The Sales Enablement Straight 8 - Qvidianinfo.qvidian.com/rs/qvidian/images/TheStraight8.pdf · 2011-02-01 · The Sales Enablement Straight 8 8 Questions to Help You Gauge Your Sales

The Sales Enablement Straight 8 8 Questions to Help You Gauge Your Sales Team’s Effectiveness Written by Susan Murray, VP Sales Process & Practices

The Sales Enablement Straight 8

© Copyright Qvidian

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Table of Contents Page

Introduction to the Straight 8 2

1. Deployment of Sales Playbooks 2

2. Use of Sales Metrics & Analysis Reports 4

3. Development & Delivery of Sales Best Practices 6

4. Support for New Product Launches, Cross-Selling & Up-Selling 7

5. Consistency & Support Across the Span of the Sales Cycle 8

6. Clarity on the Sales Team Structure 9

7. Adoption of the SFA by the Sales reps 10

8. Conducting Post-Win Analyses 11

One More Time 12



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Introduction Straight 8 is a discovery process directed to the key stakeholders in a sales organization – salespeople, sales executives, sales operations, and marketing. It starts by uncovering challenges hindering higher sales performance and offers the implementation of technology and process solutions enabling sales effectiveness and achieving initiatives. For best results, use all 8.

1. Does your sales force have access to Sales Playbooks for different selling situations?

A ‘Sales Playbook’ provides a prescriptive path

and directions to advance sales reps through

deal cycles of selling scenarios. An effective,

work-flow designed Playbook outlines a deal’s

stages, activities, content, and tactics within the

structure of a sales rep’s SFA or CRM system.

Typically organizations utilize a number of Sales

Playbooks for different sales situations. For

instance, the Playbook sales reps access in their

SFA when working a ‘net new opportunity’, is

probably different in scope than one used for a cross-sell or expansion opportunity. As well,

there are Playbooks created for lead management, account planning, renewal activities, etc.

Best playbooks are built directly from top performer input. There are informal to formal sales

processes, and various sales methodologies used, blended, and customized as playbook

structures; however, central to a playbook’s success is understanding and documenting how top

performers execute sales activities.

Effective Sales Playbook characteristics:

It’s a lot more than paper – it leverages your SFA application and integrates existing data

such as accounts, leads, contacts, etc.

Coaching tips and tactics are attached to various activities to ensure winning techniques

are distributed to sales team members. Suggestions, alerts, ‘gotchas’, FYIs, and

news/announcements can also supplement the Playbook activity with coaching content.



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Templates and sample content items are attached directly to Playbook activities so the

sales rep can hit the ground running instead of spending time searching, calling

colleagues, or re-creating core deliverables or presentations for a prospect.

Activities center on the buyer and a solution instead of products, features, price, etc. A

leading playbook eliminates the vanilla pitch and focuses on uncovering a buyer’s needs

and problems, while aligning the value and benefits your company and solution provides.

Activities to facilitate a sales rep’s preparation for contacts and meetings with buyers

should include: directions to locate, research, and identify the prospect.

Includes appropriate content and tactics to ensure that reps have the tools to win against

key competitors. Throughout the sales cycle, provide the sales reps with profiles of

competitors, sharp-sticks, and messaging to beat out the competition.

Information about the value propositions and business case benefits of your solution are

baked into each stage of the playbook. If the overall value of your solution is perceived as

high and compelling, the chances of avoiding price concessions, deep discounting, and

feature/function battles are greater.

Built to reinforce your existing sales training programs and to drive consistent behaviors

and language within your sales team. It is essential to reduce non-value added activities

for the sales rep and add activities enabling them more 2-way dialogues with their buyers.

Setup to ensure Marketing and Sales are internally aligned and that you can measure

what content is being used to support winning deals. Provide Marketing with the

information required to understand what events, assets, or collateral are or are not

effectively supporting the sales cycle.

