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Double your Sales Teams Productivity
The document discusses sales productivity challenges, outlining survey results related to sales quotas and the time sales reps spend selling versus non-selling activities. It suggests strategies to improve effectiveness and efficiency, such as reducing non-essential tasks, utilizing CRM automation tools, and creating a consistent sales process. Potential time savings could lead to significant improvements in deal closure rates and average deal size.
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Double your Sales Teams Productivity
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- 4. Poll #1 What %of your sales organization hits quota each month? 0 - 24% 25 - 49% 50 - 74% 75% or higher Don't know / Don't track
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- 13. I need aweek...
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- 20. Poll #2 Within yourorganization, what is the average amount of hours reps actually spend selling, on a weekly basis (40 hr. work week)? Less than 10 11 - 15 16 - 20 21 - 25 25 - 30 31+
- 21. How the SalesTeam Spends Its Time 5 hours/week in CRM 3 hours/week in Internal Meetings 4 hours/week Supporting Clients 5 hours/week Researching Clients 4 replying to Non-Sales Related Emails = 21 hours Non-Selling | 19 hours Sales Time
- 22. Ranges Ineffective 15% CR Closed Lost 92Days Deal Size $1,500 Effective 45%CR Closed Won 34 Days Deal Size $50,000 56% of all deals are lost at the demo phase
- 23. You Need To: 1.Cut out all non-essential time investments for the reps 1. Create a sales process that is consistent across reps 1. Measure this all on a weekly basis to ensure that you are making progress
- 25. Time Savings 1. Researchestools to reduce manual CRM data entry 2. Looks to limit meetings that include reps 3. Looks to limit support issues coming into sales 4. Researches prospecting tools to help reps with research and creating lead lists 5. Looks into email filtering solutions for reps
- 26. Effectiveness & EfficiencyMeasures 1. Meets with sales process consultants (with goal of achieving more predictable sales outcomes) 2. Considers changes to CRM (lock in sales process) 3. Works with Marketing to create an ICP 4. Asks Marketing to interview clients (learn how they like to buy)
- 28. How Tom recommendssaving time 1. Use CRM automation tool that will lower CRM admin by 4 hours/week 2. Limit Salespeople to 1-hour sales meeting per week 3. Update sales process/support structure to reduce customer support to <30 minutes per week 4. Employ prospecting tool to decreases research by 70% 5. Institute email filtering solution that shows reps only emails related to sales opportunities Total potential time saved per week 15.8 hours/rep
- 29. How Tom addressesEffectiveness & Efficiency 1.Hire a sales process expert to create a consistent sales playbook 2.Make necessary adjustments in CRM to help facilitate this process 3.Create an Ideal Client Profile (ICP) to help focus reps on the right prospects
- 30. Effectiveness & EfficiencyImpact Estimated Effectiveness Impact: • Close ratio normalizes to 32% • Avg deal size normalizes to $17(k) • Deals lost at the demo phase decrease from 56% to 20% Efficiency impact from updated sales process: • Closed/won stays at 34 days • Closed/lost drops to 20 days
- 33. Resources for you •Sales Leaders Guide to Sales Force Productivity (includes the Sales Productivity Rating Model) • Daily productivity checklist for sales people • Predictable Revenue – Aaron Ross’s Book • Salesforce Productivity Infographic • Hubspot Sales Productivity Research @seanburkeh seanhburke
- 34. Tools to CheckOut Research Charlie App LinkedIn Predictive Analytics Infer 6sense InsightSquared Sales Prospecting - KiteDesk Prospecting & Research CRM automatic syncing Ideal Client Profiles Email filtering Social Selling
Editor's Notes
- #2 For those of you expecting a typical webinar – I’m sorry to disappoint you – we aren’t going to do that today. Instead I’d like to tell you a story. This story, while fictional, is all based on issues I have personally experienced working with different sales teams over that last 20 years. Before we get to the story…I’d like for you to take down my twitter account information and my LinkedIn contact information. If you connect with me on these networks – I will connect back. And if there is something that I can help you with – please let me know. Please let me know that you attended this event so I will have a context for our connection. Don’t be shy – I’m Happy to do it! OK – let’s begin!
