Optimizing Your Sales Stack for Exponential Growth in 2016
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Jake Dunlap, CEO of Skaled, discusses optimizing sales organizations for growth in 2016, emphasizing trends in sales strategy, operations, and technology. He highlights the importance of automation, data management, and the need for training to enhance sales processes and improve performance. The document also addresses challenges like data overload and long ramp-up times while proposing solutions for effective sales team management.
Optimizing Your Sales Stack for Exponential Growth in 2016
- 1. Jake Dunlap, CEO @ Skaled Bowery Capital CRO Summit 2015 Optimizing Your Sales Stack For Exponential Growth in 2016
- 2. VP of Sales at glassdoor.com Raised over 160 million dollars Took the company from 0-40 person sales team in 16 months CEO of Worked with over 40 mid-staged startups over the last 16 months Companies have raised nearly 200 million dollars in funding and generated millions of dollars in new revenue A Little About Me
- 3. At Skaled, we revolutionize revenue development by transforming clients’ sales organizations into machines Demand generation to grow your top-of-funnel with qualified appointments Training led by practitioners who optimize & modernize sales processes, technology & organizations Process: Advancing your playbooks and scripting to increase success in qualification, proposal and closing Technology: Assessing 21 key areas of technology, we implement and maximize the right systems for your needs and goals Organizations: Specializing roles, making data-backed hiring decisions, rapidly onboarding & building a winning culture to retain top talent.
- 5. TRENDS IN 3 KEY AREAS 1. Organization 2. Operations 3. Processes
- 6. Trends in the Sales Organization
- 7. Trends in the Sales Organization: Growing Pains 29% sales orgs planning for growth in 2016 But need to battle….. Long ramp: 40% orgs report 7-12 month ramp time High turnover: average rep turnover now 34% Source: Qvidian Report: Accelerating Sales Rep Ramp Time
- 8. Trends in the Sales Org: Technology Augmenting the Sales Force Purchases are driven by buyer behavior & competition Prospects are receiving more emails and calls – takes 18 dials to connect with a buyer1 73% companies plan on sales development tech purchase 20151 Technology will replace humans in some areas By 2020, 85% customer interactions with the enterprise will be managed without talking to humans2 1TOPO Sales Development Technology Report 2Gartner Source: TOPO Sales Development Technology Report
- 9. Trends in Sales Operations
- 10. Trends in Sales Ops: Data Availability vs. Data Usefulness 4 in 5 sales leaders are challenged by the amount of data available1 89% of salespeople are missing opportunities due to information overload1 4,300% projected increase in annual data generation by 20202 Data Overload Only getting worse… 1Lattice: Why Big Data is a Big Deal for Sales 2CSC
- 11. Predictive Analytics Source: Gartner Predictive hit marketing first Moving into sales…. Source: Gartner
- 12. The Rise of Predictive Analytics Source: Salesforce State of Sales Report
- 13. Trends in the Sales Process
- 14. Changes in the Sales Process Changes in Models & Tech: 46% of businesses are moving to an inside sales model1 Customer success tech à 20% increase in up-sell revenue and 50% higher retention rates2 Growing Need for Automation: Only 2% of cold calls result in an appointment – and it takes an average 6.25 hours to set 1 appointment3 Companies with automated lead management see a 10% or greater increase in revenue after six to nine month4 1HBR 2Gainsight 3Buzzbuilder 4Hubspot Source: Salesforce State of Sales Report
- 15. Know your options Reference Bowery Capital Guide to Startup Sales Tools 2.0
- 16. Manage & Grow Your Team Interviewing: Take the Interview Onboarding & Training: Grovo Coaching & Incentives: Rivalry, Hoopla Employee feedback: 15five, Workcompass Focus: Technology that will streamline hiring, make training more efficient and comprehensive, and increase retention. Bowery Capital Guide to Startup Sales Tools 2.0
- 17. Manage & Grow your team Bowery Capital Guide to Startup Sales Tools 2.0
- 18. Optimize Operations CRM & Predictive: CRM: Salesforce Predictive: Infer Optimization: Operations: Insight squared, Lattice Data Management: Data entry: RingLead, Zapier Focus: Technology that allows you to automate & analyze your pipeline, providing actionable insights that enable quick data-backed decisions. Bowery Capital Guide to Startup Sales Tools 2.0
- 19. Optimize Operations Bowery Capital Guide to Startup Sales Tools 2.0
- 20. Optimize the Sales Process Smarketing: Social sales: Socedo Alignment: ListenLoop, Spiderbook Sales development: Lead gen: Salesloft, LinkedIn, Datanyze Email management: Outreach Sales: Calling: ConnectAndSell Customer success: Customer success: Gainsight Customer engagement: Skilljar Focus: Technology that will streamline the sales process, and allow you to better understand and target, with more high- quality conversations.
- 21. Optimize the Sales Processes Bowery Capital Guide to Startup Sales Tools 2.0
- 22. ASSESS & PRIORITIZE Needs Analysis: TOF & Pipeline Diagram Lead & Technology Flow Talk to Your Team Make the Decision Selling to Leadership
- 23. Assessment Step 1: Needs Analysis TOF What is our ICP? Where are our target prospects & how do they want to be engaged? How do we generate leads? Lead flow diagram à VS. how do we want to generate leads? Source: ringio TOF:
- 24. Assessment Step 2: Needs Analysis Pipeline & Metrics What does my sales cycle look like? What type of information do our buyers consume as they move through their buying process? What type of information do I need to report? Tracking trends to determine what matters: Stage to stage conversion rates Average deal size Sales Cycle Opportunity Pipeline Source: ringio
- 25. Assessment Step 3: Diagram Your Technology Flow Source: ringio
- 26. Don’t forget: talk to your team Use tools to streamline processes and allow reps to spend more time with prospects Ask your team about their biggest pains
- 27. Discovery Research Resources: Bowery Startup Sales Tools G2 crowd reviews
- 28. Deciding to invest What is the impact of solving the pain point? What will the project cost? How will your project disrupt existing workflows ? How long before the project proves ROI? Why should we prioritize over other projects? Most importantly: Don’t make the investment in a new tool unless you’re ready to also invest in necessary training and support to maximize the tool. Source: Insight Squared Sales Ops Handbook
- 29. Selling to Leadership: Proving ROI Source: Insight Squared Sales Ops Handbook
- 31. Sales reps waste over 50%1 of their time every day just trying to access the tools and content needed to do their job 1CSO Insights 2TopoHQ 3Qvidian Consequences of Poor Training & Support Only 15% of sales technology purchases result in increased revenue2 Source: Qvidian Report: Accelerating Sales Rep Ramp Time
- 32. Improving Adoption FOCUS ON THE WHY Readily Available Materials Use the sales training materials post training Make sure tools and workflows are added to sales playbooks Build Support & Feedback Infrastructure Make sales rep and manager interactions work Use metrics for reinforcement Source: Vorsight
- 33. PREPPING FOR THE FUTURE
- 34. Prepping for the future: Automating Calls & Analytics Optimizing the sales process with automatic dialers & predictive analytics Takes 18 dials to connect with a buyer1 Source: Infer Source: Salesforce State of Sales Report 1TOPO Sales Development Technology Report
- 35. Conclusions Changing buyer behavior à growing need to automate the sales process Successful teams are already adopting tech and you can’t compete without it You need a process to strategically decide on tech investments Your systems & team must be agile to experiment & implement new tech You must commit to training & support
- 36. Thank you! Email me with any questions or comments jake@skaled.com Follow me @JakeTDunlap Follow Skaled @Skaledcom