#423. Increase Sales by Increasing Diversity. With Lori Richardson.
Lori Richardson, Founder and CEO of Score More Sales, and President of Women Sales Pros, joins me again on this episode of #Accelerate! (Please also listen to Episodes 19 and 71.)
[:53] Lori’s company, Score More Sales, helps mid-sized companies to solve sales issues. She also has a pet project to see more women in sales leadership. She shares her thoughts on leadership diversity.
[2:34] In the last year, Lori has been working to understand how women are influencing the B2B sales landscape. She suggests tactics companies can take to hire more women in sales.
[5:41] Lori talks about traveling to universities and colleges to speak to women about B2B selling. If they are thinking retail, can they refocus on B2B? Lori notes that most successful women in B2B had family role models they followed.
[9:30] Lori considers certification and degree programs to have an influence. The Women Sales Pros website is planning to feature more success stories, including the financial rewards.
[12:18] Recruiting strategies: using gender-neutral language in job descriptions, such as collaboration, helping, working together, and results, adds great interest for women.
[13:44] Sales research shows that on average, women perform at a higher level than men, so include them! Diversity improves a team. There is increasing diversity among clients, and sometimes a woman connects where a man does not.
[15:35] Lori attended a sales conference recently. Did she see more male or female presenters? Lori asks you to think about that at your next sales conference.
[17:46] Women Sales Pros are women sales experts. At first, they were not typically called to speak. Now, they speak on main stages, and at companies. Lori sees huge progress, and has great goals for more women in sales and leadership.
[19:11] Lori considers not hiring more women to be a costly sales management issue. Lori asks, If you could increase revenues by 5 or 10 percent, why wouldn’t you?
[19:45] Lori says to consider what an applicant sees in your company when they interview. Do they see a professional work environment, with an opportunity where they could be promoted? Do they see people like them in high positions?
[22:50] What does Lori say about pay inequity? There is commission, and then there is salary. How does territory allocation create inequity? Bad sales management has costs.
[25:35] Lori suggests evaluating the sales team, pipeline, and process, and making some very educated data decisions around accountability, when a salesperson gets lazy. They will often select themselves out, and solve a problem.