Born and raised in New York City, Jeff Kalter graduated with a Bachelor of Science from New York Institute of Technology. Jeff began his professional career at Bruce Supply Corporation, a leading industrial supplies distributor in the United States. Thereafter, Jeff co-founded Central Foundries Inc., a global importer and manufacturer of cast iron and copper products.
In the late 90s Jeff moved his family to Munich, Germany, where he gained experience in the consumer market acting as Advertising Designer for companies such as ESCADA and Altmarkt Gallery.
Jeff was then recruited by a leading outsourced customer acquisition company responsible for global clients, including TOSHIBA, Cisco Systems and 3Com. His responsibilities included developing, implementing and driving customer acquisition programs with proven revenue of over 100 million USD.
In 2003 Jeff co-founded 3D2B in Rome, Italy. Today, Jeff is the CEO of 3D2B and resides between Rome and New York City.
Is a lack of appointments putting your company’s growth on hold? Because B2B appointment setting is a challenging task, it’s an all-too-common problem. Here are some tips to help you increase your sales appointments.
Customer Acquisition or Retention?
When it comes to inside sales compensation plans, many companies fall into the trap of focusing squarely on customer acquisition. When they do so, however, customer retention may suffer. Because the cost of keeping a customer is one-fifth the cost of acquiring one, deciding whether to direct your efforts toward acquisition or retention is essential. In most cases, a business is more likely to shore up its long-term health by retaining and growing current customers. Thus, if their inside sales compensation plans prioritize customer retention, they are more likely to be successful.
Let’s look at how two companies have addressed sales to existing customers in their compensation plans.
Will AI Take Over?
As time goes by, artificial intelligence (AI) will play an increasingly vital role in sales. In fact, as some companies relegate some of the more straightforward selling tasks to AI, lower level sales jobs are beginning to dry up.
Just think about how thousands of retail salespeople have lost their jobs as Amazon and other e-commerce sites have taken over.
These websites are not just order-takers. Their complex algorithms enable them to cross-sell. For instance, when you search for a book, you’ll see a message saying “Customers who bought this item also bought [an array of other tempting items].” They also upsell by suggesting “Compare similar items.” Usually, you’ll see some items that are bigger and better.
A study of over 100 subscription businesses found that companies that had customer success teams experienced 24 percent less churn than those without them.
It makes sense. If your customers are achieving the desired results with your product or service, they are less likely to stray.
Whatever your business model, subscription or otherwise, customer loyalty is essential for producing a revenue stream that doesn’t dry up. That’s because research shows 71 percent of B2B customers are at risk of switching vendors.
According to Gartner, Customer Relationship Management (CRM) became the largest software market in 2017. This large and growing market has lured many companies into the business. Given the plethora of CRM solutions, it’s easy to become overwhelmed figuring out which one is right for your organization.
What you’re looking for is a CRM solution that enables you to achieve your objectives, fits with your existing systems and allows you to maximize your sales opportunities.
Given that, here are some steps to finding the right CRM.
A lead management system lays out your standard practices for working with leads efficiently and effectively. It outlines how to create leads and transform them into sales.
So how do you know whether you need lead management?
If you see any of these six signs in your company, you have an opportunity to boost results by implementing a lead management process or strengthening an existing one.
Recently, I received a call from a talented telemarketer. As a telemarketing professional, I love to challenge the agents who call me, asking tough questions and raising objections. At some point, the rep will usually hesitate or provide a less than perfect answer. However, in this case, every time I posed a question or raised an issue or rebutted a response, she had the textbook answer.
Also, there were no pauses. No ums. No unnecessary words. After a while, I wondered, “Am I talking to a real person or is this a robocall?” To find out, I repeated a question to which I had just received a perfect answer. The telemarketing rep then reiterated the same response word for word.
It was only then that I knew for sure that I had just spent twenty minutes talking to a robot.
In the early 1900s Henry Ford pioneered mass production of automobiles. He divided the roles of workers so that they each specialized in one aspect of production, thus increasing productivity and lowering costs.
Similarly, companies now seek to bring efficiencies to their lead management and sales processes. The purpose is to close more deals faster and more cost-effectively. Just as Ford used specialization on the manufacturing floor, sales and marketing leaders are learning the value divvying up sales roles to achieve higher revenues.
There are two reasons why narrowly defining your sales roles can increase your success. First, each sales associate is empowered to become an expert in their more focused position. Second, different sales functions require unique skills and personality characteristics. If you split up the responsibilities, you can hire people who are most likely to succeed in each specialty.
Unless they filled in a form on one of your organization’s landing pages or called your sales department, it used to be impossible to identify who was in the market for products and services your company offers.
But of all the people looking for a solution like yours, how many actually give you a direct signal of interest?
Sadly, the leads you receive are likely the tip of the iceberg; a large majority of the market remains hidden from view. That’s because many potential buyers may not find your site or leave before registering for your latest e-book. If you sell technology products or solutions, however, your prospects probably seek information on third-party publisher and review sites.
Wouldn’t you like to know who the rest of these people are?
Sometimes you or your reps end a call with a prospect or customer and just wonder, “What went wrong?” If that has ever happened to you (and it’s probably happened to anyone who has ever made a sales call), keep the following tips in mind.
In summary, to ensure more successful sales conversations, ask yourself if you’re talking too much during sales calls. If so, build your curiosity, ask more questions and learn to listen. Make sure you ask questions that spur conversation and help you to gain an understanding of their situation. When you talk, translate your product’s features into their benefits to illustrate how they will make your prospect’s life better. And finally, explain how the buyer will be better off purchasing your product rather than your competitor’s.
Call us at +1 718-709-0900 (US) or +39 06 978446 60 (EMEA), or contact us online to learn how you can outsource your inside sales and get rapid results.