Business

How the Best Sales Training Can Motivate Your Team to be More Effective

Has your team lost some of its shine? Has there been a dip in morale? According to Salesforce, 69% of sales professionals say their job is harder now than in previous years.

Sales training can help them get back to bringing their A-game. A great program can boost performance by an average of 19%, according to Gitnux. Brainshark says that companies with dynamic coaching programs achieve 28% higher win rates.

Here are five skills your team can master with the help of a great program.

Encourage Teamwork

When teams get on well, morale soars. High morale helps fuel a positive work culture, which is a key building block for a successful business. Happy workers outperform the competition by 20%, according to SnackNation.

When employees are happy at work, it also rubs off on customers. Their positive energy sparks a chain reaction that fosters strong customer loyalty. MyOperator says high employee satisfaction can boost customer advocacy by 12%.

Here are a few ways training classes can help reps forge strong ties:

Encourage reps to work together through role-playing exercises.
Iron out specific team challenges via custom workshops.
Learn how to leverage collective expertise.
Fuel a sense of unity through team-building activities.

Strengthen Emotional Intelligence

Emotional intelligence (EQ) helps build strong rapport and trust with customers. This leads to more fruitful and long-lasting business relationships. A study by HR.com found salespeople with high EQ rake in 2x more revenue than those who have low to average EQ.

Strong EQ also helps reps stay cool and calm in the face of rough challenges. They’re also better able to cope with stress, which lays a foundation for a more stable career path. A study by Salesforce found high EQ can push turnover rates down by 20%.

Sales coaches can train reps how to:

Become aware of your own emotions.
Pick up on emotional cues from others.
Deescalate tense situations.
Tailor their approach to suit diverse clients.

Master Storytelling

Short attention spans and a flood of options make it a challenge to capture and retain buyers’ interest. However, storytelling can break through the noise and grab the buyer’s attention.

Stories also tug at the heartstrings. This creates a sense of empathy and makes the seller more relatable. A powerful story can increase conversions by 30%, according to Search Engine Watch.

In training, sales reps can learn how to:

Use stories to build rapport and create trust.
Structure stories effectively to craft compelling narratives.
Connect with customers using their own personal stories.
Nail the delivery and timing of the stories.

Overcome Objections

In sales, objections are like candy at a carnival. They come in all flavors and are a natural part of the experience. CallBell states salespeople hear objections from 8 out of 10 potential customers.

Fighting customer objections can be counterproductive. As Eckhart Tolle pointed out, “Whatever you fight, you strengthen, and what you resist, persists.” Sales trainers can help sales reps embrace objections as valuable opportunities for growth and success.

They can show you how to:

Identify objections early.
Address objections head-on.
Reframe objections as questions.
Provide clear and confident responses to objections.

Nail the Close

Imagine this: You’ve put your heart and soul into crafting the perfect sales pitch, addressing every concern, and building a strong rapport with your potential customer. The moment arrives for you to seal the deal, but silence hangs heavy in the air.

If you’re in sales, you’ve likely heard this mantra a hundred times: “Always be closing.” Sadly, many reps don’t take the plunge. SalesMate reports that 48% of sales calls end without an attempt to close.

The close is where the money is. So, it’s important not to let the moment slip by. Training can help sales reps lock in on this crucial moment. They’ll learn how to:

Recognize buying signals.
Craft persuasive closing statements
Seize the right moment.
Create a sense of urgency.
Tailor the close to different personalities.

How To Choose the Best Sales Training Program

There’s a vast array of sales training programs you can pick from. Sometimes it can feel like looking for a needle in a haystack. There are five essential elements to watch for to ensure you make the right choice.

Look for courses that:

Include interactive exercises and real-life scenarios.
Focus on practical skills that your team can use right away.
Can be tailored to your team’s specific needs and challenges.
Have trainers with relevant industry experience.
Offer post-training support to keep the momentum going.

