Increase Sales Effectiveness & Close More Deals With Oracles Complete CRM
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The document outlines Oracle's insights on improving sales effectiveness through complete CRM solutions, addressing current megatrends such as customer-driven dynamics, cross-channel mobility, real-time decision-making, and the integration of cloud computing. It emphasizes the importance of aligning processes, resources, and people to support sales performance while also providing actionable insights and coaching for sales teams. Key takeaways include the necessity for better forecasting, stronger pipeline management, and effective use of sales analytics to drive revenue growth.
Increase Sales Effectiveness & Close More Deals With Oracles Complete CRM
- 1. 1 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 2. Increase Sales Effectiveness & Close More Deals with Oracle’s Complete CRM Kirk Mosher Vice President, CRM & eCommerce Product Marketing 2 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 3. Safe Harbor Statement The preceding is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle. 3 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 4. Agenda • Megatrends • Business Challenges • The Opportunity • Customer Successes • Key Takeaways 4 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 5. MEGATRENDS that are redefining sales 5 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 6. Megatrends Shifting How Business Is Done Customer- Customer-Driven Cloud Computing Cross- Cross-Channel Mobility Real- Real-Time Decisions Social Media 6 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 7. Megatrend: Customer-Driven Customers are more independent and informed Change Drivers • Product commoditization • Shift to buyer-driven market • Decrease in customer loyalty Business Implications • Differentiate your customer experience • Expand your channels of customer engagement • Incent and reward customer loyalty 7 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Source: The Conference Board, CEO Challenge 2010
- 8. Megatrend: Cross Channel The buying journey has become more complex Number of Channels for Change Drivers a Single Transaction • Multiple channel buying process 30% of Customers Use 3 or More Channels • Channel silos creating frustration • Impacting loyalty and retention Business Implications • Create unified view of customers • Connect each interaction across the buying journey • Integrate processes across channels 8 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Source: ATG-sponsored, independent survey of 1,054 US consumers.
- 9. Megatrend: Real-Time Decisions Speed of business is outpacing traditional batch mode analytics Change Drivers “BI is front • Multi-channel options • Shift in buyer behavior and center • Move to customer-centricity on Business Implications • Optimize every interaction and offer everyone's • Adapt to the customer in real time agendas.” • Provide relevant and personalized offers and information 9 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 10. Megatrend: Cloud Computing Shifting deployment model for business applications Change Drivers “By 2012, 80% • Shrinking IT budgets of Fortune 1000 • Pay as you go: OPEX vs. CAPEX enterprises will • Perceived time-to-value use some level of Business Implications cloud computing • Assess appropriate deployment option services.” • Integrate processes across cloud and on premise applications • Must ensure security and compliance 10 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 11. Megatrend: Mobility Smart mobile devices are changing the way we work and play Change Drivers • Global adoption of smartphones • Growth in web and mobile apps 2.4 Days • New browser-based media tablets Business Implications a Week • Enable access anywhere • Reduce redundant tasks • Support disconnected activity 11 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Source: The Alexander Group and Pace Productivity Inc.
