The Sales Productivity Benchmark: Rate your Sales Force Against World Class
19
1 Sales Productivity Benchmark
description
Sales management must produce a sales strategy based on an understanding of their sales force strengths and weaknesses. A sales consulting firm can assess your go to market strategy utilizing benchmarks to determine where you should invest in sales performance improvement projects. A presentation by Sales Benchmark Index.
Transcript of The Sales Productivity Benchmark: Rate your Sales Force Against World Class
1
Sales Productivity Benchmark
2
Generates improvement recommendations Uses diagnostic techniques and empirical
data to improve accuracy of assessment Relies on best practices for means to close
sales gaps
What is it? Environmental Scan of Sales
Reveals strength and weakness areas
Identifies best return for sales effort
Provides sales benchmarks against relevant peers
2
YOURLOGO3
Sales Force Assessment Framework
ChannelsDetermine optimal route to market
DevelopGo-to-Market
Plan2
Sales Force StructureOrganizational model effectiveness vs. efficiency
Sales Force SizeMatch selling capacity to market demand
DesignSales Force3
Sales InfrastructureCreate performance conditions for optimal results
Build Infrastructure4
Account SegmentationSegment accounts by Ideal Customer Profile
Lead ManagementGenerate MQL/SQL/SAL
Sales ProcessMap customer/prospect buying process to custom built sales process
Develop Sales
Strategy
STEP
1
44
5
Phase 1Discovery Process & Sample Data
6
Exec Interviews:CEO / CFO / CSO / CMO
7
8
Customer Survey Findings (Trust)
Q#10: When you buy these types of services, where do you place your trust?
Takeaway• MORE economic buyers place their trust in the rep • The company itself is of little importance to the decision maker or user• Services (offering + maintenance) are what user buyers primarily trust
Acme Acme
9
Q#17: How often do you communicate with your sales representative?
Takeaway• The communication frequency is surprisingly low for a community of buyers who
desire F2F interaction with their vendor• Over 50% of EBs communicated with their reps quarterly or LESS frequently
Customer Survey Findings (Frequency)
10
Q#16: Which method of engagement do you prefer with your sales rep?
Takeaway• Established customers prefer F2F interaction, even for follow-on procurements
Customer Survey Findings (Mode)
11
#3: Within your existing accounts how many accounts have bought from you within the last 18 months?
Takeaway• Increased acct mgmt activity supports increased customer value; closing the
gap of 24% between Ryder & WC
Sales Rep Survey Findings
12
Sales Rep Time Study
13
Phase 2Benchmark & Sample Analysis
14
Sales Management Maturity Model
Level 1:Chaos
- Ad Hoc Efforts- Ill-defined processes- Unpredictable result
Level 2:Defined
- Documented Process- Not fully adopted- Some Repeatability- Varied Success- Limited Perf Tracking
Level 3:Reportable
- Adopted Processes- Behavior changing- Limited Predictability- Lagging Indicators
Level 4:Managed
- Leading Indicators- Early Problem Detection- Best Practices- Continuous Improvement begins
Level 5:Predictable
- Predictable Results- Change tolerant- Exceed World-Class- External Benchmark
Maturity
Capability
15
Phase 2Best Practices Identification
Lead Managemento Marketing defines an Ideal Customer Profile (ICP) using
firmographic/psychographic infoo A formal Demand Generation process takes contacts from a suspect state
to a Sales Qualified Lead (SQL) statuso Leads are scored (to reflect activity), nurtured (in accordance with the
process), and graded (to reflect ICP match)o Marketing Automation software is used to establish accountability,
increase cycle speed, and improve effectivenesso Etc….
16
Phase 2Best Practices Artifacts
17
Phase 3Presentation & Sample
Recommendations
19
Recommendation: 4 focus areas
Deg
ree
of
Dif
ficu
lty
Moderate
High
Very High
Medium LowHigh
Phase 3
Phase 2
Sales Process
Phase 1
Value
Lead Managemen
t
Sales Manager Assessment
Sales Force Sizing
Org Change Managemen
t
Compensation
Sales Mgr and Sales Rep Talent Dev
Sales Performanc
e Managemen
t
Channel Optimization
Focus Area
Key Account Managemen
t
20
