Building a High-PerformanceSales TeamKate Dunn — Director, InfoTrends

Agenda

Assess Your Current State

Build Your Plan

Coverage & Compensation

Hiring

Define Objectives, Goals and Expectations

Managing Your Team

Summary and Next Steps

Where Sales Fits

BUSINESS PLAN

STRATEGIC MARKETING PLAN

SALES MANAGEMENT PLAN

TERRITORY PLANS

ACCOUNT PLANS

OPERATIONAL PLANNING

WORKFORCE PLANNING

A Sales Management Plan

Sales management can be defined as planning, implementing, and

controlling the personnel and processes used to achieve the sales

and profit objectives of the firm.

Assessing Your State

The Stockdale Paradox

Vice Admiral James Bond Stockdale (December 23, 1923 - July 5, 2005)

“This is a very important lesson.

You must never confuse faith

that you will prevail in the end—

which you can never afford to

lose—with the discipline to

confront the most brutal facts of

your current reality, whatever

they might be.”

What’s Your Situation?

Your sales team is a revenue machine

They have the right skills and experience

They are highly motivated and focus on activities that drive sales

You have a mix of strong and weak players on your team

Some require a lot of hand-holding and you don’t always have the time to give them the help they need

Your sales are unpredictable

Your team spends most of their time “quoting and hoping”

They have little direction and are consistent underperformers

A

B

C

Step 1: Build Your Plan

Building Your Plan

Coach & Manage

Set Goals

Build Hiring Plan

Align

Compensation Plan

Define Coverage Strategy

Develop a Training Plan

Perform Talent Assessment

Define the Required Skills

Define Company Objectives

BU

ILD

ING

YO

UR

PLA

N

From Your Strategic Marketing Plan

What to sell

Who to sell it to

Why customers need what you sell

Why customers will buy from your organization

How much you want to sell

You should know this!

Selling Processes Need To Change

There Is a Disconnect Between Buyers & Sellers

58%is the

average quota

attainment

67%of sales reps aren’t making

quota

Not Giving Buyers What They Need

Are increasingly difficult to reach

Frequently complain that reps are woefully underprepared

See no reason to meet with sales reps

Power Shifts Toward Buyer

Buyers Are: Increasingly more

educated than the seller

Already deeply aware of their problem with a well-scoped RFP in many cases

Sellers Are: Having difficulty adding

value or convincing the decision-makers to rethink their conclusions

Being forced into price-driven conversations

Differing Definitions of Value

14%

Leads to Price Comparisons

Source: Corporate Executive Board

Only 14% of customers perceive a real difference between

supplier offerings AND value the difference enough to pay for it.

You Need A New Kind of Rep

Customers put the highest value on salespeople who

make them think, bring new ideas, and find creative and

innovative ways to help their business

as many decision-makers prefer to have

discussions about business trends, business

issues, and business insights than traditional

product knowledge-driven sales conversations.4XSource: SiriusDecisions

What Customers Want

Rep offers unique and valuable perspectives on the market

Rep helps them navigate alternatives

Rep helps them avoid potential landmines

Rep educates them on new issues and outcomes

Supplier is easy to buy from

Supplier has widespread support across the organization

Insight Selling Skill Requirements

Skill Description

Communication Excellent written and verbal communication skills

Presentation Can present to a team of decision-makers using appropriate technologies

Understanding A thorough understanding of common marketing objectives by channel and key communication trends impacting the customer’s communication objectives

A thorough understanding of all solutions offered by the company and the benefits that those solutions can bring to the customer

Understands the sales process dictated by the company and can demonstrate an ability to move a new opportunity from initiation to close and apply learning to additional new opportunities

Phone Skills Can deliver a well-structured message by phone to a new contact/prospect

Research Can research potential new opportunities and decision-makers using the Internet, LinkedIn, and other applicable means

Record-Keeping

Can keep accurate and up-to-date records of contacts and opportunities with prospects using a company-supplied technology (e.g., CRM system) or other manual means dictated by the company

Ricoh has People who can Help

 

Ricoh Business Booster makes it easy and accessible for you to work with a trusted resource to match the right type of candidate with the current and future needs of your organization. 

Ricoh has customized services that can guide you through the process of creating a high-performing sales team.

Discover

Analyze

Plan

Deliver

Manage

We understand a good hire is driven by the personality and production reality of the print shop.

Source: The Rain Group, Your Guide to Insight Selling Success, Mike Shultz & John Doerr

Get Smart & Stay Smart!

Buyers are three times more loyal

to sellers who proactively bring

opportunities to their attention.3X

of customer loyalty is a result of not

what you sell but how you sell it.60%

Training Isn’t Enough!

Source: ES Research Group study

Between 85% and 90% of sales training has no

lasting impact after 120 days.

DAY 1 DAY 120

Coaching is Essential!

A Sales Executive Board Study

found that sales representatives

who received quality coaching

achieved a 20% sustained

improvement in performance.

Which of your sales reps will

realize the greatest impact

from coaching?

Source; The Dirty Secret of Effective Sales Coaching, Matthew Dixon and Brent Adamson

20% sustained

improvement

Assessing Your Current Sales Team

LOW PERFORMANCE HIGH

JANE

MARY

FRED

BOB

LOW

SK

ILL

PR

OF

ICIE

NC

Y

H

IGH

ED

Where Do You Spend Your Time?

