Weitere ähnliche Inhalte Ähnlich wie Can Better Forecasting Improve Sales Performance? (20) Kürzlich hochgeladen (20) Can Better Forecasting Improve Sales Performance?1. © 2017 ValueSelling Associates, Inc. All rights reserved.
Can better
forecasting
improve sales
performance?
JULY 20, 2017
Carlos Nouche, Vice President
Visualize, a leading ValueSelling provider
This document contains proprietary information of ValueSelling Associates. Its receipt or
possession does not convey any rights to reproduce or disclose its contents or to
manufacture, use, or sell anything it may describe. Reproduction, disclosure, or use without
specific written authorization of ValueSelling Associates is strictly forbidden.
2. © 2017 ValueSelling Associates, Inc. All rights reserved.
Today’s Agenda
The importance of forecasting: to you & to your organization
Leveraging the ValueSelling Framework for forecasting
The Value Buying process
Using the Opportunity Checklist
Opportunity Assessment tool to identify and reduce risk
4. Answers
© 2017 ValueSelling Associates, Inc. All rights reserved.
• I was told to attend.
• When I have deals slip and no
other way to cover, it is costly and
often embarrassing.
• I’m pretty good at hitting the
number but my manager is a
stickler if what we call doesn’t
close…especially if deals come in
that weren’t identified.
• I want to get better.
• If I can improve my ability to qualify,
I can spend time on deals that have a
higher probability of closing.
• I just want my manager off my back!
• I want to make more $.
• I want to move into management.
• As the CRO, I need to answer to the
board/private equity management.
5. © 2017 ValueSelling Associates, Inc. All rights reserved.
Seller – YTD Performance
Ahead
Behind
On Target
Where are you?
Accelerate - $$/Time off
Demonstrate competency
Work smarter
What do you want?
Every minute counts
Searching under every stone
Improve odds of winning
Forecasting?
6. © 2017 ValueSelling Associates, Inc. All rights reserved.
Surprises are
for birthday parties…
7. © 2017 ValueSelling Associates, Inc. All rights reserved.
No
Decisions Wins
Losses
Of companies can get
within +/- 5% accuracy
for 90-day forecast*
10%
Of companies report
average win rate of
less than 25%*
50%
*Source: SiriusDecisions
8. © 2017 ValueSelling Associates, Inc. All rights reserved.
Percentofrespondents
Insufficient,
inaccurate data
on pipeline
10%
20%
30%
40%
50%
Over-
confidence
Lack of rep
accountability
Lack of
manager
enforcement
Don’t
understand
probability of
closing
No formal
process to
identify sales
stages
42%
40%
35%
34%
23% 22%
*Source: Aberdeen Group, July 2015
Why can’t we forecast accurately?
9. Who’s
Missing
Their
Forecasts?
© 2017 ValueSelling Associates, Inc. All rights reserved.
Saks owner Hudson's Bay to
cut 2,000 jobs as loss widens
more than expected
Lowe's stock falls on earnings,
sales miss
Dick's Sporting Goods' stock
tumbles on weak sales, tracking
for biggest 1-day drop in 3 years
Macy's shares plunge after huge
earnings, sales miss; shows
recovery a long way off
JC Penney's stock hits all-time
low on widening net loss,
weaker sales traffic
Time Inc. slashes dividend,
posts another drop in sales
Disney dips after
revenue miss
Apple misses on iPhone
shipments, stock drops
10. © 2017 ValueSelling Associates, Inc. All rights reserved.
Leveraging the
ValueSelling
Framework
12. © 2017 ValueSelling Associates, Inc. All rights reserved.
Leveraging the ValueSelling Framework for forecasting
Problem
Challenges that prevent them from being able to
satisfactorily deal with or resolve business issues
Business Issue
What customer needs to accomplish to
maintain or grow their business (profits or
mission)
Business Objective
We don’t create value, we uncover it and connect to it
What customers need to address and
resolve to achieve business objectives
(measurable)
14. © 2017 ValueSelling Associates, Inc. All rights reserved.
