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Measuring sales is easy...

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.

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Transcript

  1. Measuring sales
    is easy.

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  2. What about measuring selling?
    Felix Dumitrica
    Head of Sales Enablement
    and Productivity for Europe

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  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..

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  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

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  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

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  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

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  7. So, what should guide sales
    enablement leaders?
    Buyer expectations should be the North Star

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  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 ?

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  9. Deal Size
    Cycle Time
    Close Rate
    Some metrics that can determine whether we are
    meeting our buyer’s expectations

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  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

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  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

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  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

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  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

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  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

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  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.”

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  16. Happy measuring !
    Felix Dumitrica
    Head of Sales Enablement
    and Productivity for Europe

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