Technology & Trends - Need to Know Vs Time Wasters- Craig Fisher, CEO TalentNet
7 Must Avoid Sales & Marketing Time Wasters for 2014
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Transcript of 7 Must Avoid Sales & Marketing Time Wasters for 2014
7 Must Avoid Sales & Marketing Time Wasters for
2014
• Mick Hollison CMO, InsideSales.com HQ in Silicon Slopes, Utah Leader in sales acceleration technology 3 years of 100%+ annual revenue growth 350+ employees – Inc. Hire Power winner
• Giles HouseCMO, CallidusCloudHQ in Pleasanton, CALeader in sales and marketing effectiveness650+ employees worldwide
⑦ 1. Poor sales and marketing strategy
2. Weak lead generation sources
3. Slow response to lead inquiries
4. Too few attempts to contact leads
5. Lackluster training, coaching & mentoring
6. Ineffective lead management processes
7. Not knowing your wins and losses
Poor sales & marketing strategy
Sales & marketing
strategy
• Ask the tough questions What is your core message and USP? Who is your target buyer? How is your product or service different? What is your most successful lead source?
“Customer’s don’t buy what you do, they buy why you do
it”
Simon Sinek
“In red oceans, the industry boundaries are defined and accepted... In blue oceans, competition is irrelevant
because the rules of the game are waiting to be set.”
Renee Mauborgne
Understand sales
coverage 7%
Sales lost because territories are not properly valued
Weak lead generation sources
Accelerate inbound
leads 90%
of visitors on your website are anonymous
It’s all about the
leads
• Provide a sustainable source of quality inbound leads
• Buy high-quality lists Costs 5-10% of the labor costs Could be wasting 40% of reps time
• Use intelligent communications technology
Increase contact volume and rates Predict lead value and contact-ability
Slow response to lead inquiries
Too few attempts to contact leads
Pass high-
quality leads
20% Nurtured leads more likely to convert to
opportunities
Lackluster training, coaching & mentoring
Training vs.
learning & coaching
17% Quota attainment increase with
3 hours a month of coaching
Experiential
Coaching & Mentoring
Formal Education
McCall, Eichinger, Lombardo
Insidesales.com
Results & Lessons Learned
• Begin with onboarding experience
• Don’t depend on managers Hire role-based coaches
• Align coaching content to KPIs
• Cut sales rep ramp time by 50% from 4 months to 2 months
• Decreased product implementation time by 33%
Ineffective lead management processes
Marketing owns lead
qualification
80% Of leads generated by marketing die and
remain dead because sales doesn’t believe they’re “sales ready”
Blame game
versus automatio
n
• Typical model is finger-pointing between sales & marketing
• Time to initial contact is often 48 hours or more
• Automated lead management is essential
Lead capture Lead scoring Lead sorting Lead tracking Lead reporting Lead source analysis
Not knowing your wins & losses
Know where you
win and lose at
every stage of the funnel
Monitor, report,
analyze and adapt
• Know sources of success & failure
• Monitor & record sales interactions in “real-time”
• Build a BI team
• Implement basic KPIs inbound outbound new account acquisition revenue rep performance
• Build a sales operations center
Q&A