Hacking the 80/20 Rule: Recapturing the Underperforming 80%

80/20 rule

Many suppliers assume that the 80/20 rule (also known as the Pareto principle) applies to their reseller relationships: 80% of their revenue come from 20% of their channel partners. SiriusDecisions research seems to bear this out: most channel partners work with six or seven suppliers, but actively sell for only one or two.

An understandable desire to nurture the most profitable relationships, combined with limited time and resources, often results in tiered partnerships. Top performers receive support, resources and access to exclusive promotions and SPIFs, while the majority of other suppliers get…a login to the partner portal, an occasional email update from their channel manager, and a pat on the back.

But what if this tiered treatment turns the Pareto proportions into a self-fulfilling prophecy? What if the breakdown isn’t nearly that simplistic? And what if you could capture more sales from the vast majority who aren’t actively selling for you? Imagine what even modest gains—say, a 5% increase—could do.

And that’s not even taking into account that some percentage in that underperforming 80% are the proverbial low-hanging fruit: they get your product and would like to sell more of it, but haven’t been given the resources or know-how.

The fundamentals you need to address if you want to truly engage the Lost Tribe of Channel Partners: you need to increase awareness of your products, and you need to increase access to training and marketing collateral so your partners can get what they need, when they need it. And this goes way beyond the partner portal, because let’s be honest here, partner portal engagement statistics are grim.

Sales Support in the Workflow: Beating the 80/20 Rule

Many suppliers still conduct the bulk of their training and sales kickoffs with big, splashy events. These events still have value as a means of connecting with partners and generating buzz, but as a means of driving long-term knowledge retention and behavior change, it’s pretty terrible. The salespeople will have forgotten most of the information within a month, and all the excitement and momentum from the kickoff will have faded, too—allowing old patterns to reassert themselves.

Situating your training, support and sales collateral directly within the sales reps’ daily workflow gives the short bursts of reinforcement they need in order to engage prospects more effectively. What does this look like?

  • It looks like delivering your content on mobile devices so field reps have ready access to information on the go.
  • It looks like short bursts of information that give sellers the specific bit of reinforcement they need to have better selling conversations, instead of dense PDFs, Word docs and PPTs that run 20, 30, 50 pages long.
  • It looks like relevant content that’s intelligently served up based on transaction data—instead of making your resellers dig through page after page of search results in your content portal.
  • It looks like a tool that lets your resellers share your product information and demo videos on their turf, with just a couple clicks, either in person or through email.

In short, to boost channel partner sales effectiveness, you want to reduce content access barriers, and you want a solution that’s easy—perhaps even delightful!—to use, to help drive usage instead of setting up another digital graveyard. A sales enablement tool that integrates with your partners’ workflow, instead of actively pulling them out of it, will go a long way towards capturing the attention and mindshare of that underperforming 80%.

Click here to read about how wheel end manufacturer KIC achieved a record year of sales after providing real-time support and content to their partners with MobilePaks.

Chanin Ballance to Speak on Virtual Coaching at Corporate Visions Conference on Sept 22 and 23, 2015

Join MobilePaks at Corporate Visions Conversations that Win Conference

San Francisco, Calif – September 15, 2015 – Chanin Ballance, CEO of MobilePaks, will be speaking on “Virtual Coaching for Reinforcement” on September 22 and 23 at the Corporate Visions Conversations That Win Conference.

Held in San Francisco this year, Conversations That Win is all about preparing salespeople to deliver remarkable customer conversations. This starts with marketing creating a compelling story that convinces prospects to change, and then choose your company; and then equipping salespeople to deliver that story and articulate value to the market.

Chanin will specifically explore how retention science applied to sales environments increases sales effectiveness, improves productivity, and accelerates sales. She will walk you through how to create sales support that maximizes learning, recall ability, and on-the-job application, so sellers can better articulate your unique value. You’ll also learn how Guided Selling can transform onboarding and training into scalable, just-in-time support—and ultimately result in better selling conversations.

MobilePaks is a Corporate Visions partner, providing the engine behind their Virtual Coach offering.

About Chanin Ballance

Chanin Ballance is CEO of MobilePaks and brings years of technology, business management and marketing experience to this top sales enablement software solution provider. Chanin is a frequent speaker on the topics of learning, brain science, mobile engagement, and sales enablement solutions.

