I have the great pleasure of speaking at #GTM23 Pavilion in Nashville. I was fortunate enough to have many conversations with CROs grappling with the legacy of the past in team and operation, the current challenges and negotiating the path forward. Pavilion GTM23 was the right place to have these conversations.
Following my presentation and the discussions, today, we’re embarking on a journey to explore the essence of sales greatness in 2024. So, grab your favourite beverage and get ready for some eye-opening insights.
Imagine this: it’s the mid-1980s, and Metropolitan Life are in a dire situation. They’ve lost a staggering $150 million in just two years, with $120 million spent on sales training and resources, yielding little or no results. It’s a scenario we’ve seen before – companies investing heavily in revenue generation without a clear strategic plan and measurable success criteria.
MetLife was in a cycle where they recruited 5,000 sales candidates a year, only to witness 50% of them quit within the first year, and a whopping 4,000 were gone by the fourth year. Something had to change, which came from an unexpected source – psychologist Dr. Martin Seligman from the University of Pennsylvania.
The MetLife CEO invited Dr. Seligman to test his process on the importance of optimism in achieving success. He assessed 15,000 employees, measuring their levels of optimism. Surprisingly, the “super-optimists” outsold the pessimists by 21% in the first year and 57% in the second year.
The outcome?
In 2010, MetLife ranked 51 in the Fortune 500, and Dr. Seligman’s positive psychology profiling was credited for cutting recruitment and training costs by a staggering 60%. MetLife became the most successful insurance company in the United States.
But this story isn’t about cutting costs. It’s about recognising that the top 10% of sellers sold 88% more than the most pessimistic 10%.
Could You Apply a Similar Process to Your Sales Team?
It’s a question worth pondering, especially considering that in several recent keynotes, at least 80% of my audience of sales leaders, CROs and CEOs admitted to making a bad sales hire.
The challenges faced by today’s revenue leaders are many. According to research commissioned by Outreach, sales leaders in the US and the UK are grappling with issues like leading multigenerational teams, adapting to rapidly changing buyer preferences, and navigating economic uncertainties.
Adapting to these challenges requires flexible leadership and a deep understanding of market dynamics. Forresters say this is a new skill set becoming increasingly difficult to obtain.
Have You Made a Bad Sales Hire?
When I asked my audience about the percentage of their sales teams that were introverts or extroverts, 60% were extroverts.
Here’s the kicker: according to OMG research, 62% of the best salespeople in the world are introverts, while 84% of the worst salespeople are extroverts. The stereotypical extroverted salesperson might not be your best bet.
Why Are Many Making Sales Hiring Mistakes?
Well, the answer lies in the criteria and methods we’re using. We rely on gut feelings, past performance, customer feedback, and even resumes, which, according to research, have a predictive validity of only 20%.
The cost of a bad sales hire can be staggering, and recent research shows that a whopping 46% of new sales hires fail within 18 months. This risk is mitigated with a comprehensive hiring process that assesses intrinsic drive and sales-specific attributes.
Why Does This Matter? Let’s talk about the future of sales teams
Sales teams and complex sales operations in the future will look very different. They will likely be smaller, more aligned, and focused on account-based strategies that bring sales, marketing, and customer success together, breaking down the silos.
You might be sceptical about reducing your sales teams by 50% while still achieving revenue targets, but evidence supports this shift. Mediafly partnered with Dynata to provide insights into why this might be the future of sales.
95% of buyers’ time is spent away from sellers.
In a world where hybrid and remote selling are prevalent, B2B sales are evolving with AI and automation. Smaller, aligned teams with the right tech and skills can still excel in this environment.
So, how do you know if you have the right salespeople in the correct positions on your team?
In the MetLife example, they used optimism as the key trait. Our research, however, reveals another core competence that has a whopping 375% larger impact compared to other insights. This competence is crucial for effective sales and customer success. Assessing for these core sales competencies can transform your hiring criteria and align your existing sales team with your business objectives and customer needs.
If you want to dive deeper into these insights, I’ve shared more details in my previous LinkedIn LIVE sessions, summarised in my earlier “Revenue Revved Up” newsletter additions. You can also find the recordings on my YouTube channel.
In conclusion, the key to transforming your sales approach in 2024 is a data-driven performance process. It’s about recognising the importance of sales-specific core competencies for sales success and aligning your teams with your business objectives and customer needs. Sales excellence is within reach, and I’m here to help you on this journey.
Let’s make 2024 the year of sales excellence!
I found myself in Tromso, gazing up at the awe-inspiring Aurora Borealis or the Northern Lights, as they are more commonly known. The celestial ballets of light that paint the Arctic skies offer a mesmerising spectacle. As four shooting stars fell across the night sky, I found myself reflecting on life. So today, I will take you on a journey of introspection as I celebrate turning version 6.0.
