This is my second interview with Craig Klein, CEO of SalesNexus and thought leader in the Sales 2.0 space. In this interview Craig talks about what’s exciting him these days, the trend of social media intelligence in CRM’s, and if there is really a difference between a warm call and cold call. And for the Twitter fans out there, he also takes a stab at describing his company in 140 words or less.

Let’s hit it!

Chad: We are halfway through 2010, how has the first half of the year been for SalesNexus? What has been the most surprising development of the year so far?

Craig: 2010 will be our best year yet! Interest in our web based CRM built for sales teams is growing. As for surprises, it has to be the explosion in startups that we’re working with. I guess it’s expected – many folks laid off in the last couple years are striking out on their own but, the volume of startups we’re hearing from is truly amazing. I love it. Entrepreneurs are special people!

Chad: Sales 2.0 East was just held in Boston, what are some of the Sales 2.0 tools or processes that are driving incremental revenue change or increases in efficiency for SalesNexus?

Craig: Web Lead Automation! A sales person’s dream is to have a never ending stream of new leads to sell to. No cold calling, networking, etc. Interested customers calling you! Connecting your website to your web based CRM and ensuring you have good tracking of how leads are finding your site and help you increase website traffic and leads and make selling a lot more fun!

Chad: In your own words can you hash out what you see as the major differences between Sales 1.0 and Sales 2.0. Why do all organizations and sales minded folks need to pay attention?

Craig: To me, Sales 2.0 is about the way sales people see their role in business. Sales 2.0 is being a trusted advisor to everyone you come into contact with and using technology to automate and focus your time on customers and opportunities where you can add the most value.

Chad: What are your thoughts on social media intelligence and bringing data from Linkedin, Facebook, and Twitter to the sales rep through CRM systems?

Craig: I continue to be amazed at the creative ways that sales people find to use social media sites to network, prospect and build relationships. We’ve found that in certain industries, tracking your customers’ profiles in Facebook or LinkedIn is vital. In other industries it’s seen as a time waster. For us, it should be an option that can be enabled. Each business or sales person has to determine if a large portion of their market is using these sites and if so, it’s a no-brainer to have profiles and updates appear in your web based CRM!

Chad: Do you believe there is a real difference between a cold call and warm call? Isn’t still a cold call if the person is not expecting your call?

Craig: I see companies use email marketing and social media networking to make contact with people and warm up the relationship. If they connect with someone online and then call them, that’s not really a cold call to me. I also see a lot of people combining email marketing and cold calling to great effect.

Chad: We did a post about a year ago, and I’m certain there’s been a ton of change with SalesNexus. What’s new and exciting on your end?

Craig: In July of 2010, we’ll release the most significant update since the introduction of SalesNexus. Our web based CRM solution has an updated and streamlined interface for easier, faster navigation and robust email marketing capabilities including tracking of opens and clicks and triggering sales alerts and campaigns. SalesNexus is now both a web based CRM and a complete email marketing solution, all in one.

Chad: What is the most over-hyped aspect of this Sales 2.0 mania going on? The most overlooked?

Craig: Well, I think people think a new piece of software can drastically change their sales game on its own. Sales 2.0 is about changing the relationship with your customers to one of helping them get what they need, period. To do that effectively and profitably, you have to leverage technology to automate tasks that are repetitive and about educating the customer. Most people overlook the underlying principal that all this automation should give the sales person more time to listen to the customer’s needs, which is mostly about opening your ears, not your computer.

Chad: And for the Twitter bugs out there – can you describe SalesNexus in 140 characters or less?

Craig: More Leads, More Sales and Less Work – Web Based CRM and Email Marketing a 10 person sales team tailor to their unique way of doing business.

Chad: What are some awesome resources you recommend our awesome readers and subscribers check out?

Craig: Well, I’ve got to tell you about a great opportunity for sales teams to get some incredible exposure AND learn to sell at the highest levels. The Great American Sales Challenge will be airing on CNBC and their recruiting sales teams to be part of the show! Check it out here – The Great American Sales Challenge.

Chad: As always, it was a blast Craig, great stuff!

For the first interview with Craig Klein click here.

Related posts:

1. Sales 2.0 Interview | Craig Klein CEO SalesNexus
2. How Salespeople Can Use Email to Close More Deals | Craig Klein
3. Thoughts on Sales 2.0 from Lee Levitt
4. Never Cold Call Again – Enough with the Hype
5. Don’t Cold Call. Social Call | Nigel Edelshain

Share on Facebook

Here is a massively interesting and alarming sales statistic.

