Next up in our series on highly applicable economic principles is one called opportunity cost. 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 ...
Salespeople (Entrepreneurs): What is a “Sunk Cost” and Why Do I Need to Know About It? As we’ve been discussing, salespeople (aka “entrepreneurs within the enterprise”) operate knowingly or unknowingly within a set of precise economic principles. While you might consider that economic theory is something best left to professors in university ivory towers, in ...
One of sales’ biggest bugbears is that a lot of leads are “rubbish” or “no good” because they will never close. Now, there are a number of reasons for this: For example, the prospect may fall outside your buyer persona description, or they may not be the decision-maker. They may have entered your sales process ...
“Why would a CRM solution have a philosophy?” you might ask. “Philosophy is for heavy thinkers in ivory towers. We’re a company with salespeople. We just want to close deals and move on to the next one so we can make our targets.” But stick with us—you might learn something that could greatly help your ...
Some of the top vendors of CRM solutions today promote that their CRM exists only in the cloud, so that it can be accessed through the web anytime, anyplace, anywhere. But if CRM systems truly empower sales reps to sell—which should be the mission of all CRM systems—should they exist only in the cloud?
Who within a business should own the process of sales enablement? Sales and marketing departments probably spring to mind, and when you look at what sales enablement actually is, you can understand why. In this blog, we’ll explore three important ways marketing departments can go beyond lead generation, to proactively support sales to close more ...
One concern that can come up in deciding on whether or not to move to a cloud CRM solution is, “Will we be able to customize CRM?” Since cloud solutions are generally SaaS (Software as a Service) solutions, the worry is that since it’s not going to be in-house, it’s only going to be provided ...
If you’re in business, one of your primary objectives is, of course, to grow. The expansion is a wonderful thing, but it also carries several inherent problems. As you grow, you need more staff. You require more space if only to park those new employees. If you’re in the manufacturing sector, you may need additional ...
