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The Career You Never Thought of: B2B Sales and Millennials

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A breakdown of the B2B sales career: why it’s lucrative, what makes stand out salespeople, and the assets required to excel.

This article will break down exactly what B2B sales looks like today and explain why it’s a mistake to pass over a sales career as a lucrative profession for a generation that cares more about lifestyle and meaningful work than money alone.

6a19afb8-54b5-4c7a-a482-940b5267af0dPeak recently conducted a survey on Millennials, aiming to understand and develop insight into how this generational cohort views and understands B2B sales. The survey revealed that B2B sales is a vocation often overlooked and improperly understood by Millennials. In fact, the study found that 17% of Millennials have no knowledge of what B2B sales is.

With companies planning to expand their sales forces over the next several years and a large number of unemployed or underemployed Millennials, we examine exactly what comprises this type of career, and why you, as a Millennial, should care.

What is B2B Sales?

In its most basic form, business-to-business (B2B) sales is the process of selling that occurs between two businesses. It usually comprises of selling a supply, product, or solution. While at a basic level all salespeople serve the same functions, there are significant differences in the skills and competencies required of each. For example, a software solutions company might sell website analytics performance solutions; another B2B company might sell the digital marketing software to a business to execute their online marketing campaigns. While all great salespeople are driven, persistent, and work with a sense of urgency, B2B selling involves sales cycles that are longer and more complex, and include multiple buyers and stakeholders.

Like almost every aspect of business, the tech revolution has drastically changed the wc08694c6-e3b2-4edc-b846-bf163eb4c91day B2B selling is both conducted and understood. The market research company Marketo notes that 93% of consumers, both B2B and B2C (business-to-consumer), begin their purchase journey online. This should matter to Millennials because it positions this generation as potential workforce leaders because they use and understand technology with more proficiency than any generation before. In fact, David Goldin, founder and CEO of Capify, explains that “millennials are actually the most creative, entrepreneurial, and technologically savvy of all in the workforce.” A far cry from the lazy and entitled labels that often follow Millennials around, Millennials actually hold a leadership position in the workforce as a whole in terms of how they utilize and harness the disruptive power of technology.

Required Assets

The most basic qualifications required by a B2B salesperson includes the ability to communicate effectively, build relationships, perform research, listen actively, and present solutions. These are considered entry level skills for a sales position and are the first skills looked for by employers. While such skills are necessary, any qualified person entering the workforce should possess them.

In addition to these baseline abilities, top performing B2B salespeople possess:

  • Extensive product and domain knowledge. B2B consumers expect B2B salespeople to offer market and product insight and educate them when they are considering the purchase of a product or solution.
  • Strong presentation capabilities that can portray complex sets of data and product/market analysis in a clear and concise way.
  • An ability to negotiate purchase terms among multiple stakeholders throughout the sales cycle.

As the authors of Insight Selling explain, great B2B sellers are able to connect with buyers based on their company needs, but also with buyers as people. They have the ability to persuade the customer that any risks required of the purchase will lead to a substantial RIO, and engage with the needs of the buyer by consulting and collaborating throughout the purchase process. And this is simply where it begins.

As more and more universities</span are offering sales related courses and certifications, young people entering the workforce are able to enter a sales career with some formal education in sales as a discipline. For example, a teaching innovation by a small Midwest university became the subject of an academic study when it initiated an experiential B2B sales course for its undergraduate students. The course taught students how to design cover letters, pitch letters and emails, and draft proposal memos, among other things.

The course further endeavoured to mitigate some of the common misperceptions of sales representatives, such as the use of high-pressure selling tactics and unhealthily competitive work environments. The activities involved in the course functioned to introduce students to the idea that being a sales representative requires effort and dedication similar to other professional occupations, such as a teacher, lawyer, or doctor. While selling capability may in part be something you are born with, there are significant ways you can develop and hone an innate set of qualities, much like other/identifying-sales-hunter-dna-5-interviewing-secrets/ career paths.

Number One Key to Success

When it comes to the actual DNA (the characteristics or qualities that make a person naturally attuned to sales success) of a salesperson, it’s possible to overlook a career in sales if you don’t view yourself as the ultra confident, highly extraverted type. However, new research is now available that should quell such fears: a study conducted by Murray Barrick, published in the Journal of Applied Psychology, found that conscientiousness, not extraversion, is the personality trait most associated with success as a sales representative.

Sales representatives high in conscientiousness are more likely to set goals and are more likely to be committed to goals, which in turn is associated with greater sales volume and higher supervisor ratings of job performance.

There are two facets of conscientiousness that are important for B2B salespeople to understand to be successful: can-do and will-do performance. The biggest predictors of can-do performance are “ability, declarative knowledge, procedural knowledge, and skills” according to the study. Conversely, will-do performance is most strongly correlated to measures of “personality, interests, and reward preference.” Simply put, salespeople possess exceptional traits of drive. This asset leads to higher levels of resiliency, optimism, and need to achieve, all of which are necessary factors to exceptional sales performance.

For those less extraverted who are in or interested in B2B sales, this means that high compensation and career success are not only possible, but actually probable with the right amount of conscientiousness. Extraversion, often posited as a necessary ingredient for sales success, in fact has low correlation to a thriving career in sales. This opens the door to those who may be quieter in volume but who are exceptionally hard working and effective strategists.

What’s In it for Me?

Every career comes with its own set of pitfalls and perks; sales is no different. From work-life flexibility and autonomy to the ability to operate as an entrepreneur to high compensation potential, there are many aspects of a sales career that make it appealing to the right person. In fact, data from the respondents of Peak’s Millennials survey suggests that most individuals (28%) who stated they were interested in B2B sales was because of the opportunity for high compensation. On the other hand, 53% who stated they had no interest in B2B sales did so because this career path did not align with their interests. Specifically, they stated they were interested in a career in the tech or professional services sectors.

Moreover, Millennials that indicated their interest in a B2B sales career stated they were interested in a career in the tech or professional services sectors. Interestingly, both the tech and professional services sectors have identified a need for salespeople, and the consequences have been felt by organizations of all sizes due to this shortage in the workforce. In fact, the Harvard Business School’s U.S. C016a6b2d-330e-445c-a8c5-be7b16f53c3dompetitiveness Project notes that one cloud based software company missed out on $2 million in annual revenue due to a failure to bring on enough sales personnel to get their product to market. Simply put, this means there is an abundance of opportunity to work in these sectors. Competition is high but the market is only expanding, which means there are opportunities if you seek them out.

Despite Millennials’ reputation as digital natives, a report published by the IBM Institute for Business Value corroborates with Peak’s own data. The data demonstrates that this generation actually prefers more direct interaction with vendors when it comes to B2B buying and selling. Past generations of B2B buyers have relied most heavily on third party articles, reviews, and expert analysis when considering the purchase of a product. Today, however, Millennials are most likely to trust the vendor’s representatives when researching a product. They want communication throughout the sales cycle, and interaction as often as possible.  

As the generation who experienced the ramifications of a financial crisis, Millennials are looking to develop security monetarily, and have naturally shifted away from the seemingly risky and hard driving lifestyle of a salesperson. But, companies are beginning to respond to Millennials’ perception of sales, and it is more common now to offer a higher base compensation as a way to alleviate the stress that can come with a commission based career.  Additionally, sales isn’t always about being a  hunter for new business, you can always farm existing accounts, which means you don’t necessarily have to be hyper aggressive to have success. Sales today is less about being a showy salesman with a silver tongue and more about being a problem solver with people skills.

If you are an exceptional or up and coming B2B salesperson with an interest in exploring exceptional career opportunities in your sector, or simply want to gain knowledge of what’s happening in your industry, submit your resume to our Candidate page here.

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Sales Recruiting in Atlanta: How Growth is Impacting Employers

Since 2013, Atlanta has become something of an economic unicorn. The city and its surrounding areas have enjoyed strong job growth, especially in well-paying professional and business services jobs. Yet, the region continues to boast a relatively low cost of living, especially when it comes to housing. At the same time, both state and local government are working overtime to lure companies to the region and to develop the infrastructure necessary to nurture the area’s start-up companies. This is good news for employers looking to expand their sales forces in the Atlanta area.  

With new graduates from the region’s cluster of prestigious colleges and universities and a steady flow of well educated migrants from other U.S. cities coming into the region looking for a better quality of life, employers are likely to find a deep and intriguing talent pool in Atlanta.

This article discusses how sales recruiting in Atlanta is evolving. Specifically, it illustrates how the city’s growth, budding start-up community, and educational institutions are affecting the sales talent pipeline, sales wage levels, and employer hiring requirements.

The Atlanta Landscape – An Overview

Atlanta and its surrounding region make up the 11th largest metropolitan area in the U.S. The region is second only to Miami-Dade in Florida as the largest in the southeast. Forbes ranks Atlanta #5 on its annual Best Places for Business and Careers and the city is also included in the top ten “cities of the future” list compiled by FDI Intelligence, a division of the Financial Times.

As headquarters of the U.S. Centers for Disease Control, Atlanta has always played a key role in the medicine, pharmaceuticals and life sciences industries, a role backed up by an impressive array of research universities that include Emory University, Georgia Tech University, and Georgia State University.

However, while Atlanta continues to be a leader in these health-related industries, its economic growth is coming from a diverse array of areas. Blue chip companies are moving their headquarters to take advantage of Atlanta’s skilled workforce and low cost of living, joining Fortune 100 companies like Coca-Cola, Delta Airlines, Home Depot, United Parcel Service, AT&T Mobility and Newell Rubbermaid.

Established companies are also moving their headquarters to Atlanta. Last year, Mercedes-Benz USA moved its headquarters to a temporary office in Atlanta while awaiting its new building to be completed next year while NCR Corporation broke ground on its new headquarters in Midtown Atlanta. In order to be in close proximity to other technology companies, Sage Software expanded its North American headquarters with a new facility in downtown.

The city’s low cost of living is often cited as a reason for companies relocating or expanding in Atlanta, but incentives provided by state and local government are also likely to weigh in that decision. For example, the state of Georgia provides a tax credit of $2,500 to $5,000 per job created.

“Our new Atlantic Station location puts us in the in the center of the emerging Midtown Atlanta technology corridor and positions our newly established North American headquarters to attract top talent in the years to come,” – Marc Scheipe, Sage North America’s CFO.

Start-ups have targeted downtown to take advantage of the entrepreneurial support network and incubators, like TechSquare Labs with its 25,000 square feet of co-working and innovation space, and Georgia Tech University and other nearby universities. And other large and mid-size companies, like Equifax and Georgia-Pacific, are growing along with the city itself in a wide range of industries, including financial services technology, healthcare, life sciences, cyber security and app development. The chart below shows regional employment by industry. Growth in professional and business services, one of the largest industries in the region, continues to be strong.

