On-Demand Webinar: Unfiltered take on AI in Account Planning: Meet DemandFarm’s KAM AI Why Leadership is Important in Sales
In the ever-evolving sales landscape, organizations grapple with post-pandemic shifts. Efficient sales leadership becomes essential to navigate these challenges and remain competitive. Sales leaders not only set strategies and inspire teams to achieve results but also play a vital role beyond mere management. While motivational speeches matter, true leadership demands flexibility, keen observation, and the agility to adjust leadership styles to market changes for efficient sales. Different leadership styles intertwine with sales. Effective leaders reshape a sales department, fostering an environment where teams eagerly strive for excellence. By collaborating with other department heads, sales leaders cultivate a sales culture that propels sales and achieves revenue targets. Leadership Styles in Sales According to a study by Harvard Business Publishing, quality sales managers will play a crucial role in driving revenue in the post-pandemic environment. Let’s look at different leadership styles in sales and their suitability in different sales contexts: 1. Autocratic Sales Leadership An autocratic sales leader comes closest to the conventional idea of a leader who makes most decisions unilaterally and without any participation of the team. Such leaders offer quick guidance to structured teams, especially in high-stress environments, allowing sales teams to focus without distractions. This takes the pressure off the sales team and helps them focus on selling without any unnecessary disruptions. 2. Transactional Sales Leadership Transactional sales leadership follows a result-oriented approach by promoting compliance and goal achievements. They thrive in mid-sized organizations with set sales processes, motivating teams with rewards, incentives, and commission strategies. Such leaders create and follow a system based on feedback, recognition, supervision and rewards. 3. Transformational Sales Leadership Transformational sales leaders are primarily mentors who focus on enabling sales reps with coaching and professional development. They focus on transforming and improving the sales culture of the organization. While they remain committed to the objectives and business values of the organization, they are also open to change. These leaders encourage teams to challenge the status quo, making them ideal for sectors needing continuous innovation. 4. Visionary Leadership Visionary leaders are committed to realizing the company’s vision and create the necessary strategy to guide the sales team towards this goal. Visionary leaders are highly organized and communicative and establish a sales culture that thrives on collaboration. They count on their EQ to win the trust of their team and inspire them to work towards achieving organizational goals. Visionary leaders have been instrumental in turning around companies after the pandemic and motivating sales teams to stay on course. Leading through Challenges The journey of a sales leader is often riddled with several challenges and they must possess the strength, skill and resilience to navigate challenges such as market shifts and competitive pressures. They should be able to handle changes in the industry, technology or overall economic conditions and pivot the sales team. Sales leaders can turn challenges into opportunities with these simple strategies and tips: Lead by example: Successful sales managers shield their team from the storm and absorb most of the stress posed by challenges. They push themselves more to set the right example for their team members. First to arrive at work and last to leave, they are there for individual sales reps to help them adapt and get past challenges. Leverage data efficiently: The ability to collect and analyze data efficiently is integral to sales success. They can’t afford to get buried under data and lose the plot by tracking too much or too little. Numbers can be accurate indicators of performance and leaders should be able to use them correctly to diagnose issues in the sales process. Show empathy: Any crisis or challenge can make or break a team and it’s up to the sales leader to hold fort by displaying empathy for team members. They must be appreciated for their efforts and encouraged by sales leaders to stay on track. It is also important to recognize and reward the contribution of sales reps who perform well under pressure. Communicate a clear strategy: Adversity turns sales leaders into wartime generals who communicate a clear vision to their team members. The only way to weave a tight team is by clearly communicating your expectations and conveying the conviction of getting past difficult times. Developing Sales Leaders Effective leadership is the result of many years grooming and nurturing leadership talent within a sales organization. The sales leadership role is right for someone who understands industry challenges, market dynamics and is adept at negotiating and closing deals. Successful sales leadership requires a certain skill set and the following essential attributes: Integrity: This is a non-negotiable quality of any great leader and goes a long way in inspiring their team and earning their respect and trust. Adaptability: Leaders need to stay abreast of latest technologies, industry trends and market dynamics to lead their team in the right direction. Decisiveness: Sales leaders are required to take many calls that decide the course of the company and its success. They should be able to process data, choose from different options and make quick but informed decisions. At the same time, they must enable their team members to make decisions and groom them as thought-partners. Humility: A good leader should be aware of his/her strengths and weaknesses and balance them with those of his team members. They should possess the humility to recognize their flaws and leverage the strengths of others who are stronger in these areas. Fortitude: Good leaders are made of Teflon and can endure tough conditions while retaining the zeal and drive to meet their team’s goals. Only a strong leader can inspire other team members to look for opportunity in adversity and stay focused. Success Starts at the Top Good leadership is critical for the success of not just the sales team but for the future development of the company. Sales fuels the growth of the organization and good leadership is the catalyst that can turn around a company’s fortunes. Success stems from the top and a good leader can be the
Ocorian’s CRM evolution with DemandFarm
Ocorian, a global leader in corporate and fiduciary services, offers tailored administration and compliance solutions to a diverse client base. Recognizing the importance of data-driven decision-making and the need for comprehensive account plans, Ocorian turned to DemandFarm to: 1. Improve entity relationships within parent accounts. 2. Simplify opportunity ratio visualization. 3. Enable comprehensive opportunity view for growth strategy Read the Case Study here
How Zebra farmed 10% More Opportunities Within Their Key Accounts
Discover how Zebra Technologies streamlined account planning and stakeholder engagement with DemandFarm. Learn how they simplified complex relationships, digitized account planning, and achieved a 12% boost in win-rates, along with a 60% reduction in time spent on manual tasks. Explore their journey from complexity to clarity in this concise case study. Read the Case Study
What is Customer Centricity and Why it isn’t the destination?
