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TRANSCRIPT
Revenue Efficiency 101
Sales Enablement Society ConferenceSeptember 2018
Jerry Pharr, Director of Field Readiness, OutreachEmily Blau, Global Sales Enablement Program Manager, Proofpoint
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Agenda
1. Revenue Efficiency Mindset
2. Outreach Enablement Programs
a. Overview
b. Onboarding
c. Compete
d. Sales Process & Methodology
e. Hunting & Pipeline Management
3. Proofpoint Enablement Programs
a. Identify + Evaluate + Execute + Measure
b. Tool Highlight
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Revenue Efficiency Mindset
$1 Spent
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$??? Revenue
Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
$1 Spent
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$??? Revenue
Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
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But how?
Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
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Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
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consistent and repeatable processes / playbooks(making what they DO predictable)
consistent and repeatable story(making what they SAY predictable)
Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
What That Looks Like @ Outreach
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Onboarding
BootcampCurriculum
Mentor program
Enablement @ Outreach
Skill Training & Coaching
Discovery FrameworkDemo Framework
Competitive Readiness
Battle CardsPitch Reviews
Messaging & Content
Templates & sequencesMarketing collateral
Sales Central (Intranet)
Sales Motion
Sales ProcessCommand of the Message
Prospecting for AEsPipeline Management
Product Readiness
Bi-monthly readiness mtgMonthly elearning
Internal Communication
Top of Mind
Tool Training & Support
ProductivityOutreach
IntelDiscoverOrg, ZoomInfo,
Sales NavEnablement
Chorus, Showpad, MindTickle, Confluence
Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
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Onboarding
BootcampCurriculum
Mentor program
Enablement @ Outreach
Skill Training & Coaching
Discovery FrameworkDemo Framework
Competitive Readiness
Battle CardsPitch Reviews
Messaging & Content
Templates & sequencesMarketing collateral
Sales Central (Intranet)
Sales Motion
Sales ProcessCommand of the Message
Prospecting for AEsPipeline Management
Product Readiness
Bi-monthly readiness mtgMonthly elearning
Internal Communication
Top of Mind
Tool Training & Support
ProductivityOutreach
IntelDiscoverOrg, ZoomInfo,
Sales NavEnablement
Chorus, Showpad, MindTickle, Confluence
Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
Onboarding
Initial Situation● Large volume of new reps (2-6/month)● Too long to hit the “elbow”
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Onboarding for AEs @ Outreach(overhauled January 2018)
Monthly Weeklong Bootcamp for All Sales/Success Teams
Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
Topics Sample Daily Agenda
Key Concepts● Focus outward first--on the market into which you’re selling● Only what’s essential in bootcamp● Chunking & Scaffolding● Teach => Practice => Coach
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Onboarding for AEs @ Outreach(overhauled January 2018)
3-Month Onboarding ProgramCurriculum in LMS (MindTickle) Mentor & RVP Office Hours
Ramp Metrics
Curriculum Requirements● Training: Video tutorials/quizzes● Observation: Watching & scoring other reps’ calls (with rubric)● Practice: Submit pitches graded by mgr/enablement
(corporate messaging, objection-handling, compete) ● Coaching: Real meetings recorded and graded during mgr 1:1s (plus revenue, of course)
Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
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Onboarding for AEs @ Outreach(overhauled January 2018)
Reflections on Revenue EfficiencyResults (after 9 months)
● Curriculum completion: 100%● Avg pitch score: ↑ 37%
● Avg # calls: ↑ 37%● Engagement per account: ↑ 29%
● Self-sourced pipeline: ↑ 118%● Sales cycle: ↑ 13%
● Revenue per SAL: ↑ 275%● Win rate: ↑ 33%● On monthly revenue ramp target: ↑ 29%
Lessons LearnedBootcamp
● Product training more important when reps use what you sell
● Require presenters to give you quiz questions
● Create role-specific bootcamp experiences ASAP
● Agenda changes all the time -- not plug and play
● Only include topics that ○ participants need immediately OR
○ convince participants they made the right choice
Curriculum● What gets measured gets done (e.g., prospecting)
● 1:1 mentors are too demanding for mentors
● Top 5% performers not good models; top 5-15% much better
Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
Lear
ning
Activ
ityPi
pelin
eRe
venu
e
Competitive Readiness
Initial Situation● 3 competitors for the first 18 months, now 23● Dropping morale and competitive win rates
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Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