Employment in the Atlanta Region as of February 2016

Industry Number employed (thousands)
Trade, Transportation, and Utilities 924.1
Professional & Business Services 662.8
Government 684.0
Education & Health Services 543.8
Leisure & Hospitality 462.1
Manufacturing 385.1
Financial Activities 238.5
Construction 173.4
Other Services 157.1
Information 102.4
Mining and Logging 8.8

Source: U.S. Bureau of Labor Statistics

Atlanta’s position as a regional economic hub is backed up by its geographical location. The city sits at the convergence of several major interstate highway arteries and its airport, Hartsfield–Jackson Atlanta International Airport, is the busiest airport in the U.S. in terms of passenger traffic.

Outside of work, there is plenty to do in the city, including music, theater and professional sports. The city is also awash in history and the site of the Martin Luther King, Jr. National Historic Site. Over the past several years, Atlanta has become a Hollywood of the eastern seaboard with $6 billion worth of film production going on in the city and its surrounding areas throughout the year.

Sales Opportunities in Atlanta

Atlanta is growing. Between November 2014 and November 2015, the metropolitan area added 25,100 jobs. In particular, growth in professional and business services jobs (5.3%) far outpaced the 3.2% experienced in the U.S. as a whole. This growth is coming from companies large and small who are either choosing Atlanta as their corporate hub or expanding into the city.

Given this economic growth, sales professionals will not lack opportunities. With sales positions a perennial entry on lists of the hardest jobs to fill, companies fishing in sales talent pools are looking for the best stocked ponds. Atlanta fits the bill.

The local area has an ongoing flow of new talent coming out of universities like Georgia Tech, Emory University and Georgia State University, among others. Sales professionals who want to increase their chances for success also have access to sales-specific education and talent development opportunities at these schools, making them more educated in sales than any generation before. Georgia State University, Morehouse College, and Kennesaw State University are all among the top 50 universities for professional sales education. Further afield, the University of Georgia, 90 minutes away, also ranks on the list.

At the same time, new migrants to the area are driving population growth, attracted by expanding job opportunities and the low cost of living. There are still challenges, however. For instance, like the rest of the southern U.S., and indeed the country as a whole, it still takes time to fill positions. In this case, companies in the region should expect an average of 26.9 days to fill a job vacancy, according to data from DHI Hiring Indicators. For senior sales positions in particular, Atlanta employers are reporting search times to range between 100-125 days.

Other industry moves also have greater impact on Atlanta than just opening a new office or plant. Baxalta (formerly part of Baxter International) is scheduled to open a new plant in Covington, GA this year. This is significant for the city because “[i]t breaks the stranglehold that North Carolina has on pharmaceutical manufacturing,” according to Bill Johnston, CEO of Tucker, GA based InVasc Therapeutics Inc. and a 20-year Baxter veteran. He noted that Baxter chose the Atlanta site for its proximity to Hartsfield-Jackson Atlanta International Airport. “Atlanta could become a preferred hub for pharmaceutical or vaccine manufacturing that requires air distribution,” he said, noting that Dendreon Corporation also chose Atlanta for a cancer treatment manufacturing plant for the same reason. As Atlanta becomes more of a hub for pharmaceutical and life sciences companies, career opportunities in sales are likely to grow in tandem. In fact, requests for Atlanta based senior sales reps and regional managers have increased by 24% since 2014.

As Atlanta continues to attract sales talent by diversifying and expanding industries in the area, ideal candidate requirements in the city are evolving as well. Typically, employers are evaluating candidates against these 4 primary criteria:

  • Achieved quota for past 5+ years
  • Experience in account and territory planning (Atlanta area and Southeastern statelines preferred)
  • Extensive CRM knowledge
  • Successful experience working in an entrepreneurial environment

For organizations looking to attract and recruit top salespeople with the ability to exceed targets in the Atlanta area, download our free winning job description templates for VP of Sales, Sales Manager, Account Executive, and Sales Engineer positions.

The Start-Up Scene

DataFox named Atlanta one of the best cities to form a start-up outside of Silicon Valley and New York. “Atlanta’s start-up scene owes a great deal of its success to Mayor Kasim Reed,” according to the report. To create an environment for start-ups to thrive, Reed recruited economic development veterans to build out the Invest Atlanta staff and deepened ties to nearby Georgia Tech University, among other initiatives. 

Other investors are taking advantage of the opportunities in Atlanta. The recently formed Leaders Fund plans to invest the $100 million it has raised in enterprise SaaS firms in both Atlanta and Toronto. In Atlanta, the fund will be looking for opportunities to invest in “underserved” companies from a venture capital perspective.

In terms of overall venture capital, Atlanta ranks 13th in the ongoing MoneyTree Report compiled by PricewaterhouseCoopers and the National Venture Capital Association. In 2015, the Atlanta area attracted more than $836 million for 70 deals allocated to 58 companies. Data from the fourth quarter 2015 (below) shows a breakdown by industry, all of which rely heavily on their sales forces to drive growth.

Bijon Khosravi, an angel investor in Atlanta, expects the city to continue growing as an entrepreneurial hotspot, especially for Silicon Valley companies looking to expand or relocate. “Leaving Silicon Valley means leaving the ego behind too,” he said. “In Atlanta, an entrepreneur doesn’t have to charter a luxury bus to cart workers from San Francisco to Palo Alto or Mountain View. There is no need for extensive perks or costly amenities. Salaries are much more affordable, and the cost of living is lower in Atlanta. For example, the median price of a home in San Jose is $773K. The median price for a home in Atlanta is $138K. That’s big savings when it comes to a business plan.”

Moreover, Peak Sales Recruiting has seen a dramatic increase in the amount of requests from start-up companies seeking to recruit top performing sales executives in the Atlanta area. Since 2012, the demand from high-growth start-ups looking to hire sales leaders in the area has increased by 16%.

High Growth with a Low Cost of Living

There are plenty of reasons why future growth in Atlanta and its surrounding areas shows no sign of tapering off. “A high concentration of college-educated workers, business partners, high-tech companies and research universities will continue to attract high-technology companies in life sciences, research and development, IT, professional and business services, and advanced manufacturing,” predicts Jeffrey Humphreys, director of the Selig Center for Economic Growth at the University of Georgia.

Overall, Atlanta’s job growth between November 2014 and November 2015 was more than 1.5 times greater than job growth for the U.S. as a whole. As a result of this strong job growth, the Atlanta area has more than recovered from the recession. “Total payroll employment is now more than four percent above its pre-recession peak,” according to an economic forecast from PNC Bank. “High-tech professional services have been the mainstay of Atlanta’s economic rebound. A number of planned expansions and relocations to Atlanta by large firms attest to the strength of Atlanta’s tech and corporate cluster.”

More importantly for the future, growth from the types of jobs Atlanta is attracting is in many ways self perpetuating and sales job growth is a key beneficiary of the city’s current growth trajectory. For example, if a software firm creates 100 new jobs, assuming industry-average earnings of $140,304, the economic impact of those jobs would create an additional 503 jobs in other industries, including sales positions, averaging $61,488 in earnings, according to an analysis conducted by CareerBuilder and Economic Modeling Specialists International. This includes 78 jobs in sales and related fields, 51 management jobs, and 55 jobs in business and financial operations.

In addition to job growth, Atlanta is attractive to both companies and key sales talent because of its the relatively low cost of living compared to other major metropolitan areas. This is particularly important for start-ups and companies of any size that want to attract great sales talent from other areas.

DataFox’s report on the Atlanta entrepreneurial environment specifically focuses on the low cost of living the city offers. “Atlanta makes our list primarily because its early-stage companies show strong growth, and because it’s more affordable than many other startup centers. With a focus on scaling and low cost of living, Atlanta is the perfect place to grow a company from 1 employee to 100.”

Housing costs, in particular, are low enough to make home ownership feasible for a large swathe of the working population, something that cannot be said for many other major cities. PNC Bank noted in its analysis that a median-priced home priced costs 1.4 times the area’s median income, compared to 1.7 times the median income nationally. The chart below shows how affordable housing is in real terms compared to other cities.

The one shadow on the Atlanta growth curve is traffic—the natural consequence to rapid growth in a major city center. Like Austin, Silicon Valley, Los Angeles, Boston and many other urban hubs, Atlanta’s traffic jams have become a well-known nuisance in the logistics of transportation. Companies are well aware of the situation and many are turning to flex-time and some telecommuting options to help employees avoid long commutes. Mercedes-Benz USA, which recently moved from Montvale, N.J. to Atlanta, quickly recognized traffic problems and is looking at flexible work arrangements to deal with the issue. “The new generation of employees expect such flexibility in lifestyle, too,” said Stephen Cannon, the company’s now-retired CEO.

Despite the traffic difficulties, one benefit of Atlanta’s location is that the road warriors of sales have ready access to one of the most important airline hubs in the country. In fact, Atlanta’s easy access to direct air travel is one of the reasons why so many companies choose the area for their operations. Not only does Hartsfield-Jackson Atlanta International Airport serve as an important distribution hub, but the airport also helps get people in and out of the city more easily for sales meetings, customer visits and other key elements of the sales process. This hub is a key reason why Mercedes-Benz is moving its dealer leadership training to Atlanta. Such a strategic move is not surprising when you consider that Mercedes-Benz USA’s new CEO Dietmar Exler was formerly the company’s vice president of sales, a position now held by Adam Chamberlain.

The Impact on Sales Pay

Despite such consistent growth, sales pay levels in Atlanta remain in line with national averages. Peak Sales Recruiting data shows that Atlanta salary averages for VP of Sales, Account Executive, and Sales Manager are all very close to U.S. averages. While these averages remain on track with national figures, the low cost of living in Atlanta makes these salaries more attractive.

While overall annual wages in Atlanta are close to national averages, wages for specific positions greatly vary. For example, average annual wages for advertising and promotions managers, at $93,370, are much lower than the national average of $114,700, while advertising sales agents earn much more ($78,510) than the national average for those positions ($60,910).

Peak Sales data indicates that for a VP of Sales in Atlanta, the average salary is typically lower in most industries (IT and telecommunications, manufacturing, and software) in comparison to major cities like New York, Boston, San Francisco, and Los Angeles. For more information on average sales salaries for Atlanta vs. other major cities by industry, please see the VP of Sales Salaries by Industry article.

