One of the latest high tech sales terms I have heard recently while working with VC companies to help improve their portfolio companies sales performance is sales motions. Defining the sales motion properly adds predictability to the revenue stream, as well as scale-able revenue growth, but let's look at what a sales motion might consist of. The two most understood concepts that exist today are sales process and sales methodology. When you combine these two into a playbook with activities and goals, you can get a sales motion.
I read this quote from Trish Bertuzzi’s book, the sales development playbook.
“Coaching is not a component within the sales manager role; managing is now a component of the new coaching role.”
It got me thinking about a current client and the realization they did not have a formal way to operationalize coaching skills for their front line sales leaders. This is a much deeper subject than a short blog article, but I wanted to cover one critical aspect for front line sales leaders that highlights the difference between managing and coaching.
Elite sales leader, Mark Cranney, now with Andreessen Horowitz, talks about MEDDIC qualification in the context of the sales process at the FORECAST 2016 event in the bay area. For a more in depth view on Forecasting with MEDDIC, see Mark's article published here on the Andreessen Horowitz blog site.
With all the statistics about prospects being 60% of the way through a buying process before they contact a rep, where are the studies that show what many experienced enterprise sellers realize; that 50% of prospects fail to select the best solution?
Why? One large contributing factor is that many prospects fail to consider their unconsidered needs. They end up creating an RFP based on what they know internally. The “commoditized conversation” is forced by the RFP process - see the below graph from Corporate Visions.
From a sales leadership perspective, one of the benefits to the common language of the MEDDIC qualification methodology is that you can enable your sellers to win fast, and get out of a deal that will not close, faster. From a seller perspective, that begs the question, I could now use more new quality leads and assistance in identifying great lead fits for contacts lying dormant in marketing automation tools or CRM to offset my new superior qualification skills.. For those readers unfamiliar with the MEDDIC methodology click here for a brief description of each element. When applied, the MEDDIC checklist lets you know what is missing and what activity should be next to fill the gaps.
This is a summary from a Hubspot blog that was so relevant, we just had to publish the list. The link to the entire article can be reached by clicking here
As the buyer’s environments become increasingly complex and the internet provides more information to buyers, the account executive can experience becoming just a meeting host with only the ability to keep the pricing information hidden from the prospect until the time is right. Although the buyers are very happy they can research solutions to business problems without engaging with a sales rep, at some point they can benefit from a market educated account executive who can explain what other customers have done, explore the prospects current environment and suggest adoption paths that fit the prospects unique situation based on the account executives experience with other companies.
This week the CEO of iSEEit had the pleasure of interviewing Jack Napoli, the ‘Godfather’ of the MEDDIC qualification methodology.For those of you who aren’t familiar, MEDDIC is the most effective qualification methodology for complex b2b high tech sales environments.
At the Sales Meddic Group, we are always on the lookout for fresh ideas about the B2B complex sales process including thoughtful insights, process clarifications or just an intelligent simplification on the art of selling to large companies in complex (multiple-buyer) sales environments.
According to Neil Rackham, 87% of sales training content is lost after 30 days. How can you stop this loss of investment? Are there better ways to improve sales performance and knowledge? Article originally posted by iSEEit.
I’m sure you’ve experienced this before: your employer spends hundreds of thousand of dollars to get all customer-facing sales reps together and ‘brainwash’ you on the latest product updates, sales techniques and SOX-compliance rules.
SMG | MEDDIC Sales