Executive Program in Sales Management (Monday) June 2014

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  • 1. Executive Program in Sales Management MARKETING
  • 2. Nick’s Bio - Highlights Career: ComputerLand Canada ◦ 8 Years in Sales and Sales Management ◦ Director of Marketing Softchoice Corporation ◦ VP of Sales ◦ VP of Marketing ◦ SVP of HR ◦ SVP of Business Development CultureByBrand Personal: Volunteering ◦ Led teams to Ghana, Rwanda, Bali, Sri Lanka, Kenya, Uganda and Guatemala ◦ Board Member for The Strongest Oak Fitness ◦ Master’s Swim Club member for 22 years ◦ Club President Married with one daughter
  • 3. Agenda Monday: 1. Accelerating sales force performance 2. How Social Media changes everything 3. Integrated Planning: Marketing, Sales and Customer 4. Being a Great Leader: Supporting Great Performances Friday: 1. Developing and Implementing Sales and Customer Plans 2. Conducting Effective Forecast Reviews 3. Fundamentals of Market Segmentation 4. Frameworks and tools to develop segment and customer-level value propositions
  • 4. Two ways to drive company financials: Decrease Costs Increase Revenue
  • 5. Leverage Revenue Expenses Productivity Understand Customer Needs Create Value Deliver Manage
  • 6. What Challenges are you Facing Today? Internally and Externally
  • 7. Accelerating Sales Performance IN THE AGE OF SOCIAL MEDIA
  • 8. Accelerating Sales Performance Option 1: Work Harder Be More Aggressive Work more Hours Skip Lunch Option 2: Work Smarter Right Place – Right Time Systematic Approach Create Leverage
  • 9. Have you ever heard this? “ I need more Leads!” “ The leads I am getting are terrible” “ I closed everything last month – drained the swamp – and now it will take me a month to rebuild my pipe” “ If it wasn’t for the low price offered by the competition I would be doing just fine” “ I know my results aren’t great but I have lots of good stuff coming down the pipe!”
  • 10. The Funnel Everyone Where is Sales Best Used? Everyone Suspects Prospects Customers!
  • 11. The Role of Sales INPUT New Pipeline Added (and Advanced) + THROUGHPUT Pre-Existing Pipeline Advanced - OUTPUT Pipeline Closed Won/Lost = WEIGHTED PIPELINE GROWTH (for given time period) IDENTIFY NEW OPPORTUNITIES QUALIFY OPPORTUNITIES PROPOSE SOLUTION OVERCOME OBJECTIONS CLOSE SUSPECTS CUSTOMERS
  • 12. Managing: The Level of the Swamp INPUT Number of Opps, $ Value of Opps + THROUGHPUT # of Opps Progressing, # of Opps Stalled - OUTPUT # of Opps Won, # Lost, $Value Win/Loss = WEIGHTED PIPELINE GROWTH The Level of the Swamp IDENTIFY NEW OPPORTUNITIES QUALIFY OPPORTUNITIES PROPOSE SOLUTION OVERCOME OBJECTIONS CLOSE SUSPECTS CUSTOMERS
  • 13. Measurement Measure so that: - You have objective measures for coaching - You can use facts to help a rep to understand the opportunity - You can help people to understand where the work needs to be - Comparisons as a source of great questions - You can help everyone to be more successful - You can identify problems well in advance - You know where training will help
  • 14. What is the Role of Marketing?
  • 15. The Old Way The Last time you went into a car dealership what did you find? What did the rep seem to rely on? - - - - - - -
  • 16. Price Customer Service Product Knowledge Supplying Information Selling a Product Communicating Value Relationships Selling Presenting Value Customer Collaboration Customer Industry Knowledge Providing Insight Delivering Business outcomes Linking Challenges to solutions Connection to Communities of Interest Serving Engaging The Old Way-------The Continuum--------The New Way
  • 17. Do You Feel Like This? Sales Marketing Sales Marketing
  • 18. How Social Media Changes Everything
  • 19. Finding Information Chevy Volt
  • 20. Traditional Marketing
  • 21. Content Marketing Attracts & Alerts
  • 22. In the future there will only be Content Marketing - Seth Godin
  • 23. What Content do you have to offer? What is your company’s Unique perspective? Why should prospective clients have an interest is what you think? What are the real issues in your industry? Whose thought leadership do you follow? What help can you offer beyond what is obviously good for your company?
