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© Copyright 2014 The Sales Management Association.
Sales Management Association Webcast
18 June 2014
Presented by
Pursuit of Performance: Findings from the 2014
Miller Heiman Sales Best Practices Study
About The Sales Management Association
Slide 2
© 2014 The Sales Management Association. All rights reserved.
A global, cross-industry professional association for sales
operations and sales management.
Focused in providing research, case studies, training, peer
networking, and professional development to our membership.
Fostering a community of thought-leaders, service providers,
academics, and practitioners.
Learn More: www.salesmanagement.org
Today’s Panelists
Slide 3
© 2014 The Sales Management Association. All rights reserved.
#PerformancePursuit
©Copyright 2014 MHI Global. All Rights Reserved.
THE PURSUIT OF WORLD-CLASS PERFORMANCE
2014 MHI Global
Sales Best Practices Study
©Copyright 2014 MHI Global. All Rights Reserved.
Original Rules of Basketball. Dr. James Naismith January 15, 1892
13. The side making the most points in that time is
declared the winner
©Copyright 2014 MHI Global. All Rights Reserved.
Playing Field Account, Territory, Market
Opponents Competitors
Strategy How to Win
Rules Expense – Comp Plan
©Copyright 2014 MHI Global. All Rights Reserved.
Number of Qualified Opportunities
New Account Acquisition
Average Account Billing
YOY Existing Customer Growth
Quota Achievement
Forecast Accuracy
Revenue
©Copyright 2014 MHI Global. All Rights Reserved.
Performance
2013 Performance
GAP
Customer Core Collaborative Culture
Calibrated Success
©Copyright 2014 MHI Global. All Rights Reserved.
0%
20%
40%
60%
80%
100%
2012 2013
World Class All Respondents
Gap Growth We know why our customers buy from us.
CUSTOMER CORE
Gap Growth
+14 pts
+4 pts 90% 94%
73% 63%
-10 pts
©Copyright 2014 MHI Global. All Rights Reserved.
0%
20%
40%
60%
80%
100%
2012 2013
World Class All Respondents
Gap Growth Our organization collaborates across all departments to pursue large deals.
COLLABORATIVE CULTURE
Gap Growth
+9 pts
+4 pts 89% 93%
48% 43%
-5 pts
©Copyright 2014 MHI Global. All Rights Reserved.
0%
20%
40%
60%
80%
100%
2012 2013
World Class All Respondents
Gap Growth Our sales performance metrics are aligned with our business objectives.
CALIBRATED SUCCESS
Gap Growth
+3 pts
0 pts 93% 93%
45% 42% -3 pts
©Copyright 2014 MHI Global. All Rights Reserved.
Revenue Number of Qualified
Opportunities
New Account Acquisition
Average Account Billing
YOY Existing Customer Growth
Quota Achievement
Forecast Accuracy
2014: +22%
©Copyright 2014 MHI Global. All Rights Reserved.
Customer Core
Provide Perspective
Behaviors
Collaborative Culture
Conscious Collaboration
Calibrated Success
Performance Accountability
©Copyright 2014 MHI Global. All Rights Reserved.
The Pursuit of Performance The MHI Global Sales System® 2014 MHI Global Sales Best Practices Study 3 Behaviors of World-Class Sales Performance 6 Elements of the Sales System 12 Behaviors That Impact Performance
Credentials Xerox 1984-89 Field Sales Gartner Group: 1989-2006 Sales Rep – Sales Manager: 1989-96 WW Sales Operations: 1996-01 VP CRM/SFA Analyst: 2001-05 WW Field Operations: 2005-06 SiriusDecisions Creator, Sales Operations Strategies 2006-11 http://www.linkedin.com/in/joegalvin32
Joe Galvin Chief Research Officer Miller Heiman Research Institute
©Copyright 2014 MHI Global. All Rights Reserved.
