Quit sales to live in a Camry?!

Published: Wed, 10/11/23

October 11, 2023

TOGETHER WITH

Welcome back. Last week’s blowout jobs report shows the economy is still charging full-steam ahead, though it might mean that interest rates will continue to go up. So what does this mean for you? The same thing everything else ever means: prospect, follow-up, close, get paid. But for now, enjoy this week’s issue of The Quota.

NUMBER OF THE WEEK

2-3

Salespeople only follow up 2-3 times on average before quitting.

Source: HubSpot

SALES ROUNDUP

Here’s what’s happening in the sales world this week:

Have you ever wanted to quit your sales job and live in a Toyota Camry? No? Well one woman did just that, and was recently profiled by Insider. Monica Maragos had a well-paying sales job but had the itch to travel and be outdoors. So she did what almost nobody else would and quit her job, got rid of almost everything, and took off (in the 2017 Camry). The article breaks down her budget and how she spends her time. Check it out here.
Sales teams at Google, Twilio, and DataRobot are using AI to respond to RFP questions, according to a recent article in Wired. Each company has built an RFP AI bot which can take an RFP, then scour thousands of internal files for relevant information, before generating a response. Sales reps then copy and paste the answers into a formal document and make a few adjustments. You can read more about what’s happening here.

FEATURE

graphicwithart/Shutterstock.com

Sales reps are overwhelmed by new technology, according to the Harvard Business Review

Picture this: a bunch of sales leaders around the globe, in their comfy swivel chairs, are brainstorming ways to boost their sales. Finally, they come up with their solution: let’s give the reps one more thing! Yes, one more app, one more course, one more everything. It’s akin to asking someone to juggle while riding a unicycle, blindfolded. Can it be done? Maybe. Should it? Well, what do you think!?

According to a recent Gartner poll, only 25% of B2B sellers feel they can juggle all the balls thrown at them. Yet, when they do drop one, sales leaders throw them…wait for it…more technology. Because, you know, when you’re drowning, surely an extra bucket of water will help!

The data drops a truth bomb: sellers overwhelmed by tech are 43% less likely to meet their targets. It’s not just about missing a few sales – it's like aiming for a dartboard and hitting the wall. According to a recent article in the Harvard Business Review, new technology is frequently making reps’ jobs more cumbersome, and still has a ways to go.

The Stages of sales tech maturity

Sales tools were meant to be the wind beneath a seller's wings. But nowadays, they feel more like chains weighing them down. Technology, instead of streamlining things, has often complicated the journey.

However, with the recent advancements in AI, there's a glimmer of hope. What if, instead of heaping more tools onto sellers, we let the tools do more of the heavy lifting?

As per Gartner's vision, there are four evolutionary stages of sales tech maturity:

Stage 1: Simple automation— salespeople use basic automation tools and AI that assist with simple activities.

Stage 2: Assisted selling — Salespeople use AI-assisted automation tools to improve productivity.

Stage 3: Automated selling — Technology is a full part of the sales team and plays an active role in decision-making and execution.

Stage 4: Autonomous selling — Technology can completely automate the sales process and make decisions on its own.

In Stages 1 and 2, humans make decisions and execute with the help of technology. But in Stages 3 and 4, there is a shift to machines making decisions and executing tasks (with human guidance), with both man and machine sharing actual responsibility.

Though it’s still hard to imagine a fully-autonomous system (Stage 4) for intricate B2B sales, many organizations are currently stuck (and overwhelmed) on Stage 2.

What the future looks like

The current advantage (most) human salespeople have is their ability to “read” their prospects’ body language, vocal tone, word choice, and everything else humans glean about each other in order to get a feel for what the other person is thinking.

The sales technology of the future will (supposedly) be able to do all of those things just as good as a human sales rep through natural language processing and emotion AI. Picture accurate real-time feedback during sales pitches, highlighting moments of strong buyer reactions, while offering a chance for instant adjustments.

In the meantime

From Harvard Business Review: “In the future, the role of the salesperson will be about doing fewer things, but doing them better. Sales leaders must combine the transformative power of AI with the uniquely human capabilities of their salespeople to drive high-margin deals.”

But in the meantime, sales leaders and teams would be wise to ensure the tools their teams are using are helping them sell, rather than simply adding more busy-work. There are many effective sales technologies out there (many of which we highlight in this very newsletter). The future is fast approaching, and new tech can’t be ignored. But if it’s not helping your team sell, then it needs to go back on the shelf.

THREE LINKEDIN #HACKS TO CALM YOUR Q4 SCARIES

Ahh…October. The leaves are changing, apples are being picked, and Hocus Pocus is in your movie queue — any chance your forecasting sheet is staring into your soul, waiting for your next deal to close in Q4, or is that just us? K. 🙃

So what can you do to gain some momentum?

