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Sales performance optimization

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Information about Sales performance optimization
Business

Published on October 15, 2014

Author: petingenieria

Source: slideshare.net

Description

Sales performance optimization, for sellers in South America
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1. Redouble our selling efforts SS South America Edson Rocha WPG

2. Implement Management System for AutoJet opportunities SALESPEOPLE WILL DO WHAT THEIR MANAGER INSPECTS NOT WHAT THE MANAGER EXPECTS

3. 2012 Goals  Continue efforts to grow our:  Sales  Profits  Market share Sell more systems  100% use of SPX  Improve our hit rates  Improve our solution selling capabilities Become more proactive about prospection and market development

4. Differences Across the Value Chain

5. The Strategy Operational Effective Strategies Achieve the “best cost” in all business process Customer Management Strategies Focus on understanding customer profitability Product Innovation Strategies Develop new products, markets, and relationships to sustain future growth

6. Strategies Across the Value Chain Operational Effective Strategies Achieve the “best cost” in all business process Customer Management Strategies Focus on understanding customer profitability Product Innovation Strategies Develop new products, markets, and relationships to sustain future growth

7. Sales Effectiveness Landscape

8. The thirst for Industry Knowledge Driven by our customers’ expectations THE BEST THE WORST 4 Solutions Reduction of water consumption of a fruit juice tank instead of nozzles and Accessories • Industry competence • Process competence LOCAL 3T / SF 3 Combination with services! Commissioning, Engineering drawings, Construction supervision 2 Bundle products 1 Nozzle and Accessories

9. Action Plans  Develop sales materials and collaterals aligned with solution selling approach.  Develop a training program involving regular and on-the-job learning.  Increase the chances of winning opportunities  Use the Pipeline Analysis Worksheet to identify gap.  Create a plan to close the gap if one exists.  Develop a plan to win opportunities  Increase proficiency of the salespeople  Support salespeople when they take back proposals over 30 days old  Identify selling problems (Skills and Process)  Apply coaching for action  Increase their own productivity  Manage by exception  Build a more productive pipeline  Anticipate and avoid shortfalls  Provide follow-up education to reinforce sales process concepts and job aids  Increase forecasting accuracy  Define and measure sales key performance indicators.

10. The Cycle of Managing the Sales Business Identify Skill Issue Analyze Opportunity Analyze Pipeline Coach Skill Issue Coach Opportunity Update Database Follow-up D I A G N O S E C O A C H Management by exception

11. Pipeline Milestones and Opportunity Review Checklist Competitive Strategy: ____________________  Opportunity Assessment conducted supports strategy Plan  Identify potential opportunity T-0%  Territory, Account or Opportunity Plan Create  Identify potential beneficiary  Stimulate interest  Get pain admitted  Confirm dialogue and agree upon next steps  Name and title of potential beneficiary  Business development approach and job aids used  Pain articulated by beneficiary Lead Letter sent and content agreed upon S-10%  Lead Letter Qualify  Diagnose admitted pain of Sponsor  Create or reengineer vision with Sponsor  Gain agreement to explore further  Negotiate access to Power  Confirm dialogue & agree upon next steps  Pain articulated by potential Sponsor  Differentiated vision and value articulated by Sponsor  Power Sponsor’s name and title  Sponsor Letter sent and content agreed upon D-25%  Sponsor Letter Develop  Diagnose admitted pain of Power Sponsor  Create or reengineer vision for potential Power Sponsor  Gain agreement to explore further  Determine evaluation criteria  Propose a plan of next steps  Confirm dialogue & agree upon plan of next steps  Pain articulated by potential Power Sponsor  Differentiated vision and value articulated by Power  Power Sponsor Letter & draft Evaluation Plan sent  Evaluation Plan modified or agreed upon C-50%  Evaluation Plan Prove  Begin execution of next steps  Present preliminary solution  Prove capabilities (O/T/F)  Conduct review of proposal  Ask for the business  Issue proposal (decision due) *  Receive verbal approval  First step accomplished (Go/No Go Step Letter)  Audience, date and time of pre-proposal review  Who was asked? What was their response?  Who gave approval? What was their indication? B-75%  Verbal approval received Negotiate  Prepare for final negotiations  Reach final agreement  Negotiating Worksheet and Get-Give List  Who? What is agreed upon? A-90%  Terms and conditions agreed upon Close  Get necessary documents signed W-100%  Documents signed