  • 24. Intersection
  • 25. The Marketing to Sales Funnel Awareness Consideration Hit Rate Traditional Marketing Content Marketing PUSH Mktg Interrupts Sales Cold Calls Sales Discovery & Advocating Marketing Offers Sales Closes PULL Provide Value that Spreads Warm Lead Transfer from Marketing to Sales Marketing Offers Sales Closes Social Media
  • 26. X $6k Annual GP = $1.3M GP New Customer Acquisition Funnel (Example) Identified MQL (Mktg Qualified Lead) SAL (Sales Accepted Lead) SQL (Sales Qualified Lead) New Customer Sale Close 216 Unique Views 15% Conversion %Sales Stage Volume 30% 80% 60% 20% 50,000 7,500 2,250 1800 1080
  • 27. The Role of Marketing Department Understand Customer Needs Create Customer Value Deliver Customer Value Manage Customer Value Marketing Conduct formal marketing research Monitor Communities Understand Customer Pains Customer visits Market segmentation matrix Competitive analysis Measure, segment customer and product attractiveness Develop Marketing Plan Develop Segment Specific value propositions Pricing strategy and tactics Write Blogs Create Content (Buyer’s Guides, White-Papers) Train Sales People on strategy, tactics, products, etc. Buying Keywords for search Accompany sales on periodic sales calls Manage Events, Webinars and Seminars Seed Content Customer Satisfaction measurement and reporting Customer listening (twitter, etc.) Marketing Automation (Mailing Lists, campaign lists) Sales Reviews Segment, customer, product mix review Brand and Culture Alignment Website Processes Manage Segments for Profitability
  • 28. The Role of Sales Department Understand Customer Needs Create Customer Value Deliver Customer Value Manage Customer Value Sales Sales Calls Develop specialized knowledge of customer’s industry and business Join Industry forums or LinkedIn Groups Go where they are sharing info or looking for solutions online Develop Sales Plans Develop Key Account Plans Develop customer specific value propositions Collaborate with Marketing re: new ideas Customer Value Proposition delivery Establishing service level agreements Forward, Like or Post valuable content Invitations to webinars, seminars Participate in Customer Sat measurement Be the voice of the Customer to product management Conduct Sales Reviews with Marketing Get Paid for Value being delivered to customer Manage Customer relationships for long term profitability
  • 29. Marketing and Sales United Marketing Activities Content Promotion Events Sales Engagement Sales Training • ‘Like’ content • Email & Promote • Team Contests • Win Funds • Webinars • Local Events • Email • Social Media • Search Marketing (Google Adwords) • Digital Advertising • Sales Meetings • Regular Training • Certifications • Blogs • eBooks • Web • Print
  • 30. What did we learn?
  • 31. Marketing Planning THE KEY TO SALES EXECUTION
  • 32. 4 Groups Corporate Marketing Sales Management Sales
  • 33. Workshop What is your Role in company success? What is your time horizon? What are the things you are responsible for? What are your key measurables?
  • 34. Debrief Corporate Marketing Sales Management Sales
  • 35. •Revenue Growth •SGA as % or RevenueKPI •Cost of Customer Acquisition •Business MixKPI •Sales % of Plan •Growth Rate •Sales Comp as % of Revenue KPI •Customer Retention •Customer Satisfaction KPI Planning Strategic Plan Marketing Plan Sales Plan Customer Plan Vision Overall Business View 3-5 Year Horizon Financial Goals Company Structure Leverage Investment Market-Centric - 1 Year Horizon What Segments? What Offers? What Competition? Differentiation Marketing Spend Execution-Centric - 1 Year Horizon Territories Coverage Sales Comp Business Mix Biz plan for each market Customer-Based - Quarterly or Annually Customer Value Proposition Growth Goals Objectives
  • 36. Planning Dynamics – B2B 1. High Volume Transactions – Each has a Small $ value ◦ Target Prospects are unknown 2. Moderate volume of Transactions with Moderate $ Value ◦ Roles of people who are target prospects 3. Low Volume of Transactions – Each has a High $ value ◦ Target Prospects can be named Marketing Plan Sales Plan Customer Plan
  • 37. Marketing Plan Elements Section 1: Market Analysis Section 2: Situation Analysis Section 3: Marketing Strategy Section 4: Implementation Section 5: Financial Summary - Outcomes The Staff work for Sales: Designed to increase productivity for the whole sales organization
  • 38. Section 1: Market Analysis Macro Environment Economy Legal Technology Market Analysis Industry Competitors Market Trends Market Size and Share Customer Buying Decision Demographics Problems Internal Vision Co. Culture Resources
  • 39. Section 2: Situation Analysis Situation Opportunities Threats Strengths Weaknesses Key Issues Critical Success Factors
  • 40. Section 3: Marketing Strategy What are we Selling? • Products • Services • Mix and Lifecycle • Portfolio Analysis Who do we sell it to? • By Product • By Segment • By Geography • By Channel Value Proposition • Pricing Strategy • Margin Objectives • Angel Customers • Demon Customers How do we Sell it? • Sales Force • Social Media Plan • Website • Advertising
  • 41. Section 4: Implementation People • Hiring • Training • Incentives Process • Changes in Workflow • Approvals • In-Process Measures Systems • Systems Requirements • Reporting Contingencies • What-if Scenarios
  • 42. Section 5: Financial Summary Desired Outcomes • Measurements • Timing Assumptions • Explicitly stated Numbers • Revenue and Margin • Costs • By Segment/Geo /Product Line P&L • Profit(Loss) Impact • Balance Sheet
  • 43. Planning Benefits Creating Alignment Locking in on Strategy Clearly defining roles and responsibilities Agreement on Objectives, key measures and desired outcomes Making the goals (numbers) add up Without someone doing the Marketing Function what is the risk?
