deck for ec sell webinar jan 2012
DESCRIPTION
The latest webinar from Mark Sellers, hosted by EcSell Institute, on how to maximize the value of the funnel in lead conversion, qualification, and overall funnel managementTRANSCRIPT
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
5 Funnel Management Coaching Mistakes
to Avoid in 2012
Presented by Mark Sellers and hosted by EcSell Institute
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
“A terrific book!” Gerhard Gschwandtner, Publisher Selling Power Magazine
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
A global client list
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Best Practices
• Use funnel to define customer buying process• Creating global processes to manage the funnel • Commit to institutionalizing selling to customer buying
process
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
“Every salesperson in the company, up the entire chain of management, is accountable for the completeness and accuracy of the pipeline. Incomplete or false data leads to bad business decisions and puts our business at risk.” Andy Mattes, President
Top management has ownership to process
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Do you know how your customers buy?
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Why the funnel?
Need
funding
alternatives
purchase
Stages
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Align your selling with customer buying
Seller actionsCustomer actions
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
We created the funnel that defines the customer’s buying process
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
We’re a process solution, not trainingThis is how you institutionalize the right selling behaviors
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Mistake 1: Assuming that defined funnel stages drives the right selling behavior
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Solution
• Use the intent of the stage definition to drive dialogue
• Do spot ‘deal reviews’ • Train
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Mistake 2: Making time for forecasting calls, but not for ‘funnel’ calls
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Solution
• Separate forecasting calls from funnel health calls
• Focus Audit on ‘Nonviable’ section of funnel
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Questions to ask
• How has your funnel changed over the past 30 days? • For opportunities that moved stages do you know why that
happened? What did the customer commit to for the opportunity to move stages?
• Did you add new Stage 1s? What was the lead source? • How many new customers did you add to the funnel vs new
opportunities from existing customers? • Did you complete 100% of your action items from the last Funnel
Audit?
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Mistake 3: Thinking that a CRM solution fixes a sales process problem
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Solution
• If you haven’t yet implemented CRM…• If you have implemented CRM…• Don’t let the ‘data’ speak for itself
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Questions to ask
• Not yet implemented CRM – How can I help my
salespeople gain insight into their funnel health?
– Where would CRM help then better manage their funnels?
– What can I do to keep the focus on the process, not the CRM when we get it?
• Have implemented CRM– Do my people have the right
funnel reports? – Is CRM giving them insight
or just visibility?– Is CRM making Funnel
Audits (eg inspections) easier to do or harder?
– Am I having funnel health calls or just forecasting calls?
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Mistake 4: Managing all of your reps to a 3X expectation
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
36M
= 11.8M
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
36M
= 9M
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
36M
= 5.4M
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Solution
• Know the true win rate of each rep • Use it to create more credible 30 day funnel
action plans • Update regularly
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Action Plan
• Each Funnel Audit leads to a specific 30–60 day Action Plan
• Priorities and time management are identified
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Action Plan
• Goals – Ex: Find €400,000 of TVR in next 30 days
• Actions– Ex: Convert 3 of my Stage 2s to Stage 3, totalling
€400,000 of funnel value TVR
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Mistake 5: Your veterans do not need coaching
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Solution
• Veterans want coaching• Be mindful of your approach to coaching
veterans • Going to the driving range
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
We’re a process solution, not trainingThis is how we institutionalize the right selling behaviors
© 2008 Mark Sellers and Breakthrough SalesPerformance LLC Sales Consulting | www.breakthrough-sales.com
Learn more – Mark Sellers
Website/Blog
funnelprinciple.com
blog.funnelprinciple.com
Phone
614.571.8267
@funnelprinciple