Sales Webinar | Making Deal Coaching Work in Opportunity Management
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Coaching increases sales productivity by 88% percent, but many companies fail to embed coaching in their sales organizations.Kevin McDonald of The TAS Group outlines the 10 elements of Great Opportunity Management and shows you how to easily make deal coaching part of the sales team's DNA.
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Sales Webinar | Making Deal Coaching Work in Opportunity Management
- 1. Making Deal Coaching Work in Opportunity Management Kevin McDonald Senior Partner
- 2. Before We Begin 11 You will receive a link to a recording of today’s webinar. Watch for it in email. 22 The video will also be available at: thetasgroup.com in the Resources section. 33 Enter your questions in the Questions box or tweet to @thetasgroup. 44 Join the conversation on Twitter: #dealcoaching
- 3. Kevin McDonald Senior Partner #dealcoaching Engage on Twitter
- 4. Agenda Coaching Context Ten Elements of Opportunity Management Demonstration Q&A 11 22 33 44
- 5. The Best Have a Coach(es)
- 6. LESS IMPORTANT MOST SUPPORTED LESS IMPORTANT LEAST SUPPORTED MOST IMPORTANT MOST SUPPORTED MOST IMPORTANT LEAST SUPPORTED Product Innovation Importance to Sales Force Success ‡ SupportFromUpper Management† Lower Prices Sales Management Training Improved Sales Admin Support Sales Comp Plan Change Proper Sales Territory Coverage Enabling Technology Best Practice Sharing Sales Coaching Pre-Sales Support Channel Developmen t Team Selling Salesperson Training Cross Selling New Account Selling Improved Lead Generation † Seven-point rating scale; 1 is “not important at all,” 7 is “very important.” Mean value is 4.83. ‡ Seven-point rating scale; 1 is “not supported at all,” 7 is “heavily supported.” Mean value is 4.02. 3σ2 3σ2 -3σ2 -3σ2 Why Does Coaching Not Happen?
- 7. Why Do Managers Resist Coaching? 1. Managers don’t see the value 2. Not enough time to coach 3. Managers don’t know how to coach 4. Sales reps don’t ask for coaching 5. Other
- 8. Sales Automation is Driving Efficiency Spreadsheets Contact Managers salesforce.com Sales Cloud Intelligent Sales Coaching
- 9. Methodology Alone Is Not Always Effective Relationship Selling Consultative Selling Structured Sales Methodology Connected Salesperson
- 10. The Growing Gap Between Buyers & Sellers TIME Buyer Sophistication Effectiveness Of Sales Rep SOPHISTICATION
- 11. Continuous Coaching TIME IMPROVEMENT NEW SKILL loss within one month without reinforcement 87%
- 12. 88% +27% 56% Amount that sales productivity is improved by sales coaching - Sales Executive Council Increase ROI on sales investment from sales coaching - Gallup Customer loyalty improvement where sales coaching is involved - Gallup Benefits of Sales Coaching
- 13. Types of Sales Coaching • Self • One-to-One • Peer
- 14. Coaching Impacts Sales Velocity SALES VELOCITY V DEALS VALUE WIN RATE SALES CYCLE
- 15. What to Coach Is there an opportunity? Can we compete? Can we win? Is it worth winning?
- 16. 10 Elements of Great Opportunity Management Embedded Coaching Motivational Social and Collaborative Integrated With CRM Mobile & Cloud Smart Qualification Map People and Influence Discover Insights Competitive Strategy Action Oriented
- 17. The Connected Coach • Just in Time • More Frequent, Yet Less Time • Uses Facts • Mobile
- 18. Summarize agreed vulnerabilities Answer Questions Respond with Vulnerabilities Agree PRIME Actions and Update Plan Ask for Vulnerabilities Ask Clarifying Questions 2a Present NEW Vulnerabilities 2c 4 Ask for Recommendations Present NEW Recommendations Respond with Recommendations 3c 3a 1a 1b 2b 2d 3b Peer Coaching (20-25 minutes)
- 19. Demonstration
- 20. Proven Results from 100+ Customers
- 21. Win more deals and grow deal sizes. Uncover compelling events, navigate the political power structure and focus on qualified deals with intelligent deal coaching.
