Selling Made Simple, Salesman Podcast, This Week In Sales, And More...

Selling Made Simple, Salesman Podcast, This Week In Sales, And More...

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Selling Made Simple, Salesman Podcast, This Week In Sales, And More... episodes

  • What Does An Account Executive Do? (A Day In The Life) | Selling Made Simple
    Sales is a popular career choice, with over 14 million of the 147.7 million employed US citizens holding Sales and Related Occupations. That’s almost 9.5% of US workers!
    Of course, there are a wide variety of sales positions available. These include retail, automobile, insurance, real estate, advertising, and inside sales. And there are many different sales titles too, such as –

    * Sales development rep (SDR)
    * Account executive (AE)
    * Account manager (AM)

    If you’re considering getting into sales, it’s best to understand these positions so you can figure out where you fit in. And since there is an average of 2.6 AEs for every SDR, you may see more job postings for this position. So, let’s take a look at what an Account Executive does day-to-day.
    What is an account executive?
    Account executives are part of a sales team. It is a job title found primarily at advertising agencies, public relations firms, financial services companies, and technology companies.
    Responsibilities for account executives vary from company to company. Some are primarily responsible for building great relationships with potential customers and closing business for their organization. Other account executives support existing client accounts to manage, grow, and renew those accounts. And some account executives are responsible for both closing new business and managing existing accounts.
    Although they are called executives, they’re not executives in the traditional sense because they don’t typically manage a team. Instead, they represent the company as the primary company contact for new and existing clients.
    What does an account executive do?
    An account executives duties vary depending on the specific business and industry they work in. For example, if they’re responsible for closing new business and managing existing accounts, activities they engage in include:

    * Negotiating and closing business with new customers.
    * Retaining existing customers by supporting them and developing strong client relationships.
    * Growing existing customer accounts to increase revenue.
    * Coordinating all tasks related to their accounts.
    * Identifying new potential clients for the company.
    * Developing sales strategies based on industry trends and data.
    * Guiding potential customers through the buying process.
    * Preparing for and attending client meetings, including discovery calls, product demos, and presentations.

    What is a typical account executive job description?
    The ideal candidate for an Account Executive position can identify and attract new potential customers. Then they need to close the business, onboard new clients, and manage the customer relationship moving forward. This involves selling and relationship-building skills to maintain and grow customer business for the company.
    Additional details you might see in a typical account executive job description include:

    * Educate and guide prospects throughout the buying process
    * Manage a pipeline of qualified leads and build relationships with prospective customers
    * Work with existing assigned accounts to retain and grow their business
    * Close business with new and existing customers while meeting designated targets
    * Work collaboratively with marketing and product teams to develop sales strategies for new and existing products
    * Project management experience for senior account executive roles can be requested as well.

    An Account Executive’s day-to-day routine
    Although a particular sales position may sound attractive,
    11 min
  • 9 Powerful Sales Discovery Questions (And 12 Essential Follow-ups) | Selling Made Simple
    We all know the stereotype of the dodgy used car salesman. But contrary to popular belief, sales isn’t about tricking people into buying. Instead, it’s about giving customers the solution to their problem (whether they know they have the problem or not).
    The tricky part for salespeople is finding out if their solution is a good fit for their buyer’s needs.
    Is that buyer actually struggling with a problem you can solve? Do their needs align with what you can provide? Are they equipped with the resources to use your solution correctly? Discovery calls are designed to provide this invaluable information and more.
    With this discovery info, you can better qualify leads, craft the perfect sales pitch and close more deals.
    This guide will help you uncover your buyer’s actual needs and home in on their underlying business problem with a simple step-by-step sales process. We’ll be looking at nine open-ended discovery questions along with 12 powerful follow-up questions.
    What Are Discovery Questions?
    Discovery questions are the questions you ask sales leads during a discovery call. Of course, you’ve likely already learned a bit about the prospect before jumping on the phone. But your discovery call will help you fill in the details about their situation and create a clearer picture of their needs.
    The answers to your discovery questions let you determine several things.

