How to Build a Sales Team From the Ground Up Is a Doozie

Building a successful sales team from the ground up is no small feat, especially in the fast-paced world of B2B SaaS. In order to drive efficiency and scalability, automation, tools, personalization, and the right team members, all play a crucial role. Whether you’re a startup venturing into uncharted territory or an established company aiming to take your sales operations to new heights, the process of assembling a high-performing sales team requires strategic planning, smart hiring decisions, and effective leadership.

Let’s dive into the essential steps and proven strategies needed to construct a sales team that not only generates revenue but also cultivates strong customer relationships. From defining roles and responsibilities to fostering a winning culture and implementing streamlined sales processes, we’ll guide you through each stage of building a sales team that thrives in today’s competitive marketplace.

To lay a solid foundation, it’s crucial to evaluate your current business strategy, Ideal Customer Profile (ICP), and existing processes to identify areas of strength and weakness. By leveraging the key components outlined below, you’ll be equipped to navigate the challenges and seize the opportunities that come with building a successful sales team. So, let’s dive in and explore the critical elements that will drive your sales team’s success and propel your business toward long-term growth.

1. CRM, Lead Generation and Qualification

Lead generation and qualification are vital steps in building a robust sales pipeline, and utilizing a CRM system can greatly enhance these processes. Two popular CRM platforms, HubSpot (my fav) and Salesforce, offer powerful capabilities that streamline lead management and drive effective sales strategies.

With HubSpot, you can leverage its comprehensive suite of lead generation tools to attract, capture, and nurture leads. If you want to check the box of CMS and CRM in one platform – HubSpot is the answer. From creating landing pages and forms to implementing lead scoring and automated workflows, HubSpot empowers you to identify and qualify prospects efficiently. Its robust analytics and reporting capabilities provide valuable insights into lead engagement and conversion, enabling you to make data driven decisions for optimizing your lead generation efforts.

On the other hand, Salesforce offers a robust CRM solution that supports lead generation and qualification at scale. With its customizable lead management features, you can track and manage leads throughout their journey, ensuring seamless handoffs to your sales team. Salesforce’s advanced automation capabilities, such as lead assignment rules and workflow automation, enable efficient lead qualification and distribution. Moreover, its powerful analytics and reporting tools allow you to monitor lead performance and identify areas for improvement.

I’ve migrated CRMs before (Salesforce/Notion/Zoho, etc. -> HubSpot), and while the company is ultimately in a better place, I would not recommend the process. Please make a good decision on your CRM and one that meets your business needs!

By harnessing the capabilities of HubSpot and Salesforce, you can streamline your lead generation and qualification processes, gain valuable insights, and optimize your sales efforts. These CRM platforms provide the foundation for building a successful sales pipeline and maximizing your conversion rates, ultimately driving business growth and success.

2. The SDR Debate

Outsource the SDRs or hire them in-house? When it comes to building a strong Sales Development Representative (SDR) team, organizations often face the crucial decision of whether to hire SDRs in-house or outsource their sales development efforts. This decision can have a significant impact on the effectiveness and efficiency of your sales operations. Let’s name the pros and cons of both. By understanding the factors at play and assessing your specific business needs, you’ll be able to make an informed decision that aligns with your company’s goals and resources.

Who is doing phone outreach?

Pros of Outsourcing –

1. Cost Savings: Outsourcing SDRs can be more cost-effective, as you don’t have to bear the overhead costs associated with hiring full-time employees, such as salaries, benefits, office space, and equipment.
2. Specialized Expertise: Outsourced SDRs often have extensive experience and expertise in sales phone outreach. They are trained in effective prospecting techniques, objection handling, and lead qualification, which can lead to higher productivity and better results.
3. Scalability: When outsourcing SDRs, you can easily scale your sales team up or down based on your needs. This flexibility allows you to adjust resources quickly during peak periods or when expanding into new markets.
4. Access to Technology and Tools: Outsourced SDR agencies typically have access to advanced sales tools, CRM systems, and dialing software, which can enhance the efficiency and effectiveness of your phone outreach efforts.

