.

“InsideView is an ideal social selling tool for inside sales professionals who rely on research prior to making contact with a prospect. It’s an ideal fit for inside reps who need immediate access to customer intelligence between the hundreds of calls they make each week. Besides being an excellent tool for inside sales, they support our vision for the growth of inside sales, and are an ideal supporter of what our association is all about,” stated Bob Perkins, AA-ISP’s Founder & CEO.

“Recent studies indicate that corporate America is growing their year-over-year inside sales positions by 15%, while field sales are flat or decreasing. Today’s Inside Sales Professionals are top notch individuals proficient in a wide variety of skills that were never part of the sales role a few years ago. The face of sales is changing, and Inside Sales Professionals are leading the way,”

“We are pleased to be supporting the AA-ISP, the industry’s leading association dedicated to advancing the profession of inside sales,” noted Greg Brush, InsideView’s VP of Sales & Customer Success. “We share a common vision to help take inside sales to the next level. Both of our teams are looking forward to the continued growth of inside sales and remain passionate about improving the productivity of inside sales professionals.”

About the AA-ISP
The American Association of Inside Sales Professionals (”AA-ISP”) is dedicated exclusively to advancing the profession of Inside Sales. As the only association of its kind, the AA-ISP serves as an authoritative resource to leaders and individual sales representatives who want to take their organization and careers to the next level of professionalism and performance. Our mission is accomplished through an industry-specific focus on leadership and individual development, member forums and networking, best practice sharing, individual training, career development, sales accreditation and annual conferences.

There is a good conversation on the Social Selling University LinkedIn group that is worth sharing. The great thing about these communities is getting so much feedback from so many people with similar and different points of view.

I asked a question that comes up a lot with sales teams that are trying to close business. “Is it ever alright to nag or pester your prospects?” It’s a fine line that I used to walk when managing a territory. Your forecast shows a deal, you have a close date set and then the prospect goes radio silent and falls off the grid. So what do you do? How many calls do you make leaving voice-mails trying to get a status update? You can send an email a day until you get a response but that is definitely crossing into creepy nagging territory.

Social selling techniques can be used if they are not responsive to other communications. Without having a line in the sand as to what would be considered pestering, it’s hard to say. But some of our SSU members had great insights.

What do you think? Leave us a comment here or jump over to the Social Selling University LinkedIn group and post your response there.