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How to Build a Validated Sales Process

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How to Build a Validated Sales Process by Tim Bertrand, Senior Vice President, Worldwide Sales, Acquia. This deck was originally presented at Sales Hacker Series Boston on November 18th, 2014.

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How to Build a Validated Sales Process

  1. 1. Tim Bertrand SVP, WW Sales
  2. 2. Summary • Funnel management • Dissect/analyze how a deal gets into your funnel • Build a validated sales process • Measure, Measure, Measure
  3. 3. Funnel Management - Opportunity Creation • Sales Generated Leads SDR MQLs Sales Accepted Lead • ISR/SDR Sales Qualified Lead • Accou nt Exec ISR Responsibilities - Pipeline Generation - High % of Qualified Opportunities - Assist with deal closure within territory - Prepare to move into quota carrying role SDR Responsibilities - Pipeline Generation - Qualify Opportunities - Territory Focused Account Executive + EMEA ISR Responsibilities Qualify Opportunity - Salesforce.com Opportunity creation and stage management - Manage deal to closure 15
  4. 4. Sales Accountability: Set SLA’s • Sales Qualified -­‐> ISR Accepts Sales SLAs • 2 weeks 1 hour call back on MQLs (during working hours) • 2 weeks in Sales Accepted with clear next steps • Sales Accepted for more than 2 weeks requires approval • Sales Qualified means it is in pipeline review process • Qualified -­‐> Closed Won conversion rate will be benchmarked • Follow up on MQLs for top 25 prospects in your region 16
  5. 5. Sales Execution - Weekly pipeline review - Territory Planning - Deep Dive Account Reviews - Regular review of KPIs - Pursuit Drills - Funnel Management - Deal ownership & management Deep Discovery Sales Pipeline Management 17 Pursuit drills Vision to Close “The qualifying test”
  6. 6. Discovery Letter A “Discovery Letter” should be sent within 24 hours of a possible opportunity interaction. It typically contains the essence of the conversation that occurred during the sales call along with a proposed set of next steps. A common structure is: • A detailed description of the sales person’s understanding of the need and what is driving the need • A description of the timetable, budget, and approval process • Re-cap of any recommendation you made • A list of open questions that were not answered (and may have been tabled for off line discussion during the meeting) • A list of agreed upon next steps and owners. This list is one of the best ways to push things forward, especially if there are due dates attached to each next step. • A discovery letter MUST BE VALIDATED / ACKNOWLEDGED by prospect 6
  7. 7. The Qualifying Test Account Executives should feel comfortable moving their opportunity from Prospect to Qualified when you can answer YES to the following questions: • Do they have a problem? ü Be able to identify the pain ü Be able to identify the business impact of the pain • Can we provide a solution that solves this problem? ü Be able to identify the solution • Is the problem compelling and are they planning to take action? ü Be able to determine timeframe for a decision • Do we have access to key decision makers? ü Identify key decision makers • Do they have a realistic budget? (is it big enough for Acquia?) You must send a Discovery Letter and get written confirmation from the Prospect stating that they agree with next steps. A “Discovery Letter’ should be sent within 24 hours of every meeting. It typically Contains the essence of the conversation that occurred during the sales call along with a proposed set of next steps 18
  8. 8. Example Discovery Letter James, Thank you for your time today. I now have a much better understanding of your data needs. I have summarized my notes from our conversation. Please let me know if you have any comments / clarifications. CURRENT SITUATION - ABC company is currently hosting their Drupal site at RackSpace - Significant user growth has crashed the site five times in the past two months - The site outages are tarnishing ABC’s brand and the CEO has mandated a fix ASAP - RackSpace nor ABC have the Drupal expertise to troubleshoot / manage this environment. There is a concern that the site has security flaws - ABC is looking for a company to provide hosting and application support 7/24 - The annual budget for hosting and support is $75k. James and his boss will make the vendor decision. NEXT STEPS - James will complete the hosting questionnaire by ….. - James and his boss will participate in a 60 minute requirements gathering / validation call with Acquia on ______ - After this call, Joe will turn a proposal around in 24 hours - Joe and James walk through the proposal on ______ James, I look forward to working with you on this project. Regards, Joe Salesperson 8
  9. 9. Using the Pursuit Drill The template should be completed by a sales rep and VALIDATED by a sales manager / deal team for any deal that makes into QUALIFIED/BEST. It should also be used as a “gut check” before investing in a formal proposal. The pursuit drill ensures we answer these kinds of questions: Does the customer have a need? Do we have the right solution? Is this a closable opportunity? Where do we have red flags? What pro-active strategies should we deploy? 9
  10. 10. Vision to Close • A vision to close MUST be done AND Validated by a manager prior to moving a deal into Likely/ Commit. Answering theses 3 quick questions can create a roadmap on how to get a deal to closure • How do we get business buy-in? • Person / what they care about / how we will get them bought in • How do we get technical buy-in? • Person / what they care about / how we will get them bought in • What is the procurement / legal process and how do we navigate?
  11. 11. Other key tricks to closing deals faster The “Dear John” Internal Selling documents
  12. 12. Dear John • You MUST act with edge to understand which deals to focus on • A “Dear John” will force the customer to confirm that can execute by your target date OR tell you no • Should be sent • Beginning of each Q • At the end of week 7 • You all should have an example on google docs (Dear John example) • “Yes is great, No is ok, maybe is unacceptable”
  13. 13. Internal Selling Document If necessary, volunteer to help your champion create an internal selling document for the decision makers that briefly outlines: The need Why this need should be addressed now The options we evaluated The solution we recommend, and why The details of the initiative (cost, time frame, etc.) How this initiative will support the company goals (save 13 money, improve control and visibility, etc.)

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