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Insights
Explore and learn something new with valuable insights on sales transformation, business management and more.
2025
Mercuri International Research
REPORT: Future State of Sales
Future-proofing sales teams: building key competencies and confidence for tomorrow. Explore insights and trends from 591 sales professionals globally
Gartner
REPORT: Accelerate Sales
Essential strategies for Chief Sales Officers going into 2025
Harvard Business Review
ARTICLE: What Salespeople Need from Leaders at Each Stage of Their Careers
Salespeople’s needs evolve throughout their careers, what should you consider as a leader?
Deloitte
REPORT: Global Human Capital Trends
This report aims to help leaders navigate increasingly complex tensions in the worker-organisation relationship for better business outcomes
What are the secrets of Sales Excellence?
Do you often wonder:
How do some companies excel in sales?
What drives their success regardless of sector, size or economic conditions?
Do their stories offer insights that can help replicate their success?
Is Sales Excellence a function of strategy, process, structure or people? One of these? Some of these? All of these? Or is it something more?
What drives sales excellence across organizations irrespective of size, industry, geography and economic conditions?
What makes sales leaders tick?
In search of answers to these questions and more, Mercuri International undertakes periodic worldwide surveys. The latest of these – the Sales Excellence Survey 2017 – commissioned in mid-2016, uncovers some of the secrets of sales excellence from top performing companies across 20 countries and 12 industry categories, involving 926 respondents over 80 percent comprising CEOs and Sales Managers.
Read more in this Mercuri white paper.
How do some companies excel in sales?
What drives their success regardless of sector, size or economic conditions?
Do their stories offer insights that can help replicate their success?
Is Sales Excellence a function of strategy, process, structure or people? One of these? Some of these? All of these? Or is it something more?
What drives sales excellence across organizations irrespective of size, industry, geography and economic conditions?
What makes sales leaders tick?
In search of answers to these questions and more, Mercuri International undertakes periodic worldwide surveys. The latest of these – the Sales Excellence Survey 2017 – commissioned in mid-2016, uncovers some of the secrets of sales excellence from top performing companies across 20 countries and 12 industry categories, involving 926 respondents over 80 percent comprising CEOs and Sales Managers.
Read more in this Mercuri white paper.
Brave new world – what is ‘the new normal’?
In these uncertain times, a lot has been written concerning ‘the new normal’, specifically regarding the topic of working from home. Businesses are rethinking the way that they engage with both colleagues and customers, developing new methodologies to remain productive and profitable.
Among some companies, there is still the feeling that remote working is a poor relation to face-to-face interactions, that once the current situation subsides efforts will be focused on returning to business as usual. More forward-looking businesses are seeing the silver-lining, noting distinct benefits from remote working.
But by focusing solely upon this one issue, maybe we’re missing the bigger picture? Remote working is certainly part of ‘the new normal’, but it’s not the whole story…
Take a step back
If ‘the new normal’ means anything it’s this: that in the business world of 2020 the only constant is change. Yes, the scale of the current challenge is unprecedented (at least in Europe in the last hundred years), but it’s only one of many that companies are facing – and will continue to face. Change itself – and the speed of that change – is the new normal. Technological disruptors, AI, automation, and rapidly evolving buying patterns are changing the nature and future of the workforce faster than ever. In the same way that data usage increases at an exponential rate, year on year, so the speed of technological advance forces us to constantly reassess our techniques and skills at shorter and shorter intervals.
If the current situation has done anything, it is to force us to confront the issue head-on – to realize that if we’re not equipped to pivot, adapting techniques at the same speed as the market evolves, then we won’t remain competitive for long.
Unexpected benefits
We are in the middle of perhaps the largest unplanned social experiment of our time – we’ve been forced into changing our work practices by necessity, not choice, but the companies that will thrive going forward are those that assess their situation now and change their processes accordingly. Two surveys conducted jointly by eConsultancy and Marketing Week (the first on 16th March, the second on 31st March) came to some interesting conclusions:
In the first survey, less than 59% of those working in large enterprises had changed policies relating to remote working, travel, or bonuses. The second survey showed that figure leap to 95%. Companies are adapting – fast – and the disruptive effects of remote working are slowly diminishing:
Survey 1 – productivity affected by travel restrictions/new processes – 60%
Survey 2 – productivity affected by travel restrictions/new processes – 58%
Survey 1 – level of absenteeism in enterprises – 21%
Survey 2 – level of absenteeism in enterprises – 13%
Even more significant is the way that enterprises are monitoring their own processes and learning from the enforced change in working practice. 73% have noticed new ways of working with 44% observing specific processes, both of which they might use post-outbreak.
More than 76% reported innovations that they would deploy going forward, whether in marketing messaging or branding (30%), customer communications (24%), or product or service departments (22%).
The bigger picture
Yes, the above figures refer mainly to remote working, but the more interesting take-away concerns adaptability. Flexibility is a state of mind as much as anything else – companies that can cope with the challenges of adapting to remote working, are also those that can adapt to other, unforeseen situations. The key to success for companies moving forward is to be able to quickly pivot, to accept that the unexpected is part of business life and have the potential to retrain and retask their workforce to deal with any new reality.
In the world of sales, this specifically means adopting new skills. Virtual selling, social selling, and familiarisation with the technologies that can empower personal relationships (when you can’t be there in person) are critical when it comes to maintaining client relationships and developing new prospects. These are skills that are especially applicable in the current situation, but it goes beyond that. As we move to an ever more digital, online existence and as we reassess how often we need to (or should) meet in person, these skills will become of primary rather than secondary importance.
Training = the right tools for the job
Salespeople, by definition, are pretty flexible, used to thinking on their feet and adapting to changes in circumstances to get the very most from a client relationship, but they still need to be given the best tools to get the job done. Training is going to be key – but for training to be successful, it will need to adapt as quickly to the changes in the sales environment. It’s going to need to be flexible, agile, and relevant, with scenarios and skills that meet the specific demands of the market, demands that might change week by week.
It also needs to be delivered in a way that can cope with changes in the trainees’ situation (if, for example, they need to learn from home…), presented in a mobile, modular format that can flow around the recipient’s workload.
It also needs to be engaging – the workforce has to want to learn and develop. This can only be done if they can see a real-world, tangible benefit to their productivity – and their sales figures at the end of the day.
Conclusion
It’s still too early to predict all of the consequences of our current situation, or be certain which of the processes that we use to maintain business momentum will prove to be the most useful, but one thing is certain. The businesses that survive or thrive will be those that demonstrate flexibility, innovative thinking, and show a willingness to embrace the new, while empowering their workforce to do the same.
Remote working, for example, should be seen as an opportunity to review best practice – to rethink how we communicate, how we sell, and the effect of our policies and actions on both our colleagues and broader society. Most companies have a sustainable travel policy, for example, but the current situation has made us question how much we really need to commute to work – and how many of our business trips (though often socially enjoyable) are truly necessary?
