80% of Qualified Leads Get Wasted

by

Last week, I attended a marketing presentation which revealed that 80% of qualified leads never get followed-up by sales personnel.  That really shocked me!  After all the increased investment in marketing communications and social media to generate leads, the return on that investment is dismal. Most of the businesses I know are dissatisfied with their lead generation so they keep investing in different methods to increase leads.  But if there is no prompt sales follow-up …

Read more

Leading Through Volatility

by

Cyclical revenue – lots of orders one quarter, not enough the next. Inconsistent cashflow – payables out of balance with receipts. Unpredictable profitability – decision-making is inhibited. Business is rarely stable, but volatility like this is becoming more commonplace. Defining such circumstances as “volatile” seems to suggest that, in the future, business conditions will settle down and return to a calmer state. But instability is well established now, challenging leaders to prove their effectiveness. Sustain …

Read more

Working with Distributors – Quotas Aren’t Enough

by

The working relationship between manufacturer and distributor is often defined by sales quotas.  But using only quotas to manage this vital affiliation does not preserve the relationship’s primary, mutually beneficial purpose of sustaining growth in the market.  When that purpose is unclear, and it becomes separated from the profit motive, bad things happen. The original purpose of the manufacturer-distributor working relationship was to increase sales by expanding market coverage in local markets.  For a while, …

Read more

When They Don’t Get It, It’s Not Them!

by

Many leaders believe that strong leadership and a clear plan are enough to align their people and muster the energy they need to act. But when people don’t seem to get your message, look first to yourself. When people know where they are headed, they typically try to move in that direction. When everyone is pursuing the same goals and they are encouraged to achieve great things, enthusiasm grows and energy is invested. People want …

Read more

It’s Your Choice

by

“Our customers buy only on price.  If we don’t offer the lowest price, they go elsewhere.  They don’t care about anything else…it’s just price.  That’s the way our industry works.” Annie was reacting to my challenge that acting like a commodity is a choice you make. “So is your key strategy to always offer the lowest price…in every circumstance, for every customer?”  When Annie replied, “Not really,” I asked: “Why do customers contact you?” Annie …

Read more

Success Breeds Fear of Failure

by

As an organization succeeds, it gets bigger.  As more people join the company, communications become more formal and standard procedures are documented to ensure consistent implementation.  It becomes harder to encourage people to use their best judgment and expect positive outcomes. Larger means more bureaucracy and a push for conformity rather than driving for something new.  Passion and initiative are compromised as people strive to meet a common standard that must by necessity be defined …

Read more

Filling the Sales Pipeline for Manufacturing – Hitting 2014 Sales Goals

by

No one would doubt that B2B customers are shopping and buying differently today. Thanks to the internet, customers move more quickly along the buying process armed with increased knowledge and more choices. Now that more than half of 2014 is behind us, what needs to change for your team to have better than a 50% chance of meeting the sales goals set for this year? The sales pipeline may seem ominous, but it doesn’t have …

Read more

A Day For Reflection

by

On this day, 13 years ago, we rediscovered the value of life and love. We were forced to reconsider our priorities, to stand together, to comfort one another and to recall our purpose as Americans. The years have passed, but for those of us who experienced it, that day is burned into our memories. That one single day and its aftermath changed the lives of many and of our nation as a whole. There is …

Read more

6 Steps of Listening That Improve Results

by

During a recent workshop, Joseph was consumed with his phone. When he did choose to participate with the group, he would ask me to repeat comments or he would interrupt with an untimely question. At one point in the workshop, each participant described the primary problems they were having building their business, and salesman Joseph described his inability to really connect with his customers and prospects. He just couldn’t get them to seriously engage with …

Read more

Curse of the Gorilla Customer

by

When you have one customer whose business represents more than 25% of your revenue, then you have a “gorilla” customer. If you don’t have one now, you will likely get one at some point. If you are already in this position, then you’re probably feeling vulnerable. What happens if you lose this customer? Don’t be afraid of the gorilla customer – you certainly shouldn’t refuse additional work they’re offering. It’s likely that your business with …

Read more