SalesHacker recently came to down to Sydney for the second fireside chat. We joined them as there’s normally some interesting conversations sparking with all the people in the room.
Andy Farqharson, Director of TheFarqWay hosted an interesting chat that went down so well with the audience, we wanted to share with you:
Andy Farquharson, TheFarqWay – Director (AF)
What tactics do your reps implement to create their own leads?
GD – The key to success is personalisation. We recently launched a physical mail campaign to the target buyers, with a personal message from the sales rep. This really helped to generate leads that matter but there are some genuine issues with scaling.
With over 400million users of DropBox there is a lot of information that can help the sales team identify who may be a potential prospect, not any scary information about the documents they are sharing but more about how they are engaging with the technology. We are using this information to identify the prospect and building out an SDR team to try and personalise at scale
How do you work with marketing and sales?
MD – Traditionally there is a fundamental disconnect between marketing and sales, at LinkedIn we have worked hard to get alignment on a simple principle, identify the group of people we are trying to go after and how we are going to do it. Basically taking someone on a journey from “I don’t know you are” to a beginning a sales process. LinkedIn spend a lot of time working with marketing on segmentation, prioritisation and the respective engagement responsibilities.
The fundamental problem facing sales people is ‘who do I speak to’ and ‘where do I speak to them’. You get a lot of information from deals that you have won, that is a profile you may want to prioritise.
BN – The key to the prioritisation is to rank/tier your prospects to ensure you are focusing on your most likely customer and stick to it. Some of the best ways to identify those targets are to look at paid and free tools out there, a couple are SalesLoft, ToutApp, SendBloom for finding accounts and LinkedIn for identifying prospects. Alternatively, you could just buy a list. You need to use the tools to identify the bottlenecks in the process and scale.
Sales Navigator by LinkedIn were incredibly popular from the popular
AF – Tools seem to be a lot of interest to everyone in the audience, a blog you may want to check out is from Nancy Nardin, SmartSellingTools.com.
What is the most successful sales driven lead generation campaign you have been involved in?
BN – The best lead gen campaign have met two key criteria. 1, they are targeting your ideal customer profile and they have raised their hand by providing you with triggers or information about their interest. 2. Simplicity is key, whichever channel you use make sure it is short simple and easy to consume.
What are the core characteristics of a good quality lead?
GD – DropBox use BANT. If my team don’t know the answers to these questions then it isn’t a real lead
– Do they have Budget?
– Do they have Authority to purchase?
– Is there a Need in the business?
– When are they looking to implement a solutions (Timeframe)?
How long does it take to ramp a Sales Development Rep?
BN – It depends about how much you are building process versus training reps. World class organisations take 4-6 weeks to train an SDR to be fully productive. Keys are setting expectations of what is expected and creating a process that can be improved and iterated on quickly.
MD – Sales Development is very exciting because you are scaling your business. You need to create a balance between building the process and hiring the right person. Another forgotten thing is the speed of iteration for an SDR, it takes a field rep a month to have 100 conversations, an SDR can have those conversations in two days meaning there are more opportunities to learn and improve upon the quality of your interactions
Is CRM being used as a workflow tool or a management tool?
MD – I have very strong feelings on this one! The CRM provides a critical business function but it has added a task to their job which makes them less productive. For a sales person the main output is reporting as opposed to a sales tool liked LinkedIn Sales Navigator which enables more conversations.
BN – If reps are going to spend time doing admin in the CRM it is important that your sales leaders identify the core activities they need completed and ensure that it is clearly communicated and managed by everyone in the business
GD – I share a similar view to Mark, the key for my teams is to spend the minimal amount of time required within the CRM, a big piece of that is to automate the majority of the sales reps actions within the CRM.