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Website                       Email                          Phone
www.salesbenchmarkindex.com   info@salesbenchmarkindex.com   1-888-556-7338




       Sales Process: The Truth About Sales
      Methodologies: Why Reps Don’t Adopt
          Them and What to Do About It
                 Are you ready to be world class?
Matt Sharrers
    Brief Bio
       • Principal at Sales Benchmark Index
       • VP of Sales at Fortune 500 company
       • Author of Promoted to VP of Sales:
         The Year 1 Toolkit
       • Featured speaker on XM
         radio, National Speakers Association
       • Industry thought leader with more
         than 15 years of business
         experience


2
Overview
     Questions you need to answer
      How can you get your sales reps to adopt the sales
       methodology?
      How has the buying process of your customer
       changed?
      How can you accurately map the buying process of
       your customer?
      How can you ensure your CRM system facilitates
       adoption of your sales methodology?
      How can you ensure your sales management team
       is coaching and reinforcing your sales methodology?

3
Sales Methodology Goal
     •   Shorten sales cycle
     •   Improve win rates
     •   Increase average selling price
     •   Improve forecast accuracy




4
The Buyer/Seller Mismatch
              – Traditional sales processes are centered around the
                seller, who attempted to dictate the pace
              – The buyer has different plans, and now they can
                dictate the pace
                                            Seller’s Plan

                                               4.               5.
                                  3.                                           6.
     1.        2. Identify                 Confirming       Confirming                      7.
                             Determining                                   Finalizing                 8. Closing
Prospecting   Opportunity                    Vision         Value and                   Negotiating
                              Problems                                        Plan
                                            Match             Power




                                                ≠
                                           Buyer’s Plan

1. Recognize             2. Identify         3. Evaluate                 4. Resolve           5. Purchase
    Needs              Requirements            Options                   Concerns               Solution


5
Sales Process:
                 Misaligned Exit Criteria
                                                                                            Sales Cycle
                                                                    Determining              Confirming          Confirming          Finalizing
                                             Opportunity
                        Prospecting                                 Differentiated             Vision            Value and            Mutual            Negotiating         Closed
                                              Identified
                                                                      Problems                 Match               Power                Plan
Sales Exit Criteria




                                        First Meeting        Pain, Timeline,         Discovery, Sch       Demo, Summar        Reference           Close Call
                                                             Decision                edule Demo           y of Findings       Called,             Complete,
                                                             Criteria                                                         Activant            Ask Order
                                                                                                                              Preferred, Propos
                                                                                                                              al Review




                                                              Needs                                Explore                         Resolve
                                Catalyst                                                                                                                              Purchase
                                                            Recognition                            Options                        Concerns
  Buyer Exit Criteria




                                Recognize            Clear Vision of Solution           Preferred Solution                Risks Considered              Issue Order
                                Problem                                                 Identified



                                                                                           Buying Cycle


6
Buying Process Comparison
                 Transactional              Consultative                    Enterprise
            Commodity/Standard      Differentiated/Customizable Strategic/Low Substitutability
            Service                 Service                     Service

 Traits
            Known, Static           Scaling Requirements        Embedding Requirements
            Requirements            (Functional Scope Increase) (Business Objectives Scope
            (Geographical Scope                                 Increase)
            Increase)
Buying      Price/Ease of Acquiring Solution Fit/Price-          Platform & Values fit;
Criteria
                                    Performance Tradeoff         Sustainable; Return on effort
Timeline    One-time Event          Purchasing Stream            Strategic Plan
Relation-   Cost-based buyer-seller Benefits-based client-       Trust-based business partners;
  ship
            transactional           advisor cooperative          Insider; Both parties change
Success     Must meet decision      Must access influencers      Must access strategy level
            maker
 Nature     Execute the deal        Problem solve                Agenda setting; blurred
                                                                 boundaries between buyer &
                                                                 seller
7
2. Identify
1. Recognize Needs                     3. Evaluate Options   4. Resolve Concerns   5. Purchase Solution
                     Requirements



Definition – Identify the prospect’s corporate capabilities required to fulfill the need

Steps                                                        Sales Aids

1. Conduct Internal Account Planning                         Internal
2. Review Discovery & Insight Plan with Prospect             1. Opportunity Assessment
    (MI #4)                                                      (updated)
3. Perform Discovery and Insight Work                        2. Win Plan (updated)
4. Dry Run on Findings (MI #5)
5. Present Discovery Findings (MI #6)                        External
6. Visual Presentation of Pricing Techniques (MI #7)         1. Sub-Industry Standard Demo
7. Project Sponsor Meeting (MI #8)                           2. Opportunity Map
8. Insert Business Requirements into a Prospect-             3. Evaluation Plan (updated)
    Friendly Format (MI #9)                                  4. Value Case (Part 2)
9. Present Time to Value Theme (MI #10)
10. Internal Meeting to discuss Deal #1 Scope



