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Do you know your Win Rate?

Donal Daly January 23, 2015 in dealmaker, win/loss, Sales Process, Velocity

  

As you are developing your sales strategy for 2015 (you are right?) one of the critical elements in determining your sales velocity is your Win Rate. If you don't know how many opportunities to need to pursue to make your number, your vision for the future will be cloudy. It is hard to build a sales strategy or know what marketing needs to deliver into the funnel. It seems pretty simple at first, but calculating your Win Rate is not as straightforward as it might appear. In most cases sellers will think about their Win Rate as the number of wins as a percentage of the number of opportunities that were pursued. But that doesn’t tell the full story. 

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Battling the 57% - Part2: Flanking to Win

Donal Daly July 05, 2014 in Account Management, Call Planning, Coaching, skills, Questioning, Sales Process, Velocity

I have written before about the statistic that is out there ‘buyers have progressed 57% through their buying process before they engage a salesperson’ – is in fact an average and that how you act before and after ‘the 57%’ is a matter of choice, not a function of averages. It really comes down to whether you engage first with the buyer, or react to their engagement with you. In this post I will set out some guidelines on how you might react ‘after the 57% point’ if you find yourself in that situation.

Let’s first consider the whole spectrum of engagement – the Sales & Marketing Continuum.

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Make Every Sales Call Matter

Donal Daly April 28, 2014 in Call Planning, Technology, Velocity

So here’s the thing. There are really only two things that a salesperson controls; (1) who they call on, and (2) what they say when they get there. Ideally a seller is spending as much time preparing for and executing on the ‘what’ as he is deciding on the ‘who’. After all, no matter how well you have refined your target market, figured out the ideal buyer persona, and sharpened your competitive positioning, nothing happens until you engage with the customer.

But the research shows that very few of these engagements are planned. It is all too rare that a sales person has a detailed plan of what he wants to achieve on the call. What are the desired outcomes? Why might you fail? In the absence of a Call Plan many sales interactions leave a lot to be desired. In fact, 64% of all sales calls are ineffective.

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7 Principles for Individual Sales Success

Donal Daly February 02, 2014 in Coaching, Background, Leadership, Velocity

You should only read this if you believe that your level of success is largely up to you. Yes, it’s impacted and influenced by external events, but it’s not your sales manager, employer, customer, product, partner, bank manager or religious leader who ultimately determines your destiny. It’s you, and in difficult selling times, that’s the first principle that you have to accept.

There are few professions where the inner strength of the individual protagonist is as critical as that of an individual salesperson. During each sales call, you put your own credibility - and that of your company - on the line. Most likely, you are the primary arbiter of success or failure, and you always face the risk of failure or rejection. But when you win, the sense of achievement and personal gratification are amplified just because you are always putting yourself out there.

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A little sales dashboard humor

Donal Daly January 27, 2014 in Coaching, Background, Velocity

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Unpacking Sales Velocity

Donal Daly January 24, 2014 in Innovation, Technology, Velocity

When Henry called me yesterday he asked a really interesting question. ”Why is it”, he said, “that everyone feels that the start of the year is the only time that they should look to build their pipeline?”

Henry works for a software UX design company that we partner with. His company plays a huge role in designing Dealmaker to be really, really, easy to use. They do spectacular work. If you are a Dealmaker user you will know what I mean.

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7 Principles for Successful Sales Leadership

Donal Daly November 25, 2013 in Coaching, Leadership, Forecasting, Analytics / BIg Data, Technology, Sales Process, Velocity

One of the perks of my job is the interaction I am privileged to have with so many great sales leaders. During the beta phase for a new solution we just launched (to help sales managers understand the potential vulnerabilities in the sales performance of their teams), I had more intensive interaction than usual with a number of sales leaders. Going beyond the challenges of the front-line sales manager, which is really the problem that Dealmaker Sales Performance Insight helps with, I was struck by some common principles that seem to be consistently applied by those sales leaders who are at the top of their game. Here is my synthesis of those conversations.

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Why Big Data for Sales fails

Donal Daly September 08, 2013 in Innovation, Analytics / BIg Data, Technology, Velocity

The Big Data hype worries me. A lot. Particularly as it pertains to sales analytics. When it comes to understanding the inflection points that should be the determinants of behavior change to improve sales performance, we don't suffer from an information deficit, we suffer from an insight deficit. Big data is perceived by some as the answer to the question. The problem however is that we often don't know the question.

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10 Things Every Sales Manager Should Know About Sales Performance (Infographic)

Donal Daly July 30, 2013 in Coaching, Innovation, Pipeline, Technology, Sales Process, Velocity

Thanks to our friends over at Work.com for helping us with this infographic.

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When is your Win Rate not your Win Rate?

Donal Daly June 30, 2013 in Innovation, Pipeline, Forecasting, Technology, Sales Process, Velocity

It seems pretty simple at first, but calculating your Win Rate is not as straightforward as it might appear. In most cases sellers will think about their Win Rate as the number of wins as a percentage of the number of opportunities that were pursued. But that doesn’t tell the full story.

Let’s say I am working the four deals listed here.

  • Deal A: $20,000
  • Deal B: $10,000
  • Deal C: $40,000
  • Deal D: $30,000

Scenario 1:

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