Anatomy world class inside sales organization- lenati
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Leveraging Lenati’s expertise working with multiple clients designing and executing inside sales GTM and engagement models, we’ve identified critical components of a “best in class” inside sales organization and use this IP to help sales leaders benchmark their own sales org to identify strengths and weaknesses. The “anatomy lesson” identifies key building blocks required for designing a world class inside sales plan including: Segmentation, Customer Journey, Functional Alignment, Metrics Management & Infrastructure.
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Anatomy world class inside sales organization- lenati
- 1. Building Stronger Customer Connection Anatomy of World Class Inside Sales Dailah Lester Manager, Sales Strategy Consulting dlester@lenati.com Mark Ippolito Sr. Manager, Sales Practice Leader mippolito@lenati.com
- 2. How do you define World class inside sales performance? >87% of sales representatives are achieving quota >17% year over year increase in sales revenue >7% year over year improvement in lead conversion rate Win/loss performance improvement of >6% year over year 2 Source: Aberdeen Group
- 3. What are key characteristics of a World Class inside sales organization? Strategic Alignment between Marketing & Sales collaboration & agreement on demand generation programs, definitions to increase quality & conversion rates Inside Sales Enablement team provided with resources & tools for customer/prospect business intelligence data to improve contact results Email & Content Engine – tight integration with customer relationship management system Create efficiency and maximize pipeline velocity 3 Source: Aberdeen Group
- 4. 2013 Inside Sales Top 5 Challenges 4
- 5. To achieve World Class performance in 2013, Do you need to hire more people, implement training and process or provide your reps with technology and tools to be more effective?
- 6. Building Stronger Customer Connection Sales Optimization Anatomy for World Class Inside Sales
- 7. Anatomy for World Class 5 key building blocks for designing an inside sales strategy and questions you should answer to be successful: What People, Processes, and Tools do you need in place to successfully enable your sellers? Who are your customers and where are your opportunities? How do your customer’s buy and what do they get from a sales representative ? How do sales activities align to the customer journey and what roles need to be created? What are the key metrics to benchmark and track to enable desired behavior? SEGMENTATION CUSTOMER JOURNEY FUNCTIONAL ALIGNMENT METRICS MANAGEMENT INFRASTRUCTURE
- 8. Customer Segmentation Inside Sales Strategy begins and ends with a deep understanding of who your customers are. INVESTMENT ALLOCATION SALES RESOURCING & QUOTA ALIGNMENT Emerging Large Mature Med. Mature All Others Markets Tier 2: Growth Tier 1: Strategic Tier 3: Scale Size the opportunity Align offering with customer needs Choose how to reach those customers: Evaluate the CustomerEvaluate the Market= + Target Bundle Solution Product Vertical or Industry Alignment 20% 30% 50% A B C PRODUCT A, B & C Tier 1 Customer PRODUCT A & B Tier 2 Customer PRODUCT A Tier 3 Customer Product Offering: Self Serve Retail Inside Partner Field Segmentation Go to Market Channel Strategy
- 9. Customer Journey Spectrum Customer Journey 9 Solution SellingTransaction al Selling Tele-Sales Model High-Volume, Impression Sales Virtual Sales Model High Touch, Remote Sales Call center excellence Call Scripts Outbound/Inbound customer management Activity based metric management Standard Product Many Substitutes Simple/Easily Understood Custom Solutions Low Substitutes Complex Value Develop a deep understanding of how your customers buy and the sales model needed to address the customer buying journey. Relationship Management Consultative Selling World Class virtual sales tools Sales Specialization Value based metric management
- 10. Function & Role Alignment Defining a clear and targeted focus for inside sales roles are critical for success: Bus Dev Sales Services • Lead Generation • Prospecting • Qualification • Registration • Small Business • Mid-Market • Enterprise • Product • Account Management • Consultation Services • Implementation • Support Align role resources to meet the different functional needs of the business: Team Sales Field Inside Specialist Sales Segment Sales Product Function Tech
- 11. Metrics Management DATA CULTURE KPI DEFINITION PERFORMANCE BENCHMARKING TRACKING & REPORTING Identify key activities drive successful end results and inform how behaviors can be replicated. Key Performance Indicators are universally established, measured and tracked. These metrics are both leading and lagging indicators of performance. Utilize a continuous rhythm of the business to track and report upon KPI definitions to enable data driven decision making and optimization. Build a culture of data with insights, actions, and decision-making all coming back to measurable outcomes.
- 12. Infrastructure 12 High Performing Sales Professionals Consistent Tools Company-Wide Scalable & Repeatable Proce PEOPLE PROCESS TOOLS Define the enabling set of people, process, and tools needed to fulfill on the strategy
- 13. How do YOU achieve World Class status? Segment for Sales Define your customers and prioritize opportunities Define Customer Journey Real-time, market-facing applications Align Functions & Roles Clear focus for each role and function Metrics Management Culture of data driven insights and decision making Infrastructure Design People, Process, and Tools
- 14. Thank You Learn More: http://www.lenati.com/blog Mark Ippolito Dailah Lester mippolito@lenati.com dlester@lenati.com
Hinweis der Redaktion
- 488 companies – 2009 – 78% from Americas17% large, 31% mid size, 52% small50% of companies were high tech - Fair Assessment?Would you agree with these definitions?
- Tight integration of Marketing programs working in conjunction with Telesales program is key to sustained successImplications: Collaboration between Telesales leadership and Marketing program management teams deliver higher quality leads,lower cost per acquisition and improved ROI. Collaboration should be extended to include search engine and email marketing as wellwebinars, trade shows and events.Email is the killer telesales app – primary tool for qualifying prospects. 100% use email to contact/qualify prospects as compared to 92% via voice contactImplications: Effective email should include well-crafted, auto responses and templates for highly targeted and personalized mailRaise of hands on how many of you have a collaborative relationship with your marketing department? Was it always that way? How as that helped your sales team?How many of you provide your sales reps with resources to gather intelligence on prospects? What resources do you provide? How are they using the resources? Benefits?How many of you have an email integration tool such as constant contact, eloqua or marketo?
- How many feel these are accurate challenges? Any other challenges you feel are more precedent? Which one of the Top 5 will have the most impact on your ability to achieve your revenue #’s?
- How do you determine where you are going to invest time & resources? Where do you begin? How do you fix it?
- Inside sales models vary across industries, company size and maturity but there are 5 key building blocks for designing an inside sales strategy and questions you must answer to be successful.Evaluate whether you have successfully answered all of these building blocks.
- What are the ramifications of not clearly understanding your customer segmentation?
- How many companies design their sales model, without evaluating the customer buying process?
- 57% of organizations report not having metrics in place for measuring effectiveness of telesales38% of the survey respondents report being able to specifically measure overall effectiveness of their telesales program.Effective measurement for overall telesales performance remains the exception rather than the rule – awarenessremains high, but too few are reaching goal. Implications: Sales leaders are being held accountable fortop line performance, but may not be aware of the underlyingfactors hampering results which could be corrected through earlydetection.
- With a clear definition of the customer, the buyer, the roles, and the metrics, you can then define the enabling set of people processes and tools needed to fulfill the strategy. All too often sales orgs start with the tool or process to “fix” the problem. Too often those tools fail to gain adoption or improve performance as the building blocks for effective design have been overlooked or underserved.