Cons of Outsourcing –

1. Lack of Company Knowledge: Outsourced SDRs may not have a deep understanding of your company, products, or industry. This can result in less personalized interactions with prospects and potentially lower conversion rates.
2. Communication Challenges: Working with an external team can sometimes lead to communication challenges, such as different time zones, language barriers, or misalignment of goals and expectations. Clear and regular communication becomes crucial to address these issues.
3. Less Control: Outsourcing means relinquishing some control over your sales process. You may have limited oversight of SDR activities, methodologies, and messaging, which could impact brand consistency and alignment with your company values.
4. Potential for Turnover: With outsourced SDRs, you may have less control over the team’s retention and turnover rates. Changes in the outsourced agency’s personnel could affect continuity and relationships with prospects.

I have never outsourced SDRs and believe bringing in-house is the stronger option FOR SPECIFIC MARKETS. In some markets, it makes sense.

I also prefer setting up omnichannel sequencing that leverages calling, emailing, and LinkedIn for specific products. However, if there are plenty of emails/numbers available and a must-have need, then it makes sense to outsource, in my opinion.

Pros of In-House SDRs

1. Deep Company Knowledge: In-house SDRs have a better understanding of your company, products, and industry. They can effectively communicate your value proposition, build stronger relationships with prospects, and provide more personalized experiences.
2. Direct Supervision and Control: Having an in-house team allows for direct supervision and control over their activities, ensuring alignment with your sales strategies, goals, and messaging.
3. Cultural Alignment: In-house SDRs can embody and promote your company’s culture, values, and brand voice, creating a consistent and cohesive customer experience.
4. Team Collaboration: Being part of your internal team, in-house SDRs can collaborate closely with other departments, such as marketing and customer success, fostering better alignment and information sharing.

Cons of In-House SDRs:

1. Higher Costs: Hiring in-house SDRs involves additional expenses, including salaries, benefits, training, and equipment. These costs can be higher compared to outsourcing.
2. Limited Scalability: Scaling an in-house SDR team may require time and resources, such as recruiting, onboarding, and training new hires. It might be challenging to adjust the team size to match fluctuating sales demands quickly.
3. Recruitment and Training Efforts: Building an in-house SDR team requires time and effort to recruit qualified candidates and provide comprehensive training to ensure they are well-prepared for effective phone outreach.
4. Employee Management: Managing an in-house team involves additional responsibilities, including performance tracking, motivation, coaching, and career development, which can require dedicated managerial resources.

Based on context- ICP, sales cycle, product, market – then weigh the above.

3. Email Outreach

While email marketing (separate blog post here) is what sales will consult and collaborate on, we are going to stick with sales cold email outreach to generate replies that lead to booked meetings.

While personalized outreach requires a human touch, certain aspects can still be automated to save time and increase effectiveness. Implement email automation tools that allow you to create customized email sequences, schedule follow-ups, and track engagement. Combine automation with personalization to ensure your messages resonate with each recipient. I’ve used these templates from Gong in the past with great success.

Gong Labs recently did some work on this and covered the topic.

In our quest to uncover the most effective strategies for email personalization, Gong conducted an in-depth analysis of over 30,000 prospecting emails from more than 250 companies. Their goal was to bring a scientific approach to the art of personalization and identify the approaches that yield higher response rates.

The four approaches most popular include –

1. Individual-based
2. Activity-based
3. Individual-based
4. Industry-based

When implementing a bottom-up sales strategy to establish a presence within an account at the individual contributor or manager level, leveraging individual-based personalization is key to improving your chances of success.

By tailoring your emails to address specific details about the recipient, such as recent promotions, specific interests, hobbies, or life events, you can significantly increase your reply rate.

When it comes to engaging executive buyers, leaning into a company-based approach can yield impressive results.

Personalization that focuses on company-specific topics has been shown to triple prospecting email reply rates for individuals in director-level positions and above.

Interestingly, Gong found that there is little correlation between higher reply rates and company mentions when targeting lower-level buyers.

By conducting thorough research on company websites, press releases, and financial reports, you can gain valuable insights into their organization’s big bets and strategic initiatives.

When you demonstrate this level of understanding of their needs and objectives, you establish credibility and showcase your ability to align with their goals. It shows that you have taken the time to comprehend their unique challenges and opportunities truly.

If you’re looking to significantly increase both your reply rates and scheduled meetings, leveraging an activity-based approach can be the game-changer you need. By gaining insights into the activities that the account has already undertaken in its buying journey, you can effectively land meetings and advance your sales process.

In any large deal, multi-threading and establishing connections with various stakeholders is crucial, to no surprise. To demonstrate your familiarity and understanding of the prospective buyer’s organization, you can reference previous conversations they have had with colleagues, the content they have downloaded, events they have attended, or relevant social media posts they have engaged with. This approach not only prompts prospects to reply but also increases the likelihood of securing a meeting.

