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© 2016 Gryphon Networks Confidential
Separating Hype vs Reality: The Top 3 Sales
Activities that (Really) Predict Revenue
© 2016 Gryphon Networks Confidential
Today’s Presenter
2
Eric Esfahanian SVP of Sales & Marketing
Eric Esfahanian leads Gryphon’s sales, business
development, client services and marketing
teams. He brings over 18 years of experience with
performance optimization and business intelligence
software. He is charged with driving growth of
Gryphon’s global client base with cloud-based sales
intelligence solutions for many of the largest and
highly distributed sales organizations.
© 2016 Gryphon Networks Confidential
Hype? What Hype?
3
© 2016 Gryphon Networks Confidential
The Reality
$26.3B
Spending on CRM
software in 2015
UP 12.3% in 2015
45%
Forecast deals that
are actually won
© 2016 Gryphon Networks Confidential
Before We Begin
5
Accuracy Matters
The more visibility sales managers
have into their sales rep’s calling data
the better they can manage and
ultimately improve the effectiveness
of their teams.
Did You Know?
12% of typical American business’
annual revenue is lost as a direct
result of INACCURATE CRM
DATA
© 2016 Gryphon Networks Confidential
Where CRM Systems Fall Short
Based on subjective data
• Speculative hunches hampered by sales rep optimism
• Manually entered! Often from memory (if at all).
• Report only what sales reps SAY they did
Data only reflects what sales reps report
• Not what a sales rep actually did
• Not how many, how much, or how long
• Not what a sales rep said or how they said it
Reported data is not validated
• Does a deal really have an 80% probability of closing at
the end of the month when last contact was a two-
minute conversation two months ago?
© 2016 Gryphon Networks Confidential
4 Must-Haves to Accurate Sales Forecasting
7
Here are FOUR absolute requirements THAT
you need to have in place to ensure a high
level of accuracy in your sales reporting.
• DATA IS automated
• DATA IS available in real-time
• DATA IS consumable in context
• DATA IS tied to outcomes
8
© 2016 Gryphon Networks Confidential
Sales Activity #1: Calls to Contacts
9
© 2016 Gryphon Networks Confidential
Sales Activity #1: Calls to Contacts
10
• How many call attempts does it take
to initiate a live conversation?
• Raw Activity Output
• Minimum Baseline Metric
• Applicable for all sales functions, not
just telemarketing
© 2016 Gryphon Networks Confidential 11
Why It Matters
• Sales reps are paid for performance
• Outreach for sales and service is an
expectation
• If a rep isn’t generating phone-based
activity, they are not doing their job
• All new revenue progress starts with
selling activity
Sales Activity #1: Calls to Contacts
© 2016 Gryphon Networks Confidential
Sales Activity #2: Call Attempt Frequency
12
© 2016 Gryphon Networks Confidential
Sales Activity #2: Call Attempt Frequency
13
• Persistence is key to success
• Vast majority of sales calls are
dialed 3 or fewer times
• Lead Management and conversion
tracking
Did You Know?
The average salesperson only makes 2
attempts to reach a prospect, but it takes
approximately 7-13 touches to generate a
B2B qualified sales lead.
© 2016 Gryphon Networks Confidential 14
Why It Matters
• Success is directly correlated with numerous attempts on
each number
• 4 x more likelihood of success at 7,8,9th dial
• Dramatic impact on average agent effectiveness
Sales Activity #2: Call Attempt Frequency
© 2016 Gryphon Networks Confidential
Sales Activity #3: Contact / Close Ratio
15
© 2016 Gryphon Networks Confidential
Sales Activity #3: Contact / Close Ratio
16
• Conversational effectiveness
• How many conversations result in close
• Patterns of behavior
• Variables of the definition
© 2016 Gryphon Networks Confidential 17
Why It Matters
• True rep productivity metric
• Who are the leaders
• Control the “lever” of activity
• Work backwards to establish a minimum
activity standard for all reps in a group
• Training and managing to a standard
Sales Activity #3: Contact / Close Ratio
© 2016 Gryphon Networks Confidential
Case Study:
How the Right Sales Activities Impact Your
Revenue
18
© 2016 Gryphon Networks Confidential
How the Right KPIs Impact Your Revenue
19
Context
• A US based home security firm was looking to improve revenue growth through more effective
management and coaching of field and distributed sales teams.
• Sales Leadership began looking for ways to drive accountability among their large, mobile and
highly distributed sales team.
The Challenge
• The company’s selling model relied on a large number of selling agents prospecting via the
telephone
• More Appointments = More Revenue
• Because sales personnel are not centralized in a traditional call center function, management
struggled to effectively gauge sales performance.
• Although they purchased millions of new leads each year, they had no ability to accurately track
lead follow through and end result.
