CEO Insights: Anticipated Selling Trends for 2020
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These tips will teach effective leaders about strong sales enablement strategies, sales culture, sales execution, and how they can create competitive advantages by improving their analytics.
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CEO Insights: Anticipated Selling Trends for 2020
- 1. CEO INSIGHTS: ANTICIPATED SELLINGTRENDS FOR 2020 BRIEF Copyright © 2020 Richardson. All rights reserved.
- 2. Richardson sees 2020 as a year when the balance between culture and analytics will be critical for the success of selling organizations. Effective leaders will find this balance by creating a culture of learning and skill development while using analytics to give shape and structure to an increasingly complex pursuit process. Copyright © 2020 Richardson. All rights reserved.
- 3. STRONG SALES ENABLEMENT STRATEGIESWILL RISE FROM STRONG CONTENT Copyright © 2020 Richardson. All rights reserved.
- 4. Sales enablement is critical in an industry that requires sales professionals to know more and do more than ever before. Effective enablement teams help sales professionals reach these elevated expectations. However, even the most proactive sales enablement team cannot be effective without the right assets.To be effective, sales enablement teams will need to create assets that empower the sales professionals to: Copyright © 2020 Richardson. All rights reserved.
- 5. As the customer’s understanding of the business challenge evolves, they will have more questions. Enablement teams need to anticipate these questions and offer proactive answers that equip sales professionals to share a perspective and a point of view to shape customer thinking. The sales professional’s dialogue with a stakeholder doesn’t always represent the buyer’s complete perspective. These outward conversations might contrast the hidden conversations among all other stakeholders behind closed doors. Slowed momentum kills deals. Moving the process forward means sustaining the “case for change.” Sales professionals can maintain momentum by underscoring the solution’s value and the effectiveness other businesses have seen with implementation. 31 2 DRIVETHE CUSTOMER’S MOMENTUM BECOME MORE AGILE Copyright © 2020 Richardson. All rights reserved. GET INVOLVED IN THE “HIDDEN DIALOGUES” STRONG SALES ENABLEMENT STRATEGIESWILL RISE FROM STRONG CONTENT
- 6. IMPROVED ANALYTICSWILL CREATE COMPETITIVE ADVANTAGES Copyright © 2020 Richardson. All rights reserved.
- 7. Effective leaders will intensify their focus on the measurability of sales training. Measurement is increasingly important given that the average annual sales training spending per person has reached $2,326, according to the Association for Talent Development. Analytics, however, are more than a way to verify outcomes at the end of training. Selling organizations will drive competitive advantage through improved analytics in three ways: Copyright © 2020 Richardson. All rights reserved.
- 8. IMPROVED ANALYTICSWILL CREATE COMPETITIVEADVANTAGES Engagement: A company can get an overview of engagement by looking at the percentage of the addressable population that is engaged in training. 1 Experience: A good learner experience matters because it drives adoption of skills and ultimately better outcomes.2 Effect: There are several ways to measure effect.The Kirkpatrick model evaluates training effectiveness across four levels: engagement, knowledge retention, behavior change, and business results. 3 Copyright © 2020 Richardson. All rights reserved.
- 9. THE ROLE OF AI IN SALESWILL COME INTO FOCUS Copyright © 2020 Richardson. All rights reserved.
- 10. A Deloitte survey of 1,500 senior executives in the US revealed that 87% of respondents believe that AI is either “important” or “very important” to product and service offerings. Findings like this make it clear thatAI continues to have a growing influence in business. Copyright © 2020 Richardson. All rights reserved.
- 11. What remains unclear for many is how AI will be meaningfully adopted by the sales organization. Richardson believes that developments in AI will empower sales professionals in three ways: Copyright © 2020 Richardson. All rights reserved.
- 12. AI Will Optimize the Consistency of the Pursuit Process: AI will be instrumental in the effort to bring a uniform selling methodology to the organization. Leaders will discover how AI can overlay a framework onto each opportunity to ensure that sales professionals follow a specific communication cadence designed to match the maturity of the deal. AI Can Improve Pursuit Decisions: Effective AI solutions will provide a more accurate “strength of sale” assessments. This information will give sales professionals a clearer read on deal qualification based on observable buyer behavior. AI Can Improve Forecasting: AI will distill meaning from previously unharvested data. The relationship between the selling organization’s data and the quality of AI will become apparent as forecasting becomes more accurate. THE ROLE OF AI IN SALESWILL COME INTO FOCUS Copyright © 2020 Richardson. All rights reserved.
- 13. THE SALES CULTUREWILL ENCOMPASS AWIDER RANGE OF FACTORS Copyright © 2020 Richardson. All rights reserved.
- 14. The factors representing the sales culture will increase as solutions become more complex. People, processes, tools, technology, and content will all shape the culture of the selling organization. As a result, it will be the sales leader’s responsibility to unite these parts into a cohesive whole. Copyright © 2020 Richardson. All rights reserved.
