Sales Performance & Productivity Summit II - Keynote speech Joe Galvin
-
Upload
minds-and-more -
Category
Business
-
view
185 -
download
0
Transcript of Sales Performance & Productivity Summit II - Keynote speech Joe Galvin
© Miller Heiman , Inc. All Rights Reserved. 1© Miller Heiman , Inc. All Rights Reserved. 1
“The Sales Performance & Productivity Summit II”
Keynote13:00 – 14:00
Insights from world class sales organizations, Outperforming the market by 25%
Joe Galvin, Chief Research Officer Miller Heiman
Tweet #9octsalessummit
SMS 0495/582.221 with
your question + name
© Miller Heiman , Inc. All Rights Reserved. 2
S a l e s A n a l y t i c s : T h e N e x t L e v e l o f T r a n s p a r e n c y
O c t o b e r 9 , 2 0 1 3J o e G a l v i n
© Miller Heiman , Inc. All Rights Reserved. 3
Increasing Levels of Transparency
Paper Form1984
Spreadsheet1990
Client Server1996
On Demand2004
SFA Market 2012: $4.7 billion
Deploy new CRM System
22% 53% 25%
0% 20% 40% 60% 80% 100%
Completed in 2012 or prior 2013/2014 Not planned or in place
Miller Heiman Research Institute Research Note:Sales Analytics: The Downside of Transparency
© Miller Heiman , Inc. All Rights Reserved. 4
Examples Exist Everywhere
ReplacedBaseball Scouts Judgment with Facts
“21”MIT Math PhDs Crack the Card Counting Code
Wearable Technology
© Miller Heiman , Inc. All Rights Reserved. 5
The Next Level of Transparency
Behavior Modeling
Funnel Confidence
The Next Level of Transparency
Fuzzy Funnels
Outcomes
Anecdotal Perceptions
Activities
Miller Heiman Research Institute Research Note:Strategic Themes 2014: The Next Level of Transparency
© Miller Heiman , Inc. All Rights Reserved. 6
Sales Performance Management
Sales Performance ManagementMeasure, Predict and Influence Sales Performance
Predict
Sales ForecastSales FunnelAnalytics
Influence
Territory DefinitionCompensation PlanQuota Allocation
Measure
Cost of SalesSales AchievementSales PerformanceCustomersMarketsProducts
Miller Heiman Research Institute Research Note:Sales Performance Management: Measure, Predict and Influence
Frontline Sales ManagerProductivity Infrastructure
© Miller Heiman , Inc. All Rights Reserved. 7
9% 7%
11%4%
15%
7%
22%
9%
27%
39%
15%
35%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
<100% Forecast 100%+ Forecast
91-100%
81-90%
71-80%
61-70%
51-60%
<50%
Forecast Accuracy
Miller Heiman Sales Performance and Productivity Study 2013
Those that have strong forecasts for 2013 report higher accuracy
42% greater than 80%
74% greater than 80%
© Miller Heiman , Inc. All Rights Reserved. 8
Confidence in Funnel/Opportunity Data?