- #3 Slide 1 - So we start with a Sales Team (our characters): Jane is the VP of Sales Tom is the head of sales ops – he’s got his back towards us Carleen is a SMB Rep – she is located on Janes right hand side Jake is an SDR – He is sitting to Tom’s right They are all a part of the typical sales team you’d find at any mid sized B2B company throughout the US.
- #4 Slide 2 - Jane thinks that sales is doing ok. Their team operates similar to other sales teams. on any given month 40-60 percent of the team hits their numbers. Most times a big deal comes in at the end of the quarter and they squeak by. But some quarters that doesn’t happen and they miss by a mile. She knows that things could be better but for the most part she feels that things are OK.
- #6 Jane doesn’t think much of it until her CEO Jacqueline calls her into her office one day and says - the following: I’ve been doing some research on your team and have found some disturbing news: Your quarter over quarter performance variance is 24% Your team’s time to close ranges from 8 days to 6 months for similar sized deals You lose 32% of your team members each and every year Jane this is a problem that you have to fix. You need to seriously address your entire teams sales productivity - and you need to do it quickly. Our investors want to see a sales model that is scalable and predictable.
- #7 Jane brings the team together and shares the bad news. They discuss productivity and for the most part the team agrees that everything is ok. Everyone agrees – that is for Tom – the head of Sales Ops
- #8 Slide 5 - Tom says - I knew this day would come...sorry Jane, I’ve been giving you warnings about this for a long time - but today is the day that we will need to address this - Jane we’ve actually had a sales productivity issue for a long time. But it’s never been addressed. If we miss a quarter – we usually make it next quarter. And our sales turnover is always used as an excuse as to why we missed our numbers. Plus we have a a few sales heroes that make up the difference in what the poorer performers miss
- #9 Slide 6 - Jane says “What do you mean?” We’ve met our annual numbers the last 3 years. Doesn’t that prove that we are productive?
- #10 Slide 7- Tom says - well that’s just it - Sales Productivity across the board is bad - here are some stats...it’s not just us...but Jacqueline doesn’t care. Sales people spend 4 hours (10% of their time) updating their CRM/week In a recent report – only 33% of sales peoples time is spent selling 16% of reps time is spent on post sales support 19% of their time is spent on searching and gathering information Sales people handle over 600 emails on a weekly basis In most sales orgs – it takes longer to lose a deal then win it
- #11 Slide 8 - Jane looks frustrated. “so what do we do?” Tom says I have an idea…
- #12 I think the best way for us to proceed is to use a model to see where we fit related to optimal sales performance. Once we know where we are at – we can then do some analysis to see what changes need to be made – then we can make those changes… Sound like a plan? The team all shakes their heads yes.
- #13 Slide 9 - Tom says let’s take a look at this Sales Productivity Rating model – On the left hand side is effectiveness – which is all about our results – if we are strong on effectiveness then we hit our results regularly and predictably. It tells us if we are doing the right things Across the bottom is efficiency – this is all about if we are doing things correctly. For example – within each step of our sales process are we optimizing our movement through this step. Many companies call this sales acceleration So where do you think we fit? They all point to the bottom left...see that’s the issue we need to be in the upper right...that’s the goal. So--what do we do?
- #14 Slide 10 - Tom - says - give me a week - I’ll come back to you with my game plan.
- #15 Slide 11 – First Tom meets with Jake who is a Sales Development Representative. He asks Jake questions like: Show me how you spent your time Where are you encountering road blocks Walk me through your standard processes What’s working / what isn’t Jake gives him all the details he needs to understand a week in the life of an SDR
- #16 Slide 12 - Tom meets with Carleen and asks her the same thing – he asks her a lot of the same questions as Jake – but spends more time talking through the entire sales process since Carleen actually walks deals all the way through to closure
- #17 Slide 13 - Tom even meets with Marketing to get their input. He tries to dig into how they are generating leads, what makes a great client, how they push leads to sales… Marketing shares that they are very campaign driven and many times their lead flow will see drastic increases and decreases based on events that they are either running or attending.