Executive Summary : MHIGlobal 2014 Sales Best Practices
http://goo.gl/utNmyD
www.Millerheiman.com - What’s New
©Copyright 2014 MHI Global. All Rights Reserved.
MHI Global: Empowering Growth
MHI Global helps companies and their sales leaders globally build and sustain
successful, customer-focused high-performance organizations that can drive profitable, predictable top-line growth.
©Copyright 2014 MHI Global. All Rights Reserved.
©Copyright 2014 MHI Global. All Rights Reserved.
World’s largest ongoing study of complex, business-to-business selling and sales management practices
• More than 30,000 participants over last 11 years.
• Not exclusive to MHI Global clients or alumni.
• All Respondents filtered to reflect complex sale; 3+ decision makers.
• Study includes 3 sections: Demographics, Behaviors, Metrics
• Analysis defines key behaviors leveraged to drive performance.
©Copyright 2014 MHI Global. All Rights Reserved.
N=1,155
©Copyright 2014 MHI Global. All Rights Reserved.
CRITICAL SALES ACTIVITIES • Analysis elevates activities most linked to
sales performance
• Identify respondents that collectively and consistently execute these 12 behaviors
• Designate this sub-segment as world-class population
VALIDATE WITH SALES METRICS
• Number of Qualified Opportunities
• New Account Acquisition
• Average Account Billing
• YOY Existing Customer Growth
• Quota Achievement
• Forecast Accuracy
WORLD CLASS • Small percentage of respondent base,
8.5% in 2014 • Outperforms All Respondents on
metrics measured by 22%
©Copyright 2014 MHI Global. All Rights Reserved.
Customer Core
Provide Perspective
Behaviors
Collaborative Culture
Conscious Collaboration
Calibrated Success
Performance Accountability
©Copyright 2014 MHI Global. All Rights Reserved.
Organizational Attribute
Individual Behavior
Cultural Component
Calibrated Success
Performance Accountability
What do we measure, recognize
and reward?
Customer Core
Provide Perspective
How do we connect and engage with our
customers?
Collaborative Culture
Conscious Collaboration
How do we work together?
©Copyright 2014 MHI Global. All Rights Reserved.
We clearly understand our customer’s issues before we propose a solution.
Organizational Attribute
Individual Behavior
Cultural Component
Customer Core
Provide Perspective
How do we connect and engage with our
customers?
45%
92%
All Respondents
World Class
4-year average 2014
93%
48%
©Copyright 2014 MHI Global. All Rights Reserved.
Experience
Sales Experience Knowledge
MHI Research Institute Research Note: Providing Perspectives
Provide a Perspective How YOU will achieve success
Experience
Knowledge
Context Concept
Decision Dynamic
Customer’s
Give a Pitch What we sell to YOU
1:All
Capabilities
P
Deliver a Presentation What we sell to people like YOU
1:Many
Capabilities Market/ Role
©Copyright 2014 MHI Global. All Rights Reserved.
Our organization collaborates across all departments to pursue large deals.
Organizational Attribute
Individual Behavior
Cultural Component
Collaborative Culture
Conscious Collaboration
How do we work together?
2014
94%
43% 46%
93%
All Respondents
World Class
4-year average
©Copyright 2014 MHI Global. All Rights Reserved.
Sales Community Shared Intelligence
Best Practices
Sales Professional Sales Managers, Executives, Subject Matter Experts, Specialists
Messages Knowledge Strategy
Account Plan Opportunity Plan
Sales Call Objective Common Language
Synchronized Selling
Internal Intelligence
Competitive Intel Feature/Function Product Roadmap
Pricing
Customer Communications
Customer Concept Value Proposition Market Position Corporate Vision
Customer
MHI Research Institute Research Note: Sales Collaboration: Defining Attribute of World Class
©Copyright 2014 MHI Global. All Rights Reserved.
Our sales performance metrics are aligned with our business objectives.
Calibrated Success
Performance Accountability
What do we measure, recognize
and reward?