Sales teams are the heart and soul of any successful enterprise. As the legendary Zig Ziglar once said, “You don’t build a business. You build people, and people build the business.”

So, it’s crucial for your team to stay motivated and effective. The right sales training program can be the catalyst that propels your reps and your business to even greater heights of success.

Business

PepsiCo Reduces Revenue Projections As North American Snacks And Key International Markets Underperform.

(VOR News) – In the third quarter of this year, Pepsi’s net income was $2.93 billion, which is equivalent to $2.13 per share. This was attributed to the company.

This is in stark contrast to net income of $3.09 billion, which is equivalent to $2.24 per share, during the same period in the previous year. The company’s earnings per share were $2.31 when expenses were excluded.

Net sales decreased by 0.6%, totaling $23.32 billion. Organic sales increased by 1.3% during the quarter when the effects of acquisitions, divestitures, and currency changes are excluded.

Pepsi’s beverage sales fell this quarter.

The most recent report indicates that the beverage and food sectors of the organization experienced a 2% decline in volume. Consumers of all income levels are demonstrating a change in their purchasing habits, as indicated by CEOs’ statements from the previous quarter.

Pepsi’s entire volume was adversely affected by the lackluster demand they encountered in North America. An increasing number of Americans are becoming more frugal, reducing the number of snacks they ingest, and reducing the number of times they purchase at convenience stores.

Furthermore, Laguarta observed that the increase in sales was partially attributed to the election that occurred in Mexico during the month of June.

The most significant decrease in volume was experienced by Quaker Foods North America, which was 13%. In December, the company announced its initial recall in response to a potential salmonella infection.

Due to the probability of an illness, the recall was extended in January. Pepsi officially closed a plant that was implicated in the recalls in June, despite the fact that manufacturing had already been halted.

Jamie Caulfield, the Chief Financial Officer of Pepsi and Laguarta, has indicated that the recalls are beginning to have a lessening effect.

Frito-Lay experienced a 1.5% decline in volume in North America. The company has been striving to improve the value it offers to consumers and the accessibility of its snack line, which includes SunChips, Cheetos, and Stacy’s pita chips, in the retail establishments where it is sold.

Despite the fact that the category as a whole has slowed down in comparison to the results of previous years, the level of activity within the division is progressively increasing.

Pepsi executives issued a statement in which they stated that “Salty and savory snacks have underperformed year-to-date after outperforming packaged food categories in previous years.”

Pepsi will spend more on Doritos and Tostitos in the fall and winter before football season.

The company is currently promoting incentive packets for Tostitos and Ruffles, which contain twenty percent more chips than the standard package.

Pepsi is expanding its product line in order to more effectively target individuals who are health-conscious. The business announced its intention to acquire Siete Foods for a total of $1.2 billion approximately one week ago. The restaurant serves Mexican-American cuisine, which is typically modified to meet the dietary needs of a diverse clientele.

The beverage segment of Pepsi in North America experienced a three percent decrease in volume. Despite the fact that the demand for energy drinks, such as Pepsi’s Rockstar, has decreased as a result of consumers visiting convenience stores, the sales of well-known brands such as Gatorade and Pepsi have seen an increase throughout the quarter.

Laguarta expressed his opinion to the analysts during the company’s conference call, asserting, “I am of the opinion that it is a component of the economic cycle that we are currently experiencing, and that it will reverse itself in the future, once consumers feel better.”

Additionally, it has been noted that the food and beverage markets of South Asia, the Middle East, Latin America, and Africa have experienced a decline in sales volume. The company cut its forecast for organic revenue for the entire year on Tuesday due to the business’s second consecutive quarter of lower-than-anticipated sales.

The company’s performance during the quarter was adversely affected by the Quaker Foods North America recalls, the decrease in demand in the United States, and the interruptions that occurred in specific international markets, as per the statements made by Chief Executive Officer Ramon Laguarta.

