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18 Keys to Revving up Your Sales 2.0 Engine - by Bryan Ferguson
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18 Keys to Revving up Your Sales 2.0 Engine - by Bryan Ferguson

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This eBook will walk you through the 18 keys of building your Sales 2.0 machine. Each key, successfully integrated, will help you improve the essential Sales 2.0 metrics: volume, velocity, …

This eBook will walk you through the 18 keys of building your Sales 2.0 machine. Each key, successfully integrated, will help you improve the essential Sales 2.0 metrics: volume, velocity, predictability, scalability, LTV (Life Time Value), and CAC (Cost of Customer Acquisition).

Sales 2.0 defines a completely new, non-adversarial, value-driven relationship built on collaboration, integrity and value. Sales 2.0 fundamentally changes how and why buyers and sellers interact. As the traditional 1.0 sales model crumbles, becoming untenably expensive, slow, and unpredictable, it's now essential that EVERY sales organization adopt Sales 2.0 and relentlessly focus on these essential metrics to remain competitive.

The 18 keys outlined in this eBook focus on optimizing your sales and marketing success from demand generation at the top of your funnel through sales 2.0 closing techniques at the bottom of your funnel. Topics include scaling inside sales, leveraging sales automation tools, lowering sales complexity, social selling, growing leads at lower cost through inbound marketing, measuring ROI throughout your funnel, and sales management 2.0. Learn how to build your high-performance Sales 2.0 engine by successfully integrating the right technology, process, people and culture.

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  • 1. To Your  Keys EngineBryan Fergusonwww.linkedin.com/in/bryanrferguson
  • 2. Introduction This SlideShare is a summary of 18 Keys to Revving up Your Sales 2.0 Engine. To download the complete eBook, which includes detailed analysis, charts and recommendations, visit the following link: http://www.amazon.com/Keys-Revving- Sales-Engine-ebook/dp/B008NWT742/
  • 3. What is Sales 2.0?Sales 2.0 has transformed the way best-in-class sales organizationsbenchmark and elevate sales performance.
  • 4. What is Sales 2.0?Unifying a new mix of people, culture, processes, and technology,Sales 2.0 is turning the enigmatic art of sales into a precision science –dramatically increasing revenue at lower cost. Sales 2.0 People Integrating sales, marketing and operations to focus on processes, technology, problem solving, and building real value for customers. Sales 2.0 Processes implementing sales and marketing processes that are measurable, repeatable, and scalable, and which can be optimized over timeSales 2.0 TechnologyOptimizing sales and marketing activities from prospect nurturing, toprocess automation, to helping reps to work smarter and more effectively.Sales 2.0 CultureFostering an agile and collaborative environment built on best in class Sales 2.0 Engine Powered By:technology, measurable processes, and customer success. Successful integration of people, culture, processes and technology
  • 5. The 6 Essential Sales 2.0 MetricsBest in class sales organizations are deploying Sales 2.0 best practicesto dramatically improve performance. They are focusing on thefollowing metrics. Increasing LTV (Life Time Value) Decreasing CAC (Customer Overcome product commoditization Acquisition Cost) by selling expertise and long term Overcome sales complexity by customer success optimizing ROI on all marketing and sales processes Increasing Volume Increasing Velocity Overcome sales bottlenecks by Overcome lengthy sales cycles by measuring and optimizing funnel establishing value clarity early and conversions embracing just-in-time-selling Increasing Predictability Increasing Scalability Overcome Overcome irregular sales output by growth limitations by maintaining a making the components of the sales healthy CAC to LTV balance as engine measurable and repeatable volume increases
  • 6. What is Sales 2.0?As the traditional sales model crumbles, becoming untenablyexpensive, slow, and unpredictable, its now essential that EVERYsales organization adopt Sales 2.0 and relentlessly focus on these6 Essential Metrics to remain competitive.This guide will walk you through the 18 Keys to Revving up YourSales 2.0 Engine and how each key, successfully integrated, willdramatically improve the 6 Essential Sales 2.0 Metrics.
  • 7. 1) Shift Towards Inbound MarketingInbound Marketing leads are Traditionalless expensive, close faster, and Marketingare more scalable.Inbound marketing pulls your prospects inwith valuable and relevant content, earningtheir trust and attention. They find you.Inbound leads generally arrive Sales Ready(key 12) – they are educated, trusting, Inbound Marketingengaged and self-qualified. They typicallyclose faster, close at a higher percentage,and have a higher LTV (Life Time Value). Shift a greater part of your marketing budget and attention towards generating inbound leads. Develop compelling, relevant and highly valuable content for the key personas in your sales process.
