7 Essential Tips to Boost Sales Results in 2013 Sponsored by:
Oct 19, 2014
7 Essential Tips to Boost Sales Results
in 2013
Sponsored by:
#CRM2013
– Market leader in intelligent sales software
– Sales automation + integrated dialer + conversion insights
– Help you boost revenue and productivity
– Integrated with leading CRMs & third party solutions
– One of the nation’s fastest growing tech co’s
About Leads360
John Reese VP Marketing, Leads360 @Leads360
#CRM2013
About the Research Findings3
Top Performers: Respondents that achieved Top Quartile performance in key KPI’s
Everyone Else: Everyone Else
REVENUEROMICONVERSION RATE
Performance in:
TODAY’S STATS Total survey responses: 1045
2012 iCRMAug. 2012
n= 198
State of Digital
EngagementSept. 2012
n= 847
#CRM2013
• Challenges with CRM
• 7 Tips Based on Top Performers
• Scorecard to Identify Low Hanging Fruit
4
Agenda
#CRM2013 5
Top Challenges with CRM in 2012
Modifying the platform to fit the company's sales process
Integrating the platform with other company sales and
marketing software/systems
Ensuring data credibility
Driving sale personnel adoption
47%
52%
64%
78%
Top Challenges in 2012
Top Performers
* 2012 iCRM Survey n= 198
#CRM2013
7 Sales Optimization Resolutions for 2013
#CRM2013
Scorecard for Low Hanging Fruit
1 2 3 4 5
1. Value Added Engagement
2. Understanding the Customer Lifecycle
3. CRM Addresses Early Stage Engagement 4. Understanding Enabling Technologies
5. Plug the Holes in the Pipeline
6. Automate Measurement and Metrics
7. Link Process to Desired Outcomes
Sales Resolutions for 2013RANKING
#CRM2013
How Does your organization
currently rank?
1 = Needs a lot of work. 5= We’re doing pretty good.
9
DEAL WITH THIS
Customers are in control.
#CRM2013 10
Sales Acquisition Processes Have Changed
SALESPERSONDECISION MAKERS
1 TO MANY DIALOG
#CRM2013 11
SALESPERSONDECISION MAKERS
1 TO MANY DIALOG
SALESPERSONDECISION MAKERS
1:1 CONVERSATIONS HAPPY / UNHAPPY CUSTOMERS
COLLEAGUES
FRIENDS / FAMILY
COMPETITORS
Sales Acquisition Processes Have Changed
#CRM2013
Shifting Consumer Demographics
Need Visibility into Customer Behavior
Managing Communication Fatigue
Compelling & Personal Reasons to Reach Out
Emerging Channels
Automated Alerts
#CRM2013
In your opinion, has Social Media impacted your sales process?
13
Social + CRM = Not Disruptive to Sales Process
Can't Say
Not at All
Somewhat
Significantly
0% 10% 20% 30% 40%
19%
35%
34%
12%
* Gleanster iCRM Survey September 2012, Title: Sales
#CRM2013
Do you use social media to monitor or keep in touch with prospects and customers?
14
* Gleanster iCRM Survey September 2011, Title: Sales
89%
11%
Title: Sales
YesNo
But… Social Media is Widely Adopted by Sales
#CRM2013
Implications: Value Added Engagement
Engage
Enrich
Enterta
in
• Earn a conversation• Tailor messaging• Educate buyers• Trusted advisor
• Targeted• Personalized• Intimate
• Humor• Emotion
Marketing Sales Service
#CRM2013
• Monitor the web to inject yourself into critical conversations.– Use Google News Alerts to trigger better conversations with your accounts– Answers on LinkedIn Q&A could be referenced years later
• Earn a conversation with prospects– Answer questions online– Use social media to learn about prospects– Develop target personas
• Top Performers automate engagement with nurturing and scoring to flow educated and qualified opportunities to the sales team– Quantify and share what defines a “good” sales conversation
Implications: Value Added Engagement
17
RANK IT!!!
Customers are in control.
1 2 3 4 5
1. Value Added Engagement
1 = Needs a lot of work. 5= We’re doing pretty good.
18
DEAL WITH THIS
Is the Customer Lifecycle
understood?
#CRM2013 19
Lead Generation Classifications
Leads Prospects Customers
An inquiry into a product, a potential prospect.
Expressed interest in solving a problem.
A qualified decision making individual with budget and authority to influence a sale.
A person or organization that has purchased goods or services.
Will your definition be the same as resources in Marketing or Customer
Service?
#CRM2013
Customer Lifecycle Documented?
