Strategies for Sales Sustainment
 

Strategies for Sales Sustainment

on

  • 132 views

Regardless of how good your sales force training is, your sales reps and managers will lose between 70% and 100% of what they learn or acquire within three months. The investment necessary to develop ...

Regardless of how good your sales force training is, your sales reps and managers will lose between 70% and 100% of what they learn or acquire within three months. The investment necessary to develop your teams and win business in this competitive market is significant, and every sales leader must ensure the intended benefit of this investment is realized. Effective sustainment strategies have become essential to achieving the desired outcomes.
In this session, Richardson’s President and CEO, David DiStefano will discuss how to sustain the impact of your salesforce development efforts through a combination of performance support, coaching, technology and mobile reinforcement tools. These reinforcement strategies will help extend learning from weeks to years, leverage mobile and social gaming to drive adoption and motivation, and help maximize the return on your training investment.

Statistics

Views

Total Views
132
Views on SlideShare
132
Embed Views
0

Actions

Likes
0
Downloads
8
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment
  • Good morning/afternoon. It’s a pleasure to be here today. My name is _______, and I am a Relationship Manager with Richardson. I’d like to begin by thanking all of you for the opportunity to meet today. I’d also like to specifically thank ____ for helping us prepare for this presentation. You have provided us a detailed understanding of Coname’s needs, and we are excited to present our recommended solution.I’d like to introduce my team and provide you a very brief overview of our roles. As I mentioned, I am a Relationship Manager for Richardson. I am accountable for ensuring that we deliver on our promise and that relationship expectations are met. With me today are …I’d like to ask each of you to share with us your name and role please.
  • Let’s take a look at our proposed agenda for our time together.We have already covered introductions.Next, we will move to our understanding of your objectives.We will provide a concise overview of Richardson and then spend the majority of our time focusing on our recommended solution for you.Finally, we will finish up by demonstrating to you how our solution would feel to your individual salespeople and managers.And while we will certainly allocate time at the end for Q&A, we would like for this meeting to be interactive, so please feel free to ask questions or provide feedback at any time.How well does this agenda represent what you would like us to cover today?What are the areas where you would like us to focus in particular?
  • We know that this initiative is critical to Coname. We’d like to summarize our understanding of both your business and development/training objectives to ensure that we have captured them accurately. We want to ensure our solution meets your exact needs. Review objectivesHow well do these objectives capture what you are trying to achieve?Often, over the course of working through partner responses and discussing them among the team, some objectives bubble up to the top of the priority list. Can you share with me, what are the top priorities for you today?
  • As we will describe in a moment, we have a great deal of expertise in sales training and sales performance improvement. We are excited by your initiative and wanted to share some data that supports the direction you are taking.Walk through grabberThese statistics support our perspective that not only is the sale truly made in the moment in front of the customer and in the execution of compelling customer dialogues but also that there is a great need for improvement in this area among salespeople!
  • We are a global sales training and performance improvement company, and we’ve been in business for over 35 years.Headquartered in Philadelphia, Richardson’s global capability is supported by our fully dedicated staff located in offices in the UK, Latin America, and Asia Pacific.Our promise to our clients is to bring passion and authenticity to our relationships and provide guidance and customized solutions based on strong experience.Sales is our core competency – its what we do every day.
  • We bring to you depth of experience across many industries in working with the world’s largest sales organizations and in delivering large-scale training rollouts.In 2013:We trained over 75,000 professionalsWe created over 600 new customized programsWe interviewed over 3000 senior executivesWe surveyed over 5000 sales repsAnd, we worked with clients in 23 countriesMost specifically relevant to you, we have worked with ____ clients in the ____ industry.
