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Managing a Sales Process of Actions that Lead to Sales

Growth

Your Hosts:

Craig Klein, CEO, SalesNexus.com

18 years as a sales executive. Hiring,

training sales people. Developing lead

generation and business development

campaigns.

Jim Wilkinson, CEO of The Strategic CFO

30 years in finance, accounting and

private equity including Ernst & Young and

Capstone Funding.

Forest Cassidy, CEO, LeadFerret.com

Millions of B2B contacts with emails, FREE

2013 Sales GrowthWebinar Series

Magic 5 of Content Based Email Marketing that Drives Sales Leads

LeadFerret search

• Title• Revenue• Employee

s• SIC Code• Location

500 contacts with emails ea. month

LeadFerret search

• Title• Revenue• Employee

s• SIC Code• Location

500 contacts with emails ea. month

Today we’ll discuss…

1. Why sales forecasting matters

2. Common Problems with Forecasting Sales

3. What is a sales process?

4. Methods to Measure the Pipeline and

Improve

5. Examples and Your Questions

How does a forecast get used?

Sales Management

• Tracking progress toward goals of the sales team and individuals.

• Provides specifics for coaching of sales reps.

• Provides a benchmark to compare sales people to each other

• Creates a competitive framework

Business Financing

• Bankers want to see your sales forecast

• Can’t be a simple extrapolation of last year

• Must be based on specific market/account intelligence and projections

Why do financial projections fail?

Unable to forecast sales accurately!

• Can’t manage investments in inventory, additional

staff, etc.

• Costs don’t match income or demand.

• Missed opportunities.

• Damages profits.

Sales Process?

A series of steps that lead to an order1. Cold Calls or Emails2. Set Appointment3. Presentation4. Proposal5. Closing

Where is the activity?Where is the cost?Where do things get stuck or stall?

Time is Limited and ValuableOnly 40 hours in the weekNeed to spend time prospects that have a high probability to purchase

Control is LimitedYou can’t control prospects you talk to You can control which prospects you talk toImproves deal and pipeline management

Knowledge is PowerUncovers painProduces better leads

Relationships are KeyMakes a better impressionDecreases prospect’s guardMakes sales activities more conversationalBuilds rapport

Why Qualifying is Critical

Sales Pipeline – What to measure?

Identify measurable metrics that lead to sales!

Steps in the process• Leads in• Qualified Leads in• Proposals• Presentations• Demos• Appointments• RFPs

Sales Pipeline – What to

measure?

Identify measurable metrics that lead to sales!

Indicators of performance

• Response Time

• Event attendance

Indicators of Interest

• In coming calls

• Downloads of whitepapers, ebooks, etc.

• Clicks on key emails – buyers guide, competitive

comparisons, etc.

Close Rate?

% of opportunities that enter the pipeline and close.

Limit to opportunities that meet minimum qualification standardsWhat makes a real opportunity?

Compute Close Rate as…

• Closed Deals / Total Leads

• Closed Deals / Qualified Leads

• Large Opportunities Closed / Large Opps

• Small Opportunities Closed / Small Opps

• By Product or Service

Surprises?

Lower profit margin on large deals?

Higher overall profit margin on certain products

Higher overall profit margin on leads from specific advertising

Sales Pipeline?

Measuring only what comes out the end – sales $

No control, no ability to adjust or compensate

The Big Reveal!

Where do opportunities stall? Why?

After the proposal• Sticker Shock?• Is the value clear?• Is the proposal coming too early?

After the demo• Demoing to unqualified prospects?• Wrong people in the demo?• Budget / ROI case not clear?

What can we do about it?

Reliable Forecasting

Give it a few weeks or monthsGet a feel for the benchmarks“30% of qualified opportunities close within 45 days…”

Project sales based on these benchmarks• By sales person• By product• By region• By size of opportunity• Each category has it’s own benchmarks

Sales Forecasting Spreadsheet

Sales forecast – based on historical close rate

Automated Sales Process

In-depth SalesScripter Training Feb 20th

• Pain• Qualifying• Voice mail scripts• Follow up emails

• Much more!

• SalesScripter

www.salesscripter.com

“360 degree View of the Customer

Relationship for Business Profits”

February 13th at 4pm ET

Register here - SalesNexus.com/resources/webinars

Join us next Wednesday!

Get a free copy of the Sales Pipeline

spreadsheet.

Email Saundra Wathen, at Strategic CFO -

swathen@strategiccfo.com

Sales Pipeline Sheet

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