1、Page 1 2019 Miller Heiman Group. All rights reserved. CSO Insights 2018 Sales Operations Optimization Study All That Glitters Is Not Gold: Key Findings From The CSO Insights 2019 World-Class Sales Practices Study CSO Insights 2019 World-Class Sales Practices StudyPage 2 2019 Miller Heiman Group. All
2、 rights reserved. INSIDE THIS REPORT Many sales organizations saw increases in quota attainment and revenues last year. However, key leading metrics decreased and adherence to many sales best practices remains low, leading us to attribute the uptick in lagging sales metrics more to the economy than
3、to any sales transformation initiatives. In this report, we take a fresh look at the 12 best practices that correlate most strongly with sales performance. We also provide practical recommendations for how organizations can implement these strategies to insulate their sales performance against the i
4、nevitable economic fluctuations. MAJOR FINDINGS World-Class sales performance requires cross- functional effort World-Class sales organizations have a system for driving performance that aligns their strategies (go- to-market, talent, organizational design, etc.) with customer engagement processes a
5、nd best practices as well as performance support (sales management, sales operations and sales enablement). Alignment of this “sales system” is a work in progress, as cross-functional teams collaborate to define and redefine what works. The customers path remains a priority Though the economy is thr
6、iving in many regions, buyers are still in control of their actions, and adding value remains key to sales success. In addition, buyers want to work with organizations that see beyond the deal. World-Class organizations put the customers path including how customers use products and services after t
7、he sale at the center of everything they do. No sales team is an island Five of this years Top 12 best practices are in the area of performance support, and all five are repeats from prior years. World-Class sales organizations do not leave the business of selling to the sales team alone. From coach
8、ing to forecasting to call planning tools, cross-functional teams work together to provide sales the support they need to have consistently positive, mutually valuable interactions with customers. Talent strategy and data analytics make their debut Two newcomers to the Top 12 reflect the changing dy
9、namics of the selling environment. At a time when the majority of sales leaders recognize that they may not have the talent they need for the future, World- Class sales organizations are taking a strategic approach to talent that covers the lifecycle of the salesperson, from hiring profiles and prac
10、tices to development to exit strategies. And with the amount of data being collected increasing exponentially, World-Class sales organizations also are developing clear strategies for how best to use data to drive their organizations to greater success. EXECUTIVE SUMMARY CSO Insights 2019 World-Clas
11、s Sales Practices StudyPage 3 2019 Miller Heiman Group. All rights reserved. For more than two decades, CSO Insights has collected annual data from thousands of sales organizations around the world to assist sales leaders in making decisions. As we consider the operating metrics surfaced in the 2019
12、 World-Class Sales Practices Study, we are reminded of the story of Sir Martin Frobisher. In the mid-1500s, Frobisher sailed to what is now Canada and discovered a treasure trove of what appeared to be gold. He ferried 200 tons of the ore back to England, returning with an even larger fleet to mine
13、more than 1,000 tons. After initial appraisals of enormous profits and years of processing the rock, it turned out to be iron pyrite. As Shakespeare neatly summarized in The Merchant of Venice, some 40 years after Frobishers comeuppance, “All that glitters is not gold.” On the surface, this years nu
14、mbers are shiny and bright. Sales organizations increased their revenue attainment for the third year in a row, to 101%. And while not a complete reversal of fortune, the percentage of sellers making goal also increased, to 56.9%, from a record low two years ago. Yet if you look into the numbers mor
15、e deeply, you see a less- sparkling reality. SECTION I: The Deceptively Shiny State of Sales -6%-4%-2%0%2%4%6%8%10% 2017-2019: Performance Stalls While Revenue Metrics Grow 2019 MILLER HEIMAN GROUP. ALL RIGHTS RESERVED. Global GDP, +10% Revenue Plan Attainment, +7% Quota Attainment, +7% Win Rates, +
16、2% Customer Retention, -3% Customer Relationships, -4% Seller Retention, -5% -+ CSO Insights 2019 World-Class Sales Practices StudyPage 4 2019 Miller Heiman Group. All rights reserved. While lagging indicators such as revenues and the proportion of sellers making goal have increased in the two years
17、 since our 2017 World-Class Sales Practices Study, they have done so in a time of significant economic growth1. At the same time, leading indicators have stayed relatively flat or started a gradual decline: Even including a minor 2% bump, win rates of forecasted deals remain at less than 50%, meanin
