Forecasting the Future
Insights from sales leaders on forecasting, funnels and the future of sales
Hello Friends -
Another week where my normal day to day activity directly impacts the content of this newsletter.
If you have forecasting, funnels and the future already figured out - go ahead and skip this one. If not, read on…
In this week’s edition of Stretch Weekly -
Jason Lemkin (SaaStr) chats with Sam Blond (Brex) to discuss the future of sales post covid.
InsightSquared CEO, Todd Abbott on the sales funnel and where/how a sales leader should focus their efforts.
Jim Benton, CEO Chorus.ai and Trey Boyer - VP Sales at Hudl discuss the importance of accurate forecasting and behaviors to go from commit to close.
Plus more formulas and snippets from sales leaders on forecasting, funnels and the future of sales.
THANKS for reading!!
-Grant
And lastly - as always, if you find this newsletter valuable- subscribe or share it with someone who might as well 👊.
STRETCH SHARES
The Future of Sales Post-Covid
In this episode of the SaaStr podcast, SaaStr CEO and Founder, Jason Lemkin, chats with Sam Blond, Chief Revenue Officer at Brex. Together they discuss the future of SaaS sales and buying cycles in a post-covid marketplace.
Highlights:
Hiring plans, remote work
Comp alignment across different territories
Buyers want help NOW not scheduling a meeting later
SDR training over Zoom etc. (activity blocks!)
Sales Leader Blindspot: Early Stage Funnel
Excellent summary of the sales funnel with InsightSquared CEO, Todd Abbott on where/how a sales leader should focus their efforts.
Top tips to focus on as you lead your team through building pipeline, and improving funnel throughput.
Assess cadence of sales management (reps behavior will align to priorities their managers focus on)
Capture your revenue team’s engagement activity w/out burdening them
Use data and analytics for insights on how best reps are engaging at stages in the funnel.
Establish a cross-functional sales-cycle review process
They are best held one-on-one between the sales manager and sales rep, making the meeting most productive for the sales manager to use this forum to coach the reps on tactics and strategy on the opportunities within the rep’s territory.
Commit to Close & How to Forecast Accurately
Loved this podcast Jim Benton and Trey Boyer - VP Sales at Hudl discuss the importance of accurate forecasting and the behaviors that drive a deal from commit to close.
Great episode with some actionable tips to fine-tune your own (and your teams) forecasting chops. (Industry average of 40% of forecasted deals end up closing????)
Highlights:
Trey’s 3-pronged approach: (start with reps, use data, gather weighted pipeline numbers)
Coach reps to forecast accurately
Rules/requirements for “committed” deals
Maintaining deal momentum with metrics and activity
“We know that, on average, there are 7 days between each meeting in a deal that ends in closed-won. This is a key tracker to make sure deals are healthy and maintaining momentum. When we notice deals are lagging, we take immediate action.” - Trey Boyer
STRETCH SNIPPETS
😭 Belal Batrawy says when selling, remember: Loss Aversion > Potential Gain. “Our brains are hardwired to avoid loss. That's why loss aversion is 2X more powerful than the pleasure of gain”.
👉 4 Simple Ways for Sales Leaders to Stay Sharp in 15 Minutes Per Day via Mike Weinberg
🧐 Former COO of eBay (Maynard Webb ) talks remote work and predicts what’s next for the workplace.
🎯 Brendan Zhang argues you don’t want reps to hit 100% of quota and should aim for 60%. What do you all think? Too low?
👀 David Katz with Storyblock gives us the formula (and levers) to calculating and improving pipeline velocity. (SQLs x ACV x % Win Rate ) / Sales Cycle in Days
👂 Sellers/Managers to do one thing others don't: Deliberately listen for what's NOT said. - Sales Enablement Podcast with Andy Paul
🧠 Mindset
LOVED LOVED LOVED this podcast with Michael Hyatt and Greg McKeown talking about work/life success.
Thanks for reading!
My hope is if you find this valuable, consider sharing it with friends (or signing up if you haven’t already).
— Grant 👋
About stretch vp: confessions, learnings, and insights from sales leaders in SaaS
Compiled and aggregated from a network of sales leaders in SaaS, Stretch VP showcases learnings, insights, and experiences as well as best practices to overcome common hurdles, obstacles, and setbacks in your quest for excellence as a sales leader in SaaS.
Are you a VP, Director, thought leader, or content producer in the SaaS space? We’d love to have you contribute. Contact Me HERE.
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