• Agents were expected to self-report the outcomes of every call, but managers had no
quantifiable system in place to determine the accuracy of these reports or whether they were
logging all data with any consistency.
© 2016 Gryphon Networks Confidential
How the Right KPIs Impact Your Revenue
20
The Approach
Via in-network data capture and dashboards providing real-time context, Managers
obtained 100% accurate visibility into their agent’s performance against a several
key metrics and goals
By establishing a baseline of minimal activity for agent population, managers could
finally manage to a standard that was pinned to true effectiveness metrics.
© 2016 Gryphon Networks Confidential
How the Right KPIs Impact Your Revenue
Leads NOT Fully Exhausted - 98% of leads were being called less than three times
and 88% were being called only once.
Persistency is Key - For numbers dialed once, agents only had a 1% chance of
setting an appointment, yet when agents made between 4-8 calls to the same
number, they had a significantly higher chance of setting an appointment.
Minimal Activity Standards– Through the tracking of agents’ calls, Managers were
able to identify exactly who was making their calls and who was not. Less than half
of reps were meeting in the minimum threshold. Staggering impact on revenue
growth.
Call Strategy–Half of company’s growth was projected to come from phone-based
selling and they relied on a strategy of luck and hope. Without accurate activity
capture, there could be no strategy to calling across the organization.
21
Results:
With access to agents’ call activity and outcomes, Managers had enough insight to make
meaningful decisions that really improved average effectiveness.
© 2016 Gryphon Networks Confidential
How the Right KPIs Impact Your Revenue
22
Top Performers/Bottom Performers – Using the leaderboard, Managers
quickly identified their top agents, offices and regions by KPIs of call activity
categories over a day, month, week, bridging the visibility gap for managers
and encouraging competition between reps and offices.
© 2016 Gryphon Networks Confidential
The Value of Improved Effectiveness
$12MM
Estimated monthly improvement in
appointment setting leading to upsell or
cross-sell conversions
© 2016 Gryphon Networks Confidential
Hiring, Onboarding and Training
50%
Savings in time & cost of
evaluating staff performance,
likelihood of long-term success for
acquisition personnel
© 2016 Gryphon Networks Confidential
Increased Customer Retention
4%Increased retention due to managing
touchpoints at regular intervals. Build
one-to-one relationships.
© 2016 Gryphon Networks Confidential
Bonus: How to Achieve Ninja-level Sales
Management
26
© 2016 Gryphon Networks Confidential
Manage Quality of Phone-Based Performance
Business Rules & Audit
Manual Activity Logs OpportunitiesVisible
The high mobility of
sales reps make them
difficult, if not
impossible to monitor.
If you can’t see it, how
can you affect it?
Invisible Pattern Recognition
Voice Conversations
Training Issues
Bad practices
Poor Lead Mgmt.
Success Criteria
Inbound/Outbound Phone Communications
© 2016 Gryphon Networks Confidential
Then
• Call Centers
• Resource Intensive - $$
• Fixed Hardware Software
Now
• Secure Cloud Enabled
• User-level access from any device
• Targeted and Adaptable
Call Recording & Analytics
28
© 2016 Gryphon Networks Confidential
The Real Power of Targeted Speech Analytics
14.5%
Y-o-Y Drop in Sales
Quota Attainment in
2015
4X
Cross-selling and
upselling
effectiveness for SA
users vs non users
Aberdeen 2015
© 2016 Gryphon Networks Confidential
Speech Analytics Help Managers Manage
30
Patterns of Behavior that Work (and don’t)
• Speech analytics can help managers learn
why some calls convert and others don’t,
and why some agents perform better than
others
• Companies have the ability to set keywords
or phrases that trigger push notifications to
immediately alert managers of a conversion.
© 2016 Gryphon Networks Confidential 31
Rep Confidence
• When recording every call agents make,
speech analytics listens for acoustic
indicators like hesitation, overuse of
crutch words (like, you know, ummm) that
are coachable opportunities for new or
developing reps.
Speech Analytics Help Managers Manage
© 2016 Gryphon Networks Confidential 32
Emotion Alerts
When it’s not the specific words that are
causing agents to miss opportunities, but
rather their emotional state or their reactions
to the emotional state of a prospect, call
recording with speech analytics can capture
otherwise completely unattainable data.
Tone, rate of speech, volume, and silence
percentage are all valuable clues as to how
an agent interacts with a lead and what
additional training might be necessary to
improve that agent’s outcomes.
Script adherence and liability issues too.
