These questions highlight critical alignment or lack thereof between Sales and Marketing, but we’ll expound on that topic in a future post.  We’ll also shelve the aspect and importance of “lead qualification” for a later date.  However, I cannot utter “leads” without a mention of the best “sales” movie ever, Glengarry Glen Ross…“I need the good leads!”

Back on topic, lead distribution and its importance is often under-estimated.  Does your organization consider immediacy of response?  I humbly submit it goes to “first impression” and everybody knows what that means.  Anecdotally, I have seen timely response typically begets a positive reaction; whereas a molasses-like response is often associated with lackluster impression.  It isn’t all about response-times; having the wrong person follow up could, would and should frustrate the prospect.  So, how do you ensure the right person follows up on the right lead?

Surprisingly, many organizations fail to document lead allocation workflow.  It’s a critical process and will translate into quantifiable value.  Analyze your process and compile all your lead sources; enable self-qualification (if possible) by prospects; map and distribute leads by roles, responsibilities and subject-matter-expertise.  Superfluous cycles and leakage related to lead management can be extremely costly!

Executed and administered properly “team selling” will beget deeper definitions of your overall account and win strategies.  If you are like most, you are reluctant to weave others into your sales cycles but that practice may be foolhardy.  At the end of the day, if you are a good quarterback (who doesn’t love a good sports metaphor) you’ll call the shots but you will incorporate more eyes and ears to reach consensus on what it takes to win the day.

However, there is nice and easy way to proselytize and evangelize even the most complicated organization.  First, compile extensive business intelligence – know your prospect and the issues/pressures they face internally and externally, market share, etc.  Second, create a customized Executive Brief which is similar in format to a business plan but designed to articulate exactly how your organization can help their organization and why they should partner with your company.

These days everybody saves the tree and sends an email, but if you can print out fancy color collateral handouts it is impressive and bodes well.  The trick is having a “coach” who creates the groundswell such that it captures mind-share across the enterprise, especially in executive circles.

Depending on given autonomy or lack of process, managing your sales territory will have myriad elements from lead generation to qualifying opportunities to gaining access to decision makers to developing compelling proposals with ROI, all which ultimately culminate in closing.  A symphony is similar in that it is a combination of instruments and movements.

With today’s CFO-governed control over spending, it is incumbent upon Sales to build pipeline with future budgets in mind.  The likelihood that you can turn a deal around without going through some kind of annual budget and funding process is fairly low.  Therefore, a best practice for territory management and developing predictable sales performance is to seed future fiscals.

It requires patience, but it pays dividends.

However, many companies confuse exactly who owns and prosecutes a given sales opportunity.  This is akin to having too many cooks in the kitchen.  The process of selling should be left to the Sales department, including its leadership.

Sales revenue is jeopardized when opportunities are managed by non-focused Sales reps, such as Consultants.  The problems are lack of focus, lack of instincts, and lack of experience for starters.

So why do so many organizations ask their non-Sales employees to sell?  It is a short-sighted strategy to accelerate revenue, whereas the real trick is to foster a company culture that makes everybody accountable for supporting sales, but through the Sales department.

Best practice: sales rep owns all pricing discussions

Since a majority of companies adhere to a January-December fiscal calendar, yesterday probably marks the final day of Q4.  I presume congratulations are in order.  Hopefully, you avoided sandbagging as well as the potentially disastrous combination of over-promising and under-delivering.

Have a great new year!

However, published org-charts are by default static and often dated.  What you really need is something more dynamic complemented with “inner circle” secret insights.  Therefore, per your “coach” at the executive level request an “internal” org-chart and review it with them.  These typically exist, but are not frequently shared.

Don’t believe me?  In a sales capacity, I once managed a global account relationship with 3M Company.  Although I would describe my role as a “program management office” my charter was sell, sell, sell.  By establishing “trusted” rapport with a then “rising star” vice president from the largest of 3m’s six business segments, I obtained an “internal” org-chart which thoroughly broke down all the pertinent players (with pictures) across 100+ business units.

A list of names would not have dramatically increased likelihood of success; however my “coach” highlighted specific areas of opportunity within strategic business units as well as corresponding executive sponsors.  With his help, propagating success was predictable and expedited.

File this under “intelligence marketing” and through this best practice realize the adage “time is capital.”

Business intelligence can loosely be defined by qualifying as “good or bad” business.  Prospects (or shall I say “suspects”) should be subject to “scoring” prior to dedicating significant sales resources.  Many companies use A|B|C nomenclature to establish priority, for example.  Other variables such as “three-year revenue horizon” offer strategic insights.  Again, more goes into qualifying business than just potential revenue.  There is after all business that should be avoided.  Business intelligence should help expedite that determination.

Business intelligence also leverages myriad sources of information from internet search to annual reports and beyond.  In the current information age there is almost too much information.  Therefore, protect against being paralyzed by excessive business intelligence.  Used wisely it plays to your advantage, but otherwise not.

On a positive note, this does hold people accountable at the individual-level and should by default reduce redundancies.

However, there are drawbacks such as the following:

1. Subject-matter-experts (SMEs) are hard to find since everybody has seemingly been thrust into a sales role

2. Non-sales-skilled individuals have “been thrust into a sales role” such as consultants

3. Team sales collaboration is mandated which is often less than harmonious when selling into a shared installed base

Divide and conquer is an intelligent design, but requires savvy sales leadership and company-wide consensus.