In 2009 only 50% of sales reps achieved their quota. This number is down from 64% quota attainment in 2008 and 67% quota attainment in 2007. The data was taken from the Bridge Group’s 2010 inside sales metrics survey, and raises many questions for sales organizations. Further, the survey indicates that since 2007 quotas have risen by 33%, while less reps are hitting quota.

That is a bloody mess for any sales organization and it begs some questions to be asked.

Here are a few that come to mind:

1.) Why are quotas going up while quota attainment is going down?
2.) Why is quota attainment going down?
3.) Why are quotas going up?
4.) Is there a disconnect between sales management and front line sales reps?
5.) Is the proper training being provided to sales reps?
6.) Is this a cyclical trend in the data or a secular shift in the way customers buy?
7.) How much of this trend is related to the 2009 recession?
8.) Do you have a repeatable and measurable sales process?
9.) Can you pilot changes in the sales process to increase rep quota attainment?

More then a few mind benders in that list, but they need to be put on the table and discussed if any organization is going to see an improvement in rep quota attainment. Many organizations will ignore the data, turn into an ostrich, and steak their heads in the sand. Don’t be an ostrich — it is not the solution.

The solutions start in getting feedback about your sales process (if you don’t have a sales process, start there.) Next, try surveying the sales organization so you can have both qualitative and quantitative data (from your CRM system and dashboards) about areas to improve or keep the same. Don’t be afraid to speak with the reps that are performing and the one’s that are not — really listen. You will begin to notice patterns — promote the good one’s, eliminate the bad one’s, keep experimenting, and you will find the answers to improving.

Related posts:

1. The Dirty Little Secret of Sales No One Will Tell You
2. 9 Reasons Why 50% of Sales Reps are Missing Quota
3. Why Are 50% of Sales Reps Missing Their Sales Quota?
4. What Kind of Sales Organization Do You Work For?
5. Should Sales Reps Be Allowed to Blog? IBM Says Yes.

Share on Facebook

The awesome crew over at The Bridge Group just released their 2010 Inside Sales Compensation and Metrics Report (it is an absolute must read). The report is chock full of great data, visualizations, and commentary that really shows some interesting and surprising trends within inside sales organizations. The B2B sales battlefield is changing and the report shows you exactly where the changes are happening so you can adapt your offensive.

Topics covered in the 2010 Inside Sales Compensation and Metrics Report:

• Group Reporting Structure
• Rep Activity Metrics
• Revenue Contribution
• Inside Sales Rep Compensation
• Management Compensation

To download the 2010 Inside Sales Research Report click here.

Related posts:

1. Social Media Drives Sales – Here’s the Data to Prove It
2. Inside Sales 2.0: What Practices and Technologies Produce Results
3. 11 Sales Tips for Cold Calling and Prospecting
4. The Emergence of the Hybrid (Telesales/Field) Sales Rep
5. Sales Productivity Decline: Why did 50% of Sales Reps Miss their Number?

Share on Facebook

Creating interesting content through blogging is one of the best ways to generate inbound qualified leads for the sales organization. The HubSpot blog (I’m a HubSpotter) published a great guest post on the 3 Ways to Turn Your Company Into a Blogging Machine. It is must read stuff for marketing and sales organizations.

Excerpt:

“Many companies think of blogging as adding a bolt onto an existing machine. In reality, the companies that are successful at blogging inspire a blogging culture throughout the organization. To do this, your business needs to become a blogging machine.”

Keep in mind that success is measured in an increase in qualified leads and opportunities, more top line revenue, a lower cost per lead, and a lower cost of customer acquisition.

The end result of successful business blogging is increased profitability and brand awareness. That is why you need to be business blogging yesterday.

Related posts:

1. Where Will The Leads Come From?
2. How Neil Patel Uses Social Media To Increase Business
3. Cut Your Marketing Budget to Zero & Still Generate Leads
4. Should Leads be Inbound, Outbound or Both? Unified Demand Generation
5. Will Your Business Still Exist in 5 Years?

Share on Facebook

Here are the slides via slideshare from the webinar: What the Heck Happened to the Sales Profession I Love, that Trish Bertuzzi and I presented. We talked about how 3 fundamental shifts are reshaping the sales profession and the effect it will have on sales organizations.

To watch the archived webinar please click here.