The facts and figures regarding the economic downturn might make depressing reading, but the companies who will thrive are those that embrace the new reality and take positive steps to deal not just with the present situation but to learn from it.
By learning, by adapting processes, and by giving training that responds to the demands for new skills – quickly and flexibly – we’ll emerge healthier and more efficient, with a well supported, engaged, and skilled workforce.
Among some companies, there is still the feeling that remote working is a poor relation to face-to-face interactions, that once the current situation subsides efforts will be focused on returning to business as usual. More forward-looking businesses are seeing the silver-lining, noting distinct benefits from remote working.
But by focusing solely upon this one issue, maybe we’re missing the bigger picture? Remote working is certainly part of ‘the new normal’, but it’s not the whole story…
Take a step back
If ‘the new normal’ means anything it’s this: that in the business world of 2020 the only constant is change. Yes, the scale of the current challenge is unprecedented (at least in Europe in the last hundred years), but it’s only one of many that companies are facing – and will continue to face. Change itself – and the speed of that change – is the new normal. Technological disruptors, AI, automation, and rapidly evolving buying patterns are changing the nature and future of the workforce faster than ever. In the same way that data usage increases at an exponential rate, year on year, so the speed of technological advance forces us to constantly reassess our techniques and skills at shorter and shorter intervals.
If the current situation has done anything, it is to force us to confront the issue head-on – to realize that if we’re not equipped to pivot, adapting techniques at the same speed as the market evolves, then we won’t remain competitive for long.
Unexpected benefits
We are in the middle of perhaps the largest unplanned social experiment of our time – we’ve been forced into changing our work practices by necessity, not choice, but the companies that will thrive going forward are those that assess their situation now and change their processes accordingly. Two surveys conducted jointly by eConsultancy and Marketing Week (the first on 16th March, the second on 31st March) came to some interesting conclusions:
In the first survey, less than 59% of those working in large enterprises had changed policies relating to remote working, travel, or bonuses. The second survey showed that figure leap to 95%. Companies are adapting – fast – and the disruptive effects of remote working are slowly diminishing:
Survey 1 – productivity affected by travel restrictions/new processes – 60%
Survey 2 – productivity affected by travel restrictions/new processes – 58%
Survey 1 – level of absenteeism in enterprises – 21%
Survey 2 – level of absenteeism in enterprises – 13%
Even more significant is the way that enterprises are monitoring their own processes and learning from the enforced change in working practice. 73% have noticed new ways of working with 44% observing specific processes, both of which they might use post-outbreak.
More than 76% reported innovations that they would deploy going forward, whether in marketing messaging or branding (30%), customer communications (24%), or product or service departments (22%).
The bigger picture
Yes, the above figures refer mainly to remote working, but the more interesting take-away concerns adaptability. Flexibility is a state of mind as much as anything else – companies that can cope with the challenges of adapting to remote working, are also those that can adapt to other, unforeseen situations. The key to success for companies moving forward is to be able to quickly pivot, to accept that the unexpected is part of business life and have the potential to retrain and retask their workforce to deal with any new reality.
In the world of sales, this specifically means adopting new skills. Virtual selling, social selling, and familiarisation with the technologies that can empower personal relationships (when you can’t be there in person) are critical when it comes to maintaining client relationships and developing new prospects. These are skills that are especially applicable in the current situation, but it goes beyond that. As we move to an ever more digital, online existence and as we reassess how often we need to (or should) meet in person, these skills will become of primary rather than secondary importance.
Training = the right tools for the job
Salespeople, by definition, are pretty flexible, used to thinking on their feet and adapting to changes in circumstances to get the very most from a client relationship, but they still need to be given the best tools to get the job done. Training is going to be key – but for training to be successful, it will need to adapt as quickly to the changes in the sales environment. It’s going to need to be flexible, agile, and relevant, with scenarios and skills that meet the specific demands of the market, demands that might change week by week.
It also needs to be delivered in a way that can cope with changes in the trainees’ situation (if, for example, they need to learn from home…), presented in a mobile, modular format that can flow around the recipient’s workload.
It also needs to be engaging – the workforce has to want to learn and develop. This can only be done if they can see a real-world, tangible benefit to their productivity – and their sales figures at the end of the day.
Conclusion
It’s still too early to predict all of the consequences of our current situation, or be certain which of the processes that we use to maintain business momentum will prove to be the most useful, but one thing is certain. The businesses that survive or thrive will be those that demonstrate flexibility, innovative thinking, and show a willingness to embrace the new, while empowering their workforce to do the same.
Remote working, for example, should be seen as an opportunity to review best practice – to rethink how we communicate, how we sell, and the effect of our policies and actions on both our colleagues and broader society. Most companies have a sustainable travel policy, for example, but the current situation has made us question how much we really need to commute to work – and how many of our business trips (though often socially enjoyable) are truly necessary?
The facts and figures regarding the economic downturn might make depressing reading, but the companies who will thrive are those that embrace the new reality and take positive steps to deal not just with the present situation but to learn from it.
By learning, by adapting processes, and by giving training that responds to the demands for new skills – quickly and flexibly – we’ll emerge healthier and more efficient, with a well supported, engaged, and skilled workforce.
6 practices guaranteed to make you a master presenter
Steve wound up his presentation with a flourish. “Just that my second name isn’t Jobs” he told himself. “But otherwise I came fairly close to the maestro”.
To be fair to Steven, his project presentation to the CEO and the senior leadership had a Jobs-like colour and energy. The slides were brilliant and minimalist. There were arresting videos too, hyperlinked to the slides. Steve took a couple of questions that he responded to in detail. The CEO said nothing. Smiling, she thanked Steve. And as the evaluation group trooped out, she gestured to the CFO and Head HR to stay. “Please ask Precision Consulting to study the work done by Steve and his team and make fresh recommendations” she said to the CFO “That will set back the project by a few weeks and I will have some explaining to do to the Board. But I will handle that”. Turning to Head HR, she asked “Can’t you get our people to make meaningful presentations?” “Shall we run them through a high end program on creative use of Power Point?” enquired the HR Head. The CEO didn’t hide her impatience. “It is much more than Power Point” she exclaimed.
What could she have meant?
Presenters and Master presenters
Meetings, presentations and power point. Your tickets to success? Or corporate karma? It is entirely what you make of them. A ten-minute presentation can transform a bright idea into a brilliant reality and bring life altering success. It can also deliver death by power point.
Your next big deal closure could be just a presentation away. That’s no surprise, as research reveals that people who can speak, listen and interpret better are more influential than their peers who cannot. The skill to craft a compelling presentation and deliver it for high impact can be a huge differentiator. It is easy to see why:
Dropping attention spans – A wealth of information has created a poverty of attention. It’s a constant challenge to sustain the interest of time starved audiences.
Rising competition – Heightened competition within and outside organisations demands ability to present well-crafted solutions with confidence and verve.
Packaging influences decisions – Leaders decide basis facts andthe way they are packaged and presented.
