07 keys to a successful sales trans- formation...action plan is also essential to ensuring it can be...
TRANSCRIPT
07 KEYS TO ASUCCESSFULSALES TRANS-FORMATION
The companies that survive the tumult of change
are those that stay agile. Successful companies typ-
ically employ a variety of different strategies to that
end, including reorganization, product innovation,
and new pricing models. There are many ways for
a company to adapt; but staying ahead of the com-
petition almost invariably requires an improved
sales approach.
Most organizations will look to traditional sales
training programs to get that boost. However,
we’ve found that off-the-shelf training programs
rarely deliver the significant and lasting change
that companies need.
A “sales transformation” on the other hand, ad-
dresses the unique challenges and needs of a
specific business, no matter how small, large, or
complex. Rather than a one-off, one-size-fits-all
seminar on the latest lead generation techniques or
closing tactics, sales transformations aim to ad-
dress every element of a company’s sales model.
And while the sales transformation process can be
incredibly valuable, it can also be incredibly chal-
lenging. We hope that, by sharing the following
“7 Keys to a Successful Sales Transformation”, we
can share some insights to help your organization
overcome those challenges.
7 KEYS TO A SUCCESSFUL SALES TRANSFORMATION
No matter how airtight your business plan, the world changes. You can’t predict every niche product that gains a foothold on your market, nor the game changers (or game-changing mergers) that overturn the entire competitive landscape.
Begin by identifying the specific external prob-
lems that your sales team needs to solve. Is your
greatest challenge acquiring new customers? Ex-
panding existing relationships? Losing deals to a
specific competitor? All of the above? Look closely
at your sales data to determine where your team
needs to improve the most. Then, map a clear
and concrete course on how to get there. To help
guide the transformation process from beginning
to end, that course should include explicit steps
whenever possible.
To remain clear, the vision and strategy should
also be concise. Try to distill the vision into a sales strategy one-pager, which will serve as a road
map to guide the transformation process. A concise
action plan is also essential to ensuring it can be
shared and communicated readily.
01: CLEAR STRATEGY AND VISIONEvery successful sales transformation begins with a clear strategy and vision. Without first defining what success looks like, and how to get there, leaders will be unable to realize the transformation they want.
When creating your sales strategy one-pager, make sure to consider the following 5 key elements:
How will you know if your program has been a success? What indicators will signal the realization of the vision? Remember, less is more when it comes to metrics. A total of three key metrics is ideal, but don’t use more than five. Keep it clear, achievable, and measurable.
05 :SALES METRICS
03 :SALES STRATEGYHow do you plan to get from Point A to Point B? What is your roadmap to get from current challeng-es to final vision? Be sure to include steps which address the specific chal-lenges you’ve outlined in the previous step.
04 :STRATEGICINITIATIVESWhat are the key com-ponents of the program? What structures, over-hauls, and initiatives will define the program?
01 :VISIONWhat are the goals of the program? What is its pur-pose? What specific goals and short-term targets are required for success?
02 :CHALLENGESWhat are the internal and external challenges the company is facing that is requiring a new strategy?
Build this coalition from the ground up. Use their
opinions, insights, and feedback to help fine-tune
the program from the beginning. These individ-
uals will serve as the biggest advocates for the
transformation, so they must fully understand and
support the vision.
A true sales transformation won’t take place in a
2-hour seminar. It is a continuous, iterative process
that requires guidance, leadership and persistence.
After establishing your strategy and vision, enlist
the help of that small, guiding coalition to remain
engaged along every step of the way.
02: CREATE A GUIDING COALITIONFor a sales transformation to truly take root, it must first receive widespread acceptance. To help aid in that effort, enlist the help of influencers and thought leaders within the team, to serve as inside spokespeople for the transformation. This coalition should be a cross section of your company; including leaders from a variety of different roles and departments, such as sales, sales enablement, and marketing that have knowledge, credibility, and influence.
So, for your sales transformation to work, you’ll need to
develop a customized sales program to suit your orga-
nization’s unique needs. That program should consist of
three essential elements: Process; Message; and Tools.
Your sales process should be aligned to your custom-
er’s buying process and should include other consid-
erations, such as targeting; prospecting; qualification;
closing; and renewal and upselling activities.
Your sales messaging should clearly define how to
communicate your organization’s unique value prop-
ositions and how to lead effective sales conversations
throughout your customer’s buying process.
Finally, make sure to leverage tools to help make
your sales team and managers more effective.
Many organizations gravitate to sales tools without
first assessing whether or not the tools will help
them solve their external challenges. The list of
sales enablement tools on the market is practically
endless. Do your own due diligence and select the
tools that are right for your organization.
03: CUSTOMIZE THE PROGRAMWhy are pre-packaged sales seminars ineffective? Because savvy sales teams view them as the “flavor of the month.” Off-the-shelf training rarely has a lasting impact. What’s more, every organization has its own unique personality, processes, and markets to consider. One size does not fit all.
