July14 Webinar Hoovers And Selling Power
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July14 Webinar Hoovers And Selling Power

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Overview of initiatives that moved Hoover\'s sales organization to a Sales 2.0 environment in a short period of time.

Overview of initiatives that moved Hoover\'s sales organization to a Sales 2.0 environment in a short period of time.

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  • Low Emphasis with specialsit High emphasis with RMs Talk through the customer and their needs before diving into product
  • Low Emphasis with specialsit High emphasis with RMs Talk through the customer and their needs before diving into product
  • Heavy Emphasis for RMs
  • Heavy Emphasis for RMs
  • Scv should go to campaign management tool Be more explicit in the sequential…services, s/w, partnership

July14 Webinar Hoovers And Selling Power July14 Webinar Hoovers And Selling Power Presentation Transcript

  • Welcome
    • Today’s Webinar:
    • Sales 2.0: How to Sell Smarter and Win More Business
  • Today’s Panelists
    • Moderator:
    • Gerhard Gschwandtner, Publisher & Founder,
    • Selling Power magazine
    • Panelists:
    • Karen Kennedy, Executive Vice President of
    • Sales, Hoover’s, Inc.
    • Dan Demko, President and Founding Partner,
    • SBTV.com
  • Today’s Agenda: Sales 2.0
    • Evaluate Sales 2.0 Solutions for your business
    • Best Practices for implementing Sales 2.0 technologies
    • Which solutions offer a fast return on investment
    • Keys to transitioning your sales process to be more Sales 2.0-enabled
    Sell Smarter and Win More Business
  • Sales 2.0? “ Sales 2.0 brings together customer-focused methodologies and productivity- enhancing technologies that transform selling from an art to a science.”
  • Sales 2.0 Lead Management Customer Engagement Sales Process Analytics Compensation Management Lead Generation Collaboration Track & Manage Quote & Propose Close & CEM Sales Activity
  • Sales 2.0 is about Acceleration
    • Optimize every phase of the sales funnel by…
    • Prioritize buyers and focus on the most promising prospects
    • Contact the right prospects at the right time
    • Automate lead nurturing to free salespeople from calling on ready prospects
      • … to accelerate sales velocity and volume .
  • Sales 2.0 is about Collaboration
    • Transform into a smarter and better informed sales
    • organization by…
    • Harness the collective intelligence of the sales organization
    • Leverage online collaboration solutions
    • Extract timely and relevant insights from the “Social Media”
    • … to sell more effectively to smarter and better informed
    • prospects.
  • Sales 2.0 is about Professionalization
    • Raise the bar for the “average” sales rep …
    • Adopt repeatable processes
    • Share best practices
    • Deliver real time training
    • … to increase performance throughout the sales organization and deliver predictable results .
  • Sales 2.0 is about Accountability
    • Establish a “Culture of Measurement”…
    • Optimize the “lead-to-opportunity conversion” process
    • Rely on analytics to incent the right behavior in sales at the right time
    • Make decisions based on science, not on hunches
    • … to increase accountability and reduce the cost of sales .
  • Sales 2.0 Transformation at Hoover’s Karen Kennedy Executive Vice President of Sales, Hoover’s Inc. [email_address]
  • Businesses face many challenges
      • need to find profitable new customers with limited resources
      • Inconsistent reporting and limited measurement capabilities
      • Businesses are not cross-selling and up-selling effectively
    Acquire new customers Service and re t ain customers Grow existing customers
  • Sales 2.0* for Hoover’s Process Measurable, Predictable, Customer Centric Strategy Alignment and Resource Allocation People Open, Team-Oriented, Relationship Focused Technology Enabling Tools *Sales 2.0: Improve Business Results Using Innovative Sales Practices and Technology by Anneke Seley and Brent Holloway, John Wiley & Sons, 2009 IMPROVE REVENUE RESULTS
  • Sales 2.0 Accomplishments
    • Professional Development
      • Entire sales organization trained on “other-centered selling”
      • Coach-the-Coach training
      • Use of the methodology is in every sales person and leader’s performance review
    • Complete Redesign of Sales Compensation Plans
      • Every plan has quarterly and annual components
      • Special incentives offered quarterly to move “levers”
  • Sales 2.0 Accomplishments
    • Data Integration for Sales Intelligence reports
      • Purchases File, Contacts File, User File
      • Paid Site Usage File, Duns Segmentation File, Product Details File
    • Created an extensible data model for business intelligence
      • Ensures linkages and flexibility that scales with new data sources and report requirements
