Noted Analytics

Tomorrow, Feb 1 at 2 PM ET. Matt M Walsh will introduce the "3 layers of Sales Execution Success" model. Can't miss this if you want see your company hit your 2024 objectives!

Mark you calendar for 2 PM ET next Thursday... Our own Matt M Walsh is running a session on Sales Execution. How we should... DEFINE it MEASURE it ALIGN it to outcomes It's time to get maniacal about how we run sales in 2024! Join the party, link below!

At the heart of sales execution lies this question... is everyone on the same page? Let's break down: - what Sales reps learn from prospects - what Manager ask about on sales opportunities - what fields are asked to be need updated in CRM How well are these 3 aligned? Without alignment, there's NO WAY revenue teams can effectively execute. #salesforce #meddic #gapselling

Why aren't we focused on cloning our best sales managers? A good rep can work on a set number of accounts in a year. Let's say that number is 40 opportunities. The average front-line manager ~7 direct reports. That means they impact 280 opportunities. What are the best sales managers even doing? According to the data we see from our customers here at Noted... the best managers are focused on OPPORTUNITY REVIEWS. They are running opportunity reviews EARLY in the sales cycle... 🏆 Like, after the first discovery call 😬 versus waiting for the deal to be in the forecast and it can't be fixed They are RATING the information in CRM... 🏆 to ensure that it meets the level of depth/detail to move the prospect 😬 versus treating CRM fields like a 'check-the-box' excercise They are providing FEEDBACK on how reps can improve the deal... 🏆 with specific detail on how build a stronger case for change 😬 versus just applying more pressure on reps to "close, close, close"! What are teams doing today to capture what the BEST sales managers are going? #salesforce #meddic #gapselling

How would this change your team's behavior? A SPIFF for sales execution. Like a quarterly award given to the AE that follows the sales process. Or even more drastic... a multiplier or diminisher to commission payments! Either way, having a incentive to follow the process that is more than just saying "trust the process" may have legs. Sales strategy is ART and SCIENCE. As far as the science piece goes, this would sure give you a whole lot more data to see how the process is working! What do you think, could this work?

How can you measure the success of an opportunity with something that's COMPLETELY in the sales reps control? Enter the sales execution score. It's a score on the QUALITY of the information the rep captures on why the prospect will take action. Think about it, a properly run sales process moves the prospect to take action (i.e. no 'do nothing' or 'status quo' result). There's more to the sales opportunity than JUST THE OUTCOME. Because there's a massive flaw in measuring success by the outcome alone. We can't possibly know HOW are doing UNTIL THE END. "What gets measured, gets managed", right? If the only measurement is captured when the deal is closed, then the management can only be applied when the deal is closed. That's why formal management practices like 'post-mortem' opp reviews and 'Close Lost' analysis are so popular. And it's why current deal management practices like opportunity reviews are: - informally run (each manager defines what 'good' looks like) - inconsistently held (usually only review in quarter deals). 😬 It's also a reason why our win rates are decreasing and 40% of opportunities fall to 'do nothing'. To be successful in 2024 we need to manage opportunities better. Before they close. While there is still a chance to course-correct. To do that, we need to rethink our approach to how we measure opportunities beyond just the outcome. Try measuring sales execution as a metric and see how it correlates with win rates, average sales prices, and sales cycle duration.