Pursuit of World-Class Performance (Miller Heiman)

Joe GalvinChief Research OfficerTamara SchenkResearch Director

©Copyright 2014 Miller Heiman, Inc. All Rights Reserved.

THE PURSUIT OF WORLD-CLASS PERFORMANCE

2014 Miller Heiman Sales Best Practices Study


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

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


Playing FieldAccount, Territory, Market

OpponentsCompetitors

StrategyHow to Win

RulesExpense – Comp Plan


Number of Qualified Opportunities

New Account Acquisition

Average Account Billing

YOY Existing Customer Growth

Quota Achievement

Forecast Accuracy

Revenue


Performance

2013 PerformanceGAP

Customer CoreCollaborative Culture

Calibrated Success


RevenueNumber of Qualified

Opportunities

New Account Acquisition

Average Account Billing

YOY Existing Customer Growth

Quota Achievement

Forecast Accuracy

2014: +22%


Customer CoreProvide Perspective

Behaviors

Collaborative CultureConscious

Collaboration

Calibrated SuccessPerformance

Accountability


The Pursuit of Performance

Miller Heiman Sales System®


3 Behaviors of World-Class Sales Performance

6 Elements of the Sales System

12 Behaviors That Impact Performance

Joe GalvinChief Research OfficerMiller Heiman Research Institute@joegalvinhttp://www.linkedin.com/in/joegalvin32

Tamara SchenkResearch DirectorMiller Heiman Research Institute@tamaraschenkhttp://www.linkedin.com/in/tamaraschenk

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

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

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


World’s largest ongoing study of complex, business-to-business selling and sales management practices

•More than 30,000 participants over last 11 years.•Not exclusive to Miller Heiman clients or alumni.•All Respondents filtered to reflect complex sale; 3+ decision makers.•Study includes 3 sections: Demographics, Behaviors and Metrics.•Analysis defines key behaviors leveraged to drive sales performance.

©Copyright Miller Heiman, Inc. All Rights Reserved.

N=1,155


CRITICAL SALES ACTIVITIES• Analysis elevates activities most linked to sales

performance

• Identify respondents that collectively and consistently execute these 12 behaviors

• Designate this sub-segment as world-class population

VALIDATE WITH SALES METRICS• Number of Qualified Opportunities

• New Account Acquisition

• Average Account Billing

• YOY Existing Customer Growth

• Quota Achievement

• Forecast Accuracy

WORLD CLASS • Small percentage of respondent base, 8.5% in 2014• Outperforms All Respondents on metrics measured by

22%


Customer CoreProvide Perspective

Behaviors

Collaborative CultureConscious

Collaboration

Calibrated SuccessPerformance

Accountability


Organizational

Attribute

IndividualBehavior

CulturalComponent

CalibratedSuccess

Performance Accountability

What do we measure, recognize

and reward?

CustomerCore

ProvidePerspective

How do we connect and engage with our

customers?

Collaborative Culture

Conscious Collaboration

How do wework together?


Organizational

Attribute

IndividualBehavior

CulturalComponent

CustomerCore

ProvidePerspective

How do we connect and engage with our

customers?

We clearly understand our customer‘s issues before we propose a solution.

4-year average 2014

93%

48%


Experience

Sales Experience Knowledge

Miller Heiman Research Institute Research Note:Providing Perspectives

Provide a PerspectiveHow YOU will achieve success

ExperienceKnowledge

Context

DecisionDynamic

Customer’s

Give a Pitch What we sell to YOU

1:All

Capabilities

PDeliver a Presentation

What we sell to people like YOU1:Many

Capabilities Market/Role


Organizational

Attribute

IndividualBehavior

CulturalComponent

CollaborativeCulture


How do wework together?

Our organization collaborates across all departments to pursue large deals.

2014

91%

53%

4-year average


Sales CommunitySharedIntelligence

Best 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

Miller Heiman Research Institute Research Note:Sales Collaboration: Defining Attribute of World Class


CalibratedSuccess

Performance Accountability

What do we measure, recognize

and reward?

Organizational

Attribute

IndividualBehavior

CulturalComponent

Our sales performance metrics are aligned with our business objectives.

2014

93%

48%

4-year average


Sales ProfessionalSales Rep

Personal ProfessionalismNext Job Promotion Career

PerformancePerception Excuses Results

CustomersCompensation Commission Customer Success

TeamIndependence Figure It Out Proven Process

mmmReward

mRewardMeasure, Recognize

and Reward

Miller Heiman Research Institute Research Note:Performance Accountability: World-Class Sales Behavior

Accountability


Customer Management Business Management


Social Selling

Knowledge Advantage

Customer Community

Multiple Customer Models

Enabling Customer Context

Forecast Accuracy &Funnel Confidence


23%

71%

0% 100%

All Respondents

World Class

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


We are highly confident in our sales force's ability to communicate value messages to customers and prospects.

