Your reps should have plenty of coaching support from their managers, not just when they start, but throughout their tenure at your company. Implement a structured coaching routine and constantly poll your salespeople to see if they are getting the training and management they need.
While money isn't the only reason reps finance directors email lists leave, paying a below-market rate is sure to hurt their retention. Keep your earnings on target (OTE) in line with, or better than, the typical salary for the position, industry, and region.
Finally, feeling stuck is a huge factor in sales turnover. Make sure you have a defined promotion path. For example, you might want to have a clearly articulated career path from BDR to AE to Senior AE. That way, salespeople can move up as they gain more experience and skills.
In sales, a team’s ability to move quickly is crucial. For example, if a company’s executives decide they want to move into a new vertical, everyone within their sales organization must quickly familiarize themselves with a new foundation, learn some industry-specific terminology to help build credibility with prospects, collectively adjust their sales messaging, and take several other steps to better approach their new leads.
If the team is agile, this process will be doable. If you can’t experiment, learn from your mistakes, and adapt, you’re doomed to failure.
How do you promote agility? Borrow principles from agile philosophy, such as holding a daily 10-minute stand-up — an all-team meeting where everyone stands up to encourage adherence to the time limit.
Have all members answer the same three questions and nothing else:
Provide your reps access to the information they need. Individual and team-wide performance should be available to everyone. Good decisions aren’t made without good data.
Finally, foster a “fail fast” culture. Salespeople should take risks, from trying a new prospecting technique to using different negotiating strategies. As long as they document their results and share them widely, it’s okay if they don’t succeed. The results will help everyone learn and improve.
Collaborate and share knowledge effectively.
Creating a sales culture where salespeople collaborate and freely pass on advice and strategies is essential, but it’s easier said than done. Communication obstacles are one of the most common roadblocks that obstruct successful sales cultures.
