Archive for the ‘sales process’


Sales Metrics That Matter

The best sales professionals are constantly looking for help.  Winners are honest in their self-assessment of the skills and competencies – or at least as honest as they can be.

  1. Only 61% of sales reps think they are good at uncovering customer problems. Until they can do that they can’t know how to apply their solutions to help.
  2. Just over half (54%) know how to access Key Players in the buyer’s organizations. The Key Players are critical in the buying decision.
  3. 80% of sales reps think are good at qualification. But 51% of forecasted deals don’t close. Sellers who qualify effectively are 58% more likely to make quota.

Here’s an infographic based on some research we did.

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Battling the 57% – Part 3: Getting Ahead of the Curve

Much has been written about the research that suggests that a buyer is 57% through their buying process before they engage with a vendor. I have written about this how I think the ‘57%’ is sometimes misinterpreted. Sometimes buyers engage with you early, and sometimes the call you after they have done their own research. Strong patterns exist that correlate the level of awareness that a buyer has of a need to act as he rushes headlong to that 57% Point, directly with his propensity to buy something. That is really no surprise. The parallel pattern however is that his level of awareness is inversely proportional to your opportunity to create value. This is a vital opportunity to which every sales strategist should be paying attention and that’s because most effective selling happens before the buyer calls someone for a solution.

 

ACCOUNT PLANNING IS THE NEW MARKETING

Selling early means working in the areas traditionally assigned to marketing: raising awareness, generating interest, and being top of mind as the buyer develops a preference. Our way of expressing this mindset is “Account Planning is the new Marketing.”

Think about what good you can do for your customer early rather than waiting for them to call. This gives you an opportunity to apply account planning principles early and helps you deliver superior value.

Focus on creating, developing, pursuing, and winning business that delivers mutual value to you and your customer. If you can work on a project that’s good for the customer and good for you, it’s more likely to be non-competitive and less price sensitive. By delivering more value to your customer, you’ll improve your opportunity to succeed.

KNOW YOUR CUSTOMER

You need to have a deep understanding of your customer’s business problems and you need to know their people. Our surveys tell us that only 61% of salespeople think they’re good at uncovering their customer’s business problems, and only 54% of sales people believe that they know how to discover this key information. That’s a challenge that you must address and overcome to assure success. If you don’t understand the business problems and don’t know and understand the people, you’re unlikely to create value or make a sale.

SUMMARY

Every buying decision is subject to these four phases: (1) Awareness of need, (2) Interest in solving the problem, (3) Developing a preference for a solution, and (4) Deciding to make a purchase. You need to determine

if you acting before the buyer develops a preference or not? Whenever you can, act early to have a greater opportunity to create value. If you determine that you’re acting after the 57 percent point, you can still prevail if you qualify carefully and work from deep insight about the prospect’s business needs. Then, flank toward your strengths with unique business, target the people who can assist you – and win.

Please feel free to download our latest publication:

Battling the 57%: Deconstructing the Buyer Seller Dance.

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Battling the 57% – Part2: Flanking to Win

I have written before about the statistic that is out there ‘buyers have progressed 57% through their buying process before they engage a salesperson’ – is in fact an average and that how you act before and after ‘the 57%’ is a matter of choice, not a function of averages. It really comes down to whether you engage first with the buyer, or react to their engagement with you. In this post I will set out some guidelines on how you might react ‘after the 57% point’ if you find yourself in that situation.

Let’s first consider the whole spectrum of engagement – the Sales & Marketing Continuum.

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For any purchase, the customer goes through a number of phases, beginning with Awareness. At this point, they learn that you and your product exist. This is followed by Interest where they care about what you (and others) have. The next phase is the critical one. This is where they establish Preference for a given solution or supplier.

When you overlay the 57 percent point on the Sales and Marketing Continuum, you can see that it lies at the critical juncture between Interest and Preference: If they’re already 57 percent through the decision process before they engage you, there’s a high probability that they’ve already established a preference.

