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Sales Process Webinar: The Truth About Sales Methodologies: Why Reps Don’t Adopt Them and What to Do About It
 

Sales Process Webinar: The Truth About Sales Methodologies: Why Reps Don’t Adopt Them and What to Do About It

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Hear how best-in-class sales forces are redesigning their sales processes and tools so that they map to the changed buyer landscape. A webinar by Matt Sharrers, Principal at Sales Benchmark Index. ...

Hear how best-in-class sales forces are redesigning their sales processes and tools so that they map to the changed buyer landscape. A webinar by Matt Sharrers, Principal at Sales Benchmark Index. Learn how to:
Decrease the average sales cycle length, Increase the average deal size, especially for new customer logo accounts, Improve your win rate against the competition, Increase the close rate of your qualified leads into customers, Improve forecasting accuracy and Ensure your CRM system facilitates adoption of your sales methodology.

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  • Sales Process, Sales Methodology, Sales Rep, Sales Management, Sales Rep Adoption, Buyer Process, Seller Process, Exit Criteria
  • Contact us if you would like to understand how you can get your sales reps to adopt sales methodologies.Email - info@salesbenchmarkindex.comPhone - 1-888-556-7338Web: http://www.salesbenchmarkindex.com

Sales Process Webinar: The Truth About Sales Methodologies: Why Reps Don’t Adopt Them and What to Do About It Sales Process Webinar: The Truth About Sales Methodologies: Why Reps Don’t Adopt Them and What to Do About It Presentation Transcript