As the sales/buyer arena demands more knowledge, the best business case must capture and

synthesize the valuable knowledge of top performers. To scale your business with world-class

organizations, Sales Playbooks need to be a key part of the solution.



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2. Are there tools in place to measure and monitor sales performance and effectiveness?

Where to start, what to capture, which tools to use, and

who are the owners? What does a sales executive need

to monitor performance? Let’s dive in.

There are more than enough data points that sales

managers can access, but which are Key Success

Indicators (KSIs) for the business? In short, they

are the metrics reflecting an organization’s critical

success factors. They reflect the company’s goals

such as retention of customers, acquisition of new

customers, and number of leads converted to opportunities; and they are quantifiable.

They tend to have long-term considerations and can typically be the numbers on which

people are compensated. The KSIs you select need to also consider the business

intelligence activities that will transform this data into information that increases your

knowledge and helps you make better sales performance decisions.

The following groups of quantitative metrics are those most organizations deem as KSI worthy:

o Product Metrics - # of new product sales, sales by product line, combinations of

product lines, etc.)

o Process Metrics - # of calls made, length of time spent in particular stage or

activity, subject matter experts used when/where, deals that fell off the pipeline at

50% probability to close, etc.

o Customer Metrics - # of new customers acquired, sales by customer segment, etc.

o Financial Metrics - cost of acquisition, cost of attrition, profitability, quotas

obtained, etc.

Cross-Department Alignment Metrics - which content from the Marketing Group led to

Sales winning deals, which Inside Sales leads converted to Outside Sales opportunities,

etc.

Determining the quantifiable metrics to use is a walk in the park compared to

considering the qualitative data points. This data is very important in evaluating sales

performance across an organization. Most sales managers consistently look for methods to

measure the following qualitative skills and tactics:



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o Selling Techniques - listening, obtaining participation from a prospect, finding the

hot buttons, problem solving, overcoming objections, closing the sale, etc.

o Territory Management - planning, utilization, documentation, follow-up-

collections, etc.

o Personality - attitude, empathy, inspiring trust, energy, motivation, self-

improvement, team work, creativity, etc.

Then there is the issue of timing – can you measure activities during the sales process

while opportunities are being worked, in addition to post-sales analysis following the

win/loss? The majority of metrics are built from a post-sales perspective – after the deal

is won or lost; however, for sales cycle opportunities ranging anywhere from a few

months to 18+ months, there is time to measure performance while the deal is being

worked. The ability for a sales manager to look across opportunities and analyze critical

points in the cycle can be of tremendous value. If the sales process and activities are

outlined in a Sales Playbook, then managers have this visibility and, most importantly, the

time to coach – to ensure deals stay on track and their values remain high. The following

sales analytics provide in-process insights:

o Which deals in the pipeline with over 70% close probability in the next 2 weeks are

currently in the contract negotiations activity with the prospect? (If they aren’t in

contract negotiations, there is a low likelihood they are going to close shortly).

o Which opportunities over a certain deal value have delivered the final proposal

and not had any other activities for 3+ weeks? (Why is the proposal stuck – is the

solution proposed not correct, has the value not been established, what is the

pricing?)

o Which sales reps are continually not getting deals past the 50% probability to

close, (What is the activity being done that is causing this fall-off or creating this

bottleneck at the ½ way point for the deal?)

Finally, what tool or technology can we use to capture and generate the reports that are

easy and fast to compile and analyze? There are excellent tools to provide sales analytics,

but the right level of capture is difficult to achieve. If, for example, there is too high a

level of capture, then you won’t have access to information that you can act on. If the

latency of the data is always post-sales, then you are going to be in a reactive versus pro-

active mode.

Sales reports and monitoring of sales activities is fundamental to managing a sales team. The

primary reason for utilizing sales analysis metrics and tools is to have the information available



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to make choices, evaluate alternatives, and mitigate risks. When sales reps follow a Sales

Playbook, they know where they are with each lead/account/opportunity and what needs to be

accomplished to progress the deal. If these activities are tracked, they are predictable enough

to forecast sales. When combining Sales Playbooks with SFA technology, you have a successful

combination.

