adapt or die: achieving revenue growth in today's market
DESCRIPTION
Presentation given by Steve Rucinski, Vice President of Sales for InfoGrow Corporation, on 10/10/13. This presentation covers: Changing buyer behaviors Revenue process metrics for comparing against your own organization's performance The wrong management reaction to have in this environment Moneyball thinking and how it applies to revenue processes How and when technology can help View the YouTube Video of the presentation, complete with commentary here: http://www.youtube.com/watch?v=v4u2Q1p-1Io&feature=youtu.beTRANSCRIPT
Adapt or Die: Achieving Revenue Growth in Today’s Market
10.10.13Steve RucinskiInfoGrow
InfoGrowCorp.com
Agenda
1 2 3 4 5 6
Behavior Reaction
QuestionsMetrics Moneyball
Strategies
InfoGrowCorp.com
Data Credits – Thank You• HubSpot• RPM Group International• Baker Tilly• Sales Benchmark Index• Mongoose Metrics• DemandGen
Thank You
InfoGrowCorp.com
Buyer Behaviors• 81% of B2B start with a search engine
• 59% of B2B engage peers with similar challenges
• 48% are taking more time to research
• 57% of buying process is complete before supplier contact
• 60% of qualified deals end in no decision
InfoGrowCorp.com
Buying ProcessOpenness
Realized Want or Need
Learning and Education
Seek Ideas and Inspiration
Research and Vetting
Purchase
Post Purchase Evaluation and Expansion
InfoGrowCorp.com
Buyer Behaviors
InfoGrowCorp.com
Understanding Your Buyer • Invest the time to learn and understand your
buyer’s :– Process: who, what, when, where and why– Sources of information used in the process
• Do NOT underestimate the impact of:– Internet, Social Media and Mobile technologies– In-process generational change, Boomer to
Millennial
• Investigate what today’s Marketing Automation tools may do to help you
InfoGrowCorp.com
Sales Performance Metrics• 48% of Sales Reps fail to hit their target
• Sales that fail to close as forecasted = 88%
• Less than 10% of sales meetings result in a sale
• 68% of leads generated are not followed up on
• Actual selling time is 31% of total time available
• End-to-end closure rate is 2.4%
InfoGrowCorp.com
Management’s Reaction• Cheerleading: Make more calls! Push those
prospects! Work Harder? • Sales training!• CRM software!• Get new reps!
• It has never been more difficult to sell– Market complexity– Organizational challenges– Sales force under stress– Changing buyer behaviors
InfoGrowCorp.com
Moneyball Thinking• Moneyball: The Art of Winning an Unfair
Game
Story of how an analytical, evidence and metric based approach was used to achieve success.
• It starts with identifying and breaking down key processes and the metrics required to understanding those key processes.
InfoGrowCorp.com
MoneyballSales Leads Required 4,500Lead-to-1st Meetings Ratio 33%
1st Meetings Required 1,500 6,500 Meeting-to-Proposal Ratio 33%
Proposals Required 500Propose-to-Close Ratio 20%
New Deals to Close 100Average Contract Size? $100KNew Revenue Next Year? $10M
InfoGrowCorp.com
Example 1Sales Leads Required 3,715Lead-to-1st Meetings Ratio 35%
1st Meetings Required 1,300 5,470Meeting-to-Proposal Ratio 35%
Proposals Required 455Propose-to-Close Ratio 22%
New Deals to Close 100Average Contract Size? $100KNew Revenue Next Year? $10M
InfoGrowCorp.com
Example 2Sales Leads Required 4,500Lead-to-1st Meetings Ratio 35%
1st Meetings Required 1,575 Meeting-to-Proposal Ratio 35%
Proposals Required 520Propose-to-Close Ratio 22%
New Deals to Close 115Average Contract Size? $100KNew Revenue Next Year? $11.5M
InfoGrowCorp.com
Suggested Strategies• Learn and understand your prospect’s
buying behaviors and process in as much detail as possible
• Consider applying a more scientific approach via a process understanding and metrics– Start with knowing your 6 key metrics as
discussed
• Get help from experienced professionals, revenue processes are vital to your organization
InfoGrowCorp.com
Wrap-Up
1 2 3 4 5 6
Behavior Reaction
QuestionsMetrics Moneyball
Strategies
InfoGrowCorp.com
InfoGrow• We help organizations accelerate growth
through enabling better sales and marketing decisions.
– 24 years of helping organizations optimize their investment in people, process and technology.
If you would like help improving your revenue processes contact me:
Steve Rucinski: 800-897-9807 x225 [email protected]