the roi of great sales coaching

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The ROI of Great Sales CoachingPresented by: Jim Dickie, Managing Partner, CSO InsightsTim Braman, VP of Corporate Strategy, Revegy


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Welcome

Revinar /rev-uh-nahr/ 1. a webinar series dedicated to sales planning and execution practices which drive revenue

© 2015 CSO Insights

Insights into Great Sales Coaching:The When, Why and How

© 2015 CSO InsightsNo portion of these materials may be reproduced or distributed in

any form without the prior written permission of the authors

CSO Insights

Sales Performance Benchmarking Firm,

- A Division of MHI Global

2015 Sales Performance & Sales Management Optimization Studies◦ - 1,500+ Firms Worldwide

Identify Challenges, Collect and Share Best Practices for How to Address Those Issues

For a Complimentary Subscription to Our

Sales Management 2.0 eBook Series email: [email protected]



The Role of Sales Management

Marketplace Distribution Curve“The goal of sales leaders is to

create more leaders, not followers!”

Jay Vanderbree, Senior Vice President,

LG Electronics



Sales Management Score Card

Overall Plan

Reps on Quota

81.9%

2014

58.1%

89.2%

2012

63.0%



2015 Revenue Targets

94.5%



Getting the Ball Over the Goal Line

Red Zone Effectiveness

2014 – Dallas Cowboys

92.2%

2014 – Sales Teams

45.9%

Seriously?



Tenets of Effective Coaching

• Timely• Accurate• Relevant• Consistent• Individualized



Sales Coaching Today



Impact of Coaching on Sales Performance



Four Levels of Sales Process

Level 1:

Level 2:

Level 3:

Level 4:

RandomInformal

FormalDynamic

46.5%46.6%

59.8%

72.2%

Ok…So I’m a Believer…

• Do I coach Skills?• Do I coach Process?• Who do I coach?• When do I coach them?• What does ‘Good’ coaching look like?• How much is enough?

What next?

3 Must Haves for Effective Coaching

1. Right Target & Capabilities 2. Right Timing/Cadence 3. Right Method/Conversation

Who to Coach

Bottom 10-15% Middle70-80% Top 10-15%

Sales Performance

Num

ber

of

Reps

MinimalValue in

Coaching

How Much Time Should You Invest in Coaching?

Coaching Time/Rep/Week

% Reps Making Quota Win Rate

< 30 Minutes 56% 43%

30 – 60 Minutes

59% 50%

1 – 2 Hours 63% 54%

> 2 Hours 72% 56%

40%

45%

50%

55%

60%

65%

70%

75%

% Reps Making Quota

Win Rate

So why do we only coach when bad things happen?

Source: CSO Insights, 2014 Sales Management Optimization Study

What is a path to GREAT coaching?

BusinessOutcomes

SMARTObjectives

SellerActivities

Tactical – What activities/skills are the most important?

Product/Market/Company Knowledge

Story Telling/Case Studies

Discovery & Solution Alignment

Solution Value Prop/Competitive Differentiation

Pre-Call Planning

Customer Value & Handling Objections

0 1 2 3 4 5 6 7

Source: Harvard Business Review, December 1, 2010, UK Cranfield School of Management“Do you really know who your Best Salespeople Are?”

IT decision-makers Business decision-makers

Forrester Research: Base: 418 Global IT and business decision makersSource: Executive expectations of sales interactions online survey, Q4, 2012

25%26%Global Average

10%US

14%UK

How often do you accept follow-on meetings?

27%

The path to good coaching - Activities

Activities OutcomesObjectives

Grow Revenue

Skills/Deals


Grow RevenuePath 1 Improve Win

Rate 10%

- Coach Value Messages- Create Call Plan- Ride Along Assessment

Improve WinRate 10%

- Coach Pipeline toIdeal CustomerProfile

Path 2

The path to good coaching - Activities

Coach Activities to your Competency Model during

“Ride-alongs”


Grow Revenue

Win Rate of 75%on “Must Win Deals”

1. Review Deal Strategy2. Align Sales Calls with

Strategy

The path to good coaching - Deals

26

Why Coach Deals

• Why Coach Deals

Poor Coaching Average Coaching Good Coaching0%

10%

20%

30%

40%

50%

60%

43%47%

52%

Win RateLoss RateNo Decision

Source: CSO Insights, 2014 Sales Management Optimization study

Stage(SFDC-%)

