Five of Spades: Defining your corporate sales strategy: Setting Clear Sales Objectives and Goals: Establish targets to drive sales team efforts.

Five of Spades: Defining your corporate sales strategy: Setting Clear Sales Objectives and Goals: Establish targets to drive sales team efforts.

Crafting a Resonant Sales Symphony: The Power of Clear Objectives and Goals

In the vast ocean of corporate strategy, the sales department functions much like a ship’s heartbeat, rhythmic and essential, setting the pace for the vessel’s journey. But what, or who calibrates this pulse? How do we ensure that this heart doesn’t race uncontrollably or, worse, skip a beat? CEOs and sales managers would concur that the answer is embedded in well-articulated sales objectives and goals. These are not just arbitrary figures or lofty dreams but are methodically set coordinates guiding the trajectory of sales initiatives.

Imagine, if you will, a vast orchestra. Each instrument represents a member of the sales team. The orchestra’s conductor, analogous to a CEO or sales manager, needs well-composed sheet music, sales objectives, and goals to guide the symphony. Without it, the melody could quickly descend into chaos. Now, consider a ship embarking on a voyage. Its captain sets a destination (the sales objective) and interim stops (sales goals) for resource replenishment. This sequential approach ensures the journey remains on track, no matter how tumultuous the seas are.

Such analogies underscore a simple yet often overlooked truth: the nuances between objectives and goals matter. It’s not just a matter of semantics but strategy. Indeed, companies that distinctively lay out both show a staggering 28% improvement in sales team performance. These figures aren’t mere data points but are a testament to the intertwined psychology and methodology behind sales targets.

However, charting this path is not without its challenges. Aiming too high can be as dangerous as setting sights too low. The former can overshadow the team with an impending sense of inaccessibility, making the climb appear insurmountable. On the other hand, the latter risks inducing a sense of complacency, stifling the potential of a talented sales force.

But how does one strike that impeccable balance? The key, I believe, lies at the intersection of retrospection, analysis, and anticipation. A thorough evaluation of past performances acts as a foundation. For instance, projecting a 50% growth based on the previous year’s 15% without significant infrastructural changes might lean towards fantasy. Furthermore, a finger on the pulse of market trends helps set realistic ambitions. Resources, often a limiting factor, need to be meticulously assessed. Remember, monumental objectives warrant monumental resource allocations. A CEO’s arsenal should also incorporate frontline feedback, an often underutilized yet invaluable asset. And as the sands of the marketplace continually shift, maintaining flexibility in these objectives and goals is paramount.

These defined objectives and goals do more than merely set targets. They breathe life into the organization. They synergize scattered efforts, fostering a culture where ambition thrives, and accountability is cherished. It transforms every deal, every pitch into a cog in the grand machinery of corporate growth.

Setting clear sales objectives and goals is akin to crafting a masterpiece symphony. Each chord, each note, when harmonized, weaves an enchanting melody. CEOs and sales managers, as the chief architects of their organizations, possess the potential to orchestrate this. And in the dynamic dance of sales, where the only constant is change, these well-defined objectives and goals don’t just serve as a compass—they become the essence of the journey. Because the goal, after all, is not just to increase sales but to understand the depth, the method, and the purpose behind it.

Two Tall Guys Talking Sales Podcast – Know Your Customer: Mastering Buyer Personas in Modern Sales – Episode 48

Two Tall Guys Talking Sales Podcast – Know Your Customer: Mastering Buyer Personas in Modern Sales – Episode 48

Welcome to another episode of Two Tall Guys Talking Sales with your hosts, Kevin Lawson and Sean O’Shaughnessey. In this riveting episode, we take a deep dive into the often talked about but seldom mastered topic: Buyer Personas. Whether you’re listening on a Tuesday drive back home or on a Wednesday morning commute to work, this episode is packed with actionable insights to set you up for the rest of your week, month, and quarter. Tune in to find out how to create accurate buyer personas that can help you make smarter sales and marketing decisions.