Changing employee expectations – Employees are inspired by leaders who persuade, motivate, energize and influence.
Master presenters are made, not born. Wanting to do well and enjoying it, are all it takes. Like everything great, it needs a healthy mix of competence, anxiety and practice to make a compelling presentation. Here are 6 practices that can transform you into a master presenter.
6 practices to make you a master presenter
Self-awareness –Understand your personality and build winning strategies around your strengths.
Preparation and practice – Behind every powerful presentation, is tireless effort. Here are some pointers to invest your efforts right: Pick your content with audience and objective in mind. Structure neatly. String it with sign posts to make the flow seamless. Effective speakers share 3 – 5 arguments to support their story line and key messages.
Personal projection – Words alone do not communicate, say studies. Messages picked up in communication follow a fascinating break up – Verbal communication – 7%, Voice – 38% and Body language – 55%. How can you put this to use? Watch your decibel quotient and practice to make your voice deep and resonant. A positive, cheerful tone is pleasant to listen to and has been shown to improve attention levels. Vary your speed of delivery and pause, where required, to build cliff hangers. Charge your posture, eye contact, facial expressions, hand movements and body language with energy and confidence. Impact is guaranteed.
Personal projection is about three critical connects:
• Energy connect – Built with body language.
• Emotional connect – Through shared feelings and empathy.
• Intellectual connect – Substance beyond form, the real content.
Presence – This is the aura of confidence and poise a master presenter exudes, even under pressure. It is a personal magnetism born of speaking skills, assertiveness, ability to read an audience or situation, credibility, clarity and conciseness. If that sounds beyond reach, it is good to remember you can get there one step at a time. Stay focused on building your knowledge and skills in presenting to audiences. Draw on your unique talents and gifts. You will grow in competence and feel both self-assured and serene. Add to this mix a dash of personal reflection, practice and coaching from an established master. You have a winning recipe to cultivate your own personal presence.
Story telling – Learn by listening to storytelling sessions. Watch the way good story tellers modulate their voice and use direct speech to weave magic. Use of parables and stories to engage, convince, evangelize or simply make audiences laugh or cry is an ancient art that goes back to the dawn of humanity. It is a skill that can sway business audiences too.*
Simplicity – Be direct and uncomplicated in your thought process and judicious in your choice of words. Communicate in an easy-to-understand language. Cultivate strong domain knowledge, hone your communication skills, respect your audience and their intelligence and listen keenly. Simplicity follows. It takes years of intelligent effort to be simple. And simplicity wins trust of audiences.
In the light of all this, why do you think the Steve in our story was not Jobs?
To be fair to Steven, his project presentation to the CEO and the senior leadership had a Jobs-like colour and energy. The slides were brilliant and minimalist. There were arresting videos too, hyperlinked to the slides. Steve took a couple of questions that he responded to in detail. The CEO said nothing. Smiling, she thanked Steve. And as the evaluation group trooped out, she gestured to the CFO and Head HR to stay. “Please ask Precision Consulting to study the work done by Steve and his team and make fresh recommendations” she said to the CFO “That will set back the project by a few weeks and I will have some explaining to do to the Board. But I will handle that”. Turning to Head HR, she asked “Can’t you get our people to make meaningful presentations?” “Shall we run them through a high end program on creative use of Power Point?” enquired the HR Head. The CEO didn’t hide her impatience. “It is much more than Power Point” she exclaimed.
What could she have meant?
Presenters and Master presenters
Meetings, presentations and power point. Your tickets to success? Or corporate karma? It is entirely what you make of them. A ten-minute presentation can transform a bright idea into a brilliant reality and bring life altering success. It can also deliver death by power point.
Your next big deal closure could be just a presentation away. That’s no surprise, as research reveals that people who can speak, listen and interpret better are more influential than their peers who cannot. The skill to craft a compelling presentation and deliver it for high impact can be a huge differentiator. It is easy to see why:
Dropping attention spans – A wealth of information has created a poverty of attention. It’s a constant challenge to sustain the interest of time starved audiences.
Rising competition – Heightened competition within and outside organisations demands ability to present well-crafted solutions with confidence and verve.
Packaging influences decisions – Leaders decide basis facts andthe way they are packaged and presented.
Changing employee expectations – Employees are inspired by leaders who persuade, motivate, energize and influence.
Master presenters are made, not born. Wanting to do well and enjoying it, are all it takes. Like everything great, it needs a healthy mix of competence, anxiety and practice to make a compelling presentation. Here are 6 practices that can transform you into a master presenter.
6 practices to make you a master presenter
Self-awareness –Understand your personality and build winning strategies around your strengths.
Preparation and practice – Behind every powerful presentation, is tireless effort. Here are some pointers to invest your efforts right: Pick your content with audience and objective in mind. Structure neatly. String it with sign posts to make the flow seamless. Effective speakers share 3 – 5 arguments to support their story line and key messages.
Personal projection – Words alone do not communicate, say studies. Messages picked up in communication follow a fascinating break up – Verbal communication – 7%, Voice – 38% and Body language – 55%. How can you put this to use? Watch your decibel quotient and practice to make your voice deep and resonant. A positive, cheerful tone is pleasant to listen to and has been shown to improve attention levels. Vary your speed of delivery and pause, where required, to build cliff hangers. Charge your posture, eye contact, facial expressions, hand movements and body language with energy and confidence. Impact is guaranteed.
Personal projection is about three critical connects:
• Energy connect – Built with body language.
• Emotional connect – Through shared feelings and empathy.
• Intellectual connect – Substance beyond form, the real content.
Presence – This is the aura of confidence and poise a master presenter exudes, even under pressure. It is a personal magnetism born of speaking skills, assertiveness, ability to read an audience or situation, credibility, clarity and conciseness. If that sounds beyond reach, it is good to remember you can get there one step at a time. Stay focused on building your knowledge and skills in presenting to audiences. Draw on your unique talents and gifts. You will grow in competence and feel both self-assured and serene. Add to this mix a dash of personal reflection, practice and coaching from an established master. You have a winning recipe to cultivate your own personal presence.
Story telling – Learn by listening to storytelling sessions. Watch the way good story tellers modulate their voice and use direct speech to weave magic. Use of parables and stories to engage, convince, evangelize or simply make audiences laugh or cry is an ancient art that goes back to the dawn of humanity. It is a skill that can sway business audiences too.*
Simplicity – Be direct and uncomplicated in your thought process and judicious in your choice of words. Communicate in an easy-to-understand language. Cultivate strong domain knowledge, hone your communication skills, respect your audience and their intelligence and listen keenly. Simplicity follows. It takes years of intelligent effort to be simple. And simplicity wins trust of audiences.
In the light of all this, why do you think the Steve in our story was not Jobs?
Are you talking to or with your online audience? How virtual training goes beyond the webinar…
Let’s start by saying that webinars are great. When it comes to a straightforward, intuitive way to impart complicated information, the combination of audio and visual is hard to beat. Numerous studies have demonstrated that the brain processes information differently depending on whether the learner has a bias to visual or auditory stimuli – a webinar is an efficient way to encompass both channels, leading to potentially greater retention of information.