18、g more than half of all deals that are forecast to close dont. Customer retention has dropped by 3%. This is not surprising when you consider that the percentage of organizations boasting deep relationships with their customers has dropped by 4% as well. Seller attrition has increased to 18%, result
19、ing in a reduction in seller retention of 5% within the past two years. This decline in performance is confirmed by both buyers and sales leaders. In our 2018 Buyer Preferences Study, less than one-quarter of B2B buyers told us that they considered salespeople to be a resource to solve business prob
20、lems and saw few differences among sellers. Sales leaders in our 2018 Sales Talent Study noted serious concerns as well. A whopping 84% were unconvinced that the talent they have is enough to generate future success. Given a skeptical view of sellers, declining customer relationships and stalled win
21、 rates, how exactly have sales leaders made their numbers? Many have taken advantage of economic prosperity to add roles, sellers and new technologies to achieve sales results through increased coverage. But those additions have not translated into productivity or performance gains. This puts sales
22、leaders in a dangerous place when economic growth flattens or, worse yet, contracts. To defend against such market changes, sales leaders need to look beyond revenues and quickly address the underlying performance drivers within their businesses. World-Class Sales Organizations Have a Sales System T
23、o begin the process of shoring up their sales organizations for the future, sales leaders must first step back and realize they need to take a holistic approach. The best sales organizations have a “sales system” that aligns a range of components (functions, processes, strategies) around building an
24、d growing relationships with their clients. CSO Insights has partnered with Miller Heiman Group to define the framework for a World-Class Sales System. The sales system consists of three interrelated focus areas: Customer Engagement Sales starts with the customer, specifically the path(s) that custo
25、mers take and the decisions they make that carry them through awareness, buying and, ultimately, implementation. In todays selling world, it is this process that anchors the sales system and defines the processes and methodologies used to engage customers. Such engagement is complex. Every customer
26、relationship is comprised of a series of interactions across an increasing number of decision-makers. And each of these interactions is a composite of moments created with skills (sales and service). Its a lot to manage. 1 For more information on the Global World Product or Global GDP, refer to the
27、International Monetary Fund. CSO Insights 2019 World-Class Sales Practices StudyPage 5 2019 Miller Heiman Group. All rights reserved. When the sales organization wraps itself around these customer paths, it provides direction to customer-facing resources on precisely how to Initiate Opportunities (a
28、ctivities such as social outreach, prospecting, personal branding), Manage Opportunities (e.g., gaining access to decision-makers, configuring solutions to meet needs, providing perspective) and Grow Relationships (including account management, customer service and customer success). Performance Sup
29、port Customer-facing resources need help to effectively and efficiently execute the customer engagement approach and create the desired customer experiences. Such help comes in the form of three critical leverage points: Sales Management (e.g., development, account coaching, teaming, communications)
30、, Sales Operations (e.g., compensation, territory planning, sales process) and Sales Enablement (comprised of coaching, content, training and value messaging). Much of the focus for these teams is the evolution of selling. In fact, “ineffective sales process/methodology” is the second-most- debilita
31、ting hurdle to sales success per the sales leaders in our survey. Further, these functions are tasked with helping sellers and managers make better use of their time. Often because of inefficient internal operations (#1 on the challenge list), sellers spend less than one-third of their time selling,
32、 and managers spend twice as much time on internal work as they do on coaching (2018-2019 Sales Performance Study). TOP CHALLENGES DERAILING SALES LEADERS 1. Inefficient internal operations 2. Ineffective sales process/methodology 3. Organizational misalignment -2019 World-Class Sales Practices Stud
33、y CSO Insights 2019 World-Class Sales Practices StudyPage 6 2019 Miller Heiman Group. All rights reserved. Strategy Alignment The final set of sales system elements is the strategic components. This is the purview of the CSO/CRO as well as executive directors. These strategies align the sales organi
