Sales excellence sits at the heart of every successful business
We don’t think it’s possible to underestimate the importance of getting sales right. Accelerating growth in our portfolio companies means helping you with everything from developing go-to-market, new market and product entry strategies, through to sharing and implementing best practices in pipeline management, account planning, salesforce incentivisation and using best-in-class technology to manage sales operations.
But it doesn’t stop there. We also believe in the power that connecting our portfolio executives has, in terms of sharing experiences and know-how. That’s why our annual two-day Sales & Marketing Conference, involving industry thought leaders and practitioners, is one of the most important events we run.
Aligning sales priorities and incentivisation
UK-based Allocate is a leading international provider of healthcare workforce management software. With over 450 employees Allocate’s products help NHS agencies with critical tasks including scheduling, allocating and managing nursing and doctor resources, to ensure good patient care.
Over the last three years Allocate has undergone a shift in their commercial model, moving from a fixed term license to a SaaS based model (where software is sold as an annual subscription in a combined licence, maintenance and hosting packaging).
To help them make this move we worked with Allocate on ways to rethink and design their sales incentive model. Together, we designed a new incentive system that aligned sales focus and strategic priorities. We also developed new sales training, materials and a clear communication and rollout plan for customers
These changes, developed collaboratively, made a big difference to Allocate to move to a new subscription model smoothly. They made the majority of the transition in under two years, rather than the three or more expected. This led to continued customer satisfaction.
Tailored account management and development
Zenith LeaseDrive is the largest independent vehicle leasing businesses in the UK. With over 500 employees it provides end-to-end automotive solutions, to blue-chip customers, focusing on contract hire, short-term hire and fleet management services through a fleet of over 64,000 vehicles.
Following the merger of Zenith and LeaseDrive we worked with this new company to implement an organisation-wide, best practice, sales-planning process. This was designed to help ensure the new sales targets were achievable, using methods such as analysing existing customers and prospects, understanding conversion rates on sales and detailed pipeline tracking
Working in partnership with Hg, Zenith LeaseDrive’s sales team created tailored account management and communication plans. These customer-specific, tailored plans were designed to drive sales actions and initiatives and lead ROI-based discussions with existing customers and prospects.
As a result of putting in place this ‘best-practice’ sales process at Zenith LeaseDrive, they were able to outgrow their existing market at a double digit rate, and achieve continued, measurable customer satisfaction.
Having agreed ways to measure your success and business growth are important. We believe the most successful organisations measure and manage their performance against the following operational metrics:
- Forecasting accuracy >85%
- Measuring and improving pipeline yield over time
- Measuring and improving upsell / cross-sell rate by customer segment
- 65-75% of sales FTE achieving quota
- >40% of sales comp variable
- Share of sales FTEs fully ramped up >70% of the organisation
- Measuring and managing sales FTE ramp-up time
- Tracking voluntary/involuntary sales FTE turnover