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Everything you want to know about sales growth but are afraid to ask

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Four secrets of sales leaders determine how effective they will be: selling the way customers want to buy; digital sales; make building smart analytics the norm; and bring together an A-team. From 2016 Dreamforce presentation by McKinsey's Lareina Yee and Maria Valdivieso de Uster.

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Everything you want to know about sales growth but are afraid to ask

  1. 1. #DF16 #SalesSummit salesforce.com/sales-summit Everything You Want to Know About Sales Growth but are Afraid to Ask Lareina Yee Maria Valdivieso Lareina_Yee@McKinsey.com Maria_Valdivieso@McKinsey.com @M_Valdivieso1@LareinaYee
  2. 2. #SalesSummit #DF16 75% of global consumption growth will be driven by individuals spending more (vs. population growth) by 2030 18% Proportion of digital potential that the U.S. economy as a whole is realizing >1.5 billion number of social networking users globally $11.1 trillion Estimated economic value from linking digital and physical worlds by 2025 4.7% Expected annual growth for emerging markets through 2025 45% Proportion of activities people are paid to perform that could be automated
  3. 3. #SalesSummit #DF16 1. Sell the way customers want to buy 4. Put together the A-team 3. Build smart analytics as a norm 2. Power growth through digital sales 1. Sell the way customers want to buy 2. Power growth through digital sales 3. Build smart analytics as a norm 4. Put together the A-team
  4. 4. #SalesSummit #DF16 The sales experience is changing dramatically 60% increased purchasing centralization to get better negotiating leverage 2x Speed is 2x more important than price in a buying experience 46% of buyers rate comparison as their biggest pain point 6+ different channels for purchasing 85% of B2B buyers prefer Digital GTM for purchase of exact same product 74% use Twitter for business 70% use online video to understand suppliers 43% B2B customers would purchase, self- directed, on supplier’s website 90% use search to make buying decisions • Digital changing how customers research and buy • Proliferation of channels to meet customer varying needs and occasions • Rising expectation of personalized experience • From companies to individuals
  5. 5. #SalesSummit #DF16 Meet me where it matters . . .
  6. 6. #SalesSummit #DF16 B2B companies that embed Digital GTM do better… 40-60% Reductions in cost to serve …but most struggle <10% of B2B companies say they have a compelling mobile strategy – 3X lower than top- performing B2C companies 10% said digital GTM was a top investment priority <15% of B2B companies use test-and-learn approaches that accelerate how to prioritize digital <20% of B2B companies say they understand key omni channel journeys 13.5% EBITDA growth (vs -1.8% for less digitally able) 30% Higher acquisition efficiency 5x Faster growth rates B2B companies that embed digital go-to-market do better…
  7. 7. #SalesSummit #DF16 Five sources of value from digital go-to-market Grow customer base Increase value and retention of current customers Reduce cost to serve Ramp up and scale offerings faster Pre-empt competitive disruption
  8. 8. #SalesSummit #DF16 Five sources of value from digital go-to-market
  9. 9. #SalesSummit #DF16 How fast growth companies use analytics: 76% to identify opportunities for specific customers (vs. 59%) 73% to gain deal-level insights, such as profitability (vs. 61%) 53% to make decisions (vs. 37%) 76% to manage post- sales accounts (vs. 56%) How fast-growth companies use analytics:
  10. 10. #SalesSummit #DF16 Build a technological advantage in sales: AI - Lead generation Pairing predictive lead analytics with natural language processing to automate many of the early lead-generation activities Smart partner portal rapid responses to partner requests, such as new business price requirements Next product to buy CRM recommendation based on customers’ needs and company’s strongest value proposition Predictive pipeline analytics increase the accuracy of pipeline prediction by 2-3x using big data analysis, resulting in cost reduction and increase in sales
  11. 11. #SalesSummit #DF16 48% spend significant resources on sales force training (vs. 29%) 51% believe they have the right sales talent and capabilities (vs. 33%) 38% bring new hires to steady state productivity as quickly as possible 39% use tailored training programs by sales role (vs. 22%) Fast growers invest in their people
  12. 12. #SalesSummit #DF16 Selling outcomes is a different game High Medium Drivers of performance Skills Curiosity ProactivityOpennessExtraversion 85 767871 60 556562 Resource management Product knowledge Understand- ing customer needs Prospecting Intrinsics
  13. 13. #DF16 #SalesSummit salesforce.com/sales-summit Stay connected Lareina Yee Senior Partner, San Francisco Lareina_Yee@mckinsey.com @LareinaYee McKinsey on Marketing & Sales Maria Valdivieso de Uster Director of Knowledge, Americas M&S, Miami Maria_Valdivieso@mckinsey.com @M_Valdivieso1

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