Embed Size (px)
DESCRIPTION
With many organizations anticipating to hire more sales reps in 2014, its more important than ever to bring those new reps to productivity faster. Sales forces too often adopt a "sink or swim" approach to new salesperson success - accompanied by management's grudging acknowledgement that new salesperson turnover will be forever high. In this webinar, you will learn: - Important elements of effective onboarding approaches - Structured, tested approaches that work - How to shift the onboarding process to a strategic, productivity asset
Citation preview
1
Accelerating New Sales Hire Ramp UpStrategies & Best Practices
Agenda
• Top Challenges Facing Sales Organizations • Growing Sales Organizations • Today’s Selling Environment & The Gap in Sales Execution • Why Organizations Struggle With Sales Ramp Up• Areas for Improvement • Conclusions
2
Top Challenges Facing Sales Organizations
3
13% Unadaptable Sales Process
16% Poor Sales & Marketing Alignment
20% Difficulty
Establishing ROI
24% Common Sales Process Across Organization
33% Difficulty
Presenting Differentiation
33% Sales Cycles
Too Long
Executive Management Viewpoint
4
Shortening sales cycles
Greater visibility
Increasing deal sizes
Improving overall quota attainment
Increasing win rates
0 10 20 30 40 50 60 70 80 90 100
Most Important to Executive Management
2014
94%
87%
83%
82%
75%
Top Sales Objectives
5
Increase reorder & renewal rates
Reduce ramp-up time for new sales people
Reduce sell cycle time
Optimize deal size via up-selling & cross-selling
Improve customer loyalty & satisfaction
Increase sales effectiveness & performance
Increase penetration into existing accounts
Capture new accounts
0 10 20 30 40 50 60 70
Top Sales Objectives for 2014
2014
58%
#2 Increase
Penetration into Existing
Accounts
#1 Capture New
Accounts
46%
25%
20%
20%
14%
7%
6%
Polling Question
How much do you expect to grow your sales organization this year?
Not at All
Less Than 10%
Between 10%-30%
Greater than 30%
A.
B.
C.
D.
Slide 6
7
plan to expand sales team
between 10%-30%
Growing Sales Organizations Key Priority
Challenges and obstacles for ramping new sales teams:• 87% of training is forgotten within
weeks when not embedded in selling process• 58% of new sales rep time is spent
not selling
29%
7-12 months to effectively
onboard new reps
40%
The Complicated Selling Environment
60%
of buyer’s journey completed before ever interacting with sales
90%
Selling content is never used in selling because sales can’t find the right
resources
58%
Pipeline ends up in “no decision” (stalled) because value has not
been effectively presented
88%
of missed opportunities were because sales
couldn’t find resources
8
Sales process not adaptable
Lack of alignment to buyer stages
Salesforce not agile
enoughInconsistent sales
methodologies
x
misaligned to buyer stages not presenting right value can’t find resources poor performance
The Gap in Sales Execution
9
Strategy
Sales Execution
The Gap in Sales Execution
10
Strategy
Sales Execution
• Buyers more savvy• Sales process more complex• Reps have not transformed• Sales onboarding too long
Gap
The Gap in Sales Execution
11
Strategy
Sales Execution
Typical Actions to Close Gap:
• Buyers more savvy• Sales process more complex• Reps have not transformed• Sales onboarding too long
Gap
More Training
however, 87% is forgotten within weeks
The Gap in Sales Execution
12
Strategy
Sales Execution
Typical Actions to Close Gap:
• Buyers more savvy• Sales process more complex• Reps have not transformed• Sales onboarding too long
Gap
More Training
however, 87% is forgotten within weeks
More Content
70% are halfway to decision
before Sales is engaged
The Gap in Sales Execution
13
Strategy
Sales Execution
Typical Actions to Close Gap:
• Buyers more savvy• Sales process more complex• Reps have not transformed • Sales onboarding too long
Gap
More Training
however, 87% is forgotten within weeks
More Sales Reps
9 mo avg ramp up time
58% of time not selling
More Content
70% are halfway to decision
before Sales is engaged
The Gap in Sales Execution
14
Strategy
Sales Execution
Typical Actions to Close Gap:
• Buyers more savvy• Sales process more complex• Reps have not transformed• Sales onboarding too long
Gap
Reasons Why Actions Not Closing Gap:
More Training
however, 87% is forgotten within weeks
More Sales Reps
9 mo avg ramp up time
58% of time not selling
More Content
70% are halfway to decision
before Sales is engaged
The Gap in Sales Execution
15
Strategy
Sales Execution
Typical Actions to Close Gap:
• Buyers more savvy• Sales process more complex• Reps have not transformed• Sales onboarding too long
Gap
Reasons Why Actions Not Closing Gap:
More Training
however, 87% is forgotten within weeks
More Sales Reps
9 mo avg ramp up time
58% of time not selling
More Content
70% are halfway to decision
before Sales is engaged
The Gap in Sales Execution
16
Strategy
Sales Execution
Typical Actions to Close Gap:
• Disconnected activities• Misaligned with buyer
stages• Not specific to each
selling situation• Can’t keep up with rate
of change• Value not presented
• Buyers more savvy• Sales process more complex• Reps have not transformed • Sales onboarding too long
Gap
Minding the Gap When Hiring New Sales Reps
Hiring Alone Does Not Solve Growth Challenges
17
Slower Time-to-
Productivity
Out-of-DateOnboarding
Process
18
Financial Impact of Accelerating Ramp Up
Current State Improvements Proposed State
Number of new sales reps 25 25
Average annual revenue per Rep $1,000,000 $1,000,000
Time it takes to ramp up (months) 9 20% 7.2
Effectiveness during ramp up 50% 50%
Lost revenue per rep ramp up $375,000 $75,000 300,000
Annual Revenue Lost $9,375,000 $1,875,000 $7,500,000
Polling Question
How long does it currently take to onboard a new sales rep?(time to productivity)
Less than 3 Months
3 to 6 Months
6 to 9 months
Greater than 9 months
A.
