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HOW TO
Beat your Sales Quota
for the year
Agenda
• The landscape
• Biggest Obstacles to achieving sales quota – focus of
this presentation on Bad Leads & Not having engaging
conversations
• Lead life and how it affects measurement/performance
• Lead processing costs in time and budget
• Bad Leads negatively impacting revenue generation
• How successful companies deal with leads
• Is your sales team communicating with Prospects?
PROPRIETARY & CONFIDENTIAL ©2015 VOICEREACH.
Source: Forrester, Gartner, Sirius Decisions, HBR report
Today’s Revenue Generation Landscape:
Increased digital marketing spend; Missed revenue goals
$32B
Industry spend
on marketing
Automation/CRM
in 2019
78%
Consumers
un-subscribed
from brand
emails
54%
Of sales reps
Won’t meet
quota
Leads/
conversion
#1
Marketing
priority
Leads/Conversion #1 Marketing priority
“Improving the quality of leads generated is
a top priority for 77% marketing influencers,
ahead of all other lead generation goals.”
Source: Survey by Ascend2
What is Data Quality?
• Incomplete – Leads that lack enough data to be marketable/actionable
• Duplicates – Separate leads on the same individual/contact
• Unstandardized leads – Leads that contain valid, complete info, but whose
field formatting is at odds with your marketing automation or CRM instance
and, thus, rendered unmarketable
• Integrity - how accurate the relationships between data elements and data
sets are
• Accuracy - whether the data accurately describes the properties of the
object it is meant to model
• Relevance - whether or not the data is appropriate to support the objective
• Non-compliant – Leads that were generated in a manner adverse to
regional laws and regulations, and are subject to penalties
Cost of Bad Data
• On average
Corporate data
grows 40% per
year
• Approximately
25% of Average
database is dirty
The cost of bad data ranges from $50 to $100; using $50
per bad record, look at the astronomical costs of bad data
Consequences of Bad Data
• Obstructing the prospect/customer experience
• Hindering marketing efficiency
• Reducing the reliability of measurement and analytics
• Preventing marketing & sales teams and businesses
from hitting revenue goals
• Driving up database usage fees
• Decreasing team moral and harming interdepartmental
relationships
• Opening the door to costly legal fines and fees
How to eliminate bad leads
• Identify your specific lead quality problems
• Develop a lead quality support strategy
• Ensure you have lead quality checks in place
• Cleanse/Append your database employing high quality
vendors
• Know your campaign objectives and focus on highly
relevant and accurate data
• Source from few reliable, relevant data vendors
Your Demand Generation Pipeline
• Inbound
– Web
– Email
– Content Downloading
– Events
– Partners/Channels
• Outbound
– Phone out reach – Surveys, Appointments, Demos…
– Events drive
– Renewals
70%
B2B Hi-tech
Companies now
have
Inside Sales
Org.
Insufficient leads from Inbound drives need for Outbound
PROPRIETARY & CONFIDENTIAL ©2015 VOICEREACH.
On average 70 dials per sales rep
only 4 to 6 conversations
achieved
Daily
Source: The Bridge Group – Sales Development Report 2014 Metrics
The #1 Challenge for Inside Sales
PROPRIETARY & CONFIDENTIAL ©2015 VOICEREACH.
Digital era demands better dialing solutions
Auto Dialers
Maximizing Dials &
Efficiency
Cloud-based Dialers
Introduced SaaS &
Data integration
Cloud-based Agent
Assist Dialers
Conversations
bypassing IVRs & VMs
Serial Dialing Parallel Dialing Conversations
matter
PROPRIETARY & CONFIDENTIAL ©2015 VOICEREACH.
