Sales Summit 2 - Minds&More - Keynote speech

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key note speech of Joe Galvin on sales productivity, sales best practice and sales effectiveness .. given at sales summit 2 from Minds&More (oct 9, 2013); research done by Miller Heiman

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Sales Summit 2 - Minds&More - Keynote speech

  1. 1. “The Sales Performance & Productivity Summit II” Keynote 13:00 – 14:00 Insights from world class sales organizations, Outperforming the market by 25% Joe Galvin, Chief Research Officer Miller Heiman Tweet #9octsalessummit SMS 0495/582.221 with your question + name © Miller Heiman , Inc. All Rights Reserved. 1
  2. 2. Sales Analytics: The Next Level of Transparency October 9, 2013 Joe Galvin © Miller Heiman , Inc. All Rights Reserved. 2
  3. 3. Increasing Levels of Transparency Spreadsheet 1990 Client Server 1996 Deploy new CRM System Paper Form 1984 22% 0% 53% 20% 40% Completed in 2012 or prior 25% 60% 2013/2014 80% On Demand 2004 100% Not planned or in place SFA Market 2012: $4.7 billion © Miller Heiman , Inc. All Rights Reserved. Miller Heiman Research Institute Research Note: Sales Analytics: The Downside of Transparency 3
  4. 4. Examples Exist Everywhere Replaced Baseball Scouts Judgment with Facts “21” MIT Math PhDs Crack the Card Counting Code Wearable Technology © Miller Heiman , Inc. All Rights Reserved. 4
  5. 5. The Next Level of Transparency Outcomes Funnel Confidence Fuzzy Funnels Anecdotal Perceptions Activities Behavior Modeling The Next Level of Transparency © Miller Heiman , Inc. All Rights Reserved. Miller Heiman Research Institute Research Note: Strategic Themes 2014: The Next Level of Transparency 5
  6. 6. Sales Performance Management Sales Performance Management Measure, Predict and Influence Sales Performance Measure Predict Cost of Sales Sales Achievement Sales Performance Customers Markets Products Sales Forecast Sales Funnel Analytics © Miller Heiman , Inc. All Rights Reserved. Influence Territory Definition Compensation Plan Quota Allocation Frontline Sales Manager Productivity Infrastructure Miller Heiman Research Institute Research Note: Sales Performance Management: Measure, Predict and Influence 6
  7. 7. Forecast Accuracy Those that have strong forecasts for 2013 report higher accuracy 100% 90% 15% 42% 80% 70% 35% 74% greater than 80% 27% greater than 80% 60% 50% 22% 39% 40% 30% 81-90% 71-80% 15% 9% 9% 7% 4% 7% <100% Forecast 100%+ Forecast 20% 10% 0% 91-100% 11% © Miller Heiman , Inc. All Rights Reserved. Miller Heiman Sales Performance and Productivity Study 2013 61-70% 51-60% <50% 7
  8. 8. Confidence in Funnel/Opportunity Data? Organizations on track to achieve plan also have higher confidence in their opportunity data <100% Forecast 100%+ Forecast 5% 10% 14% 22% 22% <50% 12% 51-60% 61-70% 12% 20% 71-80% 14% 17% 91-100% 22% 44% 20% Funnel Confidence of 70% or greater © Miller Heiman , Inc. All Rights Reserved. 81-90% 54% Funnel Confidence of 70% or greater Miller Heiman Sales Performance and Productivity Study 2013 8
  9. 9. Sales OPS: Core Responsibilities  Manage Sales Performance - Measure, Predict and Influence Sales Behaviors • • • • Operational Data: Results, costs Opportunity Data: Funnels and forecasts Activity Data: Sales calls, demos, proposals Productivity Data: Conversion and velocity  Customer Management Process - Connecting with Customers • Create Opportunities • Manage Opportunities • Manage Relationships  Alignment of the Sales Technology Infrastructure - Powering Information and Data Exchange • • • • Territory Management SFA-CRM Integration Sales Process Emulation Mobility © Miller Heiman , Inc. All Rights Reserved. Miller Heiman Research Institute Research Note: Sales Operations: Defining the Core 9