Identify(Lead – 0%)

Qualify(D – 25%)

Develop(C – 50%)

Proof(B – 75%)

Close(A – 90%)

Purpose Identify the Opportunity

Qualify the Opportunity Build the Solution Prove the Value Close the Deal

Critical Success Factors

• Validate customer’s current business challenges and key initiatives

• Understand customer’s technology landscape and our potential partners

• Determine key stakeholders, evaluation criteria and decision-making process

• Develop latent pain/provocation message

• Conduct initial executive meeting

• Confirm executive commitment and critical success factors

• Identify competitive landscape

• Determine potential solution fit

• Develop initial sales strategy with account team & management

• Conduct detailed discovery

• Develop our unique value propositions

• Confirm solution fit with key stakeholders

• Create solution presentations and demonstrations

• Test / Refine the solution presentation with our Coach

• Present OUR solution to decision makers / sponsor

• Integrate implementation, training and support teams

• Provide references or conduct POC

• Submit value-centric proposal

• Confirm final decision process and timing

• Gain customer commitment and finalize legal agreements / timelines

• Obtain internal approvals

• Process Purchase Order

• Conduct transition meeting with Professional Services and support teams

Identify Key Areas of YOUR Sales Process to Coach

When to Coach - Deals

Is the Rep following the

Sales Process?

When to coach - Deals

Needs Exploration

Needs Identified

Solution Development

Solution Accepted

Final Terms & Conditions

Contract Received

Sales Process

Highly Effective Coaches

Average Coaches

Source: Corporate Executive Board, Defining Coaching Excellence, 2010


1. Right Target & Capabilities 2. Right Timing/Cadence3. Right Method/Conversation


How much time should you invest in coaching?

Coaching Time/Rep/Week

% Reps Making Quota

Win Rate

< 30 Minutes 56% 43%

30 – 60 Minutes

59% 50%

1 – 2 hours 63% 54%

> 2 hours 72% 56%

40%

45%

50%

55%

60%

65%

70%

75%

% Reps Making Quota

Win Rate

Building the Coaching Plan

Skills

SkillsDeals

Deals

1. Hard allocate time (2-3 hrs/rep)

2. Build a weekly cadence

Building a Coaching Plan

1. Hard allocate time (2-3 hrs/rep)

2. Build a weekly cadence with quarterly progress checks


1. Right Target & Capabilities2. Right Timing/Cadence 3. Right Method/Conversation

More Non-Optimal Coaching

Judgment In Your Face Platitudes

Building a Coaching Plan

Coaching NOT Managing

Create a Developmental Environment

Establish Rapport

Get Reps Perceptions first

Focus on plan

Get buy-in

Execution, not Training

NOT A FORECAST CALLCoaching

Performance ImprovementEffective Decision Making

Fair Allocation of OpportunitiiesProvide directionGather ResourcesSales Experience

Product/Solution KnowledgeRewarding Performance

Customer/Market Knowledge

0 0.5 1

Sales Manager Skills

Why have a formal coaching model?

Source: CSO Insights, 2014 Sales Management Optimization study

Sales Performance Related to Coaching Model/ApproachInformal or NO Coaching Model

Formal Coaching Model

Percentage of Reps Meeting or Exceeding Quota

49.9% 62.3%24.8%

Improvement!

What happens if the customer fails to execute on any given strategy?

Have you reviewed this with the customer coach? If not, how will it be received? What are the risks?

What insights did you gather as a result of creating this map? Where are the risks given the information on this map? What gaps in information or insight do you feel need

addressing? Who gathered this information? From what source(s)? What areas of concern does this map present to you? Would the customer recognize this as their strategy or is it your

analysis? Is it in their words?

Coaching Conversation

Provide a standardized PlanFor your managers to leverage

in coaching.

Document improvement areas after each coaching session.

Leverage your coaching insight into your operational activities.

• Leverage Your Coaching Insight into Your Operational Activities

Failure comes as a complete surprise…

…rather than being preceded by a long period of anxiety!

The best thing about not coaching?



Tenets of Effective Coaching

• Timely• Accurate• Relevant• Consistent• Individualized


CSO Insights Case Study Video

SAS Institute Case Study:Optimizing Strategic Accounts with

CoachingEmail Michelle

[email protected]


Thank you for joining us!

Q&A


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