Personalized but scalable?

Incorporate industry-specific social proof into your messaging strategy. This approach allows you to effectively engage multiple contacts within the same vertical while driving impressive results. By tailoring your messages based on industry insights and trends, you can experience an exceptional 88% increase in prospect reply rates, according to Gong.

One powerful technique is to leverage examples or case studies that directly resonate with your prospect’s industry or pain points. By highlighting how your product or service has successfully benefited similar businesses, you provide tangible evidence of the value you bring to the table. Including snippets of positive feedback or success stories in your emails further builds trust and credibility. These testimonials reassure prospects that others in their industry have had positive experiences with your offering, making it more compelling for them to consider your solution.

Tools in my cold email toolbelt –

1. Gong
2. Lavender.ai
3. HubSpot
4. Grammarly
5. A Vidyard at the end of a cold sequence also is helpful. But personally haven’t found a lot of success.

4. Phone Outreach

Phone outreach remains a powerful tool in the arsenal of all sales reps, enabling direct and immediate communication with prospects (if they pick up). However, successful phone outreach goes beyond simply dialing numbers and praying. It requires a range of skills, including effective objection handling, efficiency, active listening, and persuasive communication.

From overcoming objections and building rapport to efficiently managing call volumes and delivering compelling pitches, valuable insights are crucial and actionable tips to help SDRs master the art of phone outreach and achieve optimal results in their lead-generation efforts.

First up…

How to Measure Success

KPIs for SDRs –

1. Answer Rate (> 6%)
2. Set Rate  (> 15%)
3. Show Rate (> 80%)
4. Convert Rate (>90%)

Example – If you make 1,000 calls in a month, you will have 60 live convos resulting in 9 set meetings leading to 7.2 completed meetings finished with 6.48 qualified opps.

Top Skills for SDRs

1. Prospecting: SDRs should be skilled at identifying and qualifying leads through effective prospecting techniques. They should be able to research and identify potential customers, leverage various channels to find leads and utilize prospecting tools like LinkedIn Sales Navigator, ZoomInfo, Lusha, and others to generate a consistent pipeline of qualified prospects.
2. Objection Handling: SDRs encounter objections regularly, and being skilled at handling objections is vital. Trying to brush you off? Complaining about no budget? Not the right person? Too busy? Using competitor? Asking to send them some information? Squash objections and set meetings! They should be able to anticipate common objections, address them effectively, and overcome barriers to move prospects forward in the sales process. Strong objection-handling skills demonstrate confidence, knowledge, and the ability to provide solutions.
3. Efficiency: SDRs often have multiple tasks and targets to manage within a given timeframe. Everyone has a finite amount of time. The only way to call more targets is by being more efficient. Effective time management skills enable them to prioritize activities, allocate time efficiently, and meet deadlines. They should be able to balance prospecting, follow-ups, administrative tasks, and continuous learning to maximize their productivity.
4. Scripting: Excellent communication skills are essential for SDRs. They should be able to articulate their value proposition clearly, actively listen to prospects’ needs, ask probing questions, and adapt their communication style to different personalities and situations. Strong written and verbal communication skills enable SDRs to engage with prospects and convey their messaging persuasively and effectively.
5. Sequencing: SDRs need to use custom sequencing and personalized outreach based on individual prospect characteristics, interests, and pain points. By crafting customized messaging, using a multichannel approach, and strategically timing touchpoints, SDRs can increase relevance, engagement, and relationship-building opportunities. Custom sequencing allows for testing, iteration, and the provision of value throughout the prospect’s journey, ultimately driving better results in lead generation and pipeline development. SDRs should utilize automation tools and CRM systems to manage and track their custom sequences effectively, ensuring consistency and efficiency in their outreach efforts.

Scripting Examples

Opener – How have you been?

Use it.

1. How have you been?
2. Great to hear! I’m Ian Block from XYZ. The reason I’m calling you Jeffrey [Prospect Name] is because I’m following up on the recent email I sent you. Is [value prop question] generating more revenue and saving time via automation important to you?
   3. Perfect, I figured. I work with other operators like yourself to help generate more revenue through different avenues via automation, resulting in bottom-line savings and top-line growth.
   4. Since you are focused on improving [key metric] revenue today, how about we set up a brief intro meeting to further discuss what’s top of mind for you & allow me to share how XYZ can help?
   5. Be on the lookout for a calendar invite right now. Is XYZ email still good to reach you?
   6. Perfect. My intention for our meeting is to discuss your top priorities, introduce how my company can help, & continue the conversation if we agree there is alignment. If not, we can part ways. How does that sound?