12. Pipeline Milestones Revisited Using Win Odds to Calculate Potential Yield Win Odds Code Sales Process Step Verifiable Outcomes Plan 0% T  Territory / Account / Opportunity Plan Create 10% S  Lead Letter Qualify 25% D  Sponsor Letter Develop 50% C  Evaluation Plan Prove 75% B  Verbal approval Negotiate 90% A  Terms and Conditions agreed upon Close 100% W  Signed documents Plan Create Qualify Develop Prove Negotiate Close

13. Pipeline Report (Including Yield) Sales Process Step Completed with Corresponding Win Odd (%) Attained Date: Create Qualify Develop Prove Negotiate Close July 1st 10% 25% 50% 75% 90% 100% Pipeline Total Rep Quota $K # $K # $K # $K # $K # $K # $K # Pedro $500K 550 8 100 2 50 1 40 1 60 1 50 1 850 14 Wagner $750K 450 10 550 7 200 4 50 1 100 2 80 2 1,430 26 Celio $625M 250 3 150 2 50 1 50 1 60 1 180 3 740 11 David $625K 150 2 150 2 150 4 120 2 40 1 60 1 670 12 Fabio $500K 600 10 300 5 130 2 50 1 80 2 120 2 1,280 22 Caloi $ 500K 250 3 50 1 40 1 50 1 120 2 70 1 580 9 Gomez $ 750K 50 1 150 3 50 1 0 0 70 1 120 2 440 8 Felipe $ 750K 200 3 150 4 40 1 0 0 40 1 30 1 460 10 Total $5M 2,500 40 1,600 26 710 15 360 7 570 11 710 13 6,450 112 Yield 250 400 355 270 513 710 2,498

14. Possible Actions to Fill a Gap  Increase win odds  Increase the size of the current opportunities  Shorten the average sell cycle length  Find more opportunities during “planning” Revenue improvements generally occur by impacting any of the four effectiveness levers in this formula: (Average Deal Size X Average Win Rate X Number of Deals)/Length of Sales Cycle

15. Strength of Sale Check Worksheet PAIN SCALE Customer: __________ Opportunity: __________ Date Updated: __________ 0 No identification of need or pain by customer 1 Salesperson assumes Sponsor’s needs 2 Sponsor admits needs 3 Sponsor admits reasons / symptoms for pain 4 Sponsor admits pain 5 Salesperson documents pain, Sponsor agrees 6 Salesperson assumes Power Sponsor’s needs 7 Power Sponsor admits needs 8 Power admits reasons / symptoms for pain 9 Power Sponsor admits pain 10 Salesperson documents pain, Power agrees POWER SCALE 0 Power Sponsor not identified 1 Decision process revealed by Sponsor 2 Potential Power Sponsor identified 3 Bargain for access to Power agreed by Sponsor 4 Access to Power Sponsor achieved 5 Buying and decision processes confirmed 6 Power Sponsor agreed to explore further 7 Power Sponsor agreed to Evaluation Plan 8 Power Sponsor agreed to proposal content 9 Power Sponsor provided verbal approval 10 Power approved/provided contract signature Pain 0 0 0 Power Control 10 0 0 Vision Value VISION SCALE VALUE SCALE CONTROL SCALE 0 No vision or competitive vision established 0 Customer explores solution, value not identified 0 No follow-up documentation of client conversations 1 Vision for Sponsor created in product terms 1 Salesperson identifies customer value proposition 1 Lead Letter (email) sent 2 Vision for Sponsor created in situational terms 2 Customer agrees to explore the value proposition 2 Lead Letter (email) agreed upon or modified 3 Differentiated vision created with Sponsor 3 Value discovered associated with Pain 3 Sponsor Letter (email) sent 4 Differentiated vision documented to Sponsor 4 Value discovered associated with Vision 4 Sponsor Letter (email) agree upon or modified 5 Documentation agreed to by Sponsor 5 Customer confirms or modifies potential value 5 Seller gained agreement to pre-proposal review 6 Vision for Power created in product terms 6 Additional beneficiaries included in value potential 6 Power Sponsor Letter (email) & Evaluation Plan sent 7 Vision for Power created in situational terms 7 Value analysis conducted – driven by salesperson 7 Letter and Evaluation Plan agree upon or modified 8 Differentiated vision created with Power 8 Value analysis conducted – driven by customer 8 First Go-No Go Step completed 9 Differentiated vision documented to Power 9 Value analysis conducted – jointly produced 9 Pre-proposal review conducted 10 Documentation agreed to by Power 10 Value of solution meets decision criteria 10 Evaluation Plan completed

