Sales Audit

Sales Management Audit List

We know the Market 

1)        We understand the size of the market and its growth rate.  

2)        We know how much of the market is addressable.

3)        We know strengths / weakness of how each competitor goes to market and how we can give ourselves the best chance to win.

4)        Ideal Customer Profile–We have defined the characteristics of a prospect/customer that most values our products and solutions.  We regularly give such prospects/ customers priority over others.

5)        Account Potential–We know the spend potential of each of our prospects/ customers.  We have ranked accounts according to the spend potential we have not yet captured.

6)        Customer Acquisition Cost– We know the cost to acquire each of our customers.  And we have aggregated this data to know the cost to acquire a customer in a given segment.

7)        Life Time Value–We know the lifetime value of each of our customers.  And we have aggregated this data to know the lifetime value of a customer in a given segment.

8)        Propensity to Buy– We know how likely a given customer is to buy each of our products and/or services.  We use this information when prioritizing prospects/customers to target with a given offering.

9)        Buyer Process Maps– We understand our buyers, what they care about and how they make a purchase decision.  We have documented this information visually to help our sales team spot where a given buyer is in their decision process and step is likely to come next.

We know how to plan sales numbers     

1)            Pro-Forma Revenue/Cost Model–We have financial models that summarize how we are going to make the revenue number.  And we have financial models that summarize the costs associated with this.

2)            Revenue KPIs–We know which revenue KPIs to measure.  We are tracking a combination of leading and lagging measures.

3)            Sales Plan – We have a detailed execution plan that details what we are going to do in pursuit of the revenue goal.

4)            Resource Allocation – We have planned how we are going to allocate resources (time, budget and people) to give ourselves the best chance of making the number.

5)            Budget Method – We have evaluated and selected the right budget method for us. Chosen from Percentage of Revenue, Competitive Benchmarking, Objective Based, Affordability, etc.

6)            Approved Budget – We have gotten a budget approved that is realistic based on our revenue goals.  And we feel comfortable that this budget is sufficient.

7)            Approved Headcount – We have gotten a headcount approved that is realistic based on our revenue goals.  And we feel comfortable that this headcount is sufficient.

8)            Data Architecture – We know what data we have, what data we need and where we have gaps.  We have designed a data architecture that will provide us with the data necessary to make decisions.

9)            Data Cleanliness Plan – We know what data is clean vs. dirty.  And we have a plan that keeps our critical data clean.

10)        Data Stewardship Plan–We are clear about who owns what data.  And what this ownership responsibility means.

We know how to engage with the market           

1)            Social Selling – We have adopted social selling as a modern way to generate leads.  We have equipped our sales team with a step by step playbook that helps them execute social selling.

2)            Prospecting rules book – We have equipped our sales team with a step by step book that helps them execute traditional prospecting techniques to generate leads.

3)            Prospecting Certification Process –We have defined a process for certifying the sales team knows how to prospect.  And this process includes techniques beyond testing like role plays, external use validation, etc.

4)            Gamification Method–We have defined a gamification process that motivates the sales team to utilize the prospecting process.  The result is satisfactory levels of adoption

5)            Sales Process –We have a sales process that is aligned with how buyers want to buy from us.  We have equipped our sales team with a step by step playbook that helps them execute our sales process.

6)            Sales Process Certification & Gamification Process–We have defined a process for certifying the sales team knows how to use the sales process and have motivated the team to use it through gamification.

7)            Adoption Plan – We have defined the adoption plan down to the individual rep/manager level.  This includes considerations around compensation, time, cadence,

8)            Field Testing Plan – We have utilized a field testing plan.  As a result we know our sales process (or changes to our sales process) will produce the desired results.

9)            Sales Manager Coaching rulebook – We have defined a sales manager coaching process that helps the reps execute the sales process in the job.  We have equipped the sales management team with a step by step book that helps them execute our coaching cadence.

We know how to organize  

1)            Buyer Channel Preference–We know, and have validated, which sales channels our buyers want to engage with.

2)            Channel Coverage Model – We have adequate coverage across the sales channels that our buyers prefer.

3)            Competitive Channel Analysis – We know which channels our competitors utilize and the success they have with each.

4)            Org Chart Stress Test – We have stress tested our org chart.  We know where it is strong and where there are weaknesses.

5)            We have defined the responsibilities for each of our sales roles.  For each of our core processes, it is clear who should do what when.

6)            Accurate Org Chart – Our org chart is up to date and accurate.  It reflects the current state of our sales team.

7)            Top Down Headcount Model – One way we plan headcount is using a top down approach.  We take the overall sales goal and determine what each individual resource needs to produce.

8)            Bottoms Up Headcount Model – One way we plan headcount is using a bottoms up approach.  We take the production of each individual sales resource and aggregate it against the overall sales goal.

9)            Time Study – We perform regular time studies.  We understand how each resource is spending their time.  And we act on this data to optimize selling time.

10)        A Player Score Card by Role–We have scorecards for each role that define what ‘A’ player performance looks like.  As a result our team knows what is expected of them.

11)        Talent Assessment Process–On at least a semi-annual basis, we assess our talent.  We act on this data through resourcing decisions, IDPs, etc.

12)        Candidate Selection Process–We have a defined process for how we make hiring decisions.  And have validated this process helps us consistently acquire top talent.