*Variable if no email first – The reason I’m calling you [Prospect Name] is that I work with other (ITP) executive retail leaders like yourself, helping them improve revenue through different avenues via automation, which results in bottom-line savings of $120K annually and top-line growth of 27%.

Objection Handling

1. I’m not the right person objection – Do you know who the right person is? Would you be able to give me an introduction?
2. I’m in a meeting / Call me back / Send me an email (“prospect trying to push you off at the start”) objection – can I have 30 seconds to tell you the reason WHY I’m calling (don’t go away easy)? If they still object, Are you available later today at 2 pm? Can you send them a tentative invite for a better time – I live & die by my calendar. I’m going to send you a placeholder so that you can expect my call.
3. Send me some information objection – What information are you looking for? I can explain it much more quickly and be relevant to your current situation better than any marketing information I can send over. With that said, do you want to go ahead and schedule a quick 10 min call?
4. We’re using your competitor objection – Great Choice! Competitor X has a really great product for but a substantial number of our customers did switch to us from ____ because of ____.Have you felt like your experiencing those same needs? -“Many of the orgs I work with came from that solution for XYZ reasons, can we set up brief call to explore how my solution can bring additional value?”
5. Continuing to object objection – Totally get it. Not expecting to change today. Really just want to show industry trends in the marketplace. At the very least, we could be thought partners. Best case scenario, you may realize XYZ could bring more value at a better cost than what you are doing today.

I HIGHLY recommend this course from Pclub – Conquer the Cold Call

Tools

Setting up your SDRs for success is no small task. Outside of G-suite and basic tooling, below is what I have leveraged to find success!

Tools in my phone outreach toolbelt –

1. Gong
2. Outreach.io
3. AirCall
4. RingCentral
5. Zoom
6. HubSpot

Lead Gen –

1. ZoomInfo
2. LinkedIn Sales Navigator
3. Lusha

5. LinkedIn Outreach / Social Selling Techniques

LinkedIn has become a powerful platform for social selling, allowing sales professionals to connect with prospects, build relationships, and generate leads.

One key tool for effective social selling on LinkedIn is LinkedIn Sales Navigator. This premium feature provides advanced search filters, lead recommendations, and other functionalities to enhance your prospecting efforts.

Step 1 –

Build an optimized LinkedIn profile. Your LinkedIn profile is your professional brand. Ensure it is complete, engaging, and aligned with your target audience. Use a style headshot that matches your buyer persona, craft a compelling headline that showcases what you do, optimized your banner image, and create a summary that highlights your expertise and value proposition.

Step 2 –

Engage. Start engaging by sending requests to connect, then begin by commenting. Once you start generating some momentum and get those reps in, start finding groups, following companies, and when ready, start posting.

Step 3 –

Learn LinkedIn Sales Navigator. LinkedIn Sales Navigator offers various features to enhance your engagement efforts. Utilize the “InMail” messaging feature to reach out to prospects who are outside your immediate network. Take advantage of the “Lead Recommendations” feature to discover new potential leads based on your preferences and criteria. These features enable you to expand your reach and connect with relevant prospects. Luckily they have courses to offer.

Step 4 –

Leverage Taplio or other LinkedIn AI tools. Taplio.io is a powerful LinkedIn tool that provides automation, personalization, targeted prospecting, smart messaging, analytics, and compliance features. It saves you time by automating tasks like connection requests and follow-ups while allowing you to personalize messages at scale. With robust targeting options, you can focus on relevant leads, and its analytics provide insights for data-driven decision-making. Taplio.io ensures compliance with LinkedIn’s terms of service, giving you peace of mind. Overall, Taplio.io enhances your social selling efforts by optimizing LinkedIn activities, increasing efficiency, and delivering better results.

Most importantly, stay authentic and personalized on LinkedIn, and you’ll succeed. I haven’t found success with sequences, specifically on LinkedIn. However, adding LinkedIn as part of your omnichannel sales sequence approach is a must.

6. Nailing The Disco

Running a great discovery call as a sales representative requires a thoughtful approach, effective questioning techniques, active listening, and uncovering the root causes of the prospect’s business problems.

