This eBook will walk you through the 18 keys of building your Sales 2.0 machine. Each key, successfully integrated, will help you improve the essential Sales 2.0 metrics: volume, velocity, predictability, scalability, LTV (Life Time Value), and CAC (Cost of Customer Acquisition).
Sales 2.0 defines a completely new, non-adversarial, value-driven relationship built on collaboration, integrity and value. Sales 2.0 fundamentally changes how and why buyers and sellers interact. As the traditional 1.0 sales model crumbles, becoming untenably expensive, slow, and unpredictable, it's now essential that EVERY sales organization adopt Sales 2.0 and relentlessly focus on these essential metrics to remain competitive.
The 18 keys outlined in this eBook focus on optimizing your sales and marketing success from demand generation at the top of your funnel through sales 2.0 closing techniques at the bottom of your funnel. Topics include scaling inside sales, leveraging sales automation tools, lowering sales complexity, social selling, growing leads at lower cost through inbound marketing, measuring ROI throughout your funnel, and sales management 2.0. Learn how to build your high-performance Sales 2.0 engine by successfully integrating the right technology, process, people and culture.
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18 Keys to Revving up Your Sales 2.0 Engine - by Bryan Ferguson
1. To
Your
Keys Engine
Bryan Ferguson
www.linkedin.com/in/bryanrferguson
2. Introduction
This SlideShare is a summary of 18
Keys to Revving up Your Sales 2.0
Engine.
To download the complete eBook,
which includes detailed analysis,
charts and recommendations, visit
the following link:
http://www.amazon.com/Keys-Revving-
Sales-Engine-ebook/dp/B008NWT742/
3. What is Sales 2.0?
Sales 2.0 has transformed the way best-in-class sales organizations
benchmark and elevate sales performance.
4. What is Sales 2.0?
Unifying a new mix of people, culture, processes, and technology,
Sales 2.0 is turning the enigmatic art of sales into a precision science –
dramatically increasing revenue at lower cost.
Sales 2.0 People
Integrating sales, marketing and operations to focus on processes,
technology, problem solving, and building real value for customers.
Sales 2.0 Processes
implementing sales and marketing processes that are measurable,
repeatable, and scalable, and which can be optimized over time
Sales 2.0 Technology
Optimizing sales and marketing activities from prospect nurturing, to
process automation, to helping reps to work smarter and more effectively.
Sales 2.0 Culture
Fostering an agile and collaborative environment built on best in class
Sales 2.0 Engine Powered By:
technology, measurable processes, and customer success.
Successful integration of people,
culture, processes and technology
5. The 6 Essential Sales 2.0 Metrics
Best in class sales organizations are deploying Sales 2.0 best practices
to dramatically improve performance. They are focusing on the
following metrics.
Increasing LTV (Life Time Value) Decreasing CAC (Customer
Overcome product commoditization Acquisition Cost)
by selling expertise and long term Overcome sales complexity by
customer success optimizing ROI on all marketing and
sales processes
Increasing Volume Increasing Velocity
Overcome sales bottlenecks by Overcome lengthy sales cycles by
measuring and optimizing funnel establishing value clarity early and
conversions embracing just-in-time-selling
Increasing Predictability Increasing Scalability Overcome
Overcome irregular sales output by growth limitations by maintaining a
making the components of the sales healthy CAC to LTV balance as
engine measurable and repeatable volume increases
6. What is Sales 2.0?
As the traditional sales model crumbles, becoming untenably
expensive, slow, and unpredictable, it's now essential that EVERY
sales organization adopt Sales 2.0 and relentlessly focus on these
6 Essential Metrics to remain competitive.
This guide will walk you through the 18 Keys to Revving up Your
Sales 2.0 Engine and how each key, successfully integrated, will
dramatically improve the 6 Essential Sales 2.0 Metrics.
7. 1) Shift Towards Inbound Marketing
Inbound Marketing leads are
Traditional
less expensive, close faster, and Marketing
are more scalable.
Inbound marketing pulls your prospects in
with valuable and relevant content, earning
their trust and attention. They find you.
Inbound leads generally arrive Sales Ready
(key 12) – they are educated, trusting, Inbound Marketing
engaged and self-qualified. They typically
close faster, close at a higher percentage,
and have a higher LTV (Life Time Value).
Shift a greater part of your marketing budget and attention towards
generating inbound leads. Develop compelling, relevant and highly valuable
content for the key personas in your sales process.
8. 2) Expand the Role of Inside Sales
Inside sales has become more cost Outside Sales
is expensive
effective for selling remotely, selling in
volume, selling over the web, and
selling to today’s Web 2.0 buyer.