- 12. Megatrend: Social Media New ways of interacting are changing the business landscape Change Drivers • New paradigms of interaction • Increasing speed of learning • Shift of power to customers Business Implications • Monitor the social conversation • Create social channels of customer engagement as appropriate • Enables collaboration across teams 12 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 13. BUSINESS CHALLENGES 13 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 14. Business Challenges – VP of Sales • #1 Growing revenue and delivering your numbers • #2 Accurately forecasting revenue and doing it consistently over time • #3 Delivering your number while staying within your headcount and expense budget 14 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 15. Consider these numbers… 81 % missed guidance in last 12 months 89 % reps aren’t getting enough coaching 85/29 % leads qualified – marketing vs sales <24 months is average tenure of a VP of Sales 15 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Sources: 1) CSO Insights; 2) Corporate Visions Inc.; 3) SIRIUS Decisions; 4) Thomson Reuters
- 16. What’s Keeps a VP of Sales Up at Night? Is my team’s forecast accurate and real? How can I help my team win more business? How can I improve the quality of my pipeline and reduce time spent on dead-end deals? How can I get my company to move faster when the deal is on the line? 16 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 17. The Key is Better Sales Performance x = Existing Sales Increased Resources Performance Revenue 17 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 18. The Challenge… $ M1 M2 M3 18 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 19. #1 Know Where You Stand $ M1 M2 M3 19 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 20. #2 Provide Support at the Point of Action $ M1 M2 M3 20 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 21. #3 Generate Better Opportunities $ M1 M2 M3 21 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 22. #4 Align Everything Behind Your Success $ M1 M2 M3 22 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 23. Keys to Improving Sales Performance 1. Gain confidence in your team’s forecasts 2. Provide coaching when it really matters 3. Build a stronger pipeline of real opportunities 4. Align process, resources & people behind your success 23 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 24. INSIGHT 24 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 25. Companies using sales analytics/forecasting tools outperform others by 1.3 times in achieving their overall annual sales quota. Source: Aberdeen Group, October 2010 25 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 26. Gain More Actionable Insight • Improve forecast accuracy and sales pipeline visibility • Consolidate past, present and future forecast details in one location to better predict trends • Access real-time synchronization between opportunities & forecast 26 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 27. Gain More Actionable Insight • Increase productivity by accessing and sharing prebuilt reports and dashboards • Enable inline editing of sales forecasts by sales managers • Empower users with critical insights wherever and however they work 27 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 28. “Before implementing Oracle CRM On Demand, we lacked important sales call metrics, including the ability to map calls to outcomes. Now, we have clear visibility into the complete call lifecycle.” Michael Bell Inside Sales Manager, Equifax “Equifaxincreased inside sales revenue by 10% in the midst of the economic downturn” 28 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 29. COACHING 29 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 30. “Progressive organizations recognize that in a down economy, efforts to improve the coaching skills of frontline sales managers have a greater ROI compared to other similar training investments made on sales reps, in terms of their direct impact on overall sales performance.” The Corporate Executive Board 2009 30 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 31. Deliver Better Sales Coaching 31 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Source: CSO Insights, 2011
- 32. Deliver Better Sales Coaching • Utilize your best sales practices to streamline the sales process • Provide sales-specific coaching to empower reps • Implement sales methodologies to increase consistency 32 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 33. PIPELINE 33 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 34. An estimated 70-90% of leads generated by marketing are never followed up by sales. Source: Marketing Sherpa 34 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 35. Improve the Sales Pipeline Common Strategy, Common Definitions Unqualified Lead Qualified Opportunity List Purchases Collateral Lead Sales Email Generation Qualified Sales Win Webinars and Capture Lead Tradeshows Other Data Sources Marketing Mix Feedback Lead Recycling End to End ROI and Impact Metrics 35 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 36. Improve the Sales Pipeline • Develop common lead scoring criteria to improve lead quality • Design adaptive 1:1 marketing campaigns to increase conversion rates • Create progressive profile of needs and interactions to shorten sales cycle and improve close rates 36 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 37. “Oracle CRM On Demand enabled us to gain groupwide visibility into the sales pipeline. We also gained the ability to automate key sales management processes and close the data loop across our enterprise and third-party systems to ensure information accuracy and process efficiency.” Bob Rohr Vice President, Americas Commercial Sales Operations and Business Support, Graphic Communications Group, Eastman Kodak Company 37 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 38. ALIGNMENT 38 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 39. “Today, 30 to 35 percent of a salesperson’s face time is spent with the customer. Salespeople spend too much time on administrating, expediting orders, arguing over receivables, and finding