Revenue Efficiency 101

Sales Enablement Society ConferenceSeptember 2018

Jerry Pharr, Director of Field Readiness, OutreachEmily Blau, Global Sales Enablement Program Manager, Proofpoint

2

Agenda

1. Revenue Efficiency Mindset

2. Outreach Enablement Programs

a. Overview

b. Onboarding

c. Compete

d. Sales Process & Methodology

e. Hunting & Pipeline Management

3. Proofpoint Enablement Programs

a. Identify + Evaluate + Execute + Measure

b. Tool Highlight

3

Revenue Efficiency Mindset

$1 Spent

5

$??? Revenue

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

$1 Spent

6

$??? Revenue

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

7

But how?

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

8

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

9

consistent and repeatable processes / playbooks(making what they DO predictable)

consistent and repeatable story(making what they SAY predictable)

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

What That Looks Like @ Outreach

11

Onboarding

BootcampCurriculum

Mentor program

Enablement @ Outreach

Skill Training & Coaching

Discovery FrameworkDemo Framework

Competitive Readiness

Battle CardsPitch Reviews

Messaging & Content

Templates & sequencesMarketing collateral

Sales Central (Intranet)

Sales Motion

Sales ProcessCommand of the Message

Prospecting for AEsPipeline Management

Product Readiness

Bi-monthly readiness mtgMonthly elearning

Internal Communication

Top of Mind

Tool Training & Support

ProductivityOutreach

IntelDiscoverOrg, ZoomInfo,

Sales NavEnablement

Chorus, Showpad, MindTickle, Confluence

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

12

Onboarding

BootcampCurriculum

Mentor program

Enablement @ Outreach

Skill Training & Coaching

Discovery FrameworkDemo Framework

Competitive Readiness

Battle CardsPitch Reviews

Messaging & Content

Templates & sequencesMarketing collateral

Sales Central (Intranet)

Sales Motion

Sales ProcessCommand of the Message

Prospecting for AEsPipeline Management

Product Readiness

Bi-monthly readiness mtgMonthly elearning

Internal Communication

Top of Mind

Tool Training & Support

ProductivityOutreach

IntelDiscoverOrg, ZoomInfo,

Sales NavEnablement

Chorus, Showpad, MindTickle, Confluence

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

Onboarding

Initial Situation● Large volume of new reps (2-6/month)● Too long to hit the “elbow”

14

Onboarding for AEs @ Outreach(overhauled January 2018)

Monthly Weeklong Bootcamp for All Sales/Success Teams

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

Topics Sample Daily Agenda

Key Concepts● Focus outward first--on the market into which you’re selling● Only what’s essential in bootcamp● Chunking & Scaffolding● Teach => Practice => Coach

15

Onboarding for AEs @ Outreach(overhauled January 2018)

3-Month Onboarding ProgramCurriculum in LMS (MindTickle) Mentor & RVP Office Hours

Ramp Metrics

Curriculum Requirements● Training: Video tutorials/quizzes● Observation: Watching & scoring other reps’ calls (with rubric)● Practice: Submit pitches graded by mgr/enablement

(corporate messaging, objection-handling, compete) ● Coaching: Real meetings recorded and graded during mgr 1:1s (plus revenue, of course)

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

16

Onboarding for AEs @ Outreach(overhauled January 2018)

Reflections on Revenue EfficiencyResults (after 9 months)

● Curriculum completion: 100%● Avg pitch score: ↑ 37%

● Avg # calls: ↑ 37%● Engagement per account: ↑ 29%

● Self-sourced pipeline: ↑ 118%● Sales cycle: ↑ 13%

● Revenue per SAL: ↑ 275%● Win rate: ↑ 33%● On monthly revenue ramp target: ↑ 29%

Lessons LearnedBootcamp

● Product training more important when reps use what you sell

● Require presenters to give you quiz questions

● Create role-specific bootcamp experiences ASAP

● Agenda changes all the time -- not plug and play

● Only include topics that ○ participants need immediately OR

○ convince participants they made the right choice

Curriculum● What gets measured gets done (e.g., prospecting)