Looking Ahead

Atlanta has a lot to offer and a bright future. While the city still has some work to do as it builds its entrepreneurial infrastructure before it can catch up to places like Silicon Valley and Austin, city officials, higher education and the local business community have carefully laid the groundwork for future growth. Large and mid-size companies have already begun to capitalize on Atlanta’s low cost of living and strong talent base. People moving into Atlanta from more expensive parts of the country have recognized the advantages of Atlanta as they move into the region in search of affordable housing with an enhanced quality of life. Sales professionals will indefinitely seek out Atlanta as a location to discover opportunities for career growth, while the companies that hire those professionals are likely to see a deep talent pool eager to advance their careers.

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Millennials’ Perception of a B2B Sales Career [Infographic]

Millennials Infographic 1

The Millennial generation will soon make up the vast majority of the workforce and in order to remain competitive in the marketplace, employers need to implement recruiting strategies that are designed to attract and retain Generation Y employees.

To better our understanding of the needs and wants of Millennials in the B2B sales workspace, we conducted the 2016 Millennial and the B2B Sales Industry Study.

To give you a brief overview of some of the findings, we created the infographic below. This visual guide summarizes the study’s major findings of the Millennials’ perception of a B2B sales career.

For more findings, download the complimentary study here.

Infographic_1_V2

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The 25 Sales Books Every New Sales VP Needs to Read

Top Sales Books of All Time

The new VP Sales has the opportunity and responsibility to achieve aggressive growth targets, and make a deep impact on company-wide culture. That’s why we’ve hand-picked these 25 sales books (in no particular order) from the best in the field and organized them into the 5 key responsibilities of the new sales executive:

  • Lead a team of top performers
  • Craft a sales strategy that scales company revenue
  • Hone team sales tactics
  • Collaborate with cross-functional executives
  • Land bigger sales at bigger companies (and sell to the C-suite)

Lead a team of top performers

VP Sales become VPs because of their successful track record – ususally as a rep and manager. But as an executive, their role is to scale their talents with a team that will achieve their sales targets year-over-year. These books teach basic and advanced management strategies to lead top-performing sales teams.

1. Sales Management. Simplified.Sales Management Simplified

The Straight Truth About Getting Exceptional Results from Your Sales Team

by Mike Weinberg (2015)

This book tops our list for the new VP Sales because it encourages leaders to take full responsibility for the performance of their sales teams, gives no-nonsense tips for world-class sales management, and roots it all in real-life stories.  

As a consultant, Mike Weinberg has seen many sales organizations that struggle under executives and sales managers that unknowingly undermine performance. “I was tired of being called into companies by senior executives to fix their ‘sales problems,’ only to discover that it was a leadership problem,” Weinberg explains in an interview with the CEO of Peak Sales Recruiting, Eliot Burdett. “If it’s broken at the top then it’s broken and the team will never do better than the leader.”

Readers will learn the 16 basic sales management flaws and how to create a healthy culture in their sales organization, match high performers with the right roles and coach underperformers, run meetings their teams actually look forward to, and structure the best compensation plan. “Long on solutions and short on platitudes,” Weinberg’s guide for sales executives is a must-read.

2. The Sales Development PlaybookThe Sales Development Playbook

Build Repeatable Pipeline and Accelerate Growth with Inside Sales

by Trish Bertuzzi (2016)

Jill Konrath calls Bertuzzi’s book “the Sales Development Bible.” This book’s focus on teambuilding and recruiting makes it particularly useful for sales executives who need to scale their sales teams, recruit with urgency, and get deep and practical advice on retention through engaging, motivating, and developing their best talent. Also helpful is its strategic guidance on building new pipeline for your specific market. This is a highly actionable, step-by-step guide divided into 6 sections.

3. 52 Sales Management TipsThe Sales Managers Success Guide

The Sales Managers’ Success Guide

by Steven Rosen (2012)

52 Sales Management Tips presents 52 concise and clear-cut tips for the sales executive who’s strapped for time yet knows they need to develop their team. It’s an easy read at a short 60 pages, and the tips are bite-sized and standalone, so readers can pick it up and read in small pieces here and there, rather than all in one go (one tip a week for a 52-year week).

“Wow, Steven has got it right…Focus on sales management to increase sales performance.  No complicated strategy, just actionable coaching tidbits that guide you to the right tool for the right situation at the right time.” — William “Skip” Miller, author, ProActive Sales Management

4. Your Sales Management Guru’s Guide to Leading High-Performance Sales TeamsYour Sales Managers Guide to Leading High Performance Sales Teams

by Ken Thoreson (2011)

Ken Thoreson of Acumen Management provides a practical guide to managing sales teams, with hundreds of specific tactics and techniques a new VP Sales can experiment with immediately.

This book is easy to digest because it is broken into 39 chapters. Readers will learn:

      • How to Build a High-performance Sales Culture
      • How to Make Monday Morning Sales Meetings Count
      • Why Leadership Matters
      • How to Create Your Own Sales Certification Plans
      • How to Develop Sales Compensation Plans that Work
      • How to Lead Sales Contests that Increase   Sales and Build Teamwork
      • How to Measure and Manage Sales Activity
      • How to Uncover Leading Indicators that Predict Revenue
      • How to Build a Self-managed Sales Team
      • Time Management Techniques for Sales Managers

5. Coaching Salespeople Into Sales ChampionsCoaching Salespeople into Sales Champions

A Tactical Playbook for Managers and Executives

by Keith Rosen (2008)

Keith Rosen argues that sales executives need to focus on coaching, not sales training, in order to develop a team of high performers in the cutthroat sales environment. This sales coaching handbook teaches how to create a thriving internal coaching program, and broader culture where coaching is woven into everyday activity. It teaches how to recognize the different management styles you’ve encountered in your sales career and how to steer your own style away from a tyrannical one to a coaching-oriented one.

This book is a winner of five International Best Book awards. It provides immediately actionable tips on how to coach anyone in any situation, This book fights general advice and platitudes by providing proven coaching scripts, questions, and templates, as well as real-life stories and deep dives into mistakes coaches make. It even offers a 30-day intervention strategy to turn around poor performers.

6. Agile SellingAgile Selling

by Jill Konrath (2014)

The only constant in the sales world is change, and this book helps the new Sales VP assimilate into their management role quickly. It’s also widely applicable framework for their own reps to get up to speed in new situations, like pivots, promotions, and industry changes. The no-nonsense book presents “meta-skills” to quickly absorb tons of information, ramp up on new skills nearly overnight, manage a busy calendar, keep motivation high, and gamify sales work. Readers will carry these habits throughout their careers and benefit long after they finish the last chapter.

Craft a sales strategy that scales company revenue

A new VP Sales’ role in a start-up is to bring a company from initial traction to initial scale. Strategy is a core responsibility, and once a company reaches ~$20m ARR, the VP Sales should shift focus away from tactics even more to go deeper into strategy – Jason Lemkin.

7. The Sales Acceleration FormulaThe Sales Accelleration Formula 

Using Data, Technology, and Inbound Selling to Go from $0 to $100 Million

by Mark Roberge (2015)

An engineer from MIT, Mark Roberge took HubSpot’s sales through the company’s first 10,000 customers. He pioneered a new method of scaling sales through metrics, process, and inbound selling. Roberge argues that sales can be taught; that there is a science and process behind it that one can distill into a replicable formula. This book is that formula, teaching readers a practical approach to bringing prospects from lead gen to sales in a combined sales and inbound marketing collaboration. “Readers will learn how to apply data, technology, and inbound selling to every aspect of accelerating sales, including hiring, training, managing, and generating demand.”

Inbound content and lead generation has changed the sales landscape, and it’s here to stay, so it’s an especially important read for the contemporary VP Sales. Roberge covers five key areas — four formulas and a way to think about technology in the sales context.

      • Hire the same successful salesperson every time — The Sales Hiring Formula
      • Train every salesperson in the same manner — The Sales Training Formula
      • Hold salespeople accountable to the same sales process — The Sales Management Formula
      • Provide salespeople with the same quality and quantity of leads every month — The Demand Generation Formula
      • Leverage technology to enable better buying for customers and faster selling for salespeople

8. Beyond the Sales ProcessBeyond The Sales Process

12 Proven Strategies for a Customer-Driven World

by Steve Andersen and Dave Stein (2016)

Steve Andersen and Dave Stein argue that sales professionals who focus on just getting the sale are making a fatal mistake: what one does before and after the sale is just as important. The average executive spends less than 5 percent of their time engaged in the buying of products and services, so sales teams need to make sure they’re engaging these executives the rest of the time as well. This book divides 12 strategies into three sections: how to drive success before the sale, during the sale, and after the sale. It teaches how to create value for customers at all times and not just being reactive to requirements in an RFP. The book is backed by research and illustrated with case studies from companies like Hilton and Siemens, making it one of the most captivating sales books of 2016 and one we recommend all emerging sales leaders read. 

“Most sales books assume that only the sale matters. Not true. This book considers the whole picture—what’s happening when your customers aren’t buying from you influences them when they are.” — Yvonne Genovese, GVP, Gartner, Inc.

9. The Business Battlecard The Business Battlecard

Winning Moves for Growing Companies

by Paul O’Dea (2009)

This book is a field guide to sales strategy for senior executives of growing companies. The Business Battlecard helps the reader “craft a winning strategy that will win you the war on several fronts: the battle against competitors, the battle for customers’ minds, the battle for investors’ wallets, and the battle for employees’ hearts.” It covers how to devise a clear strategy, align the team, align other executives, and execute. The book includes a one-page visual summary (a “battlecard”) for what you need to focus on and guides the reader through five key questions.

10. The New Strategic Selling The New Strategic Selling

The Unique Sales System Proven Successful by the World’s Best Companies

by Robert Miller and Stephen Heiman (2008)

The Miller Heiman sales strategy and the classic book Strategic Selling became a cornerstone for salespeople and non-sales businesspeople alike with the introduction of the “Win-Win” concept in 1985. The authors revised the book in 2008 for modern complex sales, covering strategic topics like creating steady revenue (avoiding boom and bust), understanding competitive offerings and substitutes, identifying the four real decision makers in even the most vexing corporations, and closing the right business, not business you’ll regret later.

11. Nonstop Sales BoomNon Stop Sales Boom

Powerful Strategies to Drive Consistent Growth Year After Year

by Colleen Francis (2014)

This book teaches sales executives how to avoid boom-bust cycles and create a sales system to smooth out erratic highs and lows each quarter. Francis introduces the Sales Radar concept, which is a holistic way to characterize prospects alongside the sales funnel. This is divided into four sections which she argues each deserve attention and work in harmony to create a steady supply of wins throughout the year: Attraction (filling the pipeline), Participation (turning leads into customers), Growth (picking the best clients and investing in them), and Leverage (generating referrals). Peak Sales Recruiting reviewed this book in depth because of its standout concepts for long-term business growth.

