Our guest today is JD Miller, the General Manager and Head of Sales for BravoSolution. JD has led four organizations through a successful transformation. Most recently, JD lead the sales and marketing team at BravoSolution through an incredible transformation to generate new logo revenue. He is here today to share how he made it happen.
Why this topic? Sales drive revenue growth and the sales team has to have a solid sales strategy in order to hit their revenue goals. At the end of the day, the key to success and growth is creating shareholder value, which is largely associated with successful branding. Many companies struggle to drive revenue because they’re in need of new logo acquisition. But, new logo acquisition is difficult to execute, and without a focused sales team, reps won’t prioritize new logo acquisition. Creating a structured plan for new logo acquisition is the only way to increase new logo revenue and open new accounts. If you’re struggling to consistently make your number, and you’re seeing shareholder value decrease as a result, you may want to consider transforming your sales strategy, in order to see your new logo acquisition succeed.
Watch as JD demonstrates how to initiate, plan, and execute a sales transformation to increase new logo revenue.
We begin by outlining the context of this powerful use-case of BravoSolution. JD shares the compelling event that brought about the sales transformation. We then unpack the initiatives and have a dialogue about why elements of the transformation were selected. Many companies go into a transformation trying to fix every gap. JD explains how he prioritized the initiatives to arrive at a core set that would make the biggest difference. We round out the first segment discussion how was the rest of the executive team involved to support the transformation.
JD shares this insight, “Invest in development, especially with sales people. They tend to be the most expensive hire you’re going to make. Not only the salary you’re going to pay them, but if you give someone a territory and they don’t develop it for a year, you’ve lost out on a whole lot of opportunity. You really must get it right.”
In the second segment of the show we breakdown the transformation by talent and the performance conditions that the talent works within. When we look at the equation for success we see Talent is 50% of the equation and performance conditions is the other 50%. JD shares how he assessed the hunter roles to make sure he had the right people in revenue generating roles. Performance conditions also had to be addressed, and we discuss formalizing Sales Prospecting efforts and instituting a formal process, training, and cadence for reps to follow. JD uses the contrast method to share the difference in your prospecting pre-and post-transformation.
In the final segment, we discuss Buyer Segmentation as the foundation for the transformation. Buyer Personas help the sales force understand how purchase decision are made and we discuss the impact that buyer personas had on selling efforts. JD illustrates an example of where the persona input helped move a deal along.
We conclude the show by discussing how to gain traction and adoption with the sales force, as well as drive the manager to reinforce the adoption and regular use of the Buyer Personas.
Additional Resource – Try the Revenue Growth Diagnostic
Do you have the right sales strategies to support your revenue growth goals? Here is an that will help you discern whether or not you have a chance to make your number. Take the Revenue Growth Diagnostic to test and rate your Sales Strategy against SBI’s emerging best practices.