Stay tuned for more as Trish and I announced on the webinar that we are publishing a book on how sales executives, sales managers, and sales reps can stay relevant amidst all the changes happening in the sales profession.

To subscribe to the New Sales Economy blog click here.

Related posts:

1. What the Heck Happened to the Sales Profession I Love?
2. Prospecting 2.0 Trends
3. Inbound Marketing, Outbound Marketing and Sales – Are You Herding Cattle or Cats?
4. Do You Freak When They Tweet?
5. Trish Bertuzzi Interview — Is Sales 2.0 and Inbound Marketing Just Buzz?

Share on Facebook

Guest post by Darion Miller and Steve Teneriello from the Service Coach blog

Generally speaking, sales people fall into three distinct categories based on personality. Let’s talk about each one. (You’ll probably identity some of the members of your organization right away.)

The Technical Educator (TE) – TE’s rely heavily on educating the prospect through a lengthy and technical demonstration of the solution or product they are trying to sell – making sure to demonstrate each and every feature and function. Through this long process they may actually stumble upon the buyer‟s vision of a solution and magically close a deal after boring a prospect to death.

The Technical Educator isn’t really comfortable with sales. TE’s generally feel that asking for business is wrong. They hope that by providing information, a prospect will ask them to make a service appointment. As a result, technical educators can spend four hours on what an all-star could accomplish in sixty minutes or less. The bottom-line with a sales person who has a TE personality profile is that they are not producing at a high level. They invest too much time for too small a return on the investment.

The Bulldozer - You know the stigma “Snake oil salesman”. This is what may come to your mind as we explore the bulldozer personality trait. Bulldozers use trickery and trumped up discounting to make a deal. They masnake oil salesmany skip sales appointments because they may have a predetermined bias of a customer;s location or income level. If you’re familiar with the movie Tin Men, you have seen bulldozers in action. The film stars Richard Dreyfus and Danny Devito as aluminum siding salesmen in the 1960‟s, a time when the product was first being introduced to the public. To great comic effect, the two men are willing to stoop to any level to outsell one another. In one scene, for example, Devito pretends to be a Time-Life photographer. He coerces a homeowner into getting new siding by claiming that he has been dispatched by the magazine to take a picture of her distinctive home…distinguished by the fact that it is the ugliest one on the block.

Bulldozers may be funny on the big screen, but in real life, they give the sales profession a bad name. Bulldozers love to hear themselves speak and very rarely do they drill down and listen to their prospects. Unlike the Technical Educator, a Bulldozer flies right through a demonstration and may go directly to price without delivering any value in a presentation or demonstration. They are looking for quick hits and very rarely do they follow a process.

Beware of Bulldozers if you are trying to build a solid reputation in the market place. Prospects often feel uncomfortable with them since they frequently rely on high-pressure tactics or create false urgency by offering today only pricing. Bulldozers may have decent activity and they may actually close a lot of deals for you, but I can assure you those customer relationships are very fragile and the activity they produce is not quality activity.

The All-Star – As the name suggests, an All-Star personality is especially well-suited to life as a sales person. Empathy comes naturally to an All-Star. They understand a prospect’s level of pain because they have the unique ability to put themselves in the customer‟s shoes. Unlike a TE or Bulldozer, All-Stars form consultative solutions that are designed to meet the buyer’s challenges, needs or goals. They position themselves as the trusted advisor and prospects have the same confidence in the advice of an All-Star as they would in a family doctor.

All-Stars understand and research their products, competition and know how to think on their feet. They provide customers with realistic expectations and have great listening skills. They are not afraid to ask for the business. They are resilient and they never give up. All-stars aren‟t afraid to ask the tough questions. Get an All-Star on your team and they’ll out perform Bulldozers and Technical Educators by a long shot.

You see, All-Stars get satisfaction from helping their customers…but at the same time are motivated by money. They take pride in working hard and long hours with the idea of reaping a large commission check. They are the type of sales people who wake up early and are excited to get to work. Your sales people – Technical Educators, Bulldozers, and All-Stars — are the people your customers are interacting with. Would you buy from them if you were about to make a major purchase? Or perhaps the better question to ask is: Which one of these people would you prefer to have as a business contact?