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Consider what happens if  you’re late to the game. If that is the case, you’re probably chasing a sale that will be hard to win. In this case how you respond is really important. At this point your competitor is probably in the lead and has been established as the preferred supplier. You need to shift the focus of the customer’s buying criteria to a new or additional issue — one that your solution will uniquely deliver. This is called a Flanking Strategy and can reset the conditions of the sale in your favor.

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There are four things to consider:

  1. Don’t follow the rules. (Your competitor is already winning under the current rules.)
  2. You need to have internal executive support. (You’re changing the game, and someone powerful must help.)
  3. Make your move last.
  4. Don’t open the door to alternative solutions.

However you can’t just arbitrarily adopt a Flanking strategy, you must also have the right conditions in place.

  1. A flanking strategy requires that you offer a solution with unique business value informed by genuine insight about the customer’s needs.
  2. The proposed solution must also favor your unique strengths.
  3. You are devising a specific benefit or value for the customer that your competitor can’t match.

Let’s look at some examples:

In the 1990s, Oracle and Siebel dominated the CRM market. In 1999, salesforce.com entered the field. Rather than asserting, “We’ve got a better CRM,” Salesforce focused attention on a new perceived value by stating that their approach of delivering enterprise software from the cloud would yield a 10X easier deployment cycle. They didn’t sell based on CRM features. Their proposition was that Salesforce was easier to use and easier to deploy – a benefit against which the others couldn’t compete: a unique business value that the customer cared about. Over the last fifteen years Salesforce used a flanking strategy flawlessly and changed the rules in a big way.

In our own case at The TAS Group, we also adopted a flanking strategy to introduce our solutions. We examined the business of sales training, methodology and effectiveness tools: $10 billion of expenditure every year. But research showed that on average 87 percent of that training was ineffective after thirty days: $8.7 billion wasted. Clearly, traditional approaches weren’t the most effective investment for improving sales team productivity. Our solution, Dealmaker – embedded decades of sales methodology in a smart, easy-to-use software application – uniquely helps companies to operationalize their sales effectiveness initiatives – for true, sustained sales transformation. Our flanking strategy was born of this insight and helped us establish a new market category: “How do you operationalize your sales effectiveness? What do you do when the sales trainer leaves?”

While customers have an ever-increasing opportunity to research their own solution before they engage with a supplier you have an opportunity to shape the subsequent interaction by helping them to learn what you want them to know.

Feel free to download The TAS Group’s latest publication, Battling the 57%: Deconstructing the Buyer Seller Dance or for a more detailed treatment of how to add value to your customers, check out the #1 Amazon Bestseller Account Planning in Salesforce.

 

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Battling the 57% – Buyers Buy Different Things

There’s a statistic out there that buyers have, on average, progressed 57% through their buying process before they engage a salesperson. That ‘average’ piece seems to have been lost, and a commonly held-belief now is that this 57% is a fact in all cases.

How you act before and after ‘the 57%’ is a matter of choice, not a function of averages. Buyers buy different things, and sellers sell differently. You get to choose. But first, let’s explore the differences.

As we researched this topic, we spoke to many of our great customers to see what they had observed. Here’s their buyer’s point of view.

  • Xerox sells many things, including copier paper. Copier paper is a commodity. As a buyer I don’t need a lot of advice. I’m going to buy frequently and only care that the price/quality is reasonable.
  • Hewlett-Packard provides most things an IT buyer might need, including a cool laptop called the HP Envy – a little more complex than my copier paper.
  • If I wanted a temperature control system in our building, Honeywell is the place to go. It’s a more specialized purchase than a laptop.  I am probably going to need guidance and advice.
  • Harmonic sells media controller systems that manage video workflows in some of the world’s largest and most demanding video environments. That’s not something I want to buy on my own. I’ll need some consultative advice.
  • Box provides enterprise online data sharing and large-scale content management services. Buyers want to engage strategically when determining their enterprise content strategy. It’s a big commitment.
  • If you are choosing Salesforce as your CRM, it is likely to have significant impact on your business. You know it is important to get some serious advice.

