FORECAST ACCURACY AND FRONTLINE SALES … ACCURACY AND FRONTLINE SALES MANAGERS ... managers have of...
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877.678.3380 millerheimangroup.com © Copyright Miller Heiman Group, Inc. All Rights FORECAST ACCURACY AND FRONTLINE SALES MANAGERS IT STARTS WITH ACCOUNTABILITY WE ALL NEED COACHING EMPOWER SALES 93 % WORLD-CLASS 44% ALL 90% WORLD-CLASS 39% ALL 78% WORLD-CLASS 25% ALL Our sales managers are always held accountable for ensuring the accuracy of our sales forecast. Frontline sales managers are on the “front lines” where salespeople and customers meet and where the major work of the sales organization is done, teaching, coaching and guiding their salespeople on accounts and opportunities. In organizations where World-Class Sales Performance is business as usual, the FSM is the role most accountable for managing and delivering accurate sales forecasts. Cause & Effect A high degree of confidence in funnel data allows sales professionals to prioritize their time between creating new opportunities and executing on qualified opportunities. Organizations with higher levels of forecast accuracy and funnel confidence are more likely to achieve their quota. Forecast accuracy demonstrates the command frontline sales managers have of the business and their ability to influence their team’s behaviors. Our sales managers are held accountable for the effective use of sales tools and resources by the sales force. Enforcing the use of Customer Relationship Management (CRM) automation systems Providing sales training Ensuring accessibly to sales enablement tools such as knowledge management systems, audio tools, social collaboration platforms and alignment with marketing efforts Providing business intelligence such as reporting, auto analytics, data mining and benchmarking Coaching sales teams Ensuring sales resources are mobile and agile Tactical deal coaching/mentoring Sales-Skills assessment: monthly discussions, bi-annual reassessment Pipeline management/time-management discussions Career coaching, talent development Joint selling Strategic account reviews, relationship sponsorship/peer-to-peer participation by manager Cross-Sell/Upsell customer mapping Product knowledge Prospecting: territory planning & targeting New product launches Win-Loss review In an average month, our sales managers definitely spend adequate time coaching each individual on the sales team. Coaching Opportunities Coaching the Coach Sometimes the teacher needs teaching, too. Frontline sales managers nearly always have the characteristics of a top-performing salesperson but often must be taught how to coach salespeople while also learning the new skills they need to succeed as a business manager. Accountability: (as defined by World-Class Sales Performers): The best sales managers take ownership for the performance of their team: They must regularly review the performance of and determine the forecast for each salesperson. This thorough evaluation of each salesperson’s opportunities and their progress toward their goals challenges the manager to objectively assess opportunities and the salesperson’s ability to close them. Forecasting correctly starts with Frontline Sales Managers. Ensuring they are being held accountable for accuracy, enforcing and enabling the sales team to use the resources and tools at their disposal, and taking advantage of coaching opportunities is your first line offense in predicting pipeline, forecasting accurately and having a clear line of site into potential revenue. We've gathered a few data points from our Insight Ready team, inspired by CSO Insights to help you ensure your Frontline Sales Managers are effective. Miller Heiman Group TM
Transcript of FORECAST ACCURACY AND FRONTLINE SALES … ACCURACY AND FRONTLINE SALES MANAGERS ... managers have of...
877.678.3380 millerheimangroup.com
© Copyright Miller Heiman Group, Inc. All Rights
FORECAST ACCURACY AND FRONTLINE SALES MANAGERS
IT STARTS WITH ACCOUNTABILITY
WE ALL NEED COACHING
EMPOWER SALES
93 % WORLD-CLASS
44% ALL
90% WORLD-CLASS
39% ALL
78% WORLD-CLASS
25% ALL
Our sales managers are always held accountablefor ensuring the accuracy of our sales forecast.
Frontline sales managers are on the “front lines” where salespeople and customers meet and where the major work of the sales organization is done, teaching, coaching and guiding their salespeople on accounts and opportunities. In organizations where World-Class Sales Performance is business as usual, the FSM is the role most accountable for managing and delivering accurate sales forecasts.
Cause & E�ectA high degree of confidence in funnel data allows sales professionals to prioritize their time between creating new opportunities and executing on qualified opportunities.
Organizations with higher levels of forecast accuracy and funnelconfidence are more likely to achieve their quota.
Forecast accuracy demonstrates the command frontline sales managers have of the business and their ability to influence their team’s behaviors.
Our sales managers are held accountable for the e�ectiveuse of sales tools and resources by the sales force.
Enforcing the use of Customer Relationship Management (CRM) automation systems
Providing sales training
Ensuring accessibly to sales enablement tools such as knowledge management systems, audio tools, social collaboration platforms and alignment with marketing e�orts
Providing business intelligence such as reporting, auto analytics, data mining and benchmarking
Coaching sales teams
Ensuring sales resources are mobile and agile
Tactical deal coaching/mentoring
Sales-Skills assessment: monthly discussions, bi-annual reassessment
Pipeline management/time-management discussions
Career coaching, talent development
Joint selling
Strategic account reviews, relationship sponsorship/peer-to-peer participation by manager
Cross-Sell/Upsell customer mapping
Product knowledge
Prospecting: territory planning & targeting
New product launches
Win-Loss review
In an average month, our sales managers definitely spendadequate time coaching each individual on the sales team.
Coaching Opportunities
Coaching the Coach
Sometimes the teacher needs teaching, too. Frontline sales
managers nearly always have the characteristics of a
top-performing salesperson but often must be taught how
to coach salespeople while also learning the new skills they
need to succeed as a business manager.
Accountability:(as defined by World-Class Sales Performers): The best sales managers take ownership for the performance of their team: They must regularly review the performance of and determine the forecast for each salesperson. This thorough evaluation of each salesperson’s opportunities and their progress toward their goals challenges the manager to objectively assess opportunities and the salesperson’s ability to close them.
Forecasting correctly starts with Frontline Sales Managers. Ensuring they are being held accountable for accuracy, enforcing and enabling the sales team to use the resources and tools at their disposal, and taking advantage of coaching opportunities is your first line o�ense in predicting pipeline, forecasting accurately and having a clear line of site into potential revenue.
We've gathered a few data points from our Insight Ready team, inspired by CSO Insights to help you ensure your Frontline Sales Managers are e�ective.
Miller Heiman GroupTM