However, webinars have one main problem. The traffic direction is (apart from specific Q&A sessions) one way only, reducing the potential for meaningful interaction. When it comes to training, we often ‘learn by doing’. The more involved we are with a process – the more the interaction is a dialogue, not a monologue – the better we are able to build practical skills. This is where virtual training comes in.
So what’s the difference?
In essence, webinars are designed to communicate information, whereas virtual training is designed to facilitate learning. Here are the main differences:
Webinars are great for…
Sharing information on a new initiative, updates to a product or solution, or announcing new product releases
Situations where the audience is there to listen – to receive specific facts
Reaching a broad user base
Virtual training is great for…
Teaching and training – where the audience needs to come away with a new or updated skill
Not just ‘explaining’ content, but giving learners plenty of opportunities to reflect on the topic, practice, share ideas and ask questions
Situations which require an active ‘dynamic’ engagement – a back and forth exchange of ideas
Which should I use?
Both webinars and virtual training are an essential part of engaging with your online audience, but best used for different purposes. Knowing which one to employ requires answering these key questions:
What is the objective of the session?
Who is it for?
What do I expect the participants to do during the session: mostly listen or mostly learn?
Once you know who you’re trying to reach – and what you want them to gain from the session – you can decide on which channel suits you best. While most of us are familiar with webinars, virtual training takes things to the next level. It’s important to understand the extra techniques required if your audience is going to get the most from the experience.
Virtual training – best practice
Interactive design
Slides must be of excellent quality, engaging and visually attractive
Must contain a variety of different activities that promote active learning
Prepared facilitator
Someone who knows how to create an environment that promotes dialogue and interaction
Has a strong presence, great paraverbal skills (using appropriate tone of voice, volume, pace), skilled in managing the virtual classroom
Prepared participants: setting expectations
Set the right expectations on content as well as technology. We need to educate participants on how to learn online, set expectations for interaction, and equip them with the skills needed to use the platform.
What are the challenges?
Unless you have some powerful supernatural skills, you probably aren’t able to read the participants’ minds. A more practical problem is that, in a virtual environment, you won’t be able to read their body language. It’s therefore crucial to fully understand how virtual training platforms allow you to measure and encourage engagement and understanding.
Most platforms will have status buttons with icons such as agree/disagree, thumbs up/down, applause, or raise hand to ask questions. Make sure you use them often. It’s essential that the host of the virtual training session is familiar with how these work, so that they can become a natural part of how the session is managed.
Practising for remote training deliveries is like practising for a public speaking engagement: go through the flow of your training exactly as you would in the actual session. It might feel silly to speak to your screen and ask your invisible participants to share comments or questions, but it’s the only way to make it feel like second nature.
Know your audience
Communication traditions and expectations vary greatly across different cultures. This applies both to the tone of communication (how formal it should be, when it’s appropriate to use humour) as well as to the level of interactivity (some learners are more or less talkative or reserved, some are willing to ask questions, some not).
As with all great training, the key is adaptability. While a good virtual training platform (or indeed a good webinar) allows you to effectively reach or engage with a wide audience, it’s still just a channel. Always remember that great training or communication is more than the method by which it’s served – it’s about compelling, relevant scenarios and content.
Put yourself in your audience’s shoes – what’s going to interest you?
What’s going to get you thinking? What’s going to keep you engaged? Your training may be virtual, but your audience is real – give them what they need.
Learn more about Mercuri International’s training solutions, discover our Digital Learning Center
However, webinars have one main problem. The traffic direction is (apart from specific Q&A sessions) one way only, reducing the potential for meaningful interaction. When it comes to training, we often ‘learn by doing’. The more involved we are with a process – the more the interaction is a dialogue, not a monologue – the better we are able to build practical skills. This is where virtual training comes in.
So what’s the difference?
In essence, webinars are designed to communicate information, whereas virtual training is designed to facilitate learning. Here are the main differences:
Webinars are great for…
Sharing information on a new initiative, updates to a product or solution, or announcing new product releases
Situations where the audience is there to listen – to receive specific facts
Reaching a broad user base
Virtual training is great for…
Teaching and training – where the audience needs to come away with a new or updated skill
Not just ‘explaining’ content, but giving learners plenty of opportunities to reflect on the topic, practice, share ideas and ask questions
Situations which require an active ‘dynamic’ engagement – a back and forth exchange of ideas
Which should I use?
Both webinars and virtual training are an essential part of engaging with your online audience, but best used for different purposes. Knowing which one to employ requires answering these key questions:
What is the objective of the session?
Who is it for?
What do I expect the participants to do during the session: mostly listen or mostly learn?
Once you know who you’re trying to reach – and what you want them to gain from the session – you can decide on which channel suits you best. While most of us are familiar with webinars, virtual training takes things to the next level. It’s important to understand the extra techniques required if your audience is going to get the most from the experience.
Virtual training – best practice
Interactive design
Slides must be of excellent quality, engaging and visually attractive
Must contain a variety of different activities that promote active learning
Prepared facilitator
Someone who knows how to create an environment that promotes dialogue and interaction
Has a strong presence, great paraverbal skills (using appropriate tone of voice, volume, pace), skilled in managing the virtual classroom
Prepared participants: setting expectations
Set the right expectations on content as well as technology. We need to educate participants on how to learn online, set expectations for interaction, and equip them with the skills needed to use the platform.
What are the challenges?
Unless you have some powerful supernatural skills, you probably aren’t able to read the participants’ minds. A more practical problem is that, in a virtual environment, you won’t be able to read their body language. It’s therefore crucial to fully understand how virtual training platforms allow you to measure and encourage engagement and understanding.
Most platforms will have status buttons with icons such as agree/disagree, thumbs up/down, applause, or raise hand to ask questions. Make sure you use them often. It’s essential that the host of the virtual training session is familiar with how these work, so that they can become a natural part of how the session is managed.
Practising for remote training deliveries is like practising for a public speaking engagement: go through the flow of your training exactly as you would in the actual session. It might feel silly to speak to your screen and ask your invisible participants to share comments or questions, but it’s the only way to make it feel like second nature.
Know your audience
Communication traditions and expectations vary greatly across different cultures. This applies both to the tone of communication (how formal it should be, when it’s appropriate to use humour) as well as to the level of interactivity (some learners are more or less talkative or reserved, some are willing to ask questions, some not).
As with all great training, the key is adaptability. While a good virtual training platform (or indeed a good webinar) allows you to effectively reach or engage with a wide audience, it’s still just a channel. Always remember that great training or communication is more than the method by which it’s served – it’s about compelling, relevant scenarios and content.
Put yourself in your audience’s shoes – what’s going to interest you?
What’s going to get you thinking? What’s going to keep you engaged? Your training may be virtual, but your audience is real – give them what they need.