“Packed with enlightening examples of sales disasters and standouts…brings balance to the selling process, reliability to revenues and booming sales all year long.” Top Sales World

Hone team sales tactics

A new Sales VP needs to scale their work with a high-performing team, implementing advanced sales tactics. And from time to time, their responsibility is to close sales themselves — something taking a deal from end to end. These hand-picked books will expand the reader’s tactical skill to deal with any situation.

12. Insight Selling Insight Selling

Surprising Research on What Sales Winners Do Differently

by Mike Schultz & John Doerr (2014)

This book helps B2B sales teams adapt to the new paradigm, in which, the authors argue, buyers see products and services as replaceable. Schultz and Doerr interviewed over 700 B2B purchases and found that the #1 winners sold radically differently than the #2 finishers. They share their new data, as well as a three-level Insight Selling model that helps sales executives parse out which advice to follow, which to discard, and what parts of their existing processes aren’t working anymore. This is an important read for the new VP Sales and for members of their team.

“Schultz and Doerr are truly among the elite sales thought leaders. Insight Selling outlines exactly what you need to do to set yourself apart and find yourself in the winner’s circle. It’s a must read for even the most experienced sellers.” — Jill Konrath, bestselling author of Agile Selling & SNAP Selling

13. Bottom-Line Selling Bottom Line Selling

The Sales Professional’s Guide to Improving Customer Profits

by Jack Malcolm (2011)

Jack Malcolm’s philosophy to selling focuses on the bottom line — of your customer. This book helps the new VP Sales and their team navigate their prospects’ business goals and problems to cultivate a deep understanding that leads to value creation. “The only way to add measurable value to your customers—the kind that gets the attention of high-level decision makers—is to understand how their business generates cash, bring solid ideas for improving their cash flow engine, and speak the language that resonates with them,” says Malcolm.

“I read a lot of business books, more than 100 a year, and I can say without question that Bottom-Line Selling is absolutely one of my all time favorites. If you want to clearly understand how to use business acumen, competitive intelligence and your customer’s financials to position yourself as a trusted advisor and close major deals, this is a MUST read book.”— John Spence

14. Fanatical Prospecting Fanatical Prospecting

The Ultimate Guide to Opening Sales Conversations and Filling the Pipeline by Leveraging Social Selling, Telephone, Email, Text, and Cold Calling

by Jeb Blount (2015)

A key responsibility of the VP Sales is to inspect pipeline and make sure it’s being filled in a healthy, sustainable way. This book is a well-loved, must-read basic guide to prospecting that’s well worth a revisit for leadership hoping to train their team to improve lead generation.

“Jeb Blount turns the most despised activity in sales – PROSPECTING – upside down. He nails it with his insights, humor, and expertise, making this a book every salesperson, entrepreneur, and executive must read. Get ready to come away with more strategies and ideas and you’ve ever found in one place.”  Mark Hunter “The Sales Hunter” author of High-Profit Selling: Win the Sale Without Compromising on Price

15. Metaphorically Selling Mettaphorically Selling

How to use the magic of metaphors to sell, persuade & explain anything to anyone

by Anne Miller (2009)

Some of the best sales executives infuse their sales tactics with metaphors (and teach their teams how to call on metaphors for better selling). This is particularly important for companies selling visionary solutions or complex technologies that are difficult to articulate, as well as to cut through the noise of content overload online. In four steps, this book teaches readers how to “weave the magic of metaphor into your business arguments to sell an idea, clear up confusion, shake up indifference, close a sale, vaporize objections, wow an audience, inspire action and make your point.” This is an entertaining read, with over 250 real-world examples, opening with the “Sorry Seven” — the seven types of speakers who put even the most willing listeners to sleep.

“Metaphors are communication home runs. This book shows you how to hit them.” CHICAGO TRIBUNE

16. RFPs Suck! RFPs Suck

How to Master the RFP System Once and for All to Win Big Business

by Tom Searcy  (2009)

In industries where RFPs are a required component of dealflow, new sales executives should read this book for ideal strategies and tactics to contend with the RFP world. It teaches how to navigate the time-consuming, expensive, and often unfairly balanced RFP process — as well as advice on when to quit or to double down and win the deal.

“This is the first book I’ve seen on this grossly overlooked topic and it’s definitely a winner. Smaller firms hoping to land large corporate customers will find the most value, but even sellers from big companies will learn new tricks. In short, you’ll discover how to qualify, divide and conquer RFPs that make the most sense for your company.”— Jill Konrath, Author, Selling to Big Companies

17. Strategic Sales PresentationsStrategic Sales Presentations

by Jack Malcolm (2012)

Presentations to senior decision makers are high stakes: sales teams have a clear shot to win, but if they fail, they’ll be sent home quickly. Malcolm presents an end-to-end guide for creating and delivering world-class pitch presentations to high-level prospects. It covers with planning and positioning, presentation crafting, and delivery for 30- to 60-minute pitches.

“This book will transform any salesperson into a strategic salesperson and the more strategic you are, the higher value you sell.” — Nancy Duarte, CEO, Duarte, Inc. award winning author of slide:ology and Resonate

18. The Truth About LeadsThe Truth About Leads

by Dan McDade (2011)

A successful VP Sales knows how to work closely with the heads of marketing and demand generation in their company to create a full pipeline of highly qualified leads. Dan McDade, CEO of PointClear, provides a guide to excellent B2B lead generation. The Truth About Leads a must-read for sales executives who are new to the lead generation world or want to solidify their foundation to prospect development as they scale their business.

19. Aligning Strategy & Sales 

The Choices, Systems, and Behaviors that Drive Effective Selling

by Frank Cespedes (2014)Aligning Strategy and Sales

Harvard Business School professor Frank Cespedes helps executives close the gap between its strategy and sales efforts. The book provides new research, examples, and an actionable framework to show how sales fits in the broader context of the rest of the business and how it affects value creation for the customer.

“Frank Cespedes has brilliantly captured why aligning strategy and sales is so darn difficult. He walks you through the alignment process in a methodical yet witty manner, reminding you of the nitty-gritty intricacies that will provide the wind in the sails of your strategy. This book should be required reading for all senior executives and sales managers.” — Jeanne O’Kelley, cofounder and CEO, Blueprint Technologies

20. Dealstorming

The Secret Weapon That Can Solve Your Toughest Sales ChallengesDealstorming

by Tim Sanders (2016)

Tim Sanders argues that “sales genius is a team sport,” and puts forth a structured, scalable, and repeatable brainstorming-type process called “Dealstorming” to problem-solve complex sales deadlocks. It involves everyone who touches a sale (especially those outside of sales teams) and taps into the team’s wisdom and creativity to generate truly innovative ideas, with success at companies like Yahoo! and Condé Nast. This recent release is a good read for a VP Sales who needs to get a lucrative and complex deal unstuck by collaborating with cross-functional teammates.

21. How to Win Friends and Influence People

by Dale Carnegie (1937 original, 2016 new edition)How to Win Friends and Influence People

We all saw this one coming. How to Win Friends and Influence People is a 1937 classic that remains one of the most widely-read self-help books in the world. It takes on new meaning for a VP Sales, who now has to collaborate with a new set of executive counterparts in marketing, product, and engineering (and has to manage people — who might have once been their peers, in the case of an internal promotion). The publishers recently released a new edition with some updates; the core of the book remains applicable to this day.
“It changed my life.” — Warren Buffet

Land bigger sales at bigger companies (and sell to the C-suite)

These are must-reads for the VP Sales whose company’s growth strategy includes closing larger deals with larger companies.

22. Selling to Big Companies 

by Jill Konrath (2012)

Jill Konrath focuses on how to get your foot in the door with larger enterprises in “Selling to Big Companies.” It covers how to target the prospects where sales teams have the highest chances of success, find the right names, get a meeting with a corporate decision maker, create value propositions that catch their eye, and more. This book is one of Fortune Magazine’s 8 must-read sales books and a Gold Selling to Big CompaniesMedal Winner of the Sales Book Awards.

“This book takes the mystery out of selling to these corporate behemoths. Read it to shorten your sales cycle and avoid the many traps that can derail your sales efforts.”—Gerhard Gschwandtner, Founder and Publisher, Selling Power

 

23. Whale Hunting

How to Land Big Sales and Transform Your Company

by Tom Searcy & Barbara Smith (2008)Whale Hunting

This book is for the VP Sales who plans to grow their business by going after larger enterprises and contracts. As the authors put it, “Stop wasting time with little accounts and start landing monster accounts.” While many books focus on the individual salesperson, this one focuses on collaboration and teamwork. It provides a nine-step method to find and land big deals, and is particularly useful for answering higher-tier RFPs. (No whales were harmed in the writing of this book.)

24. The Key to the C-Suite 

What You Need to Know to Sell Successfully to Top Executives

by Michael Nick (2011)The Key to the C-Suite

Author Michael Nick argues that as budgets tighten, purchasing decisions land in the hands of the C-suite — and that sales teams need speak their language. This requires gathering a specific type of advance intel and crystallizing the value proposition in a way that high-level decision makers can understand. It is more practical and tactical than most, teaching how to:

      • Find key financial information on a prospect
      • Determine a corporation’s financial stability
      • Clearly define the value of the product or service they are selling
      • Calculate the value impact of their offerings in financial metrics
      • Clarifying how sales packages fit into metrics such as return on asset, return on equity, operating costs, net profit, and earnings

25. Selling to the C-Suite Selling to the C-Suite

What Every Executive Wants You to Know About Successfully Selling to the Top

by Dr. Stephen J. Bistritz and Nicholas A.C. Read (2009)

With 60 years of combined experience selling to corporations around the world, the authors conducted in-depth interviews with executive-level decision makers of more than 500 companies and government organizations to provide concepts and strategies that have been proven through repeated application. They demystify the executive’s role in the buying process — when they step in, and how they affect the deal. They cover how to gain access to executives, establish trust, and create value that resonates at the C-suite.

“If you’ve been in the sales business for a while, you’ll remember Steve’s fine work at Target Marketing Systems. This book really gets to the heart of the matter.  With no quick fixes or silver bullets, this book is serious about getting you into the C-Suite and keeping you there.” — Dave Stein, Sales Hiring Expert and author of “Beyond the Sales Process”

We hope you enjoy this reading list. Please leave a comment below with a book that has changed the way you think about your approach to sales, management, and helping your customers.