CUSTOMIZED SALES PROGRAM
SALES PROCESS
SALES MESSAGE
SALES TOOLS
Management is critical to the success of a sales
transformation. Include managers early in the
design process of the transformation, so that their
voices and insights are fully integrated into your
sales initiative. Launch the program to your man-
agers first and make sure to equip them with the
tools they need to effectively promote and enact
the vision. After the launch, managers will be
the primary engines for enacting and upholding
the transformation. Your managers need to have
a consistent cadence of meetings with coaching
conversations around business planning, oppor-
tunity strategies, and pipeline development. So,
equip them to be effective champions of change, by
investing extra time and energy into their training
and support.
04: FOCUS ON THE MANAGERSWhile it may seem like common sense that managers are important to the transformation process, they are often the most overlooked element. And failure to engage managers early on is one of the leading causes of programs falling flat and not meeting expectations.
We believe knowledge transfer can occur in a
number of ways (eLearning, virtual web meetings,
face-to-face) but we recommend that transforma-
tion initiatives be launched face-to-face with exec-
utives, managers, and their teams. This approach
allows for a high degree of interaction among the
sales team, it allows managers to demonstrate their
buy-in by leading their teams, allows collaboration
and dialogue. The Curve of Forgetting states that
most people will only retain 10% of new knowledge
after 30 days if it is not revisited. To overcome this,
we suggest a clear follow-through strategy to de-
velop new skills and develop habits. For this activ-
ity, we recommend a blend of virtual coaching and
face-to-face activities. Face-to-face activities and
coaching should center around team meetings and
one-on-ones focused on preparation, practice, and
driving accountability. Virtual coaching around
activities, deals, and tools. Due to their low cost
and high convenience, virtual collaboration tools
(Go-to-meeting, HD Meeting, Zoom, etc.) allow for
much more frequency and follow-up.
05: LAUNCH AND FOLLOW-THROUGHFor a program to stick, to improve skills and have lasting behavior change, in needs to address three key components: knowledge, skills, and habits.
KNOWLEDGE
SKILLS
HABITS
IN-PERSON LAUNCH
FACE-TO-FACE AND VIRTUAL COACHING
PREPARATION, PRACTICE, AND ACCOUNTABILITY
There are two types of metrics: leading and lag-
ging indicators. Most companies tend to focus on
lagging indicators when selecting sales metrics,
because they’re easy to identify and track. How-
ever, lagging indicators alone often fail to capture
the full picture of your initiative’s progress. Lead-
ing indicators, on the other hand, can provide
valuable insights into the earlier stages of your
program’s development, such as adoption rates of
new activities, tools, and messaging.
Leading indicators should guide your manager’s
coaching activities, and lend accountability and
consistency to the transformation process. Deter-
mining which leading indicators are right for your
business is critical. They should focus on the activ-
ities or habits that are key to enabling the success
of your unique program.
A FEW EXAMPLES OF LEADING INDICATORS INCLUDE:
• Number of new executive meetings• Pipeline growth• Number of days in opportunity stage• Activity conversions (calls to meetings to demos to
proposals to close)
By employing a mixture of both leading and lag-
ging indicators, leaders will receive a more accu-
rate and complete picture of their teams’ progress.
Company executives and board members will
also have added visibility to the key metrics to see
whether the ship is headed in the right direction.
06: IDENTIFY METRICSA sales transformation constitutes an extensive and dramatic change to your business. As a result, it usually doesn’t happen overnight or in the short term. That’s why it’s imperative that you establish clear metrics by which to measure the program’s success up front. Without these, it may become difficult to determine whether or not your transformation is on the right track.
To help maintain your team’s enthusiasm and trust,
make sure to celebrate major and minor milestones
throughout the transformation process. Retention
doesn’t come naturally. New habits, skills, and
processes must be constantly reinforced before
they will truly take hold. For that to happen, team
members should share in one another’s successes.
Consider creating a portal or website that is dedi-
cated to supporting the sales team in its transfor-
mation. A social platform on which team members
can share key accomplishments and updates can be
invaluable to the transformation process. Remem-
ber, no accomplishment is too small to boost morale
and inspire retention.
A sales transformation is neither fast nor easy.
Sales transformations require careful planning,
patience, and persistence to be effective. But for
leaders who are willing to invest the necessary
time, energy, and resources up front, the process
will undoubtedly prove worthwhile.
07: CELEBRATE KEY SUCCESSESFor a sales transformation to really stick, employees need to believe in it. And there’s no better way to inspire faith in the program than by celebrating its successes. As we mentioned earlier, the transformation process can be slow; new habits often take a while to change. And many companies have long, complex sales cycles. So, positive revenue results might not always be immediate.
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