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The sales formula, Working with Mark - Coggle Diagram
The sales formula
Part 1
chapter 1
discipline: hiring program for the best (cannot hire of mediocre)
hiree and company: align strengths with the company sales contacts (what does this mean?)
IDEAL sales hiring formula
step 1: establish a theory of the ideal sales characteristics
scale 1-10 and define what the characteristics mean?
step 2: define an evaluation strategy for each characteristic
check more steps mentioned here
step 3: score candidates against the ideal sales characterisist
minute 10
step 4: learn and iterate on the model while engineering on the sales formula
go back and listen to the questions 10:30
chapter 2
coachability is the most important
step 1: set up a role play exercise that models our customers
step 2: evaluate the candidates ability to self diagnose
step 3: evaluate the candidates ability to absorb and apply coaching
curiosity is also important
does the candidate start by taking initiative (research and asking questions)
prior success
intelligence
work ethic
Chapter 3: finding top performance sales team
Great sales to add is the most time consuming
Building a recruiting agency within your team
Use linkedin
step 1: source qualify candidates (zip codes, job title, school, company)
Step 2: screen the candidates sales profiles (results driven)
Step 3: Engage with the pre-screen candidates
Chapter 4: Ideal first sales hire
Ability to accelerate product to market fit
Chapter 5: setting up a predictable sales program
Buyer journey
Sales process
Qualifying metrics
Getting feedback from the sales people (23min)
Chapter 6: manufacturing sales people your buyer trusts
Guanine sales people - personalize the conversation and make them feel special (modern sales approach)
stop using the tactics that are not yielding results and look into different opportunities
Chapter 11: Convert inbound interest into revenue
Mistake
Don't pass all inbound leads to sales people as some are not qualified.
The marketing team will have to filter bad vs good leads
Buyer persona - points score
Which buyers state are the leads getting stuck a?
Go "negative voicemail" 32 min
How do prioritize the leads this morning?
Part 5: technology and implementation
Chapter 13: Technology to sale better, faster
evolve lead sources
Make the CRM work for the salesperson to avoid Admin work.
Easier to view:
is our pipeline positioned to achieves this quarter's target?
What are we forcasting for total revenue this quarter?
Is our top of the funnel activity on par with what will be needed to set us up for next quarter?
Where does each sales person rank on total funnel activity? lead sources, voicemails(day, week, monthly)
how is the sales activity compared to historic performance?
Is our sales team working with each lead as agree with our marketing SLA
are there are priority leads falling through the cracks?
Marketing department visibility - min 21:10
Sales department visibility - min 21:50
Chapter 14: Running successful sales improvemnets
Foster a culture of experimentation (from the front line)
Leadership trainings
Innovation fund
How to run a successsful campaign 9min
what does success look like?
design experiment execution?
Choose the leader!
Assemble a team (top performers 2)
Establish routine check ins
Chapter 15: most successful hubspot experiments
go to market experiment
What are the challenges of the buyer?
What is the timeline or deadline by the buyer?
Chapter 16: where do we go from here?
Part 3: sales management formula
Chapter 7: metrics driven sales coaching
Effective sales coaching vs ineffective sales coaching
Go over the 30 monthly plan
Best variate from company to company
Diagnoses
overinvestment on under qualifying opportunties
time management
Personal motivation
call relunctants
measure coaching success
Chapter 8: motivation through sales compensation plans
contextual, stage of the business
Hunting plan
customer success plan
Customer commitment plan
goal is to lower churn plan for hubspot - what it be for us?
Criteria to evaluate a new compensation plan
simple
align
immediate
RUN A CONTEST (1/MO)
behavior to implement (team or individual)
share results and publish everyday (monthly ideal)
One contest at a time
Chapter 9: developing sales leaders
only hire experienced sales managers
12 week leadership course
define and developing your leadership style
providing positive and negative feedback to subordinates
successful mentoring and coaching
managing conflict
managing through change
building and develping your team
Active listenting
Part 4: Demand generation formula
Chapter 10:flip demand generation formula
Invest in inbound marketing
SEO (content marketing)
delegate to specialist
Spend time in blogs your audience reads.
Long tail concept phrases to compete on SEO.
Chapter 12:Aligning sales and marketing
Marketing SLA (performance focused on dollar value generated)
For example, have the marketing team deliver 12 million dollars of potential revenue rather than 60 leads.
Start with High level metrics and filter down.
For example, displaying leads that have not been contacted in three + days.
Working with Mark
Recruting agents for Tisa
team
looking for a position 15 people
Choose from the list (mark them through there)
3.50 per hour
Payments 2 weeks
no additional fees
monitoring their hours and and in charge of Paypal
replace with antoher agent
copy of their script (send him one)
They don't offer training (since is it retail)