Customer-centric companies are 60% more profitable than companies that aren’t. And, this isn’t just a fleeting initiative, it’s a never-ending journey that has a set of philosophies and practices. What does customer-centricity truly mean? In a digital-first world, where personalization and understanding of customer needs are paramount, customer centricity is about providing personalized, connected customer experiences across all channels — before, during, and after every transaction. Gartner defines customer centricity as: “the ability of people in an organization to understand customers’ situations, perceptions, and expectations. Customer centricity demands that the customer is the focal point of all decisions related to delivering products, services and experiences to create customer satisfaction, loyalty and advocacy.” The core concept is to provide a great and meaningful customer experience at each touchpoint along the customer journey. It entails putting consumers’ needs, preferences, and satisfaction first and foremost. The essence of this strategy lies in recognizing that content and loyal customers are the linchpin to business success, fostering repeat purchases, recommendations, and positive word-of-mouth. Customer Centricity: A Never-Ending Journey, not a Destination Customer centricity is neither a one-time accomplishment nor a destination that a company can get at and then abandon. Instead, it is a journey that demands continuous effort, adaptation, and a relentless pursuit of exceeding customer expectations. It’s about recognizing that the customer is the heartbeat of any organization and ensuring that this recognition is embedded in the very DNA of our organizational culture, guiding every action, decision, and strategy. That is why it is important to understand the journey and what would help you along the path. 5 Key considerations for the Customer Centricity journey: 1. Changing Customer Expectations Customer expectations are continually evolving. What delights customers today might become the norm tomorrow. Businesses must adapt to these changing expectations to remain customer-centric. 73% of customers now expect companies to understand their unique needs and expectations. 2. Competitive Landscape The business environment is highly competitive, and companies must continuously innovate to stay ahead. Innovate continuously to differentiate from competitors in a saturated market. 3. Technological Advancements Technology is constantly evolving, and new customer experience management tools emerge that can enhance the customer experience.. Companies need to stay updated and leverage these technologies to better serve their customers. Treat technology not only as a tool, but as an ally in your journey towards enhanced customer centricity. 4. Data and Insights Customer data and insights provide valuable information for decision-making. Continuously collect, analyze, and implement customer data and insights to refine strategies. 5. Organizational Change Implementing a customer-centric approach often involves changing the organization’s culture, processes, and mindset. Ensure the transformation to a customer-centric approach is continuous and consistently reinforced. The 8 pillars of a customer-centric approach 1. Understanding Customer Needs: Deeply comprehend customer pain points and expectations to inform strategic decision-making. 2. Personalization: Enhance customer experiences and connections by tailoring products, services, and communications to their preferences. 3. Continuous Improvement: Commit to perpetual refinement and innovation of offerings and experiences, guided by feedback and data-driven insights. 4. Empowerment of Frontline Employees: Enable customer-facing personnel to make customer-beneficial decisions, minimizing bureaucratic impediments. 5. Employee Engagement: Ensure employees are not only engaged but also understand and are empowered to enhance customer experiences. 6. Long-term Relationships: Focus on cultivating and maintaining a community of loyal customers. 7. Transparency and Trust: Build trust through transparent communications regarding policies, pricing, and product information. 8. Feedback Loop: Establish a system to continuously gather, analyze, and implement customer feedback and insights. Try to make the process easy for the clients and leverage technologies; you implement a QR code to gather feedback and use a QR code generator to get one quickly. Customer centricity is a mindset, a set of practices that demand continuous effort, and an unwavering commitment to meeting the ever-changing expectations of customers. It is a perpetual journey that successful businesses embark upon, ensuring they not only meet customer expectations but exceed them, fostering loyalty and achieving sustainable growth in the process. Check out my fireside chat with Maria Dominguez – PM Global Account Management, DHL, and Russ Sharer – CSO, Brooks Group, for an unfiltered conversation around Cultivating Customer-Centric Culture. View the recording below:
Fireside Chat: Beyond Sales – The Art of Strategic Account Management in the Digital Era
What happens when three industry leaders gather on a Zoom call? You get expert commentary, game-changing insights, hilarious anecdotes, and valuable lessons that will reshape your approach to customer interaction! Join Joshua Gregg – President, Americas at DemandFarm, as he catches up with Maria Dominguez – PM Global Account Management, DHL, and Russ Sharer – CSO, Brooks Group, for an unfiltered conversation. They’re delving into the nitty-gritty – the triumphs and challenges, the well-guarded secrets, and those not-so-secret gems – of Strategic Account Management (SAM). It’s all about nurturing those high-impact relationships that could be the game-changers for your business. Key takeaways: Strategic Thinking: Discover how to turn transactional customers into strategic thinkers who seek your advisory expertise. The Digital Revolution: Explore cutting-edge digital tools that bridge gaps, showcase value, and cultivate collaboration. From Sales to Trust: Learn the art of becoming a trusted advisor by building trust, showing value, and becoming indispensable. AI and You: Delve into the power of AI-driven insights and automation in streamlining your approach and enhancing customer interactions. Navigating Implementation Challenges: Explore real-world stories and strategies for successfully implementing digital tools, aligning personalities, and overcoming cultural barriers. Cultivating Customer-Centric Culture: Discover the vital role of a customer-centric culture in effective tool adoption and fostering meaningful customer relationships. Watch the Webinar On-Demand:
