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Entrepreneurial Sales

Recap of Webinar 9 by Elizabeth Fuller MacKellar

· Venture Development,sales

Speakers Craig Wortmann, Professor at University of Chicago Booth School of Business, provides sales conversion insights, and Mark Roberge, Chief Revenue Officer at Hubspot, author of Sales Acceleration Formula, and Senior Lecturer at Harvard Business School, gives in depth guidance on building a consistent sales organization.

Both speakers offer valuable methods for talking with people and the slides showcase each framework. All materials are available free online.

Craig's tactical Entrepreneurial Selling Process outlines 3 phases of winning early customers.

  1. Preparation – targeting customers – filtering – concise messaging around their particular pain;
  2. Execution – 3 primary things: Engaging the prospect, make the match, do the deal; Analytical Phase: Relationship management, measurement. Stretch sales process (was this customer my target customer, was he best for my business, how can I get him to love my business).
  3. How to draw target customer in – four forward gears and a reverse - The art of the sales conversation – from small talk to constructing a Sales Trailer, a well thought out answer to “what do you do?” “What does that mean”, and turning “How do you do that” into a qualifying question to find out if the person you are talking to is your right guy. And then how to move on to find the next.

Next Bill Aulet introduced MIT Alumni Mark Roberge who achieved $0-$100M in sales at HubSpot by applying his data science technology view of the world to scaling a sales team.

Mark outlines his HubSpot mission: scale-able predictable revenue growth. But what was most important to him was how to create a repeatable process as it applied to his sales staff. Understanding how to: 1) hire the same successful sales person 2) train sales people to align with the modern buyer 3) provide quality & quantity of leads 4) work the leads using same process & measure results

  1. Hiring – what and how do you look for specific qualities. Mark explained that success is different based on the context of the company and founders need to create their own criteria. Look back at why your sales people are doing well vs poorly and if those characteristics are in your formula.
  2. Selling philosophy keep your buyer in mind and map their journey, not yours. Nice schematic of HubSpot’s inbound sales methodology
  • Identify
  • Connect
  • Explore
  • Advise

Mapping to customer journey of

  • Awareness – educate self on problem,
  • Consideration – what all is out there
  • Decision – view a demo

3. Mark talked about modern techniques to generate leads using Blog, SEO, Social media – develop content to educate and attract people to you. To do this, Founders and Executives do not need to blog, rather give interviews to in-house journalists. Journalists hold the keys to demand generation and can be directed to write e-books, blog articles, schedule social media posts on topic, pointing back to blogs. In turn this creates high ranks in google search, and high conversion rates for the sales team because their buyers are pre-educated.

4. Build a sales organization based on coaching. The role of the Sales Manager is to develop the team. What makes a good coach? Don’t overload with feedback – start with the one or two that will make the biggest difference. Use metrics to drive sales culture – measure each sales persons leads created, leads worked, demos delivered, unit sales. Then look at CONVERSION RATES = worked lead%, worked lead to demo%, and demo to unit sold %. --- target coaching accordingly.

Both Mark and Craig emphasized that success in closing a sale is dictated by the moment one minute before you ask – walk them back to their pain point and perceived result and bring up what they shared, how your solution can help and what you can do for them, and get them to agree.

In addition to the presentation materials, Mark encourages everyone to check out his free video courses on Inbound Selling under Hubspot sales certification: http://certification.hubspot.com/inbound-sales-certification

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