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Top 3 Mistakes Building Outbound Sales

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What mistakes to sales leaders most often encounter when building outbound sales teams and models? Liz Cain, Partner at OpenView, and former sales leader at NetSuite, explains.

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Top 3 Mistakes Building Outbound Sales

  1. 1. Liz Cain Rainmaker 2018 TOP 3 MISTAKES BUILDING OUTBOUND
  2. 2. Proprietary and Confidential ©2018 OpenView Advisors, LLC. All Rights Reserved 2 “Companies were investing massive amounts in building high-touch teams that operated in far-flung offices. We broke that mold—mostly because we couldn’t afford to follow it in the traditional way—and proved that telesales could win a high close rate at one-third the cost and in one-third the amount of the time as the traditional selling model.” Mark Benioff CEO, Salesforce 1999 - Present
  3. 3. Proprietary and Confidential ©2016 OpenView Investments, LLC. All Rights Reserved 3 and modern inside sales was born.
  4. 4. Proprietary and Confidential ©2016 OpenView Investments, LLC. All Rights Reserved 4 I’m going to let you in on a secret…
  5. 5. Proprietary and Confidential ©2016 OpenView Investments, LLC. All Rights Reserved 5 …everyone sucks at outbound.
  6. 6. Proprietary and Confidential ©2018 OpenView Advisors, LLC. All Rights Reserved 6 TOP 3 MISTAKES BUILDING THE OUTBOUND MODEL What most often goes wrong when building the outbound sales model? You don't know your top segments. You don’t run experiments, you pivot. You are pitching too early in the buyer’s journey.
  7. 7. Proprietary and Confidential ©2016 OpenView Investments, LLC. All Rights Reserved 7 You don’t know your top segments. 1
  8. 8. Proprietary and Confidential ©2016 OpenView Investments, LLC. All Rights Reserved 8 SEGMENT A group of customers that can be addressed with the same product and the same go-to-market strategy
  9. 9. Proprietary and Confidential ©2016 OpenView Investments, LLC. All Rights Reserved 9 We haven’t segmented our market yet because we believe that anybody could be a customer. We don’t want to turn people away. “
  10. 10. Proprietary and Confidential ©2018 OpenView Advisors, LLC. All Rights Reserved 10 WHEN YOU DON’T FOCUS, BAD THINGS HAPPEN Lack of coordination and alignment. Incoherent messages to the market. Inefficiency of time and resources.
  11. 11. Proprietary and Confidential ©2016 OpenView Investments, LLC. All Rights Reserved 11
  12. 12. Proprietary and Confidential ©2016 OpenView Investments, LLC. All Rights Reserved 12 REVIEW • Where are your leads coming from today? • What is your win rate, average deal size, time to close, retention, etc. with different industries, countries, buyers and company sizes? VALIDATE • How large are those markets? • Where are competitors focused and how can you differentiate? • Where is the product mission-critical? EXPERIMENT • Run campaigns with your SDR team within target verticals • Align SDR campaigns with targeted marketing (events, digital ads, content, case studies) 3 tips for segmenting your market
  13. 13. Proprietary and Confidential ©2016 OpenView Investments, LLC. All Rights Reserved 13 You don’t run experiments, you pivot. 2
  14. 14. Proprietary and Confidential ©2016 OpenView Investments, LLC. All Rights Reserved 14 This is the new company. This is how we are going to win. We need to make this successful. “
  15. 15. Proprietary and Confidential ©2018 OpenView Advisors, LLC. All Rights Reserved 15
  16. 16. Proprietary and Confidential ©2018 OpenView Advisors, LLC. All Rights Reserved 16 HOW TO RUN A DISCIPLINED EXPERIMENT Experimenting can be made simple using these four steps. Generate Hypothesis Design Experiment Run Experiment Analyze Results
  17. 17. Proprietary and Confidential ©2018 OpenView Advisors, LLC. All Rights Reserved 17 LEVERS WE CAN TEST TO OPTIMIZE LEAD GEN Self Sourced Offshore Team Build Build Web Scraping Process Outsource Lead Score Outsource Appointment Setting Round Robin Organization Structure List Creation Data Append Lead Source Scoring Enrichment Prioritization Outbound Sales Process Internal Appointment Setting Buy Verticalized Geographic Inside Sales ModelNone None Contact Verification
  18. 18. Proprietary and Confidential ©2018 OpenView Advisors, LLC. All Rights Reserved 18 LEVERS WE CAN TEST TO OPTIMIZE LEAD GEN Self Sourced Offshore Team Build Build Web Scraping Process Outsource Lead Score Outsource Appointment Setting Round Robin Organization Structure List Creation Data Append Lead Source Scoring Enrichment Prioritization Outbound Sales Process Internal Appointment Setting Buy Verticalized Geographic Inside Sales ModelNone None Contact Verification
  19. 19. Proprietary and Confidential ©2016 OpenView Investments, LLC. All Rights Reserved 19 You are pitching too early in the buyer’s journey. 3
  20. 20. Proprietary and Confidential ©2018 OpenView Advisors, LLC. All Rights Reserved 20 You’re dealing with suspects, not leads. You must generate interest.
  21. 21. Proprietary and Confidential ©2016 OpenView Investments, LLC. All Rights Reserved 21 The Buyer Journey
  22. 22. Proprietary and Confidential ©2016 OpenView Investments, LLC. All Rights Reserved 22 Awareness Consideration Purchase
  23. 23. Proprietary and Confidential ©2016 OpenView Investments, LLC. All Rights Reserved 23 Awareness Consideration Purchase Inbound You “pitch” here
  24. 24. Proprietary and Confidential ©2016 OpenView Investments, LLC. All Rights Reserved 24 Awareness Consideration Purchase Outbound You can’t “pitch” here
  25. 25. Proprietary and Confidential ©2016 OpenView Investments, LLC. All Rights Reserved 25
  26. 26. Proprietary and Confidential ©2016 OpenView Investments, LLC. All Rights Reserved 26 Get started with outbound (again). Define and prioritize your segments. Run disciplined experiments. Educate, don’t pitch.
  27. 27. Liz Cain | lizc@ov.vc THANK YOU

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