- 22. Q A Questions & Answers
- 23. Next Steps 11 Share this webinar with your team 22 33 Join us for the Inside Sales Virtual Summit on Thursday, June 20. Visit our events page to register. Contact The TAS Group for more info and a deeper dive
- 24. July 16: How do you know if your Account Plan is working? Join Us at Upcoming Webinars
- 25. www.thetasgroup.com US 866.570.3836 UK +44(0)1189 880 149 International +353(0) 1 6788 900 info@thetasgroup.com Twitter: @thetasgroup
- 26. Thank You
- 27. Making Deal Coaching Work in Opportunity Management Kevin McDonald Senior Partner
Hinweis der Redaktion
- Welcome
- As we can see by this slide from The Sales Leadership Forum, Sales Coaching is seen has highly important, but least supported activity…this is strange.
- So the question to ask is: How do you enable Managers to coach when they may not know the how or the what of coaching in today ’s time starved 100mph world? How do you put that enablement at both their finger tips AND the finger tips of the sales professionals on their teams? These questions have been keeping us late and getting us up early here at The TAS Group for the last 8 years. We have be on a quest to put these enabling tools in the hands of sales professionals where they work everyday = salesforce.com
- Over the years, our sales people have seen so much in terms of tools, methodologies and sales automation. Excel was (and for some) still is their primary sales automation tool. For many sales managers, Excel is still their default forecasting tool. Then we experienced applications like ACT, Goldmine and other desktop based contact managers. Salesforce.com led the way to provide organizations with a tool to bring together disparate sales teams with their social, mobile and cloud service. What ’s next for sales teams? Sales people expect their sales automation tools to be everything I’ve described but also smart with real time coaching. The evolution of sales has shifted from who you know to find the pain to intelligent insight. We believe intelligent deal coaching is the next wave of sales automation.
- If Sales Automation is about making sales people more efficient, sales methodology is about making sales people more effective. This is a key distinction. But some Sales Methodologies are not delivered in context with their deals, their accounts and their team selling activity. We ’ve seen hours, days and some times week of training, where people are just focused on learning the material, and not necessarily the application and impact…or how they are going to use this everyday. It is difficult to remember. If you think about how we all operate now in our always connected world, we have seen a shift to an “always on world” and amazing amount of information that we encounter everyday…and we want it at our finger tips. And buyers are getting more sophisticated, therefore sellers need to become more sophisticated too.
- Buyers are getting smarter, often sellers aren ’t. As buyers get more sophisticated, sellers need to become more sophisticated too. The gap is widening. As “sales professionals” we need to take this challenge very seriously.
- Over the years, there reaches a point where the more you invest in training, tools and community the improvement in sales effectiveness does not necessarily correlate. A vast majority Companies Are Not Realizing Sales Training ROI on the $10B annual spend Companies spend between $2,700 to $10,000 / sales person / year Sales people appreciate training investment but a lot of the dollars being spent today are possibly wasted. There must be a better way.
- There is still a problem with efficiency and effectiveness. How can we help sales people be more productive? According to the Sales Executive Council, when coaching is added, sales productivity is improved by 88%. As a result of coaching, Return on Investment in sales goes up 27%, according to Gallup. And, where sales coaching is involved, customer loyalty improves by 56%. Why do managers resist coaching? <Good discussion question.> Managers don ’t see the value Not enough time to coach Managers don ’t know how to coach Sales reps don ’t ask for coaching Other
- You can improve your sales performance by focusing on 4 levers that impact sales velocity. # Deals – how many deals are you working on and more importantly – are they the right deals? $ Value – has the value of those deals been maximized to best meet the needs of your customers? % Close – Are you winning the right amount of deals? Length of Sales Cycle – How long is it taking your team to win these deals? These become your core KPIs. The are the only factors that impact revenue – your sales velocity (measured by dollars/day) And the magic is when your sales KPIs come to life and you start impacting the sales velocity formula.
- Customers care about the integrity and strength of the underlying methodology. The DNA of Dealmaker is our proven TAS Sales Methodology. It ’s the heart and soul of our success. TAS helps you prioritize and focus your efforts on areas of mutual value to your customer and your company. By applying TAS methodologies you identify potential revenue growth, expand your customer relationships and build a foundation for customer collaboration. TAS helps sales professionals focus on the right issues with the right people at the right time. What we deliver is not only built on years of best practice research, but it ’s also structured and repeatable. It all starts with deal qualification, so you don ’t waste valuable time on deals you shouldn’t be in and fully commit to the deals you should be winning. This often begins with the 4 questions you see here. Is there an opportunity? Can we compete? Can we win? Is it worth winning?