    * If your product offering can solve the needs of a sales lead.
    * If you can deliver your product within the buyer’s constraints (i.e., timeline, budget, etc.).
    * The best way to pitch your product.

    If the prospect’s answers line up well during your discovery call, then they’ll move on to the next phase of the sales process. If not, you can redirect them through another nurturing campaign. Or they’ll drop out from your sales funnel entirely.
    So, what makes a sales discovery question effective at uncovering your sales lead’s genuine business problems?
    Principles of Great Sales Discovery Questions
    The types of discovery questions (and how you ask them) determine the quality of the information you extract on your call. With the right discovery call questions, you can get to the heart of your prospect’s needs. The wrong one? You may lose the buyer’s trust and sink the deal entirely.
    So, what do great sales discovery calls look like?

    * They’re Open-Ended – Avoiding “yes or no’s” gets the sales lead talking and lets them avoid feeling “trapped” into an answer.
    * They’re Informed – Do your research beforehand. Novice-level questions torpedo your credibility in an instant. But informed ones prove you’re a professional worthy of trust.
    * They Move the Needle – Each question you ask should always take you one step closer to qualifying or disqualifying. They allow sales reps to dig deeper and move the entire sales process forward. There’s value in building rapport, but time is precious. So don’t waste it on filler. Try to keep questions in line with proven frameworks like MEDDPICC.
    * They’re Ripe for Follow-Up Questions – A discovery call should be a conversation, not an interrogation for your prospect. They should add value to the potential buyer. Asking relevant follow-up questions lets you naturally uncover pain points and hints for creating a perfectly catered sales pitch. Plus, it helps build rapport which will help your deals close faster.

    9 Qualifying Discovery Questions for Sales
    Asking the right discovery call questions is key to uncovering the information you need to create an irresistible sales pitch.
    So lets get practical.
    15 min
  • MEDDPICC Your Way To Sales Success: A Step-by-Step Guide | Selling Made Simple
    Learning about your customer, asking discovery questions , scoring leads… you already know the basics of sales qualification.
    You’re past that; you want more.
    You need an effective sales methodology—one that can help you find more qualified buyers, quicker. MEDDPICC can help you achieve just that. We’re talking 30% growth rates in saturated markets and 250%+ in start-ups.
    If you are struggling to qualify quality leads, try out the MEDDPICC sales methodology and set your organization up for success.
    What Does MEDDPICC Stand For?
    MEDDPICC stands for: Metrics, Economic buyer, Decision criteria, Decision process, Paper process, Identify pain, Champion, and Competition.
    Here’s a brief explanation of the MEDDPICC acronym:

    Metrics — What are the economic benefits of your solution?
    Economic buyer — Who makes the buying decisions? Which person has the ultimate authority?
    Decision criteria — What factors drive the purchase decision?
    Decision process — How are decisions being made in the company?
    Paper process — What process is being followed to keep the paperwork in order?
    Identify pain — What pain points you must resolve?
    Champion — Which person or end-user has a level of power, influence, and credibility?
    Competition — Who is your competition?

    Pretty cool right?
    Now, let’s dive deeper into the MEDDPICC sales process.
    What Is MEDDPICC Anyway?
    MEDDPICC is one of the most popular B2B enterprise sales qualification methodologies. It can help you identify high-quality prospects. It’s a checklist of the following:

    Information you need to know
    Tasks you need to do
    Relationships with people you need to nurture

    MEDDPICC vs. MEDDIC
    Despite having almost the same name, MEDDPICC and MEDDIC are (slightly) different from one another.
    MEDDPICC is a variation of MEDDIC, the original sales qualification methodology pioneered by Jack Napoli.
    MEDDIC helps sales representatives develop, qualify, and choose better prospects. In fact, following its guidelines helped Napoli triple PTC’s sales from $300 million to $1 billion in just four years. John McMahon updated this sales process later, changing it to MEDDPICC.
    In an interview with Sprinklr, McMahon explained his decision:
    “I changed it (MEDDIC) to MEDDPICC. I added a P for Paper Process, because if we don’t understand the paper process and associated timeline, then there is no way for us to accurately forecast the deal. An additional C was added for Competition, because when I was qualifying deals I was always surprised by reps that didn’t know who the competition was, who the competition’s champion was, or what the competition’s strategy was to win the deal.”
    To reiterate, MEDDIC is the original framework, while MEDDPICC is the enhanced version that’s expanded to take care of more nuanced needs.
    Why Should You Use MEDDPICC?
    The MEDDPICC sales process is a tried-and-tested strategy that helped many sales professionals around the globe achieve extraordinary results. You can use it to:

    Collect quantifiable and actionable high-quality data to improve forecast and overall results
    Review and remedy gaps in sales campaigns, shortening the overall sales cycle
    Help sales management focus on coaching rather than micromanaging

    MEDDPICC ensures you don’t overlook the more vital parts of the sales process while simultaneously standardizing your sales methodology,
    18 min
  • How To Build Rapport in Sales: 4 Steps To Earn Trust Quickly | Selling Made Simple
    Let’s say that on paper, you have everything you need to blow past your quota. Your pipeline’s packed to the brim with leads. Your product solves a legitimate buyer problem. Plus, everyone who gets on the phone with you is happy to chat.
    And yet, you’re still struggling to close. Even worse, your sales leads seem to be going cold the minute you start the conversation.
    So, what’s the problem?
    The problem is, you’re not building rapport before popping the closing question. And your monthly numbers (and your earning potential) are hurting because of it.
    This guide will help you build rapport the instant your leads jump on the phone. We’ll be looking at four simple steps you can start taking to up your rapport game today. We’ll also go over a few examples along the way so you can see the steps in action.
    What Is Rapport (And Why Does It Matter)?
    What does rapport mean in sales anyway? First and foremost, it means to trust—trust that you’re telling the truth. Trust that you’re listening to your customer’s needs. And trust that your product really will solve the buyer’s problems.
    For salespeople, building trust starts as a losing battle. Indeed, HubSpot Research found that 3% of buyers trust salespeople—just 3%!

    Source
    It’s clear, then, that salespeople like you have to work extra hard to build rapport. Because truth be told, you’re likely starting the conversation with someone who’s already skeptical of your motives.
    So, how can having a better rapport with your leads help you close more sales?

    * It Builds a Long-Term Relationship: The purchasing process for B2B buyers can be exceedingly long. B2B sellers report that it’s taking longer to close sales than a year earlier (35.52% longer, in fact). The strength of your relationship (determined by your rapport) is the anchor that keeps those leads from drifting away over time.
    * It Opens the Door to Understanding the Buyer’s Needs: There is lots of corporate jargon in the B2B sales world. And cutting through the “synergy” speak to truly understand a potential customer’s needs can be challenging. Building rapport with your lead breaks down the jargon wall. The prospect can then talk honestly and frankly about what they’re looking for.
    * It Fuels Referrals: Referrals are a B2B salesperson’s best friend. Referrals are easier to close; they spend more per purchase and are more loyal than regular sales leads. Plus, 84% of B2B decision-makers start the buying process with a referral. The more rapport you have with your customers, the more likely they’ll be to throw referrals your way.

    How To Build Rapport in Sales: 4 Simple Steps

    Now that we’ve determined why building rapport in sales process is so important let’s dive into how to do it.
    There are four simple steps to build rapport with your potential buyers.
    1. Find That Phatic Sweet Spot
    The term “phatic communication” describes a conversation that has a social function. Talking about the weather, asking about the buyer’s family,
    12 min
  • Brainshark Violation Of Biometric Privacy? Revenue intelligence? | This Week In Sales
    On this week in sales we’ll be looking at; Brainshark (allegedly) being in violation of bio-metric privacy rights, revenue intelligence, salespeople being suck in the past and much more!
    News:
    Sales training software company charged with privacy breaches
    Tech firm Brainshark has been hit by proposed federal-class claims that the company is using artificial intelligence to analyze facial biometric data of sales employees and rating their sales presentation videos in violation of the biometric privacy rights of Illinois users.
    Complainant Lori Wilk claimed Thursday that Brainshark’s, used by more than 1,000 companies around the world, violates biometric privacy law by analyzing facial geometry in uploaded sales presentations to analyze and score facial expressions and emotions of the presenter without first obtaining informed consent from Illinois users.
    https://www.law360.co.uk/articles/1420502/sales-training-software-co-accused-of-privacy-violations
     
