The High Velocity Sales Model: Demand Gen, Specialization, Process Mapping
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Featuring Gabe Larsen, Director of Momentum at InsideSales.com Inside sales is growing three times faster than traditional sales. To help you better understand this shifting sales environment, Gabe Larsen will share which trends have forever changed selling and how organizations can adapt to stay ahead. In this webinar you will learn: -How sales specialization can help achieve a higher close rate -The keys needed to map your sales process -How to create a prioritization strategy that aligns effort with your best prospects
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The High Velocity Sales Model: Demand Gen, Specialization, Process Mapping
- 1. The High Velocity Sales Model SALES IN THE CLOUD
- 2. THANKS FOR JOINING US LIVE!
- 3. HOW THIS WILL WORK • This webinar will last about an hour • Type in your questions in the Q&A box as you think of them • Write down some action items • This is being recorded… I’ll tell you how to access the recording at the end
- 4. Gabe Larsen Director of Momentum President, AA-ISP Utah Chapter glarsen@insidesales.com Linkedin.com/in/glarsen @GabeLarsen
- 6. Ve • lo • ci • ty noun DEFINITION 1. Rapidity of motion or operation; swiftness; speed 2. The time rate of change 3. The rate of speed with which something happens; rapidity of action or reaction
- 8. The Role of Demand Gen 25%-45% Of pipeline should be sourced High Growth Companies 60% Of leads from demand generation SiriusDecisions Business2Community
- 10. $ SalesMarketing
- 14. HENRY FORD
- 15. Specialist vs Generalist 7pt Higher close rate InsideSales.com
- 16. Demand Generation Inbound Inquiry Outbound MM & Geo List Purchasing Operations Sales Engineer Sales Engineer Self-Sourcing Inside Sales MM & Geo Channel Mgr Social Selling Channel Event Inside Sales ENT & Geo Field Sales Client Success MM & Geo Client Success ENT & Geo Client Success Field Outbound ENT & Geo Outbound Field & Geo Sales Engineer Sales Engineer Implementation MM & Geo Implementation ENT & Geo Implementation Field Product Support Expander Expander Expander Expander Inbound Response Demand Gen SDR Sales Client Success
- 17. Demand Generation Inbound Inquiry Outbound MM & Geo List Purchasing Operations Sales Engineer Sales Engineer Self-Sourcing Inside Sales MM & Geo Channel Mgr Social Selling Channel Event Inside Sales ENT & Geo Field Sales Client Success MM & Geo Client Success ENT & Geo Client Success Field Outbound ENT & Geo Outbound Field & Geo Sales Engineer Sales Engineer Implementation MM & Geo Implementation ENT & Geo Implementation Field Product Support Expander Expander Expander Expander Demand Gen SDR Sales Client Success Inbound Response
- 18. THE PATH TO SPECIALIZATION Generalist Account MgmtSales CloserLead Gen Out In Geo SuccessGrowth 1 2 2 3 3 455 6 6
- 20. I’VE NEVER MAPPED OUT MY SALES PROCESS BEGINNING TO END Says Everybody
- 21. Sales Process 25% Of companies have no documented or adopted sales process CSO Insights
- 22. Current State Sales Process Phase One: Lead/List Acquisition Phase Two: Contacting Cadence Phase Three: Qualification & Close
- 23. Referral Request (duplicates, etc.) Research Google Sales Navigator SFDC Notes/History First Dial + VM + Email Contact YES Contact Later Make notes in Notebook/ Tasks/Calendar to follow up YES Interest NO Interest Contact NO Account Status VM (Email) Attempt Again Done Needs Assessment/Qualification More time Needed Done Save notes in SF Assign to appropriate group Presentation Notes into SFDC Contacts Review folllow-ups Additional research Plan out future contact periods Task Mgt Time Close Data Research Data Cleanup Second Dial Varied Lead Sources VM / Email Notes in SFDC / Follow—up forms Contact YES Contact NO Check calendar / Thumb through follow-up forms 10-15 min 10-20 min Task Mgt Time Metrics Inefficiently Tracked 2-3x Persistency: attempted contacts Calls/Day Lack of Immediacy First touch: Email 40 Calls/Day
