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How Great Sales Managers Minimize Risk to Maximize Impact
The document is a summary of a webinar focused on smart sales transformation, emphasizing the need for analytics and coaching to improve sales performance. It discusses the challenges sales managers face, such as the low percentage of time spent on coaching and the rising expectations from buyers. Additionally, it highlights the importance of data-driven insights in managing sales effectiveness and forecasting outcomes.
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How Great Sales Managers Minimize Risk to Maximize Impact
- 1. smartma&ers The FutureLooks Smart
- 2. © The TASGroup 2015 Before We Begin 1 You will receive a link to the recording of today s webinar. Watch for it in email. 2 The recording will also be available on our website thetasgroup.com, in the Resources section. 3 Enter your questions in the Questions box or tweet to @thetasgroup. 4 Join the conversation on Twitter: #SmartSales
- 3. © The TASGroup 2015 Donal Daly CEO
- 4. smartma&ers SmartSales Transformation Smart Sales Transformation CLOUD SMART MOBILE EASY
- 5. smartma&ers SmartSales Transformation Current State ROI DELAY Why is it taking so long to get a Return on Sales Investment? SMART BUYERS Buyers are getting SMARTER RISING EXPECTATIONS Shareholders and customers expectations continue to rise FAST MARKETS Markets are getting FASTER
- 6. smartma&ers SmartSales Transformation What we know LOST KNOWLEDGE 13% of traditional sales training is retained after 30 days MISSED QUOTA Only 2 out of 5 salespeople are achieving quota SHORT TENURE Average tenure of a CSO is just 18 months KEY PLAYERS INACCESSIBLE Only 54% of salespeople can access key players
- 7. smartma&ers SmartSales Transformation How do we transform sales? KNOWLEDGE DATA CONTEXT REASONING
- 8. smartma&ers SmartSales Transformation Smart Sales Transformation KNOWLEDGE • Best Practice • Experience • Methodology DATA Dealmaker is native on Salesforce CONTEXT Where you are in the deal or account, the month or the quarter APPLIED REASONING Smart Software that analyses, coaches & recommends
- 9. smartma&ers SmartSales Transformation PLAYBOOK OPPORTUNITY ALIGN ACCOUNT MANAGE
- 10. smartma&ers SmartSales Transformation PLAYBOOK OPPORTUNITY ALIGN ACCOUNT MANAGE
- 11. smartma&ers The SalesManager’s Challenge What are the Big Questions?
- 12. smartma&ers SmartSales Transformation The Sales Manager Challenge Travel Sales Forecast Manage Pipeline Close DealsSales Coaching QBR @ HQ Enablement Hiring
- 13. smartma&ers SmartSales Transformation What can help? Top performers are 10x more likely to use analytics1 Use of Analytics Sales Productivity 10x Coaching can improve sales productivity by 88%2 Sales Analytics Coaching Top Performers Low Performers +88% Coaching No Coaching
- 14. smartma&ers SmartSales TransformationSmart Sales Transformation Poll #1 What kind of Sales Performance Analytics are used in your company today? • Standard Salesforce (or other CRM) reports? • Excel • Advanced analytics software • None
- 15. smartma&ers SmartSales TransformationSmart Sales Transformation Poll #2 How would you characterize sales coaching at your company? • Coaching is an effective component of our sales culture • Coaching happens early and late in the sales cycle for deals • Coaching happens late in the sales cycle to save a deal • Our managers don’t have the time or don’t know how to coach • Other
- 16. smartma&ers SmartSales Transformation Current State … Source: Sales Management Association 73% Sales Managers Spend <5% of their 9me Coaching More than 5% of Time Coaching? Do Analy,cs Projects Work? 55% Never Finish Source: Infochimps / CSC
- 17. smartma&ers SmartSales Transformation Why Sales Managers Don’t Coach 23% 47% 26% 100% 50% 0% Don’t Value Coaching Not Enough Time Don’t Know How or When Sales Reps Don’t Ask Other 2%2%
- 18. smartma&ers SmartSales TransformationSmart Sales Transformation Big Data & Analytics
- 19. smartma&ers SmartSales Transformation Managing Sales Performance Risk Data (analy9cs) driven coaching
- 20. smartma&ers SmartSales Transformation Time Smart Predicting Sales Performance DATA REPORTS PREDICTIVE What will happen? PRESCRIPTIVE So What? DESCRIPTIVE What data ma&ers? What happened? What are the Big Ques9ons?