I’ve grown unafraid to share my experiences and opinions at this stage of my life. I’ve been fortunate to traverse 52 countries, each visit carving lessons into my soul. But my journey hasn’t been without its challenges; growing up in the UK, I encountered the painful spectre of racism. These hurdles slowed my progress but did not stop me; I just had to jump higher.
My life has been a rollercoaster of career development, business failures, and numerous successes, and I’m still learning and growing. I recently found myself uttering the words, “I am living the life I’m meant to have,” this statement has become my mantra as I embark on the 6.0 version of myself.
This year has been a milestone year in my journey. I have had the privilege of speaking in front of two thousand Revenue Generators, CROs, CEOs, Sales Leaders and professionals. I’ve spent precious months in the embrace of my family, both in Antigua and America, all while continuing to work remotely. My calendar has been peppered with exciting adventures – flying over the Grand Canyon in the USA, witnessing the Northern Lights in Norway, and experiencing the magic of cherry blossoms in Japan in 2024, all in celebration of my 6.0 version.
I’m grateful for the opportunity to work with remarkable clients from South Africa, Egypt, Jordan, the UK, and the US. One particularly challenging case became an inspirational success story – my superpower lies in connecting with people, seeing their untapped potential, and guiding them towards greatness through new skills and unrealised strengths.
This transformation led to an additional $10 million in revenue within nine months in one sales operation. The journey to sales excellence began with each individual believing in their abilities and the collective power of their team under solid leadership.
People often comment that I look 15 years younger; although true, the mindset is more important than youthful physical appearance. Mine is rooted in the strength inherited from my parents and my commitment to nurturing my mind and body through exercise and yoga. I’ve learned to trust my experiences, embracing who I am while liberating myself from the expectations of others. I have realised that I am my own harshest critic and most ardent supporter; I choose which.
I used to say, “If it is to be, it is up to me.” I’ve learned that sheer will is insufficient; you must also believe in your will to succeed. The beauty of reaching version 6.0 is that there’s no time to waste – it’s now or never!
I’ve created a video series called “6.0 Tips” (check October LinkedIn posts) because I have stories to share, lessons to impart, and inspiration to offer. I want to celebrate my ongoing journey and ask you – what version of yourself are you? Are you living the life you are meant to have? If not, why not? Are you being the person you are meant to be? If not now, then when?
Surprisingly, while watching the Northern Lights, I experienced a deep sense of sadness. Version 6.0 brings with it a phase of letting go, a transition into a new chapter of life. It means saying goodbye to certain things; perhaps I won’t run more marathons, and that’s perfectly okay. Change and transformation are inevitable in life, and it’s both a sorrowful and exhilarating process.
There are more places I want to explore, cultures to experience, and countless adventures waiting to unfold. To embrace the future, I must release the past, and while it brings a touch of sadness, it also excites me for the journey ahead.
As I look forward to more reasons to celebrate and endless adventures, I am profoundly grateful for the life I’ve lived, the work I do, and the impact I create. I cherish my family and the friends I’ve gained along the way.
They say, “You cannot take it with you”, so I intend to give more than I get. Life is a symphony of change. I am exhilarated about what I have yet to experience from version 6.0, living the life I am meant to have.
#reachforthestars #chaseyourdreams #livethelife
Today, I will be sharing actionable insights to empower your sales team and drive exceptional results.
In today’s fast-paced business landscape, the key to sustainable sales success lies in fostering a people-centric sales culture.
But what does that really mean?
It is all about prioritising the well-being, development, and success of individuals within your organisation. Instead of treating your team members as mere resources, think of them as your greatest asset. When you cultivate a culture of trust, respect, and open communication, you empower your colleagues to reach their full potential.
Now, let’s debunk a common misconception: the idea that people-centric leadership may not align with sales goals. Prioritising people in your sales strategy can be the catalyst for driving exceptional sales performance and fostering long-term customer relationships.
So, how can you implement people-centric leadership in your sales organisation? Let’s explore four key strategies:
1. Invest in Continuous Training and Development
Your sales team is only as strong as their mindset and skills. By providing ongoing training and development opportunities, such as coaching, workshops and mentorship programmes, you empower your team to stay ahead of industry trends and sharpen their selling resilience and abilities.
Did you know that companies that invest in continuous training for their sales teams experience 50% higher net sales per employee?
In our recent LinkedIn LIVE discussion, Andy Champion emphasised the importance of autonomy & accountability to cultivate an environment where sales professionals are encouraged to make decisions and take ownership. This is critical when seeking to foster a sense of empowerment and accountability. Discretionary effort is a sign of how well you are doing here. If your organisation is not developing you beyond what you are doing for yourself, states Andy, then perhaps you are in the wrong organisation.
