For every deal you lose, someone else is getting richer. if you lose a sale only because of your price, then you haven’t sold a thing.
The good thing with the forex industry of today is the variety of techniques used to sell the product; the bad thing is the few people who know how to use them. And to make things worst, the recycling of employees in charge of this task, skyrocketed over the last few years.
Good sales people know stuff; they know themselves, the company they work for, competition, the customers, substitutes of their offerings and more. You ask them a question and there is nothing they can’t match it with. You don’t ask them a question and they have a way to kick start a conversation.
Where does someone like that acquire such knowledge though? is it from the every day work which involves interacting with people within the same industry? maybe from social media platforms? could it be from the countless calls and success/failures while they undergo the sales funnel? or maybe the internet?
No matter where they get it from, a huge challenge arises when they’re not getting it from their managers. Unfortunately not only does it deprive them from tools needed to get the job done, it also creates indifference towards management and loss of respect to what they’re doing.
Steps towards improving the knowledge and skill set of sales reps is more or less considered unnecessary for some, because the notion that “if a sales rep is good, he/she can sell ice to an Eskimo”, is still alive. How many Sales Reps did you come across that are like that? and especially in an industry as saturated as the forex industry?
Irrefutably every company wants and needs trained personnel but they are limited by their experience as well as the head of department knowledge. In the battle to keep overhead low, they choose cheap rather than quality, superficial attitudes rather than substance, oversold backgrounds rather than accurate plans towards departmental improvement.
Now if we do agree to act on such issue and admit our personnel is not trained properly, our eyes open toward who was supposed to train them. We look back into the department’s history and realize our head was mostly shouting and blaming rather than coaching and training.
If for other reasons (an example is forex industry politics) the choice is not to act on such issue, employee attitudes will start to change, skills will be underdeveloped, human resource will be underutilized, expensive leads will be burned and money will be flushed down the drain.
Despite what might seem a healthy sales department, its always good to go back and evaluate the processes, the policies and procedures, the interdepartmental communication and most importantly each of our soldiers individually in order to have a more complete profile of the department’s function, rather than a report with numbers and in some cases over-exaggerated results.
So if you’re reading this and you’re a Sales Rep, you should demand this from your manager. If you’re the manager and you don’t know to act on this, its imperative you find someone who can.