3. Do your sales best practices provide the sales reps with enough

information to perform the activity? How are these practices and content shared across your sales organization?

A “best practice” is a technique or

methodology that, through experience and

research, has proven to reliably lead to a

desired result. If you do a Bing search, you’ll

get 81,300,000 to choose from! A truly

effective sales best practice, however, is more

than just a technique or methodology. It’s a

combination of the sales practice or process,

the related coaching tips, and the associated

sample content that elevates it to “Best

Status” and warrants a place in your playbook.

Here’s an example of how to use best practices to enhance product demonstrations. Most sales

cycles require the sales rep to demonstrate their product or services, but simply providing a

demo while working the opportunity may not be enough. If, however, conducting a demo after

the deal is qualified and a detailed discovery is conducted to capture ‘hot buttons’, then you are

getting closer. Add in a sample demonstration script that the prospect can

customize/personalize and a ‘sales engineer’ that can conduct the demo, and you are almost

there. Wrap it up with the specific coaching tips on who should be in the audience from the

prospect’s company, what body language to look for during the demo, how to set competitor

traps, how to surface objections and answer questions, and you have achieved a Best Practice

status!

Now you need the vehicle to drive best practices to the sales reps. If sales best practices like

these are all prescribed in a Sales Playbook in specific opportunity context, sales reps will have

the tools and tactics they need to perform that step. If best practices are delivered through

your SFA or CRM system, you now have the extra benefit of tracking that best practice (who did

it, who didn’t do it, how long did it take, was it done on winning deals, etc). Sales Playbooks

made up of true best practice activities and delivered from your SFA system provides sales reps

immediate access to knowledge. For your new reps, you are giving them the information to



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lessen the learning curve and start producing revenue more quickly. For your top performers,

you are accelerating and streamlining their sales activities so they can work more deals

simultaneously. For those sales reps requiring more assistance, you are able to use technology

to present them with the best practices, content, and the coaching to guide them through the

various complex stages of any deal.

4. How are sales reps supported for new product launches and cross-selling situations?

Answering this question has typically been a

challenge for many organizations across

different industries. A significant investment

goes into building or acquiring new products to

sell, but getting sales reps comfortable selling

them is difficult. This is especially an issue with

sales reps that have built successful long-term

relationships with their customers and may be

hesitant to jeopardize that by introducing

something new with no ‘real’ track record.

Bringing the reps in-house for training is one aspect of building their knowledge set, but

retaining this new information in the long term is difficult. Successful sales enablement

strategies recognize that reps need the new product information, messaging, and use cases at

their fingertips to articulate it clearly to their buyers. They need the information now, not

tomorrow.

Allowing them to interact with the new products (or services) is a good first step toward buy-in

but there is key content they will need immediately. This includes:

A brief, scripted sales presentation that provides conversation starters with the prospect

in this ‘new area’, along with a summary that encompasses the key features of the new

offering

Sound bites on how this new product is different from some of the competitors' in this

space

A list of FAQs with non-technical jargon that guides sales reps to respond to anticipated

customer questions or objections

As many ‘proof points’ or customer adoption stories as possible



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A few key pieces of marketing collateral that they can share with buyers after their first

conversations (e.g., product sell sheets, screenshots, analyst briefings, etc.)

Give your sales reps the information needed to start the dialogue with a prospect and to begin

to develop their confidence in offering the new solutions. Videotaping and role-playing are also

useful tactics to fine-tune those early first conversations. As sales reps move along the sales

path with a buyer, then they need to know the internal contact to call in to supplement these

initial opportunities. Some organizations even offer a spiff for a period of time so that the reps

are incentivized to come out of their comfort zones and promote these new offerings.