📝 Key Topics Discussed:

  • Defining Buyer Personas: Kevin and Sean explore what a buyer persona really is and why it’s crucial for sales success.
  • The Importance of SWOT Analysis: Kevin explains that creating a buyer persona isn’t a one-off task; it begins with understanding your SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis.
  • Ideal Client Profiles & Unique Selling Proposition: Why understanding these can help fine-tune your buyer personas.
  • Digging into Demographics and Psychographics: How to gather and utilize this data to develop detailed buyer personas.
  • Quarterly Business Reviews (QBRs): Sean shares insights into who should be involved in these reviews and the type of questions that can help enrich your buyer personas.

🗨️ Key Quotes:

  • “If you’re out there and wondering how to get this process started, thinking that you’ve already done a SWOT analysis…now’s the time to talk about buyer personas.” – Kevin Lawson
  • “Salespeople are valuable. Salespeople are important to the sales process. And it is your job to teach your company about your customers.” – Sean O’Shaughnessey
  • “Salespeople are great people day in day out. We shouldn’t have to pay a tax because of bad salespeople doing bad things in the marketplace.” – Kevin Lawson

📚 Additional Resources:

🎧 Why You Should Listen:

Crafting an accurate and effective buyer persona isn’t just a task; it’s an art. This episode provides not only the theory but also the actionable steps you can take to create buyer personas that resonate with your target market. From initial concepts to understanding your customer needs during a QBR, Kevin and Sean have packed this episode with tools you can use immediately. Listen now to avoid the pitfalls and fast-track your way to sales success.

Ready to revolutionize your sales approach? Hit that download button and tune in now! 🎧

Two Tall Guys Talking Sales Podcast – Navigating Your Sales Pipeline: Effective Strategies for Conversion Success – Episode 37

Two Tall Guys Talking Sales Podcast – Navigating Your Sales Pipeline: Effective Strategies for Conversion Success – Episode 37

On this insightful episode of Two Tall Guys Talking Sales, co-hosts Kevin Lawson and Sean O’Shaughnessey dive into a crucial aspect of successful sales: managing and organizing a sales pipeline.

Episode Highlights:

  1. The Pipeline Mess: Sales pipelines, just like a room full of kids’ sports gear, can often become chaotic. Sean and Kevin discuss the importance of maintaining a clear and clean pipeline for better sales results.
  2. Salespeople vs. Customers: Sean brings attention to an essential difference between a prospect exploring an idea and a prospect making a purchase. Just because a customer is talking to a salesperson doesn’t mean they’re buying.
  3. Clarifying Sales Terminology: Kevin emphasizes the importance of using correct terminology. He defines a lead as a piece of data and a prospect as someone engaged in an active sales discussion. Establishing this common language helps untangle potential confusion in the pipeline.
  4. Understanding the Buying Process: Sean explains the importance of knowing where you stand with the customer. He suggests asking, “Does the prospect know they’re buying something?” If the answer is no, it may still be early in the buying process.
  5. Economic Buyer and Decision-making: Both Sean and Kevin delve into the role of the Economic Buyer, who can control a budget and make purchasing decisions. They illustrate how understanding the different roles within the buying process can optimize the sales strategy.
  6. Goals vs. Pain: Sean warns against focusing solely on pain points and emphasizes that it’s essential to consider the customer’s goals. The failure to achieve a goal can often be a bigger pain point and, therefore, a more significant motivator to make a purchase.

Listen to the episode to get actionable advice on managing your sales pipeline effectively. Ideal for sales leaders, business owners, and salespersons, this episode is packed with insights, real-life experiences, and strategies to boost your sales results. If you’re looking to tidy up your pipeline and refine your sales strategies, this episode is a must-listen.

Influence and Advocacy in Sales: The Impact of Coaches and Champions

Influence and Advocacy in Sales: The Impact of Coaches and Champions

Every successful sales process relies on a deep understanding of the many moving parts within the targeted organization. Key among these are the internal influencers who can significantly shape the trajectory of your sales campaign. In the realm of sales, two roles stand out: ‘Coaches’ and ‘Champions.’ Both can impact your process differently, so a firm grasp on who they are, what they do, and how to engage with them can be pivotal for your sales success.