  • 44. Being a Great Leader SUPPORTING GREAT PERFORMANCES
  • 45. Attributes Think of someone you loved working for Why did you love working for them? 46
  • 46. www.valuescentre.com 47 The Seven Levels of Consciousness Service SERVICE TO HUMANITY AND THE PLANET Social responsibility, future generations, long-term perspective, ethics, compassion, humility External Cohesion STRATEGIC ALLIANCES AND PARTNERSHIPS Collaboration, environmental awareness, community involvement, employee fulfillment, coaching/mentoring Internal Cohesion BUILDING CORPORATE COMMUNITY Shared values, vision, commitment, integrity, trust, passion, creativity, openness, transparency Transformation CONTINUOUS RENEWAL AND LEARNING Accountability, adaptability, empowerment, delegation, teamwork, innovation, goals orientation, personal growth Self-Esteem HIGH PERFORMANCE Systems, processes, quality, best practices, pride in performance, Relationship EMPLOYEE RECOGNITION Loyalty, open communication, customer satisfaction, friendship, Survival FINANCIAL STABILITY Shareholder value, profit, organisational growth, employee health and safety Positive Focus / Excessive Focus Control, Corruption, Greed Bureaucracy, Complacency Manipulation, Blame
  • 47. What Are Our Basic Needs and Growth Needs EvolutionofPersonalConsciousness Satisfying your physiological needs for security; staying alive and keeping your body healthy. Satisfying your emotional need for belonging, protection and connection. Satisfying your emotional need to be recognized for your skills, talents or qualities. Satisfying your need for autonomy, freedom, independence and adventure. Satisfying your need for authenticity and finding meaning and purpose in your life. Satisfying your need to actualize your purpose by influencing or impacting the world around you. Satisfying your need to leave a legacy—to have led a life of significance that will be remembered. Growth Needs Basic Needs At any given moment in time, our values are a reflection of our unmet basic needs, and the growth needs associated with the stage of psychological development we have reached.
  • 48. What a Sales Rep Sounds Like: EvolutionofPersonalConsciousness Survival: I need to close this deal because I have bills to pay or I am afraid of losing my job. Relationship: My customer will buy from me because of the strong relationship we have. Self-Esteem: I want to be recognized as one of the top performers in our company! Transformation: I constantly stretch myself and bring new ideas to my clients. Cohesion: I want to understand my customers real drivers and then match my solution up with that. Make a Difference: I collaborate with my clients so that my solutions make a significant impact. Service: I don’t sell anything. I help my customers to build their business by serving with all we have. Growth Needs Basic Needs At any given moment in time, our values are a reflection of our unmet basic needs, and the growth needs associated with the stage of psychological development we have reached.
  • 49. Coaching Help our people to meet their basic needs ◦ And help them to Recognize that MORE will not create happiness Coach them from where they are Stretch them knowing that these evolutionary steps are universal
  • 50. Leading Indicators
  • 51. Lagging Indicators
  • 52. Examples of Lagging Indicators % of plan Customer Satisfaction On-time Delivery Market Share Win-Loss Ratios Customer Retention Customer Profitability What do these things have in common?
  • 53. Leading Indicators
  • 54. Examples of Leading Indicators Number of Sales People Trained/Certified Number of prospects identified Number of customer appointments each month Number of Demonstrations completed Number of prospects touched in Seminars Size of the Sales Pipeline
  • 55. Sales Cycle Does The Rep know how to sell the product? Do we have any identified suspects? Have we had technical people on site? Have we done a proof of concept? Have we presented an ROI Analysis?
  • 56. How about you? “ When we get technical people onsite we win” “ When we do a demo we win” “ When we present ROI cases we win”
  • 57. Group Work Break into groups of four Share your leading indicators Discuss how you could measure at least one new leading indicator effectively (Make sure it is Strategically Aligned!!) 20 minutes
  • 58. What did we learn? How do Leading Indicators help you to execute strategy?