For more great stuff from Darion and Steve drop by the Service Coach blog

Related posts:

1. Can You Be in Sales and Still Have a Life?
2. <a href="http://newsaleseconomy.com/33-personal-branding-lessons-from-baseball-lore" rel="bookmark" title="Permanent Link: 33 personal branding Lessons from Baseball Lore”>33 personal branding Lessons from Baseball Lore
3. Is Fear Holding You Back?
4. Winning in the New World of B2B Sales
5. How Sales Reps Can Win With Twitter

Share on Facebook

Yesterday, Trish Bertuzzi and I presented a webinar entitled: What the heck happened to the sales profession I love? and we dived into three fundamental shifts shaping the direction of the New Sales Economy. I spoke a lot about herding cattle vs. herding cats and I wanted to elaborate on the analogy here because it is really, really, really, really, (clever … just kidding), important to getting where the sales and marketing professions are heading in the B2B marketplace.

First, here is the 2010 Super Bowl commercial (notice the extra reach it got from YouTube) from HP’s services division EDS.

The first thing about herding cats is….. “don’t let anybody tell you it’s easy!” If you’ve ever tried to herd a cat you know it’s damn hard. And anyone can herd cattle — they are slow, stodgy, and like to be told what to do. Cats are nimble, quick, and verrrrry hard to corner – so are our customers today. The parallel is that the majority of sales and marketing organizations are still trying to herd cattle, when the marketplace has changed to herding cats.

I don’t know why, but for some reason, herding cats makes a very good analogy for the B2B marketplace today.

There are 3 types of cats (prospects) in the B2B marketplace today. There are cats that want to talk to you now – they are in the buying process and will be making a purchase. There are cats that want to learn more and research – they will purchase within the next six months to one year (maybe sooner if you are really compelling and aligned). And there are cats that will run away from you faster than you can chase them if you try.

What do you do?

Start focusing on the first two cats and let the third cat be free. If you make a habit of chasing the third cat, you may catch it from time to time (pretty rare), but you will lose far more often then you win, and you will waste a lot of energy (cost) in the process. And the real big cats – the cheetahs (the big deals) will always out run you. Even if you did chase down the cheetah for some reason, it will be at the expense of all the smaller cats, and you will be very, very tired (costly). Does that strategy really make sense?

Inbound, Outbound Marketing, and Sales

I get asked about the difference between Inbound Marketing and Outbound Marketing all the time. I also get asked why this is important to sales organizations. Well, Inbound Marketing is all about helping marketing and sales organizations herd more cats – the cats find you instead of you chasing them around like a crazy person. It helps get more sales reps, into more deals, more often. Inbound Marketing helps you close more business at a lower cost per lead.

How do you get more cats to pay attention to you?

A great way to get more cats that want to run away, to pay attention, is to give them food. In the B2B marketplace this food…. is remarkable content. Start publishing blogs, generating inbound links, and get active in social media. It makes it a lot easier to herd cats when you are offering them something they find interesting. If what you are offering is interesting enough, even the quickest of cats will come to you and it will buy what you are selling.

Related posts:

1. Should Leads be Inbound, Outbound or Both? Unified Demand Generation
2. Demand Generation and Inbound Marketing – Is There Really a Difference?
3. <a href="http://newsaleseconomy.com/the-tri-fecta-of-sales-opportunity-personal-branding-social-media-and-inbound-marketing" rel="bookmark" title="Permanent Link: The Tri-Fecta of Sales Opportunity: personal branding, Social Media and Inbound Marketing”>The Tri-Fecta of Sales Opportunity: personal branding, Social Media and Inbound Marketing
4. Trish Bertuzzi Interview — Is Sales 2.0 and Inbound Marketing Just Buzz?
5. Sales and Marketing Alignment: Why are Most Organizations Dysfunctional?

Share on Facebook

Since 2007, IDC, an IT think tank, in sponsorship with EMC, puts out a report on the state of the Digital Universe. This year’s report has just been released and there are some interesting trends that sales reps can draw from the report.

Read more…

Share on Facebook

Do you have a plan for when your customers or prospects tweet your pricing? Do you have a process or workflow that will respond to someone when they crowdsource your pricing? This is the new frontier of virtual guerilla sales warfare – you need to be ready.

Read more…

Share on Facebook

In this post I interview Kipp Bodnar, Social Media Marketing Manager, co-author of the Ad Age Power 150 Social Media B2B blog, and thought leader on using B2B social media strategies. In this interview Kipp shares why sales reps need to become better marketers, how social media is changing the B2B marketplace, and why social media is more than the responsibility of the marketing department at your company.

Chad: What are some of the major shifts you are seeing in the B2B marketplace with the innovation of social media platforms?

Read more…

Share on Facebook