As evident from these examples, there is a lot of variability in how buyers need to engage before buy, so let’s look about how you might deconstruct that.

Organizational Impact is a Driver of Buyer Engagement

If you engage early with the buyers in their buying cycle you will be more successful.  That is a core tenet of my book Account Planning in Salesforce (free extract here). Being a buyer isn’t as easy as it might seem. Understanding and articulating their own needs and then finding the best solution can be a stressful exercise.  The greater the organizational impact, the more stressful it gets.  Buyers need help.

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The two axes on this graph are cost and intellectual property (IP) intensity.  As they increase, so does organizational impact. Buyers then need help in establishing criteria, evaluating options and choosing a solution. The engaged salesperson can create value for their customer and gain more control of the deal.

There are also two other factors that matter: risk and frequency. Organizational risk is higher when choosing a CRM system than it is when buying copier paper. The buyer performs greater diligence and needs more guidance. Also, greater frequency translates to greater familiarity and less need for help. I buy copier paper more often than I buy a temperature control system so I know how to make the copier paper purchase on my own.

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In the chart here you can see in the top right quadrant, our buyer is more likely to engage the supplier early, because a business process infrastructure project is usually high cost, contains a lot of IP value and a bad decision carries significant risk.

Conversely, there is less IP value in purchasing utilities (e.g. electricity). The difference when buying office equipment is even more striking; Cost, IP and Risk are typically low and Frequency is high, so buyers are less likely to need a seller to guide them.

Here’s the thing: If your solutions don’t fit into the bottom left quadrant, your buyers likely want to engage with you (or your your competitor) much earlier in their process, and there are many things you can do to influence the outcome.

In the next post, I’ll help you understand how to respond when the buyer is in fact well along the path to developing a buying preference. In the meantime, please feel free to download our latest publication Battling the 57%: Deconstructing the Buyer Seller Dance.

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Battling the 57%: From Sex to Romance – The Ultimate Flank

Don’t be put off by the title. This might not be what you expect.  And sometimes that’s the point.

There is a lot of nuance behind the 57% statistic – the CEB research that says buyers are 57% through their purchase cycle before they contact a supplier – and there are things you should do before, during, and after, the 57% point, if indeed this applies to your business.  (I promise I will get to the romance shortly.)

I think it is important to reflect on what the 57% really means and the limit of its impact. It is getting a little out of control. (I have organized a webinar on March 25 to dispute/clarify/de-bunk/resolve a few of the myths.)  What is obvious is that you want to be in a position where you can educate the customer before they get to the 57% point. But let’s say that your buyer has indeed progressed 57% through their buying process before they contact you.  What do you do?

If the buyer is 57% through the cycle, then they will most likely have a preference for someone. If it is you then you might have a short sales cycle. Perhaps their search has been truly unbiased and you are now part of a short-list. But if their preference is for a competitor, you will need to change the criteria they have used to get this far.  Redefining customers’ purchase criteria is one of the most powerful ways you can wrest leadership from a competitor.  In the TAS methodology we refer to this a Flanking Strategy – and that gets me to a story I read in the December 2013 issue of Harvard Business Review.

From Sex to Romance – The Ultimate Flank.

Pfizer launched Viagra (the erectile dysfunction drug) in April 1998, with a record 600,000 prescriptions in that month alone at a price of $10 per dose. Pfizer created an entirely new market on the basis of one key criterion of purchase: efficacy. The drug got the job done! By 2001 annual sales had reached $1.5 billion.

Not long after that Cialis entered the market. Whereas Viagra was effective for four to five hours, Cialis lasted up to 36 hours, making it potentially much more convenient for customers to use.

At the time, the key criteria that physicians considered when prescribing were efficacy and safety with a combined relative importance of 70%. Duration had a relative importance of 10%.

