The Fallacy of Best Practices
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Created by Dawn Poulos & Ashleigh Early.
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The Fallacy of Best Practices
- 1. The Fallacy of Best Practices Ashleigh Early, Vendition Dawn Poulos, ColdPressed
- 2. THOUGHT LEADER A thought leader proposed a new idea or strategy PROLIFERATION More companies adopt and share "Worked for me!" VALIDATION Industry leaders share the idea or anecdotes where it worked FAILURE Other companies adopt ang the tactic fails - "Why us?" WHERETHEY COMEFROM
- 3. SHORT TERM WIN Don't sacrafice long-term gains for short term wins. eg. Burning prospects with phone calls CAUSAL AMBIGUITY Sales cycles are complex - Can you isolate your results from other variables? GOING VIRAL Just because you see 10 posts on Linkedin from brilliant people doesn't mean it will work for you! IT WORKED BEFORE Just because it worked at another company or last year doesn't guarantee success now! Why They Fail
- 4. Success breeds complacency. Complacency breeds failure. Only the paranoid survive. ANDY GROVE
- 5. SOURCE - VORSIGHT Outbound focused SDRs should be able to set one qualified meeting a day for their sales teams A MEETING A DAY
- 7. DATA 81% Direct Dials 95% Have Research ACTIVITY 120 Dials/Day Add 11 contacts/Day MEETINGS Targeting Directors/VPs 4.3 conversations/day
- 8. SHORT TERM WIN What will happen to your team and prospects call volume is doubled? Do you have enough people to call? CAUSAL AMBIGUITY Is there a big marketing campaign at the same time? GOING VIRAL Is the buyer the same? Is the industry IT WORKED BEFORE Was the % direct dials the same? Are buyers at the same step in the journey?
- 9. WILLITWORK FORUS? COMPANY Sales Process Industry/ICP Brand Recognition DATA What's my direct dial %? What % of your list is bad data? TOOLS What tools did they use?
- 10. ...EVERYONE An SDRs primary objective should be to secure time with qualified prospects for an AE/Sales Rep SDRS SHOULD SET MEETINGS
- 11. DAWNASHLEIGH VS.
- 12. MEETINGS SDRs qualify inbound or outbound prospects and once criteria is met schedule time with trained AE OPPORTUNITIES REVENUE SDRS should not decide what is or isn't an opportunity - AEs trained to "close" More opportunities means more revenue!
- 13. SHORT TERM WIN More meetings means more opportunities? CAUSAL AMBIGUITY Meetings mean revenue! Maybe we raise or lower the qualification? GOING VIRAL What else could an SDR be goaled on besides meetings? IT WORKED BEFORE 95% of companies in our space use this model!
- 14. WILLITWORK FORUS? COMPANY What is the overall win rate? How can we expand awareness and product quality? PRODUCT What makes our product "sticky"? Where is the conversion breakdown? DATA What data points coorelate to a "win"? What is the conversion % at every step pre and post SDR?
- 15. Let the data dictate what the best practice is... FOR YOU
- 16. MATCH TO PERSONA No such thing as one script! Create as many paths to buying as possible. UNDERSTAND YOUR SALES CYCLE BE PARANOID Your product dictates influences the sales cycle –free trials are sold differently than enterprise software. Operate with an attitude of “Trust but verify” – you can try anything but let the data tell you what works Take-Aways
- 17. JOHN BARROWS LINK HUBSPOT LINK WINNING BY DESIGN LINK
Notas do Editor
- Intros How many of you have received the following email: “Can you pass me off to someone in your organization?” “Are you being chased by an alligator” “Who’s the best person for me to speak with to see if there’s a fit” If everyone is doing it – Does it still work? How can a best practice work at so many diverse organizations. IT CAN’T. DAWN MATTERMARK EXAMPLE
- ASHLEIGH – So how does this happen? Thought leaders = Best self promoters
- WAYS BEST PRACTICES FAIL ASHLEIGH – Short term win – Burn Prospects DAWN – Causal Ambiguity Ashleigh – It Worked Before, “My last company” DAWN – Going Viral – if everyone else is doing it, DON’T
- ASHLEIGH LAYS OUT DATA/SITUATION
- ASHLEIGH LAYS OUT DATA/SITUATION
- DAWN – WHY THIS DOESN’T WORK
- Both Dawn – The reason they had success was they had a known name. Adjust if you don’t. Ashleigh – TOOLS – 120 dials a day is aggressive without a dialer and impossible if SDRs have to research Dawn – Few companies mature marketing which can automate research Ashleigh – Sales Process – If you rely on free trials or inbound , you should have more than 1 meeting a day!! WORKS AS STATED FOR MAYBE 10% COMPANIES WITH SDRS
- How many in the room have quotas which at least in part are based on meetings? ASHLEIGH SET UP STORY
- DAWN Explain why trails/engagement over meetings ASHLEIGH explain hesitation – opaque results for SDRs, impossible to see if they were on track or not
- SDR-AE push pull on qualification SDRs rewards were misaligned with customer needs – stalled sales cycle!
- Short term – Meetings easier to track, but stalled the sales cycle and kept people out of platform Causal Ambiguity – Meetings didn’t correlate to revenue, trial activity did! It worked before – Ashleigh had never goaled on anything but meetings…and it worked at a simple level but not complex. Going Viral - ….everyone does meetings…
- DAWN – Doing meetings mis-aligned SDRs with customer needs. Worked for 1 AE but not for the other dozen because 1 persona. Worked for VC’s also because it had the best product market fit – therefore willing to wait. Where product market wasn’t aligned any delays caused them to look for competition – 2 day delay between call and meeting meant a no-show because they got free trial somewhere else.