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Millennials and the B2B Sales Industry [Study]

Millennial Survey

By 2025, the vast majority of the workforce will be comprised of Generation Y, also known as the Millennials. In order to compete in today’s global economy, employers will need to have a comprehensive understanding of Millennials in the workplace.

That is why at Peak Sales Recruiting, we wanted to gain a better understanding of the Millennial generation’s perception of a B2B sales career and their overall career preferences. We wanted to understand whether or not they had any interest in a B2B sales career and why, what attracts millennials to a certain job, and their workplace preferences.

The 2016 Millennials in the Workplace: Transforming the B2B Sales Industry Study reveals the answers to these questions.

Here’s a few key insights. Get the complete report by filling out the form below.

Millennials’ Perception of a Career in B2B Sales

Perception

At the beginning of the survey, participants were asked to rate their perception a career in business-to-business (B2B) sales. The chart above reveals the majority of respondents had a positive view of a B2B sales career, however, an alarming 17% did not know what B2B sales was. To find out what respondents said needs to be done to improve a negative perception, download the full study below.

Millennials Who Would Consider a Career in B2B Sales

would-you-consider

As demonstrated in the pie chart above, the majority of respondents (62%) would consider a career in B2B sales. Following this question, respondents were asked to comment why they would or would not consider a career in B2B sales. The most common answers are revealed in the full study.

Millennials’ Top 5 Considerations When Choosing a Job

Top-5

Participants in the study were asked to rate 21 items from most important (5) to least important (1) when considering a job opportunity. Each answer was given a point value and the sum of those points were converted into a mean number. The chart above reveals the Millennials’ top 5 considerations when choosing a job.

Work Preferences: Communication, Location, and Motivators

Study participants were asked to indicate their workplace communication, location, and motivational preferences. The results revealed that Millennials are seeking employers who are prepared to forgo traditional workplace arrangements and change their day-to-day operational practices.

HERE’S INSTANT ACCESS TO THE STUDY

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How to Recruit Your Competitor’s Top Sales Talent

How To Poach Salespeople

Appeal to these salespeople’s insatiable drive to advance their career, differentiate your company, and embrace the domino effect.  

Your competitor’s top salespeople are grounded in industry knowledge, know the pain points your prospects have and what decision makers to target, and have a proven themselves to be successful in selling environments similar to yours. Undeniably, these rival reps are a strategic addition to a sales team, ensuring that a company’s sales force keeps a competitive edge in the market.

The same momentum that pushes these top reps and managers to surpass quotas motivates them to take on bigger and better career opportunities. To recruit them from a competitor (or ‘poach’), hiring managers need to appeal to these salespeople’s insatiable drive to advance their career.

Through a discrete recruitment process and conversations that emphasize career advancement opportunities at a rival company, hiring managers can lure these stellar salespeople to their teams.

Use A Discrete Recruitment Process

Although some company leaders believe that lateral recruitment is controversial, poaching a competitor’s employees is ethically sound and can be a smart business move. Just as companies compete for clients, they need to be prepared to compete for top salespeople too and realize that not doing so can do more damage than good.

Ultimately, an unspoken “gentleman’s agreement” between companies not to poach each other’s reps is a detriment to the industry. When salespeople achieve their quotas year-over-year, they expect companies to actively recruit them. Without healthy competition between companies to attract these top salespeople by offering bigger accounts, better compensation packages, and better career paths, it can undermine a salesperson’s motivation to exceed expectations. In the long term, these agreements do little to further sales numbers and company company growth. In fact, it can damage a sales force’s morale. Recruiting from rival companies, however, does require more discernment than the traditional hiring processes.

Recruiters and hiring managers need to ensure that they use discretion when bringing in new talent to mitigate the risk of alienating their company or sacrificing goodwill between friendly competitors. Using these three methods for starting the recruitment process can shape whether the outcome will, indeed, be a smart business move. Each has advantages and disadvantages, so explore every option before making the first move:

Make Direct Calls

Direct calls are the most straightforward but controversial approach to recruiting a rival’s salespeople. Although they’re efficient and transparent, this tactic can also start a recruiting war and increase tension within an industry.

Because many employers monitor in-office communication, best practice is to reach out to personal email accounts and phones rather than to work accounts. Hiring managers need to be sensitive to the fact that reps don’t want their employers to know they’re talking to a rival company.

Use Third Party Recruiters

Recruiters offer companies a healthy distance from the hiring process. Unlike the organizations they represent, third party recruiters have no unspoken pact that they won’t poach a competitor’s salespeople. The number one obligation for recruiters is to attract the most qualified, exceptional salespeople for their customers — it’s only natural that they would reach out to high-performers from competing employers.

Third party recruiters can also talk to reps about a job at another company while keeping their client’s name confidential. This extra step ensures that only interested and qualified candidates learn that the job is at a rival organization, removing extra controversy from the situation.

Ask for Referrals

Referrals are another way to add subtlety to the recruitment process. If hiring managers know the sales talent they would like to recruit, they can look for personal or professional connections on LinkedIn or Twitter. Sales and hiring managers also benefit from asking business partners, clients, or friends to connect them with reps at another company.

Similarly, casual conversations at conferences, trade firms, and social events can lay a positive foundation to create a candidate pipeline. Ideally, these friendly encounters take place in a neutral location, giving company leaders the opportunity to gauge interest while still using discretion.

Differentiate Your Company

To benefit from a competitive advantage in the labor market and successfully recruit reps from rival companies, hiring stakeholders need to be prepared to outmatch their competitors. From the first moment of contact, hiring managers must communicate the selling points of their company, emphasizing the opportunities for new reps.

As Bastian Bergmann summarized in the Harvard Business Review:

“You are trying to sell complete strangers on your idea and get them to leave well-paid, attractive jobs for something completely unknown. In order for the recruits to trust you, you have to master telling your story. Others will only follow you if you really leave them with the impression that you yourself are completely captivated by the opportunity you’re presenting.”

To make a convincing argument to a high-performing sales rep that a different team is a better place for their talent, focus on these four attributes:

Present Your Company as an Industry Leader

The prestige of working for an industry leader — as well as the resources and administrative support that accompany employment at these leading organizations — is a major motivator for salespeople to change jobs.

Hiring managers need to start by emphasizing their organization’s current rate of growth, record of success, and position in the industry. Although start-ups do not necessarily have the advantage of a being an industry leader, they can emphasize substantial funding and the support of high-profile advisors, and underscore how their solution is going to disrupt the market.
While speaking to a competitors salespeople, get specific about practical details such as the ease of access to administrative support and the opportunities to clinch high-profile sales at a company. These seemingly small attributes can motivate salespeople to make big changes.

Develop and Maintain a Strong Employer Brand

Ninety seven percent of sales professionals read online reviews about a company before they accept a job offer. An organization’s reputation as an employer, both online and among industry professioHow Many Candidates Look at Online Company Reviewsnals, is a significant part of attracting the best sales talent.

Develop a strong employer brand is more than just having a great online profile. The role of an organization’s culture play a major role in enticing happily employed, passive sales talent. We advocate for companies to bring attention to their on-boarding programs, the importance they place in maintaining their sales force’s work-life balance, and how they plan to invest in ongoing sales training and skills development programs.

Offer Market Leading Compensation

Top-performing salespeople know how much revenue they bring to a company, and they want to be compensated for their experience. To appeal to these star reps, offer generous compensation that surpasses competitors’. Here’s 6 compensation secrets that lead to great sales hires.

Research cited by Harvard Business School professor Doug J. Chung suggests that companies eliminate caps on commissions, which can be off-putting to top sales reps, and instead bolster overachievement commissions. When top salespeople at competing firms know that they’re rewarded for going above and beyond, they’re much more likely to switch organizations.

Provide Clear Advancement Opportunities

Craig Rosenberg, a co-founder at TOPO Inc., underscores how growth potential is a pivotal part of recruiting the best talent. “There are lots of salespeople and few managers so their internal growth opportunities are limited,” says Rosenberg. “I have met lots of salespeople who want to do a career change but then do the math on what they made with their biggest W2, and have trouble making the jump. That leaves them to try to advance, and in many cases, if they feel like they hit a wall, they have to jump.

When recruiters or hiring managers interview to top performers, they should inquire into a candidate’s long term goals and match these aspirations with opportunities at their organization. Offering a clear path to advancement can open an otherwise closed conversation for leading reps.

Minimize Legal Liability

Before recruiters and other hiring stakeholders start interviewing a candidate, they benefit from asking if a salesperson is bound by a non-compete clause. If reps are not bound by a restrictive clause, the process can move forward as planned.

If your ideal hire is bound by restrictive agreement, you may still be able to hire them.  As Attorney Oberman Thompson summarized in a paper for the Employment Law Institute:

“Very few job applicants for key positions show up without any competition restrictions.  Hiring employers are recognizing that they may be able to make the hire and still avoid extensive and expensive litigation costs and risks; or that they have to take some risks to make good hires.”

Companies that want to recruit these salespeople need to weigh the expected benefits and potential liability of these hires. With the help of their legal team and or a third-party employment lawyer, hiring managers can minimize the chances of litigation through an intentional strategy. For example, companies might be able to tighten the terms of the hire so the activities of the job do not directly compete with the prior employer. Other firms may choose to include a contingency clause that only offers the position if the rep can perform his or her duties.

If hiring managers want to completely avoid risk, they can take a more creative approach altogether. Instead of directly recruiting current reps of a rival, managers can research past employees who left the organization for better opportunities elsewhere. Since the average non-compete agreement lasts two years, sales reps who have been working at other companies for two or three years could be cleared of the restrictive agreement.

Embrace the Domino Effect

According to a survey from Glassdoor, 68 percent of salespeople plan on searching for a new job in the next year, and 45 percent plan on looking for another position in the next three months. These statistics mean that even the most successful and satisfied reps are open to better opportunities at other sales organizations — they’re likely to follow the leader to another company.

If recruiters can successfully hire a top salesperson from a competitor, they can also encourage peers to reevaluate their choices, sparking a chain reaction among reps that can provide a steady talent pipeline for months. When allocating resources toward recruitment, concentrate on recruiting the best-of-the-best with the intention of further motivating other top performers to switch to a new organization.

Poaching Your Competitor’s Top Sales Talent Can Be Fruitful

These three practices — showing discernment while recruiting a competitor’s top reps, differentiating a company as an employer, and minimizing liability — ensures that companies maintain a strategic talent advantage in the field. These tactics not only bolster sales teams, they give a company inroads into their competitors’ clients, leading to further revenue down the pipeline.
*Note: none of the statements made in this article should be considered as legal advice and all recruiting activities should remain within the boundaries of the law.

