Is Your Sales Team Delusional? (guest blog)

Guest blog by: Leo Dirr

Sales reps see themselves through rose-colored lenses. This rah-rah mentality creates some real challenges for sales managers. How do you get an accurate picture of your reps’ performance after you’ve trained them to put a positive spin on everything under the sun?

Data is your only defense. That’s the intuitive answer, right? InsideSales.com recently released research that confirms it with cold, hard data.

The bottom line: Most sales managers think their reps are responding to Internet leads much faster and more persistently than they actually are.

The Problem With Assumptions

InsideSales.com’s research shows that many red-hot Internet leads turn ice cold after just five minutes. You can dramatically improve your contact rates if you make at least five attempts before giving up on a lead.

Industry thought leaders have banged this drum for years. So it’s interesting to see how well companies are reacting to the new realities of inbound marketing.

Our research team tested lead response times for companies that attended the 2013 American Association of Inside Sales Professionals Leadership Summit. Here’s what we found:

• Nearly 25 percent of companies think they respond to Web leads within five minutes.
• Only 5 percent of companies actually respond that quickly.

• About 34 percent think they contact each lead five or more times before giving up.
• Only 10 percent actually contact leads that many times.

Is your sales team delusional? How can they think one thing while doing another? Unless you track all the right metrics religiously, it’s easy to lose sight of what’s really happening. It’s tough to improve your team’s performance without first confronting the facts.

Where Sales Managers Go Wrong

The discrepancy between what sales managers think their reps are doing and what they’re actually doing isn’t all that surprising. Many managers already know they don’t have the data they need to guide their teams effectively.

Leaders are starving for actionable analytics that will allow them to provide valuable coaching and boost performance in a systematic way. Unfortunately, a lot of the relevant data they crave often proves elusive.

Sales Data Solutions

Conduct a test to see how long it takes your sales reps to contact Internet leads. If you don’t like your response times, take a look at the existing technology. An auto dialer can route your Web leads to your reps almost immediately. You can also use dialer technology to track and improve your reps’ follow-up attempts.

 

Leo Dirr is a PR Journalist for InsideSales.com, which provides power tools for sales automation.

4 Emergencies Every Business Should Be Prepared for

The world is a dangerous place. One day things can seem perfect, and then the next day everything you have worked so hard for can suddenly come under fire for a myriad of reasons.

That’s not to say you should live your life in fear that something could go wrong at any moment. You should simply do your best to prepare for emergencies so you’ll know how to respond and you won’t panic and make the situation worse in the heat of the moment.

Here are four serious problems that could devastate your business, and helpful solutions to each of them.

Natural Disasters

Every location on the planet is susceptible to some form of natural calamity. Do you know what yours is? For some it could be earthquakes, for others it’s floods, droughts, tornados, tsunamis, etc.

It’s a good idea to have some emergency supplies on hand, also known as “prepper supplies,” in case something goes wrong and you lose power or the roads are cut off. You can encourage employees to bring their own supplies, as well. First-aid kits, 72-hour kits, and other supplies could come in handy in the event of a sudden storm or other natural disaster.

You can check out Ready.gov and the Red Cross website for additional tips on making sure you’re prepared for many types of disasters, natural and otherwise.

Data Theft

Whether it’s caused by corporate espionage, a disgruntled former employee, or a computer hacker, data theft can be detrimental to your business. No one wants their trade secrets or financial data stolen.

Protect your computers with firewalls, software security systems, and regular password updates and complexity requirements. Thieves are always getting smarter, and there’s no foolproof way to always keep them out, but being proactive is the best strategy you can use.

Computer Crashes

For most businesses, all of their information is digital. Finances, tax records, employee information, customer data, transaction records, and many other important things are stored on computer hard drives. If a server goes down or someone’s computer crashes or is otherwise damaged, it could lead to dire consequences and huge amounts of lost time and work.

Back up your data every day – possibly even multiple times a day, depending on how much you process. You may want to use a cloud-based storage system and keep your data offsite. Not only would this protect you in the event of a computer crash, but it makes it possible to get your data anywhere you have Internet access.

Violent Threats

What if a gunman walked into your place of business and demanded money or was simply intent on killing people? Unfortunately, this has been a problem for generations and it doesn’t look like it will ever go away completely. There’s no surefire way to stop horrific tragedies like this from occurring, but you can do a few things to minimize damage and loss of life.

Install a security system to alert the police immediately when violence erupts. Have a security team available, if the threat is prevalent enough to warrant one. Use security cameras, but take care not to create a hostile work environment by making your employees feel like you’re constantly spying on them. You may even want to encourage employees to obtain the proper licenses to carry guns on the premises. This would provide a good determent and a quick response to threats without necessarily having to hire security.

