Demystifying the Sales Tech Stack | Veelo
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The document outlines a framework for building an effective sales tech stack to enhance sales performance, focusing on the sales process, administrative support, people development, and business intelligence. It emphasizes the importance of defining business challenges before evaluating technology options, and highlights key considerations when engaging vendors. The conclusion reiterates the need for a strategic plan and understanding specific sales problems to choose appropriate solutions.
Demystifying the Sales Tech Stack | Veelo
- 1. Demystifying the Sales Tech Stack Brian Fravel VP of Marketing, Veelo @veeloinc @fravelb
- 2. 2 Agenda • Scope / considerations • Framework • Walk through the framework with example companies
- 3. 3 Scope • Focus is on act of selling and improving sales performance • Out of scope • Customer retention, customer service • Martech stack • CRM & marketing automation • Framework to help decide needs and ask potential vendors the right questions • Not an exhaustive list of logos (à la Chiefmartec.com martech stack) • Prioritized simplicity http://chiefmartec.com
- 4. 4 Key Considerations • Vendors don’t fit neatly into a single box • Some do only one thing, some cover multiple use cases/capabilities • Vendors tackle the same problem differently and at different levels • Define your business challenge before diving into evaluation of technology This is one point of view for a fast-paced, changing landscape. It’s fluid. Not static.
- 5. 5 Last Word of Caution Without a strategy and plan, your sales tech stack will end up looking like this:
- 6. 6 Defining the Sales Tech Landscape
- 7. 7 Sales Tech Stack Framework The Sales Process Administrative SupportPeople Development Business Intelligence & Analytics • Forecasting • Quota management • Comp/Incentives • Territory Gather Information • Contact information • Lead augmentation / enrichment data What you do to sell • Presentation tools • Sharing tools • What should you say and share? • Content management What you do to close • CPQ • Contract & signing Decide who to contact • Lead prioritization / predictive lead scoring – (who to call &when) • Account based selling • Pipeline management • Account planning • Email automation • Phone/dialer automation • Social selling • Scheduling tools • Online meeting tools How you contact • Onboarding & training • Coaching
- 9. 9 Gather Information Sales Process Business Challenges: • I want to target my product at X audience. I need contact information. • I have some information, but need more (e.g., title, phone, email, etc.) Example Companies: Key Considerations: • Quantity vs quality • One-time or ongoing need? • Target buyer
- 10. 10 Decide Who to Contact Sales Process Business Challenges: • How do I maximize rep time by focusing on leads with highest probability to close? • How do I make sure reps are contacting leads at the right time and right frequency? Example Companies: Key Considerations: • Approach: account based vs all leads • Sales Development Rep vs Inside Sales vs Field Sales
- 11. 11 How You Contact Sales Process Business Challenges: • How do I efficiently and effectively communicate with a prospect? Example Companies: Key Considerations: • Communication needs • SDR vs inside sales vs field sales Call Automation Online meetingCalendaring Cross-channel communication (email, social, mobile, etc.) Social
- 12. 12 What You Do to Sell Sales Process Business Challenges: • What do the reps need to know, say and do in the sales conversation? • How do I make sure reps stay on message, share the right content and sell on value? Example Companies: Key Considerations: • Content/presentation • Coaching
- 13. 13 What You Do to Close Sales Process Business Challenges: • Quickly create a quote and move from “quote to cash.” Produce quotes configured to opportunity based on defined business rules. Get the contract signed and official. Example Companies: Key Considerations: • Product line complexity • Pricing complexity and flexibility • Pricing approval process Configure, Price, Quote (CPQ) Digital Signing
- 15. 15 People Development Knowledge / Skills Business Challenges: • How do you onboard quickly and effectively? • How do you maintain high performance from sales reps with the right knowledge and coaching throughout their career? Example Companies: Key Considerations: • Contextual coaching vs ad hoc/non-contextual • Micro-learning tools for post training reinforcement • Sales training solution vs corporate training solution Onboarding & Training Coaching
- 17. 17 Administrative Support Business Challenges: • How do I make sure I have the support functions in place to make sure my sales organization runs efficiently and effectively? Example Companies: Key Considerations: • Product offering complexity • Sales force size Forecasting Administrative Support Commissions & Quota Management Recognition
- 18. 18 Business Intelligence / Analytics
- 19. 19 Business Intelligence & Analytics Business Challenges: • How do I draw actionable insights from all this data? • How do I report the full sales process picture vs snapshot of a piece of it? • My GM wants the data sliced and diced this way… Example Companies: Key Considerations: • Amount of data • Reporting needs • Number of software tools Business Intelligence & Analytics
- 20. 20 Sales Tech Stack Framework The Sales Process Administrative SupportPeople Development Business Intelligence & Analytics • Forecasting • Quota management • Comp/Incentives • Territory Gather Information • Contact information • Lead augmentation / enrichment data What you do to sell • Presentation tools • Sharing tools • What should you say and share? • Content management What you do to close • CPQ • Contract & signing Decide who to contact • Lead prioritization / predictive lead scoring – (who to call &when) • Account based selling • Pipeline management • Account planning • Email automation • Phone/dialer automation • Social selling • Scheduling tools • Online meeting tools How you contact • Onboarding & training • Coaching
- 21. 21 Conclusion • Plan before you act • Know the problem you want to solve before engaging vendors • Choose the solution that solves your need—biggest isn’t always best • Come back for more veeloinc.com/subscribe
- 22. 22 Thank You!