So, you want to be a successful sales rep? I’ll tell you a few secrets that worked for me. Sales is about integrating communication and technology into your processes to achieve your goals. Below are the top five skills you should incorporate into your day-to-day processes.Read More
Leadership development programs have become a deciding factor in employee retention, but where many companies blunder is the notion that training equals development. Where training is a learning process, development focuses on the education and overall growth.
MarketStar, realizing this fact, developed NexGen in 2015. This program’s sole purpose is building up the Next Generation of Leaders through a development process. The decision was made to invest in our people by way of the future leaders. We wanted to ensure we had a nimble “bench” of front-runners as the organization scaled.Read More
In today’s subscription-based economy, the value of a customer is fully realized over time, rather than up front. As this model becomes the norm in B2B sales, it’s ushered in the “age of the customer,” in which customers are now largely in control of their business relationships. What does this mean for your business? That the duration of a customer relationship now has a greater impact on the overall health of your company—and that it’s up to you to successfully manage customer success.Read More
I started my career in the fast lane of New York, jumping into commercial banking at 18 when a Banking Center Manager came into the store I was cashiering and said, “I see something in you. Do want to work for me?” My inner engine got fired up, I said, “Yes!” and never looked back.
While I didn’t have the skill, experience, or education of those I worked next to, I was determined to outpace their every move. They worked 12 hours, I worked 14. They worked 14, I raised them to 18. It was like high stakes poker. Dry granola found in my desk drawer was frequently coined ‘lunch.’ I took meetings in the car and on the run to ensure there was no downtime. I managed every second of every day, watching my numbers, paying attention to process, and building my reputation—with masses of hours.Read More
As the sales industry continues its rapid evolution, sales reps will need a higher level of technical competency to sell complex products, services, and solutions. Technology has created a demand for sales teams to stay up to speed on the wants and needs of their customers and the pulse of their respective industries at large. Not only is technology changing how teams operate and interact with their customers, but products are becoming increasingly complex. This requires a rethinking of sales knowledge and skill sets.Read More
Sales coaching is a critical tactic that helps organizations improve individual performance and achieve business goals. Coaching is not only a helpful tool in terms of talent development, it also has a major impact on overall business performance. In fact, a survey from the Sales Management Association found that managers view sales coaching as the most impactful sales effectiveness investment, ranking it higher than other initiatives such as training, best practice sharing, and incentive redesign.
For subscription-based businesses, customer churn has a direct influence on your customer lifetime value. Churn rate is the frequency at which customers cut ties with your product or service during an established period. This metric provides you with a clear idea of customer retention and insight into overall performance.Read More
We’ve entered a new era in sales, characterized by technology and sales science. Data and analytics are already changing how sellers sell—and we have just scratched the surface of this transformation. This trend is called the “science of sales.”Read More
There is a general misconception that companies create their own brands. This simply is not true. A brand is created by the way others perceive your company, its products, and the services it offers. A brand becomes the way they feel and think about you. Even though companies don’t create their brand, they influence it by their actions.
To illustrate, let’s examine two examples, Volkswagen and Kia. Volkswagen launched the brand strategy “working with you” in 2013. Their goal was to establish the idea that they were meeting their customer’s needs. When news hit in 2015 that they had installed a cheat emissions devise in their U.S. vehicles, the once premium car manufacturer quickly lost credibility and confidence in consumers and their customers. Their customers no longer felt like Volkswagen was “working with them.” They perceive the brand as cheaters and dishonest. Not only have they experienced significant job cuts over the last few years, but they have lost revenue as a company. In 2016 sales in the United States dropped 8% in one year.Read More
By now, you’ve heard of software as a service (SaaS), the most popular form of cloud service for consumers. SaaS products are hosted on a remote server and are always accessible through a web browser. For users, SaaS is straightforward, as they don’t need to worry about hardware, software updates, or patches. These applications are managed from a central location, and any integration with third-party applications is done through an API.Read More