Speech Analytics Help Managers Manage
© 2016 Gryphon Networks Confidential
Accuracy Matters - Key to A Highly Effective Sales Team
33
The Three C’s:
• Culture
• Consistency
• Continuous Improvement
© 2016 Gryphon Networks Confidential
www.learn.gryphonnetworks.com/sp/
866-366-6822
Want To Learn More
© 2016 Gryphon Networks Confidential
Questions and Answers
35

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Top 3 Sales Activities that Predict Revenue

  • 1. © 2016 Gryphon Networks Confidential Separating Hype vs Reality: The Top 3 Sales Activities that (Really) Predict Revenue
  • 2. © 2016 Gryphon Networks Confidential Today’s Presenter 2 Eric Esfahanian SVP of Sales & Marketing Eric Esfahanian leads Gryphon’s sales, business development, client services and marketing teams. He brings over 18 years of experience with performance optimization and business intelligence software. He is charged with driving growth of Gryphon’s global client base with cloud-based sales intelligence solutions for many of the largest and highly distributed sales organizations.
  • 3. © 2016 Gryphon Networks Confidential Hype? What Hype? 3
  • 4. © 2016 Gryphon Networks Confidential The Reality $26.3B Spending on CRM software in 2015 UP 12.3% in 2015 45% Forecast deals that are actually won
  • 5. © 2016 Gryphon Networks Confidential Before We Begin 5 Accuracy Matters The more visibility sales managers have into their sales rep’s calling data the better they can manage and ultimately improve the effectiveness of their teams. Did You Know? 12% of typical American business’ annual revenue is lost as a direct result of INACCURATE CRM DATA
  • 6. © 2016 Gryphon Networks Confidential Where CRM Systems Fall Short Based on subjective data • Speculative hunches hampered by sales rep optimism • Manually entered! Often from memory (if at all). • Report only what sales reps SAY they did Data only reflects what sales reps report • Not what a sales rep actually did • Not how many, how much, or how long • Not what a sales rep said or how they said it Reported data is not validated • Does a deal really have an 80% probability of closing at the end of the month when last contact was a two- minute conversation two months ago?
  • 7. © 2016 Gryphon Networks Confidential 4 Must-Haves to Accurate Sales Forecasting 7 Here are FOUR absolute requirements THAT you need to have in place to ensure a high level of accuracy in your sales reporting. • DATA IS automated • DATA IS available in real-time • DATA IS consumable in context • DATA IS tied to outcomes
  • 8. 8
  • 9. © 2016 Gryphon Networks Confidential Sales Activity #1: Calls to Contacts 9
  • 10. © 2016 Gryphon Networks Confidential Sales Activity #1: Calls to Contacts 10 • How many call attempts does it take to initiate a live conversation? • Raw Activity Output • Minimum Baseline Metric • Applicable for all sales functions, not just telemarketing
  • 11. © 2016 Gryphon Networks Confidential 11 Why It Matters • Sales reps are paid for performance • Outreach for sales and service is an expectation • If a rep isn’t generating phone-based activity, they are not doing their job • All new revenue progress starts with selling activity Sales Activity #1: Calls to Contacts
  • 12. © 2016 Gryphon Networks Confidential Sales Activity #2: Call Attempt Frequency 12
  • 13. © 2016 Gryphon Networks Confidential Sales Activity #2: Call Attempt Frequency 13 • Persistence is key to success • Vast majority of sales calls are dialed 3 or fewer times • Lead Management and conversion tracking Did You Know? The average salesperson only makes 2 attempts to reach a prospect, but it takes approximately 7-13 touches to generate a B2B qualified sales lead.
  • 14. © 2016 Gryphon Networks Confidential 14 Why It Matters • Success is directly correlated with numerous attempts on each number • 4 x more likelihood of success at 7,8,9th dial • Dramatic impact on average agent effectiveness Sales Activity #2: Call Attempt Frequency
  • 15. © 2016 Gryphon Networks Confidential Sales Activity #3: Contact / Close Ratio 15
  • 16. © 2016 Gryphon Networks Confidential Sales Activity #3: Contact / Close Ratio 16 • Conversational effectiveness • How many conversations result in close • Patterns of behavior • Variables of the definition
  • 17. © 2016 Gryphon Networks Confidential 17 Why It Matters • True rep productivity metric • Who are the leaders • Control the “lever” of activity • Work backwards to establish a minimum activity standard for all reps in a group • Training and managing to a standard Sales Activity #3: Contact / Close Ratio
  • 18. © 2016 Gryphon Networks Confidential Case Study: How the Right Sales Activities Impact Your Revenue 18
  • 19. © 2016 Gryphon Networks Confidential How the Right KPIs Impact Your Revenue 19 Context • A US based home security firm was looking to improve revenue growth through more effective management and coaching of field and distributed sales teams. • Sales Leadership began looking for ways to drive accountability among their large, mobile and highly distributed sales team. The Challenge • The company’s selling model relied on a large number of selling agents prospecting via the telephone • More Appointments = More Revenue • Because sales personnel are not centralized in a traditional call center function, management struggled to effectively gauge sales performance. • Although they purchased millions of new leads each year, they had no ability to accurately track lead follow through and end result. • Agents were expected to self-report the outcomes of every call, but managers had no quantifiable system in place to determine the accuracy of these reports or whether they were logging all data with any consistency.
