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7 Essential Tips to Boost Sales Results in 2013
The document outlines seven essential tips for enhancing sales results in 2013, emphasizing the importance of understanding customer lifecycles and integrating technology within CRM systems. Key challenges highlighted include personnel adoption of CRM systems and the need for data credibility and integration with other sales and marketing platforms. The content is based on research findings from top-performing sales organizations and includes actionable strategies for improving sales performance.
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7 Essential Tips to Boost Sales Results in 2013
- 1. Sponsored by: 7 Essential Tips to Boost Sales Results in 2013
- 2. About Leads360 –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 John Reese VP Marketing, Leads360 – One of the nation’s fastest growing tech co’s @Leads360 #CRM2013
- 3. 3 About the ResearchFindings Top Performers: Respondents that achieved Top Quartile performance in key KPI’s Everyone Else: Everyone Else TODAY’S STATS Total survey responses: 1045 2012 iCRM State of Digital Aug. 2012 Engagement n= 198 Sept. 2012 n= 847 Performance in: REVENUE ROMI CONVERSION RATE #CRM2013
- 4. Agenda • Challenges withCRM • 7 Tips Based on Top Performers • Scorecard to Identify Low Hanging Fruit #CRM2013 4
- 5. Top Challenges withCRM in 2012 Top Challenges in 2012 Top Performers Driving sale personnel adoption 78% Ensuring data credibility 64% Integrating the platform with other company sales and 52% marketing software/systems Modifying the platform to fit the 47% company's sales process * 2012 iCRM Survey n= 198 #CRM2013 5
- 6. 7 Sales OptimizationResolutions for 2013 #CRM2013
- 7. Scorecard for LowHanging Fruit Sales Resolutions for 2013 RANKING 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 #CRM2013
- 8. How Does your organizationcurrently rank? 1 = Needs a lot of work. 5= We’re doing pretty good. #CRM2013
- 9.
- 10. Sales Acquisition ProcessesHave Changed 1 TO MANY DIALOG SALESPERSON DECISION MAKERS #CRM2013 10
- 11. Sales Acquisition ProcessesHave Changed 1 TO MANY DIALOG 1:1 CONVERSATIONS HAPPY / UNHAPPY CUSTOMERS SALESPERSON DECISION MAKERSSALESPERSON DECISION MAKERS COLLEAGUES FRIENDS / FAMILY COMPETITORS #CRM2013 11
- 12. Shifting Consumer Demographics Need Visibility into Customer Behavior Managing Communication Fatigue Compelling & Personal Reasons to Reach Out Emerging Channels Automated Alerts #CRM2013
- 13. Social + CRM= Not Disruptive to Sales Process In your opinion, has Social Media impacted your sales process? Significantly 12% Somewhat 34% Not at All 35% Can't Say 19% 0% 10% 20% 30% 40% * Gleanster iCRM Survey September 2012, Title: Sal #CRM2013 13
- 14. But… Social Mediais Widely Adopted by Sales Do you use social media to monitor or keep in touch with prospects and customers? Title: Sales 11% Yes No 89% * Gleanster iCRM Survey September 2011, Title: Sal #CRM2013 14
- 15. Implications: Value AddedEngagement Marketing Sales Service • Humor Entertain • Emotion • Targeted • Personalized • Intimate Enrich • Earn a conversation Engage • Tailor messaging • Educate buyers • Trusted advisor #CRM2013
- 16. Implications: Value AddedEngagement • 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 #CRM2013
- 17. 1 2 3 4 5 1. Value Added Engagement 1 = Needs a lot of work. 5= We’re doing pretty good. 17
- 18.
- 19. Lead Generation Classifications Leads Prospects Customers An inquiry into a A qualified A person or product, a decision making organization that potential individual with has purchased prospect. budget and goods or authority to services. Expressed influence a sale. interest in solving a problem. Will your definition be the same as resources in Marketing or Customer Service? #CRM2013 19
- 20. Customer Lifecycle Documented? 80% 70% 68% 60% 50% 40% 30% 23% 20% 10% Top Performers Everyone Else 0% Sales has formal understanding of the customer journey - Marketing, Sales, Service (Yes) Top Performers Everyone Else * 2012 iCRM Survey n= 198 #CRM2013
- 21. Mapped to theCustomer Lifecycle Leads Prospects Customers Customer Lifecycle Buying Cycle Sales Cycle Service #CRM2013 21
- 22. Buying Cycle vs.Sales Cycle Customer Lifecycle Buying Cycle Sales Cycle Service When the prospect Inquiry. Sales Accepted Lead (SAL) purchases they become a (Unknown buying intent) = Prospect customer , requiring ongoing service and support. Customers can Marketing Qualified Leads Sales Qualified Lead also be nurtured to (MQL). (SQL) = Valid Opportunity encourage up-selling and cross-selling. Leads Prospects Customers #CRM2013 22
- 23. 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 #CRM2013
- 24. 1 2 3 4 5 2. Understanding the Customer Lifecycle 1 = Needs a lot of work. 5= We’re doing pretty good. 24
- 25.