- 24. 8X Accounts Salesforce Quick notes check Attempt Contact Contact YES Contact Later Call back using PowerDialer™ YES Interest NO Interest Contact NO Account Status VM (Email) Done Needs Assessment/Qualification More time Needed Done Save notes in SF Assign to appropriate group Create Opportunity Presentation +20% Persistency: attempted contacts Contact Rate 60+ Calls/Day Real-timeanalysis,Prioritized Lists PowerDialer™ LocalPresence™ Engagement Tracking: Vision™ Gamification +20 NeuralView™ +4.5 3 mins Research Time Call back using PowerDialer™ PowerDialer™
- 25. KEYS TO MAPPING YOUR SALES PROCESS - Know functional areas - Map “as is” - Find strengths and weaknesses - Create future state - Have governance structure
- 27. Prioritization 68% Of Reps time is spent researching SiriusDecisions
- 28. EQUAL TIME SPENT ON GOOD AND BAD PROSPECTS Best Prospects Worst Prospects CloseRate Rep Effort Close Rate
- 29. ALIGN EFFORT WITH BEST PROSPECTS Best Prospects Worst Prospects CloseRate Rep Effort Close Rate
- 30. PRIORITIZATION STRATEGY 1. Sales rep opinion 2. Immediacy, time zone, etc. 3. Lead source, industry, etc. 4. Marketing score 5. Predictive score with prescriptive system to act on score
- 31. SALES Cadence
- 32. Phone Calls 1.5 Is the average number of calls per lead
- 33. 1st Dial + Email + VM 2nd Dial + Email + VM Day 1 Day 3 Day 5 BAD CADENCE 3rd Dial + Email + VM
- 34. GOOD CADENCE 1st Dial + Voicemail + Email 2nd Dial 3rd Dial 4th Dial + Voicemail + Email 5th Dial 6th Dial + Voicemail + Email 7th Dial 8th Dial + Voicemail + Email Day 1 Day 2 Day 10Day 4 Day 6 Day 8
- 35. Ve • lo • ci • ty noun DEFINITION 1. Demand generation 2. Specialization 3. Process Mapping 4. Prioritization 5. Cadence
- 36. TODAYS WEBINAR RECORDING • Tomorrow we will email you a link to today’s recorded webinar. Feel free to share it with your colleagues. • Take advantage of the resources available for download
- 37. QUESTIONS & ANSWERS USE THE Q&A BOX NOW.
- 38. Gabe Larsen Director of Momentum President, AA-ISP Utah Chapter glarsen@insidesales.com Linkedin.com/in/glarsen @GabeLarsen
Hinweis der Redaktion
- Everyone Stand Up! Customer, Vendor, Competitor, Sponsor For those of you left standing. If you’ve never seen our ebook, webinar, videos, raise your hand. If you’re still standing come and grab a treat from our booht; If you’re a customer come grab two.
- When Jim Steele first showed up at Salesforce.com in 2002 to lead sales efforts, the first thing he asked Marc Benioff was, “Okay, where is the sales team? I’d like to meet them.” “They’re right here,” said Marc. “No, I mean the sales team—the ones who meet with customers. These guys are wearing shorts and sitting at cubicles.” “Yup. This is our sales team.”
- The world of sales was changing dramatically. The days of calling up your buddies and inviting them to the golf course to smoke stogies and shake hands to close your next potential deal was over. No longer were face-to-face lunches and conference-room meetings the only way to sell complex things and the velocity model was born. There are three areas of the velocigy model I want to cover: 1) Demand Generation - With the boom of the internet the availability of massive amounts of information online buyers began to educate themselves. Today, 60% of buying decisions are made before a customer talks to a company. 2) Inside Sales - Through the use of technology professional sales teams began selling more and more remote from their prospects creating a model that is now referred to as inside selling. Today, inside sales as an industry is growing 3x faster than traditional sales and 60% of what field sales does is considered remote from their prospects. 3) Sales Operations - With an inside selling motion vasts amounts of data were created driving us to big data revolution where data and science could predict and prescribe the path to sales acceleration. Today only 3% of the world’s data get’s analyzed.
- In a high velocity model (typically segment with a focus on smb and mid market) you demand generatino should be producing up to 50% of your pipeline. B2B Communicaty says fast growing tech companies get 60% of their leads from demand gen 60%. But no matter how you slice the pie demand generation will not provide your enitre piplien so you better have a freakin strategy for the for the other 50% percent.
- I know you’ve heard sales and makreting don’t get along. Sales – you send me crappy leads and Marketing – you don’t follow up on my crappy leads so why would I send them.
