Post on 16-Apr-2017
transcript
Jake Dunlap, CEO @ Skaled
Bowery Capital CRO Summit 2015 Optimizing Your Sales Stack For Exponential Growth in 2016
VP of Sales at glassdoor.com Raised over 160 million dollars
Took the company from 0-40 person sales team in 16 months
CEO of Worked with over 40 mid-staged startups over the last 16 months
Companies have raised nearly 200 million dollars in funding and generated millions of dollars in new revenue
A Little About Me
At Skaled, we re v o l u t i o n i z e
revenue development by transforming cl ients’ sales organizat ions into machines
Demand generation to grow your top-of-funnel with qualified appointments
Training led by practitioners who optimize & modernize sales processes, technology & organizations
Process: Advancing your playbooks and scripting to increase success in qualification, proposal and closing
Technology: Assessing 21 key areas of technology, we implement and maximize the right systems for your needs and goals
Organizations: Specializing roles, making data-backed hiring decisions, rapidly onboarding & building a winning culture to retain top talent.
Trends
Options
Prioritize
Implement
The Future
AGENDA
TRENDS IN 3 KEY AREAS
1. Organization
2. Operations
3. Processes
Trends in the Sales Organization
Trends in the Sales Organization: Growing Pains
29% sales orgs planning for growth in 2016
But need to battle…..
Long ramp: 40% orgs report 7-12 month ramp time
High turnover: average rep turnover now 34%
Source: Qvidian Report: Accelerating Sales Rep Ramp Time
Trends in the Sales Org: Technology Augmenting the Sales Force
Purchases are driven by buyer behavior & competition
Prospects are receiving more emails and calls – takes 18 dials to connect with a buyer1
73% companies plan on sales development tech purchase 20151
Technology will replace humans in some areas
By 2020, 85% customer interactions with the enterprise will be managed without talking to humans2
1TOPO Sales Development Technology Report 2Gartner
Source: TOPO Sales Development Technology Report
Trends in Sales Operations
Trends in Sales Ops: Data Availability vs. Data Usefulness
4 in 5 sales leaders are challenged by the amount of data available1
89% of salespeople are missing opportunities due to information overload1
4,300% projected increase in annual data generation by 20202
Data Overload
Only getting worse…
1Lattice: Why Big Data is a Big Deal for Sales 2CSC
Predictive Analytics
Source: Gartner
Predictive hit marketing first Moving into sales….
Source: Gartner
The Rise of Predictive Analytics
Source: Salesforce State of Sales Report
Trends in the Sales Process
Changes in the Sales Process
Changes in Models & Tech:
46% of businesses are moving to an inside sales model1
Customer success tech à 20% increase in up-sell revenue and 50% higher retention rates2
Growing Need for Automation:
Only 2% of cold calls result in an appointment – and it takes an average 6.25 hours to set 1 appointment3
Companies with automated lead management see a 10% or greater increase in revenue after six to nine month4
1HBR 2Gainsight 3Buzzbuilder 4Hubspot
Source: Salesforce State of Sales Report
Know your options
Reference
Bowery Capital Guide to Startup Sales Tools 2.0
Manage & Grow Your Team
Interviewing: Take the Interview
Onboarding & Training: Grovo
Coaching & Incentives: Rivalry, Hoopla
Employee feedback: 15five, Workcompass
Focus: Technology that will streamline hiring, make training more efficient and comprehensive, and increase retention.
Bowery Capital Guide to Startup Sales Tools 2.0
Manage & Grow your team
Bowery Capital Guide to Startup Sales Tools 2.0
Optimize Operations
CRM & Predictive:
CRM: Salesforce
Predictive: Infer
Optimization:
Operations: Insight squared, Lattice
Data Management:
Data entry: RingLead, Zapier
Focus: Technology that allows you to automate & analyze your pipeline, providing actionable insights that enable quick data-backed decisions.
Bowery Capital Guide to Startup Sales Tools 2.0
Optimize Operations
Bowery Capital Guide to Startup Sales Tools 2.0
Optimize the Sales Process
Smarketing:
Social sales: Socedo
Alignment: ListenLoop, Spiderbook
Sales development:
Lead gen: Salesloft, LinkedIn, Datanyze
Email management: Outreach
Sales:
Calling: ConnectAndSell
Customer success:
Customer success: Gainsight
Customer engagement: Skilljar
Focus: Technology that will streamline the sales process, and allow you to better understand and target, with more high-quality conversations.
Optimize the Sales Processes
Bowery Capital Guide to Startup Sales Tools 2.0
ASSESS & PRIORITIZE
Needs Analysis: TOF & Pipeline
Diagram Lead & Technology Flow
Talk to Your Team
Make the Decision
Selling to Leadership
Assessment Step 1: Needs Analysis TOF
What is our ICP?
Where are our target prospects & how do they want to be engaged?
How do we generate leads? Lead flow diagram à
VS. how do we want to generate leads?
Source: ringio
TOF:
Assessment Step 2: Needs Analysis Pipeline & Metrics
What does my sales cycle look like? What type of information do our buyers consume as they move through their buying process? What type of information do I need to report? Tracking trends to determine what matters:
Stage to stage conversion rates Average deal size Sales Cycle Opportunity Pipeline
Source: ringio
Assessment Step 3: Diagram Your Technology Flow
Source: ringio
Don’t forget: talk to your team
Use tools to streamline processes and allow reps to spend more time with prospects
Ask your team about their biggest pains
Discovery
Research
Resources: Bowery Startup Sales Tools
G2 crowd reviews
Deciding to invest
What is the
impact of solving the pain point?
What will the
project
cost?
How will your
project
disrupt existing
workflows?
How long before the
project proves
ROI?
Why should we prioritize over other projects?
Most importantly: Don’t make the investment in a new
tool unless you’re ready to also invest in necessary training and
support to maximize the tool.
Source: Insight Squared Sales Ops Handbook
Selling to Leadership: Proving ROI
Source: Insight Squared Sales Ops Handbook
IMPLEMENTATION & TRAINING
Sales reps waste over 50%1 of their time every day just trying to access the tools and content needed to do their job
1CSO Insights 2TopoHQ 3Qvidian
Consequences of Poor Training & Support
Only 15% of sales technology
purchases result in increased revenue2
Source: Qvidian Report: Accelerating Sales Rep Ramp Time
Improving Adoption
FOCUS ON THE WHY
Readily Available Materials
Use the sales training materials post training
Make sure tools and workflows are added to sales playbooks
Build Support & Feedback Infrastructure
Make sales rep and manager interactions work
Use metrics for reinforcement Source: Vorsight
PREPPING FOR THE FUTURE
Prepping for the future: Automating Calls & Analytics
Optimizing the sales process with automatic dialers & predictive analytics
Takes 18 dials to connect with a buyer1
Source: Infer
Source: Salesforce State of Sales Report
1TOPO Sales Development Technology Report
Conclusions
Changing buyer behavior à growing need to automate the sales process
Successful teams are already adopting tech and you can’t compete without it
You need a process to strategically decide on tech investments
Your systems & team must be agile to experiment & implement new tech
You must commit to training & support
Thank you!
Email me with any questions or comments
jake@skaled.com
Follow me
@JakeTDunlap
Follow Skaled
@Skaledcom