Fullcast.io November 2018 Update

 

With a productive month of November, fullcast.io is starting off the holiday season strong! As mentioned in last month’s update, these months are high-stakes for many companies as they prepare for year-in-reviews while at the same time plan for their next fiscal year. This is certainly the case for our customers, and we’ve been right there with them.

In response to demand, we’ve developed several new features to expand our software offering. We also hit the road with a number of Sales Ops events, and a few webinars. Continue reading to learn more!

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10 Tips For Sales Planning

Sales planning is one of the most important functions of sales operations, but it is often the most time consuming and frustrating. There are so many options and considerations in sales planning, how do you prioritize? And how do you make your sales plan scalable as you grow? We at fullcast.io put together 10 tips we think any sales operations professional should consider when planning for growth. To hear a discussion on these tips, watch this recorded webinar. We’d love to hear your thoughts!

1. Think “Customer First”
This is our first tip because it’s the most important to effective sales planning. It’s a mantra we hear often in sales organizations – think customer first, the customer is always right, and getting close to the customer is most important. But thinking customer first also prompts you to consider how your sales planning will impact your customer. For example, decisions on segmentation, resource ratios, and use of automation set the tone for how and when your customer is contacted. All your sales planning should be focused around improving your relationship with the customer, improving their experience, and shortening your sales cycle.

2. Use Metrics
Sales Planning can be a challenging process with a lot of ambiguity and emotional decisions. Setting metrics gives you an objective, clear path forward. Are you trying to figure out how to hit a certain growth target? Setting metrics around historical productivity, pipeline, and close rates makes it about the numbers instead of the people, which deescalates emotional situations and makes planning more productive. As an example, one of the biggest metrics Salesforce uses is Bookings Potential – an account score that estimates the amount a business spends on each of Salesforce’s products. Having this metric helped in territory creation, market opportunity, resourcing, and unifying stakeholders while maintaining objectivity.

3. Create a Timeline
A big part of planning is program management and meeting milestones. You need input from Finance, Marketing, and HR during planning, and then the planning outputs are fed back to Finance, Marketing, and HR. There are a lot of interdepartmental dependencies so giving a timeline with deliverables keeps everyone accountable. Work back from your ultimate deadline and deployment, considering all the processes that need to happen along the way.

This is an example of creating a timeline for one of our clients. In order to get to deployment, we need to conduct a performance review, market evaluation, capacity planning, and territory building. It’s a small part of overall sales planning, but it provides transparency and accountability across all stakeholders.

4. Think Ahead
This is best illustrated with an analogy from hockey – skate where the puck is going. Look to where the market is going, not where it is. Use forward-looking metrics instead of historical looking metrics. Past performance does not equal future performance, and past sales do not equal future sales, so look to where the market is going. This also applies to segmentation. You want to create your segmentation based on projected growth as you add sales staff, customer support, and customers. Staff your teams based on your plan, whether product-related or customer-service related.

5. Over-Carve Territories
Related to planning ahead, it’s important to think about ramifications for growing faster than you originally planned, and how you’ll manage that growth. This happens with so many companies – you grow faster than you plan and run out of territories as you bring in more headcount. A simple solution is to create more territories than you think you’ll need when planning. This is something Salesforce and many other high-growth companies do as general policy.

As an example, say you are planning to have 5 reps in a region, but you anticipate growing.  Carve out 6 territories so your new hire can hit the ground with a prepped territory.

This also sets the expectation with reps that they may lose some of their accounts. If you create extra territories, it becomes easier to share accounts when you continue to hire.

6. Create Balance
Sales Planning is about aligning resources across the company, and one of the most important things to do in this process is to create balance across all planning aspects. Balancing go-to-market efforts across resources prevents overextending one resource, and ensures all resources are fully optimized. It also allows you to balance risk across markets. Creating territories is really a way to balance market opportunity across your account executives so everyone feels empowered to meet quota. This creates a culture of accountability and everyone pulls their weight. Similarly, creating balance allows for easier performance analysis – if some territories outperform other territories, it’s easier to identify causes if you’ve made each territory equal.

7. Experiment
We discussed this in a recent blog post about optimizing processes. An important part of Sales Operations is conducting experiments in small parts of the business and taking those learning to the larger sales org. For example, experiment with a hunter/farmer strategy vs. account executives managing both customers and prospects. You could experiment with
SDR/BDR/AE ratios to optimize productivity and cost of acquisition. However, keep experiments small and scalable to reduce your risk.

8. Over-Communicate
There are a lot of people involved in and impacted by the sales planning process – sales, marketing, finance, HR, IT, just to name a few. These stakeholders have their own planning process congruent with sales planning. Not everyone needs to be involved every step of the way, but it’s important they know what is going on. This can be done by creating a timeline (per tip #3) and overcommunicating so everyone is aligned and understands planning goals.
Many of our clients have minimum weekly check-ins as a group to level set on priorities for the week. Smaller teams should meet and communicate daily. Things can get lost in translation or interpreted differently in each department, so having continual communication ensures everyone understands each department’s goals and planning method.

9. Document Everything
At fullcast.io, we take the view that if something isn’t written down, it doesn’t exist. On the topic of overcommunication, we recommend documenting everything – ultimate decisions, timelines, responsibilities, and ideas. This allows you to look back on past decisions when evaluating your plan or planning in the next year. It also gives you a roadmap when questions or disagreements arise. There could be disputes about account ownership, compensation policies, even overall planning processes. Documenting each of those things gives you a point of reference.

