M a r k e t i n g t i p
Creating an internal feedback loop improves your sales efforts and results
It's not just the responsibility of managers. Many professional development programs encourage peer-to-peer feedback in order to generate and transfer ideas. Using a "buddy system" for sales coaching is a highly productive technique to improve the quality and results of sales calls.
The traditional wisdom is that managers are the most knowledgeable and best coaches, so they should be the ones critiquing individual salespeople. But the reality is that many of the best ideas come from the front lines. The salesperson next door may be able to offer insight and suggestions that a manager could not. The reason is simple - other salespeople have recent experience to draw on; they have tried many approaches and have witnessed what did and did not work. These salespeople can pass along that knowledge to their peers so the entire group benefits from each individual's experience.
While there are many suggested methods for creating an internal feedback loop - from worksheets to special vocabulary to software programs - the most important step in peer-to-peer coaching is to just start doing it. While you could choose to implement a formal program, don't rule out an informal approach. If one salesperson is in a rut or needs a break from calls, he or she can sit with a peer for a few minutes. To test a somewhat formalized program, have one salesperson sit with another salesperson to listen to calls for thirty minutes a day, three days a week.
The listening salesperson will benefit from hearing the style and message of the other. Plus, the listener can provide feedback to the active salesperson after the call. So for instance, the listener might say "I have heard prospects use that objection too and I have found the most success by responding with..." or "when I hear that a vendor is looking for that type of a solution, I offer to them that we can do..." The next week have the two people switch roles, and so on.
The benefit of listening to live calls goes beyond what might come up in a sales meeting. In a meeting, a salesperson might only mention what he or she perceives to be the biggest challenges and opportunities but skip the smaller ones. Or, a salesperson might not realize where improvements can be made. By listening to calls, the peer can experience the totality of the other salesperson's tactics.
Obviously peer feedback loops work best if you have at least two salespeople, but you don't need a large sales staff. If you think you have too few salespeople to get the results you want, consider reaching out to another leasing brokerage company that you know. Is there another company you met at an industry conference or other event? Is there another brokerage in your town? The relationship will make the most sense if both companies are lease brokerages, but specialize in different areas. If you don't know of another company, you can reach out to fellow association members or seek out a relationship at the next event.
Test the effects of creating peer-to-peer critiques to see if they give your staff and your sales a lift.
A i m i n g f o r t h e s a m e - d a y a p p r o v a l
Provide complete model numbers
For the fastest approvals, be sure to provide the complete model numbers for truck chassis, truck bodies and non-titled equipment. Applicants and vendors may often abbreviate the models, but for the most accurate and timely credit decision you'll need the complete model number. Ask the applicant or vendor to be sure you have been supplied the complete model number, then be sure to include it on your application sent to SunBridge Capital.
