Wednesday, 28 November 2012

What's Ahead for Sales Organizations in 2013?

How clearly do you see the road ahead? When we are driving down the highway, we notice that, the faster we go, the more the view blurs – yet the dashboard is clear and bright.

This also applies to sales leaders. While the speed of change accelerates, many sales leaders become confused by the rapid shifts in buying behaviors. While some customers act as if they’re in a boom cycle, other customers react and prepare for tougher times in the road ahead.

As we plan for 2013, salespeople demand more clarity of vision from their sales leaders. An overarching vision has three elements:

1. A guiding vision. It begins with an accurate appraisal of the present. Salespeople want to know the answer to these questions: Where are we now? What are our strengths? What makes us vulnerable? What threats are we facing?

2. A guiding fiction. Nobody can predict the future, but effective leaders have an uncanny ability to direct followers to imagine and find the best opportunities in the market. Uncertain times demand leaders who can stimulate the imagination so their followers can focus clearly on winning more business month after month. The best leaders are merchants of hope.

3. A guiding process. Salespeople need a continuously improved and accelerated process for everything from generating leads to closing the sale. Successful sales leaders need to constantly realign people, process, and technology. 

In many companies, there are as many sales processes as there are salespeople. World-class sales organizations follow a process that’s based on A) the know-how of their best salespeople and B) how customers want to buy. Many sales leaders believe that their well-thought-out sales process reflects the customer’s journey.  So in this issue, we’ve included a special insert that contains the Sales Force Effectiveness Navigator™, created by ZS Associates. Here, you’ll find a complete blueprint for optimizing sales performance at all levels.

While the economy continues to challenge, confuse, and surprise decision makers, effective sales leaders ignore the noise on the sidelines and get busy improving sales productivity across the organization. According to a survey performed by the SalesOpShop, sales leaders’ top two priorities for 2013 are 1) increasing topline growth and 2) improving the sales process. To achieve these goals, sales leaders need to become more innovative when aligning people, process, and technology.

The challenge in most organizations is that people are often too slow, processes are often too old, and technology is often too complex. To meet that challenge, we need to invest 60 percent of our effort in helping people change, 30 percent in improving our processes, and 10 percent in implementing simpler and better technology. The key to winning in 2013 depends on expanding the innovative capabilities of the organization.

Albert Einstein once said that imagination is more important than knowledge, because knowledge tells us what was, whereas imagination tells us what will be. What will be in 2013 depends on adaptive and creative sales leaders, who drive people’s capacity to change and lead them to execute on a customer-focused process that’s accelerated by the best technology available. Success is the result of what you believe you can achieve.

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The 50 Best Companies to Sell for Now

For the twelfth year, the corporate research team at Selling Power has identified and ranked the best companies to sell for among the largest sales forces in the United States.

Our focus primarily remains on companies with sales forces of 500 or more salespeople. An extensive questionnaire was sent to top sales executives, training managers, and human resources managers to request key data important to prospective employees looking to enter the sales profession. In addition, independent research added to the information database.

Each year we examine the data, focusing on three key categories: compensation, training, and career mobility. Companies that are unable to verify vital details within each category are excluded from the ranking.

Within the category of compensation, the corporate research team looks at average starting salaries, incentive pay plans, availability of company cars, and other benefit packages, such as health and wellness.

In the area of training, we examine the time companies invest in both initial selling-skills training and product knowledge training programs. To assess the issues of career mobility, we look at such essential details as frequency of performance reviews, turnover in the sales force, and the number of people promoted from the sales ranks each year.

Next, all information is compiled, analyzed, and scored in order to maintain complete confidentiality for each company’s data. Each company is given an overall score in the three categories and compared in two general industries: manufacturing and service. Selling Power ranks the top 25 manufacturing companies and the top 25 service companies to complete our list of the top 50 companies to sell for now.

The 50 Best Companies to Sell for Now list represents a wide variety of subindustries, including software/systems, food/beverage, health, construction, information/communications, hospitality, transportation, and financial services.

As expected, our detailed rating system placed the top companies extremely close, with 23 manufacturing companies and 21 service companies tied with other companies in the rankings. In these instances, the companies were placed in alphabetical order.

The ranking spread remained fairly consistent in both the manufacturing and service industries when compared to last year. Anyone entering the sales field should begin his or her effort by taking a good look at these top companies.

