The Sales Hacker Podcast
The Sales Hacker Podcast

Episode · 3 years ago

Friday Fundamentals: EP 29: Why Sales People Fail

ABOUT THIS EPISODE

Why do sales people fail? Almost 80% of sales people aren't committed to their job. Becoming committed is the first step. Although it's time consuming, it'll make you a more successful salesperson!

Hey everybody, it's Sam Jacobs. Happy Friday, whatever Friday it is when you hear this. I hope the weather is good. I hope it's nice and not too warm and not too humid, which I'm sure it will be in New York City very soon. Now. Regardless, we're here for Friday fundamentals. Friday fundamentals is that short five to ten minute format where we bring you this week's guest to is Kathleen robarts Curo of rocket trip and really career cro and career sales leader, and she's going to be talking about the reasons why sales people fail and she's written about this. It's a really powerful and thought provoking and inspiring subject actually, and so we can't wait to hear from her on those thoughts. But before we do that we want to thank our sponsor. They put our they put food on my table, at least that I and perhaps food on yours if you use the platform effectively. Friday fundamentals is brought to you by outreach. Outreach triples the productivity of sales teams and empowers them to drive predictable and measurable revenue growth by prioritizing the right activities in scaling customer engagement. With intelligent automation, outreach makes customer facing teams more effective...

...and improves his ability into what really drives results. So thank you outreach for for allowing us to have the show. Kathleen, welcome back to the show. Here's our question for you on Friday fundamentals. What are the reasons that sales people do not achieve success? Thank Sam, I'm excited to be here. Let me tell you what I've found over the many years that I've been in sales leadership position. This is going to sound very ironic, but eighty percent of all salespeople are not actually committed to sales as as a profession, and I think that's that's really funny because obviously you need to be successful and committed to your career if you if you want to be successful. So I think a lot of the reasons why is because it's time consuming. This is the you know, you don't have to be licensed to be a salesperson. Doesn't require any certifications, so it's all on you to get yourself up to speed and typically what you see is people don't do what they should be doing. They're not reading or not watching videos. The not attending seminars. Knowledge...

...is so important when you're in sales, and I basically see that people are not dedicating enough time to their own development. There's a second thing I see is lack of urgency. I don't know how many of you have read the book amp up your sales. It's a great read. It was actually on hub spots top twenty sales books of all time. I actually ask my entire sales organization and eighty plus people to read that last year, and one of the big takeaways is salespeople can compete way better if they are much more urgent in their approach. Ironically, only seven percent of sales people respond within five minutes of a prospect's inquiry, which means most people are lacking a sense of urgency. So I truly believe that being the first one to respond with some value can be the difference between winning and losing the business. The third thing forgetting to listen. We all know that sales peop will talk way too much and when you speak, you are selling, when your customers speaks, they are buying. That's something to live by. So I think if you listen attentively, you pay attention the customer will tell you everything that you need need...

...to know. Poor thing not using social media. I can't believe how many sales people are not leveraging this great tool. I have some really great statistics here. Seventy two percent of salespeople who use social media and in their sales process outperforming the peers. Social sellers hit their sales quote is sixty six percent more often than those who don't use social media. Fifty four percent of salespeople can track closed reveals back to social media engagement. A lot of people are prasing social media. They think it's going to suck up too much of their time. They don't want to be bothered. Well, fifty percent of the sales people who use social media regularly spend less than ten percent of their time on it. That's home. And then, finally, you have not a lot of time, right. So ninety percent of top performing sellers use social media in their sales strategy. So focus on social media. got to use social media everybody. Yeah, hopefully that message is loud and clear. Not having the right attitude. This one's kind of obvious, but having the right...

...attitude is the difference between winning and losing my mind. And then sales this is so important. Optimistic sales people outperform pessimistic sales people by more than fifty percent, and even when the pessimistic sales people have much are selling skills. So and I think unfortunately there's a lot to complain about in sales. I'm not getting good leads. The industries in a downturn. The complans terrible. You know, it's so easy to complain, but it doesn't get anywhere. So I always think that successful sales people put out all that negativity aside. They focus on making things happen. You know, the leads are bad, go find prospects yourself. The complant changed cell twice as much. Those would be buying responses. The next thing is not asking the right questions. Asking the right questions and getting some answers will give you what you need to sell effectively. So figuring out the pain points. Most sales people get stuck in the run of doing sales presentation rather than figuring out what the prospect wants and...

