mingle monday on turning how you sell into a competitive advantage
TRANSCRIPT
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Agenda
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• Welcome and introductions
• The SRP Matrix
• Benchmarking your organization on you metrics
• Successes or barriers experienced by the audience
• M&M best practices to achieve dynamic process
• Q&A
Focus on Driving Your Growth
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MARKETINGDefine, develop,
communicate and deliver offerings that have value for
your customers
SALESBoosting commercial
performance enabling you to find, win and retain
customers
TRANSFORMATIONBuilding organizational focus,
capabilities and the necessary change to win more in the market
Marketing Sales TransformationMarket Assessments Sales & lead management Defining vision & mission
Segmentation, targeting & positioning
Large account management process
Shifting the paradigm and change management
Product management & marketing
Creating & managing opportunities
Building customer centric or solution led organizations
Go to market plans & activation Sales Enablement Organizational design
Communication management Social Selling Innovation & NPD processes
Pricing & value capturing Value based selling and pricing Internal communications
(Employer) brand management Negotiating success Coaching & capability building
Customer experience & loyalty Leveraging your CRM tools Marketing & sales alignment
Marketing performance & KPI’s Partner channel management Building employee engagement
Deep Expertise
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Align sales and marketing on plans and tactics
Creating & Managing Sales Opportunities
Managing Accounts
Manage indirect channels better
Assess and select talentBuild teams
Proven Methodologies
Funnel Management
Commercial Performance
Enhance capabilities and management
Sales Management
Training and Coaching for Sales Managers
Channel Management
Call Centers
People & Organisation
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+23%Revenue Plan Attainment
+19% Salespeople Making Quota+12% Win Rates of Forecasted Deals
-24% Sales Turnover
Source: 2015 CSO Insights’ Sales Performance Optimization Study
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Sales ManagementChannel/Region/Segment
Sales ManagerFrontline, Quota Bearing
SalespersonField/Inside/Channel
Chief Sales OfficerRevenue, Expense, Market
Share
SalesPerformance
Sales OperationsTerritories, Metrics, Comp, Quota
Sales TrainingProcess, Skills, Product, New Hire
Sales EnablementContent, Knowledge, Message, Tools
Sales TechnologySFA, Apps, Platform. Mobile
InfrastructureProductivity
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RelationshipLevel
Process Maturity
Productivity
Performance
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Trusted Partner
Strategic Contributor
Solutions Consultant
Preferred Supplier
Approved Vendor
Random Process
Informal Process
Formal Process
Dynamic Process
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Trusted Partner
Strategic Contributor
Solutions Consultant
Preferred Supplier
Approved Vendor
Random Process
Informal Process
Formal Process
Dynamic Process
R1/P1
R3/P3
R4/P4
20© MHI Global, Inc. All Rights Reserved.
Main goal: Increasing revenues (68%)
• Various strategies are applied. One key is to improve productivity
• Top goals: Decrease ramp-up time, increase selling time and improve conversations
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Source: CSO Insights 2016 Sales Enablement Optimization Study
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Sales force enablement requires equipping the managers as well
• Frontline sales managers are second most important user group
• Analytics, metrics, and coaching are most important
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Source: CSO Insights 2016 Sales Enablement Optimization Study
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Enablement is MUCH more than sales and marketing alignment:
• Collaboration with product, IT, and HR to be improved
• Best collaboration is within sales: sales ops and executive management
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Source: CSO Insights 2016 Sales Enablement Optimization Study
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Customer’s journey alignment is essential to drive sales performance
• Informally aligned: Mapping is done, but not implemented
• Formally aligned: Plus implementation and periodic reviews
• Dynamically aligned:Plus aligned to enablement framework
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Source: CSO Insights 2016 Sales Enablement Optimization Study
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The better the alignment, the better the performance:
• Quota attainment: +13.6%
• Win rate:+14.7%
• Loss rate:-9%
• No Decisions:-8%
Average win rate: 46.2%
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Source: CSO Insights 2016 Sales Enablement Optimization Study
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Social selling serves various purposes
• Lead generation, account and stakeholder research, and call preparation
• Building social brand
• Content curation
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Source: CSO Insights 2016 Sales Enablement Optimization Study
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Social engagement drives win rates, if social strategies are aligned
• No alignment: below average
• Informal alignment: average
• Formal alignment improves win rate:+16%
Average win rate: 46.2%
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Source: CSO Insights 2016 Sales Enablement Optimization Study
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Average ramp-up time is increasing
• 60% report a ramp-up time of >= 7 months
• In 2003: this number was only 40%
• Increasing ramp-up time can impact a year’s performance significantly
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Source: CSO Insights 2016 Sales Enablement Optimization Study
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Content quality drives quota attainment
• Bad content quality leads to quota attain-ment below average: -5%
• Quality content leads to quota attainment above average:+6%
Average quota attainment: 55.8%
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Source: CSO Insights 2016 Sales Enablement Optimization Study
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Training centered around the customer needs improvement
• Social selling training as in 2015 with the highest need for redesign
• Product training, sales methodology and process training seem to be most effective
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Source: CSO Insights 2016 Sales Enablement Optimization Study
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Training impacts sales performance, e.g., social selling training
• If social selling training exceeds expectations
• Win rate: +37.8%
• Quota attainment:+55.5%
Average quota attainment: 55.8%Average win rate: 46.2%
© MHI Global, Inc. All Rights Reserved
Source: CSO Insights 2016 Sales Enablement Optimization Study
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Investments in sales manager development depend on sales force enablement
• 54.7% with enablement spend > $1,500, but only 33.4% without enablement
• 25.7% of all participants without enablement don‘t invest in their sales managers
© MHI Global, Inc. All Rights Reserved
Source: CSO Insights 2016 Sales Enablement Optimization Study
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Coaching approach still not structured
• Majority (47.5%) leaves coaching up to each manager
• Only formal coaching approaches impact performance
Informal and random coaching is useless!
© MHI Global, Inc. All Rights Reserved
Source: CSO Insights 2016 Sales Enablement Optimization Study
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Formal and dynamic coaching drive performance
• Win rates:• Dynamic: +27.9%• Formal: +11.4%
• Quota attainment:• Dynamic: +10.2%• Formal: +8.6%
Average quota attainment: 55.8%Average win rate: 46.2%
© MHI Global, Inc. All Rights Reserved
Source: CSO Insights 2016 Sales Enablement Optimization Study
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Performance improve-ments driven by SECM
• Productivity leads the list: Improving access to content, and reducing search time are top improvements
• Effectiveness follows with e.g., win rates, ramp-up time
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Source: CSO Insights 2016 Sales Enablement Optimization Study
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• Map business strategy to sales execution and • capture findings
• Assess your current state of enablement maturity:Required, Recommended, World-Class
Source: CSO Insights Research Notes All Things Enablement: Maturity Model Overview and Creating a Sales Force Enablement Charter
In Company Trajectories
Public Trainings
ACADEMY
Annual Summit
Mingle Mondays
Lectures & Webinars
M&M Academy
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Experts to consult, coach
or manage growth projects
Specialist resources to fill organisational
gaps
Capability building, learning & development,
networking
M&MConsulting
M&MInterim
M&MAcademy