Transcript Miller Heiman 2012 World Class Sales Survey Results

Ian Irving | BREESE
© Miller Heiman , Inc. All Rights Reserved.
1
Strategic Issues for 2012
The Next “New” Selling Environment
Key Findings: 2012 Best Practice Study
Strategic Issues of the 2012 study
Social Media and B2B Sales
Attributes of a World Class Sales Organization
© Miller Heiman , Inc. All Rights Reserved.
2
Welcome to “This Economy”
“Uncertain economy” | “Challenging economic times” | “Current economic conditions”
© Miller Heiman , Inc. All Rights Reserved.
3
Change How We Sell
Provocative Selling
Provoke your client
Challenger Model
Challenge their knowledge
SPIN Selling
Situation, Problem, Implications,
Needs Payoff
FUD Selling
Fear, Uncertainty and Doubt
Bare Handed Selling
© Miller Heiman , Inc. All Rights Reserved.
4
Information Technology
Accelerates
Amplifies
Illuminates
Information
Communications
Data acquisition
Real time reporting
Mobility
Multi-platform
Synchronization
Collaboration
Data
Analytics
Transparency
Contribution
Data, Information and Intelligence
© Miller Heiman , Inc. All Rights Reserved.
5
Technology Drivers: 2015
 Social is Mainstream
- Customers get smarter
- Social sales community
 Limitless Bandwidth
- Skype, video chat, stream
- Tele-Presence, virtual events
 Life in the “Cloud”
- Anytime, anywhere, anyone
 Big Data
- Transparency, predictive analytics
© Miller Heiman , Inc. All Rights Reserved.
6
Sales Strategic Issues: 2015
Analytics: 3D Data
Measuring how we sell
Customer X.0: The Multi-Channel Customer
Smart, sophisticated buying
Collaboration: The Social Sales Community
Changing how we communicate
Revenue Marketing: Part of Sales
Demand gen., Enablement, Nurturing
Sales Technology: Sales Rep Automation
Beyond SFA: Sales Force Accounting
© Miller Heiman , Inc. All Rights Reserved.
7
The Edge of Innovation 2012
60x and 300x images of
mouse retina using Laser
Scanning Confocal Microscopy
Tablets/mobility
• iPads: Touch.salesforce.com
• Synchronization, Dropbox, The “cloud”
Social Selling
• Prospects: search, seek, track & engage
• Customers: community, knowledge and nurture
Marketing Impact
• Creating Opportunity: Demand gen, content, campaigns,
Account Based Marketing
• Managing Opportunities: Enablement, Message, Tools
• Managing Relationships: Nurturing
Collaboration:
• Chatter, Jive
• Social Sales Community, Customer collaboration
• Social Enterprise, Social CRM
© Miller Heiman , Inc. All Rights Reserved.
8
2012 Miller Heiman Sales Best Practice Survey
 World’s largest annual study of sales performance best practices
 Over 27,000 participants to date
 Reveal trends, issues, opportunities in today’s selling environment
2012 Study: 1,200+ responses, 15 verticals
Participate for 2013, survey opens November 2012
© Miller Heiman , Inc. All Rights Reserved.
9
World-Class Sales Organizations?





Salesperson Productivity
Quota Achievement
Account Acquisition
Account Retention
Lead Growth
© Miller Heiman , Inc. All Rights Reserved.
10
Key Findings Sales Best Practice Survey
Understanding Your Customers
Front-line Sales Management Priorities
Technology’s Role in Improving Business Results
© Miller Heiman , Inc. All Rights Reserved.
11
Understanding Your Customers
© Miller Heiman , Inc. All Rights Reserved.
12
12
Front-line Sales Management Priorities
© Miller Heiman , Inc. All Rights Reserved.
13
CRM Confidence is Growing
14
© Miller Heiman , Inc. All Rights Reserved.
14
2012 MILLER HEIMAN SALES BEST PRACTICES STUDY
How do you improve demand
generation and prospecting
performance?
How are buyer behaviors affecting
successful sales cycles?
How do you improve customer
retention, satisfaction and
loyalty?
What is your strategy for talent
management?
How do you utilize analytics
to manage and drive your
business?
How do you create and
support a culture of sales
collaboration?
© Miller Heiman , Inc. All Rights Reserved.
15
How do you improve demand generation and prospecting performance?