Pepsi has revised its forecast for organic sales in 2024, shifting from a 4% growth rate to a low single-digit growth rate. The company reiterated its expectation that the core constant currency profitability per share will increase by a minimum of 8% in comparison to the previous year.

The company’s shares declined by less than one percent during premarket trading. The following discrepancies between the company’s report and the projections of Wall Street were identified by LSEG in a survey of analysts:

SOURCE: CNBC

Business

Old National Bank And Infosys Broaden Their Strategic Partnership.

(VOR News) – Old National Bank, a commercial bank with its headquarters in the Midwest, and Infosys, a firm that specializes in information technology, have recently entered into a strategic expansion of their link, which has been in place for the past four years.

This expansion is more likely to take place sooner rather than later, with the likelihood being higher.

For the purpose of making it possible for Old National Bank to make use of the services, solutions, and platforms that are offered by Infosys, the objective of this expansion is to make it possible for the bank to transform its operations and processes through the application of automation and GenAI, as well as to change significant business areas.

This lets the bank leverage Infosys’ services, solutions, and platforms.

Old National Bank Chairman and CEO Jim Ryan said, “At Old National, we are committed to creating exceptional experiences for both our customers and our fellow employees.”

This statement is applicable to Old National Bank. Infosys is carefully managing the business process innovations that it is putting us through, putting a strong emphasis on efficiency and value growth throughout the process to ensure that it is carried out efficiently.

This is a routine occurrence throughout the entire operation. Because of Infosys’ dedication to our development and success, we are incredibly appreciative of the assistance they have provided.

Old National has been receiving assistance from Infosys in the process of updating its digital environment since the year 2020, according to the aforementioned company.

Ever since that time, the company has been providing assistance. The provision of this assistance has been accomplished through the utilization of a model that is not only powerful but also capable of functioning on its own power.

Infosys currently ranks Old National thirty-first out of the top thirty US banks.

This ranking is based on the fact that Old National is the nation’s largest banking corporation.

It is estimated that the total value of the company’s assets is approximately fifty-three billion dollars, while the assets that are currently being managed by the organization are valued at thirty billion dollars.

Dennis Gada, the Executive Vice President and Global Head of Banking and Financial Services, stated that “Old National Bank and Infosys possess a robust cultural and strategic alignment in the development, management, and enhancement of enterprise-scale solutions to transform the bank’s operations and facilitate growth.”

This remark referenced the exceptional cultural and strategic synergy between the two organizations. Dennis Gada is the one who asserted this claim. This was articulated explicitly concerning the exceptional cultural congruence and strategy alignment of the two organizations.

We are pleased to announce that the implementation of Infosys Topaz will substantially expedite the transformation of Old National Bank’s business processes and customer service protocols. We are exceedingly enthusiastic about this matter. We are quite thrilled about this specific component of the scenario.

Medium-sized banks operating regionally will continue to benefit from our substantial expertise in the sector, technology, and operations. This specific market segment of Infosys will persist in benefiting from our extensive experience. This phenomenon will enable this market sector to sustain substantial growth and efficiency benefits.

SOURCE: THBL

Business

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

The largest regulated water and wastewater utility company in the United States stated Monday that it had been the target of a cyberattack, forcing the company to halt invoicing to consumers.

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

American Water, based in New Jersey and serving over 14 million people in 14 states and 18 military facilities, said it learned of the unauthorized activity on Thursday and quickly took precautions, including shutting down certain systems. The business does not believe the attack had an impact on its facilities or operations and said employees were working “around the clock” to determine the origin and scale of the attack.

water

The corporation stated that it has alerted legal enforcement and is cooperating with them. It also stated that consumers will not be charged late fees while its systems are unavailable.

According to their website, American Water operates over 500 water and wastewater systems in around 1,700 communities across California, Georgia, Hawaii, Illinois, Indiana, Iowa, Kentucky, Maryland, Missouri, New Jersey, Pennsylvania, Tennessee, Virginia, and West Virginia.

SOURCE | AP