- 26. Sales Engagement • CRMisn’t one size fits all • Does CRM really meet the needs of your entire sales team? • How much should it be customized? #CRM2013 26
- 27. Embrace the Differences Inside Sales Enterprise Sales • Rapid turnaround • Working leads for • Numbers game months or years • Key • Handful of – Productivity opportunities – Discipline • Key – Consistency – Relationships – Measurement – Often face-to-face 27 #CRM2013
- 28. Top Performers UseCRM &… CRM Technology CRM Technology + … Enterprise Sales Inside Sales Contact Management Contact Management Account Management Account Management Territory Management Territory Management Opportunity Management Opportunity Management A Few Quality Leads High Volume of Leads Lead Routing Prescriptive Selling Call Scripts Workflow Telephony Integration #CRM2013
- 29. Managing the CustomerExperience PROSPECTS Marketing • Educate Technology • Advise • Build Trust SFA & CRM Sales Optimization CUSTOMERS • Quality products & services • Drive up-selling Finance & ERP • Drive cross-selling • Drive advocacy • Drive lifetime customer value Customer Service #CRM2013 29
- 30. Implications • Does CRMreally 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 #CRM2013
- 31. 1 2 3 4 5 3. CRM Addresses Early Stage Engagement 1 = Needs a lot of work. 5= We’re doing pretty good. 31
- 32.
- 33. Deliver a ConsistentCustomer Experience Top 3 Challenge Integrating CRM with other company sales and marketing MARKETING Lots of different SALES Contact = technologies! Opportunity Pipeline SERVICE FCST CRM Customer Relationship Management #CRM2013 33
- 34. Technology Enablers *38% *29% *Percentage of Top Performers that integrate technology with CRM *58% *46% DATA WAREHOUS E Other Channels (Less frequently integrated) DIRECT MAIL DIGITAL SIGNAGE MOBILE BUSINESS FULFILLMENT INTELLIGENCE MARKETING SOLUTION DIGITAL SIGNAGE WEB CONTENT MANAGEMENT DIGITAL ASSET MANAGEMENT #CRM2013 34
- 35. Making Sense ofTechnologies #CRM2013
- 36. Sales Technology ValueChain Sales Technology Landscapes? #CRM2013
- 37. Sales Technology ValueChain Sales Technology Landscape? Sales Marketing Service #CRM2013
- 38. Sales Technology Categories CUSTOMER SERVICE Customer Relationship Management MARKETING Salesforce Automation SALES SALES SALES EFFECTIVENESS ENABLEMENT PERFORMANCE MANAGEMENT Configure Sales Price Quote Intelligence Learning Sales Incentive Mgmt Coaching Talent Sales Sales Comp. Mgmt Analytics Optimization Sales Portal Mgmt #CRM2013
- 39. Implications • Today, CRMalone 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. #CRM2013
- 40. 1 2 3 4 5 4. Understanding Enabling Technologies 1 = Needs a lot of work. 5= We’re doing pretty good. 40
- 41.
- 42. 50% of leadswill not buy in the short-term but are likely to buy in the future. 42
- 43. Use of LeadNurturing Using Lead Nurturing Not Using Lead Nurturing Top Performers Everyone Else 78% 22% 61% 39% #CRM2013 43
- 44. Engage all opportunities •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 $ $ $ Sales Qualified opportunities not yet ready to buy. $ $ $ #CRM2013
- 45. Implications • Look foropportunities 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” #CRM2013
- 46. 1 2 3 4 5 5. Plug the Holes in the Pipeline 1 = Needs a lot of work. 5= We’re doing pretty good. 46
- 47.
- 48. Most Popular Metricsfor Measuring CRM Metrics Used to Measure Success (Top Performers) Top Performers Annual Revenue 85% Actual vs. Forecasted Revenue 82% Win / Loss % by Rep 67% System Usage 65% Average Deal Size 58% Book to Bill Ratio 48% * 2012 iCRM Survey n= 198 #CRM2013 48
- 49. Best Practices • 8out 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 #CRM2013
- 50. Implications Automation “non-traditional” butcritical 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 #CRM2013
- 51. 1 2 3 4 5 6. Automate Measurement and Metrics 1 = Needs a lot of work. 5= We’re doing pretty good. 51
- 52.
- 53. Top 10 Challenges •Modify the platform to fit the companies sales process? • Modify the sales process to fit the platform? #CRM2013
- 54. Focus on ProcessesLead to Desired Results • Results are a byproduct of processes • Top Performers rank process optimization and revision as a top value driver for success. Execution & Measurement Process Desired Result #CRM2013
- 55. Implications • Did yourorganization 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… #CRM2013
- 56. 1 2 3 4 5 7. Link Process to Desired Outcomes 1 = Needs a lot of work. 5= We’re doing pretty good. 56
- 57. Key Takeaways: Thingsto do… TODAY! Sales Resolutions for 2013 RANKING 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 #CRM2013
- 58. Additional Resources onthe Topic Deep Dive How 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 onwww.gleanster.com • 1000s of Resources • Videos • Webinars & Events • Social Media Feeds • Vendor Profiles • Analyst Commentary • Solution Reviews #CRM2013 59
Editor's Notes
- #28 Inside SalesHigh-touch, phone based B2B and B2C sellingRemote or Virtual SalesIndirect SalesChannel SalesThe term “Inside Sales” originally came about in the late 1980s as an attempt to differentiate “Telemarketing” (or “Telesales in the UK) from the more complex, “high-touch,” phone-based business-to-business (B2B) and business-to-consumer (B2C) selling practices.
- #44 The vast majority of organizations have yet to utilize lead nurturing. Most of the companies that use Lead Nurturing are Top Performers Over a third of companies are not top performers and still utilize lead nurturing, suggesting they may be able to optimize existing nurture campaigns to extract more value from lead nurturing