Predictable Results for High Growth Sales Organizations
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PREDICTABLE RESULTS FOR HIGH GROWTH SALES GROUPS
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Transcript of Predictable Results for High Growth Sales Organizations
PREDICTABLE RESULTS FOR HIGH GROWTH SALES
GROUPS
Top drivers for salesorganizations
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
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
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
#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
Avg. Pipeline ConversionDials to conversation 20:1
MQL 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
What 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…
Run 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
Keep 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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