- In a world where there are so many factors influencing so many elements of our day-to-day existence as sellers, we have boiled it down to 10 elements that make Great Opportunity Management: We know that Smart Qualification of the deals we are choosing to allocate our most precious resources on is critical – lets enable our organizations to win 4 of 7 deals vs 3 of 10 deals – Smart Qualification is critical. We know that truly understanding the landscape of the people and the influence in a buying and selling scenario is paramount to your success We know that discovering the business drivers, the challenges, and the evidence of what can and should influence the customer ’s buying decision and then collaborating with your customer on this can truly differentiate your Unique Business Value Selecting and pursuing the proper competitive strategy is a key element to the success or failure of your selling scenario All of this needs to be tied to actions so you and your team stay accountable to each other and your customer - building that element of trust As we saw just a few slides ago, there are huge benefits to sales coaching. Why not have it embedded into the DNA of your sales methodology - so it happens every day – whether you remember to do it or not? Motivation – what motivates sales people? Studies show that ahead of compensation, knowing that you have made meaningful progress toward winning everyday is the key motivator to most sales people. Social and collaborative – As companies rely on social collaboration tools like Chatter, sales people are leading the way to improve collaboration within their sales teams. Great Opty Mgmnt that leverages a social and collaborative approach helps by letting everyone ‘follow’ the opportunity, contribute to the conversation, and collaborate on the deal...this is the today and the future of selling. We are very proud of our relationship with Salesforce.com. Integrating your opportunity management with your CRM should be a “no brainer.” But, not all integrations are created equally. If you are on Salesforce, then your opportunity management will benefit hugely if it is ‘native’ on the Salesforce Platform. Unlike other solutions that are linked to Salesforce, or just lightly integrated, this means that your data resides in the Salesforce Sales Cloud, with the same security as Saleforce, the same performance as Salesforce, and all of the data captured is inherently accessible to Salesforce reports, dashboards, and other applications. It is where you work everyday. . You do not have to worry about the security of a third party Cloud, the data transfer issues that occur with non-native solutions, or the reliability of a third party hosting infrastructure. 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. 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 opportunity management 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 here as well.
- THIS IS SALES PROCESS – PLEASE REMOVE THIS SLIDE IF YOU DELIVER WITH NO SALES PROCESS!!
- Go through Analytics Demo Come into Map, Zoom on scroll bar and point out intuitive view of Friends and Enemy's thru Color right away and you can also see where you have work to do with the Grays. Call up the Legend and leave it up in a blank space. Click on any Contact and Left Panel will open up, READ ALOUD the coaching advice for that contact. The entire thing, people listen better than they can read and you want to show the comprehensive nature of the advice – Tie it back to 4 of the 8 Elements – Visual, Smart, Insights and Actionable Mention we used to teach the codes in training and hoped people remembered how the use them, now we don ’t have to do that, Dealmaker intreprets the codes for us and brings the right information to our attention automatically. Work the Left Panel: Contact Level first – Profile, review to see how to develop the right benefit statements – using Visionary gives good example of this Go to Social – have twitter and LinkedIn there and click to show and why you need this information: develop relationships, have meaningful conversations, see who you have in common from a connection standpoint so you can get some G2 on the person before your meeting, etc Go to Map Level Advise – not only contact level insights but holistic Map advce with actions Point out the dashboard of people with the Urgent, Ideal, etc. Tie to the Motivational aspect of the 8 elements nad reinforce motivaliton with color, turning gray to green, expanding your coverage with more contacts, all motivational for sales reps Set up Deal Review situation again and go to Filters on the Left to show how you strategize with your team, filter your friends only. Then your Inner Circle and Politcal Structure combined to disucss coverage and actions with the team in developing your winning plan. Huge competitive advantage for TTG in all that we just did. NO ONE else on the planet provides coaching, advise and insights that are actionable. Then close down the Left. Set up how to manage or create the map vs use the map which we just did. Add a contact by hitting search and list comes up. Select one with reports to and some for the bench explain the bench Move a contact to report to someone else – mention it changes the reports to in SFDC big benefit to data clean up of their contacts in a Visual Manner Drag someone from the bench to the map Add TBD – explain missing manager and it is TBD, then drag a bench person to the TBD, Benefit, Visually see I need to find out this persons manager and their role and how they fit intot the evaluation. Actionable, Intuitive, Visual, etc. Add a contact on the fly, mention it updates the SFDC contact now so no duplicate data entry Turn on Influence Lines, draw influence lines. Really cool. Summarie the 8 elements of what they just saw as a conclusion, emphasis the UBV.
- We have many customers, across a number of industries, that are using Dealmaker to give them a competitive advantage and to win more deals.
- Ask for and address any final questions. TTG.SAM.VLearn.130110
- Welcome