All posts by Husnal Kaur

Sales Coaching

The Impact of Sales Coaching on Sales Results and ROI

Introduction

The purpose of this study is to evaluate the impact of sales coaching on sales results and ROI.

Methods

We evaluated one region of the BDL Company. (9 sales representatives) and tracked sales results before and after coaching interventions.

The coaching interventions consisted of one to two days of field coaching. This coaching focused on observing a sales representative’s performance to a selling skills process in a doctor’s office. This coaching was conducted by Jim Price of TAP Consulting Company. Jim has over twenty years experience in medical and pharmaceutical sales and has logged over 500 hours of sales coaching. Sales representatives were sent out a sample presentation in order to set expectations for the visit.

The measurement of success was the number of referral cards sent in before and after coaching interventions. The referral card is a card the doctor faxes into a surgery center to refer a patient for surgery. We measured number of cards sent in by the group three months prior to training vs the number sent in three months after training. The referral card is an objective measurement of a successful sales call because it is what the representative closes for on each call.

Results

Before the coaching interventions the test group sent in a total of 8 cards. That same group sent in 367 cards after coaching. The average number of cards sent in per representatives was 1 per representative before coaching and 41 per representative after coaching.

The 367 referral cards sent in after coaching yielded 18 surgeries at $4,000 per surgery for a total increase in revenues of $72,000. The cost of the coaching interventions was $12,000 which resulted in a profit of $60,000 and a Return on Investment of 500%.

Conclusion

Coaching interventions conducted by a well trained sales coach impacts sales results and yields a Return on Investment (ROI) of up to 500%. Sales coaching is one of the best investments you can make in your sales team.

“When properly implemented, high ROI values can be achieved with programs on Leadership, Team Building, Management Development, Supervisor Training and Sales Training.” “An ROI of 100% to 700% is not uncommon with this type of training.”

Jack J. Phillips, Ph.D (Training Measurement Key Opinion Leader)

Bio Jim Price

Jim Price has been in the healthcare industry for over eighteen years. His experience encompasses numerous pharmaceutical and surgical sales positions As a practice management consultant, Jim has worked with physicians to improve a variety of practice issues from workflow to marketing. He has also advised hospitals on vendor consolidation and procedure efficiencies.

Most recently, Jim served as Director of North American Training and Development for Novartis Ophthalmics. In this position, he was responsible for the training and development of Sales Representatives and Area Sales Managers for the North American markets.

Currently, Jim provides contract training and consultation services for clients in the pharmaceutical, biotech and medical device industry, including: Novartis Ophthalmics, Pfizer Consumer Health, Alimera Sciences, Alliant Pharmaceuticals, Eisai, NovaVision and Ciba Vision.

As a presenter at The Society of Pharmaceutical and Biotech Trainers, Jim has been able to share his extensive experience with other sales training professionals.

TAP Consulting was created to leverage Jim’s extensive experience in physician/representative interactions. The courses offered by TAP Consulting have been designed specifically for the pharmaceutical and medical industry. Drawing on over 500 physician/rep role plays and feedback gathered from physician focus groups, Jim has been able to translate this knowledge into courses which are real time, actionable and drive results.

TAP offers courses in understanding your physician customer, basic and advanced selling skills, selling with clinical reprints and leadership training. Contact Jim Price for more information on TAP services.

TAP Consulting

Pharmaceutical Sales Training And Performance Consulting

770-596-1498

price56@comcast.net

[http://www.tapconsultingcompany.com]

Article Source: http://EzineArticles.com/1962434

Sales Coaching

Buying Email Lists – Perspective From the Insurance Sales Coach

Are you thinking about buying an email list to increase your insurance sales? Before you make that purchase there are some things you should consider Before you throw money away that could be invested more wisely for a better return. Plus you want to make sure you aren’t getting yourself into legal hot water and potentially huge fines.

It sounds like such a great idea. You could buy a list of 1,000,000 names and then send your sales message to those people. Just think if even 1% of those one million people bought from you, why you’d get 10,000 new clients. Hold the send button email breath it doesn’t exactly work that way.

Exactly how did the company selling you those email addresses get those names? Typically those companies have a website where visitors have to agree to get messages either knowingly or unwittingly from a whole host of other companies in order to get something they want. As an example, during the political campaign season there were banners ads all over the internet you could click on claiming you would get a free t-shirt for your favorite candidate for free.

Once you clicked on the banner ad you went to a website where you had to jump through a bunch of hoops agreeing to get other free gifts from other companies in order to finally get your free t-shirt. So if you did everything you needed to do to get your free t-shirt does that mean you wanted email from those other companies? Not likely.

The legality of this process is tricky and one I’d never personally want to risk. I certainly would never want to jeopardize my personal integrity with the people I hope to work with in this way. The people who got on this list didn’t really agree to opt-in to your email list. They may have opted in so they could get a free gift, but that isn’t the same as opting in to your opt-in email campaign.