MEDDPICCC is an evolution of the MEDDIC sales qualification methodology that’s proven to be particularly effective for B2B enterprise sales organizations. At its core, the MEDDPICCC methodology aids organizations in ensuring they are working on the right deals and concentrating their efforts effectively to secure wins​.

MEDDPICCC extends the MEDDIC acronym to include an additional ‘P’ for Paper Process, ‘C’ for Competition, and ‘C’ for Coach. The inclusion of the ‘Paper Process’ reflects the increased complexity in technology purchasing compared to the past. Factors such as the shift from perpetual licenses to subscription agreements and enhanced data security and privacy requirements have intensified the contractual obligations between vendor and customer. Consequently, the ‘Paper Process’ has emerged as a significant factor influencing sellers’ forecasts, warranting its inclusion in the methodology​.

The second addition, ‘Competition,’ acknowledges the intensified competitive landscape in the current era. Competition can come from various sources: new companies emerging rapidly with the help of modern technology, other vendors vying for the same budget and resources, potential in-house solutions, or the choice to maintain the status quo. Understanding and navigating these competitive elements are critical to a seller’s forecast accuracy and deal success, thus necessitating the inclusion of ‘Competition’ in MEDDPICC​C​.

The third addition to MEDDPICCC is ‘Coach,’ and it is added to understand that there are frequently those people in an organization that will give you knowledge and advice about the sales opportunity, but they do not rise to the level of a Champion. One of the biggest mistakes a salesperson can make is confusing a Coach with a Champion. They may be your advocate and are pushing your product or service to other influencers in the account, but don’t let that confuse you. Without true power and the ability to sway the final decision with the Economic Buyer, you merely have an influencer. Let’s make no mistake; a Coach is also very important in a deal. They are a “guide” that you typically have more access to and can generate imperative touchpoints that help keep the deal moving forward.

In essence, MEDDPICCC is a comprehensive, strategic framework that equips sales teams with the necessary tools and insights to identify and pursue the most promising opportunities effectively, navigate the intricate contractual landscape, and outperform the competition. By adopting and mastering the MEDDPICCC methodology, less experienced salespeople can enhance their sales performance and contribute significantly to their organization’s success.

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Two Tall Guys Talking Sales Podcast – Mastering Mid-Year Reviews: The Sales Perspective – Episode 35

Two Tall Guys Talking Sales Podcast – Mastering Mid-Year Reviews: The Sales Perspective – Episode 35

In this enlightening episode of “Two Tall Guys Talking Sales,” Sean O’Shaughnessey and Kevin Lawson delve into the fundamental aspect of setting clear expectations in sales, mirroring the way parents do with their children. With mid-year reviews around the corner, it’s time to reflect, analyze, and readjust your sales strategies.

Kevin starts with a compelling anecdote about his childhood bedtime routine to explain the critical importance of clear communication and setting expectations. The duo emphasizes that salespeople and leaders must carry the same burden to ensure success. They then transition into discussing data, people, and customers, shedding light on how they interplay in the sales ecosystem.

Sean broadens the conversation to the art of adaptation and how market changes could necessitate mid-year modifications to sales processes. This aspect is brought into sharp focus with the unprecedented disruptions caused by the Covid-19 pandemic. Both hosts agree on the necessity of data-informed decision-making, underlining the importance of balancing past performance with future potential. They delve into the aspects contributing to understanding a customer’s potential, including market changes and various environmental factors.

Kevin and Sean also touch upon the essentiality of upskilling the sales team, the significance of coaching, and the benefit of taking a hard look at individual performance. The conversation concludes with a detailed discussion on data analysis, with both hosts advocating for leveraging your CRM system for a thorough assessment of your sales process, the documentation, and the distribution of deals.

So, whether you’re a seasoned salesperson or new to the game, this episode is filled with vital insights that you can incorporate into your sales strategy, setting you up for success in the latter half of the year.

