{"id":45923,"date":"2021-08-10T15:50:00","date_gmt":"2021-08-10T19:50:00","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=45923"},"modified":"2021-08-20T10:46:49","modified_gmt":"2021-08-20T14:46:49","slug":"sales-model","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/sales-model\/","title":{"rendered":"&#8220;New Sales Driver&#8221;: A Simple Sales Model for Success"},"content":{"rendered":"\n<p>What is a sales model? What elements should go into a company&#8217;s sales model? <\/p>\n\n\n\n<p>A sales model is a framework of processes that a company uses to generate sales. In his book, <em><a href=\"https:\/\/www.shortform.com\/blog\/new-sales-simplified-by-mike-weinberg\/\">New Sales Simplified<\/a><\/em>, veteran salesman and sales coach Mike Weinberg provides a three-step sales model designed to generate consistent sales for both businesses and sales reps. He argues that with his model, any salesperson can become a successful \u201csales hunter.\u201d<\/p>\n\n\n\n<p>Below is an overview of the three stages of Mike Weinberg&#8217;s sales model &#8220;New Sales Driver.&#8221;<\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\">The &#8220;New Sales Driver&#8221; Model<\/h2>\n\n\n\n<p><em>New Sales Simplified<\/em> by Mike Weinberg offers the solution to companies&#8217; and sales reps\u2019 struggle to grow new business: his \u201cNew Sales Driver\u201d sales model: <\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Strategically choose your targets.&nbsp;<\/li><li>Develop effective tools.&nbsp;<\/li><li>Develop a plan and act on it.<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\">1. Strategically Choose Your Targets<\/h2>\n\n\n\n<p>When choosing your targets, Weinberg recommends looking<strong> <\/strong>for potential new customers with a profile similar to that of your best current customers. Ask:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Who are the company\u2019s best customers?<\/li><li>What do they have in common?<\/li><li>What do these companies and their markets look like?<\/li><li>Where or how can we find potential customers who resemble our best customers?<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Target List Parameters&nbsp;<\/strong><\/h3>\n\n\n\n<p>In addition to being strategic, a target list should be:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Fixed:<\/strong> Zero in on a fixed or limited number of targets that you\u2019ve chosen because they mirror your best customers. Then work the list and keep working it. Don\u2019t give up and move on if you don\u2019t succeed on your first try with a prospect. Most importantly, stick to your prospect list and don&#8217;t start pursuing other, non-strategic targets, which won\u2019t be productive.<\/li><li><strong>Focused<\/strong>: Focus intensely on the category of customers that\u2019s produced sales for you in the past. By doing so, you\u2019ll become conversant in the industry\u2019s or sector\u2019s language, opportunities, and challenges. This, in turn, will help you ask smart questions that <a href=\"https:\/\/www.shortform.com\/blog\/credible-communication\/\">build credibility<\/a> with prospects. With each success, the next will be easier to achieve.&nbsp;<\/li><li><strong>Written: <\/strong>Have a written, one-page target list literally at your fingertips to keep you focused on your mission. It\u2019s faster and easier to pull out a paper list or spreadsheet than to boot up and scroll through digital pages of a CRM (customer relationship management) system, or to page through an industry directory. Even the act of writing, printing out, and posting a new-business target list on your wall inspires action and ultimately results.<\/li><li><strong>Feasible: <\/strong>Keep your prospect list short enough that you can give each account enough attention, and long enough to be challenging so you don\u2019t get bored and waste time on other things. Determining the right number of accounts to include depends on the type of business, how easy it\u2019ll be to gain access to each customer, the sales rep\u2019s other responsibilities, and so on. For instance, if you\u2019re selling complex enterprise-level IT software, you\u2019ll need to keep your account list small, perhaps a few dozen accounts, so that managing it will be feasible. However, a telesales rep could handle many more, perhaps hundreds, of accounts for a simple product or service.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">2. Develop Effective Sales Tools<\/h2>\n\n\n\n<p>Once you have your target list, the next step in generating new business is developing sales tools. Weinberg defines eight key sales tools or &#8220;sales weapons.