CONFIDENCETO HIT YOURNUMBER

OPP TO CLOSE: How to save 25% of your opportunities

Jim Eberlin

What deals closed?

IN THE FORECAST

NOT IN THE FORECAST

...more coverage

● Sales Process ● Momentum● Scoring Opportunities● Keep the data clean

4 things to track on opportunities...

1. Sales Process

Lead to Opportunity Opportunity to Close

Marketing Qualified Lead

Sales Qualified Lead

Sales Accepted Lead

Opportunity Created

Defining

Negotiating

Closed Won

Qualifying

Pending

CRM

lead scoring

oppo

rtun

ity

scor

ing

Example Sales Process

● Compelling Problem

● Data Reliability

● Sales Process

● Reporting Process

● Forecasting Process

● Deal Velocity● Deal Make Up● Is it stuck?

2. Momentum

● Sales Funnel report● Also in momentum

o Show happy earso Sandbagging

● Also show avg cycle times o Point out different sales processes

● Show Actual vs. Forecast results

Show two graphs - where it gets stuck

3? Deal Make up

Next Meeting set? (show picture)Talk to C-Level? How long ago?Can it close in this time frame?Compelling need?

Show Percentage Health (new graph)

Keep your data clean

Close datesContacts - right roles?Past due dates Update right after meetings

Stats

● Win 25% more● Waste less - you’ll put resources on the right

ones

● Predictable Sales Pipeline Management ● Predictable Sales Forecasting● Enriching and preserving CRM data

More info…..

www.topopps.com

Scoring - Analyzing - Forecasting

Sales Process& Forecasting

Opp to Close

● Win more● Accelerate deals● Waste less opportunities

3 things to be a sales rock star...

● Forecast opportunities to close● Dig into the pipeline● Record what you do● Analyze what happened

Win More, Accelerate and Waste Less….How?

FORECAST1

How we forecast now

What deals closed?

IN THE FORECAST

NOT IN THE FORECAST

...more coverage

FORECASTCost: Confidence

Time: 1:1s and Sales Meetings

PIPELINE2

Everything is verbal

• Characteristics (size, market, etc)• Sponsor• Compelling Event• Milestones Occurred• Velocity• Next Meeting Scheduled• Logic

– Forecasted every quarter?– Can it close this fast?

PIPELINECost: 20% of the pipeline is lost

Time: 8 hours / rep / month

ANALYSISAFTER THE SALES PERIOD3

Analysis - what happened during sales period?

• Happy Ears or Sandbagging going on?• Did we get better at -

– Win rates? – Forecasting?– Deal cycles?– Competition?– Marketing and Sales Spend?– Understanding sales model?

Analysis after the quarter

• One-off reports• Consultants• Hire more CRM admins• Scrub data

ANALYSIS AFTER THE SALES PERIOD Cost: 10-24 hours / month

Time: Internal Rate & Consulting Costs

Pipeline

Analysis

PROCESS

Forecast

TIME COST

TOTAL

4-10 hours / month

Sales Meeting: 4 hours / month1: 1s: 4 hours / rep / month

Scrubbing Data: 8-16 hours / monthReport Building: 2-8 hours / month

Lost confidence from board and management

20% + Revenues Lost

Internal Rate CostsConsulting Costs

~ $9,000+ / month~ 110 hours / month

* Based on 20 reps

The big problem... Lost Deals!

Lead to Close with DRIVE...

Methodology: Process + People + Tools

SalesDevelopment Sales Customer

Success

Customer Retention Upsell

Cross Sell

OPPORTUNITY CLOSE RENEWALLEAD

Marketing Automation Prospecting

Email Tracking Power Dial

List Building

Lead Generation

DATA ANALYZINGFORECASTINGSCORING

Win Rates

Performance

Sell Cycle Times

Rep Commit

System Commit

Clean / Integrity

Simplifying Updates

Progress

Attributes

Prescriptions

The DRIVE Method: Process & Automation

Scoring - Analyzing - Forecasting

Sales Process& Forecasting

● Companies can develop and model sales processes ● Reps know next steps and playbooks (great for newbies)● Sales teams can improve each sales period

With these strategies...

DATA1

DATA: Common Issues

● Close dates● Missing data: ex. contacts● Missing qualifiers: ex. no next meeting● Illogical data: ex. close date unrealistic, zero amount● No activity● Too long in a given stage

DATA: Clean it up or lose deals

● Bad data means - not working it● Data accuracy for analysis ● Need frequent updates ● Ability to check in on a deal at any moment

SCORING2

SCORING: Sales Progress

● Sales stages?● Milestones? Key questions? ● Single or multiple sales processes?

SCORING: The Deal Make Up● Next meeting date is set● Communicating with the right roles● Agreed upon compelling need● Value by role● Set Impact - high/low and positive and negative● Close date is accurate - no past due tasks

SCORING: Velocity

● Is deal stuck on a milestone or stage?● Timely communication from key roles● Follow up after key milestone (ex. proposal sent)● Is next meeting set?

SCORING: Qualitative Assessment

● How’d the last meeting go? ● When was the last communication?● Who did you talk to?● What will make them buy now?

SCORING the Pipeline Opportunity Healthscore

PROGRESS MOMENTUM ALERTS

Stage UpdateQualification, Defining, etc.

Milestone Update

Activity to complete for next stage

Attribute Update

Pain, Competition, Roles, etc.

RESULTS

Last CommunicationMajor meeting?

Last Activity

Stage advancement

Next MeetingScheduled soon

Check In

Double thumbs

Roles InvolvedVP/C-level

Closing this month but no meeting scheduled

Past Due

Close dates, scheduled meetings, tasks, etc.

Length of time on stage

or milestone

Did it push? How many times?

Opportunity age

Sales Meetings

1-on-1s

Sales Forecasts

HealthScore

Sales meetings and 1:1s are now valuable!

● Know top opportunities going into meeting● Replace “around the horn” with strategic topics● Focus on next steps on deals - not deal review

ANALYZING3

ANALYZING

● Win rates● Rep performance● Sales cycle times● Loss report● Forecast vs Actual● Product

● Industry● Deal size● Competitor● Interesting attributes● Stages

FORECASTING4

“Good forecasting requires...● a good sales strategy ● understanding of buyers behavior● a milestone driven pipeline process● continuous improvement”

-Four Principles for Great Sales Forecasts

● System commit● Rep commit● Categorization of rest of pipe ● Healthscore applied to category● Marrying different yields

FORECASTING

PROVEN RESULTS

Closed $400K incremental revenue in first quarter

Customer Success

90% of forecasted opps closed in first two months

Instant spike in CRM updatesCut 80% of time spent prepping for 1:1s and sales meetings

Reps DRIVE the sales process

● Align your sales process with the prospects decision plan● Then share it with them!

Qualification Compelling Need

All SponsorDemo Proofpoint

Sales Executive

Value

Sales Representative

Value

Pricing Agreement Decision

You are Here

TopOPPS

● Predictable Sales Pipeline Management

● Predictable Sales Forecasting

● Enriching & Preserving CRM

Data

TopOPPS

for more info:

topopps.com

Thank you