      • 10 key business reports that create actionable information for sales teams
  • Hoover’s single customer view
    • With a single customer view, businesses can confidently deliver the right solution to the right customer, maximizing revenue growth while achieving operational efficiencies
  • From Data to Insight Transform External source of trusted information Cleanse Identify Enrich Customer insight Single Customer View Manage Marketing Department The Refresh cycle establishes and maintains processes to ensure that your business information and insight remain up-to-date, accurate, and actionable. Link/Group Maintain/ Steward
  • From Customer Acquisition to Customer Retention
    • Retain customers
    • Get a complete view of the customer
    • Primary target is marketing professionals
    • Grow existing customers
    • Improve customer segmentation and targeting
    • Identify up-sell and cross-sell opportunities
    • Service customers
    • Detect and respond to unhappy customers
    • Increase operational efficiency by improving deliverability of mailings
    • Protect sensitive customer information
    • Acquire new customers
    • Provide quality leads to our customers
    • Primary target is sales professionals
    Optimizer
  • Better reports to take measurable actions
    • Acquisition - increase sales
    • Cross Sell / Up Sell – increase upgrade sales
    • Retention / Customer Satisfaction – increase renewal rate
    • Cost Reduction – reduce costs in unproductive / redundant areas
  • Sales 2.0 allows real time cross selling
    • On a daily basis, find all those accounts who display opportunity
      • Areas of Opportunity:
          • a product or add-on not currently purchased
          • a premium level of service not purchased
          • An expired product
      • Immediately produce an email campaign to offer a “trial” to that service to entice usage
      • After trial period, confirm usage to the service / product via usage data
      • Follow up with an offer for service.
  • Sales 2.0 Real Time Customer Retention
    • Under utilized subscription retention process:
      • Determine accts where there is either a change in usage or a lack of usage.
      • Report:
      • Weekly / monthly check to see those accts where usage falls to <X% of it’s 3 week moving average.
      • All accounts where usage is zero for a given period
      • Create a campaign to contact account to prompt usage.
      • Continue to monitor usage and continue communication of benefits if still underutilized, but maintaining history of prompts
  • Sales 2.0 Lead Matching
    • ‘ Look-a-like’ campaign process:
    • Define “best” customers
    • Combination of tenure, value & product depth and usage
    • Isolate common characteristics of these best customers
    • SIC, geography, revenue, employee size, D&B scores, etc
    • Apply those characteristics as search criteria to the overall D&B
    • universe to create a “hot prospect” list
    • Create campaigns to target these prospects
    • Customized message based on SIC or product specific usage
  • Focus, Improvement, Diligence, Accountability and Integrity
    • Scorecards continue to be introduced into our sales processes
    • Culture of “test & learn”
    • Constant improvement to take us to the next level
    • Very rarely do we reduce resources – they are redeployed
    • Focus on Customer Centric improvements
    • Admit and learn from mistakes
    • Dan Demko
    • President, SBTV.com
    • [email_address]
  • Prospecting
    • Updated lists
    • Prospect Management System
    • Communication database
    • Drip marketing
  • Presentation
    • Overview documents describing your company
    • PPT templates that represent your product
    • Product demos using your website
    • Animated follow-up
  • About SBTV.com
    • SBTV.com is the first and only pure online video news and information resource designed specifically to help small business owners and managers start, grow, protect and manage their business.
    • SBTV.com can go beyond traditional online advertising to creative affordable, effective original content programming. Numerous clients have already experienced how this can assist their campaigns relevance and create additional lift with powerful unique industry targeted content.
    Small Business Television.com SBTV.com Where Small Business is Our Only Business Dan Demko| President | SBTV.com: Where Small Business is our only Business  440 487 8611 cell | 314 533-7288 x21 office |   www.sbtv.com  |  Join Our Community
  • Business Information Sites including Mobile
  • SBTV.com Community Site:
  • Closing
    • Solve a problem
    • Timely responses
    • Make it personal
  • Thank You Dan Demko President, SBTV.com [email_address] Karen Kennedy Executive Vice President of Sales, Hoover’s Inc kkennedy@hoovers.com Gerhard Gschwandtner Publisher & Founder, Selling Power magazine [email_address]