Pursuit of Performance Findings From the 2014 Miller Heiman Sales Best Practices Study

8/12/2019 Pursuit of Performance Findings From the 2014 Miller Heiman Sales Best Practices Study

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Copyright 2014 The Sales Management Association.

Sales Management ssociation Webcast

18 June 2014

Presented by

Pursuit of Performance: Findings from the 2 14Miller Heiman Sales Best Practices Study
https://twitter.com/JoeGalvinhttp://www.linkedin.com/in/joegalvin32


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About The Sales Management Association

Slide 2 2014 The Sales Management Association. All rights reserved.

A global, cross-industry professional association for salesoperations and sales management.

Focused in providing research, case studies, training, peernetworking, and professional development to our membership.

Fostering a community of thought-leaders, service providers,academics, and practitioners.

Learn More: www.salesmanagement.org
http://www.salesmanagement.org/http://www.salesmanagement.org/


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Copyright 2014 MHI Global. All Rights Reserved.

THE PURSUIT OF WORLD-CLASSPERFORMANCE

2014 MHI GlobalSales Bes t Prac t ices S tudy


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Original Rules of Basketball.Dr. James NaismithJanuary 15, 1892

13. The side making the most points in that time isdeclared the winner


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Playing FieldAccount, Territory, Market

OpponentsCompetitors

StrategyHow to Win

RulesExpense Comp Plan


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Number of QualifiedOpportunities

New Account Acquisition

Average Account Billing

YOY Existing Customer Growth

Quota AchievementForecast Accuracy

Revenue


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Performance

2013 PerformanceGAP

Customer Core Collaborative Culture

Calibrated Success


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0%

20%

40%

60%

80%

100%

2012 2013

World Class All Respondents

Gap GrowthOur organization collaborates across alldepartments to pursue large deals.

COLLABORATIVE CULTURE

Gap Growth+9 pts

+4 pts89% 93%

48%43%-5 pts


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RevenueNumber of Qualified

Opportunities

New Account AcquisitionAverage Account Billing


Quota Achievement

Forecast Accuracy

2014: +22%


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Customer CoreProvide Perspective

Behaviors

Collaborative CultureConscious

Collaboration

Calibrated SuccessPerformance

Accountability


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The Pursuit of Performance

The MHI Global Sales System

2014 MHI Global Sales Best PracticesStudy

3 Behaviors of World-Class SalesPerformance

6 Elements of the Sales System

12 Behaviors That Impact Performance

CredentialsXerox 1984-89

Field SalesGartner Group: 1989-2006

Sales Rep Sales Manager: 1989-96WW Sales Operations: 1996-01VP CRM/SFA Analyst: 2001-05WW Field Operations: 2005-06

SiriusDecisionsCreator, Sales Operations Strategies 2006-11

http://www.linkedin.com/in/joegalvin32

Joe GalvinChief Research OfficerMiller Heiman Research Institute


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Executive Summary : MHIGlobal 2014 Sales Best Practices

http://goo.gl/utNmyD

www.Millerheiman.com- Whats New


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MHI Global: Empowering Growth

MHI Global helps companies and their

sales leaders globally build and sustainsuccessful, customer-focused high-

performance organizations that can driveprofitable, predictable top-line growth.


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Worlds largest ongoingstudy of complex, business-to-business selling and salesmanagement practices

More than 30,000 participants overlast 11 years.

Not exclusive to MHI Global clientsor alumni.

All Respondents filtered to reflectcomplex sale; 3+ decision makers.

Study includes 3 sections:Demographics, Behaviors, Metrics

Analysis defines key behaviorsleveraged to drive performance.


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N=1,155


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CRITICAL SALES ACTIVITIES Analysis elevates activities most linked to

sales performance

Identify respondents that collectively andconsistently execute these 12 behaviors

Designate this sub-segment as world-classpopulation

VALIDATE WITH SALES METRICS Number of Qualified Opportunities




Quota Achievement

Forecast Accuracy

WORLD CLASS Small percentage of respondent base,

8.5% in 2014 Outperforms All Respondents on

metrics measured by 22%


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Customer CoreProvide Perspective

Behaviors

Collaborative CultureConscious

Collaboration

Calibrated SuccessPerformance

Accountability


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OrganizationalAttribute

IndividualBehavior

CulturalComponent

CalibratedSuccess

PerformanceAccountability

What do wemeasure, recognize

and reward?

CustomerCore

ProvidePerspective

How do we connectand engage with our

customers?

CollaborativeCulture

ConsciousCollaboration

How do wework together?


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We clearly understand our customersissues before we propose a solution.

Organizational

Attribute

Individual

Behavior

CulturalComponent

CustomerCore

ProvidePerspective

How do we connectand engage with our

customers?

