how to build a great sales management function
DESCRIPTION
After you study what makes other companies great with their sales management, it's time to build your own. This presentation will help you take the steps to build a sales management function that makes sense for your organization.TRANSCRIPT
How to Build a Great Sales Management Function
Sales Management Series Class 2
Agenda
1. Review of successful sales management characteristics
2. Develop a strategy
3. What processes, tools, and systems you need
4. How to build and train your team
5. How to motivate and lead your team
6. How to coach your team
7. Understand what skills you need
8. What reports to use
9. How to stay focused on your goals
Characteristics of Successful Sales Managementa. Has a seat at the table to help craft the vision
b. Is the voice of the customer and the sales team throughout the organization – cross functional
c. Always looking for a better way of doing things to get better results
d. Knows how to prioritize and motivate others
e. Methodical approach to the market – able to direct resources
f. Wants to win
g. Can build a team – Coach – Make tough decisions
h. Uses data to guide decisions
i. Not afraid to give credit to others
j. Sells more through the team than they can on their own
Define Where You Want To Go
a. Goals of the organization
b. Long term and short term
c. Keep it simple
d. Alignment on the goals
i. Customer focused
ii. Market oriented
Create a Plan
a. Know your market
b. Know your competition
c. Use business intelligence (BI)
d. Develop your strategy
i. Review handout
e. Strategy vs. tactics
Process, Systems, and Tools
a. Everything that is not your people
b. Benefits
i. 45% Greater sales
ii. 35% Increased time to sell and manage
Process, Systems, and Tools
c. Necessities
i. Sales
ii. Recruiting
iii. Sales management
iv. Metrics or measurables
v. Pipeline
vi. Compensation
vii. Territory management
viii. On-boarding
ix. Development
Sales Manual
a. The 4P’s
i. Position
ii. Products
iii. People
iv. Processes
Sales Process
a. Standardized
b. Match your buyer’s process
c. Review handout
Sales Systems
a. Scripts
i. Consistent and customer focused
b. On-boarding
c. Servicing
d. Follow up
e. Selling tools
a. Review handout
Recruiting Your Team (Sports)
a. Starting line up
b. Bench strength
i. Upgrade C’s to A’s
ii. 1 for 3
c. Winners vs. losers
d. Good vs. bad
Hiring Right
a. Assessing talent
b. Assessment tools and services
c. Using the information for training
Territory Design
a. Geography
b. Product line
c. Customer type
d. Market segment
Sales Structure
a. Organizational chart
b. Work flows
c. Make them mobile!
Training
a. Product training
b. Service training
c. Sales training
d. Expectations and feedback
Motivating
a. Psychological
b. Lead by example
c. Shared mission and vision
d. Give them credit
e. Monetary
i. Reward them well
Compensation Structure – What is the Right Formula?
a. Salary
b. Cash incentives
c. Premium incentives
d. Contests and SPIFs
e. Reward and recognition programs
Leading
a. Your skill set and knowledge
i. Review handout
b. Leaders show the team how to do something, not just tell them to do it
c. Leaders continually identify opportunities to coach
d. Leaders work across the entire organization for improved performance
Help Put Money in Their Pockets
a. Lead development
i. Organic vs. new
b. Sources of lead
c. Marketing
d. Networking
e. Referrals
Help Put Money in Their Pockets
f. Forward pipeline management
g. Reverse engineer activity levels
i. Review handout
h. Set goals
i. Define activity levels
Demand Discipline
a. Cure cancerous employees
b. Make them accountable
c. Metrics – leading indicators
d. Top to bottom
e. Team statistics
Coaching
a. Teaching vs. coaching
b. Don’t sell for them
c. Pre-game
d. During the game
e. Post-game
Coaching Opportunities
a. Disciplines of sales
b. Funnel management
c. Opportunity assessment and management
d. Field observations
e. Probability management
f. Productivity/time management
g. Cross pollination of best practices
Coaching Tools
a. Tell stories
b. Role play
c. Team selling
d. One-on-one (relevant to tenure and talent)
e. Plan development
Coaching Times
a. Spontaneous vs. scheduled
b. Cadence and consistency
c. Get out of the way
Reporting
a. Forecasting
b. KPI/leading indicators
c. Data collection
d. Business intelligence (BI)
i. Review handout
e. Tracking and visibility
i. War board
CRM
a. Business case not ROI
i. Increase “business knowledge” (BI)
ii. Support “change management”
iii. Provide “coaching” platform for performance
iv. Give “leaders” a mechanism to accomplish goals
v. Measure progress on “vision” of business units
Allocating Resources
a. Definition of economics
b. Prioritization
i. Must do
ii. Have to do
iii. Want to do
Focus
a. Stay three steps ahead of the team
b. Dynamic planning
c. People development
d. Continuous improvement
e. Delegate
f. Sharpen your saw
g. Board of advisors
h. Surround yourself with mentors
