June SalesNote - Channel Savvy Selling

MXL SalesNote^TM

June 2012

In this Issue

Beware the Lone Wolf

You Hire Your Problems

Channel Prioritization

Walt Whitman on Sales

Sales Executive Council

Beware the Lone Wolf

25% of Top Performers

While they make up the smallest percentage of the overall sample of sales reps (18%), a full 25% of all high performers fall in the Lone Wolf profile. This from the landmark research conducted by the Sales Executive Council.

But thriving sales organizations are not to be patterned after Lone Wolves, that self-assured rep who follows their own instincts and is difficult to control.

By definition, the Lone Wolf salesperson follows no process or set of rules aside from their own. It is impossible to model or replicate their behavior across the rest of core sales organization. Top performing Lone Wolves may do well, but there's no way to bring other performers up to their level in the same manner.

The Lone Wolf struggles in a collaborative, team-based selling approach required in bringing more complex solutions to customers. Certainly they can be disruptive and counterproductive to the sustaining process that management may be bringing to the organization. Bottomline: manage and beware.

More ...

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Channel Savvy Selling

Indirect sales channels are used in many industries, particularly in technology hardware, software and SaaS environments. It's cost effective and allow for more "feet in the street" who already know "where the bodies are." That is to say, good channel partners are positioned in the marketplace with focused attention on customers and prospects and will drive more business for you if you can drive the right incentives for them. Here are 3 truths about channel selling:

1. Squeaky Partner Gets the Deal

While it may not be fair, it appears true that the vendor and channel partner that have more interaction with each other do more business. Whether a channel manager or a rep selling through channel partners, the more you stay in contact with your partner, the increased likelihood that you will conduct more deals and book more revenue together. Why is that? Simple. Familiarity, in this case, does not grow contempt, but makes the heart grow fonder - and drive more deals. Know and prioritized your best partners. It pays off.

2. Compensation is Everything

It's not that it's just about money, it's about the highest return for the investment in time and attention. Partners do the calculation, directly or indirectly, an assess whether this vendor or that vendor is worth it, regardless of the corporate push. Know how your partner gets paid and appropriately help them be successful.

3. Channel Partners Don't Suffer Fools

Sales partners are like you - they want to work with competent people who bring them value. You don't have to know all the answers, but you need to be responsive and know how to get the answers. Invest the time to know and serve your partner channel with insights and worthwhile activity that will bring them revenue. The resulting value will be mutual.

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You Hire Your Problems

When asked to "rate your ability to consistently hire sales reps who succeed at selling" over 47% say their company "Needs Improvement". So says the 2012 Sales Performance Optimization report by CSO Insights.

This is a 5 point increase from the 2011 report. What's happening here?

CSO Insights speculates that this might be caused by the rush to promote new sales managers that did not have the experience to make successful hires. Their research shows that 30% of First Line Sales Managers have less than 12 months of tenure in that role.

We agree. Sales management ranks are being populated with a new wave of young managers who are charging hard to fill their sales teams. With a flood of rep prospects and a rebounding marketplace, the challenge is to make good sales hires and coach them to sales success in your adjusting sales arena.

How's your hiring and coaching?
More...

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Prioritize Channel Accounts Too Priorization Matrix

There's an assumption that salespeople naturally spend their time with the most important, productive and most likely-to-win accounts in their territory. Not necessarily true.

In fact, 47% of sales executives and managers rate "Needs Improvement" in this area as well in the CSO Insights study.

We believe this applies to channel partner sales teams as well. There's an opportunity for sales reps and partner reps to work together to prioritize territory and accounts. The dual-designation ABC Prioritization Matrix, discussed in 42 Rules to Increase Sales Effectiveness, is a powerful tool for assessing priorities and honing strategies in territory planning.

Are you prioritizing accounts for yourself and your channel partners?

More...

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Whitman on Sales Effectiveness

"Character and personal force are the only investments that are worth anything." - Walt Whitman