Increase company profits by understanding the science and psychology of sales.
Sales is one of the most misunderstood divisions, yet it is the department which determines success or failure of any company or entrepreneur. You could have the most learned EXCO team, the most perfect product or service, stunning offices; but if there is no income from the generation of sales, the company will ultimately close down. A one size fits all management technique of a sales team, is not optimal as there are very few ‘all rounders’ in sales. Sales professionals tend to favour either a ‘hunter’ or ‘farmer’ profile.
The ‘hunter’ tends to close faster than a ‘farmer’, but a ‘farmer’ maintains long-term relationships and benefits from repeat business, but because they sell based on relationships, their sales cycle is slower. ‘Hunters’ are more suited to ‘opening the door’, presenting and closing deals, where the ‘farmer’ is better at relationship building and customer relationship management. Over my career in business development since 1990, I have found that a team of a hunter and a farmer deliver the best results.
Focusing people on their strengths ensures happy and productive people, who are successful and far more capable at doing a great job, consistently. Sales people as a rule are poor at admin and take a tremendous amount of time to perform admin tasks – bringing in an admin oriented sales co-ordinator to assist with admin, who will take a fraction of the time to perform the admin tasks, allows your sales professionals far more time in the field seeing clients. This also greatly reduces data capturing errors in your CRM and with client order details.
From a sales management perspective, the management technique needed to maximise a ‘hunter’, ‘farmer’ and sales co-ordinator, differ significantly and the sales manager needs to understand how to manage each member of their team uniquely, if they are focused on getting the best results.