Recovering From the Miss: 4 Tactics to Make the Number this Quarter
Recovering From the Miss: 4 Tactics to Make the Number this Quarter:from Sales Force Effectiveness Blog
It’s been a rough couple of quarters for the VP-Sales. Your 2012 finish was below average. SKO got your team fired up for 2013 and a new start. Now the first Quarter is done, but you missed the number again. Greg Alexander’s blog post yesterday provides some compelling statistics. 41% of B2B companies missed the Q1 Revenue target. Your career was built on being able to make things happen. Now, you find yourself in a very uncomfortable situation. The goal for the next 90 days is crystal clear – make the number. With 2 strikes (two missed quarters), the 3rd could very well mean that you’re out.
90 days can fly by. Depending on your average sales cycle, everyday counts. Your team needs daily focus on the opportunities, activities, and actions that matter most. This blog will cover 4 ways to help you make the number this quarter.
1. Flip the Sales & Marketing Funnel
Yes, flip the funnel. By flipping the funnel you can focus on the opportunities that are furthest along.
We’re accustomed to focusing on the Sales & Marketing funnel in the traditional view. Traditional, meaning large to small – new inquires leads, and then opportunities. This is usually the most effective strategy, but not today. Today you need to shake things up. “Flip the funnel.”
This quarter isn’t about planning ahead. It’s about one thing – making your number. You need to convert early and often. All energies need to be on the opportunities that are projected to close this quarter. You should ask yourself a few questions to properly attack this:
- Is the number you projected for this quarter (back 30+ days ago) achievable?
- Did any opportunities move up or out during this Quarter? If so, what’s the impact?
- If your current pipeline is lower than your number, what opportunities in the next quarter can be reviewed for acceleration?
- Do I have enough opportunities to make the number?
- What large deals will make or break this quarter?
- Who owns these opportunities?
2. Deal Importance and Value
Knowing the make-up, value, and effort for opportunity projections is crucial this quarter. Not all deals are created equal. Is this quarter’s success dependent upon 100 individual average size deals? Or 50 average size deals and 2 mega deals? Or will 3 mega-deals and 25 average deals make the difference? This knowledge will impact how you allocate your time and the organizations.
- Sort this quarter’s deals by value and strategic importance
- Sort again by area and front line leader
- Determine potential risk and upside
- Get your strategy for How to Review the Big Deal
3. Determining the Right Resources
Not every deal projected for this quarter will need help. The key is knowing which deals require additional involvement. Or, more importantly, who on your team will benefit from some help. Making this quarter’s number should be an ongoing team effort. Everyone needs to contribute or you won’t make it. Are you leveraging all of your available resources effectively? There are lots of people who could help close this quarter’s big deals:
- CEO, CFO, and VP-Product Management
- Reference customers
- VP-Sales (You)
- Regional VP or other Directors
- What about your sales support resources? Solutions Engineers? Solutions Consultants? Business Consulting? Professional Services?
Your direct and on-going involvement will be critical to making the number this quarter (not to mention every quarter moving forward). You’re the VP-Sales – if you can’t move the needle, who can? What is your “Look to Book” Ratio? You need to find key meetings to participate in. Pinpoint the key questions to ask on a weekly basis for those “must win” deals. Develop a weekly meeting cadence that improves productivity.
Making the number is never easy. It’s even harder when the pressure is on. Use the tools in this blog to give you the boost you need. Don’t be afraid to shake things up – that could be just what your team needs.
Author: Tony Albachiara
Follow @TonyAlbachiara
Follow @MakingTheNumber
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