43%
92%
All Respondents
World Class
4-year average 2014
93%
48%
Organizational Attribute
Individual Behavior
Cultural Component
©Copyright 2014 MHI Global. All Rights Reserved.
Sales Professional Sales Rep
Personal Professionalism Next Job Promotion Career
Performance Perception Excuses Results
Customers Compensation Commission Customer Success
Team Independence Figure It Out Proven Process
mmmReward
m Reward Measure, Recognize
and Reward
MHI Research Institute Research Note: Performance Accountability: World-Class Sales Behavior
Accountability
©Copyright 2014 MHI Global. All Rights Reserved.
Customer Management
Business Management
©Copyright 2014 MHI Global. All Rights Reserved.
Qualified Opportunities
New Account Acquisition
Average Account Billing
YOY Existing Customer Growth
Quota Achievement
Forecast Accuracy
©Copyright 2014 MHI Global. All Rights Reserved.
Social Selling: Getting to 1:1
Achieving a Knowledge Advantage
Creating the Customer Community
Managing Multiple Customer Models
Enabling Perspective
Forecast Accuracy - Funnel Confidence
©Copyright 2014 MHI Global. All Rights Reserved.
Executive Summary : MHIGlobal 2014 Sales Best Practices
http://goo.gl/utNmyD
www.Millerheiman.com - What’s New
©Copyright 2014 MHI Global. All Rights Reserved.
Activity Metric World Class ALL YOUR TEAM
Create Opportunities
Sales and Marketing are aligned in what our customers want and need. Number of Qualified
Opportunities
91% 38%
We have a formalized value proposition that is very compelling to our prospects. 92% 42%
Manage Opportunities
Our organization is highly effective in allocating the right resources to pursue large deals. New Account
Acquisition
93% 36%
When we give price concessions, we always get comparable value in return. 71% 21%
Manage Relationships
Our organization regularly collaborates across departments to manage strategic accounts. Average
Account Billing
94% 43%
We jointly set long-term objectives with our strategic accounts. 87% 34%
People & Organization
We know why our top performers are successful. YOY Existing Customer Growth
92% 41%
Our management team is highly effective in helping our sales team advance sales opportunities. 96% 43%
Operations & Enablement
Our sales compensation policies are aligned with our business objectives. Quota
Achievement
90% 46%
Our sales team consistently relies on our knowledge management system as the single source
for collateral and information. 71% 23%
Management Execution
We leverage the best practices of our top performers to improve everyone else. Forecast Accuracy
89% 29%
Our sales managers are always held accountable for ensuring the accuracy of our sales forecast. 93% 44%
©Copyright 2014 MHI Global. All Rights Reserved.
BEHAVIORS OF WORLD-CLASS SALES ORGANIZATIONS
Sales and marketing alignment Formalized value proposition
Allocating the right resources Comparable price concessions
Regularly collaborates Review results of our solution
“Why” top performers succeed Management team advances deals
Compensation aligned with objectives Single source for knowledge
Leverage best practices Forecast accuracy accountability
©Copyright 2014 MHI Global. All Rights Reserved.
2014 Sales Performance and Productivity Study
• 3rd annual study conducted by Miller Heiman Research Institute
• Open June 9 – August 1
• Survey Incentives:
• www.millerheiman.com/study
This study gathers insights and trends on the strategic investments being made to drive sales productivity. The findings of the study help participants understand trends in investments in productivity in Operations, Enablement, Training and Technology providing you with data to support strategic planning for 2015.
•2014 Strategic Issues Digest
•Invitation to exclusive results webinar for participants in October
Questions and Discussion
Slide 36
© 2014 The Sales Management Association. All rights reserved.
Enter your questions in the
“Questions” box on the right
hand side of the webinar
application window.
Did we run out of time before we got to your
question? Presenters can follow-up with you via
email. Feel free to submit more questions if
you’d like an offline response.
#PerformancePursuit
© Copyright 2014 The Sales Management Association
Thank You.