Cso Insights Sales 2 0 Webinar LucidEra

Accelerate Sales Effectiveness in a Sales 2.0 World Barry Trailer, CSO Insights Ken Rudin, LucidEra

Today’s Agenda
Sales 2.0 Introduction and Overview
Barry Trailer, CSO Insights
Business Analytics: The Sales 2.0 Enabler
Ken Rudin, LucidEra
Q & A
Copyright © 2007 LucidEra – All rights reserved

Polling Question
Do you believe that Sales 2.0 is:
Hype?
Hope?
Happening?
Huh?

Sales Process Workshop Sales 2.0 Hype? Hope? Or Happening? http://www.lucidera.com/resources/whitepapers.php

Where to Find Us www.csoinsights.com

An Observation on Sales Today
“ Customers’ buying processes have evolved in our world of ubiquitous, instant, global communication, but companies’ selling processes have for the most part stayed the same.”
Thomas Stewart, Editor Harvard Business Review
August, 2006

Efficiency vs. Effectiveness Impacts
The Four Levers Available to Sales Management
Identifying the Right Sales Metrics
Metrics Impact on Performance
Fact-based vs. Hunch-based Management
Key Topics for Today’s Discussion

Trends from Efficiency vs. Effectiveness
Quota Attainment
Number of Sales Calls
Number of No Decisions
Amount of Discounting
New Sales-rep Ramp-up Time
Percentage of Winning Proposals

Percentage of Reps Making Quota Under Quota 43% Meeting or Exceeding Quota 57%

Number of Calls to Close a Deal

Outcome of Forecast Deals No Decisions 21.3% Wins 48.4% Losses 30.3%

Sales Rep Ramp Up Time 2003 2007 <3 months 3-6 months 7-12 months >1 year 27.8% <3 months 4.7% 3-6 months 26.8% 7-12 months 38.1% <3 months 14.6% 3-6 months 45.3% 7-12 months 28.6% >1 year 11.6%

Four Sales Effectiveness Levers Process People Technology Knowledge

A = P A = P

= P PROCESS A INPUT INPUT

A x Q = P

1. Prospect Quality -- Cultivating and working on the right Sales Opportunities .
2. Process Quality -- Doing the right Selling & Marketing Actions , with the right people , at the right times .
3. Execution Quality – Doing the right Actions well .
4. Reference Quality -- Doing the right Customer Support/Service follow-through .
5. Metrics Feedback Quality -- Sustaining performance and improvement in 1-4 above.
Aspects of Quality in Sales

INPUT OUTPUT PERFORMANCE F E E D B A C K PROCESS

1. Accurate
2. Consistent/Objective
3. Relevant
4. Timely
5. Individualized
5 Tests for Meaningful Feedback

Sales 2.0: Definition
Increased communication and collaboration between sellers and buyers and within selling teams.
The Sales 2.0 environment is heavily dependent upon technology (including Web 2.0 offerings) to do everything from routine contact and account management to increasingly sophisticated opportunity management and prospect collaboration.
Proactive and visible integration of knowledge and measurement of the buying cycle into the sales cycle.

Sales 1.0 vs. Sales 2.0
Sales 1.0: Chaos
Command, Control, Conquer
Sales 2.0: Coordination
Collaborate, Choreograph, Capture
VS.

Participate in CSO Insights’ 2008 Sales Performance Optimization Survey! visit: www. csoinsights.com click on: “Take the Survey” for details Participate!

Today’s Agenda
Ken Rudin, LucidEra
Q & A

CRM addresses only half of the problem
What you wanted…
Copyright © 2007 LucidEra – All rights reserved Top 3 Sales Objectives for Next 3 Months

Impact on Sales
Reps typically end up doing essentially the same things faster rather than fundamentally differently

Are you doing the wrong things faster?
Focus on sales effectiveness (having the right process), not just sales efficiency (doing things quickly)
Copyright © 2007 LucidEra – All rights reserved Survive Die Dominate Die (Quickly) Doing things the wrong way (inefficiently) Doing the wrong things Doing things the right way (efficiently) Doing the right things Process Efficiency

Analytics: The critical half of the solution
The critical element to process improvement: FEEDBACK!
You’ve put your data into CRM, now get the value out

Polling Question
How do you analyze sales data in your organization today?
Rely upon the CRM system only (e.g. Salesforce.com)
Pull data into spreadsheets
Bring data into our on-premise data warehouse
Combination of A and B
None of the above

LucidEra: Business Analytics On Demand
Focused analytic solutions
Sales Analysis
Revenue Cycle Analysis
Simple to set-up, use, and buy business intelligence platform
Copyright © 2007 LucidEra – All rights reserved Copyright © 2007 LucidEra – All rights reserved With LucidEra, I get visibility across the CRM and accounting systems to get quick and easy insights that help my team achieve forecasted goals. ” “

Identify Where to Focus
And realize the goals you set out to achieve
Find out where you’re doing well and where you’re falling behind
Track changes to your pipeline over time
Know which deals to focus on to maximize your results
Understand where your team needs help
See what patterns are emerging and what’s coming next
To improve process, you need answers, not just static reports

Drive Sales Process Improvement
With answers...
How long does it take a lead to mature?
How long does each step in our sales process take?
How long does it take a sales rep to ramp up?
What are our close rates?
How are our average deals sizes changing?
You can improve performance…
Better timing of campaigns
Tighter targeting of prospects
More effective pursuit of leads
Increased pipeline velocity
Identifying and sharing best practices

Compete and Win with Business Analytics
Increase Visibility
Optimize Sales Process
Increase Predictability
Accelerate Revenue
An analytical competitor is an organization that uses analytics systematically to out-think and out-execute the competition.
“ ”

Next Steps
Review your free copy of the CSO Insights 2007 Sales Performance Report
And visit: www. csoinsights.com and click: “Take the Survey” to participate in the CSO Insights 2008 Sales Performance Optimization Survey
Visit us at the Sales 2.0 conference next week in San Francisco
Take a Test Drive or sign-up for our 10 Days to Insight trial today
www.lucidera.com

Agenda
Ken Rudin, LucidEra
Q & A

Discussion
Barry Trailer
[email_address]
www.csoinsights.com
Ken Rudin
[email_address]
www.lucidera.com

Cso Insights Sales 2 0 Webinar LucidEra

by Darren Cunningham on Oct 28, 2007

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Cso Insights Sales 2 0 Webinar LucidEra — Presentation Transcript