How to Lead a Sales Team at an Enterprise Software Company
Make sure your sellers know how to ask the right questions and make the right statements!
“You can measure a man by the opposition it takes to discourage him”
Robert C. Savage
When executives put their hiring criteria together, I would implore them to throw out the regurgitated and stale approach so often used and statistically unsuccessful, - wait for it - “the rolodex and product experts.” I’m not suggesting that it doesn’t hurt for a seller to come from a competitor with a rolodex, but in all my years of managing sellers, I have not found the product knowledge or rolodex to be the defining difference.
Instead, what is critical, is hiring sellers who know how to “COMMUNICATE.” This may sound very mundane, but it’s the art and science asking the right questions and making the right statements that provides the necessary knowledge to discern whether a seller has a real deal or not and then prevents those uncomfortable weekly “we wish” meetings from taking place.
The reason why communication is critical in the enterprise software SaaS tech facet of technology is because there is usually no reciprocity. Sellers have to first create a vision with prospects to gain “buy-in” and this requires common sense questions and statements to assess a potential fit.
Put your sellers in a position to succeed with these codified steps and the result will be sustainable and scalable growth:
Impact Messaging
Who are the stakeholders you are trying to sell to?
Why are these stakeholders buying from you vs your competition?
Why would these stakeholders buy from you now vs doing nothing?
Revenue Planning
Build the territory you know fits your market scope to sell directly or through partners.
Make sure your pricing is easy for the seller to communicate and the buyer to understand.
Make sure your margins fit into your top-line revenue goal and bottom-line cost containment.
Use a hiring criteria predicated on daily activities you know your sellers need to execute vs their credentials on a CV. This will empower your interviewing questions with precision.
Situational Deal Management
Instill a forecast model that is simple to use .
Committed deals
Upside deals
Longshot deal
Toggle the forecast against events to determine where the deal sits in the forecast.
Use a working close plan to stay on track when coaching reps.
What meetings have taken place with dates and resources?
Forward think the meetings that need to take place in the future adding the resources needed- this will help plan and forecast accurately.
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In essence, Jeff Hoffman’s codified approach, which stems from 30 years of experience selling, managing and executive roles, will demystify your CRM and keep your investors happy. He ran sales for three fintech companies and two reached liquidity events. Now, he acts as a fractional and interim Chief Revenue Officer to companies in need of building correct go-to-market-strategies and ensuring their pipeline turns into gold.