Post on 08-May-2015
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Welcome!
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Managing a Sales Process of Actions that Lead to Sales
Growth
Your Hosts:
Craig Klein, CEO, SalesNexus.com
18 years as a sales executive. Hiring,
training sales people. Developing lead
generation and business development
campaigns.
Jim Wilkinson, CEO of The Strategic CFO
30 years in finance, accounting and
private equity including Ernst & Young and
Capstone Funding.
Forest Cassidy, CEO, LeadFerret.com
Millions of B2B contacts with emails, FREE
2013 Sales GrowthWebinar Series
Magic 5 of Content Based Email Marketing that Drives Sales Leads
LeadFerret search
• Title• Revenue• Employee
s• SIC Code• Location
500 contacts with emails ea. month
LeadFerret search
• Title• Revenue• Employee
s• SIC Code• Location
500 contacts with emails ea. month
Today we’ll discuss…
1. Why sales forecasting matters
2. Common Problems with Forecasting Sales
3. What is a sales process?
4. Methods to Measure the Pipeline and
Improve
5. Examples and Your Questions
How does a forecast get used?
Sales Management
• Tracking progress toward goals of the sales team and individuals.
• Provides specifics for coaching of sales reps.
• Provides a benchmark to compare sales people to each other
• Creates a competitive framework
Business Financing
• Bankers want to see your sales forecast
• Can’t be a simple extrapolation of last year
• Must be based on specific market/account intelligence and projections
Why do financial projections fail?
Unable to forecast sales accurately!
• Can’t manage investments in inventory, additional
staff, etc.
• Costs don’t match income or demand.
• Missed opportunities.
• Damages profits.
Sales Process?
A series of steps that lead to an order1. Cold Calls or Emails2. Set Appointment3. Presentation4. Proposal5. Closing
Where is the activity?Where is the cost?Where do things get stuck or stall?
Time is Limited and ValuableOnly 40 hours in the weekNeed to spend time prospects that have a high probability to purchase
Control is LimitedYou can’t control prospects you talk to You can control which prospects you talk toImproves deal and pipeline management
Knowledge is PowerUncovers painProduces better leads
Relationships are KeyMakes a better impressionDecreases prospect’s guardMakes sales activities more conversationalBuilds rapport
Why Qualifying is Critical
Sales Pipeline – What to measure?
Identify measurable metrics that lead to sales!
Steps in the process• Leads in• Qualified Leads in• Proposals• Presentations• Demos• Appointments• RFPs
Sales Pipeline – What to
measure?
Identify measurable metrics that lead to sales!
Indicators of performance
• Response Time
• Event attendance
Indicators of Interest
• In coming calls
• Downloads of whitepapers, ebooks, etc.
• Clicks on key emails – buyers guide, competitive
comparisons, etc.
Close Rate?
% of opportunities that enter the pipeline and close.
Limit to opportunities that meet minimum qualification standardsWhat makes a real opportunity?
Compute Close Rate as…
• Closed Deals / Total Leads
• Closed Deals / Qualified Leads
• Large Opportunities Closed / Large Opps
• Small Opportunities Closed / Small Opps
• By Product or Service
Surprises?
Lower profit margin on large deals?
Higher overall profit margin on certain products
Higher overall profit margin on leads from specific advertising
Sales Pipeline?
Measuring only what comes out the end – sales $
No control, no ability to adjust or compensate
The Big Reveal!
Where do opportunities stall? Why?
After the proposal• Sticker Shock?• Is the value clear?• Is the proposal coming too early?
After the demo• Demoing to unqualified prospects?• Wrong people in the demo?• Budget / ROI case not clear?
What can we do about it?
Reliable Forecasting
Give it a few weeks or monthsGet a feel for the benchmarks“30% of qualified opportunities close within 45 days…”
Project sales based on these benchmarks• By sales person• By product• By region• By size of opportunity• Each category has it’s own benchmarks
Sales Forecasting Spreadsheet
Sales forecast – based on historical close rate
Automated Sales Process
In-depth SalesScripter Training Feb 20th
• Pain• Qualifying• Voice mail scripts• Follow up emails
• Much more!
• SalesScripter
www.salesscripter.com
“360 degree View of the Customer
Relationship for Business Profits”
February 13th at 4pm ET
Register here - SalesNexus.com/resources/webinars
Join us next Wednesday!
Get a free copy of the Sales Pipeline
spreadsheet.
Email Saundra Wathen, at Strategic CFO -
swathen@strategiccfo.com
Sales Pipeline Sheet
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