Additionally, Andy mentioned he uses as a sales leader, the situational leadership model, developed by Paul Hersey and Ken Blanchard, which suggests that effective leadership depends on adapting one’s style to the follower’s development level. The four leadership styles are:
- Telling, Directing, or Guiding
- Selling, Coaching, or Explaining
- Participating, Supporting, or Facilitating
- Delegating, Observing, or Monitoring
This model emphasises that leaders should adjust their approach based on the follower’s performance readiness, which includes their ability and willingness to perform a specific task. This flexibility allows leaders to guide and develop their team members effectively.
2. Promote a Collaborative and Supportive Culture
Collaboration breeds success. Foster a culture where team members feel valued, respected, and supported. Encourage knowledge-sharing sessions and cross-departmental collaboration.
In my interview with Barrett King on Scale Your Sales Podcast, he talks about dumbing down the lone-wolf sales attributes and the importance of sales team collaboration, which stems from a culture of transparency.
Remember, the job of a leader is not to be the smartest person in the room, Andy quotes Richard Branson. Andy highlighted the importance of leaders actively listening to your team members, providing constructive feedback, and leading by example, encouraging open communication to build trust and strengthen relationships within the sales organisation. No one of us is as smart as all of us. The sales leaders must walk the talk and demonstrate the behaviours they expect to see.
Andy also mentioned the feedback tool, The SBI (Situation-Behaviour-Impact) feedback model, which is a structured approach to providing effective feedback. It involves:
- Describing the specific Situation you observed.
- Objectively describing the Behaviour, you observed.
- Explaining the Impact that behaviour had.
This model helps ensure feedback is specific, objective, and focused on improvement.
Like Barrett King, I use the STAR approach, a structured method for analysing and responding to behaviour. It involves describing a specific Situation faced, the Task needed to accomplish, the Action taken, and the Result achieved. This structured approach helps demonstrate your skills and experience in a clear, concise manner, and is often used during job interviews. However, I use this method to give and elicit better feedback and to draw out contextual behaviours linked to impact or results.
3. Actively Listen and Adapt to Customer Needs
Your customers are the heartbeat of your business. Actively seeking and prioritising the needs and preferences of others by actively listening to their feedback and adapting your sales approach accordingly. Remember, customer-centric cultures start from within, so encourage your sales team to cultivate strong relationships with clients built on trust and empathy. Organisations that prioritise customer-centricity experience 60% higher profits compared to their competitors. You must demonstrate active listening at all levels within your organisation to be able to replicate it consistently with your customers externally. Active listening is crucial for effective sales.
Research from OMG states that – The top 10% of salespeople excel in listening over talking, showing a 375% larger difference compared to other insights.
4. Coaching, Mentoring, and Recognition
Coaching is the secret sauce of sales success. Allocate time to coach and develop your people. Research shows that coaching can increase average deal size, sales activity, win rates, and new leads by 25%-40%.
A formal sales coaching strategy reaches 91% quota attainment. Informal coaching reaches 85%. Statistics from a global LinkedIn program support our results; it found that “coached reps attain quota at an average rate 22%-26% higher than their non-coached peers.” Analyst firm SiriusDecisions also ties coaching and continuous sales learning to improved rep tenure and lifetime contribution.
In our LIVE discussion, Andy advocated for his entire team to have a mentor, champion, or sponsor either internal or external or both. For coaches and mentors to serve the entire sales organisation, it must be integrated into the culture from hiring to development, management, and leadership.
The fact is that:
- Some sales managers are not particularly interested in coaching.
- Some sales managers do not know the appropriate times to coach.
- Some sales managers do not know the proper approaches for coaching.
- Most sales managers have not created a sales environment or culture that is conducive to coaching.
- Most sales managers are simply not effective when it comes to coaching salespeople.
I advocate for a data-informed approach that is sales-specific predictive and verified to have a measurable impact on sales performance.
Imagine a scenario where you are guaranteed the recommended sales candidate is 92% and will be in the top quartile of performers within the first year. Imagine turning the candidate assessment into your coaching guidance to kickstart the onboarding success plan. Imagine a sales-specific assessment of the entire team and each manager having the coach notes to guide each individual to be the best they can be into the top quartile of consistent performance.
Imagine making the dark black hole of sales performance that you pull a forecast out of, into a clear crystal ball of consistent performers and coaching managers. This is what I help sales leaders uncover real actionable data from which to successfully develop their elite sales team to execute the business plan.
Prioritising people in your sales strategy and motion is a strategic imperative for driving sustainable sales success. By implementing these actionable strategies, you can create a culture of growth, empowerment, and collaboration that supercharges your sales efforts and fosters long-term customer relationships.
