Measuring sales is easy...

Felix Dumitrica, Head of Sales Enablement & Productivity in Europe at FreshWorks, gave this presentation in October 2020 at the Sales Enablement Festival.

Transcript

1. Measuring sales is easy.
2. What about measuring selling? Felix Dumitrica Head of Sales Enablement and Productivity for Europe
3. “I’m not gonna coach you to who you are. I’m gonna coach you to who you should be someday.” Doc Rivers Los Angeles Clippers’ former coach rocketswire.usatoday.com We are not different from coaches..
4. Sales teams Sales leaders Coach sales team to win business Be a strategic partner for leadership Product/Marketing Support product, segment marketing efforts delivery to Sales One team, many roles
5. Rising expectations…Sales enablement in 2021 People recruitment Product & Market training Methodology & Skills training Cohesive experience Cohesive experience Content & Messaging Product & Market Training People recruitment Methodology & Skills Training People recruitment 1 Content & Messaging 2 Product & Market Training 3 Methodology & Skills Training 4 1
6. • Balance strategic and tactical projects at the same time • Attribute enablement efforts in supporting sales strategy and growth • Clarity in enablement areas and audience Top three hurdles for sales enablement leaders
7. So, what should guide sales enablement leaders? Buyer expectations should be the North Star
8. Source: Forrester Percent of executive buyers who said sellers are usually prepared in the following ways Knowledgeable about their company and products Knowledgeable about my specific business Can relate to my role and responsibilities in the organization Understands my issues and where they can help Has relevant examples or case studies to share with me 62% 24% 23% 22% 21% Prepare your salespeople to have relevant conversations with your buyers But, at first, a reality check. How sellers are perceived by buyers ?
9. Deal Size Cycle Time Close Rate Some metrics that can determine whether we are meeting our buyer’s expectations
10. Enable salespeople with better content and training. Focus on preparing, on the “why” & “how” Coach salespeople on actions and right behaviour. Focus on execution, on the “what” Sales enablement Sales leaders Metrics & KPIs Same metrics, different perspectives
11. Current approach Qualitative Individual-focused High-effort Typical actions taken by sales enablement 2021 approach Data-led At scale low-effort High Attribution “What got us here won’t get us there” -Marshall Goldsmith
12. • Poor conversations with wrong stakeholders • Buyer doesn’t see how product meets their needs • Inability to justify the economic investment • Identify deals with highest probability of conversion for your sales rep • Guide sellers with a sequence of strategic moves that will lead to deals won • Sales engagement triggers to ensure right message is sent to the right buyer at the right time More or Better Close Rate • Content • Training • Coaching Qualitative, Individual-focused High-effort, Poor Attribution Typical actions by sales enablement Data-led, At scale Low-effort, High Attribution Metrics that shows you whether your buyer’s expectation is met Probable causes Poor close rate - means buyer’s expectations weren’t met Goal: Improve close rate to achieve expectation 01
13. • Misunderstanding of buyers decision- making process • Poorly framing the success criteria for your buyer • Failure to create a compelling future end-state and a sense of urgency • Enablement by all - Sales and Marketing teams refer to single source of buyer information that helps them deliver an integrated, 360 buyer experience • Buyer experience at the center - avoid broken buyer experiences through a 1 buyer - 1 view - 1 team approach - deliver the right message to the right buyer at the right buying stage • How can you enable marketing to understand the buyer better? A single platform to capture all buyer data across all interactions - this enables marketing to iterate content faster and make it more relevant to the buyer, hence to sales Metrics that shows you whether your buyer’s expectation is met Cycle Time Qualitative, Individual-focused High-effort, Poor Attribution Typical actions by sales enablement Data-led, At scale Low-effort, High Attribution • Content • Training • Coaching Probable causes More or Better High deal cycle time - means buyer’s expectations weren’t met Goal: Shorten deal cycle time to achieve expectation 02
14. • Poor negotiation with the customer • Agony-driven quarter-end discounting • Full economic value not established during sales process • Use 360 Buyer engagement data to get insights on past behavior and position your pitch accordingly • Go Account-based - capture Account level prospect activities on your website and past communication to identify signals and right offer to sell • Use Unified customer data to predict probability of which offers /plans they could buy, based on data from similar customers Low Deal size - means buyer’s expectations weren’t met Goal: Increase Deal size to achieve expectation Metrics that shows you whether your buyer’s expectation is met Deal Size Qualitative, Individual-focused High-effort, Poor Attribution Typical actions by sales enablement Data-led, At scale Low-effort, High Attribution • Content • Training • Coaching Probable causes More or Better 03
15. Patrick Mouratoglou Serena Williams’ famed tennis coach www.telegraph.co.uk And as a coach... “You have to say the right things to bring confidence.”
16. Happy measuring ! Felix Dumitrica Head of Sales Enablement and Productivity for Europe