Every originator and manager has heard that well-known truism “sales is a numbers game” from their first day in the business. The assumption is that if salespeople present their product/service to enough prospects, eventually somebody will take what they’re offering. Managers have translated this cliché into a formula: If x number of customers are presented […]
Is Sales Origination a Numbers Game? Read More »
In recent discussions with sales executives, I have asked a critical question: “What percentage of time do your salespeople prospect for new referral sources?” Most managers estimate that originators are prospecting 70% of the time. However, when we tracked actual prospecting efforts, in many cases, that percentage is actually closer to 10% to 20%. With
How Often Are Your Salespeople Really Prospecting? Read More »
In 2015, the retention of top producers (the top 10% of a sales force) will once again be a critical issue for many sales organizations. Losing top performers has a negative impact on a company that reaches far beyond lower volume. A top performer’s presence in a market is not easily or quickly replaced. Studies
Start the New Year Off Right: How to Keep Your Top Producers Read More »
As 2014 comes to a close, many managers feel it is a year they don’t want to repeat. With fairly stable interest rates projected for most of 2015 and a more positive consumer outlook tied to lower unemployment rates and declining gas prices, the year ahead may be better for the U.S. economy. As senior
The Number 1 New Year’s Resolution for Senior Managers Read More »
All managers believe they make smart, rational business decisions. When determining the right strategy, they will tell you that they research, weigh their options and execute. But when the decision doesn’t work out, things get complicated. To protect their initial decision, many managers opt to keep investing either time, money or both in the hopes
Ready to Make Better Business Decisions? Read More »
As we close out this year, it makes sense to discuss what actions managers need to take to ensure sales success going forward. In my experience, managers often misunderstand what drives success in mortgage origination. In Aligning Strategy and Sales, a great book by Frank Cespedes, the author covers the choices, systems and behaviors managers
Three Issues to Master for Success in 2015 Read More »
As we get closer to 2015, many management teams are looking to identify new opportunities for growth to increase revenue. Some companies pursue mergers and acquisitions while others roll out new products and pricing. Regardless of what strategies your company traditionally uses, it is worth exploring a wide range of opportunities for maximum growth. Global
7 Strategies for Sales Success in 2015 Read More »
In a recent meeting with sales executives, they raised an issue that I see playing out at mortgage companies across the board: handling prima donna originators who generate sizable volume but are detrimental to the team. One executive described an originator who treated other branch employees poorly, was hard on the operations staff and knew
Is Your Sales Growth Hampered by Inconsistent Recruiting? Read More »
Last week, I attended the annual MBA convention and not surprisingly, many of my conversations with executives were about why the hiring strategy of pirating veteran originators from other companies no longer works. One executive even lamented how she was tired of pacifying originators who made $750,000 in the past and now were earning only
Are You Hiring for Talent and Culture? Read More »
In my conversations with originators, they will often confide how much more difficult it is to sell today versus in the past. The truth is it is more difficult to sell in the current marketplace. Real estate agents don’t go to the office anymore; brokers don’t want more than a few lenders; and borrowers don’t
What Matters Most: Pricing or Customer Experience? Read More »