● 1:1 mentors are too demanding for mentors

● Top 5% performers not good models; top 5-15% much better

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

Lear

ning

Activ

ityPi

pelin

eRe

venu

e

Competitive Readiness

Initial Situation● 3 competitors for the first 18 months, now 23● Dropping morale and competitive win rates

18

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

Competitive Readiness @ Outreach(overhauled May 2018)

Project CompeteIdentifying Who to Spend Time On

(per SFDC and per Slack)Crowdsourcing Internal Gurus for Battle Cards

(focus on stories and themes, not features)

19

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

Competitive Readiness @ Outreach(overhauled May 2018)

Project CompetePracticing The Talk Tracks

(video pitches scored in MindTickle)Recognizing Top Competitive Win Rates

(displacement vs head to head)

20

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

Competitive Readiness @ Outreach(overhauled April 2018)

Reflections on Revenue EfficiencyResults (after 4 months)

Competitive Win Rate (all new logo deals)Lessons Learned

● Don’t trust anecdotes about which competitors are emerging

● Don’t give in to requests for side-by-side feature comparisons

● Reps with highest win rates rarely talk about features

● Nip negative language in the bud

● It’s mostly a head game

● Create internal and external assets

○ Internal Battle card

○ Outreach Template

○ 4 slides each (story + 3 supporting themes)

Competitive Win Rate (only those that get past Discovery)

Sales Motion

Initial Situation● Low win rates● Low revenue per SAL● “Wild west”

22

Sales Motion @ Outreach(overhauled February 2018)

Job Aids in Salesforce

New Sales Stages and Sales Process

Prescriptive Process

● Prescriptive for reps (here are the steps and the materials)

● Prescriptive for buyers (here are the next steps we’d recommend)

● Scoping & Propose stages

● Equipping champions to sell internally

● Demonstrating sales excellence

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

23

Sales Motion @ Outreach(overhauled February 2018)

New Sales Methodology

Command of the Message(how we articulate value and differentiation)

MEDDPICC(how we assess the health of opportunities)

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

24

Laminated “Cheat Sheets” for 4 Customer Use Cases

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

25

Laminated “Cheat Sheets” for 4 Customer Use Cases

Measuring Adoption:NOT: whether reps use the language/messaging

INSTEAD: whether buyers use the language/messaging

“Mr./Ms. Customer, in your own words …”

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

26

Sales Motion @ Outreach(overhauled February 2018)

Lessons Learned

● Demonstrating sales excellence is crucial when selling to sales

● Job aids & content for sales process: make them available in the workflow

● New methodology: rarely get it right the first time (adjust to make it work for you)

● Process & methodology changes take a while to show results (and top 5% will be slowest to adopt)

Reflections on Revenue Efficiency

Results● Win rate: ↑ 26%● Rep participation: ↑ 16%● Revenue per SAL: See below

330% lift in Revenue per SAL

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

Prospecting & Pipeline Management

Initial Situation● Prospecting: Gradual transition to fewer SDR meetings per

AE; need to supplement● Pipeline Mgmt: New product capabilities

28

AE Prospecting & Pipeline Management @ Outreach(overhauled June 2018)

Use Outreach duh :-)

● Named accounts, inc. 10-20 target accounts

● SDR collaboration

● Special sequences (e.g., referral, closed/lost opps)

● Content Collections for prescribed sequences

● Multi-channel (text, LinkedIn, call, email, snail mail)

● 55-75% manual steps

Prospecting

Create a Playbook

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

29

AE Prospecting & Pipeline Management @ Outreach(overhauled June 2018)

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

SEESort/Filter opps by:Rep or TeamValueStageClose DateForecast category

ASSESSView opp health by:Historical activityIn a sequenceMtg scheduled

ENGAGEWork opps by:SequencingCalls/Emails/TasksMeetings

Pipeline Management

30

AE Prospecting & Pipeline Management @ Outreach(overhauled June 2018)

