Accelerating New Sales Hire Ramp Up: Strategy and Best Practices

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With many organizations anticipating to hire more sales reps in 2014, its more important than ever to bring those new reps to productivity faster. Sales forces too often adopt a "sink or swim" approach to new salesperson success - accompanied by management's grudging acknowledgement that new salesperson turnover will be forever high.

In this webinar, you will learn:

- Important elements of effective onboarding approaches
- Structured, tested approaches that work
- How to shift the onboarding process to a strategic, productivity asset

Published in: Business, Education
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Accelerating New Sales Hire Ramp Up: Strategy and Best Practices

  1. 1. Accelerating New Sales Hire Ramp Up Strategies & Best Practices 1
  2. 2. Agenda • Top Challenges Facing Sales Organizations • Growing Sales Organizations • Today’s Selling Environment & The Gap in Sales Execution • Why Organizations Struggle With Sales Ramp Up • Areas for Improvement • Conclusions 2
  3. 3. Top Challenges Facing Sales Organizations 3 13% Unadaptable Sales Process 16% Poor Sales & Marketing Alignment 20% Difficulty Establishing ROI 24% Common Sales Process Across Organization 33% Difficulty Presenting Differentiation 33% Sales Cycles Too Long
  4. 4. Executive Management Viewpoint 4 0 10 20 30 40 50 60 70 80 90 100 Shortening sales cycles Greater visibility Increasing deal sizes Improving overall quota attainment Increasing win rates Most Important to Executive Management 2014 94% 87% 83% 82% 75%
  5. 5. Top Sales Objectives 5 0 10 20 30 40 50 60 70 Increase reorder & renewal rates Reduce ramp-up time for new sales people Reduce sell cycle time Optimize deal size via up-selling & cross-selling Improve customer loyalty & satisfaction Increase sales effectiveness & performance Increase penetration into existing accounts Capture new accounts Top Sales Objectives for 2014 2014 58% #2 Increase Penetration into Existing Accounts #1 Capture New Accounts 46% 25% 20% 20% 14% 7% 6%
  6. 6. Polling Question How much do you expect to grow your sales organization this year? Not at All Less Than 10% Between 10%-30% Greater than 30% A. B. C. D.
  7. 7. plan to expand sales team between 10%-30% Growing Sales Organizations Key Priority Challenges and obstacles for ramping new sales teams: • 87% of training is forgotten within weeks when not embedded in selling process • 58% of new sales rep time is spent not selling 7 29% 7-12 months to effectively onboard new reps 40%
  8. 8. The Complicated Selling Environment 60% of buyer’s journey completed before ever interacting with sales 90% Selling content is never used in selling because sales can’t find the right resources 58% Pipeline ends up in “no decision” (stalled) because value has not been effectively presented 88% of missed opportunities were because sales couldn’t find resources 8 x misaligned to buyer stages not presenting right value can’t find resources poor performance
  9. 9. The Gap in Sales Execution 9 Strategy Sales Execution
  10. 10. The Gap in Sales Execution 10 Strategy Sales Execution • Buyers more savvy • Sales process more complex • Reps have not transformed • Sales onboarding too long Gap
  11. 11. The Gap in Sales Execution 11 Strategy Sales Execution Typical Actions to Close Gap: • Buyers more savvy • Sales process more complex • Reps have not transformed • Sales onboarding too long Gap
  12. 12. More Training however, 87% is forgotten within weeks The Gap in Sales Execution 12 Strategy Sales Execution Typical Actions to Close Gap: • Buyers more savvy • Sales process more complex • Reps have not transformed • Sales onboarding too long Gap
  13. 13. More Training however, 87% is forgotten within weeks More Content 70% are halfway to decision before Sales is engaged The Gap in Sales Execution 13 Strategy Sales Execution Typical Actions to Close Gap: • Buyers more savvy • Sales process more complex • Reps have not transformed • Sales onboarding too long Gap
  14. 14. More Training however, 87% is forgotten within weeks More Sales Reps 9 mo avg ramp up time 58% of time not selling More Content 70% are halfway to decision before Sales is engaged The Gap in Sales Execution 14 Strategy Sales Execution Typical Actions to Close Gap: • Buyers more savvy • Sales process more complex • Reps have not transformed • Sales onboarding too long Gap
