1. Re-Engineering Your Sales ProcessLee GarrisonJULY 28 THTED ROGERS SCHOOL OF MANAGEMENT,RYERSON UNIVERSITY www.productcamptoronto.wordpress.com

2. A kitchen table conversation What is a kitchen table conversation? Is there a sales process? How do you know you have a problem? What are the symptoms of anundefined sales process? How does it effect productmanagement? 3. How do you know you have a problem? Lost sales are increasing Sales is selling stuff we dont have Sales cycle is too long or increasing Sales is selling to a different problem Sales activities are not transparent There is no CRM Pricing and discounting are inconsistent Sales is ignoring a new product 4. Lead GenerationPURCHASE FUNNEL ONLINE SUCCESS METRICS Target Reach % Increase in searches for brand Increase in all site traffic Awareness Control survey awareness increase Increase in any blog mentions (buzz) Viral pass-along Leads Generated Interaction Rates Consideration Control survey consideration increase Increase in product review page traffic Increase in opt-in/subscription rates Control survey favourability increase Favourability Increase in positive blog mention (buzz) Viral pass-along Purchase Control survey purchase intent increaseIntent Strong website event Contact requested Purchase/ConversionPurchase Quality/Amount Repeat Purchase/Conversion Lifetime Quality/Amount Loyalty Share of Wallet Recommendation 5. Sales Process 6. Align Sales Stages Sales Stage ForecastProcessSales ToolsFactor1.Lead0 a. Marketing gathers qualifying information (status = open) a. Company name, basic business info b. Qualification Criteria #1 c. Qualification Criteria #2, etc.b. Qualified Leads assigned to sales rep (status = qualified)c. Sales makes initial contact (status = contacted, deferred, inactive)2.Qualified5% a. Initial contact madeQualification checklistProspectb. Contact has interest in initial presentationc. Convert from Lead to Accountd. Create Opportunity with $ and close date3.Qualified10%a) Initial presentationStandard sales deckOpportunity b) Contact has interestMNDA/CDAc) Pain points validatedd) Agree to follow up meetinge) Agree to sign MNDAf) Update Opportunity4.Impact 20%a) Present draft business case Business Case/ImpactAssessmentb) Validate value propositions Assessment Templatec) Key stakeholders involved with buying/decision process identified (business sponsor, techWhitepapers team, finance team, marketing team)d) Agree to assist us in setting up meetings with key stakeholders5.Presentation 40%a) Presentation of Business Case to the keyPresentation deck for eachto Teamstakeholders completed. stakeholder categoryb) Interest in continuing by key stakeholdersSales objections handling list including business sponsorCompetitive differentiators Case studies Customer references 7. e) Agree to sign MNDAf) Update Opportunity4.Impact 20%a) Present draft business caseBusiness Case/ImpactAlign Sales StagesAssessmentb) Validate value propositionsAssessment Templatec) Key stakeholders involved with buying/decision process identified (business sponsor, tech Whitepapers team, finance team, marketing team)d) Agree to assist us in setting up meetings with key stakeholders Sales Stage Forecast ProcessSales ToolsFactor5.Presentation 40%a) Presentation of Business Case to the key Presentation deck for eachto Teamstakeholders completed.stakeholder categoryb) Interest in continuing by key stakeholders Sales objections handling list including business sponsor Competitive differentiatorsCase studiesCustomer references6.Technical50%a) Review and technical validation, understanding Presentation deck for techValidation of implementation requirements and timelines buyer7.Verbal 60%a) Business sponsor on boardImplementation methodologyagreement b) Verbal agreement to move forward.Best practices resourcesc) Understanding of the contracting/signoff Implementation presentation processMarketing presentationd) Implementation planning and scheduling in progress (technical + marketing)e) Statement of Work (SOW) prepared8.Contract 70%a) Standard contract forwardedStandard agreementsubmitted b) Application form submitted SOW templatec) Implementation schedule and timelines agreed to in SOW9.Contract in80%redlines10. Contract 90%a) Agreement signed.Marketing launch plansignedb) PO in processPR readiness11. Integration 100%a) Agreement on KPIscompleted b) Marketing launch