What Does the Future of Sales Look Like? - Amazon …...What Does the Future of Sales Look Like? Exploring Technology, Talent, and Training Join Us on Twitter: #FutureofSales Today’s

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What Does the Future of Sales Look Like?Exploring Technology, Talent, and Training

Join Us on Twitter:#FutureofSales

Today’s Speaker

Jim DickieCo-founder & Independent Research

Director, CSO Insights

@jimdickie

#


The Reality of Selling Today

63.0%

58.2% 58.1%57.2%

55.8%

52.0%

54.0%

56.0%

58.0%

60.0%

62.0%

64.0%

2012 2013 2014 2015 2016

Percentage of Salespeople Meeting/Exceeding Quota

2017 is

53%

#FutureofSales

Sees a business world where:

“Every professional is aided by a cognitive system that augments their expertise.”

Ginni Rommety, CEO IBMMarch, 2017

AI in Business

That Will Be Especially Critical for Sales Professionals

#FutureofSales


The Reality of Selling Today

Tedium Ingenuity

Sales Rep Time

Allocation

Lead Generation/ Account Research, 21.7%

Selling (face-to-face, phone, web), 35.0%

Other (travel, training), 11.6%Meetings/ Admin

Tasks, 13.8%

Post Sales Tasks/ Account Management, 16.2%

#FutureofSales


Emerging Technology that will drive change

#FutureofSales

© Miller Heiman Group, Inc. All Rights Reserved

Another View of How Things Are Bought & Sold

Increasing B2B Focus- Clarify User Requirements- Identify Alternatives- Robust Feature Comparisons- Pricing Analysis- Existing Customer Feedback- Order Processing

All at a Fraction of the Cost of a Traditional Sales Force

~$290,000.00

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Impact of Artificial Intelligence

AI’s Impact on “How” We Sell Opportunity

Identification/ Scoring Stakeholders/

Personas Analysis

Success Management/

Monitoring

Solution Implementation

Key Account Planning

Opportunity Closing

Comprehensive Needs Analysis

Win-Win Deal Negotiation

Persona-based Education

Personalized Configuration/ ROI Creation

Solution Analysis/

Cocreation

What’s AI’s Impact on Aspects of Customer

Lifecycle Management

Lead Generation

Selling

Post Sales

Closing

#FutureofSales


Opportunity Identification / Analysis

Artificial Intelligence Scoring Factors:

• Past Results• Industry Segment• Geography• Key Stakeholders• Specific Objectives• Competitors• Government Regulations• Economy

Opportunity Analysis

Less Likely More Likely

Really Likely

#FutureofSales

AI Call Support• Meeting Scheduling• Beyond Recording Session• Transcribes/Time Stamps• Real-time Coaching• Competitive Differentiation • Objection Handling• ROI Validation

AI in Action–Virtual Sales Call Optimization

Sharing the VOC Across the Enterprise


Targeted Coaching Based on Data Insights

Growth in webinar-based sales and teleconferencing provides a platform for personalized coaching

Lexical and voice recognition software can analyze and identify gaps in live rep conversations with prospects

Old World New World

“How did that meeting go with Acme Co?”

“I saw your meeting analysis, and see we

didn’t get a clear action commitment”

#FutureofSales


Solution Architecture / ROI Analysis

Artificial Intelligence Solution Architecture:

• Needs Analysis Integration• Co/Prerequisite Analysis• Persona-based Prescriptions• Value Pricing Analysis• Creatology Support• Justification/Implementation• Buyer Intent Assessment

#FutureofSales

• A Product is Not Just A Product- 32 Sensors in a Jet Engine- Generates 1 Terabyte of Data Per Flight- Sell Products AND Service and Partnership

Agreements

• AI Account Management Support- Proactive Support Analysis- Upsell/Upgrade Analysis- Future Needs Analysis- Value Realization Analysis- Competitive Threat Analysis

AI in Action–Customer Success Management

Changes Customer/Vendor Paradigm to Co-creation Partners

#FutureofSales

“You have to massively change your sales force!”Jeff Immelt

Microsoft WPC July, 2016

What are the Implications on Who Sells?

So let’s break it down and break it apart…

Impact on Talent, Training and the supporting Technology needed.