About MobilePaks

MobilePaks helps companies improve selling effectiveness and productivity with tools for developing and delivering sales content and support. Using an exclusive Retention Science-based approach, MobilePaks is the only system that helps organizations create content based on the way sellers learn, retain and apply information. Based in Portland, OR, MobilePaks can be found at www.veeloinc.wpstagecoach.com or @mobilepaks.

Chanin Ballance to Speak at Dreamforce 2015 Conference on September 17

dreamforce_15_cloud_logotype_400px

San Francisco, Calif – September 8, 2015 – Chanin Ballance, CEO of MobilePaks, has been invited to participate in a panel discussion on September 17 at the upcoming Dreamforce 2015 Conference. The panel topic will be on Sales and Marketing Alignment, and Chanin will be joined by InsideView CMO, Tracy Eiler, and VP of Enterprise Sales, Andrea Austin.

The panel is scheduled for September 17, from 1:30pm to 2:30pm. The Dreamforce Conference is held in San Francisco September 15 -18, 2015 and is sometimes referred to as the Superbowl of Software.

Saleforce.com’s annual gala, Dreamforce, has supplanted Oracle OpenWorld as the software industry’s monster event, and it just keeps getting bigger. Approximately 160,000 people are expected to flood downtown San Francisco, equal to almost one-fifth of the city’s population.

Scores of companies that are built on top of Salesforce’s cloud platform or tied into its ecosystem view Dreamforce as the most important event of the year.

MobilePaks is also proud to sponsor the InsideView Open Lounge at the event.

About Chanin Ballance

Chanin Ballance is CEO of MobilePaks and brings years of technology, business management and marketing experience to this top sales enablement software solution provider. Chanin is a frequent speaker on the topics of learning, brain science, mobile engagement, and sales enablement solutions.

About MobilePaks

MobilePaks helps companies improve selling effectiveness and productivity with tools for developing and delivering sales content and support. Using an exclusive Retention Science-based approach, MobilePaks is the only system that helps organizations create content based on the way sellers learn, retain and apply information. Based in Portland, OR, MobilePaks can be found at www.veeloinc.com or @mobilepaks.

Seller Confidence + Good Selling Behavior = Better Sales Effectiveness

Seller Confidence

“Learn to love yourself before you can expect anyone else to” may be a platitude, but the basic sentiment is true of virtually any relationship, including that between a seller and a prospect. In this case, sellers must first gain confidence in themselves before they can expect a prospect to be confident in them and their product.

In an in-depth study on confidence and sales behavior on adaptive selling, Sergio Román and Dawn Iacobucci found that a significant portion of the variance in selling behavior is influenced by confidence, with confidence directly contributing to desired sales behavior. That same study cautions, however, that mere confidence isn’t enough—confident sellers who don’t practice that desired sales behavior don’t show the same increases in sales performance.

So how do you achieve that one-two combination of confidence + good sales behavior? Ongoing training and just-in-time support are two of the best methods for fostering lasting gains.

Ongoing Training

According to The Sales Alliance, without post-training follow-up, salespeople lose 80%-90% of what they learn after a single month. Imagine floundering in the field after a training boot camp, and repeatedly not meeting performance milestones. Talk about demoralizing.

Providing short, interactive training bursts available directly in the salesperson’s workflow provide big boosts to knowledge retention and seller confidence. The human memory is a fickle entity. On-demand training and refreshers that provide concrete advice on the challenges relevant to the sales rep in the moment, in particular, can help refresh recall and increase confidence through familiarity and repetition.

Providing training, not just for the first three months, or the first year, but throughout a seller’s entire run with a company, will ensure that they are more informed, more confident, and have the reinforcement they need to practice the most effective sales behaviors.

Just-In-Time Support

For many sellers, the most nerve-wracking moment is right before interacting with a prospect. To boost their confidence, companies can provide just-in-time support based on prospect type, product, buying cycle, and other transaction-specific factors. Sellers can access short training bursts and reminders at precisely the point when they most need them.

To illustrate: Skyward, a leading admin software provider for K-12 schools, found that seller confidence increased 30% after implementing MobilePaks Guided Selling™. The just-in-time support and content recommendations, available directly in their CRM, allowed the sales reps to review key details before engaging prospects. The ability to review information boosted seller confidence by 30% and resulted in reps being able to take the sales conversations to a whole new level.

Conclusion

What you want to foster in your sales team are confident sellers with good sales chops. Through consistent training, positive reinforcement, and finding different ways to empower your sellers, you can boost sales and improve company morale.