Sales Readiness

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Information about Sales Readiness
Business

Published on October 1, 2009

Author: mattat3forward

Source: slideshare.net

Description

What companies need today to be Sales Ready - how to compete, develop pipeline and accelerate revenues.

Sales Readiness 2010 Sales Leader Series – TeleBriefing #3 October 1, 2009

Sales Readiness 2010 – Today’s Panel Dan Hudson Frank Casale Matt Smith President, Co-Founder CEO and Founder, EVP, Co-Founder 3forward The Outsourcing Institute 3forward The Outsourcing Institute / 3forward All Rights Reserved 2

Sales Leader Series – Fall 2009 Escaping Pipeline Purgatory - click to view Sept, 17 2009 Creating Qualified Opportunities (Not Just Leads) - click to view September 24, 2009 Sales Readiness for 2010 – click to view October 1, 2009 2.0 Sales Tools for the Real World - click to register October 19, 2009 Outsourcing Buyers Panel: “Providers, Why We (Really) Buy” October 27, 2009 - click to register Sales Leaders Dream Team - click to register November 5, 2009 Q4 State of the Outsourcing Industry – Buyers Viewpoint November 19, 2009 - click to register The Outsourcing Institute / 3forward All Rights Reserved 3

Sales Readiness – Our View Sales readiness is It’s like building an on-going an “Off Season” process, not an game plan during end-state the playoffs It is results driven and continuously improving The Outsourcing Institute / 3forward All Rights Reserved 4

The Sales Ready Company Sales Ready Companies Excel At: Identifying, Managing a Maintaining Having a Aligning nurturing opportunity Fostering a sales teams well with and pipeline sales with defined customers’ delivering that centric superior sales buying qualified delivers the culture skills strategy process leads to the “Revenue sales teams Plan” The Outsourcing Institute / 3forward All Rights Reserved 5

Focus on People Turnover can Slow Retaining key have positive Sales support economies talent and and negative roles become stratify sales attracting new effects on sales more critical organizations talent is critical performance Sourcing of top Opportunity talent is an management ongoing event Client Solutions Contracts The Outsourcing Institute / 3forward All Rights Reserved 6

Profiling The High Performer Seen as a Continuously trusted meet or exceed partner by quota clients Establish internal Follow company (or trust by individually) supporting their established sales company’s needs processes Highly self motivated The Outsourcing Institute / 3forward All Rights Reserved 7

Repair or Replace Considerations before turning over a sales rep or team: • Was their quota appropriate • Are they getting the support needed to be successful • Validity of existing pipeline • Relationships with key clients • Their investment in themselves • Required sales management time to address deficiencies • Ramp time to bring a replacement up to speed The Outsourcing Institute / 3forward All Rights Reserved 8

Revenue Planning Process Good Include understanding marketing in the Current sales of current sales Accurate sales to process - as they Confident vision pipeline benchmarks revenue own lead of current validated for •Deal size, closing conversion ratios generation revenue stream accuracy rate, cycle time and timelines •Assign a portion of the revenue quota to them The Outsourcing Institute / 3forward All Rights Reserved 9

Revenue Planning Assumed Close Rate 25% 2009 2010 Plan Year One Plan Year Two Annual Value Annual Required Closed Value Qualified During Converted CYR ABR CYR ABR Award Totals Pipeline Quarter at Signing Q1 Q2 Q3 Q4 2009 Base Q1 Q2 Q3 Q4 2010 Base '10 Q1 Wins 23.80 7.00 5.95 0.74 1.49 1.49 1.49 5.21 5.95 1.49 1.49 1.49 1.49 5.95 5.95 '10 Q2 Wins 68.00 20.00 17.00 2.13 4.25 4.25 10.63 17.00 4.25 4.25 4.25 4.25 17.00 17.00 '10 Q3 Wins 102.00 30.00 25.50 3.19 6.38 9.56 25.50 6.38 6.38 6.38 6.38 25.50 25.50 '10 Q4 Wins 136.00 40.00 34.00 4.25 4.25 34.00 8.50 8.50 8.50 8.50 34.00 34.00 329.80 97.00 82.45 29.64 82.45 20.61 20.61 20.61 20.61 82.45 82.45 '11 Q1 Wins 153.00 45.00 38.25 4.78 9.56 9.56 9.56 33.47 38.25 '11 Q2 Wins 153.00 45.00 38.25 4.78 9.56 9.56 23.91 38.25 '11 Q3 Wins 153.00 45.00 38.25 4.78 9.56 14.34 38.25 '11 Q4 Wins 153.00 45.00 38.25 4.78 4.78 38.25 612.00 180.00 153.00 76.50 153.00 The Outsourcing Institute / 3forward All Rights Reserved 10

