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Build A Sales Machine: Avoid The 7 Fatal Sales Mistakes & Double New Revenue

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Build A Sales Machine: Avoid The 7 Fatal Sales Mistakes & Double New Revenue

  1. 1. From A Salesforce.com Executive: How To Avoid The 7 Fatal Sales Mistakes CEOs And VP Sales Make & Double New Revenue
  2. 2. Aaron Ross - My Story <ul><li>Stanford Undergrad + GSB dropout </li></ul><ul><li>CEO of LeaseExchange: -$5 Million </li></ul><ul><li>Ironman Triathlon, Boulder Outdoor Survival School </li></ul><ul><li>Sr. Director at Salesforce.com: $100 Million </li></ul><ul><li>‘ Entrepreneur-in-Residence’ at Alloy Ventures ($1B) </li></ul><ul><li>On 10 advisory boards + investor in six companies </li></ul><ul><li>Now: PebbleStorm , with three coaching programs: </li></ul><ul><ul><li>Sales Machine: “Create Predictable Revenue” </li></ul></ul><ul><ul><li>CEOFlow: “Turn Your Employees Into Mini-CEOs” </li></ul></ul><ul><ul><li>U nique Genius Coaching for individuals </li></ul></ul>
  3. 3. Created A $100M Inside Sales Team At Salesforce.com A“Cold Calling 2.0” process and team that helped increase recurring revenue for Salesforce.com by $100 million & grew F5000 bookings by more than 60%
  4. 4. And Years Of Consulting/Advising
  5. 5. Why Am I Doing This? <ul><li>After so many years of coaching/advising CEOs and VP Sales… </li></ul><ul><li>I see the same mistakes made over and over again </li></ul><ul><li>I made them myself as a CEO </li></ul><ul><li>They are simple to avoid! </li></ul>
  6. 6. Coming: Summer 2010
  7. 7. A Wave Of Change
  8. 8. What Works In Sales Has Changed <ul><li>Field Sales = 90% of prospecting </li></ul><ul><li>ABC / Always Be Closing </li></ul><ul><li>Dials per day, appointments </li></ul><ul><li>Cold calls </li></ul><ul><li>Cheesy sales tricks work </li></ul><ul><li>“ I hate this job” </li></ul><ul><li>Long letters & emails </li></ul><ul><li>CRM hurts productivity </li></ul>1.0 2.0 Sales Dev = 90% of prospecting Is there a mutual fit? Qualified opportunities / month Research, referral calls Authenticity works “ I learned a lifetime skill” Short and sweet text emails CRM multiplies productivity
  9. 9. The 7 Fatal Growth-Killing Sales Mistakes CEOs and VP Sales Make
  10. 10. 1. Not Taking Responsibility For Understanding Sales & Leadgen <ul><li>Everything begins with the CEO </li></ul><ul><li>The CEO must understand the fundamentals of sales and lead generation </li></ul><ul><li>Avoid arbitrary goals, assumptions and plans </li></ul><ul><li>Solution: the CEO must take full responsibility for educating & developing themselves </li></ul>
  11. 11. 2. Thinking Salespeople Should Prospect (Make Salespeople Jacks-Of-All Trades) <ul><li>Salespeople should fulfill deals </li></ul><ul><li>Only prospect 20% of the time, to Top 10 Strategic Accounts or to current customers </li></ul><ul><li>“ Lumping” is when salespeople do it all: qualify, cold call, close and manage accounts </li></ul><ul><li>Solution: specialize! You only need two salespeople to begin to specialize </li></ul>
  12. 12. Separate the Four Core Functions “ Outbound” Customer Success & Renewal Sales Frontline Sales Organic & Marketing Leads “ Inbound” Qualified Opportunities New Customers
  13. 13. 3. Assuming Channels Will Do Your Selling For You <ul><li>They won’t </li></ul><ul><li>You have to control your own destiny </li></ul><ul><li>The channels will come AFTER you are successful </li></ul><ul><li>Solution: you must control your own destiny first. Focus on direct sales success before counting channel chickens. </li></ul>
  14. 14. 4. “Sales 1.0” Talent Approach (Hiring, Training, Incenting) <ul><li>Hiring wrong, especially in sales leadership </li></ul><ul><li>Insufficient training (esp. new hires) </li></ul><ul><li>Misguided expectations, esp. on ramp times </li></ul><ul><li>Promoting the wrong people </li></ul><ul><li>Using comp as the main motivator </li></ul><ul><li>Solution: get coaching on how to hire, train & incent, or find local companies to model. </li></ul>
  15. 15. Chinese Proverb <ul><li>If you want one year of prosperity, grow grain </li></ul><ul><li>If you want ten years of prosperity, grow trees </li></ul><ul><li>If you want one hundred years of prosperity, grow people </li></ul>
  16. 16. Train New Employees In Support/Services Intern With Services or Lead Qualification (2-4 Weeks) Call Stale Leads (1 Week) Call Fresh Leads / Stale Opptys (1-2 Weeks) Degree of Risk Time Call Cold Executives Example: training salespeople in non-sales roles
  17. 17. 5. Being “Product-Out” Rather Than “Customer-In” <ul><li>Unclear Ideal Customer Profile </li></ul><ul><li>No one cares what you do, they only care what you do for them </li></ul><ul><li>Little executive time spent with customers (should be 25% of your time) </li></ul><ul><li>Solution: talk to customers to get clear on what you do for them, rather than how you do it. </li></ul>
  18. 18. Nail Your Ideal Customer Profile <ul><li>Industries? </li></ul><ul><li>Geographies? </li></ul><ul><li>Revenues/employees? </li></ul><ul><li>Culture clues? </li></ul><ul><li>Key metrics/datapoints? </li></ul><ul><li>Dealbreakers? </li></ul><ul><li>Dealmakers? </li></ul><ul><li>Ideal contact at targets? </li></ul>