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Connect:

Eliot Burdett

CEO at Peak Sales Recruiting
Before Peak, Eliot spent more than 20 years building and leading companies, where he took the lead in recruiting and managing high performance sales teams. He co-founded Ventrada Systems (mobile applications) and GlobalX (e-commerce software). He was also Vice President of Sales for PointShot Wireless.

Eliot received his B. Comm. from Carleton University and has been honored as a Top 40 Under 40 Award winner.

He co-authored Sales Recruiting 2.0, How to Find Top Performing Sales People, Fast and provides regular insights on sales team management and hiring on the Peak Sales Recruiting Blog.

Connect:

The 6 Elements of an Effective Sales Onboarding Program

Sales Onboarding Process

Implementing a ‘pre-hire program’, being consistent, establishing a mentoring program, defining success, and creating a sales playbook reduces ramp time and sets new hires up for continued success.

No matter the size of an organization, hiring the right people and developing them so that they can achieve their true potential are arguably the most critical activities a business leader must undertake – after all you are only as good as the people you hire (thanks Ray Kroc). As a long time sales leader in Oracle, and now as a business owner, I have invested hundreds of hours in creating and executing recruiting strategies to attract and hire top talent. Unfortunately, I see new and experienced sales leaders alike make a common mistake when hiring. They neglect the need to implement and maintain a structured and rigorous onboarding program.

The true success of each new employee is largely determined by how well they are engaged and developed both in the short and long term, and an onboarding process provides the foundation in which this can be achieved. Unfortunately it is quite often the case that new sales professionals are not provided the platform or resources to be as successful as their potential suggests. Most often this is due to a lack of a structured engagement model and inconsistencies in commitment levels across the sales organization. However, with a defined training and onboarding strategy, including commitment from all lines of business, a great onboarding process can be implemented that decreases ramp time and enhances productivity.

The 2015 Inside Sales for SaaS report published by the Bridge Group, highlights that the average ramp time for new hires has increased over the last few years from 4.2 months to 5.3 months. When you consider that the research also notes the average tenure of individuals with 1-2 years prior experience is 26 months, 5 months ramp time is too long. The goal for sales leaders and front line managers is to enable and ramp new hires in the shortest period of time to ensure more consistent productivity and higher revenue generating activities.

To increase new rep productivity and decrease ramp up time, here are six key things that sales leaders need to know when developing their sales onboarding process.

1. Start the Onboarding Process Before Their First Day:

Once a candidate has passed through the interview and assessment process and has accepted your offer of employment, this can be the perfect time to start the onboarding process through a ‘pre-hire program’. A pre-hire program sets the stage for the rest of the onboarding regime by keeping the candidate engaged and motivated right up to ‘ day 1’ of their new career. Think customer experience for employees.

The pre-hire program is an opportunity to further highlight your company’s mission and value proposition for the new rep. This can be achieved through customer testimonials, pre-recorded earnings or all hands calls and office visits. The pre-hire phase can also be a great opportunity to introduce a new team member to a mentor, gamification platform or a private social group on LinkedIn to share ideas, ask questions, or get to know their new peers if there are multiple new hires starting at the same time. Since these are not full-time team members just yet, hiring managers have to respect the new team member’s time and not inundate them with too much information.

Here’s helpful a list of proven sales onboarding tools.

2. Be Consistent:

“Has this experience been consistent with my expectations?” is a question new employees ask themselves throughout the career journey: from interview, to offer acceptance, to the first weeks on the team. One of the most effective ways to meet a new employee’s expectations occurs when your onboarding process is structured and consistent.

Consistency can be achieved through several vehicles, but starts with the business units that will interact with the new employee, and having them agree upon the onboarding process and how success will be measured. Once this is achieved, welcoming the new hire and setting expectations is key. One of the most effective and easiest ways my teams have used include providing the new team member with a welcome package that includes branded gifts and a welcome letter outlining what to expect in the coming days/weeks/months. In addition to providing the new salesperson with welcome package, we paired them with a proven mentor who personally welcomed the new hire and introduced them to the rest of their new team and key stakeholders on the salesforce. These are just a few activities that need to be completed to ensure consistency and leave new hires feeling excited about closing their first deal.

3. Establish a Formal Mentoring Program:

Instituting a formal mentor/protégé program is a great way to accelerate a new hire’s growth within any new role that they assume. In addition to welcoming the new hire on day 1, the mentor has a critical role to play in accelerating a new hire’s professional development. World-class sales organizations integrate the mentor into the formal onboarding process and use their expertise to help determine specific objectives that the new hire is expected within the first 30, 60, and 90 days, in addition to having them explain why the objectives need to be achieved.

The mentor’s job is to review and verify the new hire’s understanding of their objectives, and should meet with the hire’s direct manager either weekly or bi-weekly to ensure the new hire is transitioning well into the role. It is best practice to have the most tenured or successful member of the team be the designated mentor, but it is important to note how long it has been since they have been exposed to the current hiring process. Results might be better if the mentor is a recent hire who has excelled and is fully aware of the onboarding process that the new hire is about to experience.

“World-class sales organizations integrate the mentor into the formal onboarding process and use their expertise to help determine specific objectives that the new hire is expected within the first 30, 60, and 90 days, in addition to having them explain why the objectives need to be achieved.”

4. Define Success:

Define success criteria and share it early with the new hire. This will provide them further clarity and understanding of their role within the team and the broader organization. If there are situations where a new team member is unsure if they are performing well or meeting expectations, this will only lead to disengagement or lack of focus on the most important business metrics. It is essential that sales leaders ensure new hires have a sound understanding of the full sales cycle, including how marketing and sales/business development score leads, and the criteria that is used to evaluate a qualified opportunity. One of the biggest aspects that sales managers overlook when defining what success looks like to a new hire is how customer success is defined for specific products or services. New reps and BDRs need a high-level and detailed explanation of what success looks like at each level of the sales cycle, and this comes in the form of a ‘sales playbook’.

“One of the biggest aspects that sales managers overlook when defining what success looks like to a new hire is how customer success is defined for specific products or services.”

5. Create a Sales Playbook:

A sales playbook defines the attributes of ideal prospects and existing customers and provides the new team member with specific product knowledge, selling approaches and key selling activities that the organization’s top salespeople use to win accounts and how the new hire can replicate that success within their own territory.

An effective sales playbook provides a detailed understanding of each customer persona along with specific talking points that are proven to engage prospects in meaningful conversations about pain points and product/service solutions. Combined, this information and knowledge will allow the new team member to qualify/disqualify opportunities more efficiently and prioritize prospects that are willing and able to take action on a business challenge. Furthermore, a consistent, repeatable, and scalable sales approach produces greater forecast accuracy and provides new hires the tools required to penetrate accounts as quickly and effectively as possible during the initial ramp time.

6. Resource Management:

As technically savvy Millennials and Generation Zers will soon make up the majority of today’s workforce, sales technology and productivity tools will be cornerstones in every salesperson’s sales toolbox (they already should be). And with hundreds of technological options available for salespeople to engage more efficiently with prospects, the desire by many sales managers is to stack their teams and new hires with all of the latest innovations. Sales leaders need to approach these new technologies with caution though, since more tools does not necessarily equate success. Effective sales managers assess and prioritize tools and technologies that have the most impact and narrow their team’s focus to these only. Three tools which need to be present in a sales force’s technology stack are: CRM, email automation, and business development.

Capitalize on your new employee’s energy and enthusiasm to make their number.

Every new hire that joins your organization brings an undeniable amount of energy, enthusiasm, and an appetite to learn. By implementing a consistent approach to sales onboarding that happens from the moment the offer is accepted, the ability to engage, develop, grow, and retain top performers is increased ten-fold.

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The 8 Human Capital Metrics Every Sales Manager Needs to Track

Sales Human Capital Metrics

Salespeople are the engine of a great company. They identify new opportunities for growth and are tasked with driving profitable revenue streams that propels organizations to achieve success. To help assess the effectiveness of their sales force, sales executives need to dive into their human capital metrics.   

When viewed as pieces of a larger puzzle, core human capital metrics illuminate the complex workings of a sales organization and a team’s ability to achieve aggressive growth targets.

We focused on eight metrics that offer sales executives a bird’s eye view of the human aspect of sales. Analyzing this data helps provide sales leaders with the knowledge they need to build a better sales team that consistently drives higher rates of growth and organizational success.

Here are the human capital metrics every VP Sales needs to track:

1. Turnover Rates

Turnover rates reveal an organization’s ability to retain employees. If a company can’t keep their salespeople happy, they incur high costs associated with additional recruitment, poor performance and low morale. A recent Sales Effectiveness Survey from DePaul University revealed that the annual turnover rate for inside sales roles is 26.9 percent and 27.7 percent for outside sales roles, with a reported average cost per turnover at $97,690.

High voluntary turnover rates indicate larger issues at play such as below-average or poorly constructed compensation plans, or even a toxic sales culure. Leaders who experience consistently high voluntary turnover need to analyze feedback from employees in exit interviews. Candid conversations with departing sales reps are the quickest ways to discern the primary reasons for their departures.

High involuntary turnover rates, or a high percentage of reps being fired, indicate a poor sales hiring process. In 2015, The Bridge Group conducted a study surveying nearly 350 B2B SaaS companies and determined that the average sales rep involuntary turnover rate was 20% – making up nearly two-thirds of all annual attrition. This alarming statistic reveals a lack of structure in the B2B SaaS industry’s sales hiring process. World-class companies understand the substantial cost of a bad sales hire, and implement effective sales hiring processes to lower involuntary turnover rates.

Sales executives also benefit from examining turnover rates to find out what level of salesperson is leaving the company. Andris A. Zoltners, PK Sinha, and Sally E. Lorimer break down sales turnover into three categories: top performers, poor performers with high potential, or low performers with low potential. High performance sales organizations retain top performers and poor performers with potential. Below is a detailed diagnosis for transforming the turnover rate for three pools of employees:

Low Performers with Low Potential

A high turnover percentage among low performers with no potential to improve their sales performance points to problematic recruitment. While it’s important for sales leaders to quickly rid their teams of consistent under performers, effective sales leaders determine the root causes of their poor hiring practices.

Reassessing the characteristics of the ideal candidate profile and adopting a structured and rigorous recruiting processes is proven to reduce the risk of hiring bad salespeople. For more information on how to construct a structured and rigorous sales hiring process, download our eBook – Sales Recruiting 2.0

Low Performers with High Potential

Front-line sales managers are vital pieces that should be relied upon to help executives discern if a low-performing rep offers significant future potential based on performance reviews and the exemplified traits of the rep. The best method to increase retention among this category of salespeople is to bolster coaching and manager support during and after the onboarding process.