The marketing team behind Cialis decided to emphasize the benefits of duration—being able to choose a time for intimacy in a 36-hour window, and set the price higher than Viagra to underscore its superiority.  The new criterion of purchase – marketed as romance and intimacy rather than sex – caught on. A BusinessWeek article reporting on an early positioning study stated, “Viagra users who had been informed of the attributes of both drugs were given a stack of objects and asked to sort them into two groups, one for Viagra and the other for Cialis. Red lace teddies, stiletto-heeled shoes, and champagne glasses were assigned to Viagra, while fluffy bathrobes and down pillows belonged to Cialis. In 2012 Cialis passed Viagra’s $1.9 billion in annual sales, with duration supplanting efficacy as the key criterion of purchase.

Flanking – redefining customers’ purchase criteria – is one of the most powerful ways you can wrest leadership from a competitor; you will undoubtedly have a powerful competitor if you truly only enter the deal 57% of the way through the process. To flank successfully you need something to flank to (i.e. your competitive UBV that the customer cares about) and someone to flank with (i.e. a supporter with the buyer’s organization who will help you navigate the last 43%).

I will discuss this and ways to avoid the 57% trap altogether on the webinar. I would love if you can join the conversation.

 

 

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7 Principles for Successful Sales Leadership

One of the perks of my job is the interaction I am privileged to have with so many great sales leaders. During the beta phase for a new solution we just launched (to help sales managers understand the potential vulnerabilities in the sales performance of their teams), I had more intensive interaction than usual with a number of sales leaders.  Going beyond the challenges of the front-line sales manager, which is really the problem that Dealmaker Sales Performance Insight helps with, I was struck by some common principles that seem to be consistently applied by those sales leaders who are at the top of their game.  Here is my synthesis of those conversations.

1.    Lead with Purpose:  Your team cares less about what you are telling them to do, but more about why you are asking them to do it. With a shared understanding of where you are headed together, you can more easily collaborate and communicate.  If you can articulate a higher purpose than just hitting the targets – they know they have to do that without you telling them – they will understand the ‘why’ you are taking the direction you are taking, and that is always more powerful than the ‘what’.  When ‘why’ is understood, the team has a better chance of figuring out the ‘how’.

2.    Set High Standards – Hold Everyone Accountable:  Inspire your team to execute to the best of their ability – every time. Every single internal and external interaction matters.  It reflects on your values if you let poor practices develop without instant intervention. Slow response to a customer, casual email communication, bad manners to internal colleagues, poor quality proposals to customers, or arriving late or unprepared to a meeting, all let you (and the whole team) down.

3.    Write the Plays – and then Play them Right: Sales strategy is relatively easy. Constant execution and sales discipline is harder, and separate the great from the mediocre.  From business development through follow-up after the sale, the overall sales process (or go-to-market strategy) will contain milestones, trigger points, best practices, disciplines, and specific recommended tactics. Writes the plays, and then ensure that they are rigorously adopted, every day.

4.    Be the Role Model: As a sales leader you will undoubtedly have other things on your plate distracting from your core task. De-prioritize these time thieves.  Spend your time on exhibiting to your team how you are holding yourself accountable to the high standards that you have set.  Lead from the front. Execute your plays. Remember, you are in charge.

5.    Be Prepared to Rebuild: If you don’t have the team you need, you must be prepared to re-build. Always be recruiting and building a bench. Just like nurturing prospects for future business, the sales people that you want to hire are probably not immediately available the first time you connect with them. Start the conversation early.

6.    Prepare to Win: Winning doesn’t happen by accident. It usually happens when you are better prepared than your competitor.  Methodology helps, but systematic planning will equip you to deal with situations that arise without warning.  Deal reviews, account plans, sales process refinement, smart sales software, are tools you might use. Once the game starts they are usually on their own and it is then too late to help your team.  You need to prepare them in advance to win.

7.    Embrace Change Methodically:  The business world continues to evolve. Buyers change. New competitors emerge. Economic stability fluctuates.  Responding to change is never easy – particularly when things are already going well. When things are going badly you might feel the need to press the restart button. In either case you must accept two constants; (1) you need to make this quarter’s number working with what you have today and (2) what you have today will need to change just in time to serve your needs tomorrow.

