Steps to Follow...
Walking through the studies, data and psychology of selling
This week once again bypasses a specific theme and walks through the studies, data, and psychology of selling. What works, what are others saying and doing. And how we can follow suit.
In this week’s edition of Stretch Weekly -
Highlights from a recent Refract study on WHY coaching matters- to reps and sales leaders alike.
Will Allred outlines 5 steps to get more warm intros - specifically utilizing LinkedIn. Good advice as SDRs, AEs hunting or even advancing deals through the enterprise.
Good, quick read from Jeff Shore on updating your follow-up methods to break through and get more buy-in from prospects.
And as always - more snippets with insights that hopefully you can find useful, utilize or put into practice.
And lastly - as always, if you find this newsletter valuable- consider sharing it with someone who might as well 👊.
THANKS!!
-Grant
STRETCH SHARES
Coaching Matters
Stumbled upon this excellent read on why coaching matters from a recent Refract study of hundreds of salespeople and leaders. Highlights:
For SaaS sales reps, coaching matters - 60% of reps feel coaching improves their confidence. 55% said it improves their relationship with their manager.
Coaching matters to sales leaders too. 93% said it has a demonstrable positive impact on their team's performance. 89% claimed coaching was very important or critical to their role.
Sales Leaders don't coach as much as they think they do. 62% of sales leaders told us they coach at least weekly. But...only 25% of reps said they receive coaching weekly.
Coaching isn't as effective as it could be. 30% of reps feel coaching could improve and could get better. Reps need coaching on more effective areas.
Coaching works. 65% of reps that received coaching at least weekly - hit or exceeded quota. Compared to 45% of reps missing quota when coaching isn't held at least weekly.
5 Steps to Get Your Sales Teams Warm Intros
Will Allred of Lavender (cool tool that helps you craft better emails) outlines 5 steps to get more warm intros - specifically utilizing LinkedIn. Good advice as SDRs, AEs hunting or even advancing deals through the enterprise.
His 5 steps:
Prioritize Mutual Connections in Research
Check the Connection
Have Your "Forwardable" Ready
Save their Inbox (the BCC)
Follow up with Your Warm Connector
Choosing the Best Follow-Up Method For Your Prospect
Good, quick read from Jeff Shore on updating your follow-up methods to break through and get more buy-in.
Too many salespeople choose the follow-up method based upon their own personal comfort levels, rather than the most effective tool for the job.
Heavy emphasis on using video - but makes some great points on the psychology of why videos are successful where emails/texts fall short.
What areas are videos successful or appropriate and where are they not?
STRETCH SNIPPETS
↗️ Emails using the break-up phrase "still relevant" have reply rates 214% HIGHER than average prospecting emails. - Jeremey Donovan
☎️ Jeb Blount and Alex Goldfyan discuss how we can eliminate cold calling by talking with people we know [13 min PODCAST]
💸 Learn how some of the world’s top performing SaaS organizations run various stages in their sales processes, including discovery calls and demos.
🤔 Jason Zook presents his "Theory of the 3 Why's" - a simple but powerful way to get better answers. Give it a read as you hone your discovery skills.
📚 Check out recommendations from Pipedrive on the best books on selling: 27 sales books you should read in 2020
🔎 Seems like this study only magnified what leaders were facing pre-COVID. But check out Outreach's study on long-lasting impact of COVID -19 on sales teams.
⏱ Charlotte Lieberman explains the psychology behind why you procrastinate. (Hint: It has nothing to do with self-control)
🧠 Mindset Matters
Thanks for reading!
My hope is if you find this valuable, consider sharing it with friends (or signing up if you haven’t already).
— Grant 👋
About stretch vp: confessions, learnings and insights from sales leaders in SaaS
Compiled and aggregated from a network of sales leaders in SaaS, Stretch VP showcases learnings, insights and experiences as well as best practices to overcome common hurdles, obstacles and setbacks in your quest for excellence as a sales leader in SaaS.
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