article | June 10, 2014
Get Better New Product Results with Great Coaching
B2B companies launch thousands of new products every year. Chances are, you’ve already launched one, or you will before year end.
Perhaps you’ve experienced a common launch challenge: Getting your reps to sell it quickly. This post is about how to drive new product success through sales coaching.
Download the Coaching for Results Case Study. Learn how a $6B company used a better approach to get results.
A Common Approach
Many companies enable sales to sell new products in some form of the following:
Studies have shown people forget 70-80% of training content 30 days after training events. Your reps won’t retain information about the new product. You pull everyone out of the field, disrupt productivity and miss the goal.
This happens because there is a vital step missing in this approach: Coaching.
Sales adoption doesn’t happen in the classroom. It happens in the field. And it doesn’t happen by itself. It has to be driven by your front line sales leaders. In order to do this successfully, they need an execution plan.
3 Steps to Sales Coaching
There are 3 steps to sales management coaching:
Much like the event, your managers won’t simply be ready to just start coaching. This requires preparation and communication.
Here are several items to consider:
–Number of new product sales calls manager attend with each rep
–Leading indicators like new product opportunities created, or deal advances
A final point to consider is how this gets introduced to your sales leaders. They’ve got to know what the expectations are in order to succeed. You’ll need a rollout meeting with everyone in attendance.
You’ve established and communicated your coaching goals. Now, your leaders need to do it. This is the most important phase, as it’s all about execution. Some examples you might consider to help your team:
What deficient areas should sales managers look for? Here are examples of gaps they might look for with their reps:
What action should the manager take to improve performance? Can the manager articulate a clear action plan to his/her reps? Examples of progress here are:
What tools are at the manager’s disposal for coaching? Consider a few of the following job aids:
If this phase succeeds, real change will happen in your sales force. Your managers now know what to look for. They have guidance on how to take action. And, they have tools to help them make it happen.
You’ve set the objectives of your coaching program with your leaders. They’ve spent time in the field working with reps on development and actions. So what happened? This phase is about summarizing the following:
This is the closed-loop portion of your coaching process that shows you what happened. Because you Prepared, you can tie results back to your objectives. Your managers Executed, so you know what worked best. You can look back to the interactions, tools used and action taken. From here, you can take away the positives and improve upon the negatives.
Sales coaching will increase your chances of success when launching new products. Following these 3 steps will help you:
See how a $6B company improved their results using this approach. Check out the Coaching for Results Case Study.
Although the COVID-19 pandemic is creating challenges that businesses have never dealt with before, ...
We all know the typical schedule and flow of these events. A recap of last year’s performance....
Moving from an SMB customer base to enterprise customers sounds like an excellent idea when presente...
Entering a role as a new sales leader can be challenging enough. Entering a new role within a legacy...
When a CEO steps into a turnaround situation, investors and board members are anxious for change. Em...
We are facing unprecedented challenges with the COVID-19 outbreak, but we are all in this together. ...
Recent world events have only accelerated a trend that we have seen over the last two decades &ndash...
Are you about to hold your annual sales kick-off meeting (SKO)? If you are, you are about to t...
SBI TV episodes bring you Sales and Marketing insights from B2B industry thought leaders and growth experts, on topics like product, pricing, customer experience and success, and go to market. Catch up on new and previous episodes here.