Tracking Sales Pipeline Velocity: Kevin Mulrane of GlobalWebIndex
Kevin Mulrane jumped onto Sales Operations Demystified to share his knowledge and experience in sales operations and tracking sales pipeline velocity. Check out all the other episodes of Sales Operations Demystified here.
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The blurring of sales leadership and sales operations
Kevin believes that the previously separate professions: sales leadership and sales operations are now blurring. He himself is a VP of sales but still works closely with the single GlobalWebIndex sales operations resource.
From my experience interviewing over 70 sales operations people, I must agree… blending the art and softer skills of sales leadership with the scientific, harder skills of sales operations will lead to more effective sales leaders.
Sales reps need to become the CEO of their own business
Kevin echoes what a number of previous guests have mentioned in regards to empowering sales reps. Kevin ensures that every rep knows their funnel maths e.g. the amount of prospecting they need to do to fill their pipeline. He also works with each individual rep to ensure they understand the impact of small tweaks in conversion rate on overall results.
I agree that this is a very holistic approach to rep productivity, instead of tweaking fields in Salesforce, this method changes the way that reps behave each day.
Track pipeline velocity and customer acquisition cost
Just as Zach Thigpen mentioned, pipeline velocity is a crucial metric to track to understand how fast your deals are moving through the pipeline. Kevin also recommends having a good understanding of your customer acquisition cost to give a better understanding of how effective your sales and marketing efforts are.
“Winning what is winnable”
Too many sales managers work with their reps on the deals that have to the likelihood of closing, yes that deal may enable the rep to smash their quota for the quarter… but if it has a 5% likelihood of closing, is it a good use of your time?
Instead, Kevin focusses his attention and the attention of his reps on the deals that are “winnable”, they may not close that massive deal, but they will have more consistently good performance over time.
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