We have a
formalized value
proposition that
is very compelling
to our prospects.
We consistently
follow a
standardized
process to qualify
opportunities.
WC
93%
WC
91%
All
39%
All
39%
© Miller Heiman , Inc. All Rights Reserved.
Qualified
Lead Growth
16
Strategic Issue: Create Opportunities
How do you improve demand generation and prospecting performance?
What is the Marketing contribution to
the sales pipeline?
© Miller Heiman , Inc. All Rights Reserved.
What is the account based
marketing strategy?
17
Marketing Transformation
2012
2002
Marketing
Change
Catalyst
Marketing
Corporate Marketing
Brand, PR, Comm.
Social
Media
Field Marketing
Lead Generation
Buyer 2.0
Corporate Marketing
Reputation
Social Engagement
Revenue Marketing
Demand Creation
Inbound - Outbound
Product Marketing
More Informed
Buyer
Product, Solution, Vertical
Content Marketing
Product, Solution, Vertical
Buyer/Sales Enablement
Transparency
Marketing Operations
Data, Metrics, Technology
Measurement
© Miller Heiman , Inc. All Rights Reserved.
18
How are buyer behaviors affecting successful sales cycles?
Our organization
is highly effective
in allocating the
right resources to
pursue large
deals.
We clearly
understand our
customers’ issues
before we
propose a
solution.
WC
92%
WC
93%
All
34%
All
48%
© Miller Heiman , Inc. All Rights Reserved.
Growth in
Account
Acquisition
19
Strategic Issue: Manage Opportunities
How are buyer behaviors affecting successful sales cycles?
How do multiple buying influences
change the decision making dynamic?
© Miller Heiman , Inc. All Rights Reserved.
Are customers becoming
better at buying?
20
Buyer 2.0: Buyer Chaos
More people = more complex decision process
A more formalized process = more activities for the buyer to execute
More information, from more sources = Buyer Chaos
“…. 57% of the buyers
journey is complete
before engaging with a
sales rep”
…….Really?
View of Mt. Everest from Base Camp 1
© Miller Heiman , Inc. All Rights Reserved.
21
Buyer 2.0: Knowledge Acquisition
Break
Status Quo
Phase
Status Quo
Sales
Execution
Shape
Concept
Shopping
Evaluation
Decision
Selection
Buying Process
Activity
Awareness
Knowledge
Base
General
Research
Market
Options
Engagement
Provider
Capabilities
© Miller Heiman , Inc. All Rights Reserved.
Justification
Solution
Selection
22
Buying/Selling Process Alignment
Break
Status Quo
Phase
Status Quo
Sales
Execution
Shape
Concept
Shopping
Evaluation
Decision
Selection
Buying Process
Activity
Sales
Awareness
Account
Management
Research
Prospecting
Engagement
Justification
Sales Cycle
Sales & Marketing Process
Marketing
Customer
Marketing
© Miller Heiman , Inc. All Rights Reserved.
Demand
Creation
Content
Marketing
23
How do you improve customer retention, satisfaction and loyalty?
Our organization
regularly
collaborates across
departments to
manage strategic
accounts.
We have
relationships and
dialog at the
highest executive
levels with all our
strategic accounts.
WC
91%
WC
96%
All
42%
All
38%
© Miller Heiman , Inc. All Rights Reserved.
Growth in
Account
Retention
24
Strategic Issue: Manage Relationships
How do you improve customer retention, satisfaction and loyalty?
What is the connection between
satisfaction and revenue?
© Miller Heiman , Inc. All Rights Reserved.
What is your large account
management strategy?
25
Buying/Selling Process Alignment
Break
Status Quo
Phase
Status Quo
Sales
Execution
Shape
Concept
Shopping
Evaluation
Decision
Selection
Buying Process
Activity
Sales
Awareness
Account
Management
Research
Prospecting
Engagement
Justification
Sales Cycle
Sales & Marketing Process
Marketing
Customer
Marketing
© Miller Heiman , Inc. All Rights Reserved.
Demand
Creation
Content
Marketing
26
Customer Lifecycle Management
Status Quo
Customer Service
Billing, support, service
Buying Process
Awareness
Account
Management
Sales Process
Customer
Marketing
© Miller Heiman , Inc. All Rights Reserved.
