HubSpot's SVP of Sales Strategy and Operations, Channing Ferrer, hosted a webinar in August 2020 focused on sharing the lessons he's learned designing sales teams. Click here to get the recording, or click here for the slides.
The Q&A with Channing below is now closed. Check out the thread for answers to questions like:
What are the top 3 attributes or skills you hire for?
How do you balance Sales & Account Management roles?
What were the greatest win and greatest lessons learned from experiments you ran?
My question is how have trained or incentivized Sales members to enter the data they need into HubSpot?
Do you see any differences in what needs to be done by stage for a professional services company as opposed to a product company?
@LFarabaugh These stages and action items apply to all industries. Howwever, as a professional services company you will want to think about different KPIs, different sales incentives, customer growth/retention incentives etc. The general action items are applicable, but the metrics you use to drive the business will vary greatly.
As you are in the upper areas of founding stage 2, what key strategies would help you push into phase 3 the most rapidly.
@SalesIsScience I believe your referencing the transition from "Phase 2: Early" to "Phase 3: Growth". The steps outlined in phase 2 are critical to move your business forward. I would recommend prioritizing the decision on your GTM strategy. It is very hard to accelerate growth without a clear GTM strategy. Once you have this strategy in place then everything else with more easily follow.
I know I touched on building GTM strategy in the presentation - let me know if you have a specific question about your setup I can answer.
Any specific strategies for the upper right products in designing specific sales processes to accelerate close?
@SalesIsScience The first thing I would say is stick with the 'rigid pricing' approach. Often companies begin to negotiate too much when in the upper right quadrant of the GTM operations spectrum and it slows them down. In addition, I would recommend having a very clear sales process. Make sure your reps are following the steps, doing strong discovery and walk away early from bad deals! These 2 things sound simple, but can be hard to implement effectively. Become maniacal about both.
How do you balance Sales & Account Management roles. Do you add one before the other? How do you best incentivize sales people to keep hunting rather than hold on to accounts, if you do have a separate AM function?
How do you balance Sales & Account Management roles. Do you add one before the other? How do you best incentivize sales people to keep hunting rather than hold on to accounts, if you do have a separate AM function?
@LFarabaugh There are 2 approaches to this question, I will lay out both.
1) keep your sales reps hunting and only pay them on new business (plus maybe the first 90-180 days of upsell)
2) Pay sales reps on new + customer selling. If you do this and you see your reps selling too much customer selling you can always adjust comp to be overweighted toward new and underweighted toward customer selling.
Personally, I gravitate toward the 2nd option and pay reps on both. This creates continuity for the customer and helps enforce reps sell good deals. But it often depends on a lot of variables.
Do you think either of these could work for you? Let me know if you have questions about these approaches.
Channing, thank you for taking the time to answer our questions. I want to ask about growing sales reps...
How do I know when it's time to split a rep function into a rep AND a sdr? I haven't done this well in the past so I figured I'd ask...
@walterw Look at your CAC. Look at your demand. Look at what your rep does each day (hours spent on X, Y, Z). We do this regularly and recently removed SDRs from a segment since CAC was too low, reps were self-sourcing just fine and demand was high.
I've dealt with a lot of reps who don't like automation or feel like it's not a helpful addition to their workflow. How have you overcome this in the past?
I've dealt with a lot of reps who don't like automation or feel like it's not a helpful addition to their workflow. How have you overcome this in the past?
@VanessaR I've seen similar issues...my advice would be to show the value through data. Work rate, conversions, etc. But also don’t over automate. Listen to the rep to determine where automation works and where to cut back.
Looking forward to this...If you split Strategy and Ops into two teams, how do you define what success metrics are Ops and which ones are Strategy on the separate teams and what does this look like when they are one team?
Looking forward to this...If you split Strategy and Ops into two teams, how do you define what success metrics are Ops and which ones are Strategy on the separate teams and what does this look like when they are one team?
@pinnacle1234 I would say these are the success metrics in the split:
Strategy
Segment-specific sales performance
Ability to meet and achieve project-specific goals.
A question I see in groups a lot and am curious about myself is if there is a good way to judge when to introduce ops roles or departments to help sales teams, such as once the team has grown to a certain size, or other factors to use. As an ops person I would say "at the very beginning" but I realize that is not how most companies think!
I think people are looking for a magic number, like I saw one blog say once you have 100 people in your company you should have an internal RevOps department, and under 100 should have individual ops roles... I know there is no magic ratio but I would like to hear Channing's advice and experience.
Our agency is usually hired to help companies with ops later than ideally, so we have to clean up a lot of messes due to a lack of ops before us. So how can companies know they need to hire and/ or form ops departments before things get too messy and start breaking would be another way to phrase this 🙂
I signed up to get the recording, unfortunately, I have a conflict on Thursday. I look forward to watching!