Survive the Mid-Summer Sales Review with a Compelling Story

It’s time for the obligatory mid-year sales review! This is the time when we should take an objective look at our sales goals and determine what needs to happen over the next 6 months to meet our objectives.

For many sales managers and sales professionals the performance review (formal or informal) can lead to some tough conversations and anxiety filled moments especially when performance isn’t where it needs to be. While some sales pros may find themselves having a fantastic year others may be struggling to figure things out. It’s also safe to say the many sales managers are struggling to find ways to help their sales people with any type of effective course correction.

Way back in the day, when I was new to sales management, I had a boss who drilled into me that sales people need a compelling story to tell in regards to new business development. He was tired of sales people giving lip service to how they were going to grow the business only to be disappointed in the end. I’ve carried that advice with me and over the years have adopted a simple format to help sales people create their own compelling story.

Don’t just survive your mid-year review. Whether you’re a sales manager or a sales person, use the following model to super charger your business development plan and create your own compelling sales story.

• Keepers: This is typically your best client and without them you would lose significant income. 2 things you need to know. First, your competition will be a taking a run at your best clients and you can’t let that happen. Secondly, they love you and are most likely to give you referrals or introductions to help you grow your business.
• Attain: This is business that will come from new clients. Having a clear understanding of your ideal client is important. Spend your valuable time prospecting for new clients where you can leverage the full breadth and depth of your product or service offering. Let’s not waste time chasing suspects when we can hunt for prospects. It’s safe to say that you need to start stalking your competitors’ accounts. If you don’t know who they are then you can put your detective hat on and figure it out.
• Re-Take: Have you ever lost a piece of business and wished you had it back? Let’s assume when you had the business it was a great account, easy to work with, good profit margins, and paid the bills on time. It’s time to reconstitute your relationship with your former clients. Swallow your pride and start to mend the relationship. You have nothing to lose.
• Expand: The number one complaint I hear from top level execs is that our sales people aren’t leveraging the full extent of our (product or service) offering to our current clients. There are a lot of reasons this condition exists and none of them are good. Work with your manager or sales coach on setting the table to have conversations with current clients for the specific purpose of increasing the spend with your company. Like the Lion from the Wizard of Oz, find some courage and don’t be afraid to have the conversation. 

Take the anxiety out of this year’s review process. For sales managers, use this model to coach your sales people to find the answers on their own. For sales people, impress your manager by providing a compelling story that gets results!