Exit Criteria: Business Requirements Document (BRD) in Prospect-Friendly Format


8
Job Aids




9
Job Aids




10
Key Metrics Comparison




     Positives                              Negatives
     • ASP grew on new logos                • ASP on new projects down
     • Sales Cycle Length dropped on both     50%
       types                                    • Potentially due to smaller
     • Number of deals in same 6 month             add on deals
       time frame grew 68%                         (Training, audits)


11
SM Suggested Weekly Cadence
       Monday                     Tuesday            Wednesday               Thursday                 Friday

           AM                         AM                  AM                     AM                     AM
     Weekly Update                                                                              Office:
     Meeting (1 hour)                              Sales Process Topic                          • Deal Reviews
                                                    Training Meeting                            • Inspect SFDC
 •     1:1 Debriefs         Field Rides Focusing                         Field Rides Focusing   • Retention Call
     − 15 Minute Prep         on Sales Process                             on Sales Process     • Other Internal
     − 30 Minute                   Topics                                       Topics            Calls
       Execution
                                                                                                      (Travel)


            PM                        PM                   PM                    PM                     PM
                                                                                                Office
 Office:                                           Office:                                      • Deal Approval
 • Recruiting                                      • 1:1 Debriefs                               • Internal Calls
 • Deal Reviews                                    • Reactive                                   • Review Pipeline
 • Emails                   Field Rides Focusing     Customer Calls      Field Rides Focusing
 • Internal Calls             on Sales Process     • Emails                on Sales Process
 • Deal Approvals                  Topics                                       Topics

           (Travel)                                      (Travel)

                  KEY
 Red:           Mandatory
 Orange:        Recommended
12
 Black:         Minimize time spent
Sales Management Reinforcement
     1. Separate team selling from skill building
     2. Regular cadence
     3. On purpose coaching vs. sporadic visits
     4. Coach through the lens of the methodology
     5. Questions vs. statements
     6. Call to Action from the rep




13
Sales Methodology Questions
     1. Have you mapped your buying process?
     2. Have you measured sales cycle length, win
        rates and average selling price?
     3. Have you measured your forecasting accuracy?
     4. Have you embedded your sales methodology
        into your CRM system?
     5. Have you prescribed a coaching cadence to
        drive reinforcement of your sales
        methodology?


14
Q&A with Matt Sharrers




15
Further interest…
     Email - info@salesbenchmarkindex.com or call 1-888-556-7338
     for a free sales methodology consultation.


     Additional questions can be sent directly to Matt Sharrers at
       matt.sharrers@salesbenchmarkindex.com


     Sign up for the next webinar “Instant Improvements for
        Segmenting Your Accounts - How to Determine the Real
        Potential of Your Territory” at :
     SalesBenchmarkIndex.com or by going to bit.ly/seg-acct

16

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Sales Process Webinar: The Truth About Sales Methodologies: Why Reps Don’t Adopt Them and What to Do About It