A structured schedule for the first three months of employment paired with a system of accountability for sales managers helps ensure sales team members are set up to reach their potential. HBR also recommends giving these salespeople “warm leads so that they can taste sales success, which is the ultimate motivator.” For more information on how to develop a structured onboarding process for new sales hires, download our eBook – The First 90 Days.

High Performers

High performers are a sales organization’s greatest asset — and biggest asset that can be lost. To reduce voluntary turnover among top performers, sales executives need to offer the rewards that high performers look for in competing companies: extra recognition, more freedom, better pay, long-term incentives, and a pro-sales culture.

2. Average Revenue Generated Per Rep

The average revenue generated per sales rep sheds light on two important aspects of a sales team — overall performance and the fairness of sales quotas. Ryan Tognazzini at Sales Benchmark Index suggests that if the average revenue is low, managers need to assess the strength of the sales pipeline. As he told Inc. Magazine, “It’s literally getting down into the weeds and understanding if the pipeline is real, and if there’s hope.”

If, however, the average revenue generated by each rep rises significantly above the sales quota, sales executives need to increase their benchmarks. Research from academic Steven W. Martin reveals that over 80 percent of high-performing sales organizations increase their quotas every year. Successful companies strike a balance by aiming for higher quotas that are still attainable to reps.

3. Actual Revenue Generated Per Rep

The revenue generated by individual reps gives managers a clear metric to assess the contributions of each salesperson and the achievement of the team as a whole. Research from The Tas Group indicates that two-thirds of all sales people miss their quotas, and 23 percent of surveyed companies don’t know if their teams are hitting quotas or not.

Acutal Revenue Generated Per Sales Rep - Peak Sales Recruiting

By contrast, the top 10 percent of firms surveyed by CSO Insights report that 75.1 percent of their reps either met or exceeded quota, achieving 116.7 percent of their company’s benchmark. The best sales leaders conduct an analysis to ensure that revenue generated aligns with specific revenue goals, such as new account acquisition or renewals.

The actual revenue generated per rep also indicates rep performance, giving managers important information about their contributions to a company. However, Fred Shilmover, CEO InsightSquared suggests that managers take a deeper approach to assessing the impact of this metric in From Impossible to Inevitable:

“Don’t be too quick to jump to conclusions and criticize or compliment anyone on the team right away. First look at their data to find out why and learn from it. A sales rep with highest consistent win rate may be talented at sales –– or talented at sandbagging/cherry picking. Don’t assume –– investigate.”

Sales executives can increase this metric by supporting individual performance with personalized talent development plans. Combined with heavy coaching, managers bridge skill gaps and radically impact the individual performance metrics of employees. This approach doesn’t mean that companies should keep bad hires, as research shows that top sales organizations cut chronic underperformers sooner rather than later.

4. Average Time to Hire

The average time it takes to hire a new employee from the original date of the job posting reflects both the competitiveness of the hiring market and the efficiency of a company’s recruitment process.

As baby boomers retire, the competition for top sales talent is steadily increasing. Bob Coughlin, a chief executive at Paycor, told The Wall Street Journal that a smaller sales talent pool meant his company missed out on $2 million more in 2015. Coughlin is not alone — the Harvard Business Review assessed that employers spent 41 days filling technical sales roles compared to 33 days for non-sales roles.

Average Time to Hire Sales People - Peak Sales Recruiting

Glassdoor also supports that estimate; their researchers calculated 40 days as the average time it takes to hire a salesperson. Our own data suggests that across 3 industries (technology, professional services and industrial and manufacturing), the average time to hire a passive sales person — those who are actively and gainfully employed — and in the top 10% of their team, is 95 days.

The nature of a company’s recruitment processes also affects the average time to hire. By standardizing the procedure and focusing on qualified candidates who have achieved their sales targets year-over-year in the same or similar selling environments, sales leaders can decrease this metric over time.

An effective sales hiring process includes the following key elements:

  1. Establish an agreement on how the position and company will be communicated to candidates
  2. Establish a hiring benchmark and build an ideal candidate profile that defines critical sales skills and traits required for success in the position
  3. Hunt for only qualified, top performing salespeople
  4. Implement a rigorous and structured interviewing and assessment process
    1. 1st interview – high level qualification
    2. 2nd interview – skills and experience screening
    3. 3rd interview – behavioral interview, role playing, & psychometric assessment
  5. Submit an offer to the candidate that is most likely to drive consistent, profitable revenue
  6. Implement a structured onboarding program that sets new hires up for success

For more details on a standardized hiring procedure, read Hiring Salespeople: A Core Process You Must Perfect.

5. Average Ramp-Up Time

Companies measure ramp-up time in a range of different ways. However, a universal approach is to assess the time it takes for a rep to start significantly adding to a company’s revenue stream. (Based on the organization, executives can choose the most relevant supporting metrics, such as meeting monthly or quarterly quotas.)

The Revenue Conductor found a simple way to shorten the duration of this period. Their research concluded that employers who were most satisfied with their onboarding process experienced 34 percent faster ramp-up time for new sales reps. With the average ramp-up time of 10 months for B2B salespeople, a well-planned onboarding process can make a huge impact.

Increase early productivity by creating a structured training program that immerses new hires in company protocol and best practices. These onboarding programs should include both ‘classroom’ and in the field training, as well as concrete 30, 60 and 90-day goals that give new salespeople stepping stones toward yearly targets.

For a comprehensive look at how to implement an effective onboarding process, download our eBook: The First 90 Days – Your Guide to Making New Sales Hires Produce Fast.

6. Average Time to First Sale

The average time before a rep’s first sale serves as a benchmark for new hires. To coach new reps toward this goal, start tracking early and mid-stage indicators such as appointment setting and proposal generation to help build their confidence.

The most efficient leaders decrease the average time to first sale by hiring top performers. With 22 to 30 percent of salespeople lacking the skills to succeed at their jobs, recruitment is essential to ensure a strong average time to first sale.

If business development reps (BDRs) or inside sale reps struggle to make their first sale, sales managers need to change their tactics. Effective sales leaders direct new reps toward low-hanging fruit, giving them the opportunity to practice and get comfortable on the job. The positive momentum acquired by closing smaller transactional sales builds toward more lucrative deals.

7. Average Time to Revenue

The time to revenue is the average number of days between the date HR posted a job and when the new salesperson is profitable for their company.

Average Time to Hire + Average Ramp-Up Time = Average Time to Revenue

According to Imparta, a top performing salesperson will generate their first revenue in less than 6 months, while an average salesperson will generate their first revenue in 9 months, and a below average salesperson will generate first revenue in 12 months or later, or will never generate profitable revenue.

Average Time to Sales Rep Revenue - Peak Sales Recruiting

If the time to revenue surpasses nine months, it could be due to a slow recruitment process or a long ramp-up time. Leaders should investigate which challenge their organization faces — an instinct-based & non-objective hiring process, disorganized or poorly implemented onboarding processes, and poor front-line managers all contribute to a prolonged average time to revenue.

Tackle the issue by collaborating with HR and recruiters to examine each aspect of the recruitment and onboarding protocol to find the weak link. Since hiring and onboarding practices influence sales productivity, executives need to align those efforts with their goals.

8. Percentage of New Hires Meeting Sales Quotas

The percentage of new hires meeting their sales quotas points to the early successes (or failures) of new reps. If reps are failing to meet or exceed their quotas, an organization is hiring the wrong people or failing to train them correctly.

Mark Roberge, Hubspot’s Chief Revenue Officer, focuses on the coachability of job candidates during interviews. This approach ensures that new or ‘junior’ reps bring growth potential to their jobs. With the right coaching, great hires can steadily improve their performance. By pairing this method with a repeatable, formal sales process, Hubspot magnifies the early successes of their team.

Tom Hopkins, Sales Trainer and Chairman at Tom Hopkins International Inc., says that the answer to get more new hires to meet and exceed sales quota is through collaborative training and proper goal setting. “Before the training even begins, it’s important to set goals with the news hires – not for them. Salespeople will work much harder at achieving goals they’ve been involved in setting, than if goals or quotas are set by the company or a manager.”

Human Capital Metrics Matter

Human capital metrics are an integral aspect of assessing the rigor of a sales organization’s recruitment process, the effectiveness of its onboarding programs and the ability of managers to bring out the best in new hires. By tracking these statistics every quarter, sales executives gain a thorough understanding of what talent acquisition and retention methods are working — and what’s not working — within their organization.

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Eliot Burdett

CEO at Peak Sales Recruiting
Before Peak, Eliot spent more than 20 years building and leading companies, where he took the lead in recruiting and managing high performance sales teams. He co-founded Ventrada Systems (mobile applications) and GlobalX (e-commerce software). He was also Vice President of Sales for PointShot Wireless.

Eliot received his B. Comm. from Carleton University and has been honored as a Top 40 Under 40 Award winner.

He co-authored Sales Recruiting 2.0, How to Find Top Performing Sales People, Fast and provides regular insights on sales team management and hiring on the Peak Sales Recruiting Blog.

Connect:

What Every Great VP Sales Wants in a Job

Vice President of Sales Job Criteria

The ability to recruit, coach, and develop effective sales teams; have a relentless pursuit of key strategic goals; and posses a long track record of high integrity transactions with peers, customers, and partners are all traits employers look for in their next (or first) VP Sales. But in order to attract and hire a great VP Sales and outpace competitors who vie for the same stellar candidates, employers need to understand the job traits that a VP Sales values most when evaluating prospective employers.

Why? Great VPs of Sales – those who consistently lead their teams to achieve aggressive growth targets – are happily employed and understand that they are the most highly coveted salespeople on the market, so they won’t consider making a move to a new employer unless the perfect opportunity comes their way.

So, what job traits do great VP Sales value the most when considering a new career opportunity?

In no particular order, here are the 10 job traits every VP sales considers when evaluating a career opportunity from a prospective employer:

1. An offering they believe in

If an executive decides to join a new company, it’s because they believe in what the company is selling. World-class employers understand this, and, when sales recruiting, clearly detail to candidates how their offering fills a need in the market, has an excellent market reputation, and will continue to solve complex business problems today and into the future.

2. A compensation plan that is above market

The number one thing all salespeople consider when evaluating an employment opportunity is compensation. A typical VP Sales compensation package will be comprised of a six-figure base salary plus additional incentives, such as equity, stock options, and bonus plans.

  • Base Pay – A VP Sales expects to have the highest base salary on the sales team because of the functions they perform. Base salaries for the position, regardless of company size, industry, or location, start at $100k, with an average base salary of $124,193.
  • Commission – A VP Sales expects commissions and bonuses to equal about 30% of their total compensation package.
  • Equity and Stock Options – If the company is private, a VP Sales will expect equity, especially if the company is a startup and does not have the capital to offer a base salary that is at or above market.

