Grow Your Pipeline and Revenue Through Sales Process and CRM

Grow Your Pipeline and Revenue Through Sales Process and CRM

Brought to you by:

Integrated Revenue Model Integrated Revenue Model

Top Issues Facing Top Issues Facing Marketing ExecutivesMarketing Executives

• To advertise or not to advertise – that is the question• Tighter budgets – do more with less• Hesitant buyers – waiting for the economy• Down staffed – less resource for doing the same work• Changing competitive landscape – “it used to work”• Changing media landscape – online? offline? social

media? • Stretched internal agendas – priorities spread thin• Stimulating customers – how to get more spend• Global issues – material costs up, client base held

ransom by foreign markets, unsteady currencies

Why Do I need a Sales Process?Why Do I need a Sales Process?

Top Issues Facing Top Issues Facing Sales ExecutivesSales Executives

• Lack of or a poorly defined sales process • Not enough activity – wrongly focused activities

leading to lack of productivity• Accurate forecasting/Failure to effectively forecast• New Sales– Market Share – Client retention• Penetration of existing clients - Market share• Effectively recruiting and hiring the right talent• Lack of essential skills – both at the sales rep level and

front-line sales managers• Client segmentation

Sales Performance Optimization – 2009 Survey Results and Analysis, CSO Insights Copyright © 2009 CSO Insights

Top Objectives for 2009Top Objectives for 2009CSO Insight Performance SurveyCSO Insight Performance Survey

Sales Process - OverviewSales Process - Overview

TargetsTargetsAssumes an 8:1 Conversion

128

1024

16

2

Top 1,000Identify Suspects

Focus 100Qualify as “prospects”

Focus 16Qualify as “opportunities”

T

5

Close

TargetsTargets

Phases:

1

2 – 3

4 – 5

6

“What’s in Your Pipeline?”

Prospect

Management Skills Luck

Plan – Action – MeasurePlan – Action – Measure

Plan Measure

Score Cards

TargetedImprovement

Metrics & Standards

Action

Review & Prioritize

Sales Relationship/Process (SRP) Matrix™ - 2009 SPO Survey Analysis

Sales Performance Optimization – 2009 Survey Results and Analysis, CSO Insights Copyright © 2009 CSO Insights

What is a Sales Process Worth?What is a Sales Process Worth?

“What’s in Your Pipeline?”

Identify SuspectsUnderstand

business driver: why buy?

Create value proposition: why

buy Your Company?

Present value proposition: why buy

now?

Reach agreement

and close

Confirm value proposition: why buy Your

Company?

Identify Suspects Qualify as Prospect CloseQualify Opportunities & Commitment

Your Company Your Company and Customer

Sales Process - Overview

EE EEDD GGEngageEngage DiscoveryDiscovery GainGain ExecuteExecute

Activity

Objectives

Tasks

Tools

Desired Outcomes

Go – No GONext Step

StalledStalledTime FrameTime Frame

• Identify industry issues / standards

• Assess company buying information

• Assess high level business needs

• Estimate product / solution match

• Make go /no go decision

• Determine business drivers

• Verify and determine buying information

• Formulate and document buying /selling plan

• Confirm buying / selling commitments

• Make go / no go decision

• Conduct initial interviews

• Hypothesise product / service opportunities

• Develop initial value proposition

• Make go / no go decision

• NEXT STEP

• Inform customer• Conducts follow

up interview• Review interview

finding with customer

• Begin contract compliance process

• Make go /no go decision

• NEXT STEP

• Prepare value proposition component

• Prepare solution component

• Prepare demo component

• Prepare integrated presentation/s

• Make presentation/s

• Assess customer reaction

• NEXT STEP

• Prepare and present proposal presentation

• Negotiate and agree upon terms and conditions

• Obtain signed contract and close

Identify SuspectsUnderstand

business driver: why buy?

Create value proposition: why

buy Your Company?

Present value proposition: why buy

now?

Reach agreement

and close

Confirm value proposition: why buy Your

Company?