  • Throughout all of our work with clients, we never lose sight of the fact that impact and results are paramount.I’d like to share with you four success stories of which we are very proud. What is common across these stories and of all of the client engagements where we see strong impact are the following:The clients had senior leadership buy-in and engagement – not just in the beginning but throughout the process.They went “all in” – meaning they made a significant financial and resource investment to do it right.Finally, they were willing to stay the course in order to achieve the business outcomes.We began working with First Data, a global payment solution company, in creating a strategic account development program for their top global relationships. This was the first time that they had undertaken a strategic account focus. We provided them the process, tools, training, and coaching to drive significant account growth. In partnership, our solution helped them attain 129% quota even after a 20% increase in goal in 2012, as well as increased client satisfaction.We were engaged by PwC to first build a pursuit process and effective client interaction methodology. Soon after, PwC realized that they required more of an account focus and engaged us to build an account planning workshop and structure and retained us as dedicated coaches for each of their top 86 global relationships. In effect, coaches were retained over a period of 4 months to drive the execution of the plan. They generated $23.7MM of new business, or 17 times their investment of $1.4MM, with Richardson in the first year. In addition, they increased pipeline 195% for coached accounts vs. non-coached accounts.SunGard, a leading provider of technology and security solutions, engaged Richardson to develop their global sales force to use insights to differentiate and create value in their selling efforts. The training was anchored to their sales process and integrated the use of data and insights in customer dialogues. SunGard engaged the services of eight providers and used Richardson as an integrator to ensure that the training supported the full strategic vision and reflected Selling the SunGard Way. In 2013, SunGard drove $100MM of incremental revenue on a $4MM total investment.Several years ago, Bank of Montreal realized that they were losing market share and had lost sight of the customer. In connection with a bank-wide rebranding (“making money make sense”), Richardson was engaged by BMO to develop training that would improve the customer conversation. The training became the primary vehicle for behavior change, and 17,000 personnel have since gone through Customer Conversations training. They moved from #5 to #1 in Net Promoter Score among Canadian Banks and increased wallet share by 12%.
  • We are very proud of the awards we have won in our space and those that our clients have won through their partnership with us. We’d like to highlight just a few to demonstrate to you that our work is of the highest quality.We have been awarded Brandon Hall’s “Smart Choice” certification. Brandon Hall is an analyst firm, similar to the Gartner Group or Forrester Research, that covers the learning and development space. Brandon Hall went through a very exhaustive process to evaluate our training approach and content, which included speaking to a number of our clients. When all was said and done, they told us that we received their highest evaluation ever. Not just for a sales training company, but any training company.We’re also very proud to be named one of Trainingindustry.com’s top sales training companies seven years in a row, and now as one of their top leadership training companies.The Stevie awards are conferred for achievement in business to organizations and individuals. [Read awards.]We have achieved this success through a holistic sales performance approach that I’d like to highlight for you now.
  • HAND OUT THE DDD PLACEMATWe believe that training is not an event and that true change and transformation takes a thoughtful approach, discipline, buy-in, and a regular cadence of communication, training, and sustainment to achieve results.We begin by defining key sales success drivers and focus on improving those few that matter most. We define your current state, ideal future state, and what it’s going to take to move theorganization. We then help you define your change story and key metrics to measure. From define, we move to develop. We believe the most important factors that drive sales success are: the ability to execute the right sales activities, the ability to engage in compelling customer dialogues, and the ability of your sales managers to coach and manage performance. And we train your people to do just that.Finally, through planned sustainment and adoption efforts, we focus on driving the change and accountability across the organization in order to drive productivity gains and results. We bring all of this together by customizing your solution to the deepest levels in the industry. This includes configuring your solution from our proven sales training content and tools and also deeply customizing the content and tools for maximum relevance to your business. I’ll explain a bit more about this in a few slides.
  • We customize to the deepest levels in the industry because it produces better results for our clients.This graph comes from a study done by Trainingindustry.com in 2012.They surveyed a number of L&D leaders who supported sales training and transformation initiatives.72% of those who either customized or fully customized their programs reported that their initiative was “effective.”This compares with only a 28% effectiveness rate for those who did not deeply customize.The point here is that you’re about to make a major investment in improving sales performance. You will get the best outcome with customization, and I will explain how Richardson’s customization is different than anyone else in the marketplace in just a moment.
  • We’re going to take you from our general approach and capabilities down to the specifics of your solution.Based on your thoughtful RFP, the discussions we have had with you to date, and our experience in working with other firms who have done what you are attempting to do, we have crafted a very specific solution to meet your needs.Note: You may need to update this graphic to reflect the actual discovery activities that you undertook. In some cases, this will be very comprehensive, and in other cases, it won’t be.
  • Note: Have copies of this map available, and hand it out now.We will walk you through this solution map over the next 30 minutes or so – we’ve given you this hand out so that you can follow along. At a high-level, there are components of the solution.I will walk you through this solution at a high level now to orient you, and then, we will spend the rest of our time diving into each component.