13)        Individual Development Plans (IDPs)–Every member of the sale team has an individual development plan.  Accomplishing these IDPs is a priority for the team.  And they guide the regular coaching discussions with management.

14)        New Hire On Boarding Process–We have a new hire onboarding process that shortens time to productivity.  This plan maximizes how new hires spend their time and provide early signs of who is going to be successful and who is not.

15)        Coaching Methodology– We have a coaching methodology that on a daily basis reinforces the performance of each sales team member in the job.  And is used to develop team members for future career advancement.

16)        Performance Review Process–We have a performance review process that is executed at least once a quarter.  The output of this process is used to correct or reinforce the performance of each member of the sales team.

17)        Territory Design Process–We have a territory design process that creates balanced/optimized territories.  As a result we have placed the right reps in the right territories

18)        Territory Planning Process–We set goals for each territory.  And have a tactical plan that when followed enables each rep to attain their goal.

19)        Quota Setting Methodology– Our quota setting process translate the corporate revenue goal into sales quotas that reflect the potential of each territory.

20)        Benchmarked Comp Plans–We have accurately benchmarked our compensation plans.  We have determined how we want to pay relative to the benchmarks.  And we use this information to constructoptimized compensation plans.

We know how to execute    

1)      Centralized Sales Enablement Team–We have defined the objectives for the sales enablement team.  Ownership of sales enablement is clear and the team is centralized.

2)      Content Audit – We know what content sales needs to be effective.  We have identified where we have coverage and/or gaps.  And have a plan to address the gaps.

3)      Content Creation Process–We have a process for creating sales enablement content.  We have secured the resources needed to execute the content process.

4)      Sales Training Program – We know the competencies, skills and knowledge training needs of the team.  And have a program in place to address these needs.

5)      Mobile Sales Playbooks–We have packaged our sales enablement content into mobile playbooks that make the needed information available to the rep when they need it.

6)      Technology Automation – We have all the core technologies in place to facilitate sales enablement - mobile playbooks, sales portals, content management system, partner resource center, learning management system, etc.

7)      Certification and Gamification Process – We have defined a process for certifying the sales team knows how to use the sales enablement tools and have motivated the team to use them through gamification.  The result is satisfactory levels of adoption.

8)      Coaching Methodology – We have a coaching methodology that on a daily basis reinforces the sales enablement expectations of each sales team member while attempting to use the tools in the job.

9)      Sales Enablement KPI Scorecard – We know how to measure the return on our sales enablement investments.

10)  Adoption Plan – For each new sales initiative we launch, we have a plan do drive sales adoption that accounts for everything a manager and rep needs to change their behavior.  The result is satisfactory levels of adoption.

11)  Pipeline Management Process – Our pipeline management process results in an accurate representation of the out quarters pipeline.

12)  Forecast Management Process – Our forecast management process enables us to accurately call the in quarter number.

13)  Quarterly Business Review (QBR) Process – We have a QBR process that helps us make the number while not being a distraction for the team.

14)  Data/Analytics/Reporting Strategy – Our Data/Analytics/Reporting strategy serves up accurate sales insights.  These insights enable everyone in the organization to make the right decisions.

We know how to support

1)      Easy to Process Pricing Exception–Our pricing exception process is easy to use, fair with its outcome and helps close deals.

2)      Easy to Process Contract Exceptions – Our contract exception process is easy to use, fair with its outcome and helps close deals.

3)      Efficient Order Management – Our order management process is easy to use and helps close deals.

4)      Easy to Process Comp Exceptions – Our compensation exception process is easy to use and fair with its outcome.

5)      Marketing Automation – We are power users of Marketing Automation.  We have maximized our investment and leverage it to close more sales.

6)      CRM – We are power users of CRM.  We have broad adoption of the system.  We have maximized our investment and leverage it to close more sales.

7)      Mobile Playbooks – We have enabled our team with mobile playbooks.  These mobile playbooks make available the information our sales team needs at the moment they need it.

8)      Learning Management System (LMS) – We have an LMS that enables our training program.  We use the LMS to track participation and identify future training needs.

9)      Partner Resource Management (PRM) –Our partners feel they have access to all the resources they need through our PRM system.  This helps gain mindshare and close more sales.

10)  Gamification Tool – We have a gamification tool that positively incents reps to perform the desired activities.  As a result we achieve satisfactory levels of adoption of new behaviors.

11)  Incentive Comp Automation –Our Incentive Comp Automation tool provides visibility into rep compensation.  As a result, the calculations are accurate and the payments are timely.

12)  Contract Administration Software –Our contract administration software removes friction from the contract process.  As a result customers agree we are easy to contract with.

13)  Configure-Price-Quote (CPQ) –Our CPQ system saves the reps time when configuring, pricing and quoting solutions.  As a result the reps are able to spend less time on CPQ activities and more time selling.

14)  Quote-to-Revenue–Our Quote-to-Revenue process is optimized.  It accurately tracks transactions across all quote, contract and revenue phases.  It alerts us to exceptions while proving the necessary visibility to Sales, Legal and Finance across all quote, contract and revenue phases.

15)  Online Collaboration–We have maximized our investment in online collaboration.  As a result the team is able to share best practices real time.  And as a result of real time collaboration, our win rates have improved.