10. Stay Flexible
So far, we’ve talked a lot about specifics, being precise, and staying organized in your process. But this tip acknowledges the need to stay flexible. We’ve touched on this through a lot of our tips, but it’s important to recognize things rarely go perfectly to plan, especially as you’re scaling growth. Building in flexibility for contingencies and changes is important to save time and energy in the long run. Flexibility makes planning more fun and allows for unexpected growth and change. Here are some ideas on putting it into practice – over-carve territories, over-assign quota to create wiggle room, share resources, and create redundancy in workstreams. These are ways to de-risk the plan and make flexibility easier.

Bonus Tip! Revisit Often
No plan is perfect, and sometimes you need to make pivots. Revisit your plan often and evaluate whether you are meeting your expectations. Revisit quarterly, if not monthly, with your overall team. You’ll want to revisit with higherups and the board quarterly as well and check in weekly, if not daily, with your team. You don’t need to change the plan, but the more often you talk about it, reference it, and measure against it, the more successfully you’ll stay on track.

What are your thoughts? We’d love to know if these are helpful for you, and what other tips you might add. Shoot us an email at info@fullcast.io.

Sales Planning, Reporting, and Usability: Feature Updates for October

 

Happy Halloween! fullcast.io’s Spooky Product Updates

It’s been a busy month at fullcast.io as many of our customers start their sales planning process, identifying their capacity needs (how many people they’ll be hiring) and territory planning (where those people are going). The next few months are high-stakes as they prepare for year-in-reviews while preparing for next year.

In support of that, we’ve been working hard on our product offerings and are excited to share updates with all of you to help with your sales planning. Without further ado, here are the key new features we’ve added this month:

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Sales Process Optimization – Experiment and Refine

Process Optimization for Sales Operations professionals is like a technicians tinkering with a machine – experiment, learn, and improve.

We’ve done a few things in recent posts:

  1. Summarized the Sales Operations Job Cycle, describing the infinite loop of processes in the Sales Ops function.
  2. Dove into Sales Strategy & Planning, which is how a company sets its vision.
  3. Discussed Policy Creation, which is how companies implement their vision, through policy and processes.

The next step in the Sales Ops Job Cycle is Process Optimization. This is the responsibility of Sales Operations to constantly evaluate and improve upon the way a sales organization works, with customers and within itself.

In this post we provide you with examples of process optimization and discuss our Five Steps for optimizing processes.

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Sales Policy Creation – Linking Strategy with Operations

 

In recent posts we have been answering a question we get a lot: “What is Sales Operations?”  We have defined the roles and responsibilities of the Sales Operations job, and have started looking at each of those responsibilities.

We last looked at Sales Strategy & Planning, which is how a company sets its vision and lays out the path to get there.

In this post we dive into the next step: Policy Creation.   We’ll focus on “What (are Sales Policies),” “Why (do we have them),” and “How (do we make them).”

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Sales Strategy and Planning – What’s Your Vision? How Are You Getting There?

 

Napoleon, one of the most successful leaders of all time, built his empire on meticulous strategy and planning.

We recently answered the question “What is Sales Operations?” and defined the roles and responsibilities of the Sales Operations job.  TLDR: It’s all about the policies, processes, and analyses that support sales teams to sell better, grow faster, and be more strategic.  The Sales Ops Job Cycle is made up of 6 points:

  1. Strategy & Planning
  2. Policy Creation
  3. Process Optimization
  4. Sales Enablement
  5. Data & Technology Management
  6. Performance Analysis

In this and subsequent posts, we want to dive deeper into each of these points, and today we start from the top: Sales Strategy & Planning.  We’ll focus on the “What,” “Who,” “When,” and “How,” and finish with a plug for our Strategy & Planning tool 😊.

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What is Sales Operations?

Sales-Ops-Job-Cycle

Many people have asked us to explain our jobs in Sales Ops.  West Coast, East Coast, North, and South, it seems like few understand the day-to-day of the Sales Ops function. So we decided to help everyone out.

Sales Ops is the platform on which companies build their sales teams. It is the infinite loop of policies, processes, and analyses that supports sales teams –managers and individual contributors – to sell better, grow faster, and be more strategic. Read more

Data Is The New Oil – Only If You Can Capitalize On It

Example of data degridation

I was thinking about data, and an Economist article that I read a while back that had compared a new data center to the oil wells of the last century. The article was making a point that in the current environment data is the new currency and that companies able to monetize the data were going to be the leaders of the future. If you have not read it, you can find the link here. .Nothing earth shattering in hindsight for us in tech but something to ponder over still. Does having access to data alone makes the data worthwhile or is it only useful if you can capitalize on it?

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fullcast.io GrowthOps Podcast

The world of Sales GrowthOps is ripe with innovation and ever-changing best practices. With your host, @Tyler Simons, the GrowthOps podcast series includes industry expertise from fullcast.io, and other industry experts. We break down the Sales Ops problems we are all trying to solve in our day to day. Whether you live and breathe Sales Operations, or just appreciate a good way to route leads, the GrowthOps Podcast is a must listen to. Its great for anyone interested in hearing and learning how the unique problems in Sales Ops are being solved today. Read more

Welcome to Growth Ops

What is Growth Ops? It’s a question that we have encountered in almost all our engagements and this post is about defining Growth Ops.

It’s been over a year since my partner and I left the safety of a comfortable job to follow our passion for building a service that will help transform sales operations into growth operations. During this time we have been blessed to have been joined on our journey with a band of committed colleagues who are helping us work on this transformation and we have also been fortunate that our customers have given us this opportunity. Read more