Miller Heiman Sales Performance and Productivity Study 2013
Organizations on track to achieve plan also have higher confidence in their opportunity data
22%
12%
22%
17%
22%
5%
<100% Forecast
10%
12%
14%
20%
20%
14%
100%+ Forecast
<50%
51-60%
61-70%
71-80%
81-90%
91-100%
Funnel Confidence of 70% or greater
44%Funnel Confidence of 70% or greater
54%
© Miller Heiman , Inc. All Rights Reserved. 9
Sales OPS: Core Responsibilities
Miller Heiman Research Institute Research Note:Sales Operations: Defining the Core
Manage Sales Performance- Measure, Predict and Influence Sales Behaviors
• Operational Data: Results, costs• Opportunity Data: Funnels and forecasts• Activity Data: Sales calls, demos, proposals• Productivity Data: Conversion and velocity
Customer Management Process- Connecting with Customers
• Create Opportunities• Manage Opportunities• Manage Relationships
Alignment of the Sales Technology Infrastructure- Powering Information and Data Exchange
• Territory Management• SFA-CRM Integration• Sales Process Emulation• Mobility
© Miller Heiman , Inc. All Rights Reserved. 10
AccountManagementSales Prospecting Sales Cycle
Buying Dynamic
Strategic Theme: Customer Management Strategy
CustomerMarketing
Marketing Demand Creation
ContentMarketing
Customer Management
ManageRelationships
CreateOpportunities
Manage Opportunities
© Miller Heiman , Inc. All Rights Reserved. 11
Strategic Theme: Frontline Sales Manager
2013 Sales Best Practice StudyThe Growing Gap Between Good and Great
0 540
WC
All 4 hours 24 minutes
8 hours 36 minutes
Monthly time spent by managers inWorld-Class Sales Organizations on
“Skills Development” or “Product Training”
8 hours 36 minutesIn an average
month, our sales managers
definitely spend adequate time coaching each individual on
the sales team.
Source: 2013 Miller Heiman Sales Best Practices Study
© Miller Heiman , Inc. All Rights Reserved. 12
2014 Miller Heiman Sales Best Practices Study
The largest ongoing global study of complex B2B sales management and selling activities
Analysis identifies attributes of World-Class Sales Performance
Data is the basis of research services, benchmarking company performance to World-Class Sales Performance.
2014 Miller Heiman Sales Best Practices Study open through
November 4th
www.millerheiman.com/research
Respondents have access to results via Executive Summary
and exclusive participant webinar.
2013 Study: 1,100+ responses, 15 verticals
© Miller Heiman , Inc. All Rights Reserved. 13
Your Sales System
Customer Management
Business Management
© Miller Heiman , Inc. All Rights Reserved. 14
Sales Performance: Customer Management Alignment
Sales ManagementChannel/Region/Segment
Sales ManagerFrontline, Quota Bearing
Sales RepField/Inside/Channel
Chief Sales OfficerRevenue, Expense, Marketshare
SalesPerformance
Hierarchy Tiered Matrix
Customer Management
© Miller Heiman , Inc. All Rights Reserved. 15
The Levers of Productivity
Sales ManagementChannel/Region/Segment
Sales ManagerFrontline, Quota Bearing
SalespersonField/Inside/Channel
Chief Sales OfficerRevenue, Expense, Marketshare
SalesPerformance
Sales OperationsTerritories, Metrics, Comp, Quota
Sales TrainingProcess, Skills, Product, New Hire
Sales EnablementLeads, Knowledge, Message, Tools
Sales TechnologySFA, Apps, Platform. Mobile
InfrastructureProductivity
© Miller Heiman , Inc. All Rights Reserved. 16
Visibility and Transparency - Reports and Dashboards
Sales Force Automation: Next Generation
Sales Force Automation: Next Generation
SFAFoundation
AccountsContacts
Opportunities
Funnel/Forecast
TerritoriesSales Hierarchy
ICM –SalesCompensation
Comp Plans
Crediting Rules
Quota Mgmt.
CommissionStatements
MethodologyAutomation
Account Plans
OpportunityPlan
Coaching
Team Selling
Analytics
Historical Data Capture
PredictiveModeling
ProductivityMetrics
© Miller Heiman , Inc. All Rights Reserved. 17
MSFT analytics
© Miller Heiman , Inc. All Rights Reserved. 18
Funnel Confidence – Forecast Accuracy
Clearly defined customer management strategies- Sales Ops
Frontline sales manager expertise- Sales training
Organizational execution- Sales leadership
Technology Infrastructure- Align with Customer Management
© Miller Heiman , Inc. All Rights Reserved. 19
The Next Level of Transparency
Behavior Modeling
Funnel Confidence
The Next Level of Transparency
Fuzzy Funnels
Outcomes
Anecdotal Perceptions
Activities
Miller Heiman Research Institute Research Note:Strategic Themes 2014: The Next Level of Transparency