A top SBI client just rolled out a new customer engagement strategy. 5-10% growth will not happen next year without an executable process. Teams nationwide were trained by their peers on Social Selling and Opportunity Management. The client has determined that success is contingent on superior customer intimacy. They have created a Prospecting and Sales Process aligned to the Buying Process. They are dedicated to engaging with buyers the way buyers want to engage.
This client has built out capabilities in Segmentation, Planning and Engagement. It will now turn its focus towards finalizing Org Structure, Execution and Support. Similar strategies are laid out in SBI’s 8th Annual Research Report.
Now the rubber hits the road. The sales reps have the tools to succeed. They will rely on their Sales Directors to reinforce the process. Sales Directors will look to corporate for direction. Corporate will look to Sales Operations to measure and analyze the process. There will be a learning curve, but the team is up to the challenge.
To those 250 sales professionals, a promise: You Will Win. Your process is built to benefit your buyers. You will build bigger opportunities. You will close deals more quickly. And close them more often. As a Sales Director at the final training event said,
“There are 3 things to take from this training:
- Who my buyer is
- How my buyer wants to buy
- What tools I can offer my buyers to help them in their process.”
How will we know we have won? Sales Operations has provided you with milestones to start showing wins today. Track these metrics and goals with your Sales Directors through weekly 1 on 1s. They include both leading and lagging indicators of success. If we find the process needs revision, we will be agile and improve it.
- Connect with 10 buyers per month through LinkedIn.
- Generate 1 face to face appointment per month through Social Selling.
- Create 1 net new opportunity per quarter through Social Selling.
- Close 1 net new deal per year.
In our 2 month pilot, 24 reps added $1.8M to the pipeline. Social Selling works. 200 reps closing a deal a year through Social would yield $40M in revenue. Expand your network, build strong relationships and create opportunities. Engage with buyers earlier in their buying process to begin to advise them. Providing helpful information will put you close to the buyer. When they decide to engage a sales resource, you will be top of mind.
Sales Process Adoption
- Track minimum of 3 activities per rep in pipeline.
- Track percentage of opportunities where primary sales aids submitted correctly.
Proper measurement of the process is essential. Ongoing support will focus on gaps in execution. In order to improve the process, the process must be used diligently. When breakdowns occur, Sales Operations will be there to support. But it needs quality data to make decisions.
- Win Rate
- Projected Pipeline Size
- Number of total Opportunities
- Number of Wins
- Number of Advances
- Number of Continuations
- Number of Losses
If the process does not lead to more wins, it’s broken. Every major interaction is intended to help a buyer progress. When a buyer progresses, the opportunity advances. If more opportunities close, than we have more often helped our buyers.
Sales Operations will work with you throughout the process. Recent investment in Sales Operations tells us the organization is committed to your support. Have your Sales Director reach out to Pat, or any SBIer, for help. Or download the report.