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Five Secrets to Closing Seven Figure Deals Gabe Larsen Director Sales Acceleration Services

Five Secrets to Closing Seven Figure Deals

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Page 1: Five Secrets to Closing Seven Figure Deals

Five Secrets to Closing Seven Figure Deals

Gabe LarsenDirector Sales Acceleration Services

Page 2: Five Secrets to Closing Seven Figure Deals
Page 3: Five Secrets to Closing Seven Figure Deals

Business Growth Index – Sample

Results5m+ records analyzed

500+ leaders surveyed

Page 4: Five Secrets to Closing Seven Figure Deals

CRO CEO CMO CTO

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

- Business Growth Index -

CFO

Page 5: Five Secrets to Closing Seven Figure Deals

CRO CEO CMO CTO

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

CFO

Page 6: Five Secrets to Closing Seven Figure Deals

CRO CEO CMO CTO

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

CFO58.8% - -

Page 7: Five Secrets to Closing Seven Figure Deals

Companies Are Going Whale Hunting

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

Page 8: Five Secrets to Closing Seven Figure Deals

Secret Number One

Practice Account-Based Sales

Page 9: Five Secrets to Closing Seven Figure Deals

Account-Based Sales

Account- Based

Prospecting

Account-Based Closing

Account- Based

Marketing

Page 10: Five Secrets to Closing Seven Figure Deals

Secret Number Two

Solidify Your Tech Stack

Page 11: Five Secrets to Closing Seven Figure Deals

How Do You Stack Up?

Account Executive

Client Success

Sales Mgmt

Sales Operations

Sales Development

Page 12: Five Secrets to Closing Seven Figure Deals

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

Page 13: Five Secrets to Closing Seven Figure Deals

Sales Acceleration Technology Usage

Page 14: Five Secrets to Closing Seven Figure Deals

Closing Deals: Top Tools

Page 15: Five Secrets to Closing Seven Figure Deals

CRO CEO CMO CTO

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

Driving Larger Deals”

CFO

Page 16: Five Secrets to Closing Seven Figure Deals

Secret Number Three

Manage Your Pipeline

Page 17: Five Secrets to Closing Seven Figure Deals

Probability

Proposal Finalist Selected

0%20%

40%

60%

80%

100%

Upside Commit WonPipelineCategories

Stages ClosedIdentifiedPlanning

Establishing a Foundation

Page 18: Five Secrets to Closing Seven Figure Deals
Page 19: Five Secrets to Closing Seven Figure Deals

Measure the Health of Your Pipeline

Quality

Balance

Velocity

Qua

ntit

y

Page 20: Five Secrets to Closing Seven Figure Deals

Secret Number Three

Establish a Management Cadence

Page 21: Five Secrets to Closing Seven Figure Deals

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

Page 22: Five Secrets to Closing Seven Figure Deals

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

Page 23: Five Secrets to Closing Seven Figure Deals

Secret Number Three

Provide Coaching

Page 24: Five Secrets to Closing Seven Figure Deals

Training and Coaching

Page 25: Five Secrets to Closing Seven Figure Deals

What do These Superstars Have in Common?

Page 26: Five Secrets to Closing Seven Figure Deals

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

Page 27: Five Secrets to Closing Seven Figure Deals

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

Page 28: Five Secrets to Closing Seven Figure Deals

QUESTIONS?