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Sales 2.0 Wrap-Up
3. Reps need help
A full 50% of reps did not meet quota last year (from the breakout session: Accelerate Revenue with Smarter Prospect Data Management, quoting IDC)
What it means...
Need smarter prospect data management (an estimated 33% of a reps time is spent searching for the right contact). Reps need automatic sales trigger notifications. Reps need content they can offer their prospect that is timely and informative. They need to schedule sales calls quickly to build opportunity momentum. They need to speed the time-to-signature for sales contracts and know the current outstanding contract-value at any given point in time.
4.It’s not too late
57% of CRM buyers are buying for the first time (Craig Rosenberg of Focus.com)
What it means...
If you haven’t deployed CRM, don’t despair. Among existing CRM users, ~50% are using legacy systems like ACT. Next Gen CRM solutions have more functionality than ever to increase sales efficiency.
Our Recommendations
Do not look to Sales2.0 solutions until you learn which tasks or sticking points take up your reps valuable selling time.
Prioritize based on the areas that are easiest to tackle; that offer the best probability for impacting sales; and that benefit reps (not just managers).
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By Nancy Nardin, CEO, Smart Selling Tools
Last week was the Sales2.0 conference in San Francisco. In attendance were sales and marketing professionals looking to gain insight and inspiration. Luckily, there were plenty of both.
There were several Sales2.0 solution sellers demonstrating their offerings and answering questions. People from organizations which have adopted Sales2.0 solutions were also in attendance and many presented details on their experiences. With a combination of main sessions and break-out sessions the conference covered a variety of topics.
What follows are key points that we took away from the event.
1.Peer powered sales and marketing
Only 20% of buyer’s surveyed, say the seller found them. The other 80% of buyer's said they found the seller. (Paul Melchiorre of Ariba quoting a Marketing Sherpa study).
What it means...
Need to engage with buyers before you begin selling, participate in the conversation, watch for trigger alerts, answer questions on social media sites, offer valuable content. Make sure reps have access to an ‘A’ prospect list with automatic trigger event alerts.
2. Build followers and your database
30% of data in your database churns every year. (Brett Wallace of ZoomInfo quoting Serius Decisions)
What it means...
Understand the ramifications: you don’t know which 30% needs refreshing. Can you afford to lose 30% of your contacts every year due to out-dated contact details? Consider hiring a database provider to perform a complete database refresh – kill dead contacts, update existing ones, and add net new. When evaluating solution providers, ask for a sample of 5,000 contacts and conduct a test email.
4 Take-Aways You Don’t Want to Miss
Free Webinar Next Week
Keeping up with the pace of business requires a variety of skills. Lynn Ferrara, CCP, Senior Director of Global Compensation for Hertz Brian Hartlen, Vice President for Varicent.
Hear the story of implementation from the RFP to real life deliverability of Sales Performance Management (SPM) at Hertz.
They will discuss the challenges and the new abilities the Hertz team has gained to address the changes in business.
This session will identify the challenges and benefits SPM Solutions can provide from a real life example with Hertz. It will also convey the lessons of moving forward once the initial solution is in place.
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