With Today’s Web 2.0 buyer seeking anytime,
anywhere engagement over the phone, web, and
social channels, face to face meetings are increasingly
expensive and out of sync with buyer expectations.
Inside sales is rooted in processes which are
measurable, repeatable, and scalable. Inside sales is
more cost effective selling remotely and in volume
even for complex B2B sales. Lower CAC with Inside Sales
Where possible move outside sales processes and activities to inside sales
and inside sales to self-service to dramatically lower customer acquisition
costs.
9. 3) Lower Sales Complexity
As the complexity of selling your product increases, the CAC (Cost
of Customer Acquisition) increases exponentially
Sales complexity is a leading cause of high CAC, a lead weight around any business in a
competitive market.
Complexity Type Description
Product Complexity Hard to understand, evaluate, configure, test, and review your product
Purchasing Complexity Multiple people must be part of evaluation, decision and purchasing; contracts are
complex and often custom
Value Complexity Difficult to connect product value to complex buyer problems; ROI hard to calculate;
hard to create urgency with product or solution
Price Complexity Difficult to present, comprehend, and negotiate pricing
Process Complexity Sales process is slow, rigid, and labor intensive
Risk Complexity Solution carries high cost of failure
Deployment Complexity Solution affects many people and departments and require time
Do whatever it takes to simplify the complexity of your product and sales
process to accelerate sales and lower overhead.
10. 4) Optimize Sales & Marketing Processes
The Sales 2.0 process mindset: Execute
execute, measure, optimize and
repeat
You’ve heard it before: “What can’t be measured Measure
can’t be improved.” One of the core tenants of
Sales 2.0 is taking quantifiable and repeatable
processes in BOTH marketing and sales and Optimize
making them better over time.
Process optimization is identifying and
standardizing the best practices that are Repeat
repeatable and scalable.
Review marketing processes (lead acquisition, lead nurturing, campaigns,
etc.) and sales processes (call and email effectiveness, lead qualification,
opportunity conversion). Determine how to measure, optimize and scale
your sales and marketing processes.
11. 5) Measure ROI on Everything
Raw numbers tell you how to manage effort;
ROI tells you how to maximize revenue
Raw numbers
Traditional sales organization generally measure raw
numbers, such as the number of activities and the number of
results. Raw numbers allow you to make simple
generalizations, but they don’t tell you the cost effectiveness
of your activities and how to optimize conversions.
ROI is a more effective measurement, which calculated on
the right metrics, shows you how optimize revenue on your
marketing budget and sales activities.
Connect your raw number to trends and ROI to focus effort and maximize
revenue. When calculating ROI in your funnel, learn how the following impact
your numbers: lead source, lead type, lead age, campaign, company size,
salesperson, industry, region, etc.
12. 6) Empower Your Team with Sales Automation Tools
Sales CRM
Download eBook for recommendations
Sample Sales 2.0 Tools
Turn selling from a slow moving art to a
Account Intelligence
fast moving science
Marketing Automation
Sales process automation is the foundation of your
Account Mapping
high-touch, high-efficiency process-driven sales 2.0
superstars. Social Networking
Sales Forecasting
Select the right automation and intelligence tools to
Sales Enablement
empower your team to sell faster, smarter and more
predictably. These tools are also critical to matching Web Conferencing
Web 2.0 buyer expectations of persona-driven Contracts
nurturing (key 13), anytime, anywhere engagement, Enterprise Networking
and expert business guidance (key 15).
Instant Messaging
Your new Sales 2.0 tools will only be effective in the hands of the right people
in the right culture. Ensure you Sales 2.0 leaders are effective change agents
as they empower your team with the right sales automation tools.
13. 7) Turn Marketing 1.0 to Marketing 2.0
With the ability to measure and monetize
conversions from the beginning of the
funnel, Marketing 2.0 has shifted from cost
center to revenue source Monetize Every
Conversion
Marketing 2.0 has reinvented the role of marketing. Like
Sales 2.0, Marketing 2.0 focuses on technology, processes
and metrics and tracking conversions from source to sale.
Marketing 2.0 practitioners are no longer just a cost center
– they are accountable for sales success and have a stake in
the revenue.
Marketing 2.0 successes is no longer based on the quantity of raw leads, it is
responsible for engaged, contactable, marketing qualified Sales-Ready leads.
Building a Marketing 2.0 department is essential to the success of your sales
organization.