&#8221;<\/p>\n\n\n\n<p><strong>1) Your <a href=\"https:\/\/www.shortform.com\/blog\/sales-story\/\">sales story<\/a>: <\/strong>Your sales story is a compelling, succinct, customer-focused response you give when someone asks you to tell them about your business. An effective story focuses on the problems you solve for customers and the ways your solution is different and better than anyone else\u2019s.<\/p>\n\n\n\n<p><strong>2) The cold call: <\/strong>A cold call is a phone call in which you\u2019re attempting to make your first contact with a prospect. It\u2019s one of the most important and effective ways to get a meeting. While many reps fear making cold calls, you can make these calls with confidence when you know that your target resembles your best customers and you have a compelling sales story to tell.<\/p>\n\n\n\n<p><strong>3) The first <a href=\"https:\/\/www.shortform.com\/blog\/face-to-face-sales\/\">face-to-face sales<\/a> call: <\/strong>Getting an initial meeting with a potential client is the linchpin of new business development. Many reps go into an initial meeting with no structure or plan in mind. They end up talking too much and sounding like every other sales rep. An agenda built around your sales story will differentiate you from competitors.<\/p>\n\n\n\n<p><strong>4) \u201cDiscovery\u201d questions: <\/strong>One of the most important parts of a <a href=\"https:\/\/www.shortform.com\/blog\/sales-meeting\/\">sales meeting<\/a> with a prospect is asking \u201cdiscovery\u201d questions to uncover frustrations, problems, and opportunities your solution could address better than anyone else\u2019s. Asking these questions and listening to the answers is more important in the initial sales call than making a great presentation.<\/p>\n\n\n\n<p><strong>5) Case studies: <\/strong>A useful tool in a sales call is having a few case studies of how you\u2019ve helped companies similar to your prospect\u2019s to solve problems and seize opportunities. These examples are strong evidence of the value of your solutions. Similarly effective are third-party testimonials and recommendations, which come across as more credible than touting your own virtues.<\/p>\n\n\n\n<p><strong>6) Team selling: <\/strong>This is when the salesperson is accompanied on a call by senior executives or \u201csubject matter experts\u201d (such as an IT director who can discuss technical details of your solution). Their involvement underscores that you\u2019re committed to getting the prospect\u2019s business.<\/p>\n\n\n\n<p><strong>7) Presentations: <\/strong>Prospects often expect a presentation right off the bat because that\u2019s what most salespeople deliver. However, to make an effective presentation, you <em>first<\/em> need to ask discovery questions so you can tailor your offering to the client\u2019s needs and interests. A well-planned, customized presentation will make you stand out from the competition.<\/p>\n\n\n\n<p><strong>8) Proposals: <\/strong>Proposals can take various forms. You may have to respond to a formal request for a proposal (RFP). But typically, you\u2019ll have the opportunity to create a tailored proposal for the customer. It\u2019s one of the last tools you\u2019ll apply in the sales process, so it\u2019s important to make it count by sharpening your proposal writing skills.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">3. Develop Plan and Act on It<\/h2>\n\n\n\n<p>After selecting your targets and developing your key sales tools, the final step in the new-sales model is planning and executing by pursuing the prospects on your list. Many salespeople like to talk about selling, but when it comes to prospecting, fewer actually <em>do <\/em>it. Three ways to make prospecting a priority and get it done are <a href=\"https:\/\/www.shortform.com\/blog\/time-block-schedule\/\">time blocking<\/a>, creating a personal business plan, and maintaining a balanced \u201cpipeline\u201d or portfolio of active accounts.<\/p>\n\n\n\n<p>The final step in the new-sales model is planning and executing by pursuing the prospects on your list. Many salespeople like to talk about selling, but when it comes to prospecting, fewer actually do it. Three ways to make prospecting a priority and get it done are time blocking, creating a personal business plan, and maintaining a balanced \u201cpipeline\u201d or portfolio of active accounts.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Block Time for Prospecting<\/strong><\/h3>\n\n\n\n<p>Time blocking is reserving stretches of time for activities that are priorities. Schedule blocks of 90 minutes to two hours at least twice a week for prospecting. (Three hours is probably the maximum you can concentrate and be free of interruptions.)<\/p>\n\n\n\n<p><strong>If you\u2019ve done little or no prospecting, consistently devoting four hours a week to it should significantly improve your results.