Larry D'Angelo - Better Forecasting Accuracy - Shorter Buying Cycles
Sales Acceleration Summit - This session is now available on demand: http://www.insidesales.com/events/2014/sales-acceleration-summit/larry-d’angelo Session Overview Increasing forecast accuracy while reducing buying cycles? It’s possible. The mindset of a sales rep when they engage an opportunity has a significant impact on their ability to accurately forecast that opportunity, and create a much reduced buying cycle. Learn the keys to approaching sales from the buyer’s perspective, understand what actions truly drive deal timing, and know where you really are in the sales process and how to guide the conversation – all resulting in increased control for the sales rep. See how these actions can be mapped into your pipeline and forecast processes leading to increased accuracy and reduced buying cycles. Hear how small changes in sales rep behavior and reinforcement can drive improved results. Take away the one question every sales rep should ask to understand whether or not they will actually close ‘the deal.’
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Larry D'Angelo - Better Forecasting Accuracy - Shorter Buying Cycles
- 2. #SalesSummit | @lmdangelo Better Forecasting Shorter Buying Cycles Larry D’Angelo Senior Vice President Sales - LogMeIn
- 3. #SalesSummit | @lmdangelo Possibilities Increase With Connectivity • 540,000 Subscribers • 19 Million Accounts • 55 Million People • 250 Million Devices
- 4. #SalesSummit | @lmdangelo 2 Key Forecast Accuracy Attributes to Influence • Probability (0 to 100%) – Will we win this deal • Timing – If we win, can we actually predict when it will close How can sales influence to better predict deal closure
- 5. #SalesSummit | @lmdangelo 3 Steps to Better Deal Predictability 1. Focus less on “sales rep driven activities” and more on buyer communications 2. Manage reps to tasks that most represent buyer commitment 3. Create compelling events to influence/direct buyer timing Need to change rep behavior
- 6. #SalesSummit | @lmdangelo 3 Keys to Changing Rep Behavior 1. Develop progressive Questioning Methodology 2. Call Monitor, Role-Play and coach to specific deal scenarios 3. Map sales cycle cadence to Pipeline tasks directly into your CRM
- 7. #SalesSummit | @lmdangelo Develop Questioning Methodology 7 BUDGET • Do they have budget? • Is it approved? AUTHORITY • Who has to say yes to this purchase? • Who can say no? NEED/PAIN • Did the customer say we can meet their needs? • Do they want to buy LogMeIn? PROCESS • What is the approval, buying AND legal process – they are different! TIME FRAME • When will they buy? • Why? What compelling event did you create? • What if they do nothing – what bad thing happens? COMPETITION • Is the customer looking at other solutions? • If so, are they telling you we are winning – YOU MUST GET A YES HERE! First Call Outcome - FCO
- 8. #SalesSummit | @lmdangelo Call Monitoring/Scoring
- 10. #SalesSummit | @lmdangelo Inside Sales Pipeline
- 11. #SalesSummit | @lmdangelo Sales Process in Salesforce.com
- 12. #SalesSummit | @lmdangelo Most Influential Forecast Predictor If no one tells you you’re winning, you’re losing