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How To Acquire and Manage More Leads

Tough times require that sales managers focus on what's really important. To put it simply, that means leads, and lots of them. I am not the only one feeling the increased heat at the top of the sales funnel. According to the 2009 IDC Tech Sales Barometer, sales investment in lead-generation technologies is one of the few bright spots in the current economic meltdown. This year, while most other functional areas are feeling the squeeze, investment in lead generation is expected to see a whopping 40 percent increase. Underscoring the urgency of these investments is another IDC prediction: "Sales organizations that bolster dedicated investments in lead quality and demand generation will be rewarded with significantly higher sales productivity." That implies that there is gold at the end of this recession; however, there are some important considerations before joining the gold rush to revamp your lead-generation approach. While some best practices have weathered the test of time, emergence of social media, proliferation of data about prospects and customers, and broader adoption of customer relationship management (CRM) solutions are forever altering the lead-generation landscape. Alignment These days the lead-generation function is more or less shared between the sales and marketing organizations. Lead generation can either be inbound or outbound, manual or automatic, and can include a continuum of activities, ranging from list-based campaigns, online advertising, and search engine marketing (SEM) to cold calling and "social" calling. Regardless of your lead-generation mix, effective use of your scarce resources - people, time, money - requires marketing and sales alignment. According to the Aberdeen Group Lead Lifecycle Management report (July 2009) by Ian Michiels, 78 percent of the best-in-class companies demonstrate a collaborative effort between sales and marketing when defining a qualified lead, the buying cycle, and the sales cycle, compared to only 37 percent of the laggards. SegmentationWhile sales and marketing alignment is critical, the key to successful marketing has always been targeting the right audience with the right message. According to the earlier-referenced Aberdeen study, best-in-class companies are much more likely to segment and target their prospect and customer databases. Segmentation is crucial to increasing lead-conversion rates and reducing cost-per-lead (CPL) in both acquisition marketing activities and lead nurturing of not-yet-sales-ready leads. Not surprisingly, custom segmentation capabilities emerge as an important consideration when selecting the right lead-generation solution. Data AccuracyWhen it comes to list-driven lead generation, more data about companies and executives is available today than ever before. Online Sources of B2B Data: A Comparative Analysis, by Ruth Stevens and Bernice Grossman (January 2009), does a nice job of comparing 10 B2B data vendors based on three criteria: volume (how many good contacts can I retrieve from this system?), completeness (can I get every field I want?), and accuracy (is the contact information correct?). So more data is good, right? Not necessarily. An interesting takeaway is that it isn't easy to assess accuracy - or the truth - about the contacts within the vendors' databases. Unfortunately, one unintended consequence of data proliferation has been conflicting data between providers, or in other words, incorrect and incomplete information about your prospects.Social-Media IntegrationFew trends hold as much promise in improving sales productivity as the emergence of social media. LinkedIn, Twitter, and Facebook can bring new perspectives and timely color to lead-generation efforts. Whether tapping into relevant news about your prospects or discovering a connection to make that cold call much warmer, access to social media is quickly becoming indispensable for successful lead generation. But social media can easily become a time-suck, as well. Hence, usable access to relevant social content is becoming a must-have in lead-generation solutions.CRM IntegrationSince CRM has essentially become the system of record for leads throughout the sales cycle, we are seeing more and more lead-generation and marketing-automation system integrations with CRMs. These integrations also allow lifecycle monitoring of leads - from lead source to opportunity conversion, all the way to deal closure - to assess ultimate lead quality. An additional benefit of the integration is improved prospect data quality, as well as increased CRM adoption. As you ponder your lead-generation solution purchase, remember that effective lead generation needs to combine process with technology in order to deliver both the quality and quantity of leads you want at the lowest CPL possible. And never underestimate the power of establishing a culture of measurement in your sales and marketing process, starting with lead generation. After all, you cannot improve what you cannot measure.Pelin Wood Thorogood is a managing partner at Aegean Group (pelin@aegeangrp.com).See also: Lead Generation Buyers Guide, Selling Power, September 2009 issueContent Reuse - All material in Selling Power magazine and on www.sellingpower.com is copyrighted. Reuse in any form without permission of the publisher is a violation of federal law. For information on reuse of any material copyrighted by Selling Power, please contact Customer Service at 1-800-752-7355 or 540/752-7000 or email orders@sellingpower.com

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Risk Management Event on Dec 2 in Prague

The event on "Risk Management – From Risk Analysis to Risk Control" on the 2nd of December is organized by AIM Software together with its local partner in Prague Crede Experto.

