Optimizing your Sales Stack in 2016
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The document outlines three strategies for enhancing sales performance in 2016: specialization of inside sales teams, a seamless sales process, and the creation of an effective sales tech stack. It emphasizes the importance of organizing sales teams for better efficiency and outlines steps for structuring a sales process that is well-documented and tracked. Finally, it introduces a tech stack development process, highlighting key activities and metrics to consider for successful implementation.
Optimizing your Sales Stack in 2016
- 1. 3 STRATEGIES FOR OPTIMIZING YOUR SALES STACK AND ACCELERATING SALES IN 2016
- 2. Today’s Speakers Gabe Larsen Director of Strategy InsideSales.com @GabeLarsen glarsen@insidesales.com Matt Behrend Co-Founder & CSO DemoChimp @MattBehrend matt@demochimp.com
- 3. AGENDA Accelerating your sales growth in 2016 will depend on how well you understand and execute three strategies: • How to use specialization to organize your inside sales team • The steps for developing a seamless inside sales process • Building your sales tech stack for 2016
- 4. MAPPING OUT A SPECIALIZED INSIDE SALES ORGANIZATION
- 5. HENRY FORD
- 6. Specialist vs Generalist 7pt Higher close rate InsideSales.com
- 7. Demand Generation Inbound Inquiry Outbound MM & Geo List Purchasing Operations Sales Engineer Sales Engineer Self-Sourcing Inside Sales MM & Geo Channel Mgr Social Selling Channel Event Inside Sales ENT & Geo Field Sales Client Success MM & Geo Client Success ENT & Geo Client Success Field Outbound ENT & Geo Outbound Field & Geo Sales Engineer Sales Engineer Implementation MM & Geo Implementation ENT & Geo Implementation Field Product Support Expander Expander Expander Expander Inbound Response Demand Gen SDR Sales Client Success
- 8. Demand Generation Inbound Inquiry Outbound MM & Geo List Purchasing Operations Sales Engineer Sales Engineer Self-Sourcing Inside Sales MM & Geo Channel Mgr Social Selling Channel Event Inside Sales ENT & Geo Field Sales Client Success MM & Geo Client Success ENT & Geo Client Success Field Outbound ENT & Geo Outbound Field & Geo Sales Engineer Sales Engineer Implementation MM & Geo Implementation ENT & Geo Implementation Field Product Support Expander Expander Expander Expander Demand Gen SDR Sales Client Success Inbound Response
- 9. THE PATH TO SPECIALIZATION Generalist Account MgmtSales CloserLead Gen Out In Geo SuccessGrowth 1 2 2 3 3 455 6 6
- 10. Area of Concern Area of Concern Demand Generation Territory Manager Client Account Manager Outside Channel Manager Channel Development Reps Product Specialist Renewals Team Customer Service Team Renewals Portal Customer Account Team Direct Marketing TeamVAR Generates leads PartnerorPassBiggerDeals Partners for specific areas Work with large VARs Partner with TM to support VAR Opps Partneronchanneldeals Partner to expand channel QualifyUpsellOpps Close Deal Current Sales Structure
- 11. Demand Generation Territory Manager Client Account Manager Outside Channel Manager Channel Development Reps Product Specialist Renewals Team Customer Service Team Renewals Portal Customer Account Team Direct Marketing TeamVAR PartnerorPassBiggerDeals Partners for specific areas Work with large VARs Partner with TM to support VAR Opps Partneronchanneldeals Partner to expand channel Qualify Upsell Opps Close Deal Phase One Future State Structure Sales Development Generate Leads Set Appointments Leads: Tradeshows, web, chat Accounts: Current Clients
- 12. Micro Team US Team International Team <30 Min Team Generate Opps through webinars Demand Generation Tyler Hand Raisers & Assign Orientation Account Rep Early Pay-Off Team Vanessa All other leads: assign CURRENT SALES STRUCTURE Area of Concern Area of Concern
- 13. Micro Team US Team International Team Generate Leads through webinars Demand Generation Orientation Account Rep Early Pay-Off Team Qualifier Team Auto-Dupe, Score & Route PHASE ONE FUTURE SALES STRUCTURE Live Transfer/Set Appt
- 15. I’VE NEVER MAPPED OUT MY SALES PROCESS BEGINNING TO END Says Everybody
- 16. Sales Process 25% Of companies have no documented or adopted sales process CSO Insights
- 17. Current State Sales Process Phase One: Lead/List Acquisition Phase Two: Contacting Cadence Phase Three: Qualification & Close
- 18. Referral Request (duplicates, etc.) Research Google Sales Navigator SFDC Notes/History First Dial + VM + Email Contact YES Contact Later Make notes in Notebook/ Tasks/Calendar to follow up YES Interest NO Interest Contact NO Account Status VM (Email) Attempt Again Done Needs Assessment/Qualification More time Needed Done Save notes in SF Assign to appropriate group Presentation Notes into SFDC Contacts Review folllow-ups Additional research Plan out future contact periods Task Mgt Time Close Data Research Data Cleanup Second Dial Varied Lead Sources VM / Email Notes in SFDC / Follow—up forms Contact YES Contact NO Check calendar / Thumb through follow-up forms 10-15 min 10-20 min Task Mgt Time Metrics Inefficiently Tracked 2-3x Persistency: attempted contacts Calls/Day Lack of Immediacy First touch: Email 40 Calls/Day
- 19. 8X Accounts Salesforce Quick notes check Attempt Contact Contact YES Contact Later Call back using PowerDialer™ YES Interest NO Interest Contact NO Account Status VM (Email) Done Needs Assessment/Qualification More time Needed Done Save notes in SF Assign to appropriate group Create Opportunity Presentation +20% Persistency: attempted contacts Contact Rate 60+ Calls/Day Real-timeanalysis,Prioritized Lists PowerDialer™ LocalPresence™ Engagement Tracking: Vision™ Gamification +20 NeuralView™ +4.5 3 mins Research Time Call back using PowerDialer™ PowerDialer™