Identify Suspects Qualify as Prospect CloseQualify Opportunities & Commitment

Your Company Your Company and Customer

Sales Process - Overview

EE EEDD GGEngageEngage DiscoveryDiscovery GainGain ExecuteExecute

Phase 1: Identify and Confirm SuspectsPhase 1: Identify and Confirm SuspectsActivity Objectives Tasks Tools Desired

Outcomes

•Identify Industry Issues / trends / standards

•Learn general industry trends•Identify potential points of pain, technology standards and business best practice

•Research and review available publications•Utilise web resources•Research other companies in industry that use Your Company products / solutions•Summarise findings

•Your Company (internal), Google etc

•Knowledge of relevant industry issues / trends / standards

•Assess company buying information

•Obtain account buying information:–Financial stability, decision makers, preferences, (board members, experience, alliances)

•Competitive presence•Current IT environment

•Use Your Company•Summarise findings

•Account history (as available)•Publications•Your Company (internal),

•Knowledge of companies financial stability•Decision makers, preferences, competitor preference

•Assess high level business needs

•Be able to summarise and prioritise stated business objectives•Map company position within industry (e.g. market leader)•Identify potential high level needs•Identify industry or specific pain points

•Review available literature and web pages on business/ financial objectives•Summarise companies top 10 suppliers and customers•Review market analysis on company performance•Conduct preliminary SWOT analysis to determine specific needs

•Account history as available•Publications•Your Company (internal),

•Understanding of high level business needs

•Estimate product / solution match

•Determine degree of fit•Identify preliminary scope of the solution

•Map needs to specific lines of business•Match appropriate Your Company products / solutions to each functional area

•High level of concept of technical fit and solution

•Make go /no go decision

•Assess opportunity based on the following criteria:financial stability, decision makers, Your Company relationship, competitor presence, current business/technology/KM fit.

•CRM??•Sales Manager

ObjectiveObjective: Identify and : Identify and initially qualify a potential initially qualify a potential opportunityopportunity

Implementation – Adherence Implementation – Adherence

In PracticeIn Practice

Process Objectives• Improve Current Sales Pipeline Process• Implement Changes Without Interruption• Improve Sales Tools for Management Level

Reports– Improved Territory Hierarchy Alignment

• Improve Tools for Account Reps– Sales Pipeline Understanding– Key Information Captured including “Compelling

Reason”– Key Steps and Dates Entered

Revised Pipeline – Funnel StagesRevised Pipeline – Funnel Stages

• Lead (Default Value When New Deal is Created)• Above the Funnel

– Inactive, Lead on Hold, Rep Assigned– ‘Warm Pre-appointment Leads” or “Qualified Lead”

• First Appointment Set– Compelling Reason - Unknown– Next Step [“Discover Appointment”] Determined and Date Set

• First Appointment Held (“Discover Appointment”)– Compelling Reason Defined – Required or Move to Unqualified– Next Step [….] Determined and Date Set if Qualified

• Stall – Compelling Reason Defined- Required– NO Next Step or Next Step Date

• Developing Proposal– Compelling Reason Defined - Required– Next Step [….] Determined and Date Set

• Present Proposal– Compelling Reason Defined -Required– Next Step [….] Determined and Date Set

• Negotiation– Compelling Reason Defined - Required– Next Step [....] Determined and Date Set

• Verbal– Compelling Reason Defined - Required– Next Step [….] Determined and Date Set

• Signed and Approved– Compelling Reason Defined – Required– Next Step [….] Determined and Date Set

In Funnel

Sold

Sales Stages and Sales Stages and Text DescriptionsText Descriptions

No longer use % of closed in stages.• Lead 0% Sales has identified or been assigned a prospect with demographics that appear to fit ACME’s customer profile.

• 1. Above the Funnel Lead 0% Sales has identified a prospect. Sales has identified a prospect. The prospect is considered a "Warm" or "semi-qualified" lead.

• 2. 1st Appt. Set Lead 0% First appointment has been set. The Prospects has not yet been qualified.

• 3. 1st Appt. Held Lead 0% First Appointment was held on a specific date. The Prospect was qualified to either move forward to next stage in sales funnel or moved back to "Lead Stage" as not qualified. The Prospects "Compelling Reason" has been identified, and a "Next Step" and date have been defined in this "Deal" record.

• 4. Develop Proposal Qualified 0% ACME AE is working on proposal, gathering vital information, meeting with vendors to present solution to Prospect in Sales Funnel. The Prospects "Compelling Reason" has been identified, and a "Next Step" and date have been defined in this "Deal" record.

• 5. Present Proposal Qualified 0% ACME AE has completed all work on solutions proposal and has held a sales presentation and present their findings to the Prospect. A decision by the Prospect is pending. The Prospects "Compelling Reason" has been identified, and a "Next Step" and date have been defined in this "Deal" record.

• 6. Negotiation Qualified 0% Proposal is presented and is under consideration. This stage is to be used as a place holder to alert ACME Sales management that their assistance may be needed to help close this Prospect. The Prospects "Compelling Reason" has been identified, and a "Next Step" and date have been defined in this "Deal" record.

• 7. Verbal Qualified 0% Verbal approval is obtained and the agreement is presented. Sales believe this prospect WILL contract with ACME in the current month. The date and time for the meeting to finalize the paperwork is established (in the current month).

