Volume 2, Issue 2
 
 March 2007
 
SMART TIPS
The Bristol Strategy Group Newsletter
for Effective Sales Organizations 

BSG Notes, Links and Ideas

Read the Article!
"If They Build It, They Will Use It."
Published in Velocity, Q4 2006 edition.
 
 
WHAT'S NEW AT BSG:
 
Selling the SMART Way®  for Lawyers.
BSG introduced our first solution for the legal industry in 2006.  Selling the SMART Way for Lawyers helps law firms implement a sales process that simplifies business development at the firm level, the practice group level, and the individual attorney level, while remaining consistent with legal ethics. 
 
Selling the SMART Way for Lawyers is of value to firms with as few as 10 attorneys, or as many as 1,000.  CPAs, consultants, and other professional service firms will find the model useful as well.
 
For more information about Selling the SMART Way for Lawyers, or to schedule a workshop at your firm, click here to send us an email.
 
Bristol Strategy Group
2121 N. Bayshore Dr., #1201
Miami, FL 33137
305-576-6236
Success vs. Productivity:  Are They the Same?
Success and productivity are not the same.  A sales team can be successful without being productive  Successful sales teams bring in lots of business.  Successful and PRODUCTIVE sales teams bring in business at less cost, less time and better teamwork in-house.  It makes sense to invest in sales-force productivity, even when - sometimes especially when - the sales force is successful.  Give your own sales organization a Productivity Assessment by following these SMART Tips.  Rate your answers High, Medium, or Low. 

Tip #1:  Customer Retention is High.  The sales force spends a solid proportion of its time on its best customers.  Customer defection is measured and kept at a low. 
Tip #2:  New-Account Acquisition is Consistent.  The sales force has new-account targets to reach, and reaches them consistently. The team has good metrics for measuring new-account acquisition. 
Tip #3:  New Accounts Resemble the Best-Customer Profile.  The sales force has good benchmarks and guidelines for account selection, and invests the majority of its new-account-acquisition time on prospects likely to be long-term, profitable, repeat buyers.  The team has a documented method of assessing the potential of a new account. 
Tip #4:  Cost of Sales is Controlled or Reduced Year After Year.  You have methods in place for assessing both the hard and soft costs of sales, and your managers make an effort to keep soft costs under control. 
Tip #5:  Sales People Understand Opportunity Cost.  Your team is careful to invest their time and energy on better qualified candidates and productive activities. 
Tip  #6:  Results Matter More Than Activity. Performance metrics are based on results and outcomes, not activity.  Managers guide the sales team to improve performance ratios, not simply work more hours and send out more quotes.
Tip #7: Sales Meetings Focus on Best Practices and Efficiency.  Sales teams spend time analyzing ways to improve productivity, as well as discussing current opportunities.
How does your organization compare?  THe more "High" scores you get, the more productive you are.  "Low" scores anywhere suggest that you could improve productivity.  
 
Productivity Requires Performance Metrics
Remember, you can't manage it - especially productivity - if you can't measure it.  If your sales organization is equipped with useful performance metrics, it's more likely that you will achieve both the success and the productivity you want. Make sure your metrics include leading as well as lagging indicators, results as well as activity measures, and benchmarks for account selection.
Selling the SMART Way® , BSG's flagship solution for productive sales organizations, will help you develop the performance metrics, account-selection benchmarks and six-sigma-style quality management techniques that ensure both success AND productivity for your sales team.  Call us today at 305-576-6236.
Work Less.  Earn More
Bristol Strategy Group:  Selling the SMART Way®