Learn more about Mercuri International’s training solutions, discover our Digital Learning Center
Selling in a downturn – Are your teams being trained with the proper tools for the job?
It’s no surprise that sales strategies are having to pivot to meet the changing demands and context of the current market. This is nothing new – adaptability and flexibility have always been key to sales success. However, it’s the speed of market change that is causing such a headache. Whereas before, companies might be adapting on a quarterly basis, recent events have demanded an acceleration of this process, requiring an even higher degree of agility.
It’s still too early to choose the precise term for the predicted economic environment of Q3 and Q4 2020 – many people are arguing the semantics of slowdown, downturn, recession, or depression – but one thing is certain: it’s going to be a challenging year for sales. However, for those companies willing to apply innovative techniques and adapt rapidly, there may well be considerable opportunity.
“Go for the no”
In a recent article for Forbes , John Greathouse, Professor of Practice at UC Santa Barbara, suggested that the priorities of many companies (particularly SMBs) had to shift, with the protection of cashflow even more crucial than usual to ensure business continuity. To do this, businesses would have to adopt a ‘fail fast’ mentality, or, in his own words:
“In good times, SMBs can afford to devote some of their time and resources to landing huge accounts. However, in the new normal, modest-sized businesses need to optimize the velocity of their cash flows, rather than their average deal size.”
John Greathouse
In his article, Greathouse is focusing primarily on SMBs, since larger companies potentially have greater cash reserves upon which to draw, allowing them to take a slightly longer view of the market. However, one thing which is universally applicable is that companies of all sizes have to be prepared to adapt – and fast – if they are to stay relevant.
No train, no gain
2020 is presenting a perfect storm when it comes to rapid market change – copywriters are struggling to come up with synonyms for the word ‘unprecedented’. Whereas a typical ‘eventful’ year might present one game-changing event, 2020 is throwing up multiple challenges. Global health events have not just changed the way we work, with companies scrambling to adapt to remote working while maintaining productivity, but also who we’re selling to, as traditional customers and markets change buying patterns. Add to this an economic slowdown and a commensurate change in budgets, both for consumer and vendor – and it’s going to be an ‘interesting’ year.
As a result of both the rise of remote working and the onset of an economic downturn, sales teams are having to rethink the way that they engage with customers. The techniques now required to do this are, in many cases, different from those traditionally employed. Mercuri has conducted a detailed survey across multiple industries and roles, to discover how business is changing its training strategies and whether or not the skills being promoted are equipping their personnel with the tools they need.
Key findings
Mercuri’s survey looked at a broad range of industries, from finance to pharma, construction to consumer goods, speaking to executives from C-level, sales, HR, and training. Companies varied in size from 50 to over 5000 employees. There were a number of areas where there was general consensus across industries and roles, but others where the difference of opinion was stark.
Overall, there was agreement that training spend was likely to be significantly diminished in 2020, with 45% decreasing their budget, 30% maintaining, and only 5% increasing. However, while budgets might be being reduced, the money that is being spent is being refocused on specific areas. The highest percentage of respondents are looking at a mixture of different formats (57%), with classroom teaching still featured (32%), but a definite interest in virtual live training sessions (47%) and digital training (52%).
In terms of investing in specific training topics, the top three topics that respondents viewed as ‘very important’ when taking an overview of all industries were, in order:
Value based selling
Winning new customers / lead management
Sales leadership
Remote selling and remote leadership came in a close 4th and 5th.
Interestingly, ‘handling change’ only just made the top ten – a surprise, given the rapid and highly unpredictable nature of market evolution in 2020.
Variations by industry and by role
Although there is general consensus about the importance of value based selling and remote sales topics, there is an interesting level of variation when one looks at the data broken down by industry or role:
Key account management was viewed as considerably important by the manufacturing, pharma, construction, and consumer industries, but was kept out of the top five as a result of being almost dismissed by banking, finance, utilities, chemical, logistics, and IT.
Sales management and territory management also figured highly in the training priorities of pharma, banking, and finance, but was relatively underrepresented elsewhere.
The top three training topics, organized by role:
CEO – VBS, winning new customers, key account management / negotiation
Sales director/manager – remote selling, VBS, winning new customers
HR manager/training manager – VBS, sales leadership, product/tech training
Executives across all industries are united in their belief in VBS and the need to win new customers, while CEOs value key account management, Sales directors and managers embrace remote selling, and HR/training are more product oriented.
Remote selling, leadership, and training
It’s clear from the responses that business has indeed embraced the need for new training topics and methodologies that meet the demands of remote working. While this survey is just a snapshot, it does identify that companies have recognized that there is a pressing need for sales techniques that are fit for purpose in the new reality, both in terms of reskilling teams for remotes sales, equipping managers to manage those teams remotely, and also identifying the rise of value based selling as the perfect way to engage with customers in a compelling and engaging way.
A 2020 Mercuri Prosales Research report, collating relevant data from the last decade to the present day, noted that “80% (of Nordic B2Bs) were introducing new sales channels as a result of changes in customer buying behaviours brought on by digitalisation”. This figure, from their 2017 survey, shows that business has always been aware of the need to respond to alterations in purchasing trends – particularly digital – but the question is whether that change has happened fast enough? The events of 2020, both in terms of remote working and the inevitable global slowdown/downturn, have accelerated the need for adaptability – and training is the key to a proactive, rather than reactive, response.
Conclusion
In future posts we’ll be digging into the survey data on a more granular level, but for now here are our general conclusions as to how companies are adapting to the new reality.
There is a consensus that training budgets are going down, but being refocused on specific areas. However, there is some inconsistency in the approach, with feedback differing from different industries and roles, suggesting that business is still in a period of transition.
The jury is still out on which training methodologies and topics businesses feel are going to be critical in the future, but if there is one conclusion to be drawn it is this:
Companies must learn to identify new ways of selling and associated competences fast and have relevant training solutions on hand with which to adapt, if they are to remain competitive. Those which can shorten the time between predicting sales trends, isolating relevant strategies, and training and reskilling accordingly – these will be the companies that thrive in a downturn.
It’s still too early to choose the precise term for the predicted economic environment of Q3 and Q4 2020 – many people are arguing the semantics of slowdown, downturn, recession, or depression – but one thing is certain: it’s going to be a challenging year for sales. However, for those companies willing to apply innovative techniques and adapt rapidly, there may well be considerable opportunity.
“Go for the no”
In a recent article for Forbes , John Greathouse, Professor of Practice at UC Santa Barbara, suggested that the priorities of many companies (particularly SMBs) had to shift, with the protection of cashflow even more crucial than usual to ensure business continuity. To do this, businesses would have to adopt a ‘fail fast’ mentality, or, in his own words:
“In good times, SMBs can afford to devote some of their time and resources to landing huge accounts. However, in the new normal, modest-sized businesses need to optimize the velocity of their cash flows, rather than their average deal size.”
