L&D for the Win: Help Sales Seal the Deal

L&D For the Win: Help Sales Seal

the DealRethinking the Role of L & D

in converting pipeline opportunities into revenue

Agenda

1 Priority of your company’s leadership and how L&D can add value

Ways you can increase your company’s win rates by 24%5

2 Factors influencing the achievement of that priority

3 Critical questions that form the Funnel Filter™

4 Repercussions that your sales leaders face without this

Focus of Sales Leadership

The Slippery Slope

“How are we going to get there?”

© 2016 Integrity Solutions

Lynch, Pat

win rate of forecast deals is only 47.7%

Poll

When sales leadership conducts forecast reviews around “key” pipeline opportunities, your role as an L & D professional is:

I have a regular seat at the table and actively contribute to the opportunity review discussion.

I am asked to occasionally participate in opportunity reviews.

Opportunity reviews are typically conducted by sales management without my input – and that’s OK with me.

I can add value to opportunity reviews but am typically not asked.


The Challenges

• Delta between current revenues and yearly target.• Forecast inaccuracies continue to frustrate sales

leaders & embarrass sales people• L & D frequently not seen as a direct contributor to

pipeline performance


Lynch, Pat

Oerall revenue attainment was down in 2016 to a disappointing 82.7% of annual target.

? ?

?

Our mission today…

• Equip L & D to help your sales organization’s #1 priority.

Convert pipeline opportunities to recognized revenue.


Costs

Wasted efforts

Unnecessary travel expenses

Poor resource allocation

Misuse of sales management


Three Causes of the Problem

1Sales managers

looking at quantity vs. quality



2Unbalanced

pipeline processes

1Sales managers




2Pipeline process that neglects the

customer

1Sales managers


3Low adoption of

sales training by the field



1Sales managers



Pipeline Value“Our six month pipeline shows a 22.4 million dollar value.”

“I need to have 5x my quota in my pipeline”

Pipeline Opportunities“My target is 10 opportunities in Stage 1, 6 in Stage 2, 3 in stage 3, etc.”

More is better!

How is Pipeline Health Measured?


There is sufficient quantity of opportunities in each stage.But what about the quality?

The Feel Good Pipeline


1: Quality vs. Quantity

Opportunities that:1. Late stage?

2. Revenue amount?

3. Close date?

4. Should never have been included in the pipeline in the first place!


Major Sources of Pipeline Frustration

Survey of 348 sales managers

44%

34% Unrealistic timelines and overly-aggressive close dates

Have sales opportunities that initially progress through the early stages only to stagnate and eventually be removed


Needs: Describe the five categories of needs that the customer has expressed for this opportunity?

Decision Process: What’s the decision process the customer will follow, including buying role of key contacts?

Action: What is the latest next-step action commitment agreed to by the customer that will move this opportunity forward?

For each opportunity in your company’s pipeline ask three questions:

Funnel Filter


Sales Best Practices Study


All Respondents

World Class

0% 100%

39%

92%

“We clearly understand out customers issues before we propose a solution”

Five Categories of Needs












Five Categories of Questions


Much higher percentage of deals that have a much higher likelihood of closing…

More Realistic Sales Funnel



2Unbalanced

pipeline processes

1Sales managers



The #2 issues is Sales Process


Suspect Cool Warm Hot Contract

Identify target vertical

Forward product information

Present initial proposal

Send company overview info

Conduct audit to assess needs

Research potential competitors

Hold first meeting

Present audit results to client

Present final proposal with pricing

Establish potential account opportunity

Discuss opportunity with manager

Typical Pipeline


Revealed Needs in the five categories that this solution will address?

Described the decision making process they will use for this specific opportunity, including buyer roles?

Provided you with access to senior-level decision-makers?

Revealed how thisinitiative will be funded?Discussed their decision criteria and ranking of importance?

Committed to a next-step action that will move this opportunity forward?

Sales Person Perspective vs. Customer Perspective

Has the customer:


Client shared a problem or opportunity that we can address

Key stakeholders have shared information in the five categories of needs.

Client has shared decision criteria and ranking

Client has agreed to provide access to key stakeholders

Client has shared the decision making process

Client has given you feedback on your initial recommendations

Discussed opportunity with manager to determine pursuit strategy

Determined long term sales objective

Balanced Opportunity Process

Stage 1 Stage 2 Stage 3


The Real Sales Pipeline Implications

• Sales people can focus their time and energies on better qualified opportunities

• Managers can focus their coaching efforts on opportunities that have a higher likelihood to reward their efforts

• Sales costs will decrease significantly

• Profitability per sales person, per client and per organization will climb



2Pipeline process that neglects the

customer

1Sales managers


3Low adoption of



The Size of the Prize….

Up to a 24% increase in Win Rates!

© 2016 CSO Insights, Inc.

The Slippery Slope


If adoption of skills training is a challenge in your organization, what do you see as a major contributor to that?

Open Text Survey

Your Thoughts….

Do they get a chance to actually practice the skill where that skill will be needed?

What’s Required to Improve a Skill?

(vs. Obtain Knowledge)Practice



Is there a regular schedule, or ad hoc?

Structured practice over time



Do they have someone who is paying attention to their development?


Coaching



If they don’t do the work, who notices?


Coaching

Accountability



If they have a setback, who is there to support and encourage?


Coaching

Accountability

Support System

Three Actions to Take Now!

2Scrutinize your sales process

1Examine

pipeline quality not just quantity

3Study adoption of


Q&A

Bruce WedderburnIntegrity Solutions

Pat LynchCSO Insights

Leadership & Management

L&D for the Win: Help Sales Seal the Deal