When you hit your bookings number you may chalk it up to a rep's last minute heroics or a particularly important deal "that made the quarter." But there's always an underlying reason for why things broke the way they did. Often, the seed was planted several quarters ago.Read More
Sales Operations: Six Factors for Measuring Your Success
Sales Operations is a multi-faceted role that intersects many aspects of the business. It’s an incredibly broad position and you’ve probably had your hand in everything from developing pipeline metrics and sales forecasts, to implementing sales methodology and maintaining the weekly sales cadence, as well as working between Sales and Finance on budgets and planning.
Then, there are the initiatives like delivering sales training and playbooks, rolling-out sales tools and technology, and configuring CRM. Finally, there’s the tactical day-to-day work like brokering peace treaties between Sales and Marketing, as well as providing analysis, analysis and more analysis.
So, the big question is, how do you quantify Sales Ops’ success? Keep reading for six factors to consider when measuring this.
2 Sales Comp Plans to Get AEs and SDRs Crushing It
An effective sales compensation plan strikes the fine balance between simplicity and sophistication. It's smart enough to drive sales rep behavior, and the financial outcomes you need, yet it's easy to understand to get reps selling with gusto!
To help you on the path to comp plan nirvana, we've created 2 sales comp plans (in Excel) so you can see them in action and adapt them for your own use. One is for AEs and other for SDRs.
MISS OR MAKE YOUR NUMBER? EITHER WAY, REFLECTION IS KEY
You survived the Holidays and the year-end crunch to close deals (as our Founder, Jon Kondo, writes about here). As you begin a new year, it is a great time to reflect on how well your sales planning processes worked over the past year.
Did you miss or adjust your target? If you made your number, did you make it according to the original plan you built at the beginning of the fiscal year or did you have to react and make adjustments throughout the year?
Most of us likely had to make changes during the year in response to a range of situations such as market changes, delays in key deals, unplanned attrition or longer times-to-hire than we originally planned for.
Reflection on your plan and your approach to planning could mean better results in the year ahead.
Do you know what ramp time is really costing you?
We all understand that losing a productive seller has a cost. When a sales manager loses a seller from their team, they lose productive selling time, both in terms of being short of quota carrying head count and the time spent recruiting and hiring a replacement. Many experts estimate that the cost of replacing a sales person can exceed 150% of their annual salary.
Then there is the cost of the new hire ramp. Once a replacement is hired, how long does it take your company to get them up to speed and fully productive? What does that cost you from a bookings perspective?
Let's look at a simple example to illustrate.
The Need For Speed...The Need For Revenue
What do you see on your speedometer?
I sat in traffic on 101 realizing I'd be lucky to hit 45 mph – not exactly the adrenaline-filled 140 mph I once dreamed of when I saw the speedometer in the showroom. It got me thinking… Car speedometers are dual purpose: they tell you how fast you're going and they also sell a vision of how fast you could go without any inhibitions. We value their practical function (safe driving, fuel economy) and subconsciously appreciate the aspirational feelings they conjure (luxury, freedom).
The same applies to the real purpose of sales quotas.