Presentation Slides (Meetup - Insightful Sales & Marketing) - June 2014
Embed Size (px)
These are the slides presented by Aaron Hunt at InsightfulCRM's monthly Meetup.com get-together in June 2014. The presentation covered characteristics of a challenging business market (steel) and discussed similarities with other industries, specifically the intensification of competition. It was suggested that differentiation is the only viable strategy for most companies, and explored some of the research which supports the view of what makes a high-performing sales teams within complex environments. The presentation also includes a number of models which the author believes provide significant value to sales professionals within complex selling environments. This is by no means a comprehensive presentation of the subject matter in this area of research and practice.
Transcript of Presentation Slides (Meetup - Insightful Sales & Marketing) - June 2014
- HIGH-PERFORMING SALES TEAMS THE SCIENCE BEHIND SUCCESS Aaron Hunt Sales Capability Manager June 2014 Please Note: Some information has been removed from this presentation for commercial sensitivity reasons. All copyrighted material remains the property of its respective rightful owner.
- Arrium $7b sales Export 12 million tonnes of iron ore per annum 9,000 employees Arrium Steel Division $3.5b sales 5,500 employees Manufacture 2.5 million tonnes of steel per annum
- AUSTRALIA ASIA NORTH & SOUTH AMERICA
- SO WHO ELSE LIVES IN A HIGHLY COMPETITIVE MARKET? LAST YEAR WE PRODUCED JUST $316M EBITDA AGAINST $7b REVENUE
- INCREASED COMPLEXITY LONGER SALES CYCLE BUT IT IS PRETTY GLOOMY OUT THERE! LACK OF GROWTH OVERSUPPLY DECLINING MARGINS MORE STAKEHOLDERS PURE COMMODITISATION INTENSIFICATION OF RISK!!!
- WHERE TO FROM HERE?
- THE ANSWER IS NOT JUST TRAINING! ITS MORE THAN THAT
- WE ALL KNOW PORTERS GENERIC STRATEGIES PRICE / COST LEADERSHIP DIFFERENTIATION NICHE
- Only one person can be lowest price; everybody else has to find something else to do.
- ONLY REALISTIC OPTION PRICE / COST LEADERSHIP NICHE DIFFERENTIATION = Do Something Else!
- EXHIBIT #1 Tony Hughes (2010) The Joshua Principle Leadership Secrets of RSVPselling
- EXHIBIT #2 Tom Snyder CSE2012
- EXHIBIT #3 Arrium internal user source unknown
- DIFFERENT APPROACHES
- Engage early Provide new insights Help define solution Trusted advisors Known differentiators No two opportunities identical Sales process adapts to buying process Broad & deep relationships SIMILAR RESEARCH FINDINGS Customer focused Clear value creation process Data-driven Lead customer Understand decision making process Very adaptive sales people Identify in-business coach
- What does a high-performing sales organisation look like?
- HOW DO YOU CREATE AN ENVIRONMENT IN WHICH SALES PEOPLE CAN PERFORM TO THIS LEVEL?
- CEB IDENTIFIED 24 ELEMENTS OF HIGH PERFORMANCE 1. Strategy 2. Change management 3. Sales culture 4. Internal alignment 5. Segmentation 6. Voice of the customer 7. Account planning 8. Coverage 9. Key account planning 10. Customer stakeholder management 11. Commercial messaging 12. Skill certification 13. Recruitment 14. Onboarding and training 15. Sales competencies 16. Coaching 17. Performance management 18. Frontline management 19. Goal setting and forecasting 20. Rewards and recognition 21. Sales metrics 22. Sales enablement 23. CRM 24. Sales process Corporate Executive Board Anatomy of a World Class Sales Organisation
- Which levers BUT WHICH LEVER DO YOU PULL FIRST?
