Five Secrets to Closing Seven Figure Deals

Five Secrets to Closing Seven Figure Deals

Gabe LarsenDirector Sales Acceleration Services

Business Growth Index – Sample

Results5m+ records analyzed

500+ leaders surveyed

CRO CEO CMO CTO

“76% of Business Leaders Predict Either Steady or Accelerated Growth”

- Business Growth Index -

CFO

CRO CEO CMO CTO

Who is the most difficult executive to deal with when you miss your number?

CFO

CRO CEO CMO CTO

Who is the most difficult executive to deal with when you miss your number?

CFO58.8% - -

Companies Are Going Whale Hunting

Metric 2015 (vs. 2014)Sales Cycle 6.4% LongerClose Rate 2.1% LowerDeal Size 5.5% Larger

Secret Number One

Practice Account-Based Sales

Account-Based Sales

Account- Based

Prospecting

Account-Based Closing

Account- Based

Marketing

Secret Number Two

Solidify Your Tech Stack

How Do You Stack Up?

Account Executive

Client Success

Sales Mgmt

Sales Operations

Sales Development

How Do You Stack Up?

Account Executive

Client Success

Sales Mgmt

Sales Operations

PresentationsPipeline

ManagementQuote & Proposal

Contracting & E-SignatureForecasting

List ServicesData Mgmt

RoutingTerritory &

Quota MgmtData

Visualization

Onboarding & Training

Compensation & Incentives

Hiring & Recruiting

Campaign Mgmt

PrioritizationIntelligence

Communication

Risk MgmtEducationAdvocacy

PrioritizationIntelligence

CommunicationMotivation

Qualification

Sales Development

Sales Acceleration Technology Usage

Closing Deals: Top Tools

CRO CEO CMO CTO

“18.8% of Leaders Reported Predictive Technology Gave Them a Boost in

Driving Larger Deals”

CFO

Secret Number Three

Manage Your Pipeline

Probability

Proposal Finalist Selected

0%20%

40%

60%

80%

100%

Upside Commit WonPipelineCategories

Stages ClosedIdentifiedPlanning

Establishing a Foundation

Measure the Health of Your Pipeline

Quality

Balance

Velocity

Qua

ntit

y

Secret Number Three

Establish a Management Cadence

TIMING VP Manager Rep

Annual Business/Territory Planning

Semi-Annual Performance Assessments (January & August)Competency Assessments

Quarterly

Business Plan Review Focus Account Reviews

Sales Rep Business Plan Review (include Target Account review)

Monthly Monthly Sales Meeting

Weekly orBi-Weekly

Individual and Team Coaching, Pipeline/Forecast, Opportunity & Account Strategies

Sales Management Cadence

During the final week of the month, the weekly cadence converts to daily. Weekly*(Thurs -

AM)Sales Roles

Weekly*(Thurs -

PM)Sales

Managers

Weekly*(Fridays -

AM)VP

Weekly*(Fridays -

PM)CEO

Manage Opportunities and Apply

Forecast Standards

Upside and Commit Pipeline

Review Upside and

Commit Pipeline

Update SFDC

Develop Action Plan

Revise Forecast

Conduct Sales

Manager Forecast Meeting

Conduct CEO

Forecast Meeting

Apply JudgmentRevised Forecast

Apply JudgmentRevised Forecast

Be aware of the top three challenges that typically impact accurate forecasts, and ensure that you coach your teams to overcome and avoid them.

Unqualified/Stalled Opportunities

❑ Pipeline stuffing❑ Shifting quarter to quarter

Process Discipline❑ Offline spreadsheets❑ Adhering to forecast

definitions

Cultural Inhibitors❑ Underforecasting

“Sandbagging”❑ Overforecasting “Saving

Face”

Forecast Challenges

3

1

2

3

Forecast Cadence

Secret Number Three

Provide Coaching

Training and Coaching

What do These Superstars Have in Common?

Week Topics

Week One Metrics Day (analytical)

Week Two Case Study (practical)

Week Three Data and Research (theoretical)

Week Four Role Play (developmental)

Week Five Manager Huddle

7

Monthly Skill Program

Summary1. Practice Account-Based Sales2. Solidify your Sales Stack3. Manage Your Pipeline4. Establish a Management Cadence5. Provide Coaching

QUESTIONS?