  10. 10. Strategic Theme: Customer Management Strategy Buying Dynamic Account Management Prospecting Sales Cycle Manage Relationships Sales Create Opportunities Manage Opportunities Customer Management Marketing Customer Marketing © Miller Heiman , Inc. All Rights Reserved. Demand Creation Content Marketing 10
  11. 11. Strategic Theme: Frontline Sales Manager In an average month, our sales managers definitely spend adequate time coaching each individual on the sales team. 8 hours 36 minutes Monthly time spent by managers in World-Class Sales Organizations on “Skills Development” or “Product Training” 4 hours 24 minutes All 8 hours 36 minutes WC 0 540 Source: 2013 Miller Heiman Sales Best Practices Study © Miller Heiman , Inc. All Rights Reserved. 2013 Sales Best Practice Study The Growing Gap Between Good and Great 11
  12. 12. 2014 Miller Heiman Sales Best Practices Study  The largest ongoing global study of complex B2B sales management and selling activities  Analysis identifies attributes of World-Class Sales Performance  Data is the basis of research services, benchmarking company performance to World-Class Sales Performance. 2014 Miller Heiman Sales Best Practices Study open through November 4th www.millerheiman.com/research Respondents have access to results via Executive Summary and exclusive participant webinar. 2013 Study: 1,100+ responses, 15 verticals © Miller Heiman , Inc. All Rights Reserved. 12
  13. 13. Your Sales System Customer Management Business Management © Miller Heiman , Inc. All Rights Reserved. 13
  14. 14. Sales Performance: Customer Management Alignment Chief Sales Officer Revenue, Expense, Marketshare Sales Management Channel/Region/Segment Sales Manager Frontline, Quota Bearing Sales Rep Customer Management Field/Inside/Channel Sales Hierarchy Tiered Matrix Performance © Miller Heiman , Inc. All Rights Reserved. 14
  15. 15. The Levers of Productivity Chief Sales Officer Revenue, Expense, Marketshare Sales Management Sales Operations Channel/Region/Segment Territories, Metrics, Comp, Quota Sales Training Sales Manager Frontline, Quota Bearing Process, Skills, Product, New Hire Sales Enablement Leads, Knowledge, Message, Tools Salesperson Sales Technology Field/Inside/Channel SFA, Apps, Platform. Mobile Sales Infrastructure Performance Productivity © Miller Heiman , Inc. All Rights Reserved. 15
  16. 16. Sales Force Automation: Next Generation SFA Foundation ICM –Sales Compensation Methodology Automation Accounts Contacts Opportunities Comp Plans Account Plans Crediting Rules Opportunity Plan Funnel/Forecast Quota Mgmt. Territories Sales Hierarchy Commission Statements Analytics Historical Data Capture Predictive Modeling Coaching Team Selling Productivity Metrics Sales Force Automation: Next Generation Visibility and Transparency - Reports and Dashboards © Miller Heiman , Inc. All Rights Reserved. 16
  17. 17. MSFT analytics © Miller Heiman , Inc. All Rights Reserved. 17
  18. 18. Funnel Confidence – Forecast Accuracy  Clearly defined customer management strategies - Sales Ops  Frontline sales manager expertise - Sales training  Organizational execution - Sales leadership  Technology Infrastructure - Align with Customer Management © Miller Heiman , Inc. All Rights Reserved. 18
  19. 19. The Next Level of Transparency Outcomes Funnel Confidence Fuzzy Funnels Anecdotal Perceptions Activities Behavior Modeling The Next Level of Transparency © Miller Heiman , Inc. All Rights Reserved. Miller Heiman Research Institute Research Note: Strategic Themes 2014: The Next Level of Transparency 19

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