Leadership Styles Differ Based on the Situation: Sales Growth vs. Sales Recovery 

Leadership Styles Differ Based on the Situation: Sales Growth vs. Sales Recovery 

By Sean O’Shaughnessey & Kevin Lawson

As B2B-focused businesses navigate the ever-changing landscape of a post-COVID economy, sales leaders must adopt and institute strategies to meet the demands of a business in growth or recovery mode. 

While the goal for a sales organization may be to sustain the growth trajectory aligned with organizational goals, the year-over-year approach to achieving success can vary significantly. Sales leadership styles depend on the current situation, the starting point, and the existing team charged to accomplish the goal. Good sales leaders find a way to achieve the annual goal; great sales leaders find ways to achieve the goal and systemize the process to allow for repeatable growth, pivots, and rapid scale.      

Growth Focused Leadership

Sales leaders focused on growth must proactively identify new market opportunities, verticals, geographies, platforms, or sales talent. They must invest in new sales channels and technologies, along with onboarding and training programs to support the growth of their sales teams and the acquisition of new client relationships.

When sales teams are in a breakout stage of growth, it can be challenging to gain the discipline to systems and alignment on processes and approaches due to the nature of managing client expectations on a wildly rising revenue outlook. This situation demands that all of the skills of a sales leader be applied consistently and strategically across the team and sales practices.  

Seasoned leaders know that hiring for an increased workload and rapidly scaling teams can be tempting. However, this approach can often lead to problems down the line. Further, we must suppress the desire to hire quickly instead of exercising patience in finding the right candidate to continue to scale teams and culture appropriately. That patience means we must endure the short-term challenges of being under-resourced and under a great deal of pressure to keep performing as if we already had the resources on the team.  Instead, it is essential to focus on finding the right candidate who will not only be able to handle the current workload but also contribute to your team’s culture and help your organization achieve long-term success. Take the time to vet candidates carefully and consider not only their skills and experience but also their values and how they fit into your team’s dynamic. By prioritizing quality over speed, you’ll set your team up for success in the long run.

Another important consideration when building a team is to prioritize scalability. It’s easy to get caught up in your organization’s immediate needs and hire for the present moment, but it’s crucial to think about how your team will grow and evolve. Look for candidates with the potential to take on new responsibilities and leadership roles as your organization expands. Consider investing in training and professional development programs to help your team members acquire new skills and stay up-to-date with the latest industry trends. By prioritizing scalability, you’ll be better equipped to adapt to changing business needs and continue to achieve success over the long term.

Discipline to proven systems is essential for leadership and having transparent KPIs and organizational goal communications. The rigor and discipline of a sales leader in a growth cycle are particularly demanding. One primary concern for leaders in this mode is talent loss due to competitive pressures to grab your resources for their growth. It would help if you had experience and discipline for these growth moments.

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Fractional Executives: The Cost-Effective Solution for Small Businesses in Need of Expertise

Fractional Executives: The Cost-Effective Solution for Small Businesses in Need of Expertise

Fractional executives are experienced professionals who work part-time or on a project basis, providing expertise and guidance to help businesses achieve their goals. Often, small businesses need more resources and expertise, making it difficult for them to achieve growth and success. While hiring a full-time executive may not be feasible due to the costs involved, fractional executives can provide a cost-effective solution to this problem. 

A fractional executive differs from a consultant, but the difference may confuse some. Typically, a consultant will provide advice and guidance, but they are separate from your company. A fractional executive works alongside your team, helps in company operations, and is responsible for the outcomes of those operations. They are an extension of your existing leadership team. In most instances, a fractional executive provides all of the responsibilities to your company as a full-time executive.

Cost-effective Expertise

One of the most significant benefits of using fractional executives is cost savings compared to a full-time employee with a similar amount of experience. Hiring a full-time executive can be expensive. Fractional executives work on a part-time or project basis, meaning companies can save money by only paying for the services they need. Additionally, businesses can avoid the costs of recruiting, hiring, and training a full-time executive.

