Post on 28-Jul-2015
transcript
PREDICTABLE RESULTS FOR HIGH GROWTH SALES GROUPS
Top drivers for sales organizations
Source: Boosting Sales Productivity in 2015, Presented by Dr. Richard Rocco, Assistant Professor, DePaul University
Key Drivers for High Growth Inside Sales Organizations
•Define Sales Process•Build a sales model•Define & Develop Competencies•Manage Sales Team for stability and growth
Source: Boosting Sales Productivity in 2015, Presented by Dr. Richard Rocco, Assistant Professor, DePaul University
Predictable sales impact…
• “If you don’t know where you’re going, any road will get you there”Lewis Carroll, Alice in Wonderland
– Growth Projections– Expense Budgets– Headcount– Etc..
A Model and a commitment…• Sales Model
– CRM Analytics sustain and reinforce activities in sales model– Consistent coaching to sales model
• Commitment to hiring and training new reps– Develop a perpetual bench of qualified candidates– Immediately train to the sales model– Coach to sales model– Post Hire: Study and know predictors of success– Discipline
A Model and a commitment…• Sales Model– CRM Analytics that are sustainable and reinforce
activities in sales model– Consistent coaching to sales model
• Commitment to hiring and training new reps– Develop a bench of qualified candidates– Train to the sales model– Coach to sales model*– Post Hire: Study and know predictors of success– Discipline
PRO TIPDo what is right,
convenience aside (the dirty secret of success)
Who Cares ?
• The usual suspects:– Shareholders – Board of Directors– Equity Investors and potential Investors– C-Level Executives– Senior Executives
• Your Sales Team
Who Cares ?
• The usual suspects:– Shareholders – Board of Directors– Equity Investors and potential Investors– C-Level Executives– Senior Executives
• Your Sales Team
PRO TIP Nobody wants to question your
sales analysis. But they will.
Make it reliable and they’ll stop
ProspectConnect – Assess
QualifiedInterest – Est. Value
Closeable/ProposalDemo – Confirm
Closeable/Internal ApprovalTrial Close – Objections – Close
Closeable VerbalSchedule – Close
Closed WonDocument – Thanks – Referrals
High Growth Sales Model Defined…
Source: Paul Charles, Inc. www.paulcharles.com
High Growth Sales Funnel Defined…
• Frequent movement from stage to stage• Clearly defined expectations for activity (ex: 5 x 2 x 4)• Velocity
– Responsibility for volume adds weekly– Time kills all deals
• Adaptability– Recognizing market opportunities
Source: Dealmaker Index, supported by third party research www.tasgroup.com
High Growth Sales Funnel Defined…
• Frequent movement from stage to stage• Clearly defined expectations for activity (ex: 5 x 2 x 4)• Velocity
– Responsibility for volume adds weekly
• Adaptability– Recognizing market opportunities
Source: Dealmaker Index, supported by third party research www.tasgroup.com
PRO TIP #Deals * Value * Win Rate Sales Velocity = -------------------------
Length of Sales Cycle
Sales Model notes…
• Designed around Velocity• Conversion rates• Risk Factors• Forecast Accuracy• Technology and sustainability
Sales Model notes…
• Deal Velocity– How many leads need to be added to top funnel– When in the quarter do they get added– What is the multiplier for your business
Sales Model notes…
• Conversion Rates– Know your conversion rates, build for higher yield– Know funnel stages– Manage Macro (volume) and Micro (coaching)
Source: Aberdeen Group, April 2014
Sales Model notes…
• Conversion Rates– Content Driven• Customized for each market opportunity• SMART
– Specific– Measureable ($,#,%)– Attainable– Realistic – Time Bound
Source: Aberdeen Group, April 2014
Sales Model notes…
• Conversion Rates– Know your conversion rates, build for higher yield– Know funnel stages– Actively manage Macro (volume) and Micro
(coaching)
Source: Aberdeen Group, April 2014
PRO TIP Avg. Pipeline Conversion
Dials to conversation 20:1MQL to SAL: 36%
SAL to Sales Oppty: 32%Oppty to Closed Deal: 29%
Sales Model notes…
• Risk Factors– Competition– Greenfield– Doing Nothing
Sales Model notes…
• Risk Factors– Competition– Greenfield– Doing Nothing
PRO TIPWhat is the only thing you can’t
make more of ?
TIME !
Sales Model notes…
• Forecast “Accuracy”– % of deals closed on time and at $– Opportunity “fall out”, capture for re-marketing– Buy sign awareness– Coverage among buyer personas
– Only then does CRM predicts results…
Sales Model notes…
• Forecast “Accuracy”– % of deals closed on time and at $– Opportunity “fall out”, capture for re-marketing– Buy sign awareness– Coverage among buyer personas
– Only then does CRM predicts results…
PRO TIPRun a “closed” business for last FY in your CRM.
Run forecasts for same period. That’s your accuracy rate.
Forecasting notes…
• Technology– Actively hate CRM ?• Is CRM accurate enough to predict results ? (mgmt)• Make it the carrot, not the stick (sales)
– Is CRM customized for ease of data entry ?• Make it simple, make it quick, it will be used
Forecasting notes…
• Technology– Actively hate CRM ?• Do these 2 things:
– Is CRM accurate enough to predict results ?• Adoption suffers• Seen as a stick, not a carrot
– Is CRM customized for ease of data entry ?• Make it easy, make it quick, make it useful
PRO TIPKeep it simple and it will work for
Salespeople !
Storytime…Context
Market was populated by best in class providers: Error free environmentRegulations prompted adoption of specific technology solutions
VelocityDivided territory up into 3 reps2 Senior, 1 Junior BDRFed all providers into CRM for calling (Day 1 calling)
Modelled sales interactions in CRMLead sourceEntry pointsApproachTiming
RisksLow
Forecast AccuracyHigh, allowed for more growth of teamDeveloped marketplaces for other industries (Lifestyle and Apparel)
TechnologyCRM reflected and reinforced sales model
Storytime…• Results– Acquired 80% of the providers in market area– Incrementally added $2.2 Million revenue– Sales model tracking: 46 days– Shortened sales cycle by 44 days
In summary…• Predictable High Growth Sales –Planned Velocity–Automated with Technology–Measured – Sustainable–Defined–Committed
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