  • 20. © 2016 Gryphon Networks Confidential How the Right KPIs Impact Your Revenue 20 The Approach Via in-network data capture and dashboards providing real-time context, Managers obtained 100% accurate visibility into their agent’s performance against a several key metrics and goals By establishing a baseline of minimal activity for agent population, managers could finally manage to a standard that was pinned to true effectiveness metrics.
  • 21. © 2016 Gryphon Networks Confidential How the Right KPIs Impact Your Revenue Leads NOT Fully Exhausted - 98% of leads were being called less than three times and 88% were being called only once. Persistency is Key - For numbers dialed once, agents only had a 1% chance of setting an appointment, yet when agents made between 4-8 calls to the same number, they had a significantly higher chance of setting an appointment. Minimal Activity Standards– Through the tracking of agents’ calls, Managers were able to identify exactly who was making their calls and who was not. Less than half of reps were meeting in the minimum threshold. Staggering impact on revenue growth. Call Strategy–Half of company’s growth was projected to come from phone-based selling and they relied on a strategy of luck and hope. Without accurate activity capture, there could be no strategy to calling across the organization. 21 Results: With access to agents’ call activity and outcomes, Managers had enough insight to make meaningful decisions that really improved average effectiveness.
  • 22. © 2016 Gryphon Networks Confidential How the Right KPIs Impact Your Revenue 22 Top Performers/Bottom Performers – Using the leaderboard, Managers quickly identified their top agents, offices and regions by KPIs of call activity categories over a day, month, week, bridging the visibility gap for managers and encouraging competition between reps and offices.
  • 23. © 2016 Gryphon Networks Confidential The Value of Improved Effectiveness $12MM Estimated monthly improvement in appointment setting leading to upsell or cross-sell conversions
  • 24. © 2016 Gryphon Networks Confidential Hiring, Onboarding and Training 50% Savings in time & cost of evaluating staff performance, likelihood of long-term success for acquisition personnel
  • 25. © 2016 Gryphon Networks Confidential Increased Customer Retention 4%Increased retention due to managing touchpoints at regular intervals. Build one-to-one relationships.
  • 26. © 2016 Gryphon Networks Confidential Bonus: How to Achieve Ninja-level Sales Management 26
  • 27. © 2016 Gryphon Networks Confidential Manage Quality of Phone-Based Performance Business Rules & Audit Manual Activity Logs OpportunitiesVisible The high mobility of sales reps make them difficult, if not impossible to monitor. If you can’t see it, how can you affect it? Invisible Pattern Recognition Voice Conversations Training Issues Bad practices Poor Lead Mgmt. Success Criteria Inbound/Outbound Phone Communications
  • 28. © 2016 Gryphon Networks Confidential Then • Call Centers • Resource Intensive - $$ • Fixed Hardware Software Now • Secure Cloud Enabled • User-level access from any device • Targeted and Adaptable Call Recording & Analytics 28
  • 29. © 2016 Gryphon Networks Confidential The Real Power of Targeted Speech Analytics 14.5% Y-o-Y Drop in Sales Quota Attainment in 2015 4X Cross-selling and upselling effectiveness for SA users vs non users Aberdeen 2015
  • 30. © 2016 Gryphon Networks Confidential Speech Analytics Help Managers Manage 30 Patterns of Behavior that Work (and don’t) • Speech analytics can help managers learn why some calls convert and others don’t, and why some agents perform better than others • Companies have the ability to set keywords or phrases that trigger push notifications to immediately alert managers of a conversion.
  • 31. © 2016 Gryphon Networks Confidential 31 Rep Confidence • When recording every call agents make, speech analytics listens for acoustic indicators like hesitation, overuse of crutch words (like, you know, ummm) that are coachable opportunities for new or developing reps. Speech Analytics Help Managers Manage
  • 32. © 2016 Gryphon Networks Confidential 32 Emotion Alerts When it’s not the specific words that are causing agents to miss opportunities, but rather their emotional state or their reactions to the emotional state of a prospect, call recording with speech analytics can capture otherwise completely unattainable data. Tone, rate of speech, volume, and silence percentage are all valuable clues as to how an agent interacts with a lead and what additional training might be necessary to improve that agent’s outcomes. Script adherence and liability issues too. Speech Analytics Help Managers Manage
  • 33. © 2016 Gryphon Networks Confidential Accuracy Matters - Key to A Highly Effective Sales Team 33 The Three C’s: • Culture • Consistency • Continuous Improvement
  • 34. © 2016 Gryphon Networks Confidential www.learn.gryphonnetworks.com/sp/ 866-366-6822 Want To Learn More
  • 35. © 2016 Gryphon Networks Confidential Questions and Answers 35