As explained in the FRACTIONALS UNITED BLOG, it is essential to explore the cost of an FTE (full-time employee) compensation plan compared to fractional monthly retainers. The data is eye-opening!

According to data gathered (March 2023) by Salary.com, the median (50th percentile) core compensation (salary+benefits*) for the following C-Suite leaders is as follows:

  • Chief Financial Officer (CFO)- $558,999 ($46,583/mo) + 22% bonus
  • Chief Operating Officer (COO)- $622,672 ($51,889/mo) + 23% bonus
  • Chief Marketing Officer (CMO)- $464,651 ($38,720/mo) + 25% bonus
  • Chief Revenue Officer (CRO)- $408,619 ($34,051/mo) + 12% bonus
  • Chief Technology Officer (CTO)- $387,001 ($32,250/mo) + 15% bonus
  • Chief Human Resources Officer (CHRO)- $449,340 ($37,445/mo) + 25% bonus
  • Chief Talent Officer (CTAO)- $337,197 ($28,099/mo) + 20% bonus

Bonus comp and equity cash totals were excluded from this comparison since both are variable compensation, only sometimes guaranteed. The average percentage offered was noted instead.

The average monthly retainer for fractional executives starts at around $5,000 and goes upwards to $15,000 per month. Retainers vary depending on the experience, scope of work, and level of hourly commitment per month (i.e., 25%, 50%, or 75% commitment to the team/company). The retainer may be higher if the professional has more years of experience, is in high demand, or if the organization is in a large metropolitan area.

If we assume that any given fractional executive discipline is $10,000 per month, then:

  • Fractional CFO – 21% of an FTE
  • Fractional COO – 19% of an FTE
  • Fractional CMO – 26% of an FTE
  • Fractional CRO – 29% of an FTE
  • Fractional CTO – 31% of an FTE
  • Fractional CHRO – 27% of an FTE
  • Fractional CTAO – 26% of an FTE
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Two Tall Guys Talking Sales Podcast – Part 2 of Communicate Your Value Proposition to Win More Deals with Kelly Crandall of Sales Xceleration and Next Level Strategies – Episode 25

Two Tall Guys Talking Sales Podcast – Part 2 of Communicate Your Value Proposition to Win More Deals with Kelly Crandall of Sales Xceleration and Next Level Strategies – Episode 25

Kelly Crandall returns to Two Tall Guys Talking Sales for her second episode in two weeks. Kelly is an expert in sales after working in the corporate world, running a small business, providing Fractional Sales Leadership for her customers in Florida, and now is the Visionary for Sales Xceleration. 

This episode centers around building a strong value proposition and creating a sales strategy that resonates with customers. In this particular episode, the topic of discussion is the third area of the sales process and how it can help build trust with customers.

Kelly has agreed to stick around for the second episode, where she focuses on the validation needed to create trust.

A great sales strategy starts with answering the questions of why act and why act now. Then answer the question of why choose us. Then you need to validate that your product solves the problem so that you can have the conversation about trust (because #b2bsales is simply the transferring of the trust from the sales team to the prospect). The hosts and the guest emphasize the importance of covering all three areas to create a strong value proposition.

Kelly explains that proof is the key. Salespeople should be authentic, transparent, and empathetic while using data and statistics to support their claims. Testimonials, case studies, and stories help build trust with customers. The goal is to anticipate objections and provide proof in advance.

Salespeople transfer their trust in the product to the prospect. The hosts also explain that salespeople sell three things: the product, the company that makes the product, and themselves as salespeople. Building trust is an essential part of the selling process.

Validation events can be expensive for young companies. Owners should help get customer testimonials and create case studies to leverage for future sales pitches.

This podcast episode provides a comprehensive overview of creating trust and how it can help build customer revenue. Kelly emphasizes the importance of covering all three areas to create a strong value proposition. She provides practical tips on using proof to build trust and anticipate objections.

This podcast episode is a valuable resource for anyone looking to improve their sales strategy and build a stronger value proposition.

