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Sales Webinar | Five Imperatives for Sales Effectiveness in 2013
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Sales Webinar | Five Imperatives for Sales Effectiveness in 2013 Sales Webinar | Five Imperatives for Sales Effectiveness in 2013 Presentation Transcript

  • Five Imperatives forSales Effectiveness in 2013Dave Stein | Founder & CEO Will Wiegler | CMOES Research The TAS Group
  • Introductions Will Wiegler Chief Marketing Officer The TAS Group Dave Stein Founder & CEO ES Research © The TAS Group 2013
  • Five Imperatives for Sales Effectiveness in 2013 Dave Stein CEO &Founder January 9, 2013 @davestei @thetasgroup This presentation contains copyrighted material. Quotation is permitted with full attribution.
  • What We’ll Cover… All graphics: 4 Fotolia.com© 2013 – ES Research Group, Inc. ─ ESResearch.com
  • Poll #1 In my company, the effectiveness of our sales approach is a competitive advantage: A: We regularly outsell our competitors B: It neither helps nor hurts our competitiveness C: We regularly get outsold by our competitors© 2013 – ES Research Group, Inc. ─ ESResearch.com 5
  • #1: Hiring and Developing the Right People • ESR’s research shows that: – 20 to 33% of sales people aren’t suited for the job – After 2 years, 4 out of 5 new hires either: • Aren’t with the same company or • Are not delivering at or above quota – Use of a hiring process can reduce wrong hires by 60 – 80% • The cost of a wrong hire is between $300k and $1m…© 2013 – ES Research Group, Inc. ─ ESResearch.com 6
  • #2: Managing Strong Customer Procurement Teams© 2013 – ES Research Group, Inc. ─ ESResearch.com 7
  • #3: Under-Leveraged Reseller ChannelsWhat’s the trigger?• The economy and shrinking margins required alternatives to the direct model• Less need to conduct business face-to-face• Easier to train and communicate with channel teams.
  • #4: Selling Products, Not Business Value • Your customers seek business improvement through: – Increased revenues – Reduced costs or – Risk mitigation. • Unless you tie your products and services to specific and measurable business value, you’re just a commodity.© 2013 – ES Research Group, Inc. ─ ESResearch.com 9
  • #5: Not Leveraging Social Media & Selling Technology • 57% to 70% of customer buying cycles are complete before a supplier is contacted • Internet shopping for B2B products and services is increasing significantly • Where are your buyers lurking? Your competitors? • Research on your customers, their markets, your competitors • Learning, learning reinforcement • Sales process automation: – Opportunity and account management – Pipeline management – Forecasting© 2013 – ES Research Group, Inc. ─ ESResearch.com 10
  • Poll #2 My company: A: Keeps up with changes in our customers’ buying trends B: Regularly engages with sales consultants and training firms C: Invests in sales effectiveness-oriented research D: All of the above E: None of the above© 2013 – ES Research Group, Inc. ─ ESResearch.com 11
  • Why is Research Important? 1. Keeping up with too many changes too quickly 2. Predicting trends 3. How others are overcoming obstacles and leveraging opportunities 4. The answer may be what you can’t find for free on the Internet 5. Engage with experts© 2013 – ES Research Group, Inc. ─ ESResearch.com 12
  • What Doesn’t Work? • Thinking that selling is more art than science • Not running the sales organization like the business that it is – Processes (sales, hiring, qualification, research, etc.) – (Thinking that hiring/qualification is more art than science) • Not staying up with (ahead of) industry trends: – Your industry – Your customers’ industry • Counting on only Sales 101 to win© 2013 – ES Research Group, Inc. ─ ESResearch.com 13
  • Imperatives and Recommendations 1. Hire and develop the right people 2. Collaborate with your customers’ procurement teams 3. Leverage reseller channels 4. Sell business value, not products 5. Leverage social media &selling technologies© 2013 – ES Research Group, Inc. ─ ESResearch.com 14
  • Imperative #1: Hire and Develop the Right People • Develop and implement a structured hiring process: – Understand how your customer buys and what role the salesperson plays – Profile-based – Behavioral, structured interviews – Integrate assessments – Income verification, background checks – Sales call and sales presentation simulations – Rigorous reference checking – Individualized onboarding© 2013 – ES Research Group, Inc. ─ ESResearch.com 15
  • #2: Collaborate with Customer Procurement Teams • Understand why and how the corporate procurement function has gained so much power • Research how your customer sources from other providers—buyers and sellers will become more collaborative • Know your customer, their business, and your product • Reduce complexity wherever possible • Build appropriate support systems for negotiators • Communicate more effectively ESResearch.com/sales_purchasing • Procurement is not the enemy© 2013 – ES Research Group, Inc. ─ ESResearch.com 16
  • Imperative #3: Leverage Reseller Channels • Understand the requirements of your market. How do your customers buy? • The skills and traits for managing a reseller are different from direct selling. • How will you gain more mindshare from your reseller’s sales reps and principals?© 2013 – ES Research Group, Inc. ─ ESResearch.com 17
  • #4: Sell Business Value, Not Products What business improvement metrics does your customer track? • Streamlined business processes • Higher productivity • Increased market share • Margin improvement • Higher quality • Higher revenues • Lower expenses • Quicker time-to-market • Improved cash flow© 2013 – ES Research Group, Inc. ─ ESResearch.com 18
  • Poll #3 In my company: A: We have a documented, strategic approach to leveraging social media and/or sales enablement technologies B: We are somewhat effective at leveraging social media and technology C: Our social media and technology approach needs a lot of work D: None of the above© 2013 – ES Research Group, Inc. ─ ESResearch.com 19
  • #5: Leverage Social Media & Selling Technology • LinkedIn, Facebook for finding/building relationships • Twitter, Chatter, Pulse for intra- and inter- company micro-blogging • YouTube, Slideshare, blogs for thought- leadership publishing, loyalty • Technology-enabled learning – Embedded and on-demand learning in CRM system • Technology-enabled selling – Dealmaker, other sales process automation tools • Warnings: – Activity versus productivity – Not a replacement to a sales process – Adoption differs by industry© 2013 – ES Research Group, Inc. ─ ESResearch.com 20
  • Summary • Objectively assess your current situation • Determine what the trends are • Research alternative solutions • Build a business case • Build a plan • Execute Thanks! Dave.Stein@ESResearch.com ESResearch.com/blog ESResearch.com/sales_purchasing© 2013 – ES Research Group, Inc. ─ ESResearch.com 21
  • Now It’s Your TurnWe presented 5 imperatives for Sales Effectiveness.You may have others.Go to our LinkedIn Group, share your thoughts andcontinue the conversation. © The TAS Group 2013
  • © The TAS Group 2013
  • Free Resources• www.dealmakerindex.com Score your sales effectiveness. Get advice. See how you compare.• www.dealmakergenius.com Create a customized sales process.• www.dealmaker365.com Read our blog featuring insights on sales effectiveness.• @dealmaker365 @thetasgroup Follow us on Twitter.• www.thetasgroup.com Learn more on our website. © The TAS Group 2013
  • Where You Can Find Us www.thetasgroup.com • US 866.570.3836 • UK +44(0)1189 880 149 • International +353(0) 1 6788 900 • marketing@thetasgroup.com • Twitter: @thetasgroup © The TAS Group 2013
  • Five Imperatives forSales Effectiveness in 2013Dave Stein | Founder & CEO Will Wiegler | CMOES Research The TAS Group