<\/strong> If you have aggressive business <a href=\"https:\/\/www.shortform.com\/blog\/examples-of-development-goals\/\">development goals<\/a>, scheduling eight or nine two-hour blocks a week\u2014still only a third of your working hours\u2014will get superior results.<\/p>\n\n\n\n<p>The keys to successful time blocking are:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Putting the time blocks in your calendar (don\u2019t just mentally reserve time).<\/li><li>Treating the time as inviolable and using it only for prospecting.<\/li><li><a href=\"https:\/\/www.shortform.com\/blog\/stay-on-task\/\">Staying on task<\/a> during the reserved time. Don\u2019t check email or take phone calls.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Develop a Personal Business Plan<\/strong><\/h3>\n\n\n\n<p><strong>Write a personal business plan annually that places a great emphasis on prospecting. <\/strong>Include the following components in the plan:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Goals<\/strong>: Identify your personal goals for the year\u2014for example, total revenue, revenue from existing versus new accounts, revenue by account, and number of new accounts gained.<\/li><li><strong>Strategies<\/strong>: Determine how you\u2019re going to reach your goals\u2014for example, cross-sell (sell additional services to existing customers), grow specific accounts, or use methods such as team selling, social media, and events.<\/li><li><strong>Actions<\/strong>: Commit yourself to specific sales activities, which you can quantify and track by key activity metrics\u2014for example, number of hours committed to cold calls and face-to-face meetings and number of presentations and proposals.<\/li><li><strong>Hurdles<\/strong>: Determine what potential hurdles you should address preemptively\u2014for example, lack of sales support or too many competing responsibilities.<\/li><li><strong>Personal development<\/strong>: Identify areas in which you\u2019ll develop your skills and the steps you\u2019ll take to develop them\u2014for instance, improving your writing and social media skills by attending training or seeking a mentor.<\/li><\/ul>\n\n\n\n<p>Once you have a business plan, share it with your colleagues to create accountability and get feedback. Also review it regularly to make sure you\u2019re on track.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Maintain a Balanced Pipeline<\/strong><\/h3>\n\n\n\n<p>Your pipeline is the accounts you\u2019re working on. <strong>Spread your sales efforts over many accounts that are at various stages in the sales process so that hitting your sales goals won\u2019t hinge on one or two accounts that could stall.<\/strong> You should have three types of prospect accounts in your pipeline:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Targeted<\/strong> accounts are those you\u2019re working on converting to active accounts.<\/li><li><strong>Active<\/strong> accounts are those where you\u2019ve started a dialogue, and you\u2019re working to convert them into urgent accounts.<\/li><li><strong>Urgent<\/strong> accounts are those with momentum; you\u2019ve provided a proposal or are about to.<\/li><\/ol>\n\n\n\n<p>It\u2019s natural to focus on urgent accounts, but you should be working in all categories simultaneously. Allocate about a third of your prospecting time to each. In addition, make sure all accounts are progressing from one category to the next rather than stagnating.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is a sales model? What elements should go into a company&#8217;s sales model? A sales model is a framework of processes that a company uses to generate sales. In his book, New Sales Simplified, veteran salesman and sales coach Mike Weinberg provides a three-step sales model designed to generate consistent sales for both businesses and sales reps. He argues that with his model, any salesperson can become a successful \u201csales hunter.\u201d Below is an overview of the three stages of Mike Weinberg&#8217;s sales model &#8220;New Sales Driver.&#8221;<\/p>\n","protected":false},"author":7,"featured_media":29174,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45,103],"tags":[456],"class_list":["post-45923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-sales","tag-new-sales-simplified","","tg-column-two"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.3 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>&quot;New Sales Driver&quot;: A Simple Sales Model for Success - Shortform Books<\/title>\n<meta name=\"description\" content=\"In &quot;New Sales Simplified,&quot; sales expert Mike Weinberg provides a three-step sales model designed to generate consistent business. 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