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What to do when “No Decision” is not in the customer’s best interest

I have written before about the only two reasons that you lose a sale;

  1. You should not have been there (chasing this particular opportunity), or
  2. You were outsold.

I know I have fallen at both of those hurdles.  Sometimes being outsold means you lost to the dreaded No Decision.  In fact according a report I read from CSO Insights this is happening 26% of the time. Ouch!

Now in most cases when the customer is making No Decision they are in fact making the right decision. They will have objectively evaluated the project, and decided that this particular project did not reach the required threshold of return, or was not as important as another more pressing initiatives.

But in some cases they are just afraid, and No Decision is taking the easy way out.  This No Decision will often be accompanied by phrases like; “I don’t think we have the right team in place to implement this project now”, “We need to learn to walk before we can run”, “I’m not sure the team is ready to embrace this amount of change.” In truth they are just afraid.

They might be afraid of making an investment for which they will be held accountable. They might be afraid of something that is new. They might be afraid of change. They might be afraid of upsetting the status quo lest it might threaten their own status.

In these cases they are not in fact making No Decision, they are making a decision not to fix a problem that is broken. They are taking cover in the status quo where they are less likely to be seen as the instigator of something that went wrong. Sometimes that is a consequence of organizational culture – and in other cases it is  individual responsibility being abbrogated, denied, or ignored. But, is it your job to tell them?

I’ve written before that ‘A bad buying decision usually has a greater impact on the customer than a lost sale has on the salesperson’.  I believe that to be true, and I further believe that it is the sales person’s responsibility to tell the customer if they think the customer is making a bad buying decision. It is part of delivering on the trust that you’ve tried to earn.

In all of this post I have assumed that there was a real problem that the customer wanted to fix, the issues were identified, you were speaking the people who had the power to make the decision, and you had developed a joint vision of the desired end-state.  Then the customer got cold feet.

But how do you tell the No Decision customer that they have made the wrong decision – without it appearing as mere sour grapes, or that all you care about is selling them your solution?

  • First, be honest to yourself and about yourself. Acknowledge that you have failed to provide enough evidence to the customer to make them comfortable to make a positive decision.
  • Second, restate the problem you think the customer was trying to solve and the impact of No Decision
  • Third, withdraw from the sale, pointing out that this maybe the impetus for the customer to act (and maybe buy from your competitor.)   This is in the best interests of the customer. Maybe you’ve nothing to lose anyway, but that’s not the point. The point is that you must maintain your integrity.Your initial contract with the customer prospect was to help them solve their business problem.  That’s where you started and that’s where you should finish.

You have two other alternatives to this approach. (1) You can do nothing except walk away and lick your wounds. That serves neither party well, or (2) You can seek other (perhaps more senior) people in the organization who will reverse the No Decision made by your contact – but that’s the subject of another post.

I’d love to hear your thoughts. This is not a simple question.

 

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10 Things Every Sales Manager Should Know About Sales Performance (Infographic)

Thanks to our friends over at Work.com for helping us with this infographic.

10 Things Every Sales Manager Should Know

 

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The data in this infographic is based largely on the Dealmaker Index Global Sales Benchmark Study.

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When is your Win Rate not your Win Rate?

It seems pretty simple at first, but calculating your Win Rate is not as straightforward as it might appear. In most cases sellers will think about their Win Rate as the number of wins as a percentage of the number of opportunities that were pursued. But that doesn’t tell the full story.

Let’s say I am working the four deals listed here.

  • Deal A: $20,000
  • Deal B: $10,000
  • Deal C: $40,000
  • Deal D: $30,000

Scenario 1:

In this case the results of the four sales cycles are as follows:

  • Deal A: $20,000 – WIN
  • Deal B: $10,000 – WIN
  • Deal C: $40,000 – LOSS
  • Deal D: $30,000 – LOSS

I win Deal A and Deal B, and lose Deal C and Deal D.  Win two. Lose two.  That may be viewed as a 50% Unit Win Rate.