14. 8) Fine-Tune Marketing Automation
Leads are not featureless commodities
Lead Development Stages
Lead Capture
gauged by quantity – they are the
Lead Cleansing & Backfill
lifeblood of your company that require
expert management and cultivation Lead Nurturing
through marketing automation. Lead Behavior Tracking
Ensure that you have a clear understanding of what
defines a Sales Ready lead, what data is required at Lead Scoring
each stage of your marketing process, and how to
Lead Distribution
track conversions. Ensure that you have a tight
feedback loop between sales and marketing (key 17) Lead Revenue Analysis
to improve the quality of Sales Ready leads (key 12).
Marketing automation, plus nurturing, scoring, and feedback equal more
revenue at lower cost.
15. 9) Target Buyer Personas
Profile
Sample Persona Map Areas
Sell to your prospects buying process,
Pain/Anxiety
not your sales cycle
Motivation
Your goal is to engage prospects as they prefer, not
Position Success Factors
how you prefer, to optimize your message for each
type of person (persona) in their buying process. Engagement Preference
Desired Action
If you don’t understand your buyers (who they are,
Buying Progression Stages
what motivates them, why they buy from you, where
they acquire information online and offline) then it is Messaging/Call to Action
recommended that you start by surveying your Objections & Responses
customers and create a persona map and a product Content & Nurtures
positioning document.
Map out the personas in your marketing and sales processes, connecting
their motivations to the right messaging, resources, and sales activities.
Develop persona-driven collateral and messaging for the areas each persona
acquires information.
16. 10) Nail Your Ideal Customer Profile
Sample Criteria for ICP
It is almost impossible to excel at Sales Annual Revenue (company)
2.0 without a well-defined ICP (Ideal
Industry (company)
Customer Profile) that drives marketing
and sales focus # of employees (company)
Your Ideal Customer Profile (ICP) defines what type of Business Characteristics
company or buyer is the best fit for your product or (company)
service in terms of sales velocity, CAC, and LTV. Your ICP
is the segments of the market that stand to benefit the Title (buyer)
greatest from adopting your solution. The goal is to
target the type of customer where you win the most and Initiatives (buyer)
build your demand generation, lead nurturing, lead
Role in Purchase (buyer)
scoring, and content around this profile.
Your Sales 2.0 strategy requires an accurate ICP (Ideal Customer Profile) so
you are focusing on the right target for maximizing profit by increasing deal
velocity, lowering CAC and increasing LTV.
17. 11) Build a Core Team of A-Players
Sales 2.0 teams have the right mix of A-players are the solution
high performance A-players in each
department that are driven,
innovative and collaborative.
Consider the 80/20 principle when building your
team. 20% of the people produce 80% of the
results. The 20% are your A-players. They are the
ones proactively seeking out and overcoming your
most daunting business challenges, leading
innovation, and forging the collaborative culture
required to build your Sales 2.0 organization.
Build a core group of A-players in sales, marketing and operations that works
well together. Your core team will focus their passion and energies on your
highest priorities, mastering Sales 2.0 processes and technology, and building
real value and solutions for your customers.
18. 12) Focus on Sales Ready Leads
Marketing programs that measure and
optimize the quality of sales ready
leads result in higher ROI
A sales-ready lead is best defined as a 1) prospect in
your target demographic profile 2) who is actively
evaluating your product as a 3) potential solution to
address an existing business problem.
Your Sales 2.0 team should be focused on moving
engaged prospects through the final stages of your
sales cycle, not on foraging for prospects in Focus on Sales Ready Leads
mountains of demographically unqualified leads.
Lead scoring, once fine-tuned, will identify prospects that match your Ideal
Customer Profile, that are genuinely interested in your solution to fulfill a
legitimate business need. Focusing your Sales 2.0 team on Sales Ready Leads
will result in significantly higher ROI.
19. 13) Use Multi-Touch Demand Creation
A smart mix of mediums and messages Multi-modal
over multiple sales cycles will yield the Email Events
Content Marketing Social Media
most opportunities. Phone Contact Direct Mail
Success with Sales 2.0 demand creation increases
dramatically by engaging leads with highly valuable, Multi-media
relevant and captivating materials. The goal of lead Whitepapers Guides
nurturing is to maintain a relevant and consistent dialog eBooks Newsletters
Articles Videos
with viable future customers – regardless of their timing
Blogs Case Studies
to buy.
Webinars Interviews
Marketing should deploy a smart mix of mediums and
messages over multiple sales cycles to generate a sales Multi-cycle
ready lead (key 12). Short Term Mid-Term Long-Term
Ensure your lead nurturing efforts are built on attractive and highly valuable
content tailored to your core personas and leverage multiple forms of media
systematically over multiple sales cycles.