- Yes we want them to get along but I’m afraid we’d focused too much on getting along and not enough on doing the job sales and marketing need to be doing.
- Marketing! I need you produce 50% of my pipe and I need you to do it with the following strategy Killer Website with paid and organic search optmized to the nth degree Blog and content strategy that rivals hubspot Permission-based email DB with sequencing strategies and drip campaigns Event, social, and video strategy Sales Sales! You have to produce the other half of you pipeline and downloading some names from Linkedin and wasting half of your day social selling them is not going to cut it. It’s not a velocity model. It’s not sales on rails. It’s cowboy town. Marketing needs to market and Sales needs to market if you’re going to effectively fill your pipeline.
- Sales needs to become markerters and learn what the word campaigns means. Start with this. Who and What. Twice a month identify a segment of your database or use linkedin to target a certain vertifcal then decide on how to attack them. What’s your offer? Webinar, Ebook, Event, Dinner?
- Think about it. Assembly line sales. That’s what Henry Ford to to manufacturing. He revolutionized it by creating an assembly line, staffed with all kinds of specialists excelling in their individual skill sets to contribute to the quality of the whole. Whether you like it or not inside sales has slowly moved in this same direction. Rather than rely on one sales person to do everything—prospect, qualify, sell, close and continually manage the account—multiple sales specialties have been created along the sales conveyer belt (CRM). And like a manufacturing plant, this allows for more throughput and better quality performance.
- We did a study in partnership with Dr. James Olldroyd a fellow at MIT and he fundamentally proved the generalist model – where one person qualifies and closes and manages is wrong. If you can split your closing activites from your appointment setting acitivites you have a 7pt higher close rate.
- So how does this look? How are companies specializing. I want to show you what I’ve found. Having been at InsideSales.com for 3 years I’ve seen over 250 sales models from 3m and netapp to docusign and apptus. Here is how companies are specialzing. Are you ready? The demand generation focus plays a predominant role with a dedicated events team to help generate demand. The SDR function is blowing up. My favorite is the inbound response team and the outbound prospecting team as well as a dedicated social selling team. Oh my goodness. A dedicated social selling team that resides in the SDR function so that not every sales rep has to waste time parroosing Linkedin is genious. On the closing side it’s often broken up by territory, product, and vertical and it’s suported by some form of a sales enginnerr. The success organization is morphiing as we speak. You have a client success manager, and implementaiton consultant and a support org but just recetnly we’ve started to see more of that role called an expander or strategic growth consultant that’s dediced the upselling and cross selling so the client success manager can focus on client success.
- Can you belive it? What 20 years ago used to be one person is now 20 people and you know what? The qualifty and qualify is increasing. Now this is a velcity model, this is a machine!
- Now people always ask? Gabe what’s the path to specialization. Look every company is unique but often there is tyipcal path companies take as they look to specialize.
- Deep dive into my own experience Worked with 200 clients What I’ve seen and what acutally works
- Raise the pan – no need to give opinions just show them what is happening, add first touch email before first call
- Bubbles come in later – something at the end, more conversations, more conversions
- I challenge you
- I call it the salesforce stare
- Prioritization is left to the sales rep Lead response prioritization with factors like immediacy, persistency, time of day, etc. De-prioritization strategieslike wrong time zones, non-headquarters location, do not call lists, or duplicates Engagement level prioritization with factors like lead source and offer content type Contact level prioritization with authority factors like tittle level, title function, direct dial number access Account level prioritization with need factors like size, industry, and growth Prescriptive and predictive systems to blend and balance prioritization
- Bad Cadence
- Good Cadence
- The world of sales was changing dramatically. The days of calling up your buddies and inviting them to the golf course to smoke stogies and shake hands to close your next potential deal was over. No longer were face-to-face lunches and conference-room meetings the only way to sell complex things like enterprise software. With the boom of the internet the availability of massive amounts of information online buyers began to educate themselves. Today, 60% of buying decisions are made before a customer talks to a company. Through the use of technology professional sales teams began selling more and more remote from their prospects creating a model that is now referred to as inside selling. Today, inside sales as an industry is growing 3x faster than traditional sales and 60% of what field sales does is considered remote from their prospects. Lastly, with an inside selling motion vasts amounts of data were created driving us to big data revolution where data and science could predict and prescribe the path to sales acceleration. Today only 3% of the world’s data get’s analyzed.