  • I’d like to walk you through our customization process.Many training companies say they customize, but this could mean simply changing out a logo or perhaps writing a custom case study. Here’s what we do with you … We strongly believe that starting a project off with clarity on the plan, responsibilities, and roles among our organizations is critical to overall success. First, we’ll kick off the project and bring our two teams together. During the kick-off, we’ll form a communication plan and establish a cadence for how we will work together. We’ll work and validate a project plan. Our next step is to review any existing content, sales process, or tools as part of our due diligence so that we can integrate any materials or processes that you want to introduce or reinforce throughout the initiative.Then, we’ll go through a series of stakeholder interviews. Most often, these are senior executives, frontline sale managers, and top performing sales reps. Through these interviews, we get a clear understanding of your strategy and culture, go deeper into your specific needs, and get a better understanding of what’s working and what’s not. All of this helps guide the creation and delivery of your solution.The outcome of the due diligence and interviews is a solution blueprint (customizing summary and sales process) that we will provide to you. The blueprint serves two purposes. The first is to share with you what we have learned and demonstrate to you that we understand your business, we have captured all of your key needs, your target markets, your differentiators, etc. We want to make sure that we heard you correctly and that you feel confident that we understand your business and sales situations. Secondly, based on our understanding and all of the information we have gathered about your needs and opportunities, we will make recommendations for the learning and sustainment content and strategy. This is where we are going to lay out exactly what content your managers and salespeople will learn before, during, and after the training events. We will also work with you on a sustainment plan and cadence, as well as recommended modalities for each piece of the solution. (Optional to pass around a client customizing summary while describing the blueprint. You MUST collect it back and black out the client name on the summary to protect the client’s confidential information.)We won’t take another step until we gather your feedback and validate our recommendations to ensure we are in lockstep with your thinking.Finally, we move into the full development phase and the creation of the deliverables.
  • I’d like to walk you through our customization process.Many training companies say they customize, but this could mean simply changing out a logo or perhaps writing a custom case study. Here’s what we do with you … We strongly believe that starting a project off with clarity on the plan, responsibilities, and roles among our organizations is critical to overall success. First, we’ll kick off the project and bring our two teams together. During the kick-off, we’ll form a communication plan and establish a cadence for how we will work together. We’ll work and validate a project plan. Our next step is to review any existing content, sales process, or tools as part of our due diligence so that we can integrate any materials or processes that you want to introduce or reinforce throughout the initiative.Then, we’ll go through a series of stakeholder interviews. Most often, these are senior executives, frontline sale managers, and top performing sales reps. Through these interviews, we get a clear understanding of your strategy and culture, go deeper into your specific needs, and get a better understanding of what’s working and what’s not. All of this helps guide the creation and delivery of your solution.The outcome of the due diligence and interviews is a solution blueprint (customizing summary and sales process) that we will provide to you. The blueprint serves two purposes. The first is to share with you what we have learned and demonstrate to you that we understand your business, we have captured all of your key needs, your target markets, your differentiators, etc. We want to make sure that we heard you correctly and that you feel confident that we understand your business and sales situations. Secondly, based on our understanding and all of the information we have gathered about your needs and opportunities, we will make recommendations for the learning and sustainment content and strategy. This is where we are going to lay out exactly what content your managers and salespeople will learn before, during, and after the training events. We will also work with you on a sustainment plan and cadence, as well as recommended modalities for each piece of the solution. (Optional to pass around a client customizing summary while describing the blueprint. You MUST collect it back and black out the client name on the summary to protect the client’s confidential information.)We won’t take another step until we gather your feedback and validate our recommendations to ensure we are in lockstep with your thinking.Finally, we move into the full development phase and the creation of the deliverables.
  • I’d like to walk you through our customization process.Many training companies say they customize, but this could mean simply changing out a logo or perhaps writing a custom case study. Here’s what we do with you … We strongly believe that starting a project off with clarity on the plan, responsibilities, and roles among our organizations is critical to overall success. First, we’ll kick off the project and bring our two teams together. During the kick-off, we’ll form a communication plan and establish a cadence for how we will work together. We’ll work and validate a project plan. Our next step is to review any existing content, sales process, or tools as part of our due diligence so that we can integrate any materials or processes that you want to introduce or reinforce throughout the initiative.Then, we’ll go through a series of stakeholder interviews. Most often, these are senior executives, frontline sale managers, and top performing sales reps. Through these interviews, we get a clear understanding of your strategy and culture, go deeper into your specific needs, and get a better understanding of what’s working and what’s not. All of this helps guide the creation and delivery of your solution.The outcome of the due diligence and interviews is a solution blueprint (customizing summary and sales process) that we will provide to you. The blueprint serves two purposes. The first is to share with you what we have learned and demonstrate to you that we understand your business, we have captured all of your key needs, your target markets, your differentiators, etc. We want to make sure that we heard you correctly and that you feel confident that we understand your business and sales situations. Secondly, based on our understanding and all of the information we have gathered about your needs and opportunities, we will make recommendations for the learning and sustainment content and strategy. This is where we are going to lay out exactly what content your managers and salespeople will learn before, during, and after the training events. We will also work with you on a sustainment plan and cadence, as well as recommended modalities for each piece of the solution. (Optional to pass around a client customizing summary while describing the blueprint. You MUST collect it back and black out the client name on the summary to protect the client’s confidential information.)We won’t take another step until we gather your feedback and validate our recommendations to ensure we are in lockstep with your thinking.Finally, we move into the full development phase and the creation of the deliverables.
