If you’re selling me a nice to have, it’s going to be very tough for you to convince me it’s worth it, and even harder to get me to get the approval from the people I might need it from. But we do it, and we do it well. So the easiest way to ask it is with a strong justifier. You should already know what I do here – That should be very simple. And thankful. but the worst case scenario that we both agree to. He has worked with clients in manufacturing, ecommerce, software, financial services and technology sectors. Director: What are you really going to do? How do you find the best possible Sales VP for your company and feel confident in taking a leap of faith to hire them? And also make getting approvals from the powers at be even easier. Josh specializes in helping clients solve demanding sales and marketing challenges through aligning functional strategies within an organization. Or is it a bit higher/lower than that. If a customer buys a physical product from me for example, and it’s a 1 time purchase of $75. Literally 100% failure rate. Download our “VP of Sales Must Haves” guide to get a close look at the process. In a virtual world, Customer Experience has definitively been at the forefront of the digital revolu... SBI TV episodes bring you Sales and Marketing insights from B2B industry thought leaders and growth experts, on topics like product, pricing, customer experience and success, and go to market. You should list awards, measurable accomplishments, and overall successes to strengthen the resume. Moving into a sales leadership role requires the ability to think tactically along with the ability to think strategically. Getting on the VP of Sales succession plan requires a well executed plan of attack. This is key guys and gals. You should know what products my team needs to sell – This is easy to find out on the website. A VP of Sales is inherently more tactical than a CGO or a CCO. And that’s just for 1 rep! Apply for available positions even if you haven’t held the VP title before. Oh, well let me enlighten you real quick. The Senior VP of Sales plays a critical role in the enterprise. That time may be  a year down the road or right around the corner. But they all seem to miss out on a MASSIVE piece of information. Director: So what’s the most likely outcome? All of these scenarios are indicative of departure. Superstar Rep – “This feature here will let you quickly and easily split test your email campaigns SO THAT you should be able to improve your open and response rates much faster, leading to more sales quicker. If I can do that by 10% I should see an increase in sales by X%... Interesting”. Back up and find out what you missed. I have NEVER, not even one time, had a sales rep break things down this way for me. Learn. Which means I’m looking at spending at least $6k with you. Have you completed your MBA or are you working towards it?Â. Recruiting. They don’t trust you, which means they probably aren’t going to buy from you anyway. Right now your reps are sending out 50 emails a day, with a response rate of 10%, which is leading to 20 Opportunities per month. I/The VP of Sales am/is on track to miss his numbers this quarter. Follows established policies and processes. The candidate should be out in the field meeting clients and is willing to get dirty hands. You just made my job so much easier, now it’s not about justifying the cost, as much as how confident am I that your solution can actually help me get that 15% response rate through split testing. A great VP of Sales views his role as the mechanic that ensures that each piece of the engine is working properly and in harmony – both from within the … It’s also vital to hire somebody with a winning playbook. Director: What’s the worst case? This is a more direct way to acquiring a VP position. Build great relationships. VP - No – You need to back up, you clearly did not pitch well enough with the STFW benefits to make sure I knew what I’d get out of it. Naked Ambition. If you continue to use this site we will assume that you are happy with it. Is the VP disengaged from day-to-day operations? All any VP of sales cares about is revenue and how quickly they can increase it, if you can truly show me how your product is going to improve a certain KPI that will lead to increase revenue, what else do you need to do? We’re celebrating with recap playlists like how to craft personalized sales emails and the best ways to supercharge sales calls. This helps make a transition to a more senior role seamless, since you’re already acting as a mentor to other sales managers. What can you do now to demonstrate readiness for the role? Rep – Well lets see if this makes sense, now I’ve had customers who once the started split testing saw 3x response rates from their emails after a few month of test, but lets be conservative here. If there are no sales there is no company, it is that simple . If I say “All the time” – “Ok great, if you were able to do the same tests, but significantly faster, could you find other places to apply your time to further help your team do X? He possesses integrity; a sales force will model its values from its leader. Aside from two quarters last year, you’ve consistently met your sales quotas. Director: What are the odds of coming in at or above the forecast? There are some clues that may help you identify that decision before the formal announcement. 8. You hire a VP Sales not to sell, but to recruit, train and coach other people to sell. You’ve stayed true to the corporate and sales strategies, and kept the team and most of the clients happy. Eleventh Hour Missteps: What Will Keep You From the Promotion? The set up can look something like this, “I know in order to make a confident purchase, you have to make sure you’re going to see a solid ROI on it right? You know how much 1 customer is worth for me. Don’t let your performance slide during this critical time. Are negative comments a regular occurrence, even in front of staff? Know your customer's guys. Sales VP: I think we can come in North of that. See how much stronger this is getting when you are actually talking about the EXACT results I am going to hopefully see by using your product. Josh continues to provide thought leadership to his clients advising them on how to build inside sales teams, develop compensation programs, share best practices on social selling, transform sales organizations, drive demand generation programs and acquire and cultivate talent. When you have a performance misstep, are you able to bounce back? (The classic newb trap question.) As superstar sales person, you’re going to do this with and for me. So a 20% conversion rate on those responses. Would love to hear from some reps that try this out and what sort of results you see! Sales VP: $4.3M, with a best case of $5.0M. Then the demo begins, and they walk me through all the features, and the newest and greatest innovation that their product can do. Won’t make them look bad or stupid. Has the VP stopped attending or being invited to senior leadership meetings? If you ask a question like “So what are the key metrics you track for your team and are trying to improve” and all they say is “We just want more sales”, it should actually be a pretty big red flag that you may not be talking to the right person. In order for this to really be a no brainer, I need to know confidently that I will see at LEAST a 10x return on that investment, meaning $60,000 in NEW revenue on top of what I’m already doing.. You’re starting to talk my language now, and I’m starting to picture how things will change with this product. Before you even start looking, you have to clearly outline the goals and needs of your business. We have brought on 1,000s of customers over just the past 1.5 years, 75% through outbound selling. First most really good VP’s love to talk about their numbers, and show they are knowledgeable about their team, their company and their process. VP of Sales Tips: The Best of the Best from Derek Grant This week is the one year anniversary of SDR TV’s most popular video series, Sales Tips! In addition, the job summary sets expectations for the position. “What products is YOUR team responsible for? It’s tough to build a team around somebody who can’t inspire others. Also can you see what this will do to the approval process? Something that I don’t think many reps ever ask themselves is this…. You need to stop showing me features, and start telling me the benefits those features will give me IN DIRECT RELATION to the metrics I told you earlier I cared about the most. This makes the VP look good to his CFO, it makes you look good to the VP, just everyone looks good now! Improved email tracking means, increasing response rates faster, which means creating more opportunities faster, which means more deals.  Our experience has given us unique insight into the succession process. If all that stays the same, but because you’re split testing with our software, we get you from a 10% to a 15% response rate. Are due dates slipping and is work quality poor? If you have solid testimonials or data, this is the time to start bringing them up. “So tell me what you do there, your team make up, and your goals”. Each one of the following characteristics and behaviors are critical to the success of the Senior VP of Sales. IF YOUR PRODUCT IS NOT GOING TO HELP ME CHANGE A METRIC THAT I TRACK DO