Search

At the very heart of running a sales pipeline is opportunity management. Opportunity management consists of, first, setting up a sales process. This means knowing the various stages that your opportunities pass through, from lead all the way to close. When you know how long a deal takes to make it through the pipeline, and ...

As there are many, many books on sales management, so there are endless publications, articles and blogs on the subject of lead generation. This article doesn’t touch that subject, but addresses another vital topic: how to handle leads as they’re coming in, and the basics of establishing your lead management. Inbound and Outbound As with ...

What is sustainable value? Stated simply, it is “value that keeps on giving.” For the customer it is that quality of a product, service or company that always delivers, that is always there. For the seller, it is an opportunity or an account that pays for itself over and over. Sustainable value should be the ...

There is an economic principle called comparative advantage which can be a tremendous benefit to sales management. In economics, the term is used to describe the ability of a party to produce a particular good or service at a lower cost than another party, and take advantage of that fact in trade. For example one ...

Subjective value is the perceived value of your product or service in the mind of the prospect. According to one of the founding fathers of the Austrian School of Economics, Ludwig von Mises, “Value is not intrinsic, it is not in things. It is within us; it is the way in which man reacts to ...

Opportunity cost is the investment your company must make to achieve a sale, and it has a bearing on every company activity associated with a sales cycle. It is applicable equally on the higher level of entrepreneurship as well as at the level of the sales force—which of course includes sales reps and sales management. ...

What is the principle of sunk cost, and how can it be practically applied to sales? For it certainly can. Sunk cost is a principle of economics. Sunk costs are costs that a company has already invested in products or services that must now be profitably recovered. These are costs that your company has already ...

If you’re a member of a sales force, or in sales management, there is always practical information you must know. You need to know as much as possible about your own products. You need to have a firm grounding about your particular industry and market. Today especially you must have as much insight as possible ...