  • 1. Website Email Phone www.salesbenchmarkindex.com info@salesbenchmarkindex.com 1-888-556-7338 Sales Process: The Truth About Sales Methodologies: Why Reps Don’t Adopt Them and What to Do About It Are you ready to be world class?
  • 2. Matt Sharrers Brief Bio • Principal at Sales Benchmark Index • VP of Sales at Fortune 500 company • Author of Promoted to VP of Sales: The Year 1 Toolkit • Featured speaker on XM radio, National Speakers Association • Industry thought leader with more than 15 years of business experience 2
  • 3. Overview Questions you need to answer  How can you get your sales reps to adopt the sales methodology?  How has the buying process of your customer changed?  How can you accurately map the buying process of your customer?  How can you ensure your CRM system facilitates adoption of your sales methodology?  How can you ensure your sales management team is coaching and reinforcing your sales methodology? 3
  • 4. Sales Methodology Goal • Shorten sales cycle • Improve win rates • Increase average selling price • Improve forecast accuracy 4
  • 5. The Buyer/Seller Mismatch – Traditional sales processes are centered around the seller, who attempted to dictate the pace – The buyer has different plans, and now they can dictate the pace Seller’s Plan 4. 5. 3. 6. 1. 2. Identify Confirming Confirming 7. Determining Finalizing 8. Closing Prospecting Opportunity Vision Value and Negotiating Problems Plan Match Power ≠ Buyer’s Plan 1. Recognize 2. Identify 3. Evaluate 4. Resolve 5. Purchase Needs Requirements Options Concerns Solution 5
  • 6. Sales Process: Misaligned Exit Criteria Sales Cycle Determining Confirming Confirming Finalizing Opportunity Prospecting Differentiated Vision Value and Mutual Negotiating Closed Identified Problems Match Power Plan Sales Exit Criteria First Meeting Pain, Timeline, Discovery, Sch Demo, Summar Reference Close Call Decision edule Demo y of Findings Called, Complete, Criteria Activant Ask Order Preferred, Propos al Review Needs Explore Resolve Catalyst Purchase Recognition Options Concerns Buyer Exit Criteria Recognize Clear Vision of Solution Preferred Solution Risks Considered Issue Order Problem Identified Buying Cycle 6
  • 7. Buying Process Comparison Transactional Consultative Enterprise Commodity/Standard Differentiated/Customizable Strategic/Low Substitutability Service Service Service Traits Known, Static Scaling Requirements Embedding Requirements Requirements (Functional Scope Increase) (Business Objectives Scope (Geographical Scope Increase) Increase) Buying Price/Ease of Acquiring Solution Fit/Price- Platform & Values fit; Criteria Performance Tradeoff Sustainable; Return on effort Timeline One-time Event Purchasing Stream Strategic Plan Relation- Cost-based buyer-seller Benefits-based client- Trust-based business partners; ship transactional advisor cooperative Insider; Both parties change Success Must meet decision Must access influencers Must access strategy level maker Nature Execute the deal Problem solve Agenda setting; blurred boundaries between buyer & seller 7
  • 8. 2. Identify 1. Recognize Needs 3. Evaluate Options 4. Resolve Concerns 5. Purchase Solution Requirements Definition – Identify the prospect’s corporate capabilities required to fulfill the need Steps Sales Aids 1. Conduct Internal Account Planning Internal 2. Review Discovery & Insight Plan with Prospect 1. Opportunity Assessment (MI #4) (updated) 3. Perform Discovery and Insight Work 2. Win Plan (updated) 4. Dry Run on Findings (MI #5) 5. Present Discovery Findings (MI #6) External 6. Visual Presentation of Pricing Techniques (MI #7) 1. Sub-Industry Standard Demo 7. Project Sponsor Meeting (MI #8) 2. Opportunity Map 8. Insert Business Requirements into a Prospect- 3. Evaluation Plan (updated) Friendly Format (MI #9) 4. Value Case (Part 2) 9. Present Time to Value Theme (MI #10) 10. Internal Meeting to discuss Deal #1 Scope Exit Criteria: Business Requirements Document (BRD) in Prospect-Friendly Format 8
  • 11. Key Metrics Comparison Positives Negatives • ASP grew on new logos • ASP on new projects down • Sales Cycle Length dropped on both 50% types • Potentially due to smaller • Number of deals in same 6 month add on deals time frame grew 68% (Training, audits) 11
  • 12. SM Suggested Weekly Cadence Monday Tuesday Wednesday Thursday Friday AM AM AM AM AM Weekly Update Office: Meeting (1 hour) Sales Process Topic • Deal Reviews Training Meeting • Inspect SFDC • 1:1 Debriefs Field Rides Focusing Field Rides Focusing • Retention Call − 15 Minute Prep on Sales Process on Sales Process • Other Internal − 30 Minute Topics Topics Calls Execution (Travel) PM PM PM PM PM Office Office: Office: • Deal Approval • Recruiting • 1:1 Debriefs • Internal Calls • Deal Reviews • Reactive • Review Pipeline • Emails Field Rides Focusing Customer Calls Field Rides Focusing • Internal Calls on Sales Process • Emails on Sales Process • Deal Approvals Topics Topics (Travel) (Travel) KEY Red: Mandatory Orange: Recommended 12 Black: Minimize time spent
  • 13. Sales Management Reinforcement 1. Separate team selling from skill building 2. Regular cadence 3. On purpose coaching vs. sporadic visits 4. Coach through the lens of the methodology 5. Questions vs. statements 6. Call to Action from the rep 13
  • 14. Sales Methodology Questions 1. Have you mapped your buying process? 2. Have you measured sales cycle length, win rates and average selling price? 3. Have you measured your forecasting accuracy? 4. Have you embedded your sales methodology into your CRM system? 5. Have you prescribed a coaching cadence to drive reinforcement of your sales methodology? 14
  • 15. Q&A with Matt Sharrers 15
  • 16. Further interest… Email - info@salesbenchmarkindex.com or call 1-888-556-7338 for a free sales methodology consultation. Additional questions can be sent directly to Matt Sharrers at matt.sharrers@salesbenchmarkindex.com Sign up for the next webinar “Instant Improvements for Segmenting Your Accounts - How to Determine the Real Potential of Your Territory” at : SalesBenchmarkIndex.com or by going to bit.ly/seg-acct 16

Editor's Notes

  1. Sales Process, Sales Methodology, Sales Rep, Sales Management, Sales Rep Adoption, Buyer Process, Seller Process, Exit Criteria
  2. Contact us if you would like to understand how you can get your sales reps to adopt sales methodologies.Email - info@salesbenchmarkindex.comPhone - 1-888-556-7338Web: http://www.salesbenchmarkindex.com