Discovery compounds to affect the demo, multi-threading, business case, and the ability to close a deal.

I’ve learned this 5-step framework for highly effective discovery.

1. Business Problem: Identify and validate the business problem.
2. Current state: gain a mutual understanding of the current state of the business problem.
3. Cause analysis: gain a mutual understanding and identify the true root cause of the business problem.
4. Negative impact: identify and explore the effects, consequences, and negative impact of the business problem.
5. Desired outcome: understand the desired results (and the why behind it).

To not only understand and undercover the business problem but to be able to close a deal, one must –

1. Be able to solve it
2. Top priority with the right stakeholders
3. There must be urgency, pain, and gain

Use questions to uncover the business problems –

• Can you help me understand….
• Can you walk me through….
• Can you tell me about….
• Talk to me about….

For example

If it was outbound, “Can you help me understand the challenges you’re facing that would derail you if you didn’t solve them?”

If it was inbound, “Can you help me understand what motivated you to look into XYZ?”

Why do you think that’s happening? What’s your take on why that’s happening?

Once you’ve unearthed what they care about in-depth, you have to affirm/validate.

Not only does it get the root cause, but these great questions also create rapport with your prospect. It shows you understand their business by asking intelligent questions and showing a genuine interest with a good tone.

Asking impact questions –

What are impact questions? Questions about the consequences, effects, and negative impact of the buyer’s business problem. Help sell by building the seriousness and urgency of the situation so it becomes large enough to justify action, get key people involved, and spend money to solve it.

So why does X impact Y? Effect, impact, leading to, ripple effects, etc…

Summarize the business problem -> asking for impact (what would happen if they didn’t solve this issue) -> So from here, can you help me understand the ripple effects this “issue” challenge has on the rest of the business?

For example

• Earlier, I asked what challenges you were facing that would derail you, and you shared this with me. Can you help me understand how this would derail you?
• Can you help me understand the ripple effects this challenge has on the rest of the business?
• How is this challenge impacting the business as a whole?
• Who else does this challenge impact (function, person), and how?
• What’s driving you to solve this issue now rather than later?

Excellent – that then leads them to invite the other stakeholders to the next call.

Align on the desired outcome jointly and affirm.

Is this the thing we should be talking about? Is it grabbing a fair share of your brain cells and keeping you up at night, or is it not getting enough attention to solve right now?

Define the outcome jointly by alignment, relevant, solution-oriented questions.

Question Framework

Start with an open question first, then targetted questions. For example –

Can you provide an overview of your current business operations and objectives?

1. What are your primary business goals and objectives for the next quarter/year?
2. How does your team currently handle [specific process or challenge]?
3. What challenges or pain points are you currently experiencing in your business?
4. Can you elaborate on the impact of [specific challenge] on your overall productivity or efficiency?
5. What initiatives or strategies have you implemented to address similar challenges?
6. How do you measure success in your business? What key performance indicators (KPIs) are important to you?
7. Can you provide insights into your target market and ideal customer profile?
8. What is your current sales and marketing approach? How do you generate leads and drive revenue?
9. Are there any upcoming projects, expansions, or changes in your industry that may impact your business?
10. Can you share any specific examples or case studies of successful outcomes or accomplishments your business has achieved?

Open – Could you please provide an overview of your marketing and lead generation efforts?

Targeted – Can you provide insights into your current lead generation strategy and your challenges in attracting qualified leads for your SaaS service?

Utilizing the open and then targeted helps set up an open, candid conversation.

7. Demoing FTW

Nailing the SaaS demo is a pivotal moment in the sales process, demanding meticulous preparation, impactful communication, and an unwavering focus on demonstrating the unique value of your solution. It’s not just about showcasing features; it’s about connecting with your audience, understanding their pain points, and illustrating how your offering can directly address their specific challenges. In this blog post, we will delve deep into the art of delivering an exceptional SaaS demo, equipping you with practical strategies and insider tips to captivate your prospects, highlight the key benefits of your solution, and leave a lasting impression that compels them to take the next step in their buying journey.

Understand the prospect’s needs: Prior to the demo, nail the disco, and ensure you have a deep understanding of the prospect’s pain points, goals, and specific requirements. Tailor your demo to address their unique challenges and show how your solution can meet their needs. Solve that one challenge. No more, no less.

Plan a structured demo flow: Outline a clear structure for your demo, starting with a brief introduction and agenda. Break down the demo into sections that align with the prospect’s priorities and demonstrate the most relevant features and capabilities of your solution.

