Ten Leadership Lessons from Jack Welch

Ten Leadership Lessons from Jack Welch

… You Do Not Want to Learn the Hard Way

  1. Attracting, developing and retaining world-class talent is a never-ending job.
  2. Be generous by love seeing each person on your team earn raises, get promoted and grow personally.
  3. Consistent, focused and simple communication travels faster and is understood better by the organization.
  4. Continuous learning is critical for success — make it a priority.
  5. Creating an environment of candor and trust is a must.
  6. Differentiation breeds meritocracy, sameness breeds mediocrity.
  7. In a performance culture, actions have to have consequences, both negative and positive.
  8. There is nothing more developmental and illuminating than dealing with adversity.
  9. You must distinguish between coachable development needs in your people and fatal flaws.
  10. Your company’s values and your personal values must be compatible.

All contents copyright © 2016, Josh Lowry. All rights reserved.

Lack of Sales Follow Up is Low Hanging Fruit

Lack of Sales Follow Up is Low Hanging Fruit

Sales Follow Up Audit

Question: 1) Have you ever engaged with a salesperson on the telephone, agreed to further evaluate or look into their product or service, but were never re-contacted by them? 2) Have you ever filled in your contact information on the Internet to download a whitepaper, get an e-book or start a trial, but no one from the company ever called you? 3) Have you ever walked into a store, engaged with a salesperson about a specific need, communicated that you wanted to think about the choices they presented you, but they never followed up?

If you answered yes to one or all three these questions, you are not alone. According to research conducted by CTT, 48% of salespeople never follow up with prospects. Why? The three most common reasons are: lack of commitment (company issue), lack of training (sales issue) and poor work ethic (management perspective). The most common reason is lack of training; i.e., not knowing what to do and how to do it. This is an opportunity for companies and salespeople to capitalize on the lack of follow up of others and to use follow up best practices to increase sales.

Sales Follow Up Best Practices

Speed. The average salesperson contacts a new prospect lead three days after inquiry. Three days! Salespeople who respond within five minutes versus 30-minutes increase their connection and qualification rate by 21 times.

Persistence. When they do follow up, the average salesperson contacts a new prospect one to two times before giving up and quitting. Eighty to 100% of new customer sales require five to 12 contacts before closing a deal.

Frequency. Salespeople should make an average of 6-9 contacts over a 10-14 days period to have a 90-93% chance of connecting with a new prospect and closing a deal. Leverage CRM to automate the follow up cadence.

Escalation. When managers connect with new prospects on their cell phone immediately after leaving the store, on average, 50% return and 80% become buyers at that time. Cell phone number matter. Source: CTT.

Creativity. Salespeople should use a mixed media strategy in their follow up. Prospects prefer to be contacted: 93% via email, 86% via office telephone, 84% via mobile telephone, 81% via voicemail and 79% via text. Mix it up.

Source: InsideSales.com

Follow up is one of the cheapest, easiest and fastest ways to grow sales. Follow up is also another opportunity to provide value to prospects. Prospects buy when they believe there is more value in doing so than not doing so. Value is the relative desire or worth of your product or service to them. Value is about the prospect, not you. Position value in terms that are meaningful to them. Prospects need help. Be the salesperson to help them. If you do not help them, another salesperson will pick off the lowest hanging fruit that you and half of all sellers are missing.

All contents copyright © 2016, Josh Lowry. All rights reserved.

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