  • 8. 2) Expand the Role of Inside SalesInside sales has become more cost Outside Sales is expensiveeffective for selling remotely, selling involume, selling over the web, andselling to today’s Web 2.0 buyer.With Today’s Web 2.0 buyer seeking anytime,anywhere engagement over the phone, web, andsocial channels, face to face meetings are increasinglyexpensive and out of sync with buyer expectations.Inside sales is rooted in processes which aremeasurable, repeatable, and scalable. Inside sales ismore cost effective selling remotely and in volumeeven for complex B2B sales. Lower CAC with Inside Sales Where possible move outside sales processes and activities to inside sales and inside sales to self-service to dramatically lower customer acquisition costs.
  • 9. 3) Lower Sales ComplexityAs the complexity of selling your product increases, the CAC (Costof Customer Acquisition) increases exponentiallySales complexity is a leading cause of high CAC, a lead weight around any business in acompetitive market. Complexity Type Description Product Complexity Hard to understand, evaluate, configure, test, and review your product Purchasing Complexity Multiple people must be part of evaluation, decision and purchasing; contracts are complex and often custom Value Complexity Difficult to connect product value to complex buyer problems; ROI hard to calculate; hard to create urgency with product or solution Price Complexity Difficult to present, comprehend, and negotiate pricing Process Complexity Sales process is slow, rigid, and labor intensive Risk Complexity Solution carries high cost of failure Deployment Complexity Solution affects many people and departments and require time Do whatever it takes to simplify the complexity of your product and sales process to accelerate sales and lower overhead.
  • 10. 4) Optimize Sales & Marketing ProcessesThe Sales 2.0 process mindset: Executeexecute, measure, optimize andrepeatYou’ve heard it before: “What can’t be measured Measurecan’t be improved.” One of the core tenants ofSales 2.0 is taking quantifiable and repeatableprocesses in BOTH marketing and sales and Optimizemaking them better over time.Process optimization is identifying andstandardizing the best practices that are Repeatrepeatable and scalable. Review marketing processes (lead acquisition, lead nurturing, campaigns, etc.) and sales processes (call and email effectiveness, lead qualification, opportunity conversion). Determine how to measure, optimize and scale your sales and marketing processes.
  • 11. 5) Measure ROI on EverythingRaw numbers tell you how to manage effort;ROI tells you how to maximize revenue Raw numbersTraditional sales organization generally measure rawnumbers, such as the number of activities and the number ofresults. Raw numbers allow you to make simplegeneralizations, but they don’t tell you the cost effectivenessof your activities and how to optimize conversions.ROI is a more effective measurement, which calculated onthe right metrics, shows you how optimize revenue on yourmarketing budget and sales activities. Connect your raw number to trends and ROI to focus effort and maximize revenue. When calculating ROI in your funnel, learn how the following impact your numbers: lead source, lead type, lead age, campaign, company size, salesperson, industry, region, etc.
  • 12. 6) Empower Your Team with Sales Automation Tools Sales CRM Download eBook for recommendations Sample Sales 2.0 ToolsTurn selling from a slow moving art to a Account Intelligencefast moving science Marketing AutomationSales process automation is the foundation of your Account Mappinghigh-touch, high-efficiency process-driven sales 2.0superstars. Social Networking Sales ForecastingSelect the right automation and intelligence tools to Sales Enablementempower your team to sell faster, smarter and morepredictably. These tools are also critical to matching Web ConferencingWeb 2.0 buyer expectations of persona-driven Contractsnurturing (key 13), anytime, anywhere engagement, Enterprise Networkingand expert business guidance (key 15). Instant Messaging Your new Sales 2.0 tools will only be effective in the hands of the right people in the right culture. Ensure you Sales 2.0 leaders are effective change agents as they empower your team with the right sales automation tools.
  • 13. 7) Turn Marketing 1.0 to Marketing 2.0With the ability to measure and monetizeconversions from the beginning of thefunnel, Marketing 2.0 has shifted from costcenter to revenue source Monetize Every ConversionMarketing 2.0 has reinvented the role of marketing. LikeSales 2.0, Marketing 2.0 focuses on technology, processesand metrics and tracking conversions from source to sale.Marketing 2.0 practitioners are no longer just a cost center– they are accountable for sales success and have a stake inthe revenue. Marketing 2.0 successes is no longer based on the quantity of raw leads, it is responsible for engaged, contactable, marketing qualified Sales-Ready leads. Building a Marketing 2.0 department is essential to the success of your sales organization.