Keep it focused and concise: Respect the prospect’s time by delivering a concise and focused demo. Highlight the key features and benefits that directly address their pain points. Avoid overwhelming them with excessive details or going off-topic. Had to repeat this!!!

Showcase the value: Emphasize the value proposition of your SaaS solution throughout the demo. Connect the features and capabilities you demonstrate to the specific benefits and outcomes the prospect can achieve by using your product. Clearly articulate how your solution solves their problems and delivers tangible results. People buy solutions, not products.

Use real-world examples and case studies: Make your demo relatable by sharing real-world examples, success stories, and case studies that demonstrate how your SaaS solution has helped other similar businesses achieve their goals. This adds credibility and builds trust with the prospect.

Encourage interaction and address questions: Engage the prospect during the demo by encouraging questions and feedback. Create an interactive environment where they feel comfortable asking questions and seeking clarification. Address their concerns promptly and thoughtfully. Long monologues are just plain wrong. Ask engaging questions throughout and ensure the audience is having fun and benefiting from the demo!

Customize the demo to their context: Whenever possible, customize the demo to the prospect’s specific industry, role, or challenges. Use language, examples, and scenarios that resonate with their context, making it easier for them to envision how your solution fits into their business.

Focus on benefits, not just features: While it’s important to showcase the features of your SaaS solution, remember to highlight the benefits and outcomes that prospects can achieve by using those features. Help them envision the positive impact your solution can have on their business.

Be enthusiastic and confident: Show passion and enthusiasm for your product throughout the demo. Be confident in your knowledge and ability to address any questions or concerns that arise. A positive and confident demeanor can go a long way in building trust and leaving a lasting impression.

……Follow up and address next steps: After the demo, promptly follow up with the prospect to address any outstanding questions, provide additional information, and discuss the next steps in the sales process. Personalize your follow-up based on the specific topics discussed during the demo to keep the momentum going, and if you can, send them the recorded demo link for helpful feedback.

8. Sales Funnel Management

When it comes to the sales funnel and pipeline management, implementing best practices and utilizing the right tools is essential at each business stage for maximizing efficiency and driving revenue.

Keeping your sales

1. Define clear stages: Clearly define the stages of your sales funnel, from lead generation to closed deals. This provides a structured framework for tracking progress and identifying bottlenecks. Lead -> MQL -> SQL -> Opportunity -> Closed Won
2. Set measurable metrics: Establish KPIs and metrics to assess the health of your sales pipeline. These could include open pipe, conversion rates, average deal size, and sales cycle length. Regularly analyze these metrics to identify areas for improvement.
3. Regularly review and update: Pipeline review needs to be run weekly or bi-weekly, depending on the sales cycle. Continuously review and update your sales pipeline to keep it updated or ensure the team has it updated. Ensure the last touch point summary, next steps, all key contacts (multi-thread), and any other information pertinent to the deal. Remove outdated or low-value opportunities to maintain an accurate view of your sales pipeline.
4. Integrate sales and marketing: Foster collaboration between sales and marketing teams to ensure a seamless transition of leads from marketing campaigns to the sales pipeline. Alignment and shared goals contribute to a more efficient and effective sales process.
5. Utilize automation tools: Leverage automation tools to streamline repetitive tasks and optimize efficiency. Tools like Pipedrive, Salesflare, and HubSpot offer features such as automated follow-ups, task reminders, and lead scoring.

This aspect needs constant tweaking and refining. However, it’s most important to do pristine and great pipeline inspection as a manager and keep things up to date utilizing best practices as a sales rep.

9. Proposal & Contract Generation

Time to generate a quote to review! Woohoo! Regarding proposal and contract generation (CPQ), there are several options and factors to consider.  Following best practices and utilizing the right tools can greatly streamline the process and increase efficiency.

Questions to ask

How complex are the contracts?

How many SKUs?

Pricing of your product?

Product catalog variance?

Bundling & discounts?

Is every single one customized?

What’s the budget, and how many users?

How many customers do you have and forecasted?

What integrations are required?

Is this usage-based pricing?

How involved will billing be?

Renewals? Net terms? Billing cycle?

What e-sig tool is needed?

Once there is context, it’s important to set up a solid foundation for you to grow upon.

I have found first-hand success integrating both Salesforce and HubSpot directly into MonetizeNow (I despise Zoura Quotes). I have also used native HubSpot Quoting and PandaDoc and have looked at Maxio.  