Sales Quota - Know your Numbers
Sales Quota & Resourcing Your SDR Team
How many prospects do you need to engage? Annual sales goal from new customers $2,000,000
Value of average sale $25,000
Number of new sales needed 80
Close Ratio 6%
Number of new opportunities needed 1,333
Conversations required per opportunity 5
Total conversations required 6,667
Calls required to engage one conversation 5
Total calls required to generate required opportunities 33,333
Your Revenue Forecast with current SDR Team
# of SDRs you currently have 3
Working days per year 247
# of hours worked per day 8
Avg. # of dials per day per SDR 50
Avg. # of Conversations per day per SDR 6
Annual # of Dials possible with current team 37,050
Annual # of Conversations current team can achieve 4,446
New Opportunities Generated 889
Annual # of New Sales Deals Generated by SDR 53
Total Annual Revenue Generated by current SDR Team 1,333,800
Likely Revenue Variance for the year -666,200
PROPRIETARY & CONFIDENTIAL ©2015 VOICEREACH.
Sales Quota - Know your Numbers
Sizing Your Sales Team Total # of new deals required to achieve sales quota 80
# of Conversations possible with current SDR team 53
Shortfall in # of deals required -27
# of SDRs needed to achieve sales quota 4.5
# of new SDRs you need to hire 2.0
Budgeting for your Sales Development Team
Sales Compensation and Overhead Average sales person salary $60,000
Add percentage for overhead, taxes, software 40%
Fully loaded cost of SDR $84,000
Total annual cost for entire SDR Team $420,000
# of contacts required 8,333
Cost per prospect contact $1.00
Cost of acquiring data $8,333
Annual Sales Enablement Tool (dialer etc.) Cost per SDR $2,000
Total Sales Enablement Tool cost for entire dept. $10,000
Total SDR Dept. Cost $438,333
Revenue per SDR $444,600
Cost Per Dial $13.2
Cost per Conversation $65.75
Cost per Deal Closed $5,479.17
PROPRIETARY & CONFIDENTIAL ©2015 VOICEREACH.
Summary
• Marketing and sales alignment
• Start with numbers – what you need to achieve your annual goals
• Focus on Quality of Data
– Highly relevant and accurate data
• Use of most advanced dialing technology
• Sales is both a science and an art
• Best of luck!

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Nexsales sales expo presentation v2020

  • 1. HOW TO Beat your Sales Quota for the year
  • 2. Agenda • The landscape • Biggest Obstacles to achieving sales quota – focus of this presentation on Bad Leads & Not having engaging conversations • Lead life and how it affects measurement/performance • Lead processing costs in time and budget • Bad Leads negatively impacting revenue generation • How successful companies deal with leads • Is your sales team communicating with Prospects?
  • 3. PROPRIETARY & CONFIDENTIAL ©2015 VOICEREACH. Source: Forrester, Gartner, Sirius Decisions, HBR report Today’s Revenue Generation Landscape: Increased digital marketing spend; Missed revenue goals $32B Industry spend on marketing Automation/CRM in 2019 78% Consumers un-subscribed from brand emails 54% Of sales reps Won’t meet quota Leads/ conversion #1 Marketing priority
  • 4. Leads/Conversion #1 Marketing priority “Improving the quality of leads generated is a top priority for 77% marketing influencers, ahead of all other lead generation goals.” Source: Survey by Ascend2
  • 5. What is Data Quality? • Incomplete – Leads that lack enough data to be marketable/actionable • Duplicates – Separate leads on the same individual/contact • Unstandardized leads – Leads that contain valid, complete info, but whose field formatting is at odds with your marketing automation or CRM instance and, thus, rendered unmarketable • Integrity - how accurate the relationships between data elements and data sets are • Accuracy - whether the data accurately describes the properties of the object it is meant to model • Relevance - whether or not the data is appropriate to support the objective • Non-compliant – Leads that were generated in a manner adverse to regional laws and regulations, and are subject to penalties