  • Let’s first talk about how we’ll help you define those few most important activities that will help you get the most lift.First, we recommend our SkillGauge™ diagnostic.
  • SkillGauge™ is a sales skills diagnostic and it serves many purposes across the learning process.First, we administer it as a skill gap analysis tool. It is a behavioral and situational diagnostic that salespeople take themselves. It prepares salespeople for the classroom experience by identifying gaps and strengths. It gets them focused on learning and taking ownership of their development and increases accountability.  It is used in the classroom by the instructors who point to it and refer back to it at every point on the agenda. They go back to page whatever in your diagnostic and see how you did here before we go into this learning module. At the end of the training session, they develop an action plan that they execute themselves when they get out of the classroom.  SkillGauge also supports coaching and sustainment. We recommend that within 30 days of exiting the classroom, salespeople schedule one-on-one coaching sessions with their managers to review the results and create a joint 90-day action plan. The managers will monitor the plan and ensure that it is being followed. They will coach and help the salesperson. What we have done is effectively extend the duration of the training for about 120 days at that point. We are saying that in addition to the coaching session, there is going to be 90-day follow-up that is going to be linked specifically to the skills that were taught in the classroom.
  • Here is a snapshot of sample SkillGauge question and report output. [Hand out a sample report]SkillGauge is not a one-time event. Nine months later, we administer a post-training diagnostic. It is a very inexpensive and complete refresh of all the training concepts. What they are seeing is a diagnostic that points back specifically to everything they learned in the classroom. It is pointing out additional gaps and improves strength. It starts that action planning cycle again. If you add all those things together, you will keep training alive with your salespeople for a yea, very consistently but also with a purpose. These are scheduled events that take place and force other events like coaching. What questions do you have about SkillGauge?
  • If you refer back to the solution map, we are now going to dive into the develop phase – which focuses on the training we will provide to your teams.We recommend a 2-day Consultative Selling Skills program for everyone and a 1-day Developmental Sales Coaching program for your managers.
  • Consultative Selling Skillsis a 2-day live instructor-led program.According to Aberdeen research, the top focus area of best-in-class sales organizations is to improve customer dialogues to address buyers business needs.Consultative Selling brings organization-wide consistency, discipline, and skill for how sales calls are planned, structured, and executed – it will give you and your people a powerful roadmap for successful need-based dialogue.The program focuses on helping your people differentiate by solving problems and creating value for clients. Think of it as helping your people move away from solely focusing on your products to first focusing on the customer and the customer’s objectives and then jointly crafting a solution that the client really buys into.It also provides a consistent, repeatable approach that you can manage and coach to.