16. Strength of Sale Check Worksheet – “February 17th Example” PAIN SCALE Customer: Rocket Opportunity: Database Date Updated: Feb 17 _____ 0 No identification of need or pain by customer 1 Salesperson assumes Sponsor’s needs 2 Sponsor admits needs 3 Sponsor admits reasons / symptoms for pain 4 Sponsor admits pain 5 Salesperson documents pain, Sponsor agrees 6 Salesperson assumes Power Sponsor’s needs 7 Power Sponsor admits needs 8 Power admits reasons / symptoms for pain 9 Power Sponsor admits pain 10 Salesperson documents pain, Power agrees POWER SCALE 0 Power Sponsor not identified 1 Decision process revealed by Sponsor 2 Potential Power Sponsor identified 3 Bargain for access to Power agreed by Sponsor 4 Access to Power Sponsor achieved 5 Buying and decision processes confirmed 6 Power Sponsor agreed to explore further 7 Power Sponsor agreed to Evaluation Plan 8 Power Sponsor agreed to proposal content 9 Power Sponsor provided verbal approval 10 Power approved/provided contract signature Pain 0 0 0 Power Control 10 0 0 Vision Value VISION SCALE VALUE SCALE CONTROL SCALE 0 No vision or competitive vision established 0 Customer explores solution, value not identified 0 No follow-up documentation of client conversations 1 Vision for Sponsor created in product terms 1 Salesperson identifies customer value proposition 1 Lead Letter (email) sent 2 Vision for Sponsor created in situational terms 2 Customer agrees to explore the value proposition 2 Lead Letter (email) agreed upon or modified 3 Differentiated vision created with Sponsor 3 Value discovered associated with Pain 3 Sponsor Letter (email) sent 4 Differentiated vision documented to Sponsor 4 Value discovered associated with Vision 4 Sponsor Letter (email) agree upon or modified 5 Documentation agreed to by Sponsor 5 Customer confirms or modifies potential value 5 Seller gained agreement to pre-proposal review 6 Vision for Power created in product terms 6 Additional beneficiaries included in value potential 6 Power Sponsor Letter (email) & Evaluation Plan sent 7 Vision for Power created in situational terms 7 Value analysis conducted – driven by salesperson 7 Letter and Evaluation Plan agree upon or modified 8 Differentiated vision created with Power 8 Value analysis conducted – driven by customer 8 First Go-No Go Step completed 9 Differentiated vision documented to Power 9 Value analysis conducted – jointly produced 9 Pre-proposal review conducted 10 Documentation agreed to by Power 10 Value of solution meets decision criteria 10 Evaluation Plan completed

