Fill the Gap to Quota Guide
FILL THE GAP TO QUOTA GUIDE DETAILS
5 Non-Negotiable Actions to Fill the Gap
Definition and Details
The number is always higher than you thought it would be. Make sure you
understand how it will affect your team’s managers and sales reps. For example,
you are still recovering from the slow first quarter start this year. Getting your New
Year quota higher and later then you expected screwed you up. This year think about
how you can assign the extra quota. Answer these questions:
1. Don’t Panic
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Do you need Herculean efforts to achieve it?
Do you have at least 3x quota in the pipeline?
Do you have to increase your demand generation efforts to get new
leads?
Do you have enough sales people to cover the new quota?
These are all questions you must answer quickly to make the number. Set up a
planning session with your sales managers immediately. Brainstorm on how you
are going to make this new number. Or plan how you are going to hit the increase
from the original number.
Break the number down with the answers to Step 1’s question. You need to now
answer a different set of questions:
2. Reduce to the Ridiculous
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How many big deals must you sell by quarter end?
How will you stimulate demand?
How can you build up to 3x quota in your pipeline?
How many actual opportunities by sales person is that?
What/How do I train my sales people to generate more demand?
How many appointments does each sales rep need to generate?
What do my Sales Managers need to do to make sure this happen?
Answers to these and other questions get into the tactics of the strategy
© 2013 Sales Benchmark Index
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Fill the Gap to Quota Guide
developed. Tactics make the strategy come to life.
This is the most important step. It requires documenting the daily and weekly
actions of everyone. Sales Managers and Reps need to have the first 30-60 days
focused on actions. Actions that generate revenue. Make sure their schedules
include:
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3. Create and execute to a Daily and Weekly
Plan
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4. Implement Big Deal Strategy
Big deals make the number. Implementing a Big Deal Strategy allows you to get
these opportunities closed quicker and for a higher price. Set up Weekly Separate
meetings to strategize on these large deals. Ask this series of questions to start each
session off correctly:
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© 2013 Sales Benchmark Index
Daily demand generation activities. It applies to new logos and
cross-sell/up-sell to existing customers. Everyone must work on
generating lead daily.
Weekly deal strategy reviews. These are accomplished either
through one on ones or in strategy sessions. They examine the
opportunity through the customer’s buying process lens. They are
critical to advancing sales.
Weekly training sessions. Typically these are done in the sales
meetings. Staying current with the buyer is critical. Diving specific
on the how the customer is buying will drive quicker/larger sales.
Embrace more effective methods. New ways to accomplish the
tactical plan actions is critical for immediate success. For example:
o Social prospecting increases the percentage of decision
maker’s appt. by 3.6x.
o Sales processes that are mapped to a buying process
shorten the sales cycle by 20%.
o Improving on new ‘A’ player competencies help shorten
ramp to productivity over 30%. Critical if you need to hire
new sales people to hit quota.
Is the Buyer collaborating with you to define their problem and needed
solution?
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Do we know the specific date when the Buyer needs the campaign to be
executed?
Has the Buyer expressed their need or described their objectives?
Does the Buyer understand the difference between expressed, unexpressed,
and unknown needs?
Has the Buyer quantified how their problem affects their costs and/or
revenues?
Have you identified the Buyer's "Buying Decision Team" (BDT)?
Have you provided Commercial Insight to the BDT?
Have key members of the Buyer's BDT been introduced to your executive
sales leadership?
Has the Buyer expressed how long they have been experiencing their
problem?
Was there an objective method to define the Buyer's problem? (or was it a gut
feeling?)
Has the Buyer discussed the political benefit to move forward with this
solution versus other possible solutions?
Do we know the Buyer's past attempts at solving the problem? (include
successes and failures)
Has the Buyer stated that "do nothing" or the "status quo" are NOT options to
solve their problem?
Pipeline Deal Strategy is similar to Big Deal Strategy. But this is done during the
regular One on Ones your Sales Managers have every week. Make sure you
incorporate it into the One on One Agenda. Start with these questions:
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5. Implement Pipeline Deal Strategy
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© 2013 Sales Benchmark Index
Has the Buyer expressed their need to us?
Did the Buyer quantify how their problem affects their costs and/or
revenues?
Have we identified the Buying Decision Team?
Has the Buyer established a decision timeframe for addressing their need?
Does the Buyer understand the consequences of inaction or remaining with
the status quo?
Do the key players support the uniqueness of our solution?
Has the Buyer told us their current vendors are under-performing
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Fill the Gap to Quota Guide
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FILL THE GAP TO QUOTA
GUIDEthe
DETAILS
Understand
Difference
Have you walked the buyer through a risk discussion
Are there any signs of resistance among key stakeholders?
Has the Buyer indicated their key "must-haves" from the negotiation?
It Takes To Make Up The Delta from The New Number
Number of
Number of Prospects
Number of
Prospects
Needed at Win Rate and
Difference from
Avg. Sales Avg. Sales
New Deals
Needed at Win Avg. Sales Cycle to Make the
Original Number
Price
Cycle Length
Win Rate
Needed
Rate
First Quarter Number
100,000
15,000 4 months
35%
7
20
9
With the averages above, you need to sign 9 deals in the first quarter (or $135,000) to make the number. This is due to the average sales cycle length.
Thus, you need to sell not 20 deals in the first quarter but 26 deals.
© 2013 Sales Benchmark Index
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