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Sales Codification: Work Smarter. Not Harder.

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  • How much is your top salesperson worth? According to Michael Mankins (partner at Bain Consulting), 4X the average performer. Average performers looks for other average performers, as they don’t want to rock the boat.
  • To do nothing is within the power of all men.” -Samuel Johnson

    Most real decisions, unlike those of economics texts, have status quo alternative – that is, doing nothing or maintaining one’s original position.
  • oDesk takes 10%, freelancer takes 90% (early stages 20-30% during initial stages)

    English language $2-5 per hour, French locals, Japanese minimum wage

    Google 2000 or more

Transcript

  • 1. 1 Sales Codification Work Smarter. Not Harder.
  • 2. Daniel Barber Director, Sales Development & Operations ToutApp, Inc. @Gaijindan
  • 3. Your Team – Power-Law Distribution Your Audience – Status Quo Bias Technology: Listen. Engage. Persist. – Knowledge Workers Social Randomness – Social Proximity vs. Random Agenda 3
  • 4. People follow a Bell Curve, right? (NormalDistributionforthoseofyoucan’trememberStats101) 4
  • 5. Wrong. 94% of people don’t follow a Bell Curve. Source: Ernest O’Boyle Jr., Herman Aguinis - Revisiting the Norm of Normality of Individual Performance.
  • 6. Coach to the curve Power-Law Distribution 6 Sources: Josh Bersin, The Myth of the Bell Curve, February 2014; Michael Mankins; How to Hire More Top Performers, May 2014
  • 7. Your Audience Push vs. Pull 7
  • 8. – Company gets acquired – Competitor releases new product/solution – Incumbent sales rep leaves – Prospect changes decision maker – Prospect wins large account – increased capital availability – Capital raise How do you stop the inertia? Status Quo Bias 8 Sources: Status Quo Bias in Decision Making – Journal of Risk and Uncertainty, Harvard, 1988; Jamie Shanks, AA-ISP Conference, February 5th, 2013
  • 9. Technology Listen. Engage. Persist. 9
  • 10. What’s the cost of your time?
  • 11. 11 # of Supported Reps x Rep Quota / Working Hours
  • 12. $3,800+/hr. (asmp. 500K quota) Knowledge Workers 12 Data.com vs. oDesk – 60% vs. 80+% accuracy Intern vs. outsource – What’s the experience? IT Security – Encrypted Google Document
  • 13. Social Randomness Territory Management 2.0 13
  • 14. Accounts follow the Pareto’s Principle, right? (Hopefullyyoucaughttheearliertip,butifnot,thinkbacktoStats101) 14
  • 15. Right. 20% of activity brings in 80% of the desired result. Source: Ernest O’Boyle Jr., Herman Aguinis - Revisiting the Norm of Normality of Individual Performance.
  • 16. Who’s in your 25%? Quartile Development Step 1: Know your customer – LinkedIn Function, Datanyze, BuiltWith, SimilarWeb, import.io, etc. Step 2: Introducing the Random Function, adjust for standard deviation, mean, median and quartile breakdown Step 3: Upload your clean data with SFDC data wizard Step 4: Prioritize your outreach – 5X5 programs for your bottom 25%
  • 17. e: daniel@toutapp.com t: @gaijindan