  19. 19. 6. Sloppy Tracking And Measurement <ul><li>You have no predictability without a funnel </li></ul><ul><li>Are you measuring and tracking what you do and produce, or putting it off? </li></ul><ul><li>“ We’ll do that next [week, quarter, year…]” </li></ul><ul><li>Unless you understand what works and doesn’t work, you are guessing at how to improve </li></ul><ul><li>Solution: Start tracking 2-3 key activities / results now. Add something new each month. </li></ul>
  20. 20. 7. Command-And-Control (“Push”) Management <ul><li>Employees have few opportunities to contribute beyond their roles </li></ul><ul><li>More motivation than inspiration </li></ul><ul><li>Using long hours/hard work instead of creative problem solving </li></ul><ul><li>Exhausting employees (and management) </li></ul><ul><li>Solution: read “The Seven Day Weekend” by Ricardo Semler. Subscribe to CEOFlow.com. </li></ul>
  21. 21. CEOFlow: “Pull Management”
  22. 22. Bonus Mistake: Underinvesting in Customer Support <ul><li>Too focused on new customer acquisition? </li></ul><ul><li>Ignore account management and support at your peril </li></ul><ul><li>We have a world of “Frictionless Karma” – bad customer experiences get around instantly </li></ul><ul><li>Solution: love & handhold your first 50 customers </li></ul>
  23. 23. Trust => Extraordinary Growth
  24. 24. The CEO Is The Pebble In The Pond
  25. 25. CEO Sweet Spot
  26. 26. Understanding Leads: Seeds, Nets & Spears
  27. 27. Distinguishing types of leads
  28. 28. Distinguishing types of leads <ul><li>Lower volume </li></ul><ul><li>Highest quality </li></ul><ul><li>Harder to increase </li></ul><ul><li>Higher volume </li></ul><ul><li>Low value </li></ul><ul><li>Easier to increase </li></ul><ul><li>Lower volume </li></ul><ul><li>High quality </li></ul><ul><li>Medium work to increase </li></ul><ul><li>Grew Salesforce.com </li></ul><ul><li>revenue more than 40%! </li></ul>
  29. 29. ___ Website Visitors ___ Leads (Registrations) ___ Qualified Leads ___ Qualified Opportunities $___ Pipeline $___ Bookings __% Conversion __% Accepted __% Converted $___ Avg /Oppty ___% Close SALES DEVELOPMENT SALES MARKETING Sales Cycle Length ____ __ Lead Qualification Reps per __ Leads per Month __ Account Execs per $__ Pipeline per Month Cost per Lead $___ Nets Funnel
  30. 30. Example Spear: ColdCalling 2.0 Incremental
  31. 31.
  32. 32. Spears Funnel Add Target Accounts Add Contacts __ Call Connects __ New Opportunities __ Closed Deals Prepare Prospect Begin Sales Cycle Work Responses (9% Response Rate) __ Demos/Appointments Define Ideal Target Profile Send __ Cold Emails / Make __ Mapping Calls
  33. 33. Prospecting Emails: Less Is More <ul><li>State simply why you are reaching out – and be honest! (In every way) </li></ul><ul><li>Offer credibility (ex: customer names) </li></ul><ul><li>Make the email easy to read and respond to on a blackberry/mobile </li></ul><ul><ul><li>No more than one question per email </li></ul></ul><ul><ul><li>Simple questions: don’t make them think </li></ul></ul>
  34. 34. Sell To Success
  35. 35. How most companies sell
  36. 36. “ Sell To Success”
  37. 37. Build A Sales Machine Coaching
  38. 38. The Transformation <ul><li>An easy-to-follow sales development process that leads to predictable sales revenue and an ever-expanding pipeline with 20% close rates </li></ul><ul><li>Go from erratic and unpredictable leads and sales results to a reliable sales machine that generates pipeline even when no new marketing leads are coming in. </li></ul><ul><li>A clear step-by-step system to attract, develop, and retain the top sales people that will bring in the highest sales with the least amount of turnover, training and ramp time. </li></ul><ul><li>Free up your time and energy by making sales a self-managing system that runs itself. </li></ul>
  39. 39. Testimonial: WPromote <ul><li>Michael Stone, VP Sales, WPromote (#1 ranked Search Marketing Firm on the Inc 500): </li></ul><ul><li>“ Working with Aaron Ross has been nothing short of amazing… </li></ul><ul><li>His methods produced a profitable and scalable new stream of predictable revenue. </li></ul><ul><li>We saw at least 40+% new business growth . </li></ul><ul><li>Deal size is still growing. </li></ul><ul><li>We’re getting in the door with brands like Overstock, AT&T, IBM, etc. – people that would have never come to us. </li></ul><ul><li>The best part is, we had a blast while doing it!” </li></ul>
  40. 40. Special 50% Offer Until 6pm Friday: Predictable Revenue Strategy & Action Plan Session <ul><li>Format: 90-Minute Private Consultation by phone </li></ul><ul><li>You Walk Away With: Clarity on your bottlenecks and at least three concrete, results-changing, actionable solutions to create more predictable revenue and grow it by 40%+ </li></ul><ul><li>100% Money-Back Guarantee , if dissatisfied for any reason </li></ul><ul><li>Only $450 (value $900) for webinar registrants who sign up by 6pm Friday </li></ul><ul><li>To register: </li></ul><ul><li>www.CEOFlow.com/coaching </li></ul>

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