5. Can the sales reps easily deliver a consistent message and image across the span of the sales cycle?

It's your complete corporate messaging,

compelling story, and brand that

differentiates you from your competitors and

persuades customers to purchase your

product/service. It’s not uncommon for sales

reps to have the best content and start

strong during the early stages of the sales

lifecycle, but then flatten out when

messaging becomes confusing or scarce in

the latter-critical stages of the opportunity (contracts, negotiations, implementation planning,

customer success, etc). A sales rep must present convincing content and messaging early in the

sales cycle; but, when the deal gets over the 50% close probability, information and process

must remain powerful. The support, tools, and collateral provided to the sales rep after the

deal’s half-way point must be easily accessible, personalized, and targeted to keep the prospect

engaged. The sales reps need the same level of focused content, coaching tips, and process

guidance across the span and duration of the sale to bring the deal over the finish line.

As the content needed at the later stages of the opportunity is different, you are likely to need

more proof points, references, case studies, ROI examples, and technical instructions. The

overview is over, the prospect needs deeper levels of information to ensure they’re making the

right choice. The subject matter is now different and more relationships need to be built. And

sales reps will need procedures to access and utilize internal senior executives efficiently to

solidify the buying decision. If your products/services meet 100% of a buyer’s needs, great – but

don’t count on it. Facilitating a discussion with a product management executive and with the

buyer to talk about your roadmap, R&D staffing, and commitment to innovation can be very

powerful. It can position the buyer at the onset as a player in your organization’s product

development.



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Keeping messaging consistent and momentum high in the last half of the sales cycle requires

materials and cooperation from other parts of your organization such as: engineering, product

management, customer services, and finance. The sales rep needs to be aligned and in

cooperation across different business units to gather the sales messaging and expertise the

buyer wants to know. There must be a company-wide desire to help Sales make the sale

coupled with a clearly outlined sales process clarifying roles, timing, and expectations of the

various parties.

6. Is there an extended sales team structure in place to work deals, with clarity on roles and responsibilities?

Sales Reps are the lead in the deal and,

therefore, it is essential that they work

cooperatively with anyone in the

organization who can contribute to product

knowledge. Of course they don’t have the

time to tap everyone, and this is where the

Subject Matter Experts (SMEs) come in to

play, Statistics show that when they do, the

sales cycle greatly improves sales success

rates. The most successful sales teams have

a clear cross-functional map (identifying other sales resources, marketing, client services

resource, etc.) and sales reps know how and when to enlist these experts in the sales cycle.

Along with this roadmap, sales reps should be one click away one click away from accessing the

knowledge experts and other reps with tools such as social networking blogs, wikis, and social

groups.

During an opportunity’s lifecycle, the sales rep is front and center in the beginning qualification

and relationship-building stages and at the end of the deal to ensure negotiations are successful

and contracts are signed. In the key stages of the deal, sales reps should, however, be in

partnership with SMEs to help in defining the prospect’s problem, preparing a customized

solution and presentation, and sharing your company’s vision and roadmap with a prospect. For

all sales reps (tenured or new), the key is to identify where in the various stages of the deal

lifecycle and in which activities will the sales rep benefit from additional team resources. For

those activities, an internal SME route map, listing areas of expertise with contact information

should be provided to the sales rep. This can reside in your SFA via a Sales Playbook with

electronic workflow, or simply a document with the information attached to the activity. Either

way, helping the sales rep feel comfortable introducing the right new resources to the prospect,

or integrating them into the specifics of the opportunity is extremely powerful. Successful joint

collaborations will also ensure that the implementation and ongoing relationship is long-term.



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7. How is your organization addressing the sales rep usage adoption issues of your SFA?

If sales reps are reluctant to use a leading

SFA, then maybe the system needs to be

implemented first and foremost with the

intent to give something valuable back to

them. When sales reps view the

application as merely a monitoring

application where they have to feed it

information so their management can

report on progress being made and deals

about to close, you have lost the battle. If

a sales rep can find a value to use it for day to day activities, they will.

