Concern… anxiety… fear of limitations. These are common reactions from small business owners and founders when I recommend implementing sales processes. They are concerned that a process-driven sales organization will stifle creativity and innovation. They also express concern that processes will make their company less nimble and agile. In a word, they are concerned about […]
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Do You Drive Customer Success?
Posted by David Wallace on November 12, 2021
Many companies focus on marketing and sales. After all, marketing helps you understand on your markets, find prospects, and communicate your message so that they become receptive to your products and services. Sales uncovers prospects’ needs, develops solutions and drives revenue by applying those solutions to meet the customers’ needs. However, once the sale is […]
Read MoreBase Salary + Commission – What’s the Optimal Mix?
Posted by David Wallace on September 14, 2021
The debate is ongoing about what percentage of total compensation should be base vs. commissions. Ideally, you want to pay enough base salary so that your sales rep doesn’t need to worry about meeting basic obligations such as food, rent/mortgage and car payments. But you want to avoid paying too much. You don’t want your […]
Read MoreSales Compensation Plans – Why Pay a Base Salary?
Posted by David Wallace on September 1, 2021
I see many postings by companies looking to hire sales professionals on straight commission. Their logic is that if a sales representative is good, the rep will have no problem “eating what they kill.” Sounds too good to be true, huh? Well it is, because you usually “get what you pay for.” Let’s look closely […]
Read MoreDo Your Sales Reps Have a Sales Strategy?
Posted by David Wallace on August 10, 2021
Your company’s sales strategy is complete. You’ve identified the market segments and the types of companies you want to reach. You know what offerings you want to sell. You’ve got a clear message. All your sales tools and marketing programs are in place. You’re ready to go. But what about your sales reps? Without them […]
Read MoreUse Marketing to Supercharge Your Sales Engine!
Posted by David Wallace on July 27, 2021
I’ve seen it many times. Perhaps you have too. Sales teams can’t find the business they know is out there. They can’t reach their prospects. Or, they reach prospects who never become customers. Or, their message is not compelling enough to get through. Often, the problem isn’t with sales. The problem is poor marketing. In […]
Read MoreGreat Sales Teams Need Great Tools
Posted by David Wallace on July 21, 2021
Great sales teams have great support! Support means more than just a good product, a phone list and a commission plan. Great support provides your sales team with the tools they need to sell effectively – goals, plans, training, systems, processes, and collateral, to name just a few. At Wallace Management Group, we work with […]
Read MoreGoals, Strategy, Execution
Posted by David Wallace on July 13, 2021
Many companies succeed by doing what has always worked for them… Until it no longer works. Markets change. You can too. Successful businesses define clear, measurable goals and develop strategies to achieve those goals. They plan and focus their team. Successful businesses target the right markets, the right customers and sell the right products and services […]
Read MoreKnowledge Your Sales Reps Need to Succeed
Posted by David Wallace on July 6, 2021
In my last two posts, I’ve discussed the need to assess traits and skills when hiring new sales reps. A third factor is knowledge. Successful sales reps must know your company, products and markets. Knowledge is learned through training, experience and self education. Typically, I place more emphasis on the candidate’s knowledge base when the […]
Read MoreSkills to Look for in Sales Reps
Posted by David Wallace on June 29, 2021
The skills every sales representative needs are basic selling skills: Prospecting Qualifying prospects Presenting Managing objections Closing, and Following up More advanced sales skills that should be developed in your experienced sales reps include: Solution selling Relationship selling Partnership sales Managing territories Managing customers Managing the competition Planning And so on Experienced sales representatives should have […]
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