John Greathouse
In his article, Greathouse is focusing primarily on SMBs, since larger companies potentially have greater cash reserves upon which to draw, allowing them to take a slightly longer view of the market. However, one thing which is universally applicable is that companies of all sizes have to be prepared to adapt – and fast – if they are to stay relevant.
No train, no gain
2020 is presenting a perfect storm when it comes to rapid market change – copywriters are struggling to come up with synonyms for the word ‘unprecedented’. Whereas a typical ‘eventful’ year might present one game-changing event, 2020 is throwing up multiple challenges. Global health events have not just changed the way we work, with companies scrambling to adapt to remote working while maintaining productivity, but also who we’re selling to, as traditional customers and markets change buying patterns. Add to this an economic slowdown and a commensurate change in budgets, both for consumer and vendor – and it’s going to be an ‘interesting’ year.
As a result of both the rise of remote working and the onset of an economic downturn, sales teams are having to rethink the way that they engage with customers. The techniques now required to do this are, in many cases, different from those traditionally employed. Mercuri has conducted a detailed survey across multiple industries and roles, to discover how business is changing its training strategies and whether or not the skills being promoted are equipping their personnel with the tools they need.
Key findings
Mercuri’s survey looked at a broad range of industries, from finance to pharma, construction to consumer goods, speaking to executives from C-level, sales, HR, and training. Companies varied in size from 50 to over 5000 employees. There were a number of areas where there was general consensus across industries and roles, but others where the difference of opinion was stark.
Overall, there was agreement that training spend was likely to be significantly diminished in 2020, with 45% decreasing their budget, 30% maintaining, and only 5% increasing. However, while budgets might be being reduced, the money that is being spent is being refocused on specific areas. The highest percentage of respondents are looking at a mixture of different formats (57%), with classroom teaching still featured (32%), but a definite interest in virtual live training sessions (47%) and digital training (52%).
In terms of investing in specific training topics, the top three topics that respondents viewed as ‘very important’ when taking an overview of all industries were, in order:
Value based selling
Winning new customers / lead management
Sales leadership
Remote selling and remote leadership came in a close 4th and 5th.
Interestingly, ‘handling change’ only just made the top ten – a surprise, given the rapid and highly unpredictable nature of market evolution in 2020.
Variations by industry and by role
Although there is general consensus about the importance of value based selling and remote sales topics, there is an interesting level of variation when one looks at the data broken down by industry or role:
Key account management was viewed as considerably important by the manufacturing, pharma, construction, and consumer industries, but was kept out of the top five as a result of being almost dismissed by banking, finance, utilities, chemical, logistics, and IT.
Sales management and territory management also figured highly in the training priorities of pharma, banking, and finance, but was relatively underrepresented elsewhere.
The top three training topics, organized by role:
CEO – VBS, winning new customers, key account management / negotiation
Sales director/manager – remote selling, VBS, winning new customers
HR manager/training manager – VBS, sales leadership, product/tech training
Executives across all industries are united in their belief in VBS and the need to win new customers, while CEOs value key account management, Sales directors and managers embrace remote selling, and HR/training are more product oriented.
Remote selling, leadership, and training
It’s clear from the responses that business has indeed embraced the need for new training topics and methodologies that meet the demands of remote working. While this survey is just a snapshot, it does identify that companies have recognized that there is a pressing need for sales techniques that are fit for purpose in the new reality, both in terms of reskilling teams for remotes sales, equipping managers to manage those teams remotely, and also identifying the rise of value based selling as the perfect way to engage with customers in a compelling and engaging way.
A 2020 Mercuri Prosales Research report, collating relevant data from the last decade to the present day, noted that “80% (of Nordic B2Bs) were introducing new sales channels as a result of changes in customer buying behaviours brought on by digitalisation”. This figure, from their 2017 survey, shows that business has always been aware of the need to respond to alterations in purchasing trends – particularly digital – but the question is whether that change has happened fast enough? The events of 2020, both in terms of remote working and the inevitable global slowdown/downturn, have accelerated the need for adaptability – and training is the key to a proactive, rather than reactive, response.
Conclusion
In future posts we’ll be digging into the survey data on a more granular level, but for now here are our general conclusions as to how companies are adapting to the new reality.
There is a consensus that training budgets are going down, but being refocused on specific areas. However, there is some inconsistency in the approach, with feedback differing from different industries and roles, suggesting that business is still in a period of transition.
The jury is still out on which training methodologies and topics businesses feel are going to be critical in the future, but if there is one conclusion to be drawn it is this:
Companies must learn to identify new ways of selling and associated competences fast and have relevant training solutions on hand with which to adapt, if they are to remain competitive. Those which can shorten the time between predicting sales trends, isolating relevant strategies, and training and reskilling accordingly – these will be the companies that thrive in a downturn.
Successful Social Selling
The office environment is dominated by a tense silence. All of the sales representatives are sitting at their desks, gazing mesmerized at their monitors and typing with great concentration on their keyboards.
The sales manager smiles as he walks past the rows of employees, checks the CRM system and notes that none of his colleagues have a meeting today and will not be out of the office. He sits back in his chair, pleased with himself that his new strategy is working.
Read more in this Mercuri white paper.
The sales manager smiles as he walks past the rows of employees, checks the CRM system and notes that none of his colleagues have a meeting today and will not be out of the office. He sits back in his chair, pleased with himself that his new strategy is working.
Read more in this Mercuri white paper.
Handy-KAM
So you’ve mastered Value Based Selling and landed a major customer. Now what? Welcome to the world of Key Account Management.
“KAM, SAM, GAM” – the world of account management does love an acronym. But once you get past the ‘key’, ‘strategic’, and ‘global’ prefixes, it pretty much all equates to the same thing.
These are the clients that matter.
They matter because the top performing accounts bring in a disproportionate amount of revenue, drive growth and – above all – are already your clients. Field sales is an important part of your business, but the cost of bringing in new clients (and the chances of doing so) should always come second to nurturing and developing the clients you already have.
Why? Because (at best estimate) your top 20% will bring in 80% of revenue. And if you want to sell premium products, who is going to buy them? The customers who already know you…
So, in short, key accounts matter.
Building relationships
Broadly speaking, Key Account Managers will employ a range of skills which are also applicable to sales in general, but it is the focus that is the central difference. Every successful sales team has learnt to be customer focused, but with key accounts there is a level of detail and care that needs to be taken to the next level, if a client is to be nurtured and made to feel special.
Interestingly, key accounts might not be mostly about sales. Or rather, for a good key account manager, sales are ‘just’ a (highly desirable) inevitable result. No, Key Account Management is more about relationships, or rather how to build them. A recent study* of sales executives found that, in terms of importance, these were the top 3 outcomes:
“Our relationships with key customers have improved”
“Our customer satisfaction ratings with customers have gone up”
“Our retention of key customers has improved”
Notice that none of these were focused on outcomes in terms of P&L, KPIs, or any other metrics – it was all about relationships. And this makes sense. At the risk of bringing Kevin Costner into any sensible discussion, “build it and they will come” is fundamental to an understanding of a good KAM process. Sales can almost be seen as an inevitable (and happy) by-product of a good relationship with a client. But it’s that way round – relationship leads to sales, not the other way around.
