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Build A Sales Machine: Avoid The 7 Fatal Sales Mistakes & Double New Revenue
 

Build A Sales Machine: Avoid The 7 Fatal Sales Mistakes & Double New Revenue

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  • It is perfect timing for PebbleStorm, because business has changed, and it will never be the same
  • BRENT
  • Be overly specific about your targets It doesn’t matter how many people you talk to if they are the wrong ones!
  • BRENT
  • Short and clear explanation of why you’re emailing the target. Credibility statement What kind of response rate do you think you can get from CEOs and other C-level execs? 1%? 2%? Try 9%.

Build A Sales Machine: Avoid The 7 Fatal Sales Mistakes & Double New Revenue Build A Sales Machine: Avoid The 7 Fatal Sales Mistakes & Double New Revenue Presentation Transcript

  • From A Salesforce.com Executive: How To Avoid The 7 Fatal Sales Mistakes CEOs And VP Sales Make & Double New Revenue
  • Aaron Ross - My Story
    • Stanford Undergrad + GSB dropout
    • CEO of LeaseExchange: -$5 Million
    • Ironman Triathlon, Boulder Outdoor Survival School
    • Sr. Director at Salesforce.com: $100 Million
    • ‘ Entrepreneur-in-Residence’ at Alloy Ventures ($1B)
    • On 10 advisory boards + investor in six companies
    • Now: PebbleStorm , with three coaching programs:
      • Sales Machine: “Create Predictable Revenue”
      • CEOFlow: “Turn Your Employees Into Mini-CEOs”
      • U nique Genius Coaching for individuals
  • Created A $100M Inside Sales Team At Salesforce.com A“Cold Calling 2.0” process and team that helped increase recurring revenue for Salesforce.com by $100 million & grew F5000 bookings by more than 60%
  • And Years Of Consulting/Advising
  • Why Am I Doing This?
    • After so many years of coaching/advising CEOs and VP Sales…
    • I see the same mistakes made over and over again
    • I made them myself as a CEO
    • They are simple to avoid!
  • Coming: Summer 2010
  • A Wave Of Change
  • What Works In Sales Has Changed
    • Field Sales = 90% of prospecting
    • ABC / Always Be Closing
    • Dials per day, appointments
    • Cold calls
    • Cheesy sales tricks work
    • “ I hate this job”
    • Long letters & emails
    • CRM hurts productivity
    1.0 2.0 Sales Dev = 90% of prospecting Is there a mutual fit? Qualified opportunities / month Research, referral calls Authenticity works “ I learned a lifetime skill” Short and sweet text emails CRM multiplies productivity
  • The 7 Fatal Growth-Killing Sales Mistakes CEOs and VP Sales Make
  • 1. Not Taking Responsibility For Understanding Sales & Leadgen
    • Everything begins with the CEO
    • The CEO must understand the fundamentals of sales and lead generation
    • Avoid arbitrary goals, assumptions and plans
    • Solution: the CEO must take full responsibility for educating & developing themselves
  • 2. Thinking Salespeople Should Prospect (Make Salespeople Jacks-Of-All Trades)
    • Salespeople should fulfill deals
    • Only prospect 20% of the time, to Top 10 Strategic Accounts or to current customers
    • “ Lumping” is when salespeople do it all: qualify, cold call, close and manage accounts
    • Solution: specialize! You only need two salespeople to begin to specialize
  • Separate the Four Core Functions “ Outbound” Customer Success & Renewal Sales Frontline Sales Organic & Marketing Leads “ Inbound” Qualified Opportunities New Customers
  • 3. Assuming Channels Will Do Your Selling For You
    • They won’t
    • You have to control your own destiny
    • The channels will come AFTER you are successful
    • Solution: you must control your own destiny first. Focus on direct sales success before counting channel chickens.
  • 4. “Sales 1.0” Talent Approach (Hiring, Training, Incenting)
    • Hiring wrong, especially in sales leadership
    • Insufficient training (esp. new hires)
    • Misguided expectations, esp. on ramp times
    • Promoting the wrong people
    • Using comp as the main motivator
    • Solution: get coaching on how to hire, train & incent, or find local companies to model.
  • Chinese Proverb
    • If you want one year of prosperity, grow grain
    • If you want ten years of prosperity, grow trees
    • If you want one hundred years of prosperity, grow people
  • Train New Employees In Support/Services Intern With Services or Lead Qualification (2-4 Weeks) Call Stale Leads (1 Week) Call Fresh Leads / Stale Opptys (1-2 Weeks) Degree of Risk Time Call Cold Executives Example: training salespeople in non-sales roles
  • 5. Being “Product-Out” Rather Than “Customer-In”
    • Unclear Ideal Customer Profile
    • No one cares what you do, they only care what you do for them