17. Strength of Sale Check Worksheet – “March 1st Example” PAIN SCALE Customer: Rocket Opportunity: Database Date Updated: Mar 1 _____ Feb 17 _____ 0 No identification of need or pain by customer 1 Salesperson assumes Sponsor’s needs 2 Sponsor admits needs 3 Sponsor admits reasons / symptoms for pain 4 Sponsor admits pain 5 Salesperson documents pain, Sponsor agrees 6 Salesperson assumes Power Sponsor’s needs 7 Power Sponsor admits needs 8 Power admits reasons / symptoms for pain 9 Power Sponsor admits pain 10 Salesperson documents pain, Power agrees POWER SCALE 0 Power Sponsor not identified 1 Decision process revealed by Sponsor 2 Potential Power Sponsor identified 3 Bargain for access to Power agreed by Sponsor 4 Access to Power Sponsor achieved 5 Buying and decision processes confirmed 6 Power Sponsor agreed to explore further 7 Power Sponsor agreed to Evaluation Plan 8 Power Sponsor agreed to proposal content 9 Power Sponsor provided verbal approval 10 Power approved/provided contract signature Pain 0 0 0 Power Control 10 0 0 Vision Value VISION SCALE VALUE SCALE CONTROL SCALE 0 No vision or competitive vision established 0 Customer explores solution, value not identified 0 No follow-up documentation of client conversations 1 Vision for Sponsor created in product terms 1 Salesperson identifies customer value proposition 1 Lead Letter (email) sent 2 Vision for Sponsor created in situational terms 2 Customer agrees to explore the value proposition 2 Lead Letter (email) agreed upon or modified 3 Differentiated vision created with Sponsor 3 Value discovered associated with Pain 3 Sponsor Letter (email) sent 4 Differentiated vision documented to Sponsor 4 Value discovered associated with Vision 4 Sponsor Letter (email) agree upon or modified 5 Documentation agreed to by Sponsor 5 Customer confirms or modifies potential value 5 Seller gained agreement to pre-proposal review 6 Vision for Power created in product terms 6 Additional beneficiaries included in value potential 6 Power Sponsor Letter (email) & Evaluation Plan sent 7 Vision for Power created in situational terms 7 Value analysis conducted – driven by salesperson 7 Letter and Evaluation Plan agree upon or modified 8 Differentiated vision created with Power 8 Value analysis conducted – driven by customer 8 First Go-No Go Step completed 9 Differentiated vision documented to Power 9 Value analysis conducted – jointly produced 9 Pre-proposal review conducted 10 Documentation agreed to by Power 10 Value of solution meets decision criteria 10 Evaluation Plan completed

18. Strength of Sale Check – Forecast Input Example Customer Mittal Opportunity BOF Date Updated 1 Apr 10 9 8 7 6 5 4 3 2 1 0 Pain Power Vision Value Control 1/apr 17-Mar

19. Identify and Coach Skill Issue in the Selling Process Selling Skills Key Evidence Prospecting Qualification Need Development (Sponsor) Need Development (Power Sponsor) Process Control Negotiating and Closing Lead Letter Sponsor Letter Power Sponsor Letter & Evaluation Plan Evaluation Plan (Go/No Go Events) Negotiating Worksheet Create Qualify Develop Prove Negotiate Close

20. Skill Coaching or Opportunity Coaching? Characteristics Skill Coaching Opportunity Coaching  Problem is pervasive across multiple opportunities   Problem identified in only one opportunity  Long-term actions   Short-term, imminent actions  General   Specific to opportunity  Delayed Improvement   Quick results  Goal: Skill Improvement   Goal: Opportunity Win  Often done as a result of Pipeline Analysis   Often done during or right after Opportunity Analysis Key Question: What is needed by this person at this time?

21. GRAF Coaching Model REASONS Understand / acknowledge the REASONS for the GAP (Reasons why the gap exists) Commit to a joint plan of ACTION to address the GAP (What will be accomplished to remedy) ACTION GAP Understand / acknowledge the GAP between what is wanted or expected and the reality of the situation (Admit the Pain) FOLLOW-UP to ensure that the ACTIONS were satisfactorily completed (Determine if the GAP has been addressed) FOLLOW-UP

22. Key Pain Indicators Units Increase Opportunities* Current Leads Volume 144 % Increase Leads Volume 265% Leads Generated Total 525 Increase Deal Size* Current Average Deal Size $150.000 Increase Average Deal Size 30% Average Deal Size $ 195.000 Reduce Sales Cycle* Current Average Sales Cycle 5 % Sales Cycle Reduction 0% Sales Cycle 5 Increase Win Rate* % Current Average Win Rate 10% % Increase Win rate 150% Win Rate 25% Revenues New Scenario from Sales Producutivity Increase (A+B+C+D) 12.796.875 Revenues New Scenario - Subtotal 12.796.875,00 Revenues Captured from Reducing Discounts Revenues New Scenario 12.796.875 % usual discount from revenues 7% % discounts reduction 0% Revenue from Reducing Discounts $ - TOTAL REVENUES - NEW SCENARIO $ 12.796.875 TOTAL REVENUES - FORECAST 2007 $ - REVENUES DIFFERENCE NEW SCENARIO X FORECAST 2007 $ 12.796.875

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