That’s exactly what could create a legal or technical nightmare for you. When you send out your email thinking these folks are happy to get your message you might just get a nasty surprise. When some of the big internet service providers get a sudden burst of emails from an unknown sender, you, going to their clients they’ll flag you as a spammer and block all your messages so no one on their service gets them. Your own internet service provider may also flag you as a spammer when they notice that all of a sudden you’re sending a huge number of outgoing messages and they could block you from sending any email messages to anyone through their services. Both of these nasty surprises are a headache and can take a great deal of time and sweat equity to correct. A third nasty surprise is far worse.

Either one of the internet service providers or even an individual email recipient could report you as a CAN-SPAM legislation violator. Guess who bears the burden of proof on that deal. Yep, you guessed it…you.

Even if none of those bad things happened a purchased email list is still a bad investment because they’ll opt-out of your email campaign in huge numbers. Even the ones who don’t opt-out are about as likely to do business with you as you are to win the lottery. So getting a return on your investment will be challenging to put it in the best way I can.

There’s simply no logical reason to buy an email list when you could easily build your own list of highly responsive people who will buy from you. All you need is a one page website, a way to capture information from your visitors, and an offer to give them something they’ll want. Then once you send them the information they asked for they really have opted in to “your” list and you can legally prove it if you ever needed to. Plus you have the opportunity to develop a relationship with this stranger and convert them to a buyer.

Discover how to increase your sales without rejection. [http://increasesalescoach.com/yes.html]

Selling Insurance made easy. Get your free report here. [http://increasesalescoach.com/selling-insurance.html]

Increase Sales Coach Cheryl A. Clausen Gets Results Sales Training Can’t BECAUSE it’s never just a sales issue

Article Source: https://EzineArticles.com/expert/Cheryl_Clausen/56791

Article Source: http://EzineArticles.com/1902441

Sales Coaching

Insurance Sales Coach – The Path to Insurance Sales Success

If you keep doing what you’re told to do you’re doomed. If you’re like 85% of your fellow producers, your career will end within your first 18 months. Of those making it 5 years the majority will burn out and give up. Thus if you keep doing what you’re told to do you aren’t likely to succeed.

Doing what you’re doing now guarantees a life of chasing after prospects who don’t want to talk to you, scraping to cover your bills each month, and living commission check to commission check. Most producers aren’t in the business long enough to even get a residual commission. If you want to eat you have to hunt fresh meat every single day.

While it’s great for the insurance companies if you continually sell new policies to new people it isn’t necessarily so great for you. That’s a hard life few can sustain even if they’re able to generate a livable income. Of course, the livable income is where the wheel comes off the wagon for most.

Many newbies innocently do exactly what they’re told to do by their sales manager because they think the sales manager knows how to succeed in the business. Plus they believe the insurance company wants them to succeed. In other words, you buy into not one but two fallacies. First, the insurance company doesn’t care if you succeed there’s another new agent coming on line to replace you as you read this. Plus if you fail they get to keep all the on-going earnings the policies you wrote generate long after you’re gone.

The second fallacy is your sales manager knows how to succeed in the business. If your sales manager were a super producer that sales manager would have a thriving business and wouldn’t want to be a sales manager. They’re struggling to pay their bills just like you and they think taking on this sales manager’s position will help them cover their expenses.

This is how it is, but it doesn’t have to be that way for you.

This is your business, your future, your family that’s on the line. Take responsibility and follow a path that leads to real insurance success. If you want to develop a successful insurance business one you can both sustain and enjoy there are a few things you’ll need to do. These are the things that will produce a path for your insurance sales success:

  • Discover how to market yourself so the people you want to sell to contact you
  • Narrow your focus and expand your expertise to better meet the needs of a select group of people
  • Develop a message that resonates with what your best buyers want to get, what they want to avoid, or what they want solved
  • Develop automated systems that transition strangers to clients
  • Develop automated systems to earn both repeat business and referrals from existing clients.

 

You see you can’t sell insurance until you know how to sell insurance. You’ll never learn how to sell insurance doing it the way you’re told to do it. You can choose to develop a business that produces real results or you can continue to eke out a bare minimum existence one commission check to the next. You can have your sales manager breathing down your neck or you can have your sales manager chasing after you begging you to tell how you’re producing the results you’re producing. As always the choice is yours.

Discover how to increase your sales without rejection. [http://increasesalescoach.com/yes.html]

Selling Insurance made easy. Get your free report here. [http://increasesalescoach.com/selling-insurance.html]

Increase Sales Coach Cheryl A. Clausen Gets Results Sales Training Can’t BECAUSE it’s never just a sales issue

Article Source: http://EzineArticles.com/1888583

Sales Coaching

Sales Coaching During an Economic Downturn

“You can’t lead anyone else further than you have gone yourself.” – Gene Mauch

Four Critical Tasks for Sales Managers

1. Now, more than ever, sellers need to spend time on prospecting for new business. Sales managers need to set clear expectations with each seller about the need to do more prospecting. But, the manager needs to do more than just set expectations. A down economy is a great time to be more creative in your prospecting. Brainstorm with your sales team about the best products/markets/regions to target in your prospecting efforts.

