7 Must Avoid Sales & Marketing Time Wasters for 2014
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Watch the on demand webinar here: http://www.insidesales.com/sales-time-wasters-webinar Mick Hollison, CMO at InsideSales.com & Giles House, CMO at CallidusCloud Discover how to eliminate these sales time wasters: - Poor Sales and Marketing Strategy - Weak Lead Generation Sources - Slow Response to Lead Inquiries - Too Few Attempts to Contact Leads - Lackluster Training, Coaching & Mentoring - Ineffective Lead Management Processes - Not Knowing Your Wins and Losses Watch a live demo of the PowerDialer for Salesforce: http://www.insidesales.com/demo
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7 Must Avoid Sales & Marketing Time Wasters for 2014
- 1. 7 Must Avoid Sales & Marketing Time Wasters for 2014
- 2. • Mick Hollison CMO, InsideSales.com HQ in Silicon Slopes, Utah Leader in sales acceleration technology 3 years of 100%+ annual revenue growth 350+ employees – Inc. Hire Power winner • Giles House CMO, CallidusCloud HQ in Pleasanton, CA Leader in sales and marketing effectiveness 650+ employees worldwide
- 3. 1. Poor sales and marketing strategy 2. Weak lead generation sources 3. Slow response to lead inquiries 4. Too few attempts to contact leads 5. Lackluster training, coaching & mentoring 6. Ineffective lead management processes 7. Not knowing your wins and losses
- 4. Poor sales & marketing strategy
- 5. • Ask the tough questions What is your core message and USP? Who is your target buyer? How is your product or service different? What is your most successful lead source?
- 7. Simon Sinek
- 9. 7% Sales lost because territories are not properly valued
- 10. Weak lead generation sources
- 11. 90% of visitors on your website are anonymous
- 12. • Provide a sustainable source of quality inbound leads • Buy high-quality lists Costs 5-10% of the labor costs Could be wasting 40% of reps time • Use intelligent communications technology Increase contact volume and rates Predict lead value and contact-ability
- 13. Slow response to lead inquiries
- 18. Too few attempts to contact leads
- 20. 20% Nurtured leads more likely to convert to opportunities
- 21. Lackluster training, coaching & mentoring
- 22. 17% Quota attainment increase with 3 hours a month of coaching
- 23. Experiential Coaching & Mentoring Formal Education McCall, Eichi nger, Lombar do
- 24. • Begin with onboarding experience • Don’t depend on managers Hire role-based coaches • Align coaching content to KPIs • Cut sales rep ramp time by 50% from 4 months to 2 months • Decreased product implementation time by 33%
- 26. 80% Of leads generated by marketing die and remain dead because sales doesn’t believe they’re “sales ready”
- 27. • Typical model is finger-pointing between sales & marketing • Time to initial contact is often 48 hours or more • Automated lead management is essential Lead capture Lead scoring Lead sorting Lead tracking Lead reporting Lead source analysis
- 28. Not knowing your wins & losses
- 30. • Know sources of success & failure • Monitor & record sales interactions in “real-time” • Build a BI team • Implement basic KPIs inbound outbound new account acquisition revenue rep performance • Build a sales operations center
Editor's Notes
- SaaS Provider of the Year – AAISPTop 100 Private Companies – AlwaysOn
- Poor sales strategy, messaging, what you stand for etc.GH who to go after, Find a bridge - start with why, what markets to tap into. From there, getting more granular into how you're going to do it. Territory coveragehow many reps to feedwherewhat productsleading revenue indicators Sales quota assignmentsValues of our territories and what their potential isNeeds to be aligned to marketing plans and data from marketing plansIf it takes us 6 months to get a product off the shelf from launch, we can better assign revenue numbers against territories for those new products. Demand plan - where is marketing placing its bets and how is that in line with where we're creating the territories
- Lead gen sources – inbound, getting people to you important, much higher close rate. Tactics to get more people to you, important and expensive but make the most of what you got in front of you right now – Your website.Giles takes transitionLeads versus listsWebsite conversionInbound - website is shop window, not optimizing, monitoring or tracking visitors is a mistakeVisitor intelligence - 90% anonymous, early stage buyers, need to understand where they are in process and identify them correctly. Better first interaction from a sales perspective. Can put the anonymous people into nurturing tracks to improve conversion rate. NurturingKnowing the web visitorsSEO, Ads, Digital Marketing
- It's your systems - Line up ma, tnq and crm to automatically route faster Marketing automation - metric about getting to lead in 3min vs 1 hourTerritory and quota - focused list of accountsCRM - leads/contacts assigned fast
- Align territory and MA get leads out faster. But also better leads in the first placeHigher quality leads need less contact attempts.Better qualified leads in the first placeUnderstanding more about the people you're trying to talk to - context to have better conversationsRecycling to make sure they're back in your MA and being kept warm and you're still top of mindAlerting repsRouting to correct teams
- Poor sales training“You train dogs, you don’t train sales people”eLearning - ongoing mobile learning vs. training at sko. Youtube effect, videos, twitter effect short and oftenFundamentals that sales reps need to learn Enable them to take a quick refresher on product as they go into meetingsPull rather than pushGet it when you need it – from anywhereAbout the playbooks…Mobile first…video-centricCoaching – surgical approach instead of band-aid fixes
- 70% from real life and on-the-job experiences, tasks and problem solving. (The most important aspect of any learning & development plan)20% from feedback and from observing and working with others and coach (mostly the boss)10% from formal education (through structured courses)
- Lead scoring, nurturing, stay top of mind even if they’re not ready, recycle them back into nurtures.Sales responsible for 50% of the pipeline, this isnt just for marketers anymore. Sales must demand these tools to be at their disposal.Marketing end of lead managementAccount and territory mappingSales alignment – lead definitionGates and tacticsCalling on the right contactsCampaignsMeasurements
- Why did you win at each stage of the funnel, what’s working what’s not?Sales person is a messenger, to deliver a complex message to the right audience.Have we got the right audience, have we got the right message, is it being delivered rightMarketing key metrics throughout the sales cycleWhen is a deal really won? Really lost? ContextWhat’s working and what isn'tLooking at every stage of the funnelTime from 1st contact to dealDo we have the necessary pipelineReal data, real-time – too rear-view mirrorUpselling