Leading Your Sales Team to Success: 5 Best Practices You Need to Know

Leading Your Sales Team to Success: 5 Best Practices You Need to Know

In today’s highly competitive business environment, sales leaders play a crucial role in the success of their organizations. They are responsible for setting sales targets, creating effective sales strategies, and motivating their teams to achieve their goals. However, being an effective sales leader requires more than just setting targets and motivating your team. This article will explore the five best practices of effective sales leaders.

1. Set clear and achievable goals.

One of the primary responsibilities of a sales leader is to set clear and achievable goals for their team. Setting goals is critical to keeping your team focused and motivated. With clear goals, your team will know what they are working towards and may be able to achieve the results you expect.

When setting goals, it’s essential to make them SMART – specific, measurable, achievable, relevant, and time-bound. 

  • Specific goals are clear and well-defined. 
  • Measurable goals allow you to track progress and determine success.
  • Achievable goals are realistic and within reach. 
  • Relevant goals align with your organization’s overall objectives. 
  • Time-bound goals have a deadline or timeframe for completion.

Setting SMART goals gives your team a clear direction and purpose. This guidance helps them focus their efforts on the activities that will help them achieve their objectives.

2. Develop a sales strategy.

Once you have set your sales goals, the next step is to develop a sales strategy. A sales strategy outlines your team’s approach to achieving its goals. It includes the tactics and activities that your team will use to reach its targets.

Your sales strategy should be based on deeply understanding your market, customers, and competitors. It should also take into account your organization’s strengths and weaknesses. A good sales strategy is flexible and adaptable. It allows your team to adjust its approach based on the market or changes in customer needs.

When developing your sales strategy, it’s essential to involve your team. Your sales team has firsthand knowledge of your customers and their challenges. You can tap into their expertise by involving your team in the strategy development process and gain buy-in for the approach.

3. Provide ongoing training and coaching.

Sales is a dynamic and constantly evolving field. To be successful, your sales team needs ongoing training and coaching. Ongoing training helps your team stay up-to-date with the latest industry trends and best practices. It also helps them develop new skills and techniques that can help them close more deals.

Coaching is equally essential. Sales coaching helps your team identify areas for improvement and develop strategies to overcome challenges. It also gives your team feedback and support, helping them stay motivated and focused.

You must understand your team’s strengths and weaknesses to provide effective training and coaching. This requires regular communication and feedback. Regular one-on-one meetings with your team members can help you identify areas for improvement and develop tailored coaching plans.

4. Foster a positive team culture.

Sales can be a high-pressure and stressful environment. To be successful, your team needs to work well together and support each other. This requires a positive team culture.

A positive team culture is built on trust, respect, and collaboration. It’s a culture where team members feel valued and appreciated. It’s also a culture where team members feel comfortable sharing their ideas and opinions.

As a sales leader, you are critical in fostering a positive team culture. You need to lead by example and model the behaviors you want to see in your team. You also need to encourage open communication and provide opportunities for team members to collaborate and work together.

5. Use data to drive decisions.

Finally, effective sales leaders use data to drive their decisions. Data provides insights into your team’s performance and helps you identify areas for improvement. It also lets you track progress toward your goals and make informed decisions about your sales strategy.

To use data effectively, you need the right tools and systems. This includes a robust CRM system that captures and tracks critical sales metrics such as leads, opportunities, and pipeline value. It also provides analytics tools to help you analyze your data and gain insights into your team’s performance.

Data can also be used to optimize your sales process. By analyzing your sales data, you can identify bottlenecks and areas where your team struggles. This allows you to develop targeted interventions to improve performance.

Effective sales leaders use data to continuously improve their sales process and drive results. They are always looking for ways to optimize their approach and stay ahead of the competition.

Being an effective sales leader requires a combination of skills and practices. It requires setting clear and achievable goals, developing a sales strategy, providing ongoing training and coaching, fostering a positive team culture, and using data to drive decisions. By following these best practices, sales leaders can motivate their teams and drive results. They can also create a culture of continuous improvement that allows their organization to stay ahead of the competition.

Header image by Tumisu from Pixabay