  • Hand out sample handbooks, as well as framework and skills --- do not leave handbooks behind! Be sure to black out client names for confidentiality.Here is an example of a fully customized participant guideIn there you will see all of the frameworks, models, and skills that we teach. (highlight the framework and six critical skills pages, if appropriate)But first, I’d like to point out a few high-impact areas that the program addresses.The first is in the area of preparation. If you ask most salespeople today, they will tell that you they think preparation is important and that yes, they do it! But in our experience, we have found that preparation is often not given enough attention and is only one-dimensional. In the best case, researching the website and reports and reviewing previous call notes – in the worst case, beginning prep in the car on the way to the meeting. We teach participants to think of preparation in 3 layers – strategic preparation, client preparation, and technical preparation. Strategic preparation is about thinking of your meeting objectives, visualizing the meeting, and every stage from opening to need dialogue to solution to close. Client preparation is about understanding their objectives, their strategies, and the political dynamic. Technical preparation is making sure you know your features and benefits, your industry and market. What we find is that most salespeople spend the bulk of their time with technical preparation (product, features, benefits) and not enough time in strategic and client preparation. In our program, we help them spend time seeing the difference between these 3 types of preparation and how to prepare on three levels in an efficient and effective manner.The second areais questioning strategy and skills. It is crucial to keep the customer at the heart of the dialogue. It’s about understanding what’s important to them and getting enough quality information to truly understand their needs. Reps need to know what to ask but also how to ask. Missing on either the questioning strategy or skill delays sales and can put you at a competitive disadvantage. On the other hand, asking great questions and truly understanding client needs sets you up to effectively demonstrate value.The third area is about articulating value to the client by connecting your solution and capabilities to the client’s needs. To do this, you must know what matters most to your client and how that varies depending on the person you are speaking to. Value is certainly in the eye of the beholder. It’s incumbent upon salespeople to articulate that value clearly, succinctly, and specifically to the client rather than to leave the client to draw their own assumptions or connect the dots.Finally, we spend time focusing on closing as a process. We are often asked to help improve organizations in their closing efforts, and one of the first things we teach is that closing is not an event. In every interaction, through every stage, you should be closing – either closing by getting a yes to a next concrete step or closing with a yes to the business. Few sales today close in one call. Its important for your salespeople to have clear objectives for a call and work toward the right commitment from the client to move the sale forward.Those are some highlights. What questions do you have about our Consultative Selling Skill program?
  • For your Managers, we are recommending a one-day Developmental Sales Coaching workshop.According to Aberdeen research, best-in-class organizations are more than twice as likely than laggards to support sales training with coaching.We believe that sales managers are the force-multipliers in your sales organization, and their willingness and ability to support your initiative is crucial to your success.DSC provides a framework and builds skills to transition your sales managers from more of an administrative function or a super sales rep to true coaches that help their people achieve business objectives.Our framework shows thesales manager how to transition ownership and accountability for action from themselves to the salesperson. Through developing questioning skills, sales managers help the salesperson uncover obstacles and create their own solutions. This enables the salesperson to take ownership of the solution and improve their situation. This is different than telling someone to do something -- when sales mangers do this, salespeople take less ownership in the solution. When they discover and take ownership on their own, it is more likely that the salesperson will take action.We find that our approach freesup time for the sales manager to coach all members of their teams, and this improves results for all salespeople.Finally, it creates an organization-wide culture that welcomes and thrives on feedback because the primary purpose of the feedback is to drive results. Feedback becomes an everyday activity that drives results, as opposed to a once or twice a year event that is more of a look in the rearview mirror about what didn’t go well.
  • ---- Hand out sample handbooks as well as framework and skills --- do not leave handbooks behind!Here is an example of a fully customized participant guideIn there, you will see all of the frameworks, models, and skills that we teach. Here are some of the most important areas that we see our clients struggle with at first but that the program addresses.The first area is that in a coaching meeting, the sales manager does all of the talking and all of the telling. As we mentioned earlier, when this happens, the salesperson doesn’t take ownership of the solution and accountability for following through. Instead of telling the salesperson what to do, the sales manager asks good questions that guide the salesperson to discover their own obstacles and solutions.The second area is focusing on the sales behaviors that drive business outcomes. Most managers, when they think they coach, just coach to the outcomes. For example, maybe the salesperson needs a more robust pipeline or needs to know when the deal will close, as opposed to the behavior or challenge or obstacle that drives building the pipeline or closing the deal. Unless you understand why the salesperson is struggling to do what you need them to do,you need to get them down to a behavioral-level to change them.The third area relates to following through on commitments and accountability. Sales managers get overloaded and don’t do enough to establish clear action plans or to inspect. In our program, the sales manager helps the salesperson identify and take ownership of the solution, and we make sure that the sales manager gets crystal clear about the next steps and inspection.What questions do you have about our developmental sales coaching program?
