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ProductCamp Toronto 2012 Re-Engineering Your Sales Process
 

ProductCamp Toronto 2012 Re-Engineering Your Sales Process

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This session at ProductCamp Toronto 2012 was a "kitchen table conversation" on understanding the key elements of your sales process and how you can optimize for success.

This session at ProductCamp Toronto 2012 was a "kitchen table conversation" on understanding the key elements of your sales process and how you can optimize for success.

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    ProductCamp Toronto 2012 Re-Engineering Your Sales Process ProductCamp Toronto 2012 Re-Engineering Your Sales Process Presentation Transcript

    • Re-Engineering Your Sales Process Lee Garrison JULY 28 TH TED ROGERS SCHOOL OF MANAGEMENT, RYERSON UNIVERSITY www.productcamptoronto.wordpress.com
    • A “kitchen table” conversation What is a “kitchen table” conversation? Is there a sales process? How do you know you have a problem? What are the symptoms of an undefined sales process? How does it effect product management?
    • How do you know you have a problem? Lost sales are increasing Sales is selling stuff we don’t have Sales cycle is too long or increasing Sales is selling to a different problem Sales activities are not transparent There is no CRM Pricing and discounting are inconsistent Sales is ignoring a new product
    • Lead GenerationPURCHASE FUNNEL ONLINE SUCCESS METRICS ➭ Target Reach % ➭ Increase in searches for brand ➭ Increase in all site traffic Awareness ➭ Control survey awareness increase ➭ Increase in any blog mentions (buzz) ➭ Viral pass-along ➭ Leads Generated ➭ Interaction Rates Consideration ➭ Control survey consideration increase ➭ Increase in product review page traffic ➭ Increase in opt-in/subscription rates ➭ Control survey favourability increase Favourability ➭ Increase in positive blog mention (buzz) ➭ Viral pass-along Purchase ➭ Control survey purchase intent increase Intent ➭ Strong website event ➭ Contact requested ➭ Purchase/ConversionPurchase ➭ Quality/Amount ➭ Repeat Purchase/Conversion ➭ Lifetime Quality/Amount Loyalty ➭ Share of Wallet ➭ Recommendation
    • Sales Process
    • Align Sales Stages Sales Stage Forecast Process Sales Tools Factor1. Lead 0 a. Marketing gathers qualifying information (status = open) a. Company name, basic business info b. Qualification Criteria #1 c. Qualification Criteria #2, etc. b. Qualified Leads assigned to sales rep (status = qualified) c. Sales makes initial contact (status = contacted, deferred, inactive)2. Qualified 5% a. Initial contact made Qualification checklist Prospect b. Contact has interest in initial presentation c. Convert from Lead to Account d. Create Opportunity with $ and close date3. Qualified 10% a) Initial presentation Standard sales deck Opportunity b) Contact has interest MNDA/CDA c) Pain points validated d) Agree to follow up meeting e) Agree to sign MNDA f) Update Opportunity4. Impact 20% a) Present draft business case Business Case/Impact Assessment b) Validate value propositions Assessment Template c) Key stakeholders involved with buying/decision process identified (business sponsor, tech Whitepapers team, finance team, marketing team) d) Agree to assist us in setting up meetings with key stakeholders5. Presentation 40% a) Presentation of Business Case to the key Presentation deck for each to Team stakeholders completed. stakeholder category b) Interest in continuing by key stakeholders Sales objections handling list including business sponsor Competitive differentiators Case studies Customer references
    • e) Agree to sign MNDA f) Update Opportunity4. Impact 20% a) Present draft business case Business Case/Impact Align Sales Stages Assessment b) Validate value propositions Assessment Template c) Key stakeholders involved with buying/decision process identified (business sponsor, tech Whitepapers team, finance team, marketing team) d) Agree to assist us in setting up meetings with key stakeholders Sales Stage Forecast Process Sales Tools Factor5. Presentation 40% a) Presentation of Business Case to the key Presentation deck for each to Team stakeholders completed. stakeholder category b) Interest in continuing by key stakeholders Sales objections handling list including business sponsor Competitive differentiators Case studies Customer references6. Technical 50% a) Review and technical validation, understanding Presentation deck for tech Validation of implementation requirements and timelines buyer7. Verbal 60% a) Business sponsor on board Implementation methodology agreement b) Verbal agreement to move forward. Best practices resources c) Understanding of the contracting/signoff Implementation presentation process Marketing presentation d) Implementation planning and scheduling in progress (technical + marketing) e) Statement of Work (SOW) prepared8. Contract 70% a) Standard contract forwarded Standard agreement submitted b) Application form submitted SOW template c) Implementation schedule and timelines agreed to in SOW9. Contract in 80% redlines10. Contract 90% a) Agreement signed. Marketing launch plan signed b) PO in process PR readiness11. Integration 100% a) Agreement on KPIs completed b) Marketing launch