Competitive Readiness @ Outreach(overhauled May 2018)
Project CompeteIdentifying Who to Spend Time On
(per SFDC and per Slack)Crowdsourcing Internal Gurus for Battle Cards
(focus on stories and themes, not features)
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Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
Competitive Readiness @ Outreach(overhauled May 2018)
Project CompetePracticing The Talk Tracks
(video pitches scored in MindTickle)Recognizing Top Competitive Win Rates
(displacement vs head to head)
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Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
Competitive Readiness @ Outreach(overhauled April 2018)
Reflections on Revenue EfficiencyResults (after 4 months)
Competitive Win Rate (all new logo deals)Lessons Learned
● Don’t trust anecdotes about which competitors are emerging
● Don’t give in to requests for side-by-side feature comparisons
● Reps with highest win rates rarely talk about features
● Nip negative language in the bud
● It’s mostly a head game
● Create internal and external assets
○ Internal Battle card
○ Outreach Template
○ 4 slides each (story + 3 supporting themes)
Competitive Win Rate (only those that get past Discovery)
Sales Motion
Initial Situation● Low win rates● Low revenue per SAL● “Wild west”
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Sales Motion @ Outreach(overhauled February 2018)
Job Aids in Salesforce
New Sales Stages and Sales Process
Prescriptive Process
● Prescriptive for reps (here are the steps and the materials)
● Prescriptive for buyers (here are the next steps we’d recommend)
● Scoping & Propose stages
● Equipping champions to sell internally
● Demonstrating sales excellence
Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
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Sales Motion @ Outreach(overhauled February 2018)
New Sales Methodology
Command of the Message(how we articulate value and differentiation)
MEDDPICC(how we assess the health of opportunities)
Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
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Laminated “Cheat Sheets” for 4 Customer Use Cases
Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
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Laminated “Cheat Sheets” for 4 Customer Use Cases
Measuring Adoption:NOT: whether reps use the language/messaging
INSTEAD: whether buyers use the language/messaging
“Mr./Ms. Customer, in your own words …”
Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
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Sales Motion @ Outreach(overhauled February 2018)
Lessons Learned
● Demonstrating sales excellence is crucial when selling to sales
● Job aids & content for sales process: make them available in the workflow
● New methodology: rarely get it right the first time (adjust to make it work for you)
● Process & methodology changes take a while to show results (and top 5% will be slowest to adopt)
Reflections on Revenue Efficiency
Results● Win rate: ↑ 26%● Rep participation: ↑ 16%● Revenue per SAL: See below
330% lift in Revenue per SAL
Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
Prospecting & Pipeline Management
Initial Situation● Prospecting: Gradual transition to fewer SDR meetings per
AE; need to supplement● Pipeline Mgmt: New product capabilities
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AE Prospecting & Pipeline Management @ Outreach(overhauled June 2018)
Use Outreach duh :-)
● Named accounts, inc. 10-20 target accounts
● SDR collaboration
● Special sequences (e.g., referral, closed/lost opps)
● Content Collections for prescribed sequences
● Multi-channel (text, LinkedIn, call, email, snail mail)
● 55-75% manual steps
Prospecting
Create a Playbook
Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
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AE Prospecting & Pipeline Management @ Outreach(overhauled June 2018)
Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
SEESort/Filter opps by:Rep or TeamValueStageClose DateForecast category
ASSESSView opp health by:Historical activityIn a sequenceMtg scheduled
ENGAGEWork opps by:SequencingCalls/Emails/TasksMeetings
Pipeline Management
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AE Prospecting & Pipeline Management @ Outreach(overhauled June 2018)
Lessons Learned
Prospecting● Different hiring profile
● Manager alignment critical
● Research accounts thoroughly because of prior engagement
Pipeline Management● Completely changing how reps work
● Responses from “holy crap” to “meh”
● Fantastic for manager 1:1s
Reflections on Revenue Efficiency
Results (in 3 months)● Engagement per account: ↑ 36%● Self-sourced pipeline: ↑ 192%● Self-sourced revenue: ↑ 107%● Sales cycle: ↓19% (different than onboarding results)
● Revenue per SAL: ↑ 25%● Win rate: ↑ 12%
Revenue Efficiency Enablement @ Outreach Onboarding Compete Sales Motion Hunting & Pipeline Mgmt Proofpoint
Proofpoint
32CONFIDENTIAL
SALES ENABLEMENT REFINEMENT JOURNEYEmily Blau Global Sales Enablement Program Manager
33CONFIDENTIAL
DO YOU HAVE THE RIGHT TOOLS TO BE SUCCESSFUL?