20. 14) Sell Socially
Web 2.0 prospects are buying from people
and brands they know, like and have
relationships with online. They are buying
socially. Social is a faster and more cost-
effective way of making sales.
The social revolution has given sales reps a new way of
connecting with prospects. Integrated into your Sales
2.0 machine social media will enable your team to sell
more, in less time, with lower cost.
Social selling allows your Sales 2.0 team to leverage Web 2.0 buyer behavior
and minimize the high cost of leads. Consider using social selling tools to
listen to, educate, engage, and sell to your prospects socially.
21. 15) Train Line-Of-Business Experts
Salesperson 2.0 (LOB Expert)
Web 2.0 information sharing
Today’s 2.0 salesperson is able to
LOB expert acting as P2P
overcome buyer detachment by providing consultant
real value at each interaction – by Customer success centric sales
process
correctly understanding a buyer’s
Solution based discovery
complex business challenges and
Expert diagnosis
connecting them to a solution and Presentations only to validate
roadmap for success. value
Connecting complex value to
Product-focused salespeople offer little worth to today’s complex problems
buyers seeking collaborative guidance on mission critical Help the buyer drive the sale
decisions. Salespeople who don’t provide LOB expertise internally
have lost control and have commoditized their product. Integrity driven
A well trained Sales 2.0 LOB expert is able to analyze and understand the
causes, consequences, and cost of their customer’s problems. They shift the
focus from the product to the customer’s objectives, improve value clarity and
urgency, and build significant trust and credibility.
22. 16) Perfect Your USP (Unique Selling Proposition)
Craft a captivating, disruptive, laser- You are not everything to
Rules for Crafting Your USP
everyone!
honed USP that won’t be ignored
Know your competition
Too many organizations have a lazy, ambiguous USP that
fails to articulate why someone should do business with
What do you better than
them. A good USP provides value clarity for your brand, everyone else?
excites potential buyers, and clearly positions your
offering as superior to your competitors. What is overwhelmingly
compelling about your
Develop a USP that cuts through the clutter and product or service?
positions your brand as the unmistakable best and
Make it short and concise
ONLY choice.
Turn some heads
A well-crafted USP is one of the best vehicles for engaging and providing
value clarity to new prospects. Integrate your USP into all marketing and
sales messaging.
23. 17) Unite Sales and Marketing
A “Smarketing” union of sales and Sales and marketing join forces to
Examples of “Smarketing”
measure and improve conversion
marketing talent, process, technology, and rates throughout the funnel
culture is the key your Sales 2.0 funnel Sales and marketing focus on lead
quality and jointly develop quality
In Sales 2.0, the overlap between marketing and sales is standards.
huge: both are focused on conversions and velocity in the Sales and marketing collaborate on
funnel; both are obsessed with metrics and ROI; and both optimizing messaging and collateral
are accountable for revenue generation. for each persona at each stage in the
funnel.
Smarketing talent must collaborate incessantly and work Sales and marketing become experts
well together, must be fluent in each other’s disciplines, in each other’s disciplines; they speak
the same language.
must integrate their core technologies, and must
genuinely focus on the success of the customer. Sales and marketing technology are
integrated and seamless.
Sales and Marketing are now intertwined and have become “Smarketing.”
They are both are accountable and rewarded for optimizing conversions
throughout the funnel.
24. 18) Embrace Sales Management 2.0
Your Sales 2.0 Manager is a different
Examples 2.0 Manager
Instinct validated by metrics
breed – a hybrid mix of marketing and Provides baselines, clear objectives
and the room to execute on the
sales talent, system smarts, and goal- objectives
oriented leadership. Measures results over style; focused
on improvement of results
To succeed with Sales 2.0 you need Sales 2.0 Manager.
Entire team successful, predicable and
Your Sales 2.0 Manager knows how to develop sales manageable
techniques that are measurable, repeatable, and
scalable, and which can be optimized over time. Your Uses technology to empower
Sales 2.0 Manager knows how to leverage sales Hires LOB experts
technology for optimizing every sales activity. Your
Applies best practices
Sales 2.0 Manager hires and trains LOB expert that sell
by connecting value to complex problems. Individual and team goals
The Sales 2.0 Manager is an involved, information sharing, metric driven,
process and goal-oriented leader in touch with the needs of his team.
25. Summary
While building a solid Sales 2.0 foundation requires the right people, technology,
discipline and a lot of hard work, it is critical in today’s selling climate to make this
transition. Aim to integrate the 18 keys outlined in this guide into your Sales 2.0
transition plan to see your high-performance sales organization takeoff.