- #18 Slide 14 - Before the week is up - Jane pulls Tom aside and says that Jacqueline just told her that she not only wants to see his game plan - but also - what the impact will be based on his recommendations. He needs to have a methodology or defendable thought process on how he addresses sales productivity Tom thinks – this is great…now I’m on the hook for estimating the impact of my suggestions too – I should have never raised my hand…
- #19 Slide 15 – As you would expect – Tom is working some late hours trying to help not only identify their productivity issues – but now he has the added task of estimating the impact. As he is burning the midnight oil the CFO stops by. Tom shares his project concerns with the CFO and get’s his feedback.
- #20 Slide 16 - CFO says - productivity is a function of doing the right things (effective), doing things correctly - or in the case of sales (are you predictably closing deals) (efficient) - are you moving deals through the sales cycle rapidly and maximizing your time spent doing results driven work. So if Tom wants to show a methodology - he can break his recommendations into those groupings Since Tom is already heading down this path – he feels relieved that he started with a model and then drilled down into the details from there.
- #22 Slide 17 – As the CFO leaves – Tom reviews some of his interview notes. Time - Based on his interviews here is how (on average) his sales team spends their time: 5 hours/week in SFDC 3 hours/week in internal meetings 4 hours a week supporting clients 5 hours/week researching clients 4 replying to non-sales related emails The rest is on sales =21 hours non-selling; 19 hours selling
- #23 Slide 18 Then he reviews the ranges in performance of the team Effective The close ratios variations between reps ranges from 14% - 45% - this tells me that we do not have a consistent sales process, or our lead quality varies widely. Or we track deals inconsistently. It could be a lot of things 56% of all deals are lost at the demo phase – If we are losing so many deals at the demo phase – we must be doing our demos wrong. Deal sizes range from $1500/year - $50,000/year – this tells me we target a wide segment of clients and we need to sell to them differently Efficient Time to close varies from 20 days - 65 days – given our deal size range – this makes sense – smaller deals should close faster Close won deals take 34 days – this isn’t too bad for deals over $10k but for $1500 deals – it seems a bit long Close lost deals take 92 days – Holy cow – this is a problem
- #24 Slide 19 - Tom is not exactly sure what this all means - so he goes and meets with the CFO. CFO tells him the following: Tom this is great data that you have pulled together – here is my quick read on this: You need to cut out all non-essential time investments for the reps You have to create a sales process that is consistent across reps You have to measure this all on a weekly basis to ensure that you are making progress – the time to lose deals is way out of line – that is a problem that needs to be fixed
- #25 Slide 20 – Tom’s feeling pretty good know – he feels like he has his arms around what he needs to do. So what he does is: - NEXT SLIDE
- #26 Slide 22 First he looks at ways to cut non-essential work from the sales team: Researches tools that will reduce the manual effort of updating CRM Looks into all meetings held that include sales reps to try to find ways to limit their involvement Find ways to lesson support issues coming into sales Researches prospecting tools to help do research and lead list creation for reps Looks into email filtering solutions for reps to handle the massive amounts of emails they deal with
- #27 Slide 23 Next he investigates how to improve sales effectiveness and efficiency So he Talks to sales process consultants to see what can be done to create more predictable sales outcomes Looks into changes he can make in their CRM to lock in sales process gates Works with marketing to create a more tightly defined Ideal Client Profile Has marketing interview clients on how they like to buy
- #28 Slide - 21 – Tom has to show results so as he thinks through how he will present his findings – he doodles this simple visual that shows that by attacking productivity from these three vantage points – utlimately the results will come
- #29 So – here is what he recommends to save time
- #30 Next he suggest that they address effectiveness and efficiency by…
- #31 His estimates is that by taken these actions over the next 6 months they should see these results. Also – by reporting on these weekly – they will ensure that they stay the course and make the necessary changes
- #32 Slide 22 – Tom’s ideas are spot on and Jane knows it. Jane is thrilled with his analysis - so in her mind Tom saves the day – she feels empowered and prepared to present his case to the CEO.
- #33 Slide 23 - Jane shows Jacquelinethe plan and she is impressed. She agrees to move forward with Tom’s recommendations primarily because he was smart enough to recommend weekly measurement of their progress.
- #35 Tools Charlie App for research LinkedIn for research Predictive Analytics Infer 6sense Analytics - insightsqured Sales Prospecting - KiteDesk CRM automatic syncing Email filtering Research Social Selling ICP