Econometrics: Qualifications of Enterprise Sales Organizations

When I first heard about MADD, my first reaction was, "What is it?" Like many of the terms we use in our day-to-day business communications, MADD escapes me. However, the term is not quite as innocent as it sounds. In fact, the acronym MADD has nothing to do with what I'm sure you're aware of: MADD, the symptoms and abuse of alcohol, as well as other substance addictions.

Advocates of the METrics-based sales method argue that targeting better-qualified consumers increases sales success, thereby increasing revenue. In particular, they assert that this type of marketing increases sales by up to nine percent and that businesses that understand and apply these metrics to achieve more favorable sales mix ratios. There are three parts to the metric approach, as described in Wikipedia: the primary measurement (the MADD score); measures of behavior and attitudes (the NLP-based metrics); and the economic buyer (the sales impact to the economy). Critics of the metric approach argue that the first two aspects - behavior and attitudes - can be measured with traditional metrics, while the third aspect - the economic impact to the economy - cannot be. However, there are several arguments in support of the fourth aspect. These include:

There is no universal standard for measuring customer behavior. Some sales methodologyologies, such as those of the FHR, focus on the aspects of sales management that impact profitability; others, such as that of the NLP, focus on identifying motivators or key drivers of behavior. Sales managers can use both of these perspectives to improve their management practices. One possible downside of using a metric approach in which every transaction impacts a score is that it makes it very difficult to evaluate how activities relate to each other. This is why the engagement of an outside party, such as a consultancy firm that understands business, may be preferable.

Metrics may not be optimal, but they are a good place to start. Qualification is a key factor in most sales methodology strategies. Qualification affects the type of clients a seller can attract and the kind of activities that will yield the best return on investment. A good sales qualification methodology should first identify the main activities and qualifying activities necessary to reach the desired results. In addition, the process should also involve measuring the impact of these activities on the qualifying score.

Motivational and other economic buyers face tough challenges when confronted with sales challenges. In this situation, an effective sales methodology should offer them ways to cope with the problems facing them and identify promising opportunities. In general, sellers that are not sure about their core competencies should focus on improving their knowledge and competence through training. But if the sellers lack a clear picture about what they need to do, then a good economic buyer or consultant can be hired to conduct a series of sales competency assessments and provide them with necessary tools and competency development programs.

While this is a good method for short-term sales strategies, it is sometimes not enough to maintain long-term competitiveness. A new challenge will come up every now and then that calls for a new sales strategy. In that case, a qualified and experienced sales force is required to execute the new sales program effectively. Maintaining a strong sales force is one of the most important factors in the overall performance of a seller. And this is why econometric management is considered to be one of the most important aspects of a meddic company's qualifications and sales methodology. For this reason, a company should always train its sales people well.

When establishing a new sales process, there are many things that should be taken into account. First, there is the prospectus. Prospectus includes everything that will be read by the prospect, including his or her objectives and goals. This is one of the most important parts of the sales process and should be created and written very carefully by an expert econometrics company. Aside from the prospectus, there is the sales funnel which is used to identify the targeted prospects.

It is also important to include a pain list. The pain list contains all the problems or objections that the prospect might have against doing business with the enterprise. This is a crucial part of the whole sales process and must be done right. The sales team should identify the pain points of their prospects and then work on them accordingly. This is what the enterprise sales organizations of meddic must do to remain successful.