LOW PERFORMANCE HIGH

Smaller Account Opportunities

Training

LOW

SK

ILL

S P

RO

FIC

IEN

CY

HIG

H

Direction

Change of Role

Happier Elsewhere

Non-evolving Role

Minimize Impact

Business Development Role

Mentoring

Empowerment

Teach Managers to Coach

SALES MANAGEMENT REQUIRES A DIFFERENT SKILL SET

Set clear expectations for the amount of time that managers should spend coaching

– In high-performing organizations, managers spend 25% - 40% of their time coaching

Set new expectations for sales managers

– Productivity of new reps

– Breadth of participation

– Team developmental objectives

Coverage & Compensation Planning

During Your Transition

Change coverage strategies

to reduce the impact of

those not motivated to sell

the new way

Reduce the size of

territories for those tasked

with account development

Align Compensation

Focus New Product or Service

Transitioning to MSP Selling Print

Rep Characteristics

High energy, emotional, and enthusiastic

Aggressive and impatient

Handles rejection well

Driven by money

Challenges the status quo

Even-tempered, analytical, logical, competitive, controlled ego

Can navigate complex and lengthy sales cycles

Negotiates well and has a high degree of business acumen

Career-oriented

Disciplined, organized, and reliable

Service- and relationship-oriented

Detailed oriented

Dependable

Compensation Type

Lower base or draw plus high % commission

Transaction based

Immediate commission

Higher % of base salary plus commission for growth and new business

Salary

Recognition Highly visible Promotions/bonuses for exceptional effort

Access to additional learning

Retention bonus

Non-pay-related perks

The Best Plans…

Are aligned with corporate objectives– Sales of New Services

– Focus on Profitability

– New Business

Are documented and clearly defined

Are evaluated regularly

Create accountability

Create a Culture of Accountability

Starts at the top of the

organization

Requires focus and

consistency

Is more difficult if reps

see your new focus as

the “flavor of the week”

Build Accountability Into Your Plan

Set clear behavior and performance expectations

Define the “check up” process and timeframes

Define steps in advance that will be taken if milestones are missed

Apply the process consistently!

JAN FEB MAR APR MAY JUN JUL

Hiring New Reps

Hiring: Rules of Thumb

It will always take longer than you think!

Be realistic about the ramp-up time

Develop a position description first

Use multiple sources

– Networking, Online, Recruiters, Employees

If you have the resources, have bench strength

Define your interview process

Interviewing Process Tips

Pre-set interview questions

Multiple interviews/interviewers

Schedule meeting at different times of the day

Build in ways to evaluate writing, phone and presentation skills

Use outside resources to validate your thinking

Do not hire recent college grads without a structured on-boarding process

Defining Sales Goals & Activity Standards

Be Clear About Objectives

Revenue

Profit/Margin

New Business

Retention

Key Product /

Service Sales

Market Penetration

You Need to Measure Activity

Activity data helps identify training needs.

A CRM System really helps.

Make Adjustments As Needed

Model best practices

Evaluate problem areas and adjust activities/training

If your goals are too easily reached, extend them!

Follow your accountability plan

Define measurement milestones in advance

Managing YourSales Team

Your Role as the Sales Leader (1)

Skills Assessment Value proposition

Demonstrations

Insight delivery

Proposal presentations

Training and Development Support small group training

sessions on sales skills and business acumen

Insight development

Vertical/Horizontal market knowledge

New products/services offered

Best practice sharing

Your Role as the Sales Leader (2)

Coaching Reinforcement of training

Continuous improvement of skills

Motivation

Planning

Reporting Sales

Pipeline

Productivity

Personal Development

Review Sessions Are Critical

Weekly Funnel/Forecast Reviews

What’s in and out?

What help is required?

15 mins per rep

Monthly Planning & Review Sessions

One on One – 1 manager and rep Agenda Items

– 30 & 60 day forecast delivery vs. plan• Includes upside opportunities

• Qualification criteria

– YTD Actual vs. Plan

– Top Strategic Suspects*• Insight to be delivered

• Engagement strategy

– Existing Accounts*• Insight to be delivered

• Engagement strategy

– Resources needed

1 hour per rep

Outputs Travel Days Schedule

(2 per month)

Updated

Developmental Plan

Updated Commitment

Action Document

*If rep assigned new business responsibilities

Monthly Team Meeting

Management Team and Sales Team

Training

– Product

– Sales Skill

Best Practices/Customer Case Studies

– One per rep

Lessons learned

Revised/New Insight

– Presented by management

60 – 90 minutes

Outputs Best Practices Shared

Case Studies for

Marketing (includes

metrics)

Process Improvement

Requests

Revised/New Insight

Annual Planning Sessions

Reps present their

strategy to achieve their

sales goals

Critical Opportunity

Reviews:

– High risk accounts

– High potential accounts

Summary & Recommendations

Buying has changed forever, so your sales team must evolve for you to be successful.

Focus your efforts on core performers; moving the needle even a little can have a tremendous impact on overall performance.

Use your resources. Make training, coaching, and mentoring part of the development plans for “Role Model Reps”; seek outside resources to assist you and peer groups to hold you accountable.

New hires from outside the industry need infrastructure in the form of training, coaching, management, and specific goals.

Build a plan that lets you transition by minimizing the impact of “won’t dos” and providing support for current “can’t dos.”

Jump-Start Plan

Steps What Must Be Done? Who Will Do It?

When Can it Be Completed?

Define Sales Skills Needed Add additional skills our business requires to list provided in webinar.

Assess Existing Team Using Performance/Skill Graph

Use performance/skill graph and newly defined skills list to assess current talent; research 3rd party assessment tools.

Develop a Training and Coaching Plan

How can you help existing team and potential new hires develop the skills they need to be successful?

Analyze Compensation and Coverage Strategy if Required

Do you have the right reps focused on the right things? (see slide 19)

Does your comp plan incentivize the behaviors and activities that will determine your success?

Determine Sales Headcount Required Including Sales Hires

Assess whether company’s growth goals for 2016 are realistic given existing sales talent.

Build a Hiring Plan Position description Sourcing channels Interview process Compensation Target dates

Thank you!Kate.Dunn@infotrends.com