...why. Unfortunately, and neglecting to do this and figuring out what the intention is of their prospect is a detriment and they spend too much time and resources and things that don't matter in the sales process and unfortunately, then create a low probability of closes. Another big thing giving up too easily. Most people think that sales people are persistent and they never give up. The realities, they give up way too easily and ninety two percent of sales professionals give up after the fourth call. However, eighty percent of prospects say no four times before they say yes. That isn't that. Isn't that? We got a bold that and underscore that. That's a wild statistic. Yeah, it's crazy. I mean they're all these statistics are crazy. Fifty percent of the sales that happen happen after the fifth contact, but most reps give up, give up after just two contexts. It takes eight cold calls to reach a prospect and it takes eighteen calls to reach a buyer and frankly, I don't know...

...too many sales people that will make eighteen calls. So putting yourself at a disadvantage. The other thing that I want to focus on, which I see is directly tied to failure in a sales position, is not prioritizing correctly. If you look at the amount of time that sales people spend on non selling related tasks. It's about seventy percent of their time. It's incredible how much time is not even selling. So figuring out setting a priority list, figuring out what the most important things are that are tied to revenue, starting with your fixed appointments and then moving on to anything that you can think of in order to make your numbers, and then everything else that comes up has to be put off for either after hours or another another time in the week. And I always say to sales people start a little earlier, work a little harder and stay a little later. I get it. Not asking for referrals. This is so easy. I am so surprised that how many people don't...

...ask for referrals and they go through a great sales experience. The prospect really gets to know you during this experience and no one asks for the business for a referral. And so what I found is that most of buying decisions do rely on peer recommendation. So this is the best possible situation you can have as a referral. And Eighty three percent of customers are happy to give a referral after after a sales experience, but only twenty nine percent do, because sales people don't ask. So definitely ask for referrals, not asking for the sale. This is a big one too. I see this a lot. You See all these interactions that are going on with the salesperson and the prospect, and most people start closing the sale at the very very end of the sales process, whereas I mean selling is starting to close right at the beginning. And asking for the business. What do I need to do to get the business? What objective do you want to achieve in order for me to...

...get Your Business? So asking for it from the from the very early engagement, and then finally again another obvious one, but I see all the time not having a plan or a goal. I think what happens is companies give you a goal and then you have no specific plan to get to that goal, and there's no way you can be successful without a plan or strategy. And it's got to be specific. It's got a back into your goal so that you feel comfortable that daily, weekly and monthly activities are going to get you to where you need to be. So I think getting in the habit of creating these smaller consumable goals, you'll hit the big one snow. Doubt. Bottom line, if you want to be successful in sales, you have to be committed to the profession. There's not a lot of secrets here. You have to work hard, you have to have a sense of urgency, a positive attitude. You have to know how to listen, have a plan and prioritize your time correctly. It's not easy. Probably the most packed Friday fundamentals ever, full of statistics and insights and data to back up all of these ideas. So this one probably bears listening to two or three more times...

...if you're out there, because there's just so much data. So listen to what Kathleen says. Kathleen, remind us your email address for people that want to reach out to you and want to connect and maybe want to apply to work at rocket trip. Sure it's Kathleen Katchl em at rocket tripcom. Fantastic, and if you're out there and you want to reach me, I'm on Linkedin. Linkedincom forward, slash the word in and then forward. Sam If Jacobs. If you have not rated the salesacker podcast in the itunes store, please do so, as long as it's a four or five. If you have a very negative impression of the podcast. Please keep it to yourself. We are looking for optimism here, as Kathleen is mentioned. Thanks so much to outreach for sponsoring the show, and Kathleen, thanks so much for being on the show this week. It's been great having you as a guest. Thanks Sam. Talk to you soon. Bye, bye.

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