Impact on Talent

DNA and Culture Fit

GE Corporate Audit Group• Deep Dive into GE

- Speak the Language of Business

- Eat, Sleep, and Breathe Customer Outcomes

- Intensely Financial Savvy- Understand/Live

Shareholder Value

Implications on Sales Management as Well!


Next Generation Talent Traits

Business and Commercial Acumen Project Management

Analytical Thinking Financial Analysis and Management

Systems ThinkingMarket Segmentation

Re-wiring For The New Frontier

DNA of Sales Rep

#FutureofSales

Impact on Training


Elevated Buyer Expectations

More People Involved

Significantly formalized: 61% 2015 / 45.2% 5yr avg.Avg. sales cycle time: + 2.82% 2015 / 2.6% 5yr avg.

More Formalized Process

Our Customer requires formal ROI…: 61.4% 2015 / 40.2% 5yr avg.

More Political Decisions

Buyer: 5.8 2015 /4.74 5yr avg.Seller: 4.4 2015 / 4.1 5yr avg.

Tim

e

Value

ClientExpectations

Don’t Waste MyTime

Know My Business

KnowYour Solution

Ask Insightful Questions

Add Value

#FutureofSales


Unlocking the Power of Your Data

Going forward, almost all of your activities/behavioral data will be captured in AI

solutions

#FutureofSales

Issues to be Considering

22

Is AI in Sales Crucial? Yes.

Is AI Alone the Answer?No.

AI in the Hands of the “Right” People,

With the “Right” Skills & Training, It Is!

Behavioral DNA

Culture Fit

Skills/Experience Assessment

NOW

#FutureofSales

Move to talent assessments that allow sales people to react, show talent and demonstrate skills through situational ability.

Use real-time data built from deal-by-deal information to gain insight into where deals sit. Incorporate instant

Talent: Measure Talent and Skills Through Situational Ability.

Data: Leverage Real-Time Data to Impact Deals In Play.

feedback and coaching through leading technologies to improve sales win outcomes.

Alignment: Ensure Alignment and Agility Within Your Sales Organization.

Enable your sales people to rapidly respond to changes in the market, to new technologies and to the speed of business. Ensure you have the right people, partners and incentive programsin place.

Execution: Execute Continuously and Precisely Across Your Sales Force.

Improve execution with methodology, skills programs, reinforcement, coaching and ongoing training. Add value in the sales process leveraging

the right content, playbooks and processes to create

differentiation.

TheFuture

4

The Future 4:Four Things You Must Think About and Invest In to Be Successful for the Future

So, how do you pay for it?


Sales Capability Segmented Along the MatrixCSO Insights Sales Relationship Process (SRP) MatrixDefine Level of Relationship

Define Level of Sales Process

Trusted Partner

Strategic Contributor

Solutions Consultant

Preferred Supplier

Approved Vendor

Random Process Informal Process Formal Process Dynamic Process

Level 1 - 25% of Organizations



#FutureofSales


Sales Relationship Process:

2017 World Class Sales & Service Practices Study

Level 12017 Results

Level 22017 Results

Level 32017 Results

% Reps Making Quota 47% 54% 60%

% of Company Plan Attainment 84% 84% 89%

% Wins / Win Rate 41% 47% 53%

% Loss Rate 37% 31% 25%

% Sales Force Turnover 16% 14% 14%

Sales Relationship Process: Defining Metrics

#FutureofSales


27

AI Impact to Sales Performance

Define Level of Relationship

Define Level of Sales Process

Trusted Partner

Strategic Contributor

Solutions Consultant

Preferred Supplier

Approved Vendor

Random Process Informal Process Formal Process Dynamic Process

Miller Heiman Group Sales Relationship Process (SRP) Matrix

AI bringsCustomerInsights

by Definition AI = Dynamic

AI Impact to Sales Performance

#FutureofSales

“We always overestimate the change that will occur in the next two years,

and underestimate the change that willoccur in the next ten.

Don’t let yourself be lulled into inaction.”

Xfive.

Q & A

866.720.9892 | [email protected]

millerheimangroup.com

For more information on our Sales & Service Solutions, please contact us at:

#FutureofSales

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What Does the Future of Sales Look Like? - Amazon …...What Does the Future of Sales Look Like? Exploring Technology, Talent, and Training Join Us on Twitter: #FutureofSales Today’s