- Miller Heiman study the habits of world- class sales organisations also
- FOCUS ON CUSTOMERS Understand why the buy from us Defined Value Propositions Understand needs and wants clearly Internal alignment on account approach 91% 33% 0% 20% 40% 60% 80% 100% World-Class The Rest Focus on Customers Miller Heiman 2013 Sales Best Practices Study
- COLLABORATIVE CULTURE Allocate the right resources to the right opportunities Management team work with sales to progress opportunities High-performers are studied to understand Best-practice is shared amongst the sales team 91% 30% 0% 20% 40% 60% 80% 100% World-Class The Rest Collaborative Culture Miller Heiman 2013 Sales Best Practices Study
- KNOW WHY THEY ARE SUCCESSFUL Define clear criteria for key accounts status Align remuneration with business objectives Accurate CRM data Sales team focuses on spending time with customers 83% 30% 0% 20% 40% 60% 80% 100% World-Class The Rest Understand Success Factors Miller Heiman 2013 Sales Best Practices Study
- CREATING OPPORTUNITIES Formalised, compelling VPs, communicated across the organisation Lean and reassess regularly Shared view of customer as core to business Confident collaboration by both groups 96% 31% 0% 20% 40% 60% 80% 100% 120% World-Class The Rest Defined VPs 89% 26% 0% 20% 40% 60% 80% 100% World-Class The Rest Sales & Marketing Aligned Miller Heiman 2013 Sales Best Practices Study
- MANAGING OPPORTUNITIES Adhoc teams form to meet requirements of customer buying process Common processes Shared view of customer as core to business Confident collaboration by both groups 89% 29% 0% 20% 40% 60% 80% 100% World-Class The Rest Smart Resource Allocation 89% 40% 0% 20% 40% 60% 80% 100% World-Class The Rest Understand Customer Needs Miller Heiman 2013 Sales Best Practices Study
- MANAGING RELATIONSHIPS Clear criteria for key accounts Measure life-time value, share of wallet and up-sell opportunities at all times Review success with key account Continue to sell after the sale is signed 85% 34% 0% 20% 40% 60% 80% 100% World-Class The Rest KA Criteria Established 89% 33% 0% 20% 40% 60% 80% 100% World-Class The Rest Conduct Reviews with KAs Miller Heiman 2013 Sales Best Practices Study
- PEOPLE & ORGANISATION Management help to advance sales opportunities to closure Forward looking Pipeline management process Understand what makes top talent successful Quantify and map desirable behaviours 94% 34% 0% 20% 40% 60% 80% 100% World-Class The Rest Mgmt Supports Sales Process 93% 34% 0% 20% 40% 60% 80% 100% World-Class The Rest Key Success Factors Miller Heiman 2013 Sales Best Practices Study
- OPERATIONS & ENABLEMENT Aligned to and supportive of business strategy and goals Need to be challenging but achievable goals Confidence in CRM data set Standardised process for managing activities and recording 93% 38% 0% 20% 40% 60% 80% 100% World-Class The Rest Compensation Aligned to Goals 78% 22% 0% 20% 40% 60% 80% 100% World-Class The Rest Quality Data in CRM Miller Heiman 2013 Sales Best Practices Study
- MANAGEMENT EXECUTION Capture attributes and behaviours of top talent Inform training & development programs Remove back office clutter Structure support systems to provide what is required and when its required 89% 21% 0% 20% 40% 60% 80% 100% World-Class The Rest Leverage Top Performer Skills 76% 24% 0% 20% 40% 60% 80% World-Class The Rest Maximise Time in Field Miller Heiman 2013 Sales Best Practices Study
- The Arrium approach
- Employee lifecycle management for sales talent. HOLISTIC APPROACH Role Definition & Capability Profiling Talent Management & Development Performance Management - Clear understanding of how each role supports the strategy through its purpose and contribution. - Identified understanding of the skills and knowledge required to perform each role to the desired level of output. - Explicitly stated key metrics, objectives & standards of performance, as well as clear behavioural expectations. - Ability to identify and recruit high potential individuals from within and out of the industry. - Suitable remuneration and rewards to maintain required levels of engagement. - Support continuous improvement through learning & development to meet both current and future requirements. - Talent pipelines to fulfil succession requirements at each level of the organisation. - Appropriate measures and checks to ensure required outputs are achieved. - Coaching & training support for individuals to achieve required levels of competence. - Clear and explicit standards and expectations of deliverables. - Suitable systems/processes in place to provide both predictive and responsive indications of gaps. 2014 Arrium
- Some interesting frameworks
- PRO VALUE BASED SELLING Jeff Thull The Prime Solution Move beyond selling product or process and move on to performance Focus on what does it DO for the customer? The outcomes Tried and proven approach PRODUCT PROCESS PERFORMANCE Jeff Thull (2005) The Prime Solution
- SPIN SELLING Perennial favourite N