VS.
34CONFIDENTIAL
Much like in sales we may not be using the most effective tools
Or we may not be maximizing the correct sales tools to their full potential
35CONFIDENTIAL
My sales enablement objective is not just to provide sales the resources they need to sell more, but to maximize their resources through ongoing training and refinement
36CONFIDENTIAL
THE SALES RESOURCE DILEMMA
37CONFIDENTIAL
THE SALES RESOURCE DILEMMA
You can’t expect reps to be successful if
they are not given the needed tools to do
their jobs…
You can’t expect finance to continue to pay for tools if
the company cannot measure the positive impact
on revenue…
38CONFIDENTIAL
THE SALES RESOURCE DILEMMA
You can’t expect reps to be successful if
they are not given the needed tools to do
their jobs…
You can’t expect finance to continue to pay for tools if
the company cannot measure the positive impact
on revenue…
If you want consistent,
predictable output You need consistent input
Refinement of your Tools & Processes
39CONFIDENTIAL
HOW TO REFINE THE SALES PROCESS
40CONFIDENTIAL
STEPS TO REFINING THE SALES PROCESS
• Identify a process that is clunky & needs refinement Identify
• Evaluate tools to make AE’s more effective Evaluate
• Execute the roll out of new sales tools & work cross functionally for continued trainingExecute
• Measure adoption & ROI to be able to purchase other tools in the FutureMeasure
41CONFIDENTIAL
STEPS TO REFINING THE SALES PROCESS
• Identify a process that is clunky & needs refinement Identify
• Evaluate tools to make AE’s more effective Evaluate
• Execute the roll out of new sales tools & work cross functionally for continued trainingExecute
• Measure adoption & ROI to be able to purchase other tools in the FutureMeasure
42CONFIDENTIAL
Executing
▪ Roll Out
▪ Managers → a few select teams → Entire Org
▪ Power Users ▪ Early access to new features
▪ Advanced trainings
▪ Opportunity to meet with leadership
▪ Office Hours
▪ Cross functional collaboration with Sales & Marketing Operations ▪ Data quality
▪ Messaging
▪ Campaign launch training
43CONFIDENTIAL
Measuring
▪ Adoption
▪ Daily, Weekly, Monthly
▪ Create custom fields in SFDC to track revenue attribution to a particular tool or initiative
▪ Set a baseline
▪ Are top adopters → top performers
▪ Monitor closely
▪ Measure impact on pipeline ▪ This month, quarter, year
44CONFIDENTIAL
OUR LATEST TOOL TO IMPROVE REVENUE EFFICACY: OUTREACH
45CONFIDENTIAL
RESULTS:
▪ Increased activity due to greater visibility
▪ Improved data quality with automation
▪ Correlated activity and content to revenue- What content generated opportunities not just
replies
- How much activities on avg lead to opportunity
Look for tools that will provide you more actionable data
46CONFIDENTIAL
BUILD YOUR COMPANY’S TOOL BELT
CRM
Content Library
Sales Engagement Process/Tool
Thank You