For standard and not complex quoting process a tech stack might look like

1. CRM Hubspot
2. CPQ MonetizeNow
3. DocuSign
4. Stripe

For complex, maybe its more like

1. CRM Salesforce
2. Conga CPQ
3. PandaDoc
4. DocuSign
5. Zoura

10. Analytics & Reporting

In the dynamic landscape of sales and marketing, leveraging robust reporting and analytics practices, along with the right tools, is essential for informed decision-making and achieving optimal results. By adopting best practices and utilizing cutting-edge tools, you can gain valuable insights into your sales and marketing performance, identify areas of improvement, and make data-driven strategic decisions.

Accurate and comprehensive reporting allows you to track key metrics and indicators, measure the effectiveness of your campaigns and strategies, and align your efforts with your business goals. It enables you to understand your customer journey, evaluate lead generation and conversion, analyze revenue generation, and assess the ROI of your marketing initiatives.

Choosing the right tools for reporting and analytics is crucial. There are numerous options available, ranging from robust CRM systems, marketing automation platforms, and web analytics tools to specialized data visualization software. These tools empower you to consolidate data from various sources, automate data collection and reporting, and generate actionable insights in real time.

1. Define clear objectives and KPIs: Clearly define your sales and marketing objectives and identify the key performance indicators (KPIs) that align with your goals. This could include metrics such as lead conversion rates, CAC, lifetime value (LTV), ROI, website traffic, email open rates, and much much more.
2. Establish a centralized data source: Ensure that you have a centralized data source where all relevant sales and marketing data is collected and stored. This could be a CRM system, marketing automation platform, or a data warehouse. This could be Salesforce, Tableau, Domo HubSpot, Gong, etc. Having a single source of truth will facilitate accurate and consistent reporting.
3. Select the right reporting and analytics tools: Choose tools that align with your reporting requirements and provide the necessary features and functionalities. Popular options include Google Analytics for website analytics, marketing automation platforms like HubSpot or Marketo, and CRM systems like Salesforce or Zoho CRM.
4. Automate data collection and reporting: Leverage automation to streamline data collection and reporting processes. Set up integrations between your various systems to automatically import data and generate reports. This saves time and ensures data accuracy.
5. Create customized dashboards and reports: Tailor your dashboards and reports to meet the specific needs of different stakeholders. Use visualizations, charts, and graphs to present data in a clear and understandable format. This enables quick and informed decision-making.
6. Regularly review and refine your metrics: Continuously evaluate the relevance and effectiveness of your chosen metrics. Regularly refine and update your KPIs based on changing business goals or market conditions. This ensures that you are tracking the right metrics and focusing on what matters most.
7. Implement ongoing analysis and optimization: Use the insights gathered from your reports and analytics to identify areas for improvement and optimization. Analyze data trends, segment your audience, and conduct A/B testing to uncover opportunities for enhancing your sales and marketing strategies.
8. Foster a data-driven culture: Encourage a data-driven mindset within your sales and marketing teams. Encourage regular analysis and reporting, and provide training and resources to help team members interpret and leverage data effectively.

Remember that reporting and analytics are not a one-time task but an ongoing process. Continuously monitor your metrics, refine your approach, and adapt to changing business dynamics to drive better sales and marketing outcomes.

Ultimately, a data-driven approach to sales and marketing reporting and analytics empowers you to make informed decisions, optimize your strategies, and drive meaningful results. By harnessing the power of best practices and leveraging the right tools, you can unlock the full potential of your sales and marketing efforts and stay ahead in today’s competitive business landscape.

11. Notice We Didn't Cover Who To Hire & When

Look who to hire and when is all situational—determining whom to hire and when is indeed a context-dependent decision that requires careful consideration. To provide effective guidance on staffing needs, it is crucial to assess the specific circumstances and requirements of your organization.

Building upon the insights shared above, success lies in identifying what works best for your unique situation. If the workload becomes overwhelming, it becomes imperative to bring on board individuals with the necessary skills to fill the gaps.

Whether you require an Account Executive (AE), Sales Development Representative (SDR), or another specialized role, the key is to ensure that the right person is appointed to the position at the opportune moment. By aligning your hiring decisions with the demands of your business and strategically filling skill gaps, you can position your organization for growth and success in the competitive market.

Ready to get started or tweak your current model? Contact me today!