• 8. Signed/Approved Closed 100% Customer has entered into a Service Agreement with ACME.

Next Step Next Step (Next Step Date required for each step)(Next Step Date required for each step)

• First Appointment Set– The first appointment has been set to meet with Prospect on a specific date

• Discovery Appointment (Actual First Appt. Attended)Meeting goal is to qualify for compelling events, decision making process, business issue’s, competition, application, time frame and budget. Next steps will be to expand information gathering or present a solution to prospect. If Prospect is not qualified, Prospect is set to that status and Pipeline ends.

• Application Development Meeting (Step in Larger Deals)– This meeting can start in the Discovery appointment and may require additional meetings in larger

multiple location or deal accounts. Meeting goal is to verify and qualifying information or validate opportunity and move deal to closure. Next steps will be to move for a decision in the opportunity

• Present Proposal Meeting– Final meeting to move for decision on ACME solution. Implementation plan, timeframe, final

hurdle/objection to closing opportunity should be defined. Deals should address all concerns and reason to change. Next Step will be to close for acceptance/verbal of proposal and signatures.

• Closing Appointment Meeting– Proposal has been accepted meeting to wrap up implementation. Next step signatures and ACME

approval and implementation. Sign Paperwork Meeting Included here.• Process Order (Only after Order Signed and Approved)

– This will be the next step after the Order has been signed and approved. This will be the last step in the Sales Pipeline.

Stalled Stage DefinedStalled Stage Defined

Prospects move to Stall by system when:• A prospect that is in the pipeline that has a “Compelling

Reason”, but no “Next Step” regardless of the Pipeline Stage.• What to Enter in the Pipeline Stage:

• Deal Stage should be set to ‘Stalled” immediately if no confirmed next step is gained at last meeting.

• If more than 14 days between last meeting and “Next Step” deal should be set to “Stalled” stage.

• If Current date is more than 45 days after “First Appointment” deal should be set to “Stalled” stage.

Sales Performance Optimization – 2009 Survey Results and Analysis, CSO Insights Copyright © 2009 CSO Insights

CRM: The Enabling TechnologyCRM: The Enabling Technology

Five Winning CRM Strategies that will turn a down economy into an opportunity to grow:

• Focus on existing customers.– Retain the right customers.– Maximize customer profitability.

• Maximize Revenue Opportunities.– Evaluate the Marketing Mix.– Re-Prioritize Sales Investments

• Do more with less.– Streamline Business Processes.– Improve Personal Productivity.

• Reduce Operational Costs.– Right-Size Service Costs.– Reduce costs through Consolidation

• Optimize Existing IT Assets.– Maximize the value of existing systems.– Maximize Microsoft Investments

“If there is one technology area where you should increase your investment today {In these uncertain economic times}, it’s CRM.” (Nucleus Research 2008)

Source: CRM: The winning strategy in a challenging economy – Microsoft Corporation

Sales Performance Optimization – 2009 Survey Results and Analysis, CSO Insights Copyright © 2009 CSO Insights

Scenario 1: New Customer Growth

Phase 1 – Generate Revenue: Fill The Pipeline

Utilize integrated marketing to attract prospective new customers

Use social media and CRM for developing and qualifying leads

Turn qualified leads over to sales via CRM for action

Phase 2 – Integrated Sales Process In Motion: Working The Pipeline

Utilize CRM for managing leads and conversion to sales process

Support sales with nurture marketing

Phase 3 – Market To New Customers and Dormant Leads: Nurture The Pipeline

Continue building prospect potential

Join Our Communities

Twitter Our Blog

Linkedin Facebook

Integrated Marketing Strength – Incorporate Social Networks

Ads, tradeshows, feature sheets, swag, website, any promotional materials

Bring offline to online communities

Visibility of social networks enables extended advertising

Drive traffic to social networks, or Direct traffic to a single landing page Building a centralized database is critical

to managing a regular feed of contacts for the future pipeline

Build A Pipeline Focused DatabaseFit Into Your Customers’ World

Some of the more popular options for building interactive communities are

Twitter – micro blogging Blogging – think ads, not essays LinkedIn – B2B related Facebook – casual communities

Objectives: Collect emails and see profiles Interact – clicks and comments Be clear on conversion model

Social Networks

Twitter

Our Blog

LinkedIn

Follow us for product promotions, service updates, our latest industry news and much more. We are here to serve, tweet us.

Get RSS (Real Simple Syndication) updates from our blogs. Tell uswhat you think about what we publish and how we can improve. Share your views on what stories we should feature.