Lessons Learned

Prospecting● Different hiring profile

● Manager alignment critical

● Research accounts thoroughly because of prior engagement

Pipeline Management● Completely changing how reps work

● Responses from “holy crap” to “meh”

● Fantastic for manager 1:1s

Reflections on Revenue Efficiency

Results (in 3 months)● Engagement per account: ↑ 36%● Self-sourced pipeline: ↑ 192%● Self-sourced revenue: ↑ 107%● Sales cycle: ↓19% (different than onboarding results)

● Revenue per SAL: ↑ 25%● Win rate: ↑ 12%

Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint

Proofpoint

32CONFIDENTIAL

SALES ENABLEMENT REFINEMENT JOURNEYEmily Blau Global Sales Enablement Program Manager

33CONFIDENTIAL

DO YOU HAVE THE RIGHT TOOLS TO BE SUCCESSFUL?

VS.

34CONFIDENTIAL

Much like in sales we may not be using the most effective tools

Or we may not be maximizing the correct sales tools to their full potential

35CONFIDENTIAL

My sales enablement objective is not just to provide sales the resources they need to sell more, but to maximize their resources through ongoing training and refinement

36CONFIDENTIAL

THE SALES RESOURCE DILEMMA

37CONFIDENTIAL

THE SALES RESOURCE DILEMMA

You can’t expect reps to be successful if

they are not given the needed tools to do

their jobs…

You can’t expect finance to continue to pay for tools if

the company cannot measure the positive impact

on revenue…

38CONFIDENTIAL

THE SALES RESOURCE DILEMMA

You can’t expect reps to be successful if

they are not given the needed tools to do

their jobs…

You can’t expect finance to continue to pay for tools if

the company cannot measure the positive impact

on revenue…

If you want consistent,

predictable output You need consistent input

Refinement of your Tools & Processes

39CONFIDENTIAL

HOW TO REFINE THE SALES PROCESS

40CONFIDENTIAL

STEPS TO REFINING THE SALES PROCESS

• Identify a process that is clunky & needs refinement Identify

• Evaluate tools to make AE’s more effective Evaluate

• Execute the roll out of new sales tools & work cross functionally for continued trainingExecute

• Measure adoption & ROI to be able to purchase other tools in the FutureMeasure

41CONFIDENTIAL

STEPS TO REFINING THE SALES PROCESS

• Identify a process that is clunky & needs refinement Identify

• Evaluate tools to make AE’s more effective Evaluate

• Execute the roll out of new sales tools & work cross functionally for continued trainingExecute

• Measure adoption & ROI to be able to purchase other tools in the FutureMeasure

42CONFIDENTIAL

Executing

▪ Roll Out

▪ Managers → a few select teams → Entire Org

▪ Power Users ▪ Early access to new features

▪ Advanced trainings

▪ Opportunity to meet with leadership

▪ Office Hours

▪ Cross functional collaboration with Sales & Marketing Operations ▪ Data quality

▪ Messaging

▪ Campaign launch training

43CONFIDENTIAL

Measuring

▪ Adoption

▪ Daily, Weekly, Monthly

▪ Create custom fields in SFDC to track revenue attribution to a particular tool or initiative

▪ Set a baseline

▪ Are top adopters → top performers

▪ Monitor closely

▪ Measure impact on pipeline ▪ This month, quarter, year

44CONFIDENTIAL

OUR LATEST TOOL TO IMPROVE REVENUE EFFICACY: OUTREACH

45CONFIDENTIAL

RESULTS:

▪ Increased activity due to greater visibility

▪ Improved data quality with automation

▪ Correlated activity and content to revenue- What content generated opportunities not just

replies

- How much activities on avg lead to opportunity

Look for tools that will provide you more actionable data

46CONFIDENTIAL

BUILD YOUR COMPANY’S TOOL BELT

CRM

Content Library

Sales Engagement Process/Tool

Thank You