Revenue Planning Lead Generation • Owned by marketing - accountable to sales • Lead generation by sales is a waste of their time! • Investigate and implement 2.0 tools • Formalized hand-off process to and from sales • Formal lead nurturing process established • Easy to use CRM system to manage and report leads and activities • Forces Sales to continue prospecting process The Outsourcing Institute / 3forward All Rights Reserved 11

Pipeline Management Sales phase methodology Use a factored revenue approach Review at least twice monthly Plan for overachievement of pipeline targets Think you have enough pipeline… you don’t! The Outsourcing Institute / 3forward All Rights Reserved 12

Pipeline Revenue Factoring Revenue Opportunity Stages Probability Activity Projection Opportunity ID'd 10% Potential opportunity identified Idea Discussed 20% Client confirms issues, challenges, need… Concept Delivered 30% Written concept submitted to prospect Solution Meeting Complete 40% Concept discussed; including how and when to begin Full Solution Delivered 50% Solution submitted, including outcomes, timeline & pricing 10% Solution Validated 60% Proposal modified if necessary / Resubmitted 30% Verbal Approval 75% Client decision maker accepts proposal 50% Terms Negotiation 90% Contract and SOW in review / negotiation 70% Formal Award 100% Contract and SOW signed 100% Opportunity Lost 0% Dead or Delayed 0% 3forward Opportunity Stage Definitions© The Outsourcing Institute / 3forward All Rights Reserved 13

The Sales Ready Company Sales Ready Companies Excel At: Identifying, Managing a Maintaining Having a Aligning nurturing opportunity Fostering a sales teams well with and pipeline sales with defined customers’ delivering that centric superior sales buying qualified delivers the culture skills strategy process leads to the “Revenue sales teams Plan” The Outsourcing Institute / 3forward All Rights Reserved 14

TAKING OI ON THE ROAD… Outsourcing 2.0: From Theory to Reality Are you still doing it the old fashioned way? London, Dallas, San Francisco, Miami, Washington DC, New York, Chicago Outsourcing 2.0 - the new outsourcing and what it means to you - your strategy, your process and your career. More Cities coming soon… Check out www.outsourcing.com/roadshow With the largest outsourcing network in the world and the most trafficked outsourcing portal on the internet at Outsourcing.com, OI is the go-to-source for those seeking targeted sales and marketing traction and ROI in the outsourcing space. If you need: - Qualified Outsourcing Leads, - Exposure to outsourcing decision-makers - Thought Leadership opportunities Contact Jared Gleason at 516-279-6850 x712 or e-mail jgleason@outsourcing.com to request an 2009 The Outsourcing Institute overview summary on promotional vehicles.

Sales Readiness 2010 Workshop • Sales strategy • Priority target markets • Selling model – structure and channels • Sales team • Prospecting and lead generation • Pipeline and revenue forecasting For Information: To Discuss: Sales Readiness 2010 Workshop Matt.Smith@3forward.net 3forward, LLC; All Rights Reserved 16

Resources The Outsourcing Institute Group OI 3forward The OI Roadshow 3forward Sales Leaders Blog 3forward’s New Tools Directory Other OI’s Recruiting Home Page Outsourcing 2.0 The Outsourcing Institute / 3forward All Rights Reserved 17

Outsourcing 2.0 Roadshow London October 8, 2009 Register Dallas October 13, 2009 Register San Francisco October 15, 2009 Register Miami October 29, 2009 Register Washington, DC November 12, 2009 Register New York City December 3, 2009 Register Chicago December 8, 2009 Register The Outsourcing Institute / 3forward All Rights Reserved 18

Sales Leader Series – Fall 2009 Escaping Pipeline Purgatory - click to view Sept, 17 2009 Creating Qualified Opportunities (Not Just Leads) - click to view September 24, 2009 Sales Readiness for 2010 – click to view October 1, 2009 2.0 Sales Tools for the Real World - click to register October 19, 2009 Outsourcing Buyers Panel: “Providers, Why We (Really) Buy” October 27, 2009 - click to register Sales Leaders Dream Team - click to register November 5, 2009 Q4 State of the Outsourcing Industry – Buyers Viewpoint November 19, 2009 - click to register The Outsourcing Institute / 3forward All Rights Reserved 19

Thank You For Joining Sales Readiness 2010 Sales Leader Series – TeleBriefing #3 October 1, 2009

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