  • 6. Cost of Bad Data • On average Corporate data grows 40% per year • Approximately 25% of Average database is dirty The cost of bad data ranges from $50 to $100; using $50 per bad record, look at the astronomical costs of bad data
  • 7. Consequences of Bad Data • Obstructing the prospect/customer experience • Hindering marketing efficiency • Reducing the reliability of measurement and analytics • Preventing marketing & sales teams and businesses from hitting revenue goals • Driving up database usage fees • Decreasing team moral and harming interdepartmental relationships • Opening the door to costly legal fines and fees
  • 8. How to eliminate bad leads • Identify your specific lead quality problems • Develop a lead quality support strategy • Ensure you have lead quality checks in place • Cleanse/Append your database employing high quality vendors • Know your campaign objectives and focus on highly relevant and accurate data • Source from few reliable, relevant data vendors
  • 9. Your Demand Generation Pipeline • Inbound – Web – Email – Content Downloading – Events – Partners/Channels • Outbound – Phone out reach – Surveys, Appointments, Demos… – Events drive – Renewals 70% B2B Hi-tech Companies now have Inside Sales Org. Insufficient leads from Inbound drives need for Outbound
  • 10. PROPRIETARY & CONFIDENTIAL ©2015 VOICEREACH. On average 70 dials per sales rep only 4 to 6 conversations achieved Daily Source: The Bridge Group – Sales Development Report 2014 Metrics The #1 Challenge for Inside Sales
  • 11. PROPRIETARY & CONFIDENTIAL ©2015 VOICEREACH. Digital era demands better dialing solutions Auto Dialers Maximizing Dials & Efficiency Cloud-based Dialers Introduced SaaS & Data integration Cloud-based Agent Assist Dialers Conversations bypassing IVRs & VMs Serial Dialing Parallel Dialing Conversations matter
  • 12. PROPRIETARY & CONFIDENTIAL ©2015 VOICEREACH. Sales Quota - Know your Numbers Sales Quota & Resourcing Your SDR Team How many prospects do you need to engage? Annual sales goal from new customers $2,000,000 Value of average sale $25,000 Number of new sales needed 80 Close Ratio 6% Number of new opportunities needed 1,333 Conversations required per opportunity 5 Total conversations required 6,667 Calls required to engage one conversation 5 Total calls required to generate required opportunities 33,333 Your Revenue Forecast with current SDR Team # of SDRs you currently have 3 Working days per year 247 # of hours worked per day 8 Avg. # of dials per day per SDR 50 Avg. # of Conversations per day per SDR 6 Annual # of Dials possible with current team 37,050 Annual # of Conversations current team can achieve 4,446 New Opportunities Generated 889 Annual # of New Sales Deals Generated by SDR 53 Total Annual Revenue Generated by current SDR Team 1,333,800 Likely Revenue Variance for the year -666,200
  • 13. PROPRIETARY & CONFIDENTIAL ©2015 VOICEREACH. Sales Quota - Know your Numbers Sizing Your Sales Team Total # of new deals required to achieve sales quota 80 # of Conversations possible with current SDR team 53 Shortfall in # of deals required -27 # of SDRs needed to achieve sales quota 4.5 # of new SDRs you need to hire 2.0 Budgeting for your Sales Development Team Sales Compensation and Overhead Average sales person salary $60,000 Add percentage for overhead, taxes, software 40% Fully loaded cost of SDR $84,000 Total annual cost for entire SDR Team $420,000 # of contacts required 8,333 Cost per prospect contact $1.00 Cost of acquiring data $8,333 Annual Sales Enablement Tool (dialer etc.) Cost per SDR $2,000 Total Sales Enablement Tool cost for entire dept. $10,000 Total SDR Dept. Cost $438,333 Revenue per SDR $444,600 Cost Per Dial $13.2 Cost per Conversation $65.75 Cost per Deal Closed $5,479.17
  • 14. PROPRIETARY & CONFIDENTIAL ©2015 VOICEREACH. Summary • Marketing and sales alignment • Start with numbers – what you need to achieve your annual goals • Focus on Quality of Data – Highly relevant and accurate data • Use of most advanced dialing technology • Sales is both a science and an art • Best of luck!