Provide Perspectives

44%

88%

0% 100%

All Respondents

World Class


CHANGE THINKING TO GET TO THE NEXT LEVEL

"We cannot solve our problems with the same thinking we used when we created them."Albert Einstein [1879 – 1955]


SALES ENABLEMENT – MISSING ELEMENTS

Situation Consequences

Front Line Sales Managers FSMs ignored

Coaching disconnected

Customer Core Internally focused

alignment activities Customer focus lost „Product pitches“

Sales Operations Sales operations missing

Ops & Enablm. disconnected

Integrated Services Content & training siloed Product focus

Sales frustration Waste of resources


SALES ENABLEMENT – MISSING ELEMENTS

Situation Consequences


Coaching disconnected

Customer Core Internally focused

alignment activities Customer focus lost „Product pitches“

Sales Operations Sales operations missing

Ops & Enablm. disconnected

Integrated Services Content & training siloed Product focus

Sales frustration Waste of resources

Execution Gap



Sales Operations

Sales Operations missing

Integrated Services Content & training

siloed Product focus

SALES FORCE ENABLEMENT – CUSTOMER CORE APPROACH

Integrated enablement & coaching

SFE = Intersection between ops & marketing

Integrated services to improve business awareness

Situation

Design point =Customer journey & stakeholder network

New Requirements

Internally focused alignment activities

Customer Core


DESIGN POINT – CUSTOMERS AT THE CORE

"The main thing is to keep the main thing the main thing."Stephen Covey

Entire customer's journey and stakeholder network

At each stage At all levels


CUSTOMER'S JOURNEY

Awareness

Need to Change Define Situation

Buying

Evaluate Options Select Best

Gate 1 Gate 2Future vision established?

Gate 3 Gate 4Best buying

option?Won?

Gate 5 Gate 6New

challenges

Implement Assess Value

Implementation & Adoption

Customer's Journey


CUSTOMER CORE SFE FRAMEWORK

Results & WinsChange & Situation Value Perception

Context & Concepts

Value Hypoth. & Props

Decision Dynamics

Unique Value Prop

Value Dynamics

Value Confirmation

Integrated Content Management & Training FrameworkPowered by enablement & collaboration technology

Focus

Engagement & Messaging Principle

Content & Trainings Services

Technology / Governance

Sales Professional Business AwarenessSkills, Knowledge, Cust. Mgmt.Strategies, Decision Dynamic Expertise

Customer's Journey

Select Best Imple-ment Assess ValueEvaluate Options

Need toChange

Define Situation

Providing Perspectives Best

Buying VisionFuture Vision

of SuccessOwn

OutcomeIncrease

Value


YOUR SITUATION – YOUR NEXT STEPS

Shift focus to "Customer Awareness"

Switch content from product to customer situation

Train business acumen and decision dynamic expertise

Level 1

Focus on growing existing customers

Create analyzing tools for new business ideas

Run pilot with A- players, then roll-out

Level 2

You are a rock star! Create

A-Player sounding board Let's share best practices

Level 3


BEHAVIORS THAT DRIVE WORLD-CLASS SALES PERFORMANCE

Sales and marketing alignmentFormalized value proposition

Allocating the right resourcesComparable price concessions

Regularly collaboratesReview results of our solution

“Why” top performers succeedManagement team advances deals

Compensation aligned with objectivesSingle source for knowledge

Leverage best practicesForecast accuracy accountability


Activity Metric World Class ALL YOUR TEAM

Create Opportunities

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

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 Account Acquisition

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. Average Account 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 Existing Customer Growth

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.Quota

Achievement

90% 46%

Our sales team consistently relies on our knowledge management system as the single source for collateral and information.71% 23%

Management Execution

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

89% 29%

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


ATTRIBUTES OF WORLD-CLASS COMPETITORS

They love to compete…Cards, sports or business

They practice hard…You don’t practice until you can do it right…

…you practice until you can’t do it wrong They compete every day…

They always play to win They want to compete against the best…

It’s the only way to get betterThere is no cheating…

Cheating isn’t competing, it’s cheatingThey are focused on results…

Close calls and nice tries don’t matterNothing beats winning…

2nd place is the first loser


THE PURSUIT OF WORLD-CLASS PERFORMANCE


Thank youFor more informationSAVO Web Site: www.savogroup.comSales First Nation: www.savogroup.com/sales-first-nation/SAVO Products: www.savogroup.com/products/SAVO Phone: 312-276-7700

http://www.savogroup.com/

http://www.savogroup.com/sales-first-nation/

http://www.savogroup.com/products/

Pursuit of World-Class Performance (Miller Heiman)

Sales

pursue large

copyright

training framework

knowledge

single source

top performers

stakeholder

qualified

Transcript of Pursuit of World-Class Performance (Miller Heiman)

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