Date: 2nd of December 2004, 9.00 – 14.00Venue: Prague, Czech RepublicFor: risk managers, treasury managers, financial market experts

Topics:

Global Trends in Data and Risk Management Outlook on the Global Risk Management Survey 2005Results of the Global Data Management Survey 2004GAIN Risk Management and GAIN DataDesktopHow does data quality affect operational risk in the back office Services and Value Added Solutions

Speakers:

Martin Buchberger, AIM SoftwareJirĂ­ Sandanus, Crede Experto PrahaDaniel Albisser, Privatbank IHAG

Fore more detailed information and for registration please visit: http://www.credesxperto.com/


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AIM Software announces strategic partnership in Asia

Xen Business Solutions will serve the Malaysian and the Asian markets through AIM Software's risk management solution, GAIN Risk Management and reference data management solution, GAIN DataDesktop.

AIM Software's integrated solution GAIN will offer financial institutions a comprehensive supplement to Xen Business's treasury and portfolio management systems COMPASS. "The alliance with AIM Software answers our customers' needs for a flexible and proven risk management and data management solution," states Jeffrey Cheah, Director of Sales of Xen Business Solutions.

"Our risk management and data management software solutions can now be directly delivered as valuable business applications for customers in the Asian region," says Martin Buchberger, Head of Marketing of AIM Software. "The direct and local service for our clients and the advantage of offering two complementary solutions working together provide a remarkable added value to our customers in Malaysia."

Klick here for the press release.

About AIM Software

Founded in 1998, AIM Software specializes in data and risk management solutions for financial institutions and conducts global industry researches. With offices in Austria, New York, Switzerland and Hong Kong, AIM Software serves 70+ clients in the major financial centres, making it a global leader in reference data management.

About Xen Business Solutions

Xen Business Solutions was incorporated in 1999. Their principal activity is in software engineering, in particular, in developing software solutions for the financial services industry and corporate markets.


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AIM Software and Avaloq Announce long-term Partnership

AIM Software, a leading provider of reference data management and risk management software for the financial industry, and Swiss banking platform provider Avaloq announced a long-term cooperation to provide an integrated solution for reference data management.

Avaloq and AIM Software partnered in order to offer an optimized solution package to fulfil the needs of their clients in data management. Avaloq supports multi-data feed integration in their core banking system by using GAIN DataDesktop, the flagship data management solution of AIM Software.

AIM Software can now provide the added value of GAIN DataDesktop to Avaloq clients, such as opening new instruments, and the import of static data and corporate actions with Avaloq optionally managing the resulting security master file. Andres Fischer, Alliance Manager at Avaloq, says: "The decision to partner with AIM was a result of analyzing the features of this solution and the potential synergies of our liaison."

Buchberger adds: "We see this strategic alliance as a symbol for a new era, where solution providers will combine their know-how and expertise for extending the reach of their products and services while focusing on their core competencies."

Click here for the press release

About AIM Software

Founded in 1998, AIM Software specializes in data and risk management solutions for financial institutions and conducts global industry researches. With offices in Austria, New York, Switzerland and Hong Kong, AIM operates globally in the major financial centres with 70+ clients. AIM Software is a global leader in back office data management.

About Avaloq Group AG

Avaloq develops and markets the Avaloq Banking System, an integrated standard software package for financial service providers which can also be used as a modular solution.


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June 15, 2005 | Executive Breakfast on Risk Management in Kuala Lumpur, Malaysia

Basel II-Guidelines and Implementation Strategies in Risk Management

This Executive Breakfast on "Challenges and Alternatives of Risk Management" on June 15, 2005 is organized by AIM Software and its local partner Xen Business Solutions.

Date: June 15, 2005Time: 9.30 am to 12.30 pmVenue: Conference Room, Kuala Lumpur Golf & Country Club, Bukit Kiara, 50088 Kuala Lumpur

Topics:

International trends in risk managementInteraction between market, credit and operational risk managementControl of the total risk: Reality or vision?Case study – Strategies in risk managementGlobal Data and Risk Management Survey – An overview about data and risk management of 1,736 financial institutions in 63 countries

For more information and for registration please klick here


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