- 21. smartma&ers SmartSales TransformationSmart Sales Transformation Poll #3 How valuable is the data in your pipeline? • The pipeline is a valuable/accurate indicator of future business • I don’t know whether the data is valuable or accurate • Data is so poor that we can’t use it to manage the business
- 22. smartma&ers SmartSales TransformationSmart Sales Transformation Poll #4 What percentage of deals that are forecasted to close at the start of a period close in that period? • 0 – 40% • 40% - 70% • 70% - 100%
- 23. smartma&ers SmartSales Transformation Smart Sales Transformation KNOWLEDGE • Best Practice • Experience • Methodology DATA Dealmaker is native on Salesforce CONTEXT Where you are in the Month, Quarter, orYear APPLIED REASONING Smart Software that analyses, coaches & recommends
- 24. smartma&ers SmartSales Transformation Sales Managers Need Rhythm & Big Questions Sales Forecast Manage Pipeline Sales Coaching QBR @ HQ
- 25. smartma&ers SmartSales Transformation The Sales Forecast Call … ACME INC HAS DECREASED IN $VALUE JUST CLOSED HARRISON FOR $230,000 NEW DEAL: PTX $400,000 – IN LEGAL DID’NT GET A CHANCE TO UPDATE THE CRM I CAN GET THERE IF ALL MY DEALS … NO, HENRY @ ATC STILL DID NOT CALL BACK
- 26. smartma&ers SmartSales Transformation The Big Questions: Forecast Current State What’s my (team’s) quota? What is closed ? What is forecasted? What is possible? Future State Will forecasted deals close? Will possible deals close? What deals moved out of forecast? What deals are new in forecast? Focus Must Win opportuni9es Must Develop opportuni9es High Risk opportuni9es Sales Forecast
- 27. smartma&ers SmartSales Transformation Big Questions: Pipeline
- 28. smartma&ers SmartSales Transformation Big Questions: Pipeline Current State Pipeline Size ($/#) Are deals ac9ve or stalled? What is the pipeline mix (size)? Opportunity age / stage Future State Who is adding to the pipeline? What deals are new in pipeline? Overall pipeline growth? Focus Where are deals stuck? Pipeline leakage? Pipeline shorYall / balance Manage Pipeline
- 29. smartma&ers SmartSales Transformation Big Questions: SalesVelocity SALES VELOCITY V DEALS VALUE WIN RATE SALES CYCLE
- 30. smartma&ers SmartSales Transformation Big Questions: Deal Velocity Sales Cycle How long does it take to win? -‐ all / ‘qualified’ opportuni9es How long does it take to lose? -‐ all / ‘qualified’ opportuni9es Win Rate Value Win Rate % Number Win Rate % Ra9o Value: Number Win Rate Deal Size Average deal size? Typical deal size? Number of deals worked in the period? Sales Velocity
- 31. smartma&ers SmartSales Transformation Big Questions: QBR
- 32. smartma&ers SmartSales Transformation Big Questions: QBR QBR @ HQ Forecast Review How accurate was my Forecast? What happened to forecasted deals? Top 5 Late Stage losses Top 5 Late Stage regressions Pipeline Review What changed in the pipeline? Shape of the funnel? Deal value change though funnel? Where is pipeline leakage? Deal/Team Review Rela9ve Performance of Team Team pipeline balance
- 33. smartma&ers SmartSales Transformation
- 34. smartma&ers SmartSales Transformation Q A
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