Spoiler: Get on LinkedIn! Your profile picture is set. Your headline is catchy. Your About section: a personalized masterpiece filled with your expertise and personal interests. Now what? Resist the urge to “pitch slap” the next prospect you find and want to connect with. Instead do this:

Connect with your buyers! Yes this is sales 101 but we'll bet $20 that you're not connected with everyone in your active deals.
Use their LinkedIn profile information to send them a Show Me You Know Me email with a killer subject line. Hint: if you want a response from our CEO, make the subject line "39 speeding tickets + Switzerland + Your Company Name" instead of "Samantha, Quick Question?"
Comment on their posts or the posts they're commenting on. Bonus? Execs that post content tend to get decent "likes" but almost NO comments. Why? Because people are either too nervous to chat with them, don't know what to say, or are just a touch lazy. Be the one to step up to the plate with something meaningful.

Want another simple, yet often forgotten tip that can move the needle in your favor? Use code: BUBBLEHUNTING to watch our #short (odd name but stay with us!) for FREE by October 31st and you’ll be automatically entered into our raffle. One winner will receive 45 minutes of Sam’s time to ask her ANYTHING about LinkedIn, sales, or how she still has a drivers license… :)!

Try our Free #short for Prospecting on LinkedIn here!

MEME OF THE WEEK

Source: Instagram -- Sales Humor

LOOKING FOR A NEW ROLE?

Stuck with unrealistic quotas? A micromanaging sales manager?Microwaved fish in the break room?!

If you're looking to make a change, our friends at Cox Business are hiring! Cox offers:

Competitive salary plus top-notch bonus & incentive plans
Full benefits (including healthcare from day one)
Extra perks (like free home internet, cable and smart home automation)
Career advancement and professional development

Browse open sales roles from entry-level to leadership positions here.

Browse open roles

QUIZ

Approximately how many salespeople work at Google?

A. 10,000
B. 30,000
C. 40,000
D. 15,000

SALES FAILS

Each week, we bring you the most cringe-worthy sales moments from across the web. To submit your sales fail story for consideration, click here. (Don't worry, you'll remain completely anonymous).

I sell software in a relatively narrow niche. We only have a few competitors, but whenever a prospect is looking for a solution, there’s a very good chance they’re looking at one of our other competitors along with us.

When I first started here, I had a call with a prospect who seemed like a good candidate. He didn’t seem price-sensitive and was asking all sorts of great buying questions. We had been on a call for close to an hour when he asked about one of our competitors. The one he asked about was our “main” competitor, and we tended to compete for a lot of business.

At first, I played it safe and talked about some features we had that they didn’t have. But he seemed to kind of egg me on a bit about how competitive we were with each other (or this might have been my imagination), and I started kind of laying into them and got into some of the bad things we knew about them (they had just lost their CTO, they had some nasty reviews etc.)

We finished the call and the prospect told me he would be in touch. I sent him a recap and next steps email, but he never reached back out, so I followed up a few days later. He responded to my email saying that he couldn’t work with a company that badmouths their competition, even though it felt like he was basically encouraging me to badmouth them. In any case, it was a lesson learned — just stick to the facts!

Anonymous Location withheld

GRAPH OF THE WEEK

Source: LinkedIn Poll -- October 2023

WORTH A PEEK

You’ve probably heard of the "power of storytelling” in sales before. But what the heck does that even mean? HubSpot has a nice article about the 5 steps to telling a better story in your sales presentation. It’s detailed and actionable. Check it out here.

ASK THE QUOTA

Want to submit a question and be featured in our advice column? Click here. (Don't worry, you'll remain completely anonymous).

Dear Quota Team,

I’m hoping you can help me. In 2020, I got an AE job at a company that I had admired for a while. It’s not super-well-known, but where I live, it’s a pretty big player. The best thing about the job was that they paid really well. It had a great base and a high commission rate, which, as everybody knows, is not super common. The culture wasn’t incredible or anything, but they treated us fairly and professionally.

I made just under $185k in 2021, and was on track for about the same in 2022 when things really slowed down for the company. About a year ago (November 2022), they conducted layoffs and I was one of the people who they let go. I was honestly really surprised because I was in the top half of performers every quarter, but I also negotiated a higher base when I started so maybe that had something to do with it.

Anyway, I wasn’t happy about what happened but I am still young (28) and I got a job pretty quickly in a slightly different industry. My base was lower and I went to a much lower-key company, but all in all, it has been pretty solid. This year, I’m on track to do about $160k, which isn’t a huge pay cut. The culture here is pretty decent too, so I have no complaints there, but I would say it’s more boring than the previous company.

Last week, the company that laid me off reached out and asked me if I’d be interested in coming back. It was surprising to get the call, and kind of exciting. I talked to a manager (he wasn’t my manager, but I did know him) who promised a similar pay package to what I had before. I am strongly considering going back, but I don’t want to make a big mistake. What are your thoughts? Is it a mistake to go back to a place that let you go, or is it just business? Honestly, I’m probably just looking for someone to confirm my gut feeling that I should take this opportunity again.

Contemplating in the West

Dear Contemplating,

Go with your gut. It was a job you enjoyed and the money was good — what’s not to like? The only thing we’d suggest is to do some research on whether the company is still growing/closing deals like it was when you were there in 2021. After all, there was a reason why they had to do layoffs, right? But if that checks out and you still feel good about going back, then go for it. Good luck!

Quiz Answer: B — 30,000 (you can read the source article here)

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Today's email was written by Ken Kupchik, Erica Furgiuele, Steve Rado, and Emily Hill.

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