B.
C.
D.
Slide 19
20
Sales Execution Challenge: “Sales Ramp Up Too Long”
• Fire Hose Onboarding = “It’s About Us”
• Typically Tactical Implementation • Missing Context Which Creates New Gap
Why Organizations Struggle With Sales Ramp UpFire Hose Effect
Our Messages
Our Value Proposition
Our Capabilities
OurFeatures
Our Benefits
Our Differentiators
21
Context is Key
22
Context is Key
Situational Selling
23
Accelerating New Sales Rep Ramp Up
Doing Today
• New Hire Orientation• Incremental Training• Adhoc Coaching • Mentoring• Case Studies• Collateral
Need To Do Differently
• Well Defined Sales Process• Integrating Activities
(onboarding, training, coaching day-to-day job activities, all while working deals)
• Intelligent Guidance (deal specific)
• Just-in-time Information (Push vs Pull)
• Getting reps involved in real deals sooner (context)
24
Integrated Activities
Work Deals SoonerGreater context by getting reps involved in real deals sooner
CoachingEmbed coaching in situational selling scenarios to reinforce training
GuidanceDeal-specific contextual guidance to drive sales behavior
Aligned ResourcesAlign content and resources to buyer stages
Working Live Deals
cont
ext }Within the
Selling Process
25
Intelligent Guidance to Reinforce Best Practices & Process
Leverage formal sales methodologies
Share tips from the field
Roundtable discussions
Assign a sales mentor
Open dialogueSelling
Documents
Best Practices
Training
Coaching
ProcessContent
Resources
Tools
Contextual Details
26
How do your reps get the information they need?
Just-in-time Information
Seek advise
Try Searching
Ask Sales Operations
Ask Marketing
SME
Marketing Sales CRM
27
Just-in-time Information
Contextual Resource Center
28
Just-in-time Information
Case Study on Large
Manufacturing Organization
Contextual Resource Center
29
Just-in-time Information
ROI Calculator with speaking points for CFO
Contextual Resource Center
Case Study on Large
Manufacturing Organization
30
Just-in-time Information
Contextual Resource Center
Case Study on Large
Manufacturing Organization
ROI Calculator with speaking points for CFO
31
Accelerating Time-to-Revenue
Fully Productive New Sales Reps
Integrated Activities
Reinforce Best Practices
Just-in-Time Information
32
Key Take-Aways
• Hiring along does not solve the growth challenge• Sales readiness starts with a well defined
sales process• Disparate & siloed activities inhibit
onboarding success• Integrating training, coaching, mentoring
leveraging technology can better guide sales behaviors• Pushed just-in-time information can help
to better present value to buyers
E
B
N
US
SS
CC
ES
S
IT
PR
OF
A
X
W
New White Paper:Accelerating Rep Ramp-Up
33
About Qvidian
• 15 Year Proven History• Loyal Customer Base • 1,200+ Customers• 100% Cloud-based• End-to-End Solution• Constantly Innovating
Customers increasewin rates by 28% and improve productivity
by 40%.
35
Contact
• North America: +1 513-631-1155• Europe: +44 (0) 870-734-
7778
#SalesExecution #Qvidian
x
linkedin.com/in/cfaust/linkedin.com/company/Qvidian
twitter.com/Qvidian
facebook.com/Qvidian
youtube.com/Qvidian