  • Website Email Phonewww.salesbenchmarkindex.com info@salesbenchmarkindex.com 1-888-556-7338 Sales Process: The Truth About Sales Methodologies: Why Reps Don’t Adopt Them and What to Do About It Are you ready to be world class?
  • Matt Sharrers Brief Bio • Principal at Sales Benchmark Index • VP of Sales at Fortune 500 company • Author of Promoted to VP of Sales: The Year 1 Toolkit • Featured speaker on XM radio, National Speakers Association • Industry thought leader with more than 15 years of business experience2
  • Overview Questions you need to answer  How can you get your sales reps to adopt the sales methodology?  How has the buying process of your customer changed?  How can you accurately map the buying process of your customer?  How can you ensure your CRM system facilitates adoption of your sales methodology?  How can you ensure your sales management team is coaching and reinforcing your sales methodology?3
  • Sales Methodology Goal • Shorten sales cycle • Improve win rates • Increase average selling price • Improve forecast accuracy4
  • The Buyer/Seller Mismatch – Traditional sales processes are centered around the seller, who attempted to dictate the pace – The buyer has different plans, and now they can dictate the pace Seller’s Plan 4. 5. 3. 6. 1. 2. Identify Confirming Confirming 7. Determining Finalizing 8. ClosingProspecting Opportunity Vision Value and Negotiating Problems Plan Match Power ≠ Buyer’s Plan1. Recognize 2. Identify 3. Evaluate 4. Resolve 5. Purchase Needs Requirements Options Concerns Solution5
  • Sales Process: Misaligned Exit Criteria Sales Cycle Determining Confirming Confirming Finalizing Opportunity Prospecting Differentiated Vision Value and Mutual Negotiating Closed Identified Problems Match Power PlanSales Exit Criteria First Meeting Pain, Timeline, Discovery, Sch Demo, Summar Reference Close Call Decision edule Demo y of Findings Called, Complete, Criteria Activant Ask Order Preferred, Propos al Review Needs Explore Resolve Catalyst Purchase Recognition Options Concerns Buyer Exit Criteria Recognize Clear Vision of Solution Preferred Solution Risks Considered Issue Order Problem Identified Buying Cycle6
  • Buying Process Comparison Transactional Consultative Enterprise Commodity/Standard Differentiated/Customizable Strategic/Low Substitutability Service Service Service Traits Known, Static Scaling Requirements Embedding Requirements Requirements (Functional Scope Increase) (Business Objectives Scope (Geographical Scope Increase) Increase)Buying Price/Ease of Acquiring Solution Fit/Price- Platform & Values fit;Criteria Performance Tradeoff Sustainable; Return on effortTimeline One-time Event Purchasing Stream Strategic PlanRelation- Cost-based buyer-seller Benefits-based client- Trust-based business partners; ship transactional advisor cooperative Insider; Both parties changeSuccess Must meet decision Must access influencers Must access strategy level maker Nature Execute the deal Problem solve Agenda setting; blurred boundaries between buyer & seller7
  • 2. Identify1. Recognize Needs 3. Evaluate Options 4. Resolve Concerns 5. Purchase Solution RequirementsDefinition – Identify the prospect’s corporate capabilities required to fulfill the needSteps Sales Aids1. Conduct Internal Account Planning Internal2. Review Discovery & Insight Plan with Prospect 1. Opportunity Assessment (MI #4) (updated)3. Perform Discovery and Insight Work 2. Win Plan (updated)4. Dry Run on Findings (MI #5)5. Present Discovery Findings (MI #6) External6. Visual Presentation of Pricing Techniques (MI #7) 1. Sub-Industry Standard Demo7. Project Sponsor Meeting (MI #8) 2. Opportunity Map8. Insert Business Requirements into a Prospect- 3. Evaluation Plan (updated) Friendly Format (MI #9) 4. Value Case (Part 2)9. Present Time to Value Theme (MI #10)10. Internal Meeting to discuss Deal #1 ScopeExit Criteria: Business Requirements Document (BRD) in Prospect-Friendly Format8
  • Job Aids9
  • Job Aids10
  • Key Metrics Comparison Positives Negatives • ASP grew on new logos • ASP on new projects down • Sales Cycle Length dropped on both 50% types • Potentially due to smaller • Number of deals in same 6 month add on deals time frame grew 68% (Training, audits)11
  • SM Suggested Weekly Cadence Monday Tuesday Wednesday Thursday Friday AM AM AM AM AM Weekly Update Office: Meeting (1 hour) Sales Process Topic • Deal Reviews Training Meeting • Inspect SFDC • 1:1 Debriefs Field Rides Focusing Field Rides Focusing • Retention Call − 15 Minute Prep on Sales Process on Sales Process • Other Internal − 30 Minute Topics Topics Calls Execution (Travel) PM PM PM PM PM Office Office: Office: • Deal Approval • Recruiting • 1:1 Debriefs • Internal Calls • Deal Reviews • Reactive • Review Pipeline • Emails Field Rides Focusing Customer Calls Field Rides Focusing • Internal Calls on Sales Process • Emails on Sales Process • Deal Approvals Topics Topics (Travel) (Travel) KEY Red: Mandatory Orange: Recommended12 Black: Minimize time spent
  • Sales Management Reinforcement 1. Separate team selling from skill building 2. Regular cadence 3. On purpose coaching vs. sporadic visits 4. Coach through the lens of the methodology 5. Questions vs. statements 6. Call to Action from the rep13
  • Sales Methodology Questions 1. Have you mapped your buying process? 2. Have you measured sales cycle length, win rates and average selling price? 3. Have you measured your forecasting accuracy? 4. Have you embedded your sales methodology into your CRM system? 5. Have you prescribed a coaching cadence to drive reinforcement of your sales methodology?14
  • Q&A with Matt Sharrers15
  • Further interest… Email - info@salesbenchmarkindex.com or call 1-888-556-7338 for a free sales methodology consultation. Additional questions can be sent directly to Matt Sharrers at matt.sharrers@salesbenchmarkindex.com Sign up for the next webinar “Instant Improvements for Segmenting Your Accounts - How to Determine the Real Potential of Your Territory” at : SalesBenchmarkIndex.com or by going to bit.ly/seg-acct16