Mingle monday on turning how you sell into a competitive advantage

MAKING THE WAY YOU SELL AND SERVICE A COMPETITIVE ADVANTAGE

PASCALE HALL

2

Agenda

2

• Welcome and introductions

• The SRP Matrix

• Benchmarking your organization on you metrics

• Successes or barriers experienced by the audience

• M&M best practices to achieve dynamic process

• Q&A

Focus on Driving Your Growth

3

MARKETINGDefine, develop,

communicate and deliver offerings that have value for

your customers

SALESBoosting commercial

performance enabling you to find, win and retain

customers

TRANSFORMATIONBuilding organizational focus,

capabilities and the necessary change to win more in the market

Marketing Sales TransformationMarket Assessments Sales & lead management Defining vision & mission

Segmentation, targeting & positioning

Large account management process

Shifting the paradigm and change management

Product management & marketing

Creating & managing opportunities

Building customer centric or solution led organizations

Go to market plans & activation Sales Enablement Organizational design

Communication management Social Selling Innovation & NPD processes

Pricing & value capturing Value based selling and pricing Internal communications

(Employer) brand management Negotiating success Coaching & capability building

Customer experience & loyalty Leveraging your CRM tools Marketing & sales alignment

Marketing performance & KPI’s Partner channel management Building employee engagement

Deep Expertise

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5

Align sales and marketing on plans and tactics

Creating & Managing Sales Opportunities

Managing Accounts

Manage indirect channels better

Assess and select talentBuild teams

Proven Methodologies

Funnel Management

Commercial Performance

Enhance capabilities and management

Sales Management

Training and Coaching for Sales Managers

Channel Management

Call Centers

People & Organisation

6© MHI Global, Inc. All Rights Reserved.

+23%Revenue Plan Attainment

+19% Salespeople Making Quota+12% Win Rates of Forecasted Deals

-24% Sales Turnover

Source: 2015 CSO Insights’ Sales Performance Optimization Study


CSO Insights: Sales Performance Optimization Study


Sales ManagementChannel/Region/Segment

Sales ManagerFrontline, Quota Bearing

SalespersonField/Inside/Channel

Chief Sales OfficerRevenue, Expense, Market

Share

SalesPerformance

Sales OperationsTerritories, Metrics, Comp, Quota

Sales TrainingProcess, Skills, Product, New Hire

Sales EnablementContent, Knowledge, Message, Tools

Sales TechnologySFA, Apps, Platform. Mobile

InfrastructureProductivity


RelationshipLevel

Process Maturity

Productivity

Performance


Trusted Partner

Strategic Contributor

Solutions Consultant

Preferred Supplier

Approved Vendor

Random Process

Informal Process

Formal Process

Dynamic Process


Trusted Partner

Strategic Contributor

Solutions Consultant

Preferred Supplier

Approved Vendor

Random Process

Informal Process

Formal Process

Dynamic Process

R1/P1

R3/P3

R4/P4


Main goal: Increasing revenues (68%)

• Various strategies are applied. One key is to improve productivity

• Top goals: Decrease ramp-up time, increase selling time and improve conversations

© MHI Global, Inc. All Rights Reserved

Source: CSO Insights 2016 Sales Enablement Optimization Study


Sales force enablement requires equipping the managers as well

• Frontline sales managers are second most important user group

• Analytics, metrics, and coaching are most important




Enablement is MUCH more than sales and marketing alignment:

• Collaboration with product, IT, and HR to be improved

• Best collaboration is within sales: sales ops and executive management




Customer’s journey alignment is essential to drive sales performance

• Informally aligned: Mapping is done, but not implemented

• Formally aligned: Plus implementation and periodic reviews

• Dynamically aligned:Plus aligned to enablement framework




The better the alignment, the better the performance:

• Quota attainment: +13.6%

• Win rate:+14.7%

• Loss rate:-9%

• No Decisions:-8%

Average win rate: 46.2%




Social selling serves various purposes

• Lead generation, account and stakeholder research, and call preparation

• Building social brand

• Content curation




Social engagement drives win rates, if social strategies are aligned

• No alignment: below average

• Informal alignment: average

• Formal alignment improves win rate:+16%

Average win rate: 46.2%




Average ramp-up time is increasing

• 60% report a ramp-up time of >= 7 months

• In 2003: this number was only 40%

• Increasing ramp-up time can impact a year’s performance significantly




Content quality drives quota attainment

• Bad content quality leads to quota attain-ment below average: -5%

• Quality content leads to quota attainment above average:+6%

Average quota attainment: 55.8%




Training centered around the customer needs improvement

• Social selling training as in 2015 with the highest need for redesign

• Product training, sales methodology and process training seem to be most effective




Training impacts sales performance, e.g., social selling training

• If social selling training exceeds expectations

• Win rate: +37.8%

• Quota attainment:+55.5%

Average quota attainment: 55.8%Average win rate: 46.2%




Investments in sales manager development depend on sales force enablement

• 54.7% with enablement spend > $1,500, but only 33.4% without enablement

• 25.7% of all participants without enablement don‘t invest in their sales managers




Coaching approach still not structured

• Majority (47.5%) leaves coaching up to each manager

• Only formal coaching approaches impact performance

Informal and random coaching is useless!




Formal and dynamic coaching drive performance

• Win rates:• Dynamic: +27.9%• Formal: +11.4%

• Quota attainment:• Dynamic: +10.2%• Formal: +8.6%

Average quota attainment: 55.8%Average win rate: 46.2%




Performance improve-ments driven by SECM

• Productivity leads the list: Improving access to content, and reducing search time are top improvements

• Effectiveness follows with e.g., win rates, ramp-up time




Source: Unplash Images


• Map business strategy to sales execution and • capture findings

• Assess your current state of enablement maturity:Required, Recommended, World-Class

Source: CSO Insights Research Notes All Things Enablement: Maturity Model Overview and Creating a Sales Force Enablement Charter

In Company Trajectories

Public Trainings

ACADEMY

Annual Summit

Mingle Mondays

Lectures & Webinars

M&M Academy

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Experts to consult, coach

or manage growth projects

Specialist resources to fill organisational

gaps

Capability building, learning & development,

networking

M&MConsulting

M&MInterim

M&MAcademy

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Oct 2016

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Nov 2016

Marketing & Sales Performance Summit #516th November 2016

Please save the date…

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• 5th annual Sales & Marketing Performance summit

• 16th November 2016

• 3 Sales, 3 Marketing and 3 cross functional tracks

• Target 250 Business Leaders

• Confirmed speakers: Bpost, Betabit, Federale, Real Dolmen,

EDF Luminus, Telenet and more to come

• Lamot – Mechelen

Mingle monday on turning how you sell into a competitive advantage

Sales

Transcript of Mingle monday on turning how you sell into a competitive advantage