- 20. KEYS TO MAPPING YOUR SALES PROCESS - Know functional areas - Map “as is” - Find strengths and weaknesses - Create future state - Have governance structure
- 21. Website Chat Deal Reg Tradeshows SF Routing SalesForce Pardot Hot/Card Cold/Scan Nurture Activity ExportTalk to Sales Import/Assign Queue No Activity Stay in Pardot View Lead Queue Change Owner Find Duplicates Research Client Account Team Leads Phase One Attempt Contact Partner Direct Interested TM Not interested Call Back No Contact Status: Unqualified+ Why Good SF Task/Outlook Log a Call Bad Ask Manic Questions Add notes to activity history Convert Create Acct and Opp Merge with existing Acct Ask about Partner NoAcctAcct Find a partner Find partner contact Work Opp Stages Closed Pending Customer Service Phase Two Phase Three Initiate Chat No lead Lead Enter into SF Hand to TM Open Fav Reports Sort by last activity Open multiple tabs Check history (No Opps, No Dupes) Don’t do anything Interested CAT Ask basic questions Log a Call Create a lead Access lead Change Owner Set Appointment Hold Appointment Good Bad Don’t call
- 22. BUILDING YOUR SALES STACK IN 2016
- 23. WHY? EXAMPLE TECH STACK STEPS 1 - 6
- 24. (CONFUSED IMAGE, BULLETS WITH MISCONCEPTIONS AND COMMON QUESTIONS “WHERE TO START?”) WHERE TO START??
- 25. EXAMPLE TECH STACK CRM Dashboard/Analytics/Predicting Data Provider Communication Demo Automation Training/Coaching Customer Success
- 26. A TECH STACK PROCESS Step 1: Map it out Step 2: Key activities and metrics Step 3: Find tech Step 4: Prioritize and Buy Step 5: Implementations Step 6: Repeat
- 27. MAP IT OUT My process
- 28. KEY ACTIVITIES AND METRICS Key Activity Key Metrics / Output Managing Customer Records Segmentation, Forecasting Measuring Everything New Bookings, Expansion Rev Creating and Appending Lists Data Quality, Connections Calling, Emailing, Social Dials per day, Lead Velocity Demoing / Stakeholder edu. Close Rate, Sales Cycle Coaching Production Per Rep Managing Adoption / Implem. Usage, Time to Value, Churn
- 29. FIND TECH I’m looking for a solution to … (Key activity or metric here)
- 30. PRIORITIZE AND BUY Tiered buying strategy Click level walk through Effect on CX Contracts Pilot vs Phases
- 31. IMPLEMENTATION Change Management Dedicated testing team Baseline Metrics/Targets/Actual Pitfalls
- 32. REPEAT
- 33. RESULTS AT Outbound: 25 TQOs / Rep / Month Inbound: 50 TQOs / Rep / Month SMB AE: $75k / Rep / Month Up from 12 Up from 20 Up from $30k
- 34. 6 PART BLOG How to manage your tech stack @MattBehrend
Editor's Notes
- #6: Think about it. Assembly line sales. That’s what Henry Ford to to manufacturing. He revolutionized it by creating an assembly line, staffed with all kinds of specialists excelling in their individual skill sets to contribute to the quality of the whole. Whether you like it or not inside sales has slowly moved in this same direction. Rather than rely on one sales person to do everything—prospect, qualify, sell, close and continually manage the account—multiple sales specialties have been created along the sales conveyer belt (CRM). And like a manufacturing plant, this allows for more throughput and better quality performance.
- #7: We did a study in partnership with Dr. James Olldroyd a fellow at MIT and he fundamentally proved the generalist model – where one person qualifies and closes and manages is wrong. If you can split your closing activites from your appointment setting acitivites you have a 7pt higher close rate.
- #8: So how does this look? How are companies specializing. I want to show you what I’ve found. Having been at InsideSales.com for 3 years I’ve seen over 250 sales models from 3m and netapp to docusign and apptus. Here is how companies are specialzing. Are you ready? The demand generation focus plays a predominant role with a dedicated events team to help generate demand. The SDR function is blowing up. My favorite is the inbound response team and the outbound prospecting team as well as a dedicated social selling team. Oh my goodness. A dedicated social selling team that resides in the SDR function so that not every sales rep has to waste time parroosing Linkedin is genious. On the closing side it’s often broken up by territory, product, and vertical and it’s suported by some form of a sales enginnerr. The success organization is morphiing as we speak. You have a client success manager, and implementaiton consultant and a support org but just recetnly we’ve started to see more of that role called an expander or strategic growth consultant that’s dediced the upselling and cross selling so the client success manager can focus on client success.
- #9: Can you belive it? What 20 years ago used to be one person is now 20 people and you know what? The qualifty and qualify is increasing. Now this is a velcity model, this is a machine!
- #10: Now people always ask? Gabe what’s the path to specialization. Look every company is unique but often there is tyipcal path companies take as they look to specialize.
- #19: Raise the pan – no need to give opinions just show them what is happening, add first touch email before first call
- #20: Bubbles come in later – something at the end, more conversations, more conversions
- #21: I challenge you
- #22: Lead should go through a marketing automation tool – pardot Trade show process is lame You’re not hitting the call types so you’re missing a lot of power
- #26: Throw in the chat window – what is in your optimal tech stack? CRM: Database, workflows, insights Dashboard: Measure everything
- #27: How confident are you in your current tech stack management process?