What’s the fastest way to grow sales revenue? Read this sales liveshow summary to find out author Ian Cartwright’s approach to sales success.
“My mantra is that sales has no real dark art. It's actually just about being organized and disciplined, and using the right tools so that you can manage the right activities in the right places.” For author and sales consultant Ian Cartwright, growing sales revenue requires a simple but direct approach defined by action: not fixating on end sales results.
Ian Cartwright is the founder of Ian Cartwright Sales Coaching, and author of The 6 Fundamentals of Sales Know-How, a sales handbook for new B2B professionals and SME owners. Ian joined Numerik CEO Jonathan Hubbard for a discussion and interview on his approach to growing sales revenue based on his 30+ years of sales experience.
Read on to watch the full liveshow, get access to Ian's free resources, and view our highlights.
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How do you grow sales revenue? Ian explains that to grow sales revenue, you’ll need to recognize which sales activities bring success, and concentrate on doing them in the right areas.
“…if you understand your numbers, and what it takes to get a prospect through [to a closed deal], then you can do the right things in the right places every day.”
Make sure your reps understand and can measure how much of a particular sales activity they need to do to achieve a particular sales result.
“In my first sales role in 1994/93, I knew my measurement was I needed to make 12 phone calls a day for meetings: it's still really simple like that. Things have changed with social selling and digital selling, because we're doing different types of outreach, but we still need to be doing the activity.”
Here's an example: If a rep needs to hit a $100k sales target, and they know that 50% of proposals succeed, they can work backwards to find out which activities they need to do each day, and how many. E.g. X number of calls, X no. meetings, X no. proposals per day.
If you want to grow the most sales revenue in a short time, the best place to start is with your existing customer base: building closer relationships, understanding how your products help them, and where growth opportunities lie.
To pinpoint which customers have room to grow, and make plans for nurturing them, your reps will need a way of categorizing their customers, relative to their importance/growth potential.
“I know who my Platinum customers might be: those one or two which your business really revolves around. Then you've got your gold customers, silver, bronze. You’ll need to come up with some criteria that works for your business to ascertain what it means if a customer’s gold, silver. It might be to do with how much business you do with them now, but it might be potential.”
By tracking customer performance over time, reps can see which customers have room to grow, and which ones should be left alone. Make sure your team knows how to communicate with, and nurture each tier (platinum, gold, silver, bronze) of customer.
To get their deals over the line efficiently, reps need to know exactly the right people in a business to be talking with.
“[It’s] about making sure that you know who all the decision makers are, particularly in your platinum and gold customers, because you don't want to be surprised.”
Encourage your reps to find out who the key decision makers are for each tier of customer and note them down in a contact matrix. As for getting a contact, it can be as simple as asking 'this deal that we're trying to get over the line...who else do I need to be talking to about it?'
Once your reps have a better understanding of their existing customers’ potential, they can start looking for sales opportunities: whitespaces.
“Write down who your top 10 customers are. You may have five, six, multiple products that you're dealing with, or taking to market, but you might be able to map out and say actually, for my top customer, they're only dealing with four out of my six products. And I know they're getting the other two from someone else. So I need to put a plan in place to see what I need to do to secure that business.”
By understanding each customer’s problems, building rapport with them, and knowing how to engage with them, reps can begin to capitalize on these whitespaces to boost sales revenue.
Once reps have developed great customer relationships, they can start leveraging those connections to get case studies, referrals, and turn existing customers into advocates.
“If you can really nurture those existing customers, make sure you're maximizing the amount of problems you're solving for them, then you get to develop low cost simple case studies that you can share as anecdotes with other customers that you're talking to.”
Reps can ask their customers for recommendations of other related businesses they could get in contact with: an easy conversation to have if a strong relationship exists. Ian explains that sales is like growing mold, mold spores next to one another, and so do great sales.
Read the condensed interview below for Ian’s take on enriching customer relationships, developing a sales coaching routine, how his 6 Fundamentals work, and how to advance prospects down the sales funnel better.
Jonathan : 15:15min - If I’m a rep out in the field, what can I do to make sure I’m talking in my customer’s language?
Jonathan : 17:29min - Would ‘speaking in your customer’s language’ be something a sales manager could roleplay with a new rep?
Jonathan : 18:39min - How can sales managers practically work coaching into their month?
Jonathan : 20:51mins - Can you give us an example of how your 6 Fundamentals have worked well in practice?
Audience Question : 26:02mins - In the sales funnel you referred to customers being further along these days. In your opinion is it better to give them more info online and let them advance themselves? Or get them to contact you to get that info (but potentially frustrate them) but control the process better?
If you’d like to hear from more sales experts, why not come along to our next webinar on July 12th? Click here to get more details.