Dionne MischlerCEO, Inside Sales by DesignAA-ISP OC Chapter President
in/DionneMischler@DionneMischler
Understanding Key Sales Fundamentals
AGENDA
Generating Revenue
▪ Introductions
▪ Discussion▪ Next Steps
▪ Resources
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OVERVIEWGenerating Revenue
“Plan your work, work your plan.”
Can you confidently answer the questions:1. How do you make money?2. What’s your monetization path?3. Where’s your revenue coming from? (What’s your Ideal Customer Profile?)4. How do you acquire customers?5. How do you retain customers?
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TIME
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2016! ?
.@DionneMischler
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Let’s shift how we think about things. How people view time. Be able to adapt to that particular style. What’s your style?
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2016
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It’s not about you. Awesome you had the idea- how does it help your potential customer? Who could really use what you’ve come up with and why?
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2016
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Yep, this means you have to sell something. There’s another phrase, a little nicer…If it’s going to be, it’s up to me. This means as an entrepreneur, you have to sell something first.
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R. Buckminster Fuller was a 20th century inventor and visionary who did not limit himself to one field but worked as a 'comprehensive anticipatory design scientist' to solve global problems. Fuller's ideas and work continue to influence new generations of designers, architects, scientists and artists working to create a sustainable planet.More inspiration for ICP and goes with how you make money, product creation, monetization. Are you easy to buy from? I would challenge that a lot of our “new” ideas are making the current model better. ATM’s instead of going into the bank. Buying online v. going into the store. Apple. FB. Now, this is NOT easy nor does it happen all the time.
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Let’s talk about your ICP. Your product is not for everyone. Your ICP allows you to find your target market size, locations, etc. And attack accordingly. List 3 quantitative characteristics and 3 qualitative. Let’s craft some messaging that relays why and how your customer would benefit from using your product.
ICP
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Demographic
1. Company Industry2. Size of company3. Buying team4. Sales team5. Use case
1. Who buys?2. Why they buy?3. What are they solving?
Quantitative
1. What product/service did they buy?
2. How long was the sales cycle?3. Successful win information4. Loss information
Kite Desk blog post
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Very simple, way to start. Start with the demographic and this ties back to your ICP. As a sales leader, you’ve worked with marketing to focus your ICP – again, confirm, confirm, confirm. Is the target customer really the target? This affects your go to market, outbound/inbound strategies, etc. From there, you’d look at your quantitative info and dive into the What, How long, What does a win look like and what does a loss look like. Ties to your Sales Process and cascades down to your Sales Teams and Customer Success Teams. What you’re driving at is COS. You’ll want to leverage data to determine are the right people selling the right products/services to the right prospects/customers. This information also feeds into your UVP creation.
How do you make money? Let’s walk through defining the basic of money received in exchange for goods/services. How do you get to your ICP? Where are those people? Online, events, etc. How do they buy? How do you aquire? Sales plan along with your marketing plan.
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HOW DO YOU ACQUIRE CUSTOMERS?
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Ok. You know your ICP, you’ve defined your UVP. Now, you need to go where your ICP/target audience is located. Where are they?
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ARE YOU EASY TO BUY FROM?
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Now you’ve found your ICP AND where they’re located. Now the question is: Are you easy to buy from? If not, you’re customers will go somewhere else or simply not buy. Is it easy to buy from you? Do your customers know what to do when?
CUSTOMER ONBOARDING
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3 Easy Steps – for when your customer says yes
1. Signed contract2. Kick off call3. Training
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Once you have your ICP, you’ll need to determine your messaging to your audience. Practice, practice, practice. Validate, validate, validate. And once you have one prospect that has agreed to become a customer – how do you bring them into the family? Have a process with your early adopters, document, so it’s repeatable and scalable. Sit down and sketch this out. It will definitely change, however, start the documentation process.
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CUSTOMER RETENTION
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Are you able to retain your customers? Research tells us that it’s much less expensive to keep customers than it is to get new ones. Let’s walk through new customer acquisition cost – product creation, product marketing, marketing, sales, customer onboarding, customer implementation. Verses customer success.
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CUSTOMER RETENTION
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From Bain and Co.
CUSTOMER RETENTION
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3 Easy Steps
1. Account Review2. X Touches3. Value tied back to their desired business outcomes
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Alrighty, you’ve got your ICP, you’ve gone fishing successfully in the right spot. You’ve signed and onboarded a handful of customers – how do you keep them. There are ultimately two metrics to track your business – NCA and Customer Churn. Done correctly, your customer churn is 0. The point is to love on and hug your customers so they stay. There are a number of ways to do this to give value back to the customer.
NEXT STEPS
1. Determine Ideal CustomerCollect your data pointsWho/which departments need to be a part of this
conversation and exercise
2. Acquire CustomersDetermine how to get your solution in the
customer’s hands EASILYWhere are your customers and how do you go
after them?
3. Retain CustomersWhat does this need to look like?Who should be a part?
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Has Three Stages. I’m a fan of simple and this is a good way to start.
17 years in Sales and TechnologyBuilt first official Inside Sales team in 2007Today, Founder of Inside Sales by DesignPresident of AA-ISP OC Chapter since 2009
Personal
Born and raised in the Chicago Suburbs living in OCInternational Business & Business Administration degree from Carthage CollegeMarried 9 years; Mother to 2 childrenPassionate about Inside Sales and Education
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2015
Dionne MischlerFounder, Inside Sales by DesignAA-ISP OC Chapter President
