Lead to Money: It’s Not Complicated
We were looking to get CallidusCloud C3, our annual user conference, off to a big start. With 750 registered attendees on hand for President and CEO Leslie Stretch’s opening keynote address and another 1,200 watching the live stream online, we can say mission accomplished.
Stretch had a new message for the assembled crowd: “It’s all about Lead to Money. It’s not complicated,” he told them. While sales managers are struggling with sales forecasts, sales people want to have better outcomes.
“This is about getting you those outcomes.” He said.
Four Big Things
He said there are four big things driving changes in sales today:
- The rise of mobile as a ubiquitous engagement vehicle
- Competition in operating systems and the fall of Windows
- Big data that can produce meaningful results
- Apps simple and fast enough to satisfy Generation Y
What Is Lead to Money?
Lead to money, he said, can be simplified to Marketing Automation – Sales Enablement – Sales Quotes and Configuration – Compensation – Money
“It’s about getting people to the sale faster,” he said.
A Sales Performance Management Refresher
Peter Ostrow, Vice President and Group Director of Customer Management and Principal Analyst of Sales Effectiveness for Aberdeen Group, joined Stretch on stage to deliver some fresh statistics to underscore the importance of Sales Performance Management and Sales Enablement.
Ostrow said that according to Aberdeen’s research, best-in-class sales organizations:
- Attain 105% of quota
- Have well over 80% of reps meeting or exceeding quota
- Achieve 14.9% revenue growth
- Cross-train their sales teams with marketing 44% of the time
- Have a centralized repository of assets and sales tools for sales and marketing (92%)
- Figure out the buyer’s journey in order to cement the selling process
Ostrow then moderated a panel on Sales ROI with Brian Greenberg of Verizon, Diane Weigand of Motorola Solutions and Anubhav Saxena of HCL.
Saxena explained that HCL used LeadFormix to improve its marketing automation to increase growth seven times and achieve highest-ever customer acquisition even during the worst global recession since the 1930s.
Weigand said Motorola committed to aligning the sales process with the customer buying process to turn the company around.
Greenberg said Verizon saved 28,000 hours of productivity per year by improving its sales process. Verizon also experienced 26% cost reduction and $8 million in additional profit utilizing CallidusCloud Commissions.
Ostrow said these process improvements underscore the importance of putting the sales rep at the center attention. “Everything we do has to be about the customer, even if we’re not touching the customer in our role.”
Information Sharing Improves Productivity
Sales people don’t share information, the panelists agreed. So how do you make them share information? He asked Weigand. That, she said is a good question. For Motorola, the answer is gamification. Weigand said Motorola got “unbelievable engagement” from gamification, which it plans to increase going forward.
Saxena closed by saying companies are what their bottom line says. “Find yourself in the balance sheet,” he advised.