Reputation Management
Branding, social monitoring
Accounts / Contacts
Buying influences, coaches
Nurturing
Account based marketing
27
CRM: Customer Relationship Management
Status Quo
Customer Service Systems
Buying Process
Awareness
Account
Management
Reputation Management
Sales Force Automation
Sales Process
Customer
Marketing
Marketing Automation
CRM System
© Miller Heiman , Inc. All Rights Reserved.
28
What is your strategy for talent management?
Our process for
getting new hires
to full
productivity is
highly effective.
When we lose a
high-performing
salesperson, we
always know the
reasons why.
WC
80%
WC
85%
All
17%
All
33%
© Miller Heiman , Inc. All Rights Reserved.
Growth in
Salesperson
Productivity
29
Strategic Issue: Management Execution
What is your strategy for talent management?
What are the behavioral attributes
that predict success in our
organization?
© Miller Heiman , Inc. All Rights Reserved.
How much time, energy and resources
do we invest in improving our sales
team?
30
Talent Management
Profile
Assessment
New Hire
Performance
Professional
Development
Employee
Retention
Hiring
Best Practices
Top Performers
Development
Time to Prod.
Sales Process
Market-Product
Accounts
Business Acumen
Grad. Degree
Technical
Cross-function
Turnover
Tenure
Recognition
Financial
© Miller Heiman , Inc. All Rights Reserved.
31
How do you utilize analytics to manage and drive your business?
Our sales
performance
metrics are
aligned with our
business
objectives.
Our sales
management
team is highly
confident in the
data available
from our CRM
system.
WC
93%
WC
81%
All
45%
All
25%
© Miller Heiman , Inc. All Rights Reserved.
Growth in
Salesperson
Productivity
32
Strategic Issue: Operations and Enablement
How do you utilize analytics to manage and drive your business?
What is the ROI of our CRM system?
© Miller Heiman , Inc. All Rights Reserved.
How consistently is your sales process
used and understood?
33
Measuring Productivity
DATA
ANALYTICS
Revenue Value by Sales Phase
Revenue Forecast
Velocity by Sales Phase
Conversion by Sales Phase
Ideal Customer Attributes
Factored Pipeline
© Miller Heiman , Inc. All Rights Reserved.
34
How do you create and support a culture of sales collaboration?
We leverage the
best practices of
our top
performers to
improve
everyone else.
In an average
week, our sales
force definitely
spends sufficient
time with
customers.
WC
81%
WC
85%
All
25%
All
27%
© Miller Heiman , Inc. All Rights Reserved.
Growth in
Quota
Achievement
35
Strategic Issue: Management Execution
How do you create and support a culture of sales collaboration?
Where do sales people go to access
information or access resources?
© Miller Heiman , Inc. All Rights Reserved.
How do internal resources swarm
to large, complex deals?
36
Social Technology: Selling and Sales
Social Selling
Social Collaboration
Buyer 2.0
1:N to 1:1
Virtual Knowledge Network
Social Platform
© Miller Heiman , Inc. All Rights Reserved.
37
Social Selling: A New Way to Prospect
 Search
- Internet
- LinkedIn - Facebook
- Social Communities
 Pursue
- Research
- Monitor
- Triggers - Alerts
 Connect
- Approach
- Messages
- Metrics
© Miller Heiman , Inc. All Rights Reserved.
38
Social Collaboration
Sales Rep
Sources of Information
What you know
Who you know
Who they know
Who we know
Knowledge Network
© Miller Heiman , Inc. All Rights Reserved.
39
The Social Sales Community
Sales Community
Sales Communities
Sales Reps
Sales Management
Subject Matter Experts
Marketing
Regions
Vertical Markets
Competition
Products
© Miller Heiman , Inc. All Rights Reserved.
40
Attributes of World Class Sales Organizations
Standardized process to qualify
Understanding customers needs
Leveraging Social Media
Gain access to decision makers
Allocating the right resources
Disciplined process
Criteria to define strategic accounts
Jointly set objectives with accounts
Review results with accounts
Getting new hires effective fast
Professional development
Knowing why best are best
CRM is effective
Improve quality of work
Sales & business metrics are aligned
Spend sufficient time coaching
Clearly defined activities
Leverage best practices
© Miller Heiman , Inc. All Rights Reserved.
41
DISCUSSION
Implications for YOUR Organisations?
© Miller Heiman , Inc. All Rights Reserved.
42