However, when we add the values of the deals, we get a different result.  The aggregate of A and B is $30,000, where C and D together to a value of $70,000.  On a value basis this translates to Value Win Rate of 30%.

If you look at your pipeline as a predictor of future revenue, using your win rate, as factor of value, then you should consider the difference between Unit Win Rate and Value Win Rate.

 

Scenario 2:

But while deals of a similar profile generally follow a similar sales cycle, it is rarely the case that a group of opportunities will all start and finish at the same time.  Time itself is the added dimension.

In this scenario, only three of the four deals close in the time period we are measuring.

  • Deal A: $20,000 – WIN
  • Deal B: $10,000 – WIN
  • Deal C: $40,000 – OPEN
  • Deal D: $30,000 – LOSS

Once again I win Deal A and Deal B, and lose Deal D, but the sale cycle for Deal C has not yet come to a conclusion – or, as is equally likely, I have actually lost Deal C, but have not recorded it as lost, or I just have not realized that I have lost it.

With two wins and one loss, you could argue that the Unit Win Rate is 66%. Following this logic, the Value Win Rate would be 50%, as the total of A and B is $30,000 and the value of D is $30,000.

But what about Deal C?  Can I ignore the fact that I have been expending resources on this deal that has yet not be completed?  I think not.

Whichever path you take to measure Win Rate, you need to do so with your eyes open, and focus not just on the headline Win Rate number, but what it means to understand the patterns in your business.

At The TAS Group, we have extensively researched how companies measure Win Rate and what this number means to them. Those who use Dealmaker appear to have a much deeper understanding or their win rate and how it plays into their overall sales velocity equation.  In addition we have learned that in addition to the variables that play into the two scenarios outlined above, it is very important to be able to measure win rate from different positions in the pipeline.  We tend to refer to this as Pipeline Conversion Rate; i.e. the conversion to win from stage X in the pipeline.  The value of this approach is a deeper understanding of the value required in each stage of the pipeline to ensure you have adequate coverage to enable you to attain future revenue goals.

As with other sales performance initiatives, the key thing about measuring Win Rate is that by first understanding the questions you want to ask, and applying the appropriate tools to help you uncover the metrics that matter, you can get a clear picture of the problems you have to solve.  That’s always a good place to start.

 

 

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12 Elements of a Great Sales Playbook

The implementation of a sales playbook can be one of the most impactful initiatives for any sales organization. There are two reasons for this tremendous ROI. First, by following some simple guidelines, it can be a remarkably easy initiative to implement, and second, research shows that this results in 33% additional revenue.

We have done hundreds of Sales Playbook deployments with Dealmaker Smart Sales Playbook. Here are the 12 Elements of a great sales playbook that you should use to guide your implementation. 

1. Repeatable Winning Sales Processes

The key word here is ‘repeatable’. When everyone adopts the same sales process, there is a common language that is understood, not just by sales, but by the whole organization.  Recent research shows that while only 60% of sales teams have a sales process that is well defined, and well executed – those who do are 33% more likely to be High Performers*.

2. Customized to the Buying Cycle

Customers buy in lots of different ways; some purchases are guided by a single decision maker, while in other cases there can be a large buying committee. Some issue RFPs (health-warning!), others invite recognized suppliers to discuss their issues,  an increasing number learn in the Social Universe, and just a few remain with the incumbent supplier trading ‘the devil you know’ for potentailly more advanced or competitive solutions. Unless you visualize the journey the customer wants to take, you won’t be with them when they reach their destination.

3. Sales Tools in Context at Each Stage

At each stage of the buying process, salespeople need to employ just the right tools – at the right time to advance the sale to the next stage in the process.  A B2B sale is not a single event. In fact it is a collection of micro-sales events, each crafted to move closer to the eventual goal. Salespeople are busy and often don’t know which tool they need, where to find it or how to use it at the specific point in the micro-sale. Integrating sales tools into the playbook as part of the sales process is the solution.