Staying Safe

You never know what might happen out there. There are certainly many other dangers than the ones mentioned above that threaten to unravel the business you have worked hard to build. By planning ahead and doing your best to minimize threats, you can make sure you’re ready when danger arises.

Five Tips to Recover from Bad Press (guest blog)

Guest blog by: Madyson Grant

Bad press is never a good thing, but ignoring it can be even worse for your organization. As a business owner, you understand just how important it is to build your reputation in the industry and maintain it over time. Keeping up with what everyone says about your company online can be a difficult task, but it is not impossible. Even if bad press goes viral, here are five ways that you can recover and rebuild your reputation so that the negative publicity does not bring your business down.

1. Do Not Panic or React Poorly

Your reaction can lead to yet another crisis. Take time to breathe and calm down before you consider making any type of comments on the situation. If you appear to be defensive, it will reflect poorly on your organization. Take time to gather all of your thoughts and you will avoid falling victim to your emotions.

2. Learn From the Mistakes Reported in the Bad Press

No organization is perfect, but some mistakes are bigger than others. Really sit down and read the press and take a look at the internal problem. You need to get used to criticism, but you also need to use the criticism to improve your operations and your reputation. If you can show your customers and the media that you are making changes to fix the problem, you are showing that you are accountable and responsible.

3. Respond in a Positive Way

You cannot just ignore the press and hope that it goes away. Your customers will think that you are guilty and you are hiding from the situation if you have nothing to say. Be accountable and then find positive things to highlight in your response. Admitting that you were wrong will show that your business has integrity.

4. Use Different Channels

Bad press does not travel across all channels on the Internet. Just because there is a blog post or a news story about your business does not mean that other channels are poisoned. Use your Facebook profile, your blog, article directories, and other platforms to communicate a positive message. If the bad press has gone viral, be sure to post your responses to the situation on your profiles so if people search for you, they will be able to get your side.

5. Do Not Let It Consume You

Criticism is something you are going to have to get used to, and you cannot let it consume you. After you respond and you make changes, you should move on and work towards moving up.

There is no way to recover from bad press if you do not know it is out there. By using software programs and doing business with a customer feedback management company, you can find out what your customers have to say and take control of the message before bad press affects business.

Musts for Your Startup eCommerce Business (guest blog)

Guest blog by: Lyndsi Decker

Starting an ecommerce business online takes much more than simply deciding you want to sell something and make money. So many retail solutions exist on the Internet and it is vital for an entrepreneur to identify exactly what they need and what they do not need to start a successful business.

Product and Storage Capabilities

Any ecommerce business needs a product line that is marketable and can bring a profit. Researching wholesalers and manufacturers to find the products you wish to work with is only the first step. Before committing to a line consider the storage needs. Any warehouse or storage space should be optimized and organized so the products can be found easily and inventory can be maintained. This in-house organization facilitates quick processing of orders, something that customers will expect.

Website Hosting, Design and Ecommerce Program

Building the storefront for an ecommerce business requires adequate website hosting, professional site design, and a shopping cart and payment processing script or program. These can either be purchased out of the box or coded for your unique needs. New business owners should remember the most important aspects of running an online shop are building a reputable brand and making ordering easy. The ability to take payment by credit card is also key.

Packaging and Shipping Procedures

Once orders start coming in, an ecommerce retailer needs the ability to ship products in attractive packaging. A well-organized warehouse will help with picking and packing each order into a plain or preprinted box or envelope. Signing up for an account with the U.S. Postal Service, UPS, FedEx or other carriers makes shipping in bulk easier.

Pre- and Post-Sale Marketing 

Once you have an attractive website set up with a functioning shopping cart program and all your quality products are on display, you need to attract customers. Both pre- and post-sales marketing practices are vital for continued success. Advertising methods to get people to your Internet retail store may include paid advertisements, search engine listings and posts on forums and social media sites. After a sale is complete, attract repeat business with newsletters and discounts.

New ecommerce website owners need to plan all aspects of their business before launching a shop. Getting and storing profitable product lines is just the beginning. Customers will expect an attractive, easy-to-use website, quick shipping, and quality customer service. If your company can provide all these things, it will have a great chance of becoming quite profitable.

Author Bio

Lyndsi Decker is a freelance writer. At the moment she is promoting truck loading conveyer. She usually blogs about business-related issues and she enjoys running.