  • We deliver an unbelievable classroom learning experience. It is truly one of the highlights of the solution.The classroom experience is very important to your people because for many, it might be their first encounter with a new way of doing things and new expectations. You want them to have a very positive experience so that they leave excited and bought in. Conversely, a bad experience will fuel cynicism.A Richardson learning experience is highly engaging, interactive, and real.From a participant experience, we do things differently. We don’t use PowerPoint.  It is a working session with flipcharts and handbooks, not a presentation where anyone in the room can check out or disengage.We don’t “teach-practice-teach-practice.”  We employ a methodology of self-awareness and discovery (Dennis always called it Socratic method) — we start with benchmark exercises to both see what they do in their current state to develop awareness of that which they do.  We then teach a model.  And intellectually, if we teach the model first — they often think that’s exactly what they do — it makes total sense.  But if we do the benchmark first, they realize that while it intellectually makes sense, it’s not what they do naturally and consistently.  After we teach the model, we then do another practice session (role play, etc.) where they are really aware of what they’re doing and what they SHOULD be doing.  The self-discovery leads to the “a-ha” that leads to behavior change.  Without it, behavior change does not happen.We are experts at dissecting the dialogue.  We help participants in analyzing what they are doing in the dialogue and making small changes that lead to big impacts.  We do this through our redirect — stopping in action, rewinding, analyzing, asking how they could do differently, and then actually having them doing it differently and seeing, in real time, the impact.  We also do this in how our role plays are written.  The customer role is written in a way that provides immediate feedback.  “If the salesperson says this or goes straight to positioning, you will shut down.” So, even in small groups when a facilitator isn’t present, they are experiencing the impact of positive or less-than-desirable behaviors.Given the clients with whom we work, it is not uncommon for reps to have been through many different types of sales training. Also, we expect that you will have people with very different levels of experience. Our facilitators are experts at adapting their approach to accommodate and challenge all levels.Not only are they outstanding facilitators, they are gifted coaches. They will provide individualized coaching -- encouraging participants and giving balanced feedback. Then of course, there’s the redirect. When we role play, we don’t let learners go down the wrong path.
  • Before we move on, what questions do you have about ?Great, now lets move on to the plan to drive impact.We recommend our QuickCheck and Manager’s Toolkit.
  • You reps and managers won’t apply what they can’t remember.Our award-winning QuickCheck system helps reps master knowledge learned in the classroom and adopt new behaviors that lead to better performance.The science behind QuickCheck was developed at Harvard Medical School to help residents and emergency room nurses retain knowledge and apply skills under stressful conditions. In clinical trials, QuickCheck was clinically proven to extend knowledge retention by 70%.The process can help your reps and managers extend knowledge retention from about 30 days to over 180 days – the time needed for behavior change to really take hold.
  • The process takes minutes a week and can be taken on any mobile device or laptop with internet connectivity. Once the system is set up, three times a week, participants receive an email with a scenario, select the best answer, and get immediate feedback on their choice. Questions are sent randomly, and when a rep answers the same question correctly twice in a row, the question is retired. The process lasts for about 12 weeks and covers 20 questions.
  • Results are tracked in a database and can be displayed on a leaderboard – creating some friendly competition that motivates your salespeople to win. Managers have access to their people’s results and can focus coaching on reps who are underperforming.There is also a convenient administrative dashboard to view results across your organization.QuickCheck is very popular with our clients because it is quick and easy and it works.We’re very proud to have won a prestigious Brandon Hall Gold award for the best new learning technology in 2012.What questions do you have about QuickCheck?

Strategies for Sales Sustainment Strategies for Sales Sustainment Presentation Transcript

  • © 2014 Richardson. All Rights Reserved. Sustainment Strategies Ensure Sales Training Delivers Results David DiStefano PresidentandCEO Sustainment Strategies Ensure Sales Training Delivers Results