2. Managers need to spend more time motivating the sales team. It is easy for sellers to get discouraged when customers are slowing down and reducing the frequency and quantity of their orders. Use positive feedback and reinforcement whenever possible. Celebrate a new piece of business. Congratulate a seller who retains a critical piece of business, because a business downturn is when you are most at risk of losing business.

3. Lead by example. Partner with your salespeople at current clients, especially key accounts. Now is the time to go on more joint sales calls, even if the purpose of the call is to simply thank a current customer for their business. Personally get involved in prospecting for new business. Spend some time each week calling or emailing new prospective customers. This will help to motivate the sellers, and shows them that you are willing and able to bring in new business yourself.

4. Influence other departments to get involved in the sales process. STAR has endorsed the concept of team selling for several years, but a down economy is a great time to communicate throughout your organization that everyone, not just the sales team, needs to work extra hard during difficult times. If every person at your company who interacts with current and new customers can do something extra to impress a customer, you will do a better job at customer retention than your competition.

by Bill McCormick

Sales Training And Results, Inc. (STAR) is a sales management training company, providing customized sales training workshops and one-on-one sales coaching and consulting. Visit our website at http://www.salestrainingandresults.com

Article Source: http://EzineArticles.com/1872145

Sales Coaching

Coaching to Win – Is Coaching Part of Your Game Plan?

Whether you are a small business owner or sales manager, you should take advantage of sales coaching. Once a salesperson understands that sales coaching can help them to make more money and have more fun, it’s inevitable that they’ll want to introduce their sales manager or sales trainer to the concept, too. Then it’s up to these potential coaches to decide if they are willing to seriously commit to sales coaching for their salespeople. That’s where the salesperson’s commitment comes into play-can the salesperson show the small business owner, manager or trainer that they will do whatever it takes?-because that’s the first big step in getting their help.

Sales management consists of everything the small business owner and/or sales manager does to develop and grow an effective sales force, including…

· Briefing and debriefing
· Growing salespeople and making them stronger every week
· Being able to motivate salespeople-and keep them motivated
· Holding salespeople accountable
· Finding, hiring, and keeping top performers

The sales manager carries out these functions in various forums, including sales meetings, sales training, the field, and sales coaching sessions. Coaching sessions differ from the other activities in that the focus of coaching is on combining technique reinforcement with one-on-one motivational interaction.

Coaching can be performed by either the sales manager or a sales trainer, although the sales manager must make the final decision as to the length and frequency of each type of session. My own experience has been that each salesperson should receive an hour per week of coaching, in a one-on-one meeting run by the sales manager or trainer, who becomes in this situation-the coach. Some of the areas that should be covered in the sessions are:

Activity.
This includes the quantity and results of dials, walk-ins, contacts, appointments booked, face-to-faces, referrals, and introductions. The coach motivates the salesperson to improve in the necessary areas, as measured against pre-established goals.

Goal Setting.
The coach may permit the salesperson to reduce some of the goals if the salesperson is having trouble achieving them, in an effort to build self-confidence. The goals then would be increased over time to steadily grow the salesperson to higher levels of performance.

Debriefing and briefing.
Debriefs are discussions about the meetings and telephone calls the salesperson made with customers and prospects in the week prior to the coaching session. Briefing is when the coach goes on to ask the salesperson what their next steps will be and how they would handle any scheduled follow-up. If necessary, the coach would work with the salesperson to modify those plans.

Salespeople’s self-esteem.
It’s important that the salesperson is receiving sales training to work on strategy, technique, and behavior. Take the case of a salesperson who just learned that when he approaches a small company in his industry, he should always call on the Chief Executive. Naturally it takes self-confidence to do this, therefore, it is key that the coach complement the training by helping build the salesperson’s self-esteem. Provided that the salesperson demonstrates commitment, the training and coaching will grow the salesperson to the point where he is performing effortlessly in pressure situations.

Future coaching sessions.
I recommend that coaching sessions always be planned out at least four weeks in advance. Sometimes it makes sense to have several shorter sessions each week. Take the case of the salesperson who is having difficulty achieving prospecting goals. Daily sessions of fifteen minutes would put light pressure on the person to achieve their daily goals. This would force the salesperson to avoid putting off their prospecting chores until the next day; after all, procrastination is one of the salesperson’s worst enemies. Daily sessions would also serve to re-inspire that rookie salesperson who is getting beaten up in the field.

If you are a small business owner or sales manager you’re undoubtedly running some sales meetings, but probably not coaching. If you plan to start, congratulations! If not ask yourself this question: If I could find the time and knew how to run quality coaching sessions, would it make a substantial difference in the results I am getting with my sales force?

If your answer is “yes” then what’s stopping you? Start coaching!

If your sales numbers aren’t where you want them to be, visit http://www.gnatraining.com to receive a FREE guest pass to one of our classes! Or call 1-781-848-0993 for more information.

Article Source: https://EzineArticles.com/expert/Greg_Nanigian/83536

Article Source: http://EzineArticles.com/1835332