We know from our practice that too many companies end up with inaccurate sales forecasts which is frustrating for managers and executives alike. So, how can you get reliable forecasting information? In this session, we will show you a three things you must do: 1) How to select better prospects. To do that, you need a very specific Ideal Customer Profile so your people are investing time with only the best prospects and not wasting time on prospects that can’t or won’t buy from you. We will show how to do that. 2) Slow down your proposals. Yes, we said, slow down. We will show you how working with the prospect on trial balloons, works in progress, assignments, etc. will keep them involved in the sales process and how they will help you actually design the proposal. Slowing down the proposal almost always speeds up the sales process. 3)Help salespeople ask themselves the right questions. Are they addressing an urgent need inside the prospect’s business? Is there funding available for the project? Who are the decision makers involved? What is our relationship like with this prospect? Who is our competition for this order? Are there any internal issues within the prospect’s organization that could delay your proposed project? Too often salespeople are oblivious to some of the key issues that affect their success and they end up submitting projections that are too optimistic.
TAM AdEx-A Pixelated view into Digital Advertising Trends for Y 2023.pdf
WHO TO TARGET & HOW TO IMPROVE YOUR SALES FORECASTING [INBOUND 2014]
1. #INBOUND14
Who to target &
How to improve sales
forecasting
Ma-
Sunshine
@ma-sunshine
Ma-sunshine@leadg2.com
Execu&ve
Vice
President,
The
Center
for
Sales
Strategy
and
LeadG2
2. Who to Target &
How to improve Sales Forecasting
Matt Sunshine
@Mattsunshine
mattsunshine@LeadG2.com
Goal for the 45 min:
Less Theory & More Reality
3. Great Sales Process = Great Sales
Success
Who to target &
How to improve sales forecasting
4. Who to Target &
How to improve Sales Forecasting
1. Select better prospects.
2. Slow down your proposals.
3. Ask the right questions.
5. Who to Target &
How to improve Sales Forecasting
Select better prospects.
q Ideal customer profile
q Account list management system
Key account strategy
q Define your verticals
9. What category do you want to own?
¨ B2B
¨ Retail
¨ Furniture
¨ Home
and
Garden
¨ Manufacturing
¨ Medical
¨ Home
healthcare
10. Who to Target &
How to improve Sales Forecasting
Slow down your proposals
q Interactive selling
q Contracting and Partnering
q Homework assignments
q Use a pre proposal
16. Who to Target &
How to improve Sales Forecasting
Ask the right questions.
q Be consistent – ask the same questions every
time about your pending opportunities
q Study the analytics.
The curse of “I have a good feeling about this one”
q Pipeline Accelerator = Sales algorithm
17. 3
QuesKons
to
Ask
1. Has the prospect already seen and agreed
to everything that is in the proposal?
2. Can you make a list of why this is good
for the prospect to do?
3. What reasons might the prospect have to
say no or want to think its over?
18. Study
the
analyKcs
Know what to measure.
ü Intro calls per month
ü Questionnaires completed
ü Demos
ü Pre-proposals
ü Proposals
ü Closes
20. Powered
by
Sales
Exper+se
&
Sales
Intelligence
Combined
— Increase
Win
Rates
— Increase
the
number
of
AE’s
making
quota
— Reduce
number
of
deals
slipping
past
their
close
Date
— Reduce
the
number
of
‘No-‐Decision’
deals
— Increase
ForecasKng
Accuracy
— Gain
greater
Predictability
in
Revenue
ProjecKons
— Inspire
Confidence
&
Trust
in
Sales
Forecasts
21. Powered
by
Sales
Exper+se
&
Sales
Intelligence
Combined
The Intelligence by Occulus The Expertise by The Center for Sales Strategy
– Provides
the
sales
science
to
a
sales
organizaKon
enabling
it
to
accurately
assess
the
quality
of
deals
in
the
pipeline
– Informs
sales
organizaKons
what
to
do
to
win
more
business
– Provides
objecKve
probabiliKes
for
winning
and
Kming
– Provides
the
sales
exper+se
to
a
sales
organizaKon
enabling
it
to
accurately
forecast
revenue
based
on
the
assessments
– Develops
the
strategy
on
how
to
win
more
business
uKlizing
the
principles
of
How
Selling
and
the
informaKon
from
the
Pipeline
Accelerator
predicKve
analyKcs
so^ware
22. STEP
1:
Powered
by
Sales
Exper+se
&
Sales
Intelligence
Combined
The
Account
ExecuKve
(AE)
answers
a
series
of
mulKple
choice
quesKons
that
cover
the
key
areas
of
a
deal:
— Quality
and
definiKon
of
the
Opportunity
— Quality
of
the
SoluKon
— Understanding
of
the
prospect’s
Buying
Process
— Depth
&
Breadth
of
the
RelaKonship
— Understanding
of
the
CompeKKon
— Understanding
of
the
Timing
24. STEP
2:
Powered
by
Sales
Exper+se
&
Sales
Intelligence
Combined
The
AE’s
answers
are
analyzed,
providing
an
objecKve
assessment
of
the
deal,
enabling
the
Sales
Manager
to
understand:
• The
degree
to
which
the
AE
has
qualified
the
deal.
• The
degree
to
which
the
AE
understands
what
the
prospect
is
trying
to
do
and
why.
• If
the
AE’s
soluKon
matches
the
prospect’s
requirements.
• How
well
the
AE
understands
the
prospect’s
buying
process.
• The
strength
&
depth
of
the
AE’s
relaKonships
with
key
individuals.
• How
well
AE’s
soluKon
stacks
up
against
the
compeKKon.
• The
probability
that
the
AE
will
win
the
business.
• The
probability
that
the
deal
will
close
when
the
AE
says
it
will.
26. Powered
by
PIPELINE
Accelerator
determines
what
needs
to
be
done
to
win
the
deal;
the
AE
and
the
Sales
Manager
determine
how
to
do
it:
• The
SWOT
Analysis
idenKfies
the
strengths
&
weaknesses
of
the
AE’s
selling
strategy
and
provides
the
basis
for
developing
strategies
to
build
on
the
strengths
and
miKgate
the
weaknesses.
• Provides
a
list
of
“s&ll
missing”
informaKon
the
AE
needs
to
obtain
• Determines
what
“specific
ac&ons”
the
AE
needs
to
do
to
improve
their
chances
of
winning
• Development
of
a
strategy
on
how
to
win
the
business
STEP
3:
Sales
Exper+se
&
Sales
Intelligence
Combined
27. BENEFITS:
Powered
by
Sales
Exper+se
&
Sales
Intelligence
Combined
— Increased
Win
Rates
— More
AE’s
making
quota
— ReducKon
in
Deal
Slippage
— ReducKon
in
‘No-‐Decision’
deals
— Increased
ForecasKng
Accuracy
— Greater
Predictability
in
Revenue
ProjecKons
— Great
Confidence
&
Trust
in
Sales
Forecasts