sales trends for 2011

James ThomsonSmartCompany.com.au

Sue Barrett Founder & MD of Barrett Pty Ltdwww.barrett.com.au

Sales trends for 2011

This webinar will start at 2pmAEST

James ThomsonEditorSmartCompany.com.au

Today’s Sponsor

http://bit.ly/evBoSf

Sue Barrett Founder & MD of Barrett Pty Ltdwww.barrett.com.au

Welcome to

12 Sales Trends

Presented by Sue Barrett, Founder & MD of Barrett Pty Ltd

Webinars 2011

Consulting

& Coaching

Campaigns

& Training

Culture &

Capability

Barrett

Research 28 Day

Sales Challenge

©2011 BARRETT

T +61 3 9532 7677

F +61 3 9532 7388

www.barrett.com.au

PO Box 277

Caulfield South

VIC 3162

Talent

12 Sales Trends Agenda

•Rethinking Solution Selling

•Rethinking traditional incentives and rewards

•Collaboration & Creativity: why sales is a team sport

•Sales leaders are the key

©2011 BARRETT Specialists in 21st Century Sales Mastery

the evolving

salesperson

the company secretary

company car

product features

she’ll be right mate

product focus

the o

rder

sheet

slower pace

local marketslocal manufacturing

1970’scustomer loyalty

greed is good

Clo

se

the

de

al

CALL

ME

mobile communication

Build

BIGGER

product

benefits

word processingthe car

the long lunch

1980’s

database

sh

ould

er

pad

s

1990’s

the rise of the corporation

big

com

mis

sio

ns

high stress

recession

solving problems

the mobile phoneemail

Get

sm

art

doing deals

trust me

teamwork

client partnerships

onlineanywhere

Be informed

going global

2000

Sell the way the

customer needs to buy

e-volve

security

Frequent flyer

web 2.0

values alignment

2011&

Beyond

connect & collaborate

the new

transparency

get personal

create & innovate

knowledge & ideas

TRUST

dig

ital

liste

nin

g

people power

everybody lives by selling

something

Glo

ba

l colla

bora

tion

sales 2.0

blogging

The Evolution of Selling

©2011 BARRETT Specialists in 21st Century Sales Mastery

1970’sproduct features

1980’sproduct

benefits

1990’saggregation

of products

2000sell the

way the

customer

needs to

buy

2011+

get

personal,

get

creative,

collaborate

Solution Selling is now a commodity sale

©2011 BARRETT Specialists in 21st Century Sales Mastery

solutions

solve

problems

collaboration & creativity

produce

ideas, innovation & results

Automation reduced products & solutions to

Commodity Purchases

People are willing to pay for this

products

meet

needs

Rethinking Incentives & Rewards

©2011 BARRETT Specialists in 21st Century Sales Mastery

myt

hs If you reward something you

get more of what you want

If you punish something you get less of what you want

fact

s Monetary incentives improve performance for mechanical tasks only

Monetary incentives result in poorer performance for cognitive &/or creative tasks

21st Century Selling is a Cognitive / Thinking / Creative Function

Rethinking Incentives & Rewards

©2011 BARRETT Specialists in 21st Century Sales Mastery

fact• Money is a motivator at

work so if you do not pay enough they will not be motivated to work

fact• Pay people enough to

take the issue of money off the table so they are not thinking about money and you will get better performance

Rethinking Incentives & Rewards

©2011 BARRETT Specialists in 21st Century Sales Mastery

Purpose

Mastery

Autonomy

‘Drive, the surprising truth about what motivates us’, Daniel Pink

Rethinking Incentives & Rewards

©2011 BARRETT Specialists in 21st Century Sales Mastery

•Used when difficult to assess sales force activity and performance or when team selling is important i.e. complex sellingStraight salary

•Paid % of sales or gross profit – rewards people from accomplishments rather than effortCommission only

•Used to provide more income security while bonus gives added incentives. Usually paid annually and based on sales quote or gross margin

Salary plus bonus

•Comprehensive payment plans combine the stability of salary, incentive of commissions and the special reward of bonus

Salary plus bonus & commission

•Team selling is becoming more critical as business becomes more complexTeam selling

Sales Is Now A Team Sport

©2011 BARRETT Specialists in 21st Century Sales Mastery

The Sales Leader – International Research

• Most Sales Managers reported that they were given no formal

training in Sales Management practices, either before or during

their tenure as a Sales Manager.

• When Sales Managers were more frequently and better trained

and coached then their sales teams achieved higher performance

and results.

• In no other type of sales training was a more positive correlation

found between frequency of training and sales performance.

©2011 BARRETT Specialists in 21st Century Sales Mastery

ASTD Research Study 2009

The Sales Leader - Coaching

©2011 BARRETT Specialists in 21st Century Sales Mastery

0%

20%

40%

60%

80%

100%

120%

< 2hrs 2-3 hrs 3+ hrs

High

Average

Low

90% 92%107%

Teams not receiving coaching underperform by

a significant margin

On average, teams that report receiving more than

3 hours of coaching per month exceed their goals by

7%

Coaching hours per month

% to goal

Source: Sales Executive Council

21st Century Sales Leader

©2011 BARRETT Specialists in 21st Century Sales Mastery

sales leadership effectiveness

strategic action

coaching

team building

self mgt

global perspective

technology

For more help

If you want to talk to someone about developing

Sales Mastery contact us on:

(+61) 03 9532 7677

contact@barrett.com.au

www.barrett.com.au

Remember everybody lives by selling something

©2011 BARRETT Specialists in 21st Century Sales Mastery

About Sue Barrett

©2011 BARRETT Specialists in 21st Century Sales Mastery

Founder & Managing Director of Barrett, est.1995

Business Advisor, Speaker, Qualified Coach, Facilitator, Trainer, Writer, Interviewer.

Lead sales writer for www.smartcompany.com.au

& other publications (local & international).

Over 200 published articles to date.

1997 Winner of Telstra & Victorian Government Small

Business Award

Inducted into the Business Women‘s Hall of Fame 2000

Finalist 1998 & 2001 Telstra Business Woman of the

Year Awards

ACE Sponsor, Victorian Institute of Sport

(VIS) since 1991

Interviewed over 8,000 sales people and sales managers for

recruitment purposes.Assessed over 70,000 people in

sales & leadership. Trained over 15,000 people in

sales, sales leadership, teams & culture.

Currently researching & interviewing high performing

women for her 1st book ‘Sell Like A Woman’

Built 1st Australian Sales Competency Dictionary & profiled & mapped 100+ different types of sales &

sales leadership roles

Mother to 2 boys, partner, competitive swimmer &

hockey, enjoys painting & performing in theatre, a

keen practitioner of yoga & meditation, & passionate

CATS supporter

Thank you