Generating Revenue: Understanding Key Sales Fundamentals | Dionne Mischler | Lunch & Learn
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Dionne Mischler, CEO of Inside Sales by Design, presented on generating revenue through understanding key sales fundamentals. She outlined the importance of having a clear plan to monetize through defining the ideal customer profile, acquiring customers easily, and retaining customers through account reviews and value demonstrations tied to business outcomes. The presentation provided steps and resources for companies to develop strategies in these areas and measure progress over several months to generate consistent revenue.
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Generating Revenue: Understanding Key Sales Fundamentals | Dionne Mischler | Lunch & Learn
- 1. GENERATING REVENUE Dionne Mischler CEO, Inside Sales by Design AA-ISP OC Chapter President in/DionneMischler @DionneMischler Understanding Key Sales Fundamentals
- 2. AGENDA Generating Revenue ▪ Introductions ▪ Discussion ▪ Next Steps ▪ Resources CopyrightInsideSalesbyDesign2015 @DionneMischler
- 3. OVERVIEW Generating Revenue “Plan your work, work your plan.” Can you confidently answer the questions: 1. How do you make money? 2. What’s your monetization path? 3. Where’s your revenue coming from? (What’s your Ideal Customer Profile?) 4. How do you acquire customers? 5. How do you retain customers? CopyrightInsideSalesbyDesign2015 @DionneMischler
- 9. ICP CopyrightInsideSalesbyDesign2016 @DionneMischler Demographic 1. Company Industry 2. Size of company 3. Buying team 4. Sales team 5. Use case 1. Who buys? 2. Why they buy? 3. What are they solving? Quantitative 1. What product/service did they buy? 2. How long was the sales cycle? 3. Successful win information 4. Loss information Kite Desk blog post
- 10. CopyrightInsideSalesbyDesign2016 @DionneMischler HOW DO YOU ACQUIRE CUSTOMERS?
- 11. CopyrightInsideSalesbyDesign2016 @DionneMischler HOW DO YOU ACQUIRE CUSTOMERS?
- 12. CopyrightInsideSalesbyDesign2016 @DionneMischler ARE YOU EASY TO BUY FROM?
- 13. CUSTOMER ONBOARDING CopyrightInsideSalesbyDesign2016 @DionneMischler 3 Easy Steps – for when your customer says yes 1. Signed contract 2. Kick off call 3. Training
- 16. CUSTOMER RETENTION CopyrightInsideSalesbyDesign2016 @DionneMischler 3 Easy Steps 1. Account Review 2. X Touches 3. Value tied back to their desired business outcomes
- 17. NEXT STEPS 1. Determine Ideal Customer Collect your data points Who/which departments need to be a part of this conversation and exercise 2. Acquire Customers Determine how to get your solution in the customer’s hands EASILY Where are your customers and how do you go after them? 3. Retain Customers What does this need to look like? Who should be a part? CopyrightInsideSalesbyDesign2016 @DionneMischler
- 18. PROJECT TIMELINE Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Customer Onboarding Reporting (i.e. track progress) Customer Retention Is your Product/solution read? Document, document, document Workflow Automation Excel-based Activity Reports (Manual) Automate Activity Reports Ongoing Sales Training Market Validation/ICP Validation
- 19. RESOURCES CopyrightInsideSalesbyDesign2015 @DionneMischler https://blab.im/DionneMischler http://pminsidesales.usefedora.com/ OC Chapter: http://www.aa-isp.org/chapter.php?id=69
- 21. WHO AM I? CopyrightInsideSalesbyDesign2015 @DionneMischler Professional 17 years in Sales and Technology Built first official Inside Sales team in 2007 Today, Founder of Inside Sales by Design President of AA-ISP OC Chapter since 2009 Personal Born and raised in the Chicago Suburbs living in OC International Business & Business Administration degree from Carthage College Married 9 years; Mother to 2 children Passionate about Inside Sales and Education
- 22. CopyrightInsideSalesbyDesign2015 Dionne Mischler Founder, Inside Sales by Design AA-ISP OC Chapter President in/DionneMischler @DionneMischler Dionne.Mischler@InsideSalesbyDesign.com
Editor's Notes
- Let’s shift how we think about things. How people view time. Be able to adapt to that particular style. What’s your style?
