Chris Noordyke is the Chief Revenue Officer at Blue Medora, and a new customer of TopOPPS. Chris posted this blog on LinkedIn about how his team achieved great results from their 1-on-1s using TopOPPS technology.
My team likes to win and they know that knowing their metrics is what it takes. Through automation of our policies, systems, and tools we have reduced the amount of time the sales team needs to focus on our CRM system to less than fifteen minutes per day. My reps appreciate the time we take to review how they’re doing and strategize how to blow their number out. Since implementing these two coaching strategies, we have seen reduced sales cycle times and increased win rates.
The two things that make us successful in increasing quota attainment throughout my team is that I first standardize on just the things that matter to coach my team. The second thing, is that I use automation that gives me the information and prescriptive insights I need and it keeps the data organized so I can trust it and it reduces time my team needs to spend updating our CRM software.
Weekly Standardized Sales Coaching for 1-on-1s
I standardize on weekly best practices as a manager to make sure we are doing all the right things in the short term. I also have a monthly set of standard best practices that makes sure we are doing all the things for the long term for the growth and success of my sales team.
We start with the good stuff and I make sure that everything is in order and on track. In general I look at all the deals and do the housekeeping to make sure it has the right hygiene and next steps. I then rank them and fortunately I have software that does that for me automatically. Then I have everything in order to plan successful next steps to get all the deals for the quarter closed. The other thing, I make sure that everyone on my sales team is getting the personal development they need.
Monthly Standardized Sales Coaching for 1-on-1
During monthly 1:1s, we have had time to move the needle a bit, so we review these two things - how we are tracking in performance and how we can improve in performance.
We look at bookings vs quota for the current period and we compare it to previous periods. We also look at when the deals traditionally get booked - smoothly throughout the period or does it come in all at once at the end.
Sales Funnel Conversions:
We review close rates of leads and opportunities overall and from each stage as deals move through the funnel. We look at how many and when we’ve converted new opportunities created from each month. Also, we look at conversions from stage to stage, and how it compares to other members of the team.
Key Rep Performance Metrics:
We review win rates of deals that were scheduled to win within the period, and we look at win rates overall. We also look at average selling price over each period and how many of the commits the sales rep won. Also important are the cycle times, and we review cycle times by our different sales processes, for example enterprise vs mid market vs SMB. I use the report in the first image above.
We make sure that there is consistency and improvement in the number of new opportunities entering the funnel and we review how well the opportunities are managed. An example of that is the number of pushed opportunities and number of opportunities that have been pushed multiple times into future periods.
We look at our wins and losses and categorize losses by reason - Not a Fit, Competition and No Decision. We also look at how long it took us to win an opportunity. We believe disqualification is as important as qualification is. I push our sellers to reduce the amount of time it takes them to close an opportunity, win or loss.
Ideal Customer Profile (ICP):
We look at ICP to make sure we are chasing the right kind of deals. We are constantly monitoring our productivity model, each quarter our sellers take on more quota then the quarter before, it is critical they spend their time on opportunities that have highest potential to close.