    Mediafly Launches Unique Revenue Intelligence Solution to Drive Deal Confidence
    Mediafly announced Revenue360, a new revenue intelligence solution that aggregates sales and content account activity and engagement data across the customer journey to help sales leaders accurately assess opportunity health, improve forecasting, and drive deal wins.
    Instead of relying on partial insights obtained during sales meetings, Revenue360 captures account activities and content engagement from the first interaction on the website to sales meetings to follow-up from sales reps to provide a holistic view of the deal pipeline and prescriptive nexts steps.
    “Many companies claim to have revenue intelligence capabilities, but their solutions provide users with only partial intelligence,” said Carson Conant, CEO and founder of Mediafly. “In a digital selling environment, sales organizations can no longer rely solely on what happened in the meeting to accurately gauge opportunity health. They also need to understand how buyers engage with content outside of live sales interactions. With the most robust content engagement analytics in the market, Mediafly is uniquely positioned to bridge the gap, offering revenue teams full visibility into insights derived from engagement – or lack thereof – with the content that is presented, shared and available online.”
    https://www.prnewswire.com/news-releases/mediafly-launches-unique-revenue-intelligence-solution-to-drive-deal-confidence-301377364.html
     
    Sales-tech SaaS startup GTM Buddy raises $2M led by Stellaris Venture Partners
    “Despite advances in underlying technologies, current sales enablement solutions fail to meet the needs of the users. They are mostly a user interface on top of a classical folder structure, with basic search and tracking capabilities. Like many other enterprise processes, we believe that this is a space ripe for disruption.” added Alok Goyal, Partner, Stellaris Venture Partners.
    “GTM Buddy leverages the latest advancements in technology, design and AI to deliver the right information to the sellers at the right time, information that is contextually relevant to the buyers; available within the tools that are used by them on a daily basis.” Sreedhar Peddineni, Co-founder and CEO of GTM Buddy
    https://yourstory.com/2021/09/funding-alert-sales-tech-saas-startup-gtm-buddy-stellaris-venture-partners/amp...
    58 min
  • RFP Management Tools And Victor Crashing His Electric Bike | This Week In Sales
    On this week in sales we’ll be looking at; RFP management, self service for Salesforce and how long it’ll take before Victor crashes his new bike.
    Loopio and Seismic Launch Enhanced RFP Content Management Integration for Sales Teams
    Loopio, the leader in RFP response software, has announced advanced updates to its unique-to-the-market integration with Seismic, the global leader in sales enablement. Together, Loopio and Seismic offer the only complete, end-to-end solution for sales content management, coaching and training, proactive content delivery, and sales proposal creation.
    Zak Hemraj, CEO and Co-Founder of Loopio. “The events of the last 18 months have accelerated the pace of digital transformation. Many companies have increased their focus on modernizing their sales technology stacks— to gain additional efficiencies to better serve their customers.”
    https://www.wfmz.com/news/pr_newswire/pr_newswire_technology/loopio-and-seismic-launch-enhanced-rfp-content-management-integration-for-sales-teams/article_0e6988f2-7079-5944-9d0e-b7d438446950.html
     
    Salesforce introduces AI powered insights, sales enablement, and new self-service options
    Salesforce has also introduced Subscription Management for Revenue Cloud.
    “Companies are shifting to focus more on B2B buying and subscription management through self-service,” says Gavin Patterson CRO.
    “Sales leaders need to be able to quickly launch new products and services across a variety of channels, from e-commerce shopfronts to in-app. Existing Revenue Cloud capabilities give businesses the agility to make buying processes faster and easier while accelerating new revenue streams and efficiency.”
    “Now, with Subscription Management, companies can deliver a unified customer experience built on the Salesforce Customer 360 platform, empowering customers to manage subscriptions from any self-service channel on their own,” he says.
    Built on the Salesforce Customer 360, Sales Cloud is a sales platform that aims to help companies drive growth. The company says the new Revenue Intelligence, Sales Enablement and Subscription Management features will help companies sell smarter and grow revenue faster. These innovations come on the heels of recent Slack-first Sales, giving reps the ability to collaborate on deals in real-time.
    https://e-commercenews.co.nz/story/salesforce-introduces-ai-powered-insights-sales-enablement-and-new-self-service-options
     