  • © 2014 Richardson. All Rights Reserved. Today’s Sales Effectiveness Challenge 1 U.S. companies spend $5bil The average sales rep forgets 87% With sales process alone, sales reps make quota <50% >90% With sales process, technology, and coaching, of sales reps make quota
  • © 2014 Richardson. All Rights Reserved. Effective Sales Training Matters 2 © 2014 Richardson. All Rights Reserved. Aberdeen Group reported that “effective” sales training significant improves performance
  • © 2014 Richardson. All Rights Reserved. The Key to Sales Effectiveness 3 © 2014 Richardson. All Rights Reserved. (Forrester Research) (Sirius Decisions) Best in Class Strategies to Sustain Sales Training Impact
  • © 2014 Richardson. All Rights Reserved. Most Struggle to Sustain Impact Very Effective 9% Effective 23% Ineffective 24% Somewhat Effective 44% Percentage of Respondents, N = 182 Effective Ineffective 68% are not effective
  • © 2014 Richardson. All Rights Reserved. The Duration of Impact Varies Almost 50% of companies sustain the impact of training for 90 days or less 30 to 90 days 48% 91 to 180 days 26% 181 to 365 days 6% More than 1 year 20% Percentage of Respondents, N = 184
  • © 2014 Richardson. All Rights Reserved. Failure to Plan is a Plan for Failure 6 • Attained 129 quota • Increased client satisfaction scores • Increased pipeline 195% for coached accounts vs. non-coached accounts • First year ROI of $23.7MM on $1.4MM spend with Richardson in first year • Moved from #5 to #1 in Net Promoter Sustained training 63% longer (100 days) • Score among Canadian Banks • 12% increase in unit sales (wallet share) Ineffective Effective
  • © 2014 Richardson. All Rights Reserved. more likely to establish post-development plans and prepare leaders to lead change Planning Involves “Expectation Setting” 7 7% 25% 11% 21% 44% 31% 38% 48% 58% 41% 0% 33% 35% 53% 63% 65% 67% 68% 70% 70% 0% 20% 40% 60% 80% None of the above Inform cross-functional leaders of the initiative Create excitement through videos promoting the training Prepare leaders to lead change Make participants aware of how they’ll be evaluated Establish post-training developmental plans Establish and communicate key performance indicators… Have managers communicate expectations for training… Communicate strategic importance of training to… Prepare sales managers to reinforce change Percentage of Effective Group, N = 57 2x
  • © 2014 Richardson. All Rights Reserved. more likely to use sales management optimization 8 Sales Managers are Difference Makers © 2014 Richardson. All Rights Reserved. 18% 20% 11% 28% 21% 33% 35% 47% 2% 33% 35% 44% 44% 46% 51% 65% 0% 20% 40% 60% 80% None of the above Sales process or skill development embedded… Sales management process optimization Pre-training sales behavior or personality… Sales process optimization Pre-training sales skills assessment Learning Management System Sales playbooks, guides, and tools Percentage of Effective Group, N = 57 Percentage of Ineffective Group, N = 123  Establish CADENCE of activity  COACH on regular basis  INSPECT Verifiable Outcomes  USE “High-impact” QUESTIONS 3x
  • © 2014 Richardson. All Rights Reserved. Technology Drives Sustained Behavior Change 9 *Source: Trainingindustry.com Research  Embed methodology  Guide selling activities  Make learning mobile
  • © 2014 Richardson. All Rights Reserved. Strategies to Reinforce/Transfer 10 13% 9% 17% 22% 30% 31% 33% 36% 38% 48% 31% 5% 18% 35% 35% 38% 38% 56% 56% 58% 58% 60% 0% 10% 20% 30% 40% 50% 60% 70% None of the above Utilize gamification Assess training adoption on an individual level Communicate individual KPIs Provide just-in-time coaching Publicize individual/team sales performance levels Provide opportunities for shadowing and on-the-job… Provide regular/ongoing coaching sessions Provide opportunities to learn from peer experiences Provide refresher training in core concepts Provide individual feedback on skill assessments Percentage of Effective Group, N = 55
  • © 2014 Richardson. All Rights Reserved. 11 Takeaways  Invest  Establish post-training developmental plans up front  Utilize “gamification”  Introduce mobile/tablet solutions  Evaluate, Coach and provide individual feedback
  • © 2014 Richardson. All Rights Reserved. 12 © 2014 Richardson. All Rights Reserved. Best in Class Case Study