No VP of Sales is going to consider a job that doesn’t have a lot of financial potential, whether that comes through a traditional commission structure or substantial equity.

A VP of Sales wants to make money and wants to make a lot of money on their stock. They want to make coin. Anyone that’s good is not going to join your company at $5,000 or $20,000 MRR a month, it’s just not going to happen.” – Jason Lempkin – CEO Echosign.

3. Colleagues who share their vision

If a VP doesn’t respect (or like) their colleagues, or if their colleagues don’t respect their strategic vision or management approach, it’s going to be difficult for them to be effective. When a VP is assessing a new opportunity, they want to know who they’ll be working with on a day-to-day basis. They want colleagues who will execute their vision, as well as a leadership team that supports their strategic philosophy.

4. A company that understands its corporate objectives

Every company needs a corporate strategy to succeed in today’s marketplace. A good corporate strategy determines where resources are allocated, how the competition stacks up, what markets to compete in, and what advantages the company has in order to meet their growth targets.

When a VP considers a new role, he or she wants to see that the leadership has outlined clear goals and needs for the business, and that they’re committed to helping the VP execute their sales strategy.

Whether the company is an early-stage startup that requires the VP to create a sales process, or is an established business that needs a VP revamp existing processes, the VP Sales wants to join a company that understands their corporate strengths, weaknesses, and growth objectives.

5. Opportunities for growth and change

Great salespeople will only join a company that offers growth, change, and the ability to rise within the organization. In fact, one in three employees leave their jobs because of a lack of career growth.

When a VP of Sales assesses a new opportunity, they want to know if the company is private and going public, or if there is an opportunity to move into a C-level position. They assess the role beyond the moment, looking to the future to see how they’ll be able to grow within the organization. Specifically, they will want to know if there is the opportunity to become the VP over a larger territory, or move into an Executive VP, Global VP, or President role.

6. Ability and autonomy to solve challenges and provide real value

When assessing a new position, a VP wants more than just a large paycheck and a great product. They want to know that their future employer will give them the autonomy necessary to make significant changes and solve critical problems that will drive selling costs down and revenue up.

At the VP level, autonomy is extremely important. VPs want to have complete P&L control over their region and staff. If they feel the leadership team will micromanage and try to direct their every move, they will pass on the position, regardless of the compensation or room for growth offered.

“A Sales VP won’t be content if they’re not able to provide value to an organization. The best VPs want to be confronted with challenges they’re excited to solve.” – Brent Thomson, CSO, Peak Sales Recruiting.

7. A proven leadership team

When a VP Sales is assessing a prospective employer, they want to know everything about its corporate leadership team including:

  • Who is on the existing management team
  • The structure of the management team
  • The background of the management team
  • How much autonomy the management team intends to provide the candidate

Sales VPs also want to know that they will have the ability to learn from other proven executives who possess unique business experiences and who value their perspective on how to achieve aggressive growth targets.  

8. Organization stage

When a VP is considering joining a company, they want to know what stage the business is in.

Is the organization in the compete stage, where there is a deep need to build and grow a new sales team, or is the organization in the maintain stage, when there is an established sales force, but a need to continue to grow revenue without adding headcount?  

Why does organization stage matter to a VP? Running a medium-sized $50 million sales department requires a much different skill set than leading a large billion-dollar sales organization.

When a VP Sales is assessing a new opportunity, they want to understand the challenge they’ll be faced with and if their experiences and skills sets will help them be successful. Will they need to come in and build out a sales team, or overhaul an existing process? The best VPs enjoy a challenge, are intrigued by the possibilities, and will join a company if they feel they can make a difference.

9. An ethical approach to selling

There are some sales teams that will do virtually anything to make a sale, and there are others who work to make ethical choices about selling.

Unethical sales practices damage sales numbers, and repels salespeople from joining the team. These unethical practices include executives and reps making promises about product developments that cannot be fulfilled, misrepresenting products or promotions to close deals, and not being transparent about price changes.

When a VP sales is scouting a new opportunity, they look carefully at the company’s sales philosophy and ask the following questions:

  • Are the target numbers realistic?
  • Are the sales methods ethical?
  • Are the sales practices and approaches something I’m comfortable with?

10. Being set-up for success

If an organization doesn’t offer the best tools, infrastructure, and budget to its sales team, it won’t be very attractive to an established VP Sales. In order for VPs to be successful, they need the organization behind them, and want the right tools and processes to make their sales goals a reality.

For a list of the top sales management tools, read our Sales Management Tools Study results.

Job Traits for VP Sales

Proven VPs are highly sought-after by employers. In order for them to accept a new role, they must feel that the new opportunity provides the challenges, products, leadership and compensation that they need to be successful.

 

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Eliot Burdett

CEO at Peak Sales Recruiting
Before Peak, Eliot spent more than 20 years building and leading companies, where he took the lead in recruiting and managing high performance sales teams. He co-founded Ventrada Systems (mobile applications) and GlobalX (e-commerce software). He was also Vice President of Sales for PointShot Wireless.

Eliot received his B. Comm. from Carleton University and has been honored as a Top 40 Under 40 Award winner.

He co-authored Sales Recruiting 2.0, How to Find Top Performing Sales People, Fast and provides regular insights on sales team management and hiring on the Peak Sales Recruiting Blog.

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Using Data to Power Sales Team Productivity

Data and Sales Team Productivity

A sales process that maximizes the productivity of sales reps is the goal of every sales leader. To achieve that goal, the most successful sales leaders have turned to data – harnessing the power of analytics to get the insights and know-how to engage with prospects more effectively, improve processes, and increase rep efficiency.

Research shows that 57% of high-performance sales teams rely on sales analytics, compared to 16% of their underperforming counterparts. Further, Aberdeen Group reports that organizations using sales engagement analytics have a 36% higher lead conversion rate, as well as an 18% shorter sales cycle.

Analytics deliver integrated visibility across the sales cycle giving you a complete view into every stage. Every metric, from prospecting to lead acceptance to customer retention, increases when intelligent sales analytics are deployed.

Here are four key ways that data helps supercharge the sales process:

1. Identifying the most interested prospects

Data can show you which prospects are the most engaged, so that you can quickly identify the best opportunities. Because the first seller to fulfill the buyer’s vision has a 65% greater chance of getting a deal, this capability is critical for your team.

Also, it’s just as important to ‘get to a no’ quickly. It’s estimated that up to half of a sales team’s selling time is wasted on unproductive prospecting. As Sally Duby, recognized sales expert and GM for The Bridge Group, points out, “The faster that you can move on from someone who isn’t going to do business with you, the better.”

By quickly filtering poor leads from the good ones, engagement analytics help prioritize prospects – so your reps can prioritize their time, focus on the most promising opportunities, and simplify their follow-up.

2. Understanding the best approach to take

According to the Harvard Business Review, managers who make decisions using best practices achieve their expected result 90% of the time.

Prescriptive analytics help you identify the best practices and understand the right course of action. Data can show, for example, which email templates are getting the highest open and response rates and which pieces of content or collateral resonate the most with prospects.

With insight into what type of activities and what activity levels work best, you can scale best practices across your organization.

3. Measuring and monitoring to manage opportunities

The next key to productivity involves continuously seeking new ways to measure, manage, and improve how your team manages leads and opportunities. Consider the flow of touch points your sales reps rely upon to reel in their prospects. Email. Call. Email Again. Or should it be call, email, call again? Because it can take an average of nine touch points to engage with a prospect, the volume of such outreach, and the order of interactions, can have a dramatic impact on whether prospects actually become customers. And today, those analytics are available with the click of a cursor.

Tracking, measuring, and reporting on every conversion helps sales leaders ensure the team is optimizing interactions at every stage. Data also helps you identify how much prospecting is required to meet your goals. How many leads does it take to close a single deal? Ten deals? 100 deals? In politics, they call such intricate calculations a ground game. The ground game of your sales team is driven by data. Only by measuring data can you see what’s working and what’s not.

Engagement analytics can show:

  • How much time reps spent emailing to prospects
  • Which rep has the highest – and lowest – number of responses
  • Which campaign got the highest engagement

Analytics also show you the likelihood of reps making their number – before the end of the quarter. If a rep says a deal is going to close, but you can see that the customer engagement data isn’t there to support that claim, it’s a red flag. By seeing your reps’ engagement, you can also identify areas where adjustments to their selling approach need to be made before it’s too late to make a difference.

4. Improving team performance

Data is also a powerful ally when it comes to maximizing the performance of new members of the sales team. Think about it, how much faster would talent onboarding be if managers had access to data that highlighted what onboarding techniques were most likely to reduce rep ramp-up time? Every aspect of training reps for maximum success starts with data flow. With a firm grasp on the tactical nuances of prospecting, engaging and closing, sales leaders can efficiently lay out the path to success—even providing proven scripts that new salespeople can use.

The time-savings enjoyed by sales leaders right from the start of training in turn fuels better coaching at every stage. No longer are leaders managing based on a hunch or by simply observing the body language of their reps. Instead, actual data provides sales managers a detailed roadmap that highlights where reps need to improve and where their strengths may lay.

More than ever, information is power.

Today, salespeople must engage deeply with current customers, leverage a variety of touch points, provide insightful follow-up based on insights, all while prospecting for new customers. In other words, productivity requires doing the highest-quality work at the fastest possible pace—or risking losing the sale.

Having access to powerful data gives sales leaders the hard facts and helps illuminate the right path to follow. With data, your team can know where their time is worth spending, and how to effectively sell to the top prospects.

If you’d like to quantify matters in potential hours saved and dollars earned, LiveHive offers a complimentary ROI calculator that prompts you for specifics about your organization and calculates the time-savings and increased revenue possible with an open, extensible sales acceleration platform. Answer the questions. Crunch the numbers. Then formulate your own strategy to power your pipeline. Data will undoubtedly provide the rocket fuel.

Salesforce.com estimates that the use of sales engagement tools will see a 65 percent growth rate in the coming year. Don’t fall behind. Leverage analytics now to power productivity and build the sales team of your dreams.

 

Suresh Balasubramanian is CEO for LiveHive, Inc.,  whose open, extensible sales acceleration platform empowers sales leaders with insights into the effectiveness of their team’s sales efforts. Suresh is a seasoned software industry executive with more than 20 years of operations and senior management experience. Before LiveHive, Suresh served as CEO for Armor5, and GM worldwide at Adobe Software. You can reach Suresh at ceo@livehive.com and follow @LiveHive.

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