Sales has formal understanding of the cus...0%
10%
20%
30%
40%
50%
60%
70%
80%68%
23%
Top Performers Everyone Else
* 2012 iCRM Survey n= 198
Top Performers Everyone Else
#CRM2013 21
Mapped to the Customer Lifecycle
Buying Cycle Sales Cycle
Service
Customer Lifecycle
Leads Prospects Customers
#CRM2013 22
Buying Cycle vs. Sales Cycle
Buying Cycle Sales Cycle
ServiceCustomer Lifecycle
Leads Prospects Customers
When the prospect purchases they become a customer , requiring ongoing service and support. Customers can also be nurtured to encourage up-selling and cross-selling.
Marketing Qualified Leads (MQL).
Inquiry.(Unknown buying intent)
Sales Accepted Lead (SAL)= Prospect
Sales Qualified Lead (SQL) = Valid Opportunity
#CRM2013
Implications: Document & Educate
1. Engage your target audience differently at different stages in the customer lifecycle
2. Sales needs visibility into what stage contacts might be in (within CRM).
3. Alert Sales of relevant changes in behavior (automate and standardize with technology) Lead Routing Lead Alerts
24
RANK IT!!!
Is the Customer Lifecycle
understood?
1 2 3 4 52. Understanding the Customer Lifecycle
1 = Needs a lot of work. 5= We’re doing pretty good.
25
DEAL WITH THIS
CRM Technology
Doesn’t Always Address
“Customer Relationship
Management”
#CRM2013
• CRM isn’t one size fits all
• Does CRM really meet the needs of your entire sales team?
• How much should it be customized?
26
Sales Engagement
#CRM2013
Embrace the Differences
27
Inside Sales
• Rapid turnaround
• Numbers game• Key– Productivity– Discipline– Consistency–Measurement
Enterprise Sales
• Working leads for months or years
• Handful of opportunities
• Key– Relationships– Often face-to-
face
#CRM2013
Top Performers Use CRM &…
Enterprise Sales Contact Management Account Management Territory Management Opportunity Management A Few Quality Leads
Inside Sales Contact Management Account Management Territory Management Opportunity Management High Volume of Leads Lead Routing Prescriptive Selling Call Scripts Workflow Telephony Integration
CRM Technology CRM Technology + …
#CRM2013 29
Managing the Customer Experience
CUSTOMERS• Quality products & services• Drive up-selling• Drive cross-selling• Drive advocacy• Drive lifetime customer value
PROSPECTS• Educate• Advise• Build Trust
Marketing Technology
SFA & CRM
Sales Optimization
Finance & ERP
Customer Service
#CRM2013
• Does CRM really address the inside sales process?– Remove the guesswork – add metrics that matter
• Contact Rate/Ratio, % of Correct Contacts
– Make optimal processes consistent and efficient– Reduce time spent trying to figure out who to call
• How is CRM being used at your organization?– Capturing too much information– Capturing information that could be used against sales– Customized to augment sales processes
Implications
31
RANK IT!!!
CRM Technology
Doesn’t Always Address
“Customer Relationship
Management”
1 2 3 4 53. CRM Addresses Early Stage Engagement
1 = Needs a lot of work. 5= We’re doing pretty good.
32
DEAL WITH THIS
The Sales Technology
Landscape is a Mystery
#CRM2013 33
Deliver a Consistent Customer Experience
Top 3 ChallengeIntegrating CRM with other company sales and marketing
Contact
Pipeline
FCST
Opportunity
MARKETING
SALES
SERVICE
CRMCustomer Relationship Management
=Lots of different technologies!
#CRM2013 34
Technology Enablers
CRM
EMAIL MARKETIN
G
WEB ANALYTIC
S
LANDING PAGES
MARKETING AUTOMATION
DIRECT MAIL
FULFILLMENT
DIGITAL SIGNAGE
MOBILE MARKETING
DATA WAREHOU
SE
BUSINESS INTELLIGENCE
SOLUTION
*58%
*38% *29%
*46%
*Percentage of Top Performers that integrate technology with CRM
WEB CONTENT MANAGEMENT
DIGITAL SIGNAGE
DIGITAL ASSET MANAGEMENT
Other Channels (Less frequently integrated)
#CRM2013
Making Sense of Technologies
#CRM2013
Sales Technology Value Chain
Sales Technology Landscapes?
#CRM2013
Sales Technology Value Chain
Sales Technology Landscape?
Marketing
Sales
Service
#CRM2013
Sales Technology Categories
SALES EFFECTIVENESS
SALES ENABLEMENT
SALES PERFORMANCEMANAGEMENT
Configure Price Quote
Sales Analytics
Sales Optimizati
on
Sales Intelligenc
eLearning
MgmtSales
CoachingIncentive
Comp.Mgmt
Talent Mgmt
MA
RK
ETIN
G
CU
STO
ME
R S
ER
VIC
E
Salesforce Automation
Customer Relationship Management
Sales Portal
#CRM2013
• Today, CRM alone can’t support the customer experience.