  • © 2014 Richardson. All Rights Reserved.© 2014 Richardson. All Rights Reserved. Richardson’s Sales Effectiveness System™ 13 Define Develop Drive Train Key Selling Skills  Using the New Sales Process  Opportunity pursuit  Strategic Account development  Strategic Questioning Skills  Differentiating and Adding Value  Leveraging the Team  Positioning Insights/New Ideas Train Key Coaching Skills  Coaching to the Sales Process using Verifiable Outcomes  Coaching to Key Selling Skills  Using the Manager Toolkit•Configure Systems  CRM and Sales Tools  Marketing automation • Lead Change  Leaders leading change workshop •Assess Talent & Skills  Evaluate talent against sales strategy  Benchmark current skills •Develop Processes & Practices  Best and next practices • Align Systems  SAVO Sales Process Pro™  Marketing-sales alignment •Apply Skills  Coaching to diagnostic results  Manager Toolkit  Coach-the-coach training • Retain Knowledge  QuickCheck: Mastery  Topical webinars  Good-to-great video • Set Expectations  Personalized Passport  Change Story • Prevent Relapse  Coaching communication reminders  Adoption questions •Define Meaningful Metrics  Business metrics  Evaluation strategy
  • © 2014 Richardson. All Rights Reserved.© 2014 Richardson. All Rights Reserved. 14
  • © 2014 Richardson. All Rights Reserved.© 2014 Richardson. All Rights Reserved. 15
  • © 2014 Richardson. All Rights Reserved. 16 Sustainment Sponsorship Roadmap © 2014 Richardson. All Rights Reserved. Skill Diagnostic – SkillGauge™ Knowledge Mastery – QuickCheck™ Learning Refresh – Manager’s Toolkit• Align Systems  Marketing-sales alignment  SAVO Sales Process Pro™  Product profiles •Apply Skills  Coaching to diagnostic results  Manager toolkits  Coach-the-coach training • Retain Knowledge  QuickCheck: e-mail-a-day learning reinforcement  Special topic webinars  Good to Great Videos • Set Expectations  Next step webinar*  Personalized passport  Change story • Prevent Relapse  Adoption questions  Coaching communication reminders • Sales Executives: Positioning Change Story before Training • Sales Managers: Positioning Change Story after Training • L&D Lead: Facilitate Next Steps Webinar & Provide Passport • Sales Executives: Kick-off QuickCheck Competition • Sales Managers: Play QuickCheck and Attend Webinars with Team • L&D Lead: Monitor QuickCheck & Host Special Topic Webinars • Sales Executives: Attend Coaching-the-coach Training • Sales Managers: Coaching and Using Toolkits with Sales Teams • L&D Lead: Facilitate the Coaching-the-coach Training • Sales Executives: Foster Agreement Between Sales & Marketing • Sales Managers: Sponsor the Use of Tools in CRM • L&D Lead: Facilitate Webinars on Tools in CRM & Product Profiles • Sales Executives: Asking Adoption Questions • Sales Managers: Asking and Answering Adoption Questions • L&D Lead: Positioning Coaching Communication Reminders
  • © 2014 Richardson. All Rights Reserved. 17 © 2014 Richardson. All Rights Reserved. Specific Tools
  • © 2014 Richardson. All Rights Reserved. 18 Richardson QuickCheck™ Mobile Sales Enablement and Analytics Sales reps master what was learned in the classroom Developed at Harvard Medical School Extends knowledge retention by 70% Supports sustainment of behavior change Typical Learning and Forgetting Curves Spaced Learning Reminders Improve Retention
  • © 2014 Richardson. All Rights Reserved. 19 © 2014 Richardson. All Rights Reserved. Skill Diagnostic – SkillGauge™ Richardson QuickCheck™ Mobile Sales Enablement and Analytics Question Answer Response Explanation
  • © 2014 Richardson. All Rights Reserved. 20 © 2014 Richardson. All Rights Reserved. *Source: Aberdeen Research Sales Leader’s Dashboard 0 20 40 60 80 100 Percentage 61% 34% Group Performance Baseline Mastery Leaderboard Richardson QuickCheck™ Mobile Sales Enablement and Analytics
  • © 2014 Richardson. All Rights Reserved. 21 © 2014 Richardson. All Rights Reserved. SAVO’s Sales Process Pro (for Richardson)  Reflects Richardson’s sales methodology  Prescribes the right content, messaging, experts and coaching  Keeps deals on track
  • © 2014 Richardson. All Rights Reserved.© 2014 Richardson. All Rights Reserved.
  • © 2014 Richardson. All Rights Reserved.© 2014 Richardson. All Rights Reserved. 23  Automated relationship and value mapping  Aggregated social intelligence  Embedded collaboration space enables team selling  Automated document creation and customization  Mobile-first, intuitive design SAVO’s Sales Process Pro (for Richardson)
  • © 2014 Richardson. All Rights Reserved. High Engagement – Interactive – Learn by doing – Challenging for all levels – Individualized coaching – Redirect 24 Expert Facilitation – Experience – Carry the bag – Industry – Global
  • © 2014 Richardson. All Rights Reserved. 25 © 2014 Richardson. All Rights Reserved. Skill Diagnostic – SkillGauge™ Knowledge Mastery – QuickCheck™ Learning Refresh – Manager’s Toolkit  Verifiable outcomes tracked  Deal Quality Index objectively measures overall deal health and trajectory  Insights Dashboard gauges seller adherence to best practices  Solution integrates fully with SFDC SAVO’s Sales Process Pro (for Richardson)
  • © 2014 Richardson. All Rights Reserved. 26 Measurement is Central to Sustainment
  • © 2014 Richardson. All Rights Reserved. 27 business results on-the-job behaviors knowledge retention training satisfaction
  • © 2014 Richardson. All Rights Reserved. Thank You