Let’s get personal
So it all comes down to relationships. We need to build a personal and business to business bond with customers that goes beyond our own product knowledge and forms a genuine connection. Much of this is based on skills which are the foundation of a good sales technique, but to make the leap from account to key account takes an additional level of expertise.
Key Account Management demands a level of discovery, research, and above all empathy with the customer that places it at a different level from conventional sales. Think of it as Value Based Selling on steroids, where you don’t just have an understanding of a customer’s pain points and plans, but you actually feel the pain and contribute to the gains.
And to get to this level? Well, it doesn’t just happen. But it should. Consider this – 71% of customers feel no particular bond with their vendors, while 11% are actively looking to change supplier. Given that it’s been noted that a 5% increase in customer retention can lead to a 25% increase in revenues…why are we not all putting huge efforts into training our sales executives to retain before they bring in new leads?
And given that, which are the customers that you want to retain? Well, the key ones.
A low key approach
So you really want to know how to identify, nurture, and lock down these key account customers? Well, to be honest, there’s no magic bullet. Unfortunately, like most things, it means taking a hard look at process, a rigorous approach to training, and a flexible, modular training strategy to bring the very best out of your potential key account managers…
But luckily…
Want to know more about Mercuri International’s Key Account Management Learning Path and how else we can help with your sales training? Contact Us
These are the clients that matter.
They matter because the top performing accounts bring in a disproportionate amount of revenue, drive growth and – above all – are already your clients. Field sales is an important part of your business, but the cost of bringing in new clients (and the chances of doing so) should always come second to nurturing and developing the clients you already have.
Why? Because (at best estimate) your top 20% will bring in 80% of revenue. And if you want to sell premium products, who is going to buy them? The customers who already know you…
So, in short, key accounts matter.
Building relationships
Broadly speaking, Key Account Managers will employ a range of skills which are also applicable to sales in general, but it is the focus that is the central difference. Every successful sales team has learnt to be customer focused, but with key accounts there is a level of detail and care that needs to be taken to the next level, if a client is to be nurtured and made to feel special.
Interestingly, key accounts might not be mostly about sales. Or rather, for a good key account manager, sales are ‘just’ a (highly desirable) inevitable result. No, Key Account Management is more about relationships, or rather how to build them. A recent study* of sales executives found that, in terms of importance, these were the top 3 outcomes:
“Our relationships with key customers have improved”
“Our customer satisfaction ratings with customers have gone up”
“Our retention of key customers has improved”
Notice that none of these were focused on outcomes in terms of P&L, KPIs, or any other metrics – it was all about relationships. And this makes sense. At the risk of bringing Kevin Costner into any sensible discussion, “build it and they will come” is fundamental to an understanding of a good KAM process. Sales can almost be seen as an inevitable (and happy) by-product of a good relationship with a client. But it’s that way round – relationship leads to sales, not the other way around.
Let’s get personal
So it all comes down to relationships. We need to build a personal and business to business bond with customers that goes beyond our own product knowledge and forms a genuine connection. Much of this is based on skills which are the foundation of a good sales technique, but to make the leap from account to key account takes an additional level of expertise.
Key Account Management demands a level of discovery, research, and above all empathy with the customer that places it at a different level from conventional sales. Think of it as Value Based Selling on steroids, where you don’t just have an understanding of a customer’s pain points and plans, but you actually feel the pain and contribute to the gains.
And to get to this level? Well, it doesn’t just happen. But it should. Consider this – 71% of customers feel no particular bond with their vendors, while 11% are actively looking to change supplier. Given that it’s been noted that a 5% increase in customer retention can lead to a 25% increase in revenues…why are we not all putting huge efforts into training our sales executives to retain before they bring in new leads?
And given that, which are the customers that you want to retain? Well, the key ones.
A low key approach
So you really want to know how to identify, nurture, and lock down these key account customers? Well, to be honest, there’s no magic bullet. Unfortunately, like most things, it means taking a hard look at process, a rigorous approach to training, and a flexible, modular training strategy to bring the very best out of your potential key account managers…
But luckily…
Want to know more about Mercuri International’s Key Account Management Learning Path and how else we can help with your sales training? Contact Us
5 keys to unleash post merger sales synergies
”You will now sell together”. In many a merger, the sales teams are introduced to each other with this brief message. And with that it is assumed that the sales teams will come together automatically and sell as one. After all sales is the same everywhere and salespeople ought to understand each other even if they are from different companies. Such a simplistic approach however, tends to overlook the complex dynamics in a merger. Challenges could include:
Mergers typically create anxiety in the salesforce.
Back office systems supporting sales may require reconstruction.
Selling should go on and customer care cannot slacken, even as the merger is underway.
Top notch salespeople and premium customers become targets of competition.
Here are five keys to unleashing sales synergies when sales teams are integrated in a merger:
1. Communicate continuously
Mergers often create anxiety as people worry about how the changes will impact them and where they would fit in. The best antidote to anxiety is regular communication of reliable information.
Communicate early and do it regularly – Share as much information as possible with your salespeople. Frequently, many post merger companies do the exact opposite. It would be wrong to assume that sharing information might discourage the teams or that they will anyway come to know on their own.
Involve salespeople in the integration process – The usual assumption is that salespeople are most effective when their focus is on Customers, revenue targets and compensation. So merging companies sometimes reason that they shouldn’t bother the salespeople with organisational matters. This assumption can be a serious mistake. Saleswork depends heavily on how sales is structured in a company. Confusion on the sales structure, customer engagement rules and operational details can be devastating to sales effectiveness. More than in any other situation, in a merger, the salespeople should have a good insights into the organisational and operational changes so that they are well equipped to soothe Customer anxieties, if any, and ensure retention of all key clients. It is also important to constantly update the salesforce on internal developments, personal changes, account relations and compensations to win and retain their trust.
2. Articulate a compelling vision
Keeping the salespeople constantly updated on matters of immediate concern to them is important in a merger. What could be even more critical to the success of the merger is a clear understanding of post merger direction of the company and sales operation.
Communicate a compelling vision of the exciting post merger outcomes in terms of changes to core business, client relations, financial results and customer experience. Use this as an opportunity to create a context to set meaningful goals for the sales teams towards a seamless transition.
To be effective, ensure that the post merger vision is articulated by the managers in direct conversation with their teams and is not relegated to impersonal mails.
3. Set the pace early
Getting off the block quickly can make a big difference to post merger sales synergies. A slow start is not only uninspiring, it can neutralise the benefits of the merger. It has been shown that sales organisations that manage a swift integration are more likely to reap the benefits of the merger earlier. Setting the pace early on, will mean:
Plan and place sales representatives in favourable positions notwithstanding the organisational glitches which are a normal part of any integration.
Sales managers and executives to step in and make sure that salespeople have the tools necessary to succeed, till the sales support systems integrate and stabilize.