One of the common activities a sales rep may have to do during the selling process is prepare a

write-up of the ‘proposed solution’ for their buyer. In a standard implementation of an SFA

system, the sales rep updates the opportunity record to indicate that they are working on this

specific task. But they are on their own to figure out how to do this activity, and to search for a

similar deliverable that they can re-use. The sales rep would find benefit if the SFA system

provides the following:

Details and coaching tips on when the ‘proposed solution definition’ should be shared

with the buyer. (If this is done too early without proper qualification of the deal or

without a deep discovery to understand the current situation and competitive landscape,

then the rep hasn’t put their best foot forward).

Names/numbers of the internal subject matter experts that can help them assemble this

quickly, with the latest and greatest options.

The best sample template of a ‘Proposed Solution Document’ that they can quickly grab,

personalize, and use to present the information to their buyers. (Provide the template

that’s been used on winning deals and contains the latest product information from your

Marketing Group.)

The two or three compelling things to add to the solution definition so they can beat out

the competition. (Tell the sales rep the sharp-sticks to use against specific competitors, or

what traps they can set to ensure the buyer is aware of the competitor’s weaknesses).

If the SFA can provide this level of knowledge and content to the rep to help them close their

deals, then there is something in the SFA for them, and they’ll definitely use it. And if they use

it, management can then measure what works and doesn’t work so that they can propagate it

across the full sales team structure.



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8. What kind of review is done after the opportunity is closed? Effective sales enablement strategies

allocate time to take a look at what

happened with key deals. It’s not fun –

but, for the next opportunity, it pays off

because you’ve drilled down to what

contributed to the outcome of important

opportunities. Conducting an after-

decision interview with the buyer

uncovers the distinctive ‘one thing’

(feature, message, and proof point) that

tipped the scale! Statistics show that

many organizations do not do this, and, those that do, only do it 20% of the time. Here are

some reasons they don’t perform this post analysis:

The process is considered optional with no completion deadline imposed

There are no actionable goals following the completion

There isn’t a template to use to capture the information

It’s not clear where it goes when it is completed

Here are some reasons why it’s important to perform a post analysis:

These reviews are vital to tune-in to market perception

You gain competitive advantage by diagnosing your sales performance

You’re able to verify your differentiation and messaging

Your selling process can be tuned to closely align with your buyer’s process

Feedback on specific features/functions can be shared with your Product Management

group for insight into examining positive and negative product aspects.

After-decision reviews should be embraced and acted on, but they need to be completed in a

timely manner and they need to be easy and quick for the sales rep and team members to

complete. Understanding what actually led to the deal’s outcome is usually ‘in the details’ and

needs to be uncovered to be replicated or eliminated.



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One more time

Organizations allocating time and energy to gauge success levels in Sales Enablement and

Effectiveness can really begin to fine tune their efforts and progress. Straight 8 helps zero in on

and drill down into the areas where improvements can have a big impact. Focusing on the most

important sales metrics and providing Sales Playbooks to the reps to support selling situations is

vital. Ensuring that the sales team has the best content and tactics across the full span of the

sales cycle is a must. Arm the reps with the information on how to successfully navigate

opportunities ‘internally’ and deliver it all through your SFA technology solution. Then you’re

paving the way to deal acceleration and higher win rates!

About Qvidian From first contact to creating loyal customers, Qvidian enables your sales organization to confidently engage prospects and win more often using proven, dynamic tools, and integrated best practices. Qvidian’s cloud-computing sales effectiveness platform combines Sales Playbooks & Analytics, Proposal Automation, and a robust Content Library. See it in action at www.Qvidian.com. To learn more about Qvidian’s proposal solutions, visit www.Qvidian.com, or call 877-523-4368 (USA) or +44 (0)870 734 7778 (UK).

Documents

The Sales Enablement Straight 8 - Qvidianinfo.qvidian.com/rs/qvidian/images/TheStraight8.pdf · 2011-02-01 · The Sales Enablement Straight 8 8 Questions to Help You Gauge Your Sales