Sales management


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Overview of sales and funnel management

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  • Win plan should be used to Define the overall plan and strategyCheck the time and cost to win the dealCheck the probability and strategic alignmentGet the whole team onto the key messages about your solution (also defines your elevator pitch)
  • Sales management

    1. 1. Funnel Management and
    2. 2. Objectives of Funnel ManagementObjective is to manage a sales funnel that will provide • High win rate without your sales teams only picking easy deals • Ensure a strong funnel to target future growth • Monitor the expense to revenue of deals and win cost. • Make sure the deals being identified are aligned with your strategy • Identify development areas in your sales teams • Clear measurable targets • Measure of strategy performance and projection for potential investors • Alignment of sales teams and performance management • Early warning system for changes in the market or customer base • Spot changes in competitors and customer behaviors
    3. 3. Sales Performance is a consequence of effective sales management Stream lined process / Simple Sales Management Customer Centric DNA Measurability Measurement, creation and Strategic Measures mechanisms that produce Clear Sales Process and Sales Management effects on sales performance Critical Levers Targets for profitability Delivery models and executions Sales Performance Measurability Statistical metrics defining the Tactical Measures achievement against sales Dashboard Level Communications strategy and goals Transparency Cross Organisation Reporting (Uniform Structure)
    4. 4. Proposal of Introduction 1• Define data collection 2• Implement Sales clean up • Develop KPI measures and program to update top 30 deals guidelines with current data. • Clear gate structure for deal flow • Assess current Sales funnel against new defined targets. 3• Create required dashboards and 4• Implement into Sales force to reporting structure via excel. remove manual work with excel. • Implement change management on sales management process. • See whats working and whats not.
    5. 5. Sample Analysis of MetricsAnalysis Description Strengths Weakness How to manageWin Rate % of deals moving Clear performance of sales Too much focus will Only useful when through the Funnel people and decision making lead to not pursuing compared to funnel fill with a successful can be measured. all deals only high win rate and gate stages. outcome probability deals.Funnel Fill Speed and Types of Shows based on win rate a Easy one to Clear metrics for FillRate revenue entered into good projection of future manipulate through rate, by gate for each the funnel. revenue and flow of dumping product. Include a opportunities. opportunities or over funnel Multiplier. playing them.Sales Stage What stage between Good KPI for understanding Is a very broad area Constant analysis of identification and issues in the sales cycle ie so detailed key deal and program win/loss is the deal training, sales material if conclusions cannot through the cycle. Win consistent failing at same level/ be achieved. Only templates and other or success trend analysis so plans are good. needs good quality data.Quality Identify areas where Shows the level of engagement Vague KPIIssues – consistent gaps in in sales planning. ShouldIncomplete data always be little and often.Data.Quality Opportunities left to Should be a living tool, Could be a long dealIssues – rot in Funnel Hell opportunities should not be cycle.Unchanged left unchanged for extended
    6. 6. Sales Incentive Schemes Principles of Incentive Schemes Recognition• Simplicity - Employee of the month• Focus on high performers - High Performers Club• Performance management and transparency• 5% Exceptional / 15% Outstanding / 60% - Wall of Fame Valued / 20% Need Improvement - CEO Phone Call/Lunch• Strong Communication and Guidelines for expectations.• Team and Individual Mix Environmental• Recognition is critical and acknowledgement - Office Activities programme - Technology / IT• Everyone needs to improve, some more than others.• Poor performers have a negative impact on high performers, not the other way around. Structured• Intuitive - Financial Performance• Regular Frequency to change engagement - Unlimited Holiday behavior over shorter periods of time. - Personal Performance / Equity
    7. 7. Minimum Data Entry Per OpportunityBasic Data• Opportunity Name• Opportunity Ref {System Generated}• Customer• Customer Group [Drop Down Defined Field] Mandatory Information for• Country Every opportunity• Region• Opportunity Owner• Business Unit [Pre defined fields]• Win Probability• Sales Stage• Competitors 1,2,3• Deal Value You should then have an• Order Intake [Expected date of PO] option in this last stage to• Revenue Recognition Date [Qtr or Week add a win plan or deal based on overview 2 years] overview for the next• Actions to next Stage steps.
    8. 8. Sales Process – Gate Summary Assess Develop Develop Prepare Pre Gate 2 Business Customer Strategy Presales Potential Relationship Qualify Create Win Evaluate Allocate Pre Gate 3 Opportunity Plan Probability Sales Budget Position Submit Offer Create potential Respond to Gate 4 Capable of Proposal Proposal with RFx Acceptance Customer Position Sign/Agree Win/Loss Gate 5 Proposal with Negotiate Contract Analysis customer
    9. 9. Sales Process Gate 1 Prospecting and Lead Generation Gate 2 Lead Qualification and Evaluation Gate 3 is where we commit to the deal, presales investment is Gate 3 key – focus here is understanding the overall fit for the deal incl. timeline and ROI. Intensive customer engagement to close the deal and present Gate 4 the offer. Gate 5 Negotiation, contract closure, Win/Loss Analysis
    10. 10. Relationship Planning Template Strategic Meeting Priority and Next Steps Owner Deadline NAME Title NAME Title NAME Title NAME Title
    11. 11. Global v Regional ModelReview and Recommend improvements to sales training schemes. Arrange and Facilitate an Regional Specific annual London based global Programmes sales conference. • SpecificCreate and Oversee the implementation of sales Recruit/Motivate high performing sales staff teams/productcoaching and mentoring performance • Focus on best inReview and consult on global sales teams practices and Devise, Implement and revisetechniques. sales incentive schemes class • Laser programmes for specific issuesAdvise on sales improvements to other functions pivotal to overall business performance i.e KAM • Tiger teams. Global BaselineStrategy Funnel Management – System focus Accounting/Billing & Inventory • End 2 End FocusImplementation preference Management • Compromise on bestDelivery Structure/Map Customer Relationship Marketing and Branding in class for globalProcesses Management coverage.Knowledge sharing / best practice model and process (Intranet / P&G Example) • Key data management and IT Systems
    12. 12. Recommendations• Define clear classifications for product/solution types and customer engagements• Next steps need to have actual actions clearly understood and a delivery date.• All data fields need to be complete, data quality is critical• Expansion of Fields required to include the minimum data requirements.• Targets for funnel fill rate per product/solution type per region included fixed within SF• Define a clear gate structure in sales process to ensure the poor deals and removed quickly and sales process is efficient.• Create a definition and understanding of key terms such a “lead” and when does a “lead” become a prospect.• Request detail quality performance KPI for opportunity as different quality issues highlights a different behavior issue with the sales teams.
    13. 13.