.png)
About this Author
Thomas Baumgartner is a senior partner at McKinsey & Company in Vienna. Homayoun Hatami holds a senior partner position at McKinsey's Paris office, while Maria Valdivieso de Uster serves as a director of knowledge in McKinsey's Miami office.
2016
Self-Help
10:44 Min
Conclusion
7 Key Points
Conclusion
Sales growth can be enhanced by anticipating trends, aligning with customer preferences, optimizing sales processes, investing in talent, and empowering sales leaders. The future of sales lies in leveraging advanced technologies like AI and outsourcing to specialized firms for improved efficiency and productivity.
Abstract
Sales leaders are ambitious individuals striving for success and financial rewards. Merely meeting monthly quotas isn't sufficient; they must generate significant sales growth in new markets. McKinsey & Company's 2012 book, updated by Thomas Baumgartner, Homayoun Hatami, and Maria Valdivieso de Uster, provides five proven strategies to drive sales growth and inspire sales leaders. Achieving sales growth is vital for business success. Sales leaders can do so by anticipating trends, investing in tools and talent, adapting sales approaches to customer needs, integrating sales channels, optimizing operations, enhancing team productivity through coaching and incentives, and leading by example. Embracing technologies like cognitive agents and automation, and considering outsourcing sales tasks, can shape the future of sales.
Key Points
- Stay ahead of trends to find growth opportunities before competitors.
- Adapt sales approaches to match customer preferences and integrate various sales channels effectively.
- Optimize sales operations by separating sales and support roles to boost revenue and reduce costs.
- Enhance sales team productivity through coaching, performance monitoring, and recognizing non-monetary incentives.
- Lead sales growth by challenging the status quo, motivating teams, modeling change, and prioritizing results.
- Accept technology like AI bots to improve customer interactions and sales processes.
- Prepare for the future of sales by leveraging new technologies and considering outsourcing sales tasks.
Summary
Enhance Sales Growth
Sales executives and other business folks know that sales drive market growth. They're always looking for the best ways to supercharge sales. To be sure they're on the right track, they want strategies that are tried, tested, and proven effective.
Talking to 200 sales leaders from over 100 companies in various industries like consumer goods, tech, energy, finance, and more, we've uncovered five solid strategies.
1. “Find Growth Before Your Competitors Do”
In 2009, the US Congress passed the American Recovery and Reinvestment Act, also known as the "stimulus" or "recovery" act. One high-tech firm saw this as an opportunity. They created a special team to take advantage of the new law. This team developed IT products for hospitals to upgrade their infrastructure and switch to electronic medical records. They beat their competitors, closing big deals with hospitals soon after the law passed.
To succeed in sales, managers must watch trends in government, society, business, and consumerism. They need to spot changes that will affect their markets. This is called "forward-looking sales management.
Share:
Latest Books
No Record Found
Related Books
No Record Found
No Record Found