3 Marketing Materials Your Business Can’t Live Without (guest blog)

Guest blog by: Madyson Grant

Branding is essential. Your business should have its own personality, and well-made marketing materials will help show that personality to the world. Instead of focusing solely on a sales message, strive to cultivate a professional image with your marketing materials. Good branding helps potential customers feel comfortable approaching your business.

There are a variety of marketing materials available to business owners, but in order for them to make an impact on your target market they have to be memorable. Using a quality printing company, such as smartpress.com online printing, will ensure that you make the right impression and translate that into sales. Below are three essential marketing materials that you will never want your business to be without.

Business Cards with Flair

Every time you leave the office on service calls, deliveries, or other errands, you will run into many opportunities to advertise your brand to potential customers. A great business card is like a piece of art. It can be anything from extremely minimalist and simple to a full-blow miniature example of your work. This depends on your business’ specialty. A poorly designed business card will be filed away or thrown in the trash. Business cards that are unique will be memorable to potential customers.

These days, it is possible to get extremely creative with business-card design. Gone is the time of black-and-white rectangles that get lost in the fold. Your business card should be of a unique size or shape. Nothing too large, of course, but consider rounded edges or raised lettering for a personal touch.

Brochures That Highlight Your Best Work

Tri-fold brochures are extremely common but are still a great way to showcase your best work to potential customers. There is nothing better than a color photograph to draw in your target market. Full-color brochures that are well designed are another important piece in the branding puzzle.

Envelopes and Letterhead Stationery to Pull it All Together

Stationery is a great way to remind your customers of who you are. After they are pulled in with your other marketing materials, sending thank you letters and invoices on official company stationary rounds out your branding message and makes them remember you long after their purchase. While emails and other electronic communication have overrun traditional correspondence, a handwritten note on your own letterhead not only gives a personal touch but also reinforces your branding.

What’s in Store for Smartphone and Tablet Suppliers in 2013?

What goes up must come down. Smartphones and tablets have been some of the hottest-selling products in the world for the past few years, but things may be changing soon, according to a BGR article:

“Unnamed industry sources suggest overzealous smartphone and tablet vendors may have caused a pileup as 2012 draws to an end, leaving the first quarter in question for a number of suppliers.”

Since this report comes from an unnamed source, we should take it with a grain of salt. But if it is true, it could cause a seesaw effect as vendors overcompensate for their recent overbuying. As they decrease their orders of various parts and components, these vendors could be caught unprepared if it turns out that they miscalculated consumer demand once again.

All of this could have been prevented by a simple solution: inventory management software. Instead of being “overzealous” when making important decisions, business leaders should rely on hard data. This takes emotion out of the equation and helps leaders notice trends and patterns that they would otherwise likely miss.

Inventory management software gives vendors, retailers, wholesalers, manufacturers, and virtually any other type of business detailed reports on sales, orders, supply chains, stock levels, and more. Armed with this information, business leaders can decide how much inventory they need to keep in stock at any given time, thus minimizing both shortages and overstocks.

Whether you’re working with high-tech gadgets like smartphones and tablets or you’re producing food using a variety of ingredients, you’ll find inventory management software equally valuable to your operations. Sign up for an inventory software demo today to see how it can benefit your business.

Apple CEO Says U.S. Lacks Manufacturing Skills

Apple CEO Tim Cook says in a recent interview that Apple plans to build one of its Mac product lines in the United States, rather than in China, in 2013. This is great news for the lucky manufacturer(s) Apple will contract with to do this work. Cook adds that he hopes this move will encourage other companies to bring back more manufacturing jobs to this country.

Skills at Any Cost

The most interesting part of the interview is when Cook notes that the higher cost of labor in the U.S. isn’t the biggest factor that has kept his company from manufacturing more products in its home country. “It’s not so much about price; it’s about the skills,” he says in the interview.

It’s ironic that there is a serious shortage of workers in the manufacturing industry with the necessary skills to handle modern manufacturing processes. The industry has become so technologically advanced in recent years that educators have failed to keep up and give college students the essential skills they need to thrive.

Modern Manufacturing Requires Smarter Manufacturers

Uncertain economic conditions and international competition have forced manufacturers to innovate and find other ways to cut costs in recent years. This has led to increased efficiency, a reduction in the number of workers required to produce the same number of goods, and more skills demanded from the workers who remain.

The manufacturing industry is much more technologically advanced than it was a generation ago. The old stereotype of blue-collar jobs is no longer true. Hopefully workers will be able to break out of the mold, as well, and rise to the challenge of filling these new high-skilled jobs.

It turns out that individuals have a big say in whether or not the U.S. continues to be a manufacturing nation. That’s an encouraging thought as we enter a new year.