  • 14. 8) Fine-Tune Marketing AutomationLeads are not featureless commodities Lead Development Stages Lead Capturegauged by quantity – they are the Lead Cleansing & Backfilllifeblood of your company that requireexpert management and cultivation Lead Nurturingthrough marketing automation. Lead Behavior TrackingEnsure that you have a clear understanding of whatdefines a Sales Ready lead, what data is required at Lead Scoringeach stage of your marketing process, and how to Lead Distributiontrack conversions. Ensure that you have a tightfeedback loop between sales and marketing (key 17) Lead Revenue Analysisto improve the quality of Sales Ready leads (key 12). Marketing automation, plus nurturing, scoring, and feedback equal more revenue at lower cost.
  • 15. 9) Target Buyer Personas Profile Sample Persona Map AreasSell to your prospects buying process, Pain/Anxietynot your sales cycle MotivationYour goal is to engage prospects as they prefer, not Position Success Factorshow you prefer, to optimize your message for eachtype of person (persona) in their buying process. Engagement Preference Desired ActionIf you don’t understand your buyers (who they are, Buying Progression Stageswhat motivates them, why they buy from you, wherethey acquire information online and offline) then it is Messaging/Call to Actionrecommended that you start by surveying your Objections & Responsescustomers and create a persona map and a product Content & Nurturespositioning document. Map out the personas in your marketing and sales processes, connecting their motivations to the right messaging, resources, and sales activities. Develop persona-driven collateral and messaging for the areas each persona acquires information.
  • 16. 10) Nail Your Ideal Customer Profile Sample Criteria for ICPIt is almost impossible to excel at Sales Annual Revenue (company)2.0 without a well-defined ICP (Ideal Industry (company)Customer Profile) that drives marketingand sales focus # of employees (company)Your Ideal Customer Profile (ICP) defines what type of Business Characteristicscompany or buyer is the best fit for your product or (company)service in terms of sales velocity, CAC, and LTV. Your ICPis the segments of the market that stand to benefit the Title (buyer)greatest from adopting your solution. The goal is totarget the type of customer where you win the most and Initiatives (buyer)build your demand generation, lead nurturing, lead Role in Purchase (buyer)scoring, and content around this profile. Your Sales 2.0 strategy requires an accurate ICP (Ideal Customer Profile) so you are focusing on the right target for maximizing profit by increasing deal velocity, lowering CAC and increasing LTV.
  • 17. 11) Build a Core Team of A-PlayersSales 2.0 teams have the right mix of A-players are the solutionhigh performance A-players in eachdepartment that are driven,innovative and collaborative.Consider the 80/20 principle when building yourteam. 20% of the people produce 80% of theresults. The 20% are your A-players. They are theones proactively seeking out and overcoming yourmost daunting business challenges, leadinginnovation, and forging the collaborative culturerequired to build your Sales 2.0 organization. Build a core group of A-players in sales, marketing and operations that works well together. Your core team will focus their passion and energies on your highest priorities, mastering Sales 2.0 processes and technology, and building real value and solutions for your customers.
  • 18. 12) Focus on Sales Ready LeadsMarketing programs that measure andoptimize the quality of sales readyleads result in higher ROIA sales-ready lead is best defined as a 1) prospect inyour target demographic profile 2) who is activelyevaluating your product as a 3) potential solution toaddress an existing business problem.Your Sales 2.0 team should be focused on movingengaged prospects through the final stages of yoursales cycle, not on foraging for prospects in Focus on Sales Ready Leadsmountains of demographically unqualified leads. Lead scoring, once fine-tuned, will identify prospects that match your Ideal Customer Profile, that are genuinely interested in your solution to fulfill a legitimate business need. Focusing your Sales 2.0 team on Sales Ready Leads will result in significantly higher ROI.
  • 19. 13) Use Multi-Touch Demand CreationA smart mix of mediums and messages Multi-modalover multiple sales cycles will yield the Email Events Content Marketing Social Mediamost opportunities. Phone Contact Direct MailSuccess with Sales 2.0 demand creation increasesdramatically by engaging leads with highly valuable, Multi-mediarelevant and captivating materials. The goal of lead Whitepapers Guidesnurturing is to maintain a relevant and consistent dialog eBooks Newsletters Articles Videoswith viable future customers – regardless of their timing Blogs Case Studiesto buy. Webinars InterviewsMarketing should deploy a smart mix of mediums andmessages over multiple sales cycles to generate a sales Multi-cycleready lead (key 12). Short Term Mid-Term Long-Term Ensure your lead nurturing efforts are built on attractive and highly valuable content tailored to your core personas and leverage multiple forms of media systematically over multiple sales cycles.