- 15. THE SALES CULTUREWILL ENCOMPASSAWIDER RANGE OF FACTORS Share the Methodology during Onboarding: Early exposure to a shared methodology defines the way in which the organization wants to show up in front of customers. 1 Coach to a Consistent Framework: Building consistency into coaching means ensuring that all leaders are coaching to the same principles.They must all agree to convey the same message and support the same sales language. 2 Build a Sustainment Plan: Leaders need a clear, actionable, and measurable sustainment plan.This plan should include specific like regular intervals for checking that the sales team is aligned to one approach. 3 Copyright © 2020 Richardson. All rights reserved.
- 16. EFFECTIVE LEADERSWILLTURN SALES STRATEGY INTO SALES EXECUTION Copyright © 2020 Richardson. All rights reserved.
- 17. Leaders will find ways to translate their strategies into executable plans.They will convert ideas and plans into processes and methodologies. Bridging this divide will mean adopting a more intentional mindset. Leaders can do so by committing to three practices: Copyright © 2020 Richardson. All rights reserved.
- 18. Connecting strategy to execution require coaching. Leaders will need to constantly keep processes in line with the organizations’ strategies. Leaders can elevate service to meet the wider scope of customer needs. Service professionals have unique access to customers. Even information learned on a service call reveals customer details that are more personal than any survey or study. Organizations will also benefit from prioritizing long-term measurements. A long-term measurement framework is what sustains focus on the future. 31 2 PRIORITIZE LONG-TERM MEASUREMENTS FOSTER A CULTURE OF COACHING Copyright © 2020 Richardson. All rights reserved. ELEVATETHE SERVICE PROFESSIONAL’S ROLE EFFECTIVE LEADERSWILLTURN SALES STRATEGY INTO SALES EXECUTION
- 19. 1 2 3 4 5 Copyright © 2020 Richardson. All rights reserved. THE PICTURE IN FULL Success in 2020 belongs to selling organizations that can balance culture and analytics. Making this link means doing a few key things well: Leaders must be able to drive sales enablement efficacy by building an improved set of information, tools, and content. Selling organizations must leverage analytics to incrementally improve the experience, engagement, and effect of skill development. Converting sales strategy to sales execution will require finding new ways to leverage existing skills via the service professional’s role, measurements, and coaching. Sustainment, coaching, and onboarding must become major focal points in the drive to build a better culture. Forward-thinking leaders must leverage AI to bring a structured methodology to complex pursuits while finding new value in untapped data.
- 20. company/richardson/ https://www.richardson.com/blog/ www.richardson.com US: 215-940-9255 EMEA: +44 (0) 20 7917 1806 APAC: +61 (0) 8 8376 1667 info@richardson.com LET’S GET IN TOUCH Click here to Download the full Brief Copyright © 2020 Richardson. All rights reserved.
- 21. About Richardson Richardson is a global sales training and performance improvement company focused on helping you drive revenue and grow long-term customer relationships.Our market proven sales and coaching methodology combined with our active learning approach ensures your sales teams learn, master, and apply new behaviors when and where they matter most - in front of the buyer. Get to know us and learn about how we help drive the world’s most inspiring sales organizations to their next level of excellence. 21 John Elsey, President and CEO “As the President and CEO of Richardson and SPI Sales Training, I have the pleasure of working with the world’s top sales leaders. In doing so, I have the opportunity to get a rare preview into the challenges they anticipate facing in the coming years.” Copyright © 2020 Richardson. All rights reserved.
- 22. THANK YOU Copyright © 2020 Richardson. All rights reserved.
Notes de l'éditeur
- Strategic Account Planning in your organization should be a simple, yet powerful and repeatable process that facilitates three critical things: – First, it helps you identify the appropriate information you need to make the best decisions to develop strategies that allow you to maximize the relationship. It enables you to organize what you know and understand and highlight what you don’t know so you can gain critical information and make the best decisions on actions to take. – Second, it gives you a format for capturing and leveraging that information for your strategic customers. It provides an organized way to capture the critical information necessary to make good decisions in order to have the greatest impact on achieving your revenue objectives. If you don’t have a place to capture the information and then easily use it to make decisions, it’s not much different than not having the information at all. People who are disorganized often miss some simple and obvious steps that have a dramatic impact on their relationships and the achievement of their goals. – Third, it gives you a way to analyze that information for the purposes of creating goals, objectives, strategies, and a tactical action plan that, when executed, helps you achieve your overall goal in a specified time frame.