Facebook

Connect with Hewlett Packard employees, suppliers and other customers. See what the LinkedIn community is buzzing about.

For Hewlett Packard enthusiasts who want to share their latest wins and discoveries within the HP Facebook community.

Back End Newsletter Back End Newsletter TrackingTracking

Create Regular Visibility Be Out There While Competition Sleeps

Offline results in action or no action: 1% - 30% response rates

Offline leads go into CRM too

Social networks don’t have materials costs Delivery can be (nearly) immediate Online pre-advertising can bolster offline Think minimum $10-$20 per visitor Enables frequency of contact without cost

CRM incorporates the marketing campaign calendar and captures all

CRM Campaign Management CRM Campaign Management

Lead Assigned to SalesLead Assigned to Sales

Assumption of SalesAssumption of Sales

Sales Cycle: 3 Months 4 -5 MeetingsE = 1 WeekD = 6 – 8 WeeksG = 2 – 3 WeeksE = 1 – 2 WeeksSystem moves Opportunity to Stall when:

– No Next Steps – 21 days between meetings– Opportunity is older than 90 days

System move forward based on rules, probabilities out of sales peoples’ handNo proposal unless:Credit Application submitted DeliverableDecision Maker Verified BudgetTime line/ compelling event Site Survey

Lead ResultLead Result

• Lead Must Be contact within 48 hours of being assigned• Two potential outcomes

1. Converted to Opportunity – goes through to close2. Not converted to Opportunity – Classified:

A. DeadB. Lead > Back to nurturing process

Determine Qualifying Tiers

To maximize lead generation and quality leads marketing prequalifies

Use cookies or custom urls to track

Once a pre-set number of ‘hits’ are accumulated, “reach out” via:

Survey; Register for special offer; Invite to event; White paper, etc.

Build up profile to send as a prequalified lead to sales

Cont

act

Dat

abas

eCo

ntac

t D

atab

ase

Offe

r or

Info

rmati

onO

ffer o

r In

form

ation

Trac

k Re

spon

seTr

ack

Resp

onse

Marketing Support during Opportunity Conversion

Scenario 2: Growing The Existing Customer Base

Phase 1 – Generate Increased Revenue: What’s In The Internal Pipeline

Conduct analysis of existing customers: spend, product lines, profitability

Define targeted messages: what needs are not being met, buying triggers

Use offline marketing, social media and CRM for developing and qualifying leads

Turn qualified leads over to sales via CRM for action

Repeat Previous Stages – Use The Processes In PlacePhase 2 – Integrated Sales Process In Motion: Working The Internal Pipeline

Utilize CRM for managing leads and conversion to sales process Support sales with nurture marketing

Phase 3 – Market To New Customers and Dormant Leads: Nurture The Internal Pipeline• Continue building prospect potential

Internal Analysis20-50% more growth in 80% untapped

Go back to basics, what is the ideal revenue and product line model

Use CRM to pull data in combination

with inventory and financial systems

Understand the gap Define the strategies 1st turnaround marketing 2nd proactive targeted drip marketing

Clie

nt S

pend

/Pr

oduc

t Lin

e D

istr

ibuti

on

Revenue Per Account/Client Profitability

“20% = 80%”

Target

80%

effo

rt

How To Engage?Find A Cause Versus Campaign

What are the deeper issues “Out with the old 2009” What the customer’s problems How can we engage again How is the customer buying now What does partnership mean Treat customers like they’re new

Approaches To Advance LeadsDetermine Qualifying Tiers

To maximize lead generation and quality leads marketing prequalifies

Use cookies or custom urls to track

Once a pre-set number of ‘hits’ are accumulated, “reach out” via:

Survey; Register for special offer; Invite to event; White paper, etc.

Build up a prospect profile to send as a prequalified lead to sales

Mar

ket t

o Pr

ospe

cts

Mar

ket t

o Pr

ospe

cts

Offe

r or

Info

rmati

onO

ffer o

r In

form

ation

Trac

k Re

spon

seTr

ack

Resp

onse

Approaches To Advance LeadsDetermine Qualifying Tiers

To maximize lead generation and quality leads marketing prequalifies

Use cookies or custom urls to track

Once a pre-set number of ‘hits’ are accumulated, “reach out” via:

Survey; Register for special offer; Invite to event; White paper, etc.

Build up a prospect profile to send as a prequalified lead to sales

Mar

ket t

o Pr

ospe

cts

Mar

ket t

o Pr

ospe

cts

Offe

r or

Info

rmati

onO

ffer o

r In

form

ation

Trac

k Re

spon

seTr

ack

Resp

onse

Wrap –upQuestion and Answer