4. Build on quick wins
During the first months following a merger, it is absolutely critical for the sales teams to crack some large deals. This will help the merged sales-force experience and buy into the benefits of ’hunting together as a bigger pack’. Following actions can make this happen:
Facilitate victories – The preparation leading up to early successes may not exactly represent how the sales operations will work post the merger. But you need to facilitate victories to build momentum. If this means allocating resources that you normally wouldn’t, it is still a worthwhile investment.
Support your top salespeople – Identify your top salespeople and support them through the transactions they are working on. Line up the technical and product development resources necessary to help their transactions come through. And consider what performance incentives might strengthen your mission.
Leverage the ’small wins’ – Other than large transactions, you should also identify some ’small wins’ that the merged team can celebrate. Typically, these are sales that both merging companies have a history of executing with a high success rate. These transactions, though not large, provide an accessible entry point for your salespeople into the new structure that is emerging, which will eventually shape the identity of your sales organisation.
5. Prepare to improvise
Sales teams need back office systems to be in place. They require well-oiled processes, especially in areas like IT and Finance, in order to successfully execute deals. Inadequacies in support systems can adversely affect order execution capabilities of the sales force. Unfortunately, in the early days of a merger, back office systems may not be hundred percent perfect as they need time to integrate and stabilize the new sales architecture. So how do you maintain the early sales momentum even though the support system may not be fully ready yet?
Improvise to keep the sales engine running, till support systems stabilize. Consider the following actions:
Find temporary solutions –The objective is to bridge the gap between the support and sales teams till back office systems are up and running full throttle. They could be makeshift structures but they should be good enough to last the entire transition period.
Solutions should cover all critical sales requirements – Sales reps should be equipped to make forecasts, secure pricing approvals, handle exceptions or priority orders. This is just a sample of important requirements. The list can be longer for companies based on size and complexity of operations.
Ensure solutions are available from the start – Over time, as support systems stabilize, the makeshift structures may get phased out, but they need to be available right from the start of the merger process so that sales are insulated from merger related hiccups.
A carefully planned merger of sales teams can unleash synergies that are much bigger than the sum of its parts.
Action Nuggets
Communicate continuously
Articulate a compelling vision
Set the pace early
Build on quick wins
Prepare to improvise
Mergers typically create anxiety in the salesforce.
Back office systems supporting sales may require reconstruction.
Selling should go on and customer care cannot slacken, even as the merger is underway.
Top notch salespeople and premium customers become targets of competition.
Here are five keys to unleashing sales synergies when sales teams are integrated in a merger:
1. Communicate continuously
Mergers often create anxiety as people worry about how the changes will impact them and where they would fit in. The best antidote to anxiety is regular communication of reliable information.
Communicate early and do it regularly – Share as much information as possible with your salespeople. Frequently, many post merger companies do the exact opposite. It would be wrong to assume that sharing information might discourage the teams or that they will anyway come to know on their own.
Involve salespeople in the integration process – The usual assumption is that salespeople are most effective when their focus is on Customers, revenue targets and compensation. So merging companies sometimes reason that they shouldn’t bother the salespeople with organisational matters. This assumption can be a serious mistake. Saleswork depends heavily on how sales is structured in a company. Confusion on the sales structure, customer engagement rules and operational details can be devastating to sales effectiveness. More than in any other situation, in a merger, the salespeople should have a good insights into the organisational and operational changes so that they are well equipped to soothe Customer anxieties, if any, and ensure retention of all key clients. It is also important to constantly update the salesforce on internal developments, personal changes, account relations and compensations to win and retain their trust.
2. Articulate a compelling vision
Keeping the salespeople constantly updated on matters of immediate concern to them is important in a merger. What could be even more critical to the success of the merger is a clear understanding of post merger direction of the company and sales operation.
Communicate a compelling vision of the exciting post merger outcomes in terms of changes to core business, client relations, financial results and customer experience. Use this as an opportunity to create a context to set meaningful goals for the sales teams towards a seamless transition.
To be effective, ensure that the post merger vision is articulated by the managers in direct conversation with their teams and is not relegated to impersonal mails.
3. Set the pace early
Getting off the block quickly can make a big difference to post merger sales synergies. A slow start is not only uninspiring, it can neutralise the benefits of the merger. It has been shown that sales organisations that manage a swift integration are more likely to reap the benefits of the merger earlier. Setting the pace early on, will mean:
Plan and place sales representatives in favourable positions notwithstanding the organisational glitches which are a normal part of any integration.
Sales managers and executives to step in and make sure that salespeople have the tools necessary to succeed, till the sales support systems integrate and stabilize.
4. Build on quick wins
During the first months following a merger, it is absolutely critical for the sales teams to crack some large deals. This will help the merged sales-force experience and buy into the benefits of ’hunting together as a bigger pack’. Following actions can make this happen:
Facilitate victories – The preparation leading up to early successes may not exactly represent how the sales operations will work post the merger. But you need to facilitate victories to build momentum. If this means allocating resources that you normally wouldn’t, it is still a worthwhile investment.
Support your top salespeople – Identify your top salespeople and support them through the transactions they are working on. Line up the technical and product development resources necessary to help their transactions come through. And consider what performance incentives might strengthen your mission.
Leverage the ’small wins’ – Other than large transactions, you should also identify some ’small wins’ that the merged team can celebrate. Typically, these are sales that both merging companies have a history of executing with a high success rate. These transactions, though not large, provide an accessible entry point for your salespeople into the new structure that is emerging, which will eventually shape the identity of your sales organisation.
5. Prepare to improvise
Sales teams need back office systems to be in place. They require well-oiled processes, especially in areas like IT and Finance, in order to successfully execute deals. Inadequacies in support systems can adversely affect order execution capabilities of the sales force. Unfortunately, in the early days of a merger, back office systems may not be hundred percent perfect as they need time to integrate and stabilize the new sales architecture. So how do you maintain the early sales momentum even though the support system may not be fully ready yet?
Improvise to keep the sales engine running, till support systems stabilize. Consider the following actions:
Find temporary solutions –The objective is to bridge the gap between the support and sales teams till back office systems are up and running full throttle. They could be makeshift structures but they should be good enough to last the entire transition period.
Solutions should cover all critical sales requirements – Sales reps should be equipped to make forecasts, secure pricing approvals, handle exceptions or priority orders. This is just a sample of important requirements. The list can be longer for companies based on size and complexity of operations.
Ensure solutions are available from the start – Over time, as support systems stabilize, the makeshift structures may get phased out, but they need to be available right from the start of the merger process so that sales are insulated from merger related hiccups.
A carefully planned merger of sales teams can unleash synergies that are much bigger than the sum of its parts.
Action Nuggets
Communicate continuously
Articulate a compelling vision
Set the pace early
Build on quick wins
Prepare to improvise
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Whatever the challenge, Mercuri International has a learning path for you. Need a customized solution? Contact us to make it happen
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