4. Industry Sales Process Templates

It is widely accepted that tailoring your sales process to the specific needs of an industry will increase your chances for success. Third party industry sales templates are readily available from suppliers who have been tracking and analyzing millions of sales cycles.  That is the catalyst you need to get started.

5. Many Simple and Complex Processes

One playbook or sales process does not fit all.  Sometimes you are pursuing a brand new customer or a very large deal that demands a complex and sophisticated set of ‘plays’ to win the deal.  In other cases, the transaction might be quick,  one that suggests a diffferent rhythm. Your sales playbook should have the requisite intelligence to support that automatically and serve up the right playbook at the right time.

6. Process, Benchmarks and Insight

Benchmarking delivers many advantages for companies looking to improve the performance of their sales organization. Your playbook must capture those benefits, learn from them, and uncover inisghts that help you to drive your sales velocity.  When deploying a playbook, ensure that you have built in a capability that guides you to progress through these stages of evolution for your sales team.

7. Team Visibility for the Sales Manager

Being a front-line sales manager is one of the hardest jobs in sales.  It is also the critical link in sales.  Unless the sales manager has with all the tools he or she needs to easily manage the business, the whole performance of the sales organization suffer.  You need to provide them with the ‘Easy Button’.  Sales playbooks are often designed just with the sales person in mind.  Remember that the sales manager is the critical link.

8. Integrates with CRM System

This one should be a ‘no-brainer’. The playbook must integrate tightly with the CRM system so when the sales person works with an opportunity, the playbook will always be present, just where it needs to be.  That way the playbook (if it is smart enough) can react to the attibutes of the opportunity, like the size of the deal, or the products included in the opportunity record to present the right playbook for that opportunity. Complete integration with your CRM delivers the  optimum experience for the sales person, and provides sales managers with greater flexibility on how they view the data in the context of the rest of the business.  It is important.

9. Informs Sales Forecast Visibility

Salespeople spend about 2.5 hours each week on sales forecasting, and for most companies, the accuracy of sales forecasts leave a lot to be desired. To maximize the impact of your sales playbook on the accuracy of your sales forecast, there are two things to consider. (1) Does the sales playbook incorporate intelligence that objectively monitors the close date of the sale? (2) Does the sales playbook provide the sales manager with insight into deal vulnerabilities and risks in the forecast?

10. Motivational and Visual

There are only two reasons why an individual does not complete a task.  Either they do not have the competence, or they are not motivated enough  to do it.  Think about that – these are the only two reasons.  Your sales playbook should improve competence and increase motivation.  The competence piece is easily understood.

Motivation is a little more challenging. A study on What Motivates Sales People shows that, perhaps surprisingly for some, compensation is not the primary motivator. ‘Making Progress of Winning’ is ranked by sales people as the main reason they get up in the morning. To entice adoption of the sales playbook (rather than force compliance) your sales playbook needs to provide true value for the sales person – resolve that reward/effort equation, so that the salesperson gets more back from the playbook that they put into it.

11. Social and Collaborative

As B2B companies rely more heavily on social collaboration tools, some of the biggest gainers are going to be salespeople. Sales people who are the leaders in their organization are using social tools such as Chatter in Salesfore to improve collaboration in their own sales teams. Leading sales playbooks help by letting everyone ‘follow’ the plays, contributes to the conversation, and collaborate on the deal. The B2B world is constantly becoming more social and collaborative and you should ensure that your sales playbook accommodates this advancement.

12. Mobile and Cloud

Time is precious, and the sales person’s time is incredibly precious, both to them and to the sales organization looking to maximize the performance of their key quota-bearers.  Since so much of a sales person’s time is spent moving between A and B and back again, they should be equipped with the mobility to connect to their sales playbook allowing them to be responsive, productive, collaborative and consistent at any time, wherever they are. In other applications, mobile and cloud capabilities are being leveraged to facilitate access anywhere, anytime.  It must be the same with your sales playbook. Unless mobile and cloud are core elements of your sales playbook plan, the initiative could face severe challenges in a very short term.

 

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