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Written by: Jeff Kalter
Only around 10% to 15% of leads, on average, convert to sales. So lead qualification is essential for helping you focus your time where it will be the most effective and profitable. When it comes to B2B lead qualification, many will argue that the BANT strategy is outdated and has outlived its usefulness. It’s been more than 70 years since IBM developed the BANT lead qualification framework for its sales reps. With today’s long sales cycles, the Internet’s impact on the buyers’ journey and the size of decision-making teams, some say BANT is dead. However, perhaps we just need to enhance BANT. First, though, let’s have a quick refresher on what BANT is.
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Written by: Sabrina Ferraioli
If you ask the neuroscientists, they’ll tell you that people buy with their hearts, but they justify their purchases with their brains. In other words, top sales reps get buyers emotionally engaged, then feed them facts and figures that they can use to rationalize their buying decisions to management. If you manage B2B salespeople, you may be wondering two things: First, while we understand that consumers buy on emotion, does this really work with business buyers? And second, in an information era when most buyers begin their buyer’s journey on the internet, how do you control an emotional sell? My answer to the first question is yes, emotion works better than you might expect with B2B buyers. What’s distinctive about a B2B sale is that you’re appealing to different emotional heartstrings.
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Written by: Jeff Kalter
Only around 10% to 15% of leads, on average, convert to sales. So lead qualification is essential for helping you focus your time where it will be the most effective and profitable. When it comes to B2B lead qualification, many will argue that the BANT strategy is outdated and has outlived its usefulness. It’s been more than 70 years since IBM developed the BANT lead qualification framework for its sales reps. With today’s long sales cycles, the Internet’s impact on the buyers’ journey and the size of decision-making teams, some say BANT is dead. However, perhaps we just need to enhance BANT. First, though, let’s have a quick refresher on what BANT is.
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If you want to boost your bottom line and grow your business, it’s often best to prioritize your current customers. However, most reps devote at least twice as much effort to new business acquisition as they do to customer retention. But over time, loyal, happy customers are worth at least ten times the value of their first purchase. So it might be time to change the focus of your business development reps (BDRs). Instead of spending all their time identifying new markets and reaching out to new prospects, BDRs could be more productive by dedicating more time and effort to cultivating business expansion with your customers
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Written by: Jeff Kalter
In 2017, inside sales reps in the United States represented not quite half (47.4% to 52.8%) of the sales force, with a modest 5% growth projected for 2018 and 2019. And then COVID-19 hit. Face-to-face meetings were out, but inside sales could work remotely and connect with buyers virtually. And 64% of B2B vendors using a remote sales model in 2020 achieved or even surpassed their revenue expectations.
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Written by: Jeff Kalter
If you're thinking of building a team of business development representatives (BDRs) but are having difficulty justifying paying someone who doesn't close sales, read on. You might need a new perspective along with a program designed to get the most of your business development reps. BDRs are essential because they free your salespeople of many burdensome tasks that take them away from selling.
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Written by: Jeff Kalter
As your sales reps take on the front lines of selling, who’s doing your lead qualification? Think about this when you sign up for a live transfer service. Inbound “sales” calls potentially can convert ten times better than clicks, but are you sure that you’re getting highly qualified leads that your reps can act on? Or are you buying a glorified answering service?
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Written by: Sabrina Ferraioli
If you’re like most B2B companies, your inside sales teams—with their experience in virtual sales, digital competence and ability to work remotely—may have helped you to survive the extreme challenges of 2020. Now, you may want to make your inside sales strategy play internationally. It’s a small world that gets smaller with every advance in communications and air travel. Companies expect to source their equipment, ingredients, technology and raw materials from around the world. So whether you’re selling IT solutions, banking services or package delivery, your market today is worldwide.
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Written by: Jeff Kalter
As the year comes to a close, we doubt that you will be sorry to say goodbye to 2020. It’s been a challenging year for all of us, with more than a few surprises along the way. Even so, once the dust settles and we’re well-entrenched in 2021, could we look back and see the year from hell as a blessing in disguise?
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Written by: Aaron Biefeni
When it comes to the importance of follow-up, we've all seen the statistics: More than half (60%) of buyers say "no" four times before they say "yes." And yet, 44% of sales reps give up after just one follow-up. It seems many tele-sales and inside sales reps would rather play the numbers game and move on to the next lead rather than follow up with a prospect multiple times. Instead, your salespeople might be better off focusing on their techniques for overcoming sales objections. One way to do that is through storytelling.
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