How to Build A World-Class Coaching Program for Field Sales With Sebastian Jimenez
Sebastian Jimenez, the mastermind behind Rillavoice, the speech recording and analytics software for external sales and service teams, joins us to share invaluable tips and insights on creating an exceptional coaching program for field sales experts. In this engaging conversation, we dove into the critical factors to measure and analyze in your field rep coaching programs, the significance of maintaining the proper talk ratios during your sales pitch, and strategies to achieve the perfect balance.
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The Importance of Metrics in Sales Coaching Programs
Sebastian emphasizes that it’s important to look at the end dollar value each salesperson brings and their conversion rate and cost of sales. By analyzing the value of the figures thoroughly, it’s possible to identify the top-performing sales reps, learn from them, and implement their strategies with the rest of the team. However, this process requires ongoing effort and monitoring to ensure everyone performs at their best. The discussion highlights the similarity between a coach implementing a new system with a sports team and a sales coach implementing new strategies with a sales team.
Trey Gibson: What are the top metrics you recommend your customers track and are important to have as part of a good coaching program?
Sebastian Jimenez: To be profitable in your sales process, it’s important to look not only at the end dollar value brought in by each salesperson but also at their conversion rate and cost of sales. If a salesperson is bringing in more money than the others but also getting more leads and their close rate is low, their cost per lead may be higher, making them less effective than other salespeople with lower costs per lead. So, it’s important to consider all these factors when determining the top performer.
Trey Gibson: That’s really good. So you should ensure each salesperson makes enough sales while ensuring the cost of getting those leads is worth it.
Sebastian Jimenez: Right. You should also see how long it takes for sales to happen, and if someone is able to close deals quickly, you should learn from them and follow their methods.
Basically, the process involves identifying the top-performing sales reps, figuring out what makes them successful, and replicating that with the rest of the team. This usually involves going on ride-a-longs and analyzing recordings of calls or in-person interactions. It takes a lot of time and effort, and then you need to ensure the rest of the team implements the new strategies. It’s similar to a coach trying to implement a new system with a sports team – it takes ongoing effort and monitoring to ensure everyone is performing at their best.
The Ultimate Speech Analytics Software For Outside Sales And Service
Rillavoice is a cutting-edge speech analytics software designed specifically for outside sales and service businesses. One of the most exciting features of Rillavoice is that it allows sales coaches or managers to gain a deeper understanding of top-performing techniques while also helping them identify areas for improvement. With Rillavoice, sales reps can dramatically improve their communication skills and boost the effectiveness of their sales efforts.
Trey Gibson: So let’s go ahead and kick over to what Rillavoice does. Can you tell us more about it?
Sebastian Jimenez: Absolutely. Rillavoice is a premier speech analytics software for outside sales and service, ideal for businesses such as solar, roofing, HVAC, restaurant and supermarkets, medical sales, and more. With over 12 million outside sales and service professionals in the United States interacting face-to-face with customers, the Rillavoice mobile app can record and transcribe conversations, analyzing and providing feedback to improve sales. As a sales coach or manager, Rillavoice enables a clearer understanding of top-performing techniques, revealing where low conversions often occur and highlighting the language top-performing sales reps use. By utilizing Rillavoice, your sales force can improve communication skills and boost sales effectiveness.
The Importance of Talk Ratios in Sales
Trey Gibson and Sebastian Jimenez discuss the impact of talk ratios on sales performance. The conversation highlights how talk ratios can significantly impact sales and how even low-performing representatives tend to have a talk ratio that is too high. It emphasizes the importance of keeping a dialogue going and not delivering a commercial when engaging in effective sales strategies.
Trey Gibson: Have you found any statistics on your product that may be helpful to know for our audience?
Sebastian Jimenez: We discovered three significant statistics that can greatly impact sales performance. The first statistic may seem simple, but it holds immense value. Simply put, top performers talk more. It’s not rocket science, but it’s often overlooked. We found that high-performing salespeople have a talk ratio of 45% to 65% during appointments. It’s important to note that this ratio differs from door-to-door sales. During a scheduled appointment, it’s crucial to keep talking.
For example, some low performers talk almost 85% of the time.
While typically, the top performers spend between 45 to 65% of their time communicating. The distribution is heavily condensed within this range, indicating that, on average, homeowners are speaking for nearly 50% of the interaction. Comparatively, average representatives talk more than 72% of the time, while low performers speak almost 85% of the time.
Trey Gibson: Really? Huge difference.
Sebastian Jimenez: A significant difference exists between just lowering the talk ratio from 72 to the low 60s. This has been observed through both data analysis and customer feedback. We’ve had instances where a representative started with a high 70s talk ratio and saw significant improvement with a lower ratio. Interestingly, even low-performing reps tend to have a talk ratio over 80% during presentations, which often results in a monologue that fails to sell the product or service effectively. Essentially, they end up delivering a commercial rather than engaging in effective sales strategies.
“If you’re just doing trial and error without a plan, you can’t go back and see what to fix, and that’s how we’re going to develop a killer system.” – Sebastian Jimenez
“We measure this thing called ‘talk ratio’, and the top performers typically talk 45% to 65% of the time.” – Sebastian Jimenez
“You try to set the agenda first and say, what I want to talk to you about today are three simple things; I want to talk to you about your current payment solution with ” ” I want to talk about some of the pain points we’ve identified from our previous conversations, and I want to talk to you about how our products will help you with those pain points.”
– Sebastian Jimenez