45%

92%

All Respondents

World Class4-year average 2014

93%

48%


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Experience

Sales Experience Knowledge

MHI Research Institute Research Note:Providing Perspectives

Provide a PerspectiveHow YOU will achieve success

ExperienceKnowledge

Context Concept

DecisionDynamic

Customers

Give a PitchWhat we sell to YOU

1:All

Capabilities

P

Deliver a PresentationWhat we sell to people like YOU

1:Many

Capabilities Market/

Role


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Our organization collaborates acrossall departments to pursue large deals.

Organizational

Attribute

Individual

Behavior

CulturalComponent

CollaborativeCulture

ConsciousCollaboration

How do wework together?

201494%

43%46%

93%

All Respondents

World Class4-year average


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Sales CommunitySharedIntelligenceBest

Practices

Sales ProfessionalSales Managers, Executives, Subject Matter Experts, Specialists

Messages KnowledgeStrategy

Account PlanOpportunity Plan

Sales Call ObjectiveCommon Language

SynchronizedSelling

InternalIntelligence

Competitive IntelFeature/FunctionProduct Roadmap

Pricing

CustomerCommunications

Customer ConceptValue PropositionMarket PositionCorporate Vision

Customer

MHI Research Institute Research Note:Sales Collaboration: Defining Attribute of World Class


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Our sales performance metrics arealigned with our business objectives.

CalibratedSuccess

PerformanceAccountability

What do wemeasure, recognize

and reward?

43%

92%

All Respondents

World Class

4-year average 2014

93%

48%

Organizational

Attribute

Individual

Behavior

CulturalComponent


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Customer Management

Business Management


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Qualified Opportunities



YOY ExistingCustomer Growth

Quota Achievement

Forecast Accuracy


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Social Selling: Getting to 1:1

Achieving a Knowledge Advantage

Creating the CustomerCommunity

Managing MultipleCustomer Models

Enabling Perspective

Forecast Accuracy -Funnel Confidence


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Activity Metric World Class ALL YOUR TEAM

Create Opportunities

Sales and Marketing are aligned in what our customers want and need. Number ofQualified

Opportunities

91% 38%

We have a formalized value proposition that is very compelling to our prospects. 92% 42%

Manage Opportunities

Our organization is highly effective in allocating the right resources to pursue large deals. New AccountAcquisition

93% 36%

When we give price concessions, we always get comparable value in return. 71% 21%

Manage Relationships

Our organization regularly collaborates across departments to manage strategic accounts. AverageAccount Billing

94% 43%

We jointly set long-term objectives with our strategic accounts. 87% 34%

People & Organization

We know why our top performers are successful. YOY ExistingCustomerGrowth

92% 41%

Our management team is highly effective in helping our sales team advance sales opportunities. 96% 43%

Operations & Enablement

Our sales compensation policies are aligned with our business objectives. QuotaAchievement

90% 46%

Our sales team consistently relies on our knowledge management system as the single sourcefor collateral and information.

71% 23%

Management Execution

We leverage the best practices of our top performers to improve everyone else. ForecastAccuracy

89% 29%

Our sales managers are always held accountable for ensuring the accuracy of our sales forecast. 93% 44%


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BEHAVIORS OF WORLD-CLASS SALES ORGANIZATIONS

Sales and marketing alignment

Formalized value proposition

Allocating the right resourcesComparable price concessions

Regularly collaborates

Review results of our solution

Why top performers succeed Management team advances deals

Compensation aligned with objectivesSingle source for knowledge

Leverage best practicesForecast accuracy accountability


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2014 Sales Performance and Productivity Study

3rd annual study conducted by Miller Heiman

Research Institute Open June 9 August 1

Survey Incentives:

www.millerheiman.com/study

This study gathers insightsand trends on the strategicinvestments being made todrive sales productivity.

The findings of the studyhelp participantsunderstand trends ininvestments in productivityin Operations, Enablement,Training and Technology

providing you with data tosupport strategic planningfor 2015.

2014 Strategic IssuesDigest

Invitation to exclusiveresults webinar for

participants in October


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Questions and Discussion

Slide 36 2014 The Sales Management Association. All rights reserved.

Enter your questions in the

Questions box on the righthand side of the webinarapplication window.

Did we run out of time before we got to yourquestion? Presenters can follow-up with you viaemail. Feel free to submit more questions ifyoud like an offline response .

#PerformancePursuit
http://www.twitter.com/https://twitter.com/JoeGalvinhttp://www.linkedin.com/in/joegalvin32


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Thank You.

Pursuit of Performance Findings From the 2014 Miller Heiman Sales Best Practices Study

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