Uncovering a Business Issue
When a prospect states
they need a solution… …Ask WHY, WHY, and
WHY?
Be Curious!
15. © 2017 ValueSelling Associates, Inc. All rights reserved.© 2017 ValueSelling Associates, Inc. All rights reserved.
Characteristics of a Business Issue
Measurable
Time-bound
The individual’s # 1 priority
16. Polling Question:
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Choose which of the following are business issues:
Outdated user experience
High cost of internal IT resources
Poor customer engagement
Lack of cloud storage
Driving 150% revenue growth by EOY
17. Polling Question:
© 2017 ValueSelling Associates, Inc. All rights reserved.
Choose which of the following are business issues:
Outdated user experience
High cost of internal IT resources
Poor customer engagement
Lack of cloud storage
Driving 150% revenue growth by EOY
18. The Value Buying Process™
PLAN
POWERVALUE
SOLUTIONPROBLEM
BUSINESS ISSUE
Differentiated
VisionMatch™
CONFIRM
19. © 2017 ValueSelling Associates, Inc. All rights reserved.
1. What are the top line critical BUSINESS ISSUES driving urgency?
2. What are our Differentiated challenges/obstacles (PROBLEMS)?
3. How do we uniquely solve them (SOLUTIONS)?
4. What are the measurable outcomes to justify the purchase/project (VALUE)?
5. Who’s involved (POWER) and have we engaged?
6. What are the mutual steps to achieve the outcomes (PLAN)?
Opportunity Checklist
20. How to identify risk factors
to drive better forecasting
© 2017 ValueSelling Associates, Inc. All rights reserved.© 2017 ValueSelling Associates, Inc. All rights reserved.
Opportunity Deal
Assessment
21. © 2017 ValueSelling Associates, Inc. All rights reserved.
Qualified Prospect = VisionMatchD x Value x Power x Plan®
Short Assessment Tool
Inspection Questions Sanity Check 100% Needs
Work
What is the Business Issue? Is it a critical Business Issue vs. a
problem or technical issue?
What are the unique Problems we solve? Is there a differentiated VisionMatch
with Power? (VMd)
What is the value? Is it quantifiable? (BV)
Is personal value identified? (PV)
What level of access do we have? Does the $ sign off authority match?
(Po)
Is the plan in writing? Is the plan mutual and agreed upon?
(PI)
22. © 2017 ValueSelling Associates, Inc. All rights reserved.
Forecast Report and Coaching
Opportunity
Name
Close Date Size Business Issue Differentiation
(VMd)
Value
(PV/BV)
Power Plan
23. Disappointment Drill
© 2017 ValueSelling Associates, Inc. All rights reserved.
Step 1: Our Sponsor on the deal we’ve been
anticipating just called to inform us that
they’ve chosen our competitor. It’s over.
Step 2: Think of all the things that you might
have done, if you had the chance.
Step 3: Now do that.
24. © 2017 ValueSelling Associates, Inc. All rights reserved.
John Naisbitt
The most reliable
way to forecast
the future is to
try to understand
the present.
25. In Summary
© 2017 ValueSelling Associates, Inc. All rights reserved.
Lessons learned
• Forecasting is key to sales success, both as an individual contributor and as a sales leader.
• When forecasting, have a checklist so that you can review any missing item and drive a more
consistent result.
• When reviewing your deals, everyone knows you did your best and worked hard. What they want
to know is what are the possible risk factors that may cause it not to come in. Allow yourself to
get help and see new perspectives.
• It is about continual improvement. (Getting better every day!)
27. © 2017 ValueSelling Associates, Inc. All rights reserved.
At the end of today’s webinar
Go to valueselling.com > resources > webinars
to download today’s slides
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6 Ways to Increase Prospecting Effectiveness
August 17 | 10:00 AM Pacific
Save the date!
30. © 2017 ValueSelling Associates, Inc. All rights reserved.
For further assistance:
Carlos Nouche
Vice President
Carlos@visualize.com
1.888.88.GOALS (46257)
678.464.1238 mobile