34、zation to the broader enterprise and provide the guidance and fuel that sales management, sales operations and sales enablement need to succeed. This focus area is responsible for addressing challenge #3: organizational misalignment. Specific considerations include the Go-to-Market Strategy (e.g., c
35、overage model, segmentation and channel strategy), Organizational Design decisions (roles, functional alignment and culture), Talent Strategy (e.g., profiling and hiring through to transitions) and the Data however, it also means you wont be changing as fast as your customer expectations are increas
36、ing, and your gaps may grow. 5. Anticipate the consequences of your changes. The system should be tightly aligned. Any change you make should impact a multitude of other systems, process and methodologies that will need to be adjusted to re-establish alignment. 6. Proactively shape your culture. Thi
37、s is not the only study over the past two years that highlighted culture as having a strong connection to success. Does your culture put the customer at the center? How strong are your change management capabilities? Ultimately, it comes down to having a propensity for action and a willingness to fu
38、ture-pace the organization. Just think of the time, money and frustration that Martin Frobisher would have saved had he more quickly determined that he was mining pyrite and not the coveted gold he thought he was. SECTION V: Gold or Something Else? CSO Insights 2019 World-Class Sales Practices Study
39、Page 25 2019 Miller Heiman Group. All rights reserved. The 2019 World-Class Sales Practices Study collected data from more than 1,500 respondents from January through March 2019. Analysis was conducted on responses from 949 sales leaders3. This sample was global in nature and spans across B2B indust
40、ries, with particularly strong representation from the technology, manufacturing, healthcare, professional services and banking/finance sectors. APPENDIX: Study Parameters 3 For relevance to our readership, we excluded small and microbusinesses. Survey Participants by Region 32.6% NA EMEA 44.4% 2019
41、 MILLER HEIMAN GROUP. ALL RIGHTS RESERVED. 17.7% APAC LATAM 5.3% Survey Participants by Role SENIOR SALES MGMT 37.5% 2019 MILLER HEIMAN GROUP. ALL RIGHTS RESERVED. 12.6% SALES ENABLEMENT OTHER 5% EXECUTIVE MGMT 17.9% 7.3% SALES OPS 19.8% FRONTLINE SALES MGR CSO Insights 2019 World-Class Sales Practi
42、ces StudyPage 26 2019 Miller Heiman Group. All rights reserved. We utilized the following approach to identify the Top 12 practices: Analysts correlated practice data from 53 practices with operational metrics to identify relationships. Those practices with strong baseline correlations were then fur
43、ther examined for their strength of impact on performance metrics when executed at the highest level. The analysts then ranked the practices by their normalized combined impact across the seven operational metrics. The result was identification of the Top 12 practices based on correlation, connectio
44、n to positive results and breadth of those connections across a range of success metrics. The following method was used to identify the World-Class sales organization set: Efficacy responses for the Top 12 practices were averaged for each respondent. Respondents who averaged a 6 or 7 (on a 7-point L
45、ikert scale) across the set of 12 practices were designated as World Class. Operational metrics were calculated for the World-Class group vs. all others in the survey to validate the higher performance level of these organizations. For more information about the study method or to compare your sales
46、 organization against World Class, contact your CSO Insights analysts, or reach out to . CSO Insights 2019 World-Class Sales Practices StudyPage 27 2019 Miller Heiman Group. All rights reserved. Printed in the United States of America. Except as permitted under the United States Copyright Act of 197
47、6, no part of this publication may be produced or distributed in any form or by any means, or stored in a database or retrieval systems, without the prior written permission of the publisher. For additional information, contact Miller Heiman Group, Inc. 10901 W. Toller Drive, Suite 202, Littleton, C
48、O 80127 email: The reader understands that the information and data used in preparation of this report were as accurate as reasonably possible at the time of preparation by the publisher. The publisher assumes no responsibility to update the information or publication. The publisher assumes that the
49、 readers will use the information contained in this publication for the purpose of informing themselves on the matters that form the subject of this publication. It is licensed with the understanding that neither the authors nor those individuals interviewed are engaged in rendering legal, accounting, or other professional service. If legal or other expert advice is required, the services of a competent professional person should be sought. The publisher assumes no responsibility for any use to which the purc
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