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Predictable Results for High Growth Sales Organizations
The document outlines key drivers for high growth inside sales organizations, including defining sales processes, building sales models, and managing teams for stability. It emphasizes the importance of CRM analytics and consistent coaching to enhance sales productivity and outlines the need for reliable sales forecasts. Additionally, it discusses risk factors, velocity, and conversion rates as critical components of an effective sales model to achieve predictable results.
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Predictable Results for High Growth Sales Organizations
- 1. PREDICTABLE RESULTS FORHIGH GROWTH SALES GROUPS
- 2. Top drivers forsales organizations Source: Boosting Sales Productivity in 2015, Presented by Dr. Richard Rocco, Assistant Professor, DePaul University
- 3. Key Drivers forHigh Growth Inside Sales Organizations •Define Sales Process •Build a sales model •Define & Develop Competencies •Manage Sales Team for stability and growth Source: Boosting Sales Productivity in 2015, Presented by Dr. Richard Rocco, Assistant Professor, DePaul University
- 4. Predictable sales impact… •“If you don’t know where you’re going, any road will get you there” Lewis Carroll, Alice in Wonderland – Growth Projections – Expense Budgets – Headcount – Etc..
- 5. A Model anda commitment… • Sales Model – CRM Analytics sustain and reinforce activities in sales model – Consistent coaching to sales model • Commitment to hiring and training new reps – Develop a perpetual bench of qualified candidates – Immediately train to the sales model – Coach to sales model – Post Hire: Study and know predictors of success – Discipline
- 6. A Model anda commitment… • Sales Model – CRM Analytics that are sustainable and reinforce activities in sales model – Consistent coaching to sales model • Commitment to hiring and training new reps – Develop a bench of qualified candidates – Train to the sales model – Coach to sales model* – Post Hire: Study and know predictors of success – Discipline
- 7. Who Cares ? •The usual suspects: – Shareholders – Board of Directors – Equity Investors and potential Investors – C-Level Executives – Senior Executives • Your Sales Team
- 8. Who Cares ? •The usual suspects: – Shareholders – Board of Directors – Equity Investors and potential Investors – C-Level Executives – Senior Executives • Your Sales Team Nobody wants to question your sales analysis. But they will. Make it reliable and they’ll stop
- 9. Prospect Connect – Assess Qualified Interest– Est. Value Closeable/Proposal Demo – Confirm Closeable/Internal Approval Trial Close – Objections – Close Closeable Verbal Schedule – Close Closed Won Document – Thanks – Referrals High Growth Sales Model Defined… Source: Paul Charles, Inc. www.paulcharles.com
- 10. High Growth SalesFunnel Defined… • Frequent movement from stage to stage • Clearly defined expectations for activity (ex: 5 x 2 x 4) • Velocity – Responsibility for volume adds weekly – Time kills all deals • Adaptability – Recognizing market opportunities Source: Dealmaker Index, supported by third party research www.tasgroup.com
- 11. High Growth SalesFunnel Defined… • Frequent movement from stage to stage • Clearly defined expectations for activity (ex: 5 x 2 x 4) • Velocity – Responsibility for volume adds weekly • Adaptability – Recognizing market opportunities Source: Dealmaker Index, supported by third party research www.tasgroup.com #Deals * Value * Win Rate Sales Velocity = ------------------------- Length of Sales Cycle
- 12. Sales Model notes… •Designed around Velocity • Conversion rates • Risk Factors • Forecast Accuracy • Technology and sustainability
- 13. Sales Model notes… •Deal Velocity – How many leads need to be added to top funnel – When in the quarter do they get added – What is the multiplier for your business
- 14. Sales Model notes… •Conversion Rates – Know your conversion rates, build for higher yield – Know funnel stages – Manage Macro (volume) and Micro (coaching) Source: Aberdeen Group, April 2014
- 15. Sales Model notes… •Conversion Rates – Content Driven • Customized for each market opportunity • SMART – Specific – Measureable ($,#,%) – Attainable – Realistic – Time Bound Source: Aberdeen Group, April 2014
- 16. Sales Model notes… •Conversion Rates – Know your conversion rates, build for higher yield – Know funnel stages – Actively manage Macro (volume) and Micro (coaching) Source: Aberdeen Group, April 2014 Avg. Pipeline Conversion Dials to conversation 20:1 MQL to SAL: 36% SAL to Sales Oppty: 32% Oppty to Closed Deal: 29%
- 17. Sales Model notes… •Risk Factors – Competition – Greenfield – Doing Nothing
- 18. Sales Model notes… •Risk Factors – Competition – Greenfield – Doing Nothing What is the only thing you can’t make more of ? TIME !
- 19. Sales Model notes… •Forecast “Accuracy” – % of deals closed on time and at $ – Opportunity “fall out”, capture for re-marketing – Buy sign awareness – Coverage among buyer personas – Only then does CRM predicts results…
- 20. Sales Model notes… •Forecast “Accuracy” – % of deals closed on time and at $ – Opportunity “fall out”, capture for re-marketing – Buy sign awareness – Coverage among buyer personas – Only then does CRM predicts results… Run a “closed” business for last FY in your CRM. Run forecasts for same period. That’s your accuracy rate.
- 21. Forecasting notes… • Technology –Actively hate CRM ? • Is CRM accurate enough to predict results ? (mgmt) • Make it the carrot, not the stick (sales) – Is CRM customized for ease of data entry ? • Make it simple, make it quick, it will be used
- 22. Forecasting notes… • Technology –Actively hate CRM ? • Do these 2 things: – Is CRM accurate enough to predict results ? • Adoption suffers • Seen as a stick, not a carrot – Is CRM customized for ease of data entry ? • Make it easy, make it quick, make it useful Keep it simple and it will work for Salespeople !
