Bank Sales Corner

7 Mistakes Sales Managers Make in Tough Times

  

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When times are tough, Sales Managers often succumb to tactics that can actually undermine their chances for success. Here are 7 mistakes to avoid:

1. Assuming that it’s about making more calls: Yes, your team has to be on the streets. But be sure that people are calling on the right customers and prospects. Rowing faster doesn’t always get you where you need to go.
2. Placing too much attention to the bottom end of the funnel: When opportunities are scarce, it’s natural to do everything you can to close business. Forgetting about lead generation is dangerous. Keep reminding your team to spend time identifying and cultivating customers, prospects and COIs for the leads that will be next quarter’s (and next year’s) closed business.
3. Playing, not coaching: If you got where you are because of your business development prowess—which is pretty common in all sales organizations—you may be tempted to don your Supersalesman cape. Most Producing Sales Managers spend too much time selling and not enough time coaching.
4. Becoming more bureaucratic: Tough environments give rise to more forms. If you have the three essential reporting tools up and running (a weekly call planner, a pipeline, and a closed business report) don’t go crazy with more reports. Spend more time analyzing what the data you’re already collecting tells you about how you can help your salespeople.
5. Sending too many (often conflicting) messages: Most of us ADD types can only handle a few directives at one time. Beware of message overload. (And it’s OK to repeat yourself.)
6. Scrapping all sales training: If your professional development budget evaporates, get creative. Pull out the sales workbooks and design something on prospecting. Splurge on a webinar on generating referrals from CPAs. Now more than ever is the time to focus on improving people’s skills.
7. Failing to celebrate the small victories: Did Kevin finally get in to see a prime prospect? Celebrate. Did Susan get a chance to bid on a lucrative cash management account with one of her prospects? Celebrate. Was Andy able to get a long time business customer to move some of his personal investments to you? Celebrate.

To receive a copy of a recent article entitled “Driving the Prospecting Process: 7 Tips for Sakes Managers” go to http://www.mzbierlyconsulting.com/coaching-the-prospecting-process-tips-for-sales-managers

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