  • 20. 14) Sell SociallyWeb 2.0 prospects are buying from peopleand brands they know, like and haverelationships with online. They are buyingsocially. Social is a faster and more cost-effective way of making sales.The social revolution has given sales reps a new way ofconnecting with prospects. Integrated into your Sales2.0 machine social media will enable your team to sellmore, in less time, with lower cost. Social selling allows your Sales 2.0 team to leverage Web 2.0 buyer behavior and minimize the high cost of leads. Consider using social selling tools to listen to, educate, engage, and sell to your prospects socially.
  • 21. 15) Train Line-Of-Business Experts Salesperson 2.0 (LOB Expert) Web 2.0 information sharingToday’s 2.0 salesperson is able to LOB expert acting as P2Povercome buyer detachment by providing consultantreal value at each interaction – by Customer success centric sales processcorrectly understanding a buyer’s Solution based discoverycomplex business challenges and Expert diagnosisconnecting them to a solution and Presentations only to validateroadmap for success. value Connecting complex value toProduct-focused salespeople offer little worth to today’s complex problemsbuyers seeking collaborative guidance on mission critical Help the buyer drive the saledecisions. Salespeople who don’t provide LOB expertise internallyhave lost control and have commoditized their product. Integrity driven A well trained Sales 2.0 LOB expert is able to analyze and understand the causes, consequences, and cost of their customer’s problems. They shift the focus from the product to the customer’s objectives, improve value clarity and urgency, and build significant trust and credibility.
  • 22. 16) Perfect Your USP (Unique Selling Proposition)Craft a captivating, disruptive, laser- You are not everything to Rules for Crafting Your USP everyone!honed USP that won’t be ignored Know your competitionToo many organizations have a lazy, ambiguous USP thatfails to articulate why someone should do business with What do you better thanthem. A good USP provides value clarity for your brand, everyone else?excites potential buyers, and clearly positions youroffering as superior to your competitors. What is overwhelmingly compelling about yourDevelop a USP that cuts through the clutter and product or service?positions your brand as the unmistakable best and Make it short and conciseONLY choice. Turn some heads A well-crafted USP is one of the best vehicles for engaging and providing value clarity to new prospects. Integrate your USP into all marketing and sales messaging.
  • 23. 17) Unite Sales and MarketingA “Smarketing” union of sales and Sales and marketing join forces to Examples of “Smarketing” measure and improve conversionmarketing talent, process, technology, and rates throughout the funnelculture is the key your Sales 2.0 funnel Sales and marketing focus on lead quality and jointly develop qualityIn Sales 2.0, the overlap between marketing and sales is standards.huge: both are focused on conversions and velocity in the Sales and marketing collaborate onfunnel; both are obsessed with metrics and ROI; and both optimizing messaging and collateralare accountable for revenue generation. for each persona at each stage in the funnel.Smarketing talent must collaborate incessantly and work Sales and marketing become expertswell together, must be fluent in each other’s disciplines, in each other’s disciplines; they speak the same language.must integrate their core technologies, and mustgenuinely focus on the success of the customer. Sales and marketing technology are integrated and seamless. Sales and Marketing are now intertwined and have become “Smarketing.” They are both are accountable and rewarded for optimizing conversions throughout the funnel.
  • 24. 18) Embrace Sales Management 2.0Your Sales 2.0 Manager is a different Examples 2.0 Manager Instinct validated by metricsbreed – a hybrid mix of marketing and Provides baselines, clear objectives and the room to execute on thesales talent, system smarts, and goal- objectivesoriented leadership. Measures results over style; focused on improvement of resultsTo succeed with Sales 2.0 you need Sales 2.0 Manager. Entire team successful, predicable andYour Sales 2.0 Manager knows how to develop sales manageabletechniques that are measurable, repeatable, andscalable, and which can be optimized over time. Your Uses technology to empowerSales 2.0 Manager knows how to leverage sales Hires LOB expertstechnology for optimizing every sales activity. Your Applies best practicesSales 2.0 Manager hires and trains LOB expert that sellby connecting value to complex problems. Individual and team goals The Sales 2.0 Manager is an involved, information sharing, metric driven, process and goal-oriented leader in touch with the needs of his team.
  • 25. SummaryWhile building a solid Sales 2.0 foundation requires the right people, technology,discipline and a lot of hard work, it is critical in today’s selling climate to make thistransition. Aim to integrate the 18 keys outlined in this guide into your Sales 2.0transition plan to see your high-performance sales organization takeoff.
  • 26. Thank You! Bryan Ferguson Phone: 858-405-0249 Email: bryanferg@gmail.com Twitter: Bryan_Ferguson LinkedIn: www.linkedin.com/in/bryanrfergusonferguson To download complete EBook: http://www.amazon.com/Keys-Revving-Sales- Engine-ebook/dp/B008NWT742/

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