Sales Enablement: Data-Driven Sales Coaching to Improve Revenue & Retention. January 18, Stacey Sedbrook. C. Lee Smith.

Transcription

1 Sales Enablement: Data-Driven Sales Coaching to Improve Revenue & Retention January 18, 2017 Mitch Ratcliffe Chief Product Officer, Sr. Analyst BIA/Kelsey C. Lee Smith President, CEO SalesFuel Stacey Sedbrook VP, Strategy & Business SalesFuel

2 Welcome & Agenda What we ll cover: Sales Organizations in Transition Sales Automation Sales Assessments Anatomy of a Sales Enablement Platform? Data-Driven Sales Manager Enablement Discovery Development Engagement Complimentary Sales Enablement Report Q&A Ask questions in GoToWebinar or on Twitter: #SalesCoaching Speakers: Mitch Ratcliffe Chief Product Officer Sr. Analyst BIA/Kelsey C. Lee Smith President, CEO SalesFuel Stacey Sedbrook VP, Strategy & Business SalesFuel 2017 BIA/Kelsey. All Rights Reserved. 2

3 Data & Managers Make Sales Go Successful sales leaders must develop internal sales methodologies that take full advantage of available data to provide: Coaching on sales practices and industry-specific issues Customizable pitch development targeted to a specific audience or prospect Increased employee retention Managers must develop skills: Discovery of what moves their sales staff Coaching of sales staff and assisting in helping employee s achieve professional goals Engagement with customers and sales staff sentiment through surveys and data sources Track and act proactively to build revenue, culture, clear goals and a sense of accountability 2017 BIA/Kelsey. All Rights Reserved. 3

4 Sales-Intensive Organizations are Automating Sales management now carries the burden of processing data that used to be handled by legions of assistants and functional specialists. General operations manager 19.80% Financial managers 6.16% Claims adjusters, examiners, and investigators -3.24% Management analysts -2.03% Accountants and auditors % Insurance underwriters % Computer systems analysts -8.31% Legal occupations % Supervisors, sales workers -9.71% Insurance sales agents 14.43% Bookkeeping, accounting, and auditing clerks % Customer service representatives 2.29% Secretaries and administrative assistants % Insurance claims and policy processing clerks 0.09% Office clerks, general % Source: U.S. Insurance Industry Employment By Occupation Type 2008 to 2015, U.S. Bureau of Labor Statistics 2017 BIA/Kelsey. All Rights Reserved. 4

5 Sales Assessments Improve Sales & Retention Gallup researchers Brandon Rigoni, Ph.D., and Jim Asplund, writing in the Harvard Business Review in September 2016, identified seven positive organizational outcomes from periodically reviewing and reporting on individual performance. They include many outcomes that apply directly to sales improvement: 10% to 19% increase in sales 14% to 29% increase in profit 3% to 7% increase in customer engagement 9% to 15% increase in engaged employees 6% to 16% decrease in turnover (in low-turnover organizations) 26% to 72% decrease in turnover (in high-turnover organizations) 22% to 59% decrease in safety incidents 2017 BIA/Kelsey. All Rights Reserved. 5

6 What is a Sales Enablement Platform? Definition: An integrated set of services for sales management, including reporting, sales team assessment, communications and recruitment tools. Where does it run? Services may be run in on-premises and cloud settings. Standards are important. It is critical that tools share common definitions of data fields and workflows to ensure that combined data produces accurate insights for managers. Work with your IT staff to develop definitions as you start the project BIA/Kelsey. All Rights Reserved. 6

7 What is a Sales Enablement Platform? What does Sales Enablement help managers achieve? Improved Communication Better goal-setting and tracking End-to-end staff engagement tools, from pre-hire to departure from the company Provides tools for better training and professional development experience among sales staff How much does it save? Based on the average 2016 salary for a senior media sales associate, according to Salary.com, was $87,134. Replacing a salesperson can cost up to 180 percent of a full-time sales associate. By keeping successful salespeople on board, a company can save as much as $100,000 per position in hiring and training expenses BIA/Kelsey. All Rights Reserved. 7

8 Sales Enablement Feature Set Look for the following capabilities in sales enablement services: Team Management Portal Impact Ranking System Sales/CRM Backend Integration Dynamic Web-Based Dashboard Engagement Survey Builder Candidate Pipeline Management Managerial Coaching Planning Pre-Hire Assessment Tool Post-Hire Assessment Tool External Assessment Accessibility Team Management Portal Impact Ranking System 2017 BIA/Kelsey. All Rights Reserved. 8

9 What is the risk in potentially losing a good employee? How much does it cost you in real dollars to replace them? How do your clients react to getting a different sales rep? 9

10 How do you measure which managers are doing the best job in developing their talent? Can you identify the sales strengths, weaknesses and motivations of every one your sales reps? Why do employees typically leave your company voluntarily? WHAT ARE YOU DOING ABOUT IT? 10