- LINA: clean up to look good. Early Stages: Build relationships with all stakeholders Understand business and individual needs Gauge interest, comfort level, agreement, and alignment Assess the power structure Share insight about the issue and stakeholder needs and perspectives to clarify thinking and align perspectives Float ideas to gauge reaction and foster buy-in Uncover perceptions of risk and share perspective on how to mitigate risk Middle: Synthesize the different perspectives and needs into one cohesive case-for-change storyline Share insight about the issue, stakeholder needs, and solution options to clarify thinking and align perspectives Reinforce common ground Uncover and understand points of stakeholder misalignment Share perspective and ideas to meet all needs Develop, adjust, and refine the solution based on evolving requirements Address concerns over risk Later: Reinforce common ground Address areas of misalignment Resolve late-stage concerns and reinforce personal value Highlight the risk of no change and delay in decision to drive momentum
- Strategic Account Planning in your organization should be a simple, yet powerful and repeatable process that facilitates three critical things: – First, it helps you identify the appropriate information you need to make the best decisions to develop strategies that allow you to maximize the relationship. It enables you to organize what you know and understand and highlight what you don’t know so you can gain critical information and make the best decisions on actions to take. – Second, it gives you a format for capturing and leveraging that information for your strategic customers. It provides an organized way to capture the critical information necessary to make good decisions in order to have the greatest impact on achieving your revenue objectives. If you don’t have a place to capture the information and then easily use it to make decisions, it’s not much different than not having the information at all. People who are disorganized often miss some simple and obvious steps that have a dramatic impact on their relationships and the achievement of their goals. – Third, it gives you a way to analyze that information for the purposes of creating goals, objectives, strategies, and a tactical action plan that, when executed, helps you achieve your overall goal in a specified time frame.
- Set Expectations: SET EXPECTATIONS Communication is critical. Sales professionals need to know that sustainment is a priority for the leadership. These expectations should be expressed in clear, actionable language containing no ambiguity. Additionally, leaders should underscore the urgency of the expectations by expressing them in the right medium. That is, they should conduct a meeting in which all expectations are outlined in person. If the selling organization is distributed geographically and an in-person meeting is not possible, then leaders should share expectations via video. The key is to avoid easily dismissed messaging like emails or a short memo. Just as sales professionals are expected to sustain skills, leaders should be expected to sustain communication by reinforcing expectations consistently. One announcement is not enough. Achieving this critical first step immediately places leaders ahead of the competition, given that “only about half of employees strongly agree that they know what is expected of them at work,” according to research from Gallup. CONNECT SKILLS TO CHALLENGES Skill training often unfolds in the controlled environment of a classroom. Scenarios are clearly defined, and outcomes are hypothetical. Converting learned selling skills to the real world is more challenging. Leaders need to help sales professionals bridge the gap between the classroom and the real world by encouraging skill adoption immediately after training when it’s still fresh. When sales professionals see the effectiveness of the skills in real selling situations, they’re more likely to continue using them. In other words, skill effectiveness gives sales professionals agency, and agency underpins sustainment. To connect skills to real selling challenges, leaders should also encourage sales professionals to “post-game” each sale, whether successful or not, and reflect on lessons learned. Consider Harvard research findings showing that “reflection has an effect on both self-efficacy and task understanding.” PREVENT RELAPSE Change takes time, and most of us are impatient. If people don’t feel like they are making progress with the new behaviors, they are much more likely to return to their pre-training behaviors. It is important to break up behavior change into incremental steps so that people feel that they are making progress. In addition, success, even partial success, is important so that people feel the benefits of putting in the effort to master the new knowledge and skills. Many sales professionals have habits that are counter to the new skills. Leaders can help them overcome this problem by using the old habits as a trigger for the new ones. As Charles Duhigg, author of The Power of Habit explains, “the Golden Rule of Habit Change: you can’t extinguish a bad habit, you can only change it.” CREATE ACCOUNTABILITY Hold people accountable for their behavior change. Doing so helps people to take personal ownership of change management. Without accountability, sustainment can feel like a “top-down” approach in which sales professionals take directives from leaders. This approach puts distance between the sales professional and the outcomes of their work. Sustainment requires sales professionals to see the connection between their efforts and results. Create this setting by communicating that each person is responsible for sustained skill adoption. At the same time, remind employees that the leaders represent a support structure and resource. Accountability is a routine; it must be perpetual and underpinned by direct feedback. Employees need to know where they stand. Honest communication is important because it ensures that the employee’s understanding of expectations matches those of the leadership. Finally, accountability requires measurement. Both leaders and employees appreciate the clarity that comes from well-defined metrics. SHAPE THE CULTURE AROUND SUSTAINMENT Behavior changes must be “real” and not a “flavor of the month.” If people go through training but their work environment has not noticeably changed to support the new behaviors, people will think that the new behaviors are optional or, worse, that management is not serious about change. On the other hand, if people go through training and return to a work environment that is significantly different and better aligned to support the new behaviors, people will see that management is serious about this change.