- It’s not about you. Awesome you had the idea- how does it help your potential customer? Who could really use what you’ve come up with and why?
- Yep, this means you have to sell something. There’s another phrase, a little nicer…If it’s going to be, it’s up to me.
- R. Buckminster Fuller was a 20th century inventor and visionary who did not limit himself to one field but worked as a 'comprehensive anticipatory design scientist' to solve global problems. Fuller's ideas and work continue to influence new generations of designers, architects, scientists and artists working to create a sustainable planet.More inspiration for ICP and goes with how you make money, product creation, monetization. Are you easy to buy from? I would challenge that a lot of our “new” ideas are making the current model better. ATM’s instead of going into the bank. Buying online v. going into the store. Apple. FB. Now, this is NOT easy nor does it happen all the time.
- Let’s talk about your ICP. Your product is not for everyone. Your ICP allows you to find your target market size, locations, etc. And attack accordingly. List 3 quantitative characteristics and 3 qualitative. Let’s craft some messaging that relays why and how your customer would benefit from using your product.
- Very simple, way to start. Start with the demographic and this ties back to your ICP. As a sales leader, you’ve worked with marketing to focus your ICP – agai, confirm, confirm, confirm. Is the target customer really the target? This affects your go to market, outboutnd/inbound strategies, etc. From there, you’d look at your quantitative info and dive into the What, How long, What does a win look like and what does a loss look like. Ties to your Sales Process and cascades down to your Sales Teams and Customer Success Teams. What you’re driving at is COS. You’ll want to leverage data to determine are the right people selling the right products/services to the right prospects/customers.
- How do you make money? Let’s walk through defining the basic of money received in exchange for goods/services. How do you get to your ICP? Where are those people? Online, events, etc. How do they buy? How do you aquire? Sales plan along with your marketing plan.
- Path to monetization. Is it the product or is it product + services? Are you building a SaaS business? Great article from Steve Sinofsky on pricing your SaaS business. Eric Reis, the Lean Start Up. Start somewhere and build on the offerings. Essentially, how are you going to earn money on/from/to your widget?
- Are you easy to buy from? If not, you’re customers will go somewhere else or simply not buy. Is it easy to buy from you? Do your customers know what to do when?
- Very simple, way to start. Start with the demographic and this ties back to your ICP. As a sales leader, you’ve worked with marketing to focus your ICP – agai, confirm, confirm, confirm. Is the target customer really the target? This affects your go to market, outboutnd/inbound strategies, etc. From there, you’d look at your quantitative info and dive into the What, How long, What does a win look like and what does a loss look like. Ties to your Sales Process and cascades down to your Sales Teams and Customer Success Teams. What you’re driving at is COS. You’ll want to leverage data to determine are the right people selling the right products/services to the right prospects/customers.
- Are you able to retain your customers? Research tells us that it’s much less expensive to keep customers than it is to get new ones. Let’s walk through new customer acquisition cost – product creation, product marketing, marketing, sales, customer onboarding, customer implementation. Verses customer success.
- Very simple, way to start. Start with the demographic and this ties back to your ICP. As a sales leader, you’ve worked with marketing to focus your ICP – agai, confirm, confirm, confirm. Is the target customer really the target? This affects your go to market, outboutnd/inbound strategies, etc. From there, you’d look at your quantitative info and dive into the What, How long, What does a win look like and what does a loss look like. Ties to your Sales Process and cascades down to your Sales Teams and Customer Success Teams. What you’re driving at is COS. You’ll want to leverage data to determine are the right people selling the right products/services to the right prospects/customers.
- Has Three Stages. I’m a fan of simple and this is a good way to start.