creating a program to improve sales performance

W W W. M A X I M I Z E R . C O M © 2015 Maximizer Software Inc.

Maximizer’s Sales Best Practices Series

Improving Sales Performance

July 29th, 2015

| H O W T O C R E AT E A P R O G RA M T O E N S U R E YO U R S A L E S T E A M I S P E R F O R M I N G


Presenters

Brenda EnegrenDirector of Sales,Sendum Wireless

David CostinSolutions Architect

Maximizer CRM


• How Can You Ensure Your Sales Team is Firing on All Cylinders?

• How You Can Determine If Your Sales Team Is Successful

• What a Sales Process Should Look Like

• Sales Management Action Plan

Agenda


How Can You Ensure Your Sales Team is Firing on All Cylinders?


Imagine Dragons firing on all cylindersLas Vegas band quickly rises to arena status

The Vancouver Sun July 22, 2015


The Objective is to Get a clear picture of your Sales Team’s performance

The Objective is to Get a clear picture of your Sales Team’s performance


Not all companies use solid metrics to regularly measure sales performance, yet many companies are dissatisfied…

• 42% of organizations said sales people are generally performing below expectations

• 50% said the majority have scope for improvement

• 8% said most sales consultants are consistent peak performers

Source: Performance Practitioners global survey


How You Can Determine If Your Sales Team Is Successful


6 Key Performance Indicators (KPI’s) to Measure on a Monthly Basis:

1. Number of leads received 2. Conversion Rates: Number of leads

converted to opportunities 3. Number of leads that progress through

each stage of the sales cycle


6 Key Performance Indicators to Measure on a Monthly Basis.

4. Average length of the sales cycle 5. Number of Sales Won 6. Revenue generated• Existing vs. new customers• Vertical markets • Geography


How to measure? Use a CRM Solution


How the data can help you


In a study of 29 B2C and 13 B2B Companies, 1.25 million sales leads received Firms that contacted customers within 1 hour:

1. Are 7 times as likely to qualify the lead versus those that waited 1 hour later.

2. And more than 60 times as likely as companies that wait 24 hours

Qualify = Having a meaningful conversation with a key decision maker Source: Harvard Business Review March 2011

Measure your sales rep follow-up time


21% of Senior Sales Managers stated that poor sales process execution was a leading reason for losing deals

Source: Accenture, Top Five Focus Areas for Improving Sales Effectiveness Initiatives, 2013

The case for defining a strong sales process


What A Sales Process Should Look Like


Track and Record Every Stage of Your Sales Process:

Stage 1 = 0% - 10% probability to close

• Using your CRM you can track which leads are becoming sales opportunities and which are not

• Stage 1 progress will inform you about the effectiveness of your Marketing messages + sales team diligence early on

Stage 1 – Lead Identified


Stage 2 = 10% – 25% probability to close

• Your sales team will explore the business issue the customer is trying to solve

• Determine customer budget availability

• Timeframe for purchase

• Decision makers

• Determine overall fit with your product

Stage 2 – Customer Discovery



• Presentation to company decision makers

• Business case discussion • Product demo

Stage 3 – Sales Presentation and Business Case



• Presentation to additional company decision makers including senior executive team

• Product fit review – eliminate remaining stumbling blocks

• Second Product demo to broader customer group

• Ask “What do we have to do to make this happen?”

Stage 4 – Product Demonstration



• Presentation to additional company decision makers including senior executive team

• The pricing proposal is presented in context of a positive business case

• Customer champion is fully informed on pricing before formal price is presented- no surprises

Stage 5 – Price Proposal


Stage 6 = 95% probability to close

• Negotiations at this stage• All customer objections, concerns and

questions should have been addressed prior to this stage

Stage 6 – Sales Close


Sales Management Action Plan


• Leverage CRM to ensure every sales team member is completing each predefined sales stage

• For underperforming sales reps – use the CRM data to determine if the problem is a failure to follow your pre-defined sales process

Or…

• Lack of training? Other factors?

• Support them to learn & get back on track


Some Final Thoughts

• A clear and detailed view to the sales process data allows you to identify why and how you are successful

• By tracking the sales process you may identify other factors beyond your sales teams’ control:

• Territory sizing issues

• Fundamental product problems

• Competitive price undercutting

• Lack of marketing support

Tracking the Sales Process


Sales Performance – Business Predictability


Questions?


Thank You!

creating a program to improve sales performance

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