Feel free to share your thoughts and insights in the comments below. Together, let’s unlock the full potential of people-centric sales leadership!
#SalesLeadership #PeopleCentric #SalesCulture #SalesSuccess
I came across two intriguing articles discussing the evolving role of AI and sales. One highlighted AI’s potential to empower employees by fostering a sense of belonging, while the other explored Salesforce’s innovative AI features designed to streamline tasks and enhance customer relationships. It got me thinking—while AI is exceptional at processing data and improving efficiencies, it lacks the essential human touch crucial for building genuine connections in sales.
Article One: AI-driven Belonging and Empowerment
Agreement: The Forbes Tech Council article rightly champions AI’s ability to streamline processes and empower teams for meaningful interactions. AI tools such as sentiment analysis and employee feedback platforms can measure and enhance belonging by providing real-time insights and identifying areas for improvement.
Disagreement: However, it overlooks the nuanced emotional understanding and rapport-building skills essential for cultivating authentic relationships. Establishing trust and loyalty with clients requires more than efficiency—it demands empathy and a deep understanding of human emotions that AI cannot replicate. Leveraging AI sentiment analysis will not ensure organisations create more inclusive and supportive work environments where every employee feels they belong—this is a massive leap!
Article Two: Salesforce’s AI in Sales Prospecting and Training
Agreement: Salesforce’s approach illustrates AI’s role in enhancing sales prospecting and training through data analytics and automation. This aligns with the potential for AI to optimise sales training and processes and improve effectiveness in identifying prospects.
Disagreement: The emphasis on AI’s data-driven decision-making may overshadow the critical role of human intuition and emotional intelligence in sales. While AI provides valuable insights, it fails to comprehend the complex emotions and contexts crucial for successful negotiations and relationship-building.
The Case for Human Connection
Research consistently emphasises the pivotal role of human connection in driving sales success. The State of the Connected Customer Salesforce reports that 82% of business buyers desire personalised experiences akin to consumer interactions, underscoring the enduring preference for genuine, human-driven engagement over purely transactional exchanges facilitated by AI.
“In a digital world, genuine relationships are your true currency.”
Research consistently emphasises the pivotal role of human connection in driving sales success. The State of the Connected Customer Salesforce reports that 82% of business buyers desire personalised experiences akin to consumer interactions, underscoring the enduring preference for genuine, human-driven engagement over purely transactional exchanges facilitated by AI.
Understanding AI’s Limitations
Despite AI’s prowess in processing vast amounts of data and predicting behaviours, its capabilities in emotional intelligence and nuanced interpersonal interactions are inherently limited. Gartner highlights this gap, stressing that while AI enhances efficiency, it cannot replace the empathy and emotional depth necessary for navigating complex sales dynamics.
Customer Expectations and Experience
PwC’s survey findings reveal a concerning trend among consumers—59% feel that companies have lost touch with the human element of customer experience. This disconnect underscores the critical need for sales teams to prioritise authentic connections and personalised interactions that resonate on a human level, fostering enduring trust and loyalty.
Three Key Takeaways for the Future of Sales and Balancing AI
- Balance Integration: Embrace AI as a tool to augment rather than replace human capabilities. By leveraging AI’s analytical capabilities and automation, sales professionals can enhance efficiency while dedicating more time and energy to cultivating meaningful relationships.
- Develop Emotional Intelligence: Invest in cultivating emotional intelligence, practice empathy, and active listening within sales teams. These qualities are indispensable for understanding customer needs, building trust, and nurturing long-term relationships that drive sustainable business growth.
- Build a Learning Culture: As AI evolves, prioritise continuous learning and adaptation. Stay abreast of technological advancements while maintaining a steadfast commitment to understanding and meeting customer expectations through genuine engagements.
While AI-driven technologies offer significant advantages in sales automation and data analysis, their true potential lies in synergy with human connection and emotional intelligence. By striking this balance, sales organisations can navigate the complexities of a digital age while delivering personalised experiences that foster trust, loyalty, and long-term customer relationships.
This integrated approach enhances sales performance and positions businesses to thrive in an increasingly competitive marketplace. The future of sales hinges on leveraging AI to amplify human capabilities, ensuring that technology serves as a catalyst for deeper, more meaningful engagements that drive sustainable growth and customer satisfaction.
As we forge ahead, let’s remember that while AI can enhance efficiency, our human capacity for empathy and understanding ultimately distinguishes exceptional sales professionals and fosters lasting client relationships.
What do you think about the evolving role of AI in sales?
How do you balance technological efficiency with the need for genuine human connections in your sales methodology?
#AIinSales #ScaleYourSales #FutureofSales #EI #Sales #AI
