Profit-drain to profit-rain
Profit-drain to profit-rain
In his single “Mo Money Mo Problems,” The Notorious B.I.G. once lamented the destructive elements of accumulating wealth. If Biggie Smalls had taken up B2B sales instead of rap, he might also have shared the insight that sometimes, more customers can mean more problems. This unhappy scenario can happen when organizations acquire customers that cost more to serve than the revenue they bring in. It can be impossible to tell when you close the deal, but there are things you can do to mitigate the situation. The Harvard Business Review has some helpful tips for dealing with profit peak, profit drain, and profit-desert customers to better align resources and maximize revenue. In other words, to take them from profit-drain to profit-rain.
According to Gartner, by 2025, a full 80% of B2B sales interactions will occur in digital channels. In this world of virtual selling, reps need to find new ways to connect and be relevant with buyers. According to Alejandro Cabral, a global sales leader at Kimberly-Clark Professional, “salespeople need to become thumb-stoppers.” How do you get buyers to stop scrolling and fork over their attention? LinkedIn asked Alejandro and five other sales leaders about their best practices for adapting to a more virtual and fluid buyer landscape, and they replied with a bunch of thumb-stopping advice.
The workforce of the future!
Two years ago, if someone told you that a large part of the global workforce would soon shift from working in an office to working at home, you’d think they were crazy. Fast forward to today, and now you’re trying to remember if they had any other predictions – perhaps related to sporting events or crypto-currencies. As businesses begin to welcome employees back to the office, many are looking at a hybrid approach. However, maintaining a hybrid workforce is not without its challenges. If you’re looking for some advice, Salesforce’s CIO recently shared some key lessons about hybrid work, including the need to treat remote and in-office work in an equitable way.
IN THE GROOVE
Winning something once is awesome. Winning it two times in a row is simply amazing. But what about three times? How does that feel? As the highest-rated sales engagement platform on G2 for now three years running, we can confidently report that it feels pretty darn good. G2 just published its Fall 2021 Grid reports, and Groove has maintained its status as the #1 sales engagement platform for customer satisfaction. Since we’re in so deep with the self-congratulatory nature of this post, we might as well also mention that we’re actually top-rated in five sales tech categories and a leader in eight (including a brand new one: Revenue Operations). You can read all about Groove’s G2 #1 rankings on our blog.
LEARN SOMETHING NEW
Warning: sales obstacles ahead
You’ve had a discovery call, met with some stakeholders, and discussed pricing. This deal appears to be rapidly accelerating towards the finish line. Of course, like in life, it’s the obstacles that you don’t see that often send you careening off the road into a ravine. Salespeople are optimists by nature, but as sales consultant Anthony Iannarino so eloquently put it, “optimism in sales isn’t the mindset that nothing can or will go wrong. Instead, it’s the insistence that you are going to succeed in spite of any obstacles.” If you want to learn how to identify and overcome the most common sales obstacles, head on over to Anthony’s blog. With a little preparation, you can keep your deals moving along in the fast lane – with minimal potholes.
Two tasty flavors of insight selling
If you’re like most salespeople, you have an innate drive to solve difficult challenges (preferably with a solution you’re charged with selling). However, just offering a solution is not enough. To win over buyers, it can be much more effective to embrace an insight-selling approach. This is where you provide – you guessed it – insights that help buyers discover new ideas or opportunities to grow their business. According to sales consultancy The Rain Group, there are two flavors of insight selling, opportunity insight and interaction insight. And neither are vanilla. These are the rocky road and mint-chip of sales strategies. Get all the insights you need about insight selling on The Rain Group blog.
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