    Denave launches its retail solution mascot – Dgenie
    NOIDA, India, Sept. 9, 2021 /PRNewswire/ — Denave, the global technology-powered sales enablement organisation, today unveiled its first-ever retail solutions mascot, named Dgenie.
    Sunil Munshi, APAC CEO, Denave, said, “I’m extremely excited to introduce our new brand mascot to our clients. Our strong line-up of retail solutions needed a unique identity to articulate the commitment, rigor, prowess, and value that we offer.
    https://www.prnewswire.com/in/news-releases/denave-launches-its-retail-solution-mascot-dgenie-857947569.html
     
    Customer Data Platform Market worth $15.3 billion by 2026
    According to a new market research report “Customer Data Platform market with COVID-19 Impact Analysis by Component,
    53 min
  • Flockjay Pivots From Sales Training, The Convergences Of Sales Tech And More…
    On this week in sales we’ll be looking at Flockjay pivoting from sales training, Pipeliner including experts in it’s CRM, the convergence of sales tech and much more!
    News:
    Flockjay cuts at least half of its workforce as it pivots away from bootcamps into B2B SaaS
    Flockjay’s core offering is a 10-week sales training bootcamp that helps place graduates into sales jobs across tech companies — about 80% of the company’s students find a job within the first six months of graduation, the company said in January. The graduates of the course, otherwise known as Flockjay Tech Fellows, make an average of $75,000 upon graduation.
    While it is true that learners shifted online, there are still questions around what purpose non-accredited training programs, such as Flockjay, serve, one investor said. With so many options in the market, users have optionality on what service they frequent — and the service may indeed be the one that has a flashy university partnership that validates their program and offers a safety net.
    Flockjay’s struggles also put a spotlight on the highly scrutinized income-share agreements, ISAs. The financial instrument essentially allows students to avoid paying upfront fees to attend a bootcamp, and then ultimately pay back class fees through a percentage of their future income.
    https://techcrunch.com/2021/08/24/flockjay-cuts-at-least-half-of-its-workforce-as-it-pivots-away-from-bootcamps-into-b2b-saas
     
    Pipeliner CRM Announces ExFind, the First Database of Experts and Global Consultants to be Included in a CRM Platform
    Pipeliner CRM, the leading sales enablement tool and CRM software today announced the release of ExFind, a database of experts and global consultants, into their platform
    Contract experts across a range of disciplines, including sales, marketing, leadership development, keynote speaking, motivation and more to best suit their needs.
    “Pipeliner has developed a detailed contact database made up of over 1400 experts from more than 27 countries worldwide, most of which have showcased their expertise in our flagship publication, SalesPOP!,” says Nikolaus Kimla, CEO and Founder of Pipeliner CRM. “The release of ExFind is part of our ongoing commitment to building a comprehensive tool that brings expertise, education and thought leadership to our audience and users.”
    https://www.prnewswire.com/news-releases/pipeliner-crm-announces-exfind-the-first-database-of-experts-and-global-consultants-to-be-included-in-a-crm-platform-301358529.html
     
    Sales Enablement Leader Bigtincan to Acquire Brainshark
    Bigtincan the global leader in sales enablement automation, announced it has entered into a binding agreement to acquire 100% of Brainshark, Inc. (“Brainshark”). The deal combines two of the leading providers of sales readiness solutions for training, coaching and onboarding, adding enterprise-grade capabilities to create the most complete Sales Enablement Platform in the market.
    https://www.bigtincan.com/
     
    The Convergence Of Sales Enablement, Engagement And Readiness
    Individually,  AI solutions are automating and enabling critical aspects of the commercial model – from resource allocation to sales training, account management, pricing,
    52 min

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