  15. 15. Reasons Why Actions Not Closing Gap: More Training however, 87% is forgotten within weeks More Sales Reps 9 mo avg ramp up time 58% of time not selling More Content 70% are halfway to decision before Sales is engaged The Gap in Sales Execution 15 Strategy Sales Execution Typical Actions to Close Gap: • Buyers more savvy • Sales process more complex • Reps have not transformed • Sales onboarding too long Gap
  16. 16. Reasons Why Actions Not Closing Gap: More Training however, 87% is forgotten within weeks More Sales Reps 9 mo avg ramp up time 58% of time not selling More Content 70% are halfway to decision before Sales is engaged The Gap in Sales Execution 16 Strategy Sales Execution Typical Actions to Close Gap: • Disconnected activities • Misaligned with buyer stages • Not specific to each selling situation • Can’t keep up with rate of change • Value not presented • Buyers more savvy • Sales process more complex • Reps have not transformed • Sales onboarding too long Gap
  17. 17. Minding the Gap When Hiring New Sales Reps Hiring Alone Does Not Solve Growth Challenges 17 Slower Time-to- Productivity Out-of-Date Onboarding Process
  18. 18. Financial Impact of Accelerating Ramp Up 18 Current State Improvements Proposed State Number of new sales reps 25 25 Average annual revenue per Rep $1,000,000 $1,000,000 Time it takes to ramp up (months) 9 20% 7.2 Effectiveness during ramp up 50% 50% Lost revenue per rep ramp up $375,000 $75,000 300,000 Annual Revenue Lost $9,375,000 $1,875,000 $7,500,000
  19. 19. Polling Question How long does it currently take to onboard a new sales rep? (time to productivity) Less than 3 Months 3 to 6 Months 6 to 9 months Greater than 9 months A. B. C. D.
  20. 20. Sales Execution Challenge: “Sales Ramp Up Too Long” • Fire Hose Onboarding = “It’s About Us” • Typically Tactical Implementation • Missing Context Which Creates New Gap 20 Why Organizations Struggle With Sales Ramp Up Fire Hose Effect Our Messages Our Value Proposition Our Capabilities Our Features Our Benefits Our Differentiators
  21. 21. Context is Key 21
  22. 22. Context is Key 22 Situational Selling
  23. 23. Accelerating New Sales Rep Ramp Up 23 Doing Today • New Hire Orientation • Incremental Training • Adhoc Coaching • Mentoring • Case Studies • Collateral Need To Do Differently • Well Defined Sales Process • Integrating Activities (onboarding, training, coaching day-to-day job activities, all while working deals) • Intelligent Guidance (deal specific) • Just-in-time Information (Push vs Pull) • Getting reps involved in real deals sooner (context)
  24. 24. Integrated Activities 24 Work Deals Sooner Greater context by getting reps involved in real deals sooner Coaching Embed coaching in situational selling scenarios to reinforce training Guidance Deal-specific contextual guidance to drive sales behavior Aligned Resources Align content and resources to buyer stages Working Live Deals context Within the Selling Process
  25. 25. Intelligent Guidance to Reinforce Best Practices & Process 25 Selling Documents Best Practices Training Coaching Process Content Resources Tools Contextual Details
  26. 26. How do your reps get the information they need? Just-in-time Information 26 Seek advise Try Searching Ask Sales Operations Ask Marketing SME Marketing Sales CRM
  27. 27. Just-in-time Information 27 Contextual Resource Center
  28. 28. Just-in-time Information 28 Case Study on Large Manufacturing Organization Contextual Resource Center
  29. 29. Just-in-time Information 29 ROI Calculator with speaking points for CFO Contextual Resource Center Case Study on Large Manufacturing Organization
  30. 30. Just-in-time Information 30 Contextual Resource Center Case Study on Large Manufacturing Organization ROI Calculator with speaking points for CFO
  31. 31. Accelerating Time-to-Revenue 31 Fully Productive New Sales Reps Integrated Activities Reinforce Best Practices Just-in-Time Information
  32. 32. Key Take-Aways • Hiring along does not solve the growth challenge • Sales readiness starts with a well defined sales process • Disparate & siloed activities inhibit onboarding success • Integrating training, coaching, mentoring leveraging technology can better guide sales behaviors • Pushed just-in-time information can help to better present value to buyers 32
  33. 33. New White Paper: Accelerating Rep Ramp-Up 33
  34. 34. About Qvidian • 15 Year Proven History • Loyal Customer Base • 1,200+ Customers • 100% Cloud-based • End-to-End Solution • Constantly Innovating Customers increase win rates by 28% and improve productivity by 40%.
  35. 35. Contact • North America: +1 513-631-1155 • Europe: +44 (0) 870-734-7778 35 #SalesExecution #Qvidian x linkedin.com/in/cfaust/ linkedin.com/company/Qvidian twitter.com/Qvidian facebook.com/Qvidian youtube.com/Qvidian

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