• Technology exists to make best practices repeatable and templatized- use it!
• On-Demand makes all sales technology accessible and affordable for any size organization.
Implications
40
RANK IT!!!
The Sales Technology
Landscape is a Mystery
1 2 3 4 54. Understanding Enabling Technologies
1 = Needs a lot of work. 5= We’re doing pretty good.
41
DEAL WITH THIS
Opportunities are slipping
through the pipeline
42
50% of leads will not buy in the short-term but are likely to buy in
the future.
#CRM2013 43
Use of Lead Nurturing
61% 39
%
Top PerformersEveryone Else
22%
78%
Using Lead NurturingNot Using Lead Nurturing
#CRM2013
• Top Performers are 8x more likely than Everyone Else to allow salespeople to route leads back to nurture marketing campaigns from within CRM.– BUT, only 19% of Top Performers had this ability
Engage all opportunities
Sales Qualified opportunitiesnot yet ready to buy.$ $$
$
$ $
#CRM2013
• Look for opportunities to plug the holes in the pipeline – particularly in inside sales– Empower sales to send templated marketing emails
(that can be customized)
• Focus on cross-selling and up-selling the same way you focus on customer acquisition as an organization– The key to successful inside sales is “relationships”
Implications
46
RANK IT!!
Opportunities are slipping
through the pipeline
1 2 3 4 5
5. Plug the Holes in the Pipeline
1 = Needs a lot of work. 5= We’re doing pretty good.
47
DEAL WITH THIS
Automate
Measurement
and
Metrics
#CRM2013 48
Most Popular Metrics for Measuring CRM
Book to Bill Ratio
Average Deal Size
System Usage
Win / Loss % by Rep
Actual vs. Forecasted Revenue
Annual Revenue
48%
58%
65%
67%
82%
85%
Metrics Used to Measure Success (Top Performers)
Top Performers
* 2012 iCRM Survey n= 198
#CRM2013
• 8 out of 10 Top Performers rely exclusively on CRM or Analytics Dashboards for calculating metrics– Spreadsheets aren’t scalable– Must standardize calculation
• Benchmark performance over time
• Minimize system customizations
Best Practices
#CRM2013
Automation “non-traditional” but critical to performance:• Speed-to-Call• Speed-to-Contact• Contact rate• Qualification rate• Conversion rate• Call volume• Average call time• Lead status• Average sales cycle
Automate these metrics in periodic dashboards
Implications
51
RANK IT!!!
Automate
Measurement
and
Metrics
1 2 3 4 5
6. Automate Measurement and Metrics
1 = Needs a lot of work. 5= We’re doing pretty good.
52
DEAL WITH THIS
Processes don’t map
to results.
Garbage in, garbage out
#CRM2013
• Modify the platform to fit the companies sales process?
• Modify the sales process to fit the platform?
Top 10 Challenges
#CRM2013
• Results are a byproduct of processes
• Top Performers rank process optimization and revision as a top value driver for success.
Focus on Processes Lead to Desired Results
Execution &
Measurement
Process
Desired Result
#CRM2013
• Did your organization change process to fit with the CRM tool? Is that working?
• Are there legacy processes that no longer add value internally?
• Does lack of integration with other systems impede results?– Look at the flow of information – or lack there of…
Implications
56
RANK IT!!!
Processes don’t map
to results.
Garbage in, garbage out
1 2 3 4 5
7. Link Process to Desired Outcomes
1 = Needs a lot of work. 5= We’re doing pretty good.
#CRM2013
Key Takeaways: Things to do… TODAY!
1 2 3 4 5
1. Value Added Engagement
2. Understanding the Customer Lifecycle
3. CRM Addresses Early Stage Engagement 4. Understanding Enabling Technologies
5. Plug the Holes in the Pipeline
6. Automate Measurement and Metrics
7. Link Process to Desired Outcomes
Sales Resolutions for 2013RANKING
#CRM2013
Additional Resources on the Topic
Deep DiveHow Top Performing Sales Leaders Overcome a Stagnating
Pipeline: Why your CRM investments might be producing diminishing returns.
(January 2013)
All registered attendees will receive a complimentary copy via Leads360!
#CRM2013 59
More Resources on www.gleanster.com
• 1000s of Resources
• Videos
• Webinars & Events
• Social Media Feeds
• Vendor Profiles
• Analyst Commentary
• Solution Reviews