On this week in sales we’ll be looking at:
- How only 75% of revenue leaders feel “somewhat” effective at training their salespeople
- What data storytelling is and how it can help you win more business
- How Hyundai has automated the nagging car salesman
And much more!
This Week In Sales hosts:
75% of revenue leaders feel “somewhat” effective at training their salespeople, while 17% say they’re not effective all.
The top four problems revenue leaders are trying to solve include:
- Onboarding new salespeople (67%);
- Addressing a salesperson’s need for training or addressing a skill deficiency (40%);
- Bringing underperforming salespeople up to an acceptable performance level (39%); and
- Supporting a change in sales messaging (37%).
It’s Time To Crack The B2B Sales Gender Diversity Code
Although women make up more than half of the global workforce, they represent fewer than one-third of all B2B sales and one-quarter of all B2B tech sales roles.
And when it comes to the coveted top sales jobs, women hold only 12% of those positions.
While gender diversity in B2B sales is severely lacking, company profits are close to 50% higher when women are well-represented at executive levels.
And when women lead sales teams, they deliver higher win and quota attainment rates than their male counterparts…
Customer analytics firms merge to take on Salesforce, Adobe
Manthan Systems and RichRelevance, vendors specializing in customer analytics, recently merged to bring together AI-fueled insights with expertise in global retail.
Two small customer analytics vendors merged on Jan. 19 to form Algonomy, an alternative to CRM giants Salesforce and Adobe that offers a customer data platform built on augmented intelligence and machine learning to provide insights in real time.
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Data storytelling a key part of Yellowfin analytics platform
Yellowfin was one of the first business intelligence vendors to add data storytelling capabilities to its platform, and now Yellowfin is attempting to extend the reach of analytics to more users with its narratives.
Data storytelling is automatically generated interpretation of data put in a narrative form rather than a straight analysis, to make it easier to understand and digest.
Given the easy-to-understand format, some tech observers think the technology has the potential to revolutionize analytics extending its reach within an organization from an estimated 20% to 40% of employees to nearly all of them.
New sales term: Multi-threading
Multi-threaded sales are deals where your sales team has connected with multiple decision-makers on the purchasing side.
A single-threaded sales relationship only lasts as long as your champion remains at the company, which in today’s world isn’t very long at all. In his latest research, management strategist Dr. John Sullivan reveals that 70% of people quit their jobs within two years. It’s become a part of life—especially among millennial employees.
- Since 32% of employers now expect job-jumping, sales reps and teams should follow suit and plan accordingly, preparing for the effects of turnover at each client company.
- In the 2018 Bridge Report, it shows that the average tenure for sales reps is 1.5 years. Not bad—until you consider it takes the average sales rep between 3.2 and 5.3 months to ramp up to productivity.
Hyundai Automates The Nagging Car Salesman
Hyundai named the cute little robot DAL-e. But never mind the shameless Disney/Pixar reference, because that automaton has been programmed for one single task: to sell you a car.
The South Korean carmaker described the robot as follows:
It is accoutered with friendly, emotive physical features for close interactions with customers. In the event that a customer enters the showroom without wearing a mask, the android recognizes it and advises the customer to wear one. In terms of its communication capability, it can engage in an automated and smooth dialogue with customers by providing useful information on products and services and responding to verbal and screen touch commands.
Another blow to co-working spaces
Can co-working spaces survive the pandemic? New-York based coworking provider Knotel — which had become a fierce competitor to WeWork — filed for Chapter 11 bankruptcy protection in the U.S. earlier this week, opting to be taken over by Newmark Group.
That comes as a steep drop in office demand is hurting a number of short-term rental businesses, which typically allow customers to get out of their contracts. Several entities tied to IWG’s office-suites locations are shutting, and WeWork continues to lose money as it remains in talks to go public.