The 2 Big Metrics That Matter in SalesDecember 22, 2023
The Journey to a Sales Architecture ExplainedFebruary 10, 2024
STEP 1: Frame the Mission: Achieving a new and usually higher sales target is like going on a mission. The next mission is more ambitious, tougher, requiring things you never did before and new obstacles. The obstacles will be in situ well ahead of you. So do this:
- Re-state the potential of the business for a period of the next 3-5 years. Aim to do 5 years’ growth in 3 years. That sets a pace.
- Set out the nature of the mission with the team. Literally write down, our mission in 2024 is to achieve X revenue by y date (calendar or financial year).
- Set up OKRs (Objectives & Key Results) for the team and translate per person. Typically, 2 – 3 high-level objectives for the quarter, each with a Key Result per month. This is a critical move.
STEP 2: Architect: You probably already have the CRM, the dashboards, KPIs, reports, pipelines and some sales tech. But do you have a solid sales architecture that creates the weekly pace you need?
- Set a standard of performance measurement upfront based on 2 big metrics: Risk-to-Revenue and Risk-to-Growth.
- Document your sales pipeline and forecasting rules and definitions, especially to produce accurate forecasts for the week, month and quarter. We recommend the Green Zone Standard. Keep score in a way that is so clear, it’s therapeutic!
- Create a Weekly Meeting agenda that is laser-focused on the big risk metrics. Make progress every week and never miss twice.
- Check those leads! Give your leads clear definitions: CRMs are full of names, not leads and it’s killing results.
Step 3: Activate: Examine the key activities, content and assets needed to get demand creation, capture and conversion moving. Here are some ideas:
- Develop one or two core pieces of content that tells your story, your concept or your offer well. Fewer pieces, used more often is way more effective than tons of content sitting around redundant!
- Get everyone on point with pitch fluency. Don’t leave your critical messages to chance. Grab a screen and start some recording practice.
Step 4: Create a Red Trust Environment: Create an environment where it’s “mandatory” to report and discuss the bad news, rather than postponing bigger problems that will become major boulders at the end of the month or quarter. Eliminate conditional “if” reporting of forecasts, pipeline and deal health. Ask for the red flags, not the happy sales stories. Make this a value in the sales team. Make it safe to ask for help.
This post was written by Michael McGowan