11 Sales Enablement Sales Manager Enablement 11

12 Data-Driven Sales Manager Enablement DISCOVERY + DEVELOPMENT + ENGAGEMENT = RETENTION 12

13 DISCOVERY Reveal important things that may be keeping your reps from developing their full potential Personalize motivation, training, coaching and development Adapt responsibilities, workplace to strengths of your better employees Build more effective teams by spotting personality conflicts before they happen Determine who is a good long term fit, worth investment Identify best future job roles, responsibilities for each team member 13

14 Assessments Typically used by HR to screen candidates. Then filed away or shredded, never to be used again Should also be used to help manage, coach and develop employees to their highest potential Should also be used to evaluate and build effective work teams Should also be used to adapt communication, training for maximum effectiveness 14

15 Motivators Motivation is not always about money! Assessments, like DISC, predict HOW people will behave Motivators explains WHY people will behave in that way Favorite Things helps you motivate them with little unexpected rewards that are just for them 15

16 Aptitude Tests Sales IQ Plus reveals knowledge of the 8 needed skills of the sales process, based on 48 real-world scenarios Tech Aptitude reveals understanding of basic tech, effectiveness and how to use search+social to learn about a prospect 16

17 DEVELOPMENT Continuing sales training to keep our skills sharp is among the top 3 wish list items for reps in 2017 Many sales reps currently get coaching less than once/month 37% of Millennials 62% of previous generations Is what they re getting effective? 26% of Millennials say it has improved their win rates Only 15% for previous generations! 17

18 Impact Rankings Revenue is a lagging indicator Positivity, Work Ethic, Coachability and Drive today lead to results tomorrow Focuses managers on who their most value players are (based on their own KPIs) High performers can still have a negative impact on the team/organizational culture Move the middle for biggest increases 18

19 Coaching Planner Know Who to coach, What to coach them on, How to coach them. Personalizes your 1:1s for unique individual needs Keeps coaching from falling through the cracks Coaching Points based on Talent Insights revealed from Discovery and Impact Rankings 19

20 SMART Goals + OKRs Prescriptive goal setting using SMART goals or OKRs Set proper goals that are specific, measurable, timesensitive Use goal history for performance feedback, annual reviews Can greatly reduce time spent on status checks using a sales manager enablement platform 20

21 Personalized Training TeamKeeper Talent Insights map to e-learning Optimize your learning programs by identifying core competencies in need of improvement Benchmark sales skills against team, division and/or company Measure training impact with follow up Sales IQ Plus assessments 21

22 ENGAGEMENT 42% of sales managers say it s harder to motivate their staff than one year ago [1] More than 1/3 of reps have left a company because they didn t like the culture, purpose or values [2] 38% of Millennial reps have left because they didn t like the work environment or co-workers (28% for previous generations) [2] SOURCES: [1] 2016 State of Media Sales, MediaSalesToday.com [2] 2017 Voice of the Sales Rep, SalesFuel.com 22

23 Engagement Polls Weekly 1-question surveys deliver feedback from employees Starts with 30-question Culture Check baseline survey Learn how your team culture stacks up to national averages Anonymous polls measure cultural impact, chart trending over time Freeform questions deliver even deeper insight for each team member 23

24 Recognition Use the SalesFuel TV app, and more Sales Contests Goal Achievement Birthdays Work Anniversaries Promotions Customer Praise Daily Sales Tips SalesFuel TV app for Apple TV available now, feature scheduled to go live in March

25 Data-Driven Sales Manager Enablement More effective, engaged sales teams generate more revenue Not having to constantly replace salespeople reduces costs by hundreds of thousands of dollars per year Improve a rep, you improve one person Improve a manager, you improve their entire team Managers must keeps talent development top-of-mind, in one place Companies must hold managers accountable for development of their team members, reward those that do 25

26 Introducing Data-Driven Sales Manager Enablement Copyright 2017, SalesFuel, Inc. All rights reserved. SalesFuel.com TeamKeeper and SalesFuel are registered trademarks of SalesFuel, Inc.

27 Download Free Sales Enablement Report Learn How Data is Improving Sales Management Functions Report Explores: Today s changing sales team and the types of tools now needed to improve sales engagement and success. New software category of sales enablement platforms and how it is optimizing the tasks of hiring, reporting and management. Today s sales environment - where its critical salespeople are motivated, on-task and experts in their product/service category BIA/Kelsey. All Rights Reserved

28 Questions? 2015 BIA/Kelsey. All Rights Reserved. 28

29 Questions & Comments: Mitch Ratcliffe (703) BIA/Kelsey. All Rights Reserved. This published material is for internal client use only. It may not be duplicated or distributed in any manner not permitted by contract. Any unauthorized distribution could result in termination of the client relationship, fines and other civil or criminal penalties under federal law. BIA/Kelsey disclaims all warranties regarding the accuracy of the information herein and similarly disclaims any liability for direct, indirect or consequential damages that may result from the use or interpretation of this information.