- 23. Storytime… Context Market was populatedby best in class providers: Error free environment Regulations prompted adoption of specific technology solutions Velocity Divided territory up into 3 reps 2 Senior, 1 Junior BDR Fed all providers into CRM for calling (Day 1 calling) Modelled sales interactions in CRM Lead source Entry points Approach Timing Risks Low Forecast Accuracy High, allowed for more growth of team Developed marketplaces for other industries (Lifestyle and Apparel) Technology CRM reflected and reinforced sales model
- 24. Storytime… • Results – Acquired80% of the providers in market area – Incrementally added $2.2 Million revenue – Sales model tracking: 46 days – Shortened sales cycle by 44 days
- 25. In summary… • PredictableHigh Growth Sales –Planned Velocity –Automated with Technology –Measured –Sustainable –Defined –Committed
- 26. ConnectLeader Sales DialingPlatform Team Dialer ® Live Conversation Automation Personal Dialer® Power Dialing Software Click Dialer™ Click- to-Call for Salesforce.com Built-in CRM Integration with: For Account Managers & Social Selling For Inside Sales For Business Development
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Editor's Notes
- #3 Dr. Richard Rocco at DePaul University identifies the drivers leading to performance for 2013. Rich spent 25 years in b2b sales and marketing. For the past 7 years he’s conducted ongoing research in identifying the key areas leading to increased productivity and performance. Is the will of the organization great enough to support modeling their practices ? Is the will of the organization great enough to bake that model into behaviors that can be defined and measured ? Are the Metrics defined, communicated and appropriate to the organization.
- #4 Of the three metrics, Defining the Sales process, Developing Competencies, and managing turnover, we’ll focus on the first. A word about 2 and 3… Are you empowering your sales reps with consistent training that they are skilled enough to execute Is there a program designed to attract and retain competent skilled sales professionals. A word about the third: Are the processes portable ? Use test analogy. If it is repeated to you as a new idea, then it passes the test. Can someone with sales management or awareness understand them and implement them ? Is the organization stable ? If your VP Sales was hit by a bus tomorrow, could the COO/CEO pick up the model and run with it while a replacement was found ? And, does the sales process leveraging the technology to automate and measure multiple channels ? From inbound traffic at social media sites, to internal marketing leads, and CRM ?
- #5 WHY ? Reliable sales predictions help organizations grow and meet the company’s plans. Is your organization a high growth outfit, sacrificing margin for market share knowing that visibility only comes after revenue numbers (not profit) and market share thresholds are met ? Does volume and velocity count more than anything ? Operationally, planning budgets for marketing activities rely on accurate forecast to determine trade show attendance and staffing, hiring pacing and other key goals of the organization.
- #6 Reliable sales predictions help organizations grow and meet the company’s plans. Is your organization a high growth outfit, sacrificing margin for market share knowing that visibility only comes after revenue numbers (not profit) and market share thresholds are met ? Does volume and velocity count more than anything ? Operationally, planning budgets for marketing activities rely on accurate forecast to determine trade show attendance and staffing, hiring pacing and other key goals of the organization.
- #7 Reliable sales predictions help organizations grow and meet the company’s plans. Is your organization a high growth outfit, sacrificing margin for market share knowing that visibility only comes after revenue numbers (not profit) and market share thresholds are met ? Does volume and velocity count more than anything ? Operationally, planning budgets for marketing activities rely on accurate forecast to determine trade show attendance and staffing, hiring pacing and other key goals of the organization.
- #8 C-Level executives, chiefly CFO, COO, and CEO want predictable results to gain credibility with the board and investors. Senior Level Executives mandate predictable results for stable sales organizations without surprises And finally there are sales people… They are coin operated. Providing an environment where effort pays dividends lowers the cost of growth by maintaining experienced sales reps, avoiding training of replacements. They want to earn a living delivering value to the company via revenue and a share for themselves and family.
- #9 C-Level executives, chiefly CFO, COO, and CEO want predictable results to gain credibility with the board and investors. Senior Level Executives mandate predictable results for stable sales organizations without surprises And finally there are sales people… They are coin operated. Providing an environment where effort pays dividends lowers the cost of growth by maintaining experienced sales reps, avoiding training of replacements. They want to earn a living delivering value to the company via revenue and a share for themselves and family.
- #10 Paul Charles Associates spends their days helping companies build sales models where none exist and reworking those that are confusing.
- #15 Note: Average email marketing open rate is 15 to 20%. Response rate is 1 to 2% for any digital marketing conversion. Important Dialing Metrics: Avg. Dials to Conversations: 5% MQL is a marketing qualified lead (scheduled appointment) SAL is a sales engaged contact (discovery call/demo)
- #16 Note: Average email marketing open rate is 15 to 20%. Response rate is 1 to 2% for any digital marketing conversion. Important Dialing Metrics: Avg. Dials to Conversations: 5% MQL is a marketing qualified lead (scheduled appointment) SAL is a sales engaged contact (discovery call/demo)
- #17 Note: Average email marketing open rate is 15 to 20%. Response rate is 1 to 2% for any digital marketing conversion. Important Dialing Metrics: Avg. Dials to Conversations: 5% MQL is a marketing qualified lead (scheduled appointment) SAL is a sales engaged contact (discovery call/demo)
- #22 User adoption suffers when ease of use is not present.
- #23 User adoption suffers when ease of use is not present.
- #31 My name is Matt Stanton, I’ve spent dozens of years selling and managing inside sales teams. I’ve lead sales teams in traditional sellign markets and in high growth enterprises. I’ve focused primarily on modeling the sales process and building sales ready materials. ----- Meeting Notes (2/6/15 13:24) ----- I'm now with ConnectLeader, sales dailing and automoation technology that drastically accelerates the sales process. It's patented and it works.