late shipments.” Source: Jack Welch, former CEO, General Electric Company 39 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 40. Align Processes Behind Your Success Capture Orchestrate Fulfill Quote / Order Capture Orchestrate Orders Logistics Web Create Transaction Inventory Mgt Select and Configure Products Order Decomposition Warehouse Mgt Create Shipment Expectations Order Orchestration Shipping / Receiving Check / Reserve Inventory Distributed Inventory Transportation Mgt Social Negotiate Terms Order Workbench Manufacturing Networks Determine Tax Data Transformation Discrete MFG Capture Payment Process MFG Mobile Validate and Submit Order APS Advanced Planning Manage Order Global Order Promise Order Status Inquiry Field Service Store Modify Order Scheduling & Dispatch Cancel Order Dropship Dispatch Return Order Internal Finance Network Renew Order Network* AP / AR / GL Kiosk Partner Billing / Invoicing Network 40 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 41. Align Processes Behind Your Success • Optimally source and orchestrate orders, and streamline and expedite fulfillment • Quickly introduce new products, promotions & pricing to achieve operational excellence • Optimize and manage pricing to achieve higher margins 41 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 42. "Oracle Siebel Order Management provides us with perfect support for our new delivery business without having to massively adapt the existing heterogeneous environment. Considering that we deployed it in more than 30 countries worldwide, one of the major highlights, from the IT perspective, is that we can directly upgrade to new versions.” Sven Prüssing Senior Department Manager of CRM, METRO SYSTEMS Gmb “MetroSystems rolled out this solution quickly and successfully across 23 countries in 2 years” 42 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 43. RESOURCE OPTIMIZATION 43 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 44. “In 2010, the percentage of reps meeting or beating quota hit the second lowest level this century at 51%. The lowest was 49% following the dot.com implosion...” Source: CSO Insights 2011 44 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 45. Align Resources Behind Your Success • Improve sales performance with more efficient territories, quotas and incentive compensation plans • Align quotas and territories with company objectives to create better sales plans • Optimize coverage in territories and make reps more efficient 45 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 46. Align Resources Behind Your Success • Align incentives to sales goals and track payments to increase motivation • Create and monitor incentive plans, payments, and adjustments 46 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 47. COLLABORATION 47 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 48. “Firms employing collaboration outpace their non-collaborating peers at the high-end of this scale by 2:1 in both initial meetings leading to a presentation and proposals leading to a sale...” Source: CSO Insights, 2011 48 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 49. Align People Behind Your Success 49 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 50. Align People Behind Your Success • Empower users with a single, unified view of real-time business activity & changes • Stream relevant insights and subject matter expertise • Collaborate with your network to gain quick visibility into activities with real time, actionable updates 50 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 51. Keys to Improving Sales Performance 1. Gain confidence in your team’s forecasts 2. Provide coaching when it really matters 3. Build a stronger pipeline of real opportunities 4. Align process, resources & people behind your success 51 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 52. KEVIN RAYBON Former GM, Sales Operations, NEC Founder, CRMtrifuge.com 52 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 53. NEC Increases Sales Efficiency and Effectiveness PROFILE • NEC Corporation of America is a $1B technology company • Sells telecommunications, network and high performance computing platforms and services through a network of dealers and direct key account teams • NEC global revenue $45B • NEC America revenue > $1B Results - NEC saved 200 hours monthly in reporting tasks 53 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 54. Best Practices for Successful CRM Implementation • Start Small, Think Big, Scale Quickly • Build a Roadmap & Know Where You are Starting • Demonstrate Executive Leadership Support Early and Often • Focus on Process Over Product • Don’t Underestimate the Organizational Change Required 54 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 55. PARTHA SRINIVASA Group CTO & Global CIO, Group IT Shared Services, Zurich Financial Services ORACLE PRODUCT LOGO 55 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 56. Zurich Gains Increased Visibility Into Sales Pipeline PROFILE • Farmers Insurance Group operating under its parent company Zurich Financial Services, is the third-largest provider of personal lines automobile and homeowners insurance in US. • Farmers operates in 50 states and DC, serving over 15 million customers • Zurich annual revenue $70 billion • Farmers annual revenue $20 billion Results - Zurich increased agency business by 20% with Oracle 56 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 57. Program Functional Scope – My Field Point 57 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 58. Key Takeaways $ M1 M2 M3 58 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 59. The Key is Better Sales Performance x = Existing Sales Increased Resources Performance Revenue 59 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 61. Stay Connected… Read blogs.oracle.com/CRM Watch youtube.com/OracleCRM Follow twitter.com/OracleCRM Join facebook.com/OracleCRM Learn oracle.com/CRM Use and Follow #OOW11CRM for LIVE UPDATES during the conference 61 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 62. Q&A 62 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.
- 63. 63 Copyright © 2011, Oracle and/or its affiliates. All rights reserved.