    • Little executive time spent with customers (should be 25% of your time)
    • Solution: talk to customers to get clear on what you do for them, rather than how you do it.
  • Nail Your Ideal Customer Profile
    • Industries?
    • Geographies?
    • Revenues/employees?
    • Culture clues?
    • Key metrics/datapoints?
    • Dealbreakers?
    • Dealmakers?
    • Ideal contact at targets?
  • 6. Sloppy Tracking And Measurement
    • You have no predictability without a funnel
    • Are you measuring and tracking what you do and produce, or putting it off?
    • “ We’ll do that next [week, quarter, year…]”
    • Unless you understand what works and doesn’t work, you are guessing at how to improve
    • Solution: Start tracking 2-3 key activities / results now. Add something new each month.
  • 7. Command-And-Control (“Push”) Management
    • Employees have few opportunities to contribute beyond their roles
    • More motivation than inspiration
    • Using long hours/hard work instead of creative problem solving
    • Exhausting employees (and management)
    • Solution: read “The Seven Day Weekend” by Ricardo Semler. Subscribe to CEOFlow.com.
  • CEOFlow: “Pull Management”
  • Bonus Mistake: Underinvesting in Customer Support
    • Too focused on new customer acquisition?
    • Ignore account management and support at your peril
    • We have a world of “Frictionless Karma” – bad customer experiences get around instantly
    • Solution: love & handhold your first 50 customers
  • Trust => Extraordinary Growth
  • The CEO Is The Pebble In The Pond
  • CEO Sweet Spot
  • Understanding Leads: Seeds, Nets & Spears
  • Distinguishing types of leads
  • Distinguishing types of leads
    • Lower volume
    • Highest quality
    • Harder to increase
    • Higher volume
    • Low value
    • Easier to increase
    • Lower volume
    • High quality
    • Medium work to increase
    • Grew Salesforce.com
    • revenue more than 40%!
  • ___ Website Visitors ___ Leads (Registrations) ___ Qualified Leads ___ Qualified Opportunities $___ Pipeline $___ Bookings __% Conversion __% Accepted __% Converted $___ Avg /Oppty ___% Close SALES DEVELOPMENT SALES MARKETING Sales Cycle Length ____ __ Lead Qualification Reps per __ Leads per Month __ Account Execs per $__ Pipeline per Month Cost per Lead $___ Nets Funnel
  • Example Spear: ColdCalling 2.0 Incremental
  • Spears Funnel Add Target Accounts Add Contacts __ Call Connects __ New Opportunities __ Closed Deals Prepare Prospect Begin Sales Cycle Work Responses (9% Response Rate) __ Demos/Appointments Define Ideal Target Profile Send __ Cold Emails / Make __ Mapping Calls
  • Prospecting Emails: Less Is More
    • State simply why you are reaching out – and be honest! (In every way)
    • Offer credibility (ex: customer names)
    • Make the email easy to read and respond to on a blackberry/mobile
      • No more than one question per email
      • Simple questions: don’t make them think
  • Sell To Success
  • How most companies sell
  • “ Sell To Success”
  • Build A Sales Machine Coaching
  • The Transformation
    • An easy-to-follow sales development process that leads to predictable sales revenue and an ever-expanding pipeline with 20% close rates
    • Go from erratic and unpredictable leads and sales results to a reliable sales machine that generates pipeline even when no new marketing leads are coming in.
    • A clear step-by-step system to attract, develop, and retain the top sales people that will bring in the highest sales with the least amount of turnover, training and ramp time.
    • Free up your time and energy by making sales a self-managing system that runs itself.
  • Testimonial: WPromote
    • Michael Stone, VP Sales, WPromote (#1 ranked Search Marketing Firm on the Inc 500):
    • “ Working with Aaron Ross has been nothing short of amazing…
    • His methods produced a profitable and scalable new stream of predictable revenue.
    • We saw at least 40+% new business growth .
    • Deal size is still growing.
    • We’re getting in the door with brands like Overstock, AT&T, IBM, etc. – people that would have never come to us.
    • The best part is, we had a blast while doing it!”
  • Special 50% Offer Until 6pm Friday: Predictable Revenue Strategy & Action Plan Session
    • Format: 90-Minute Private Consultation by phone
    • You Walk Away With: Clarity on your bottlenecks and at least three concrete, results-changing, actionable solutions to create more predictable revenue and grow it by 40%+
    • 100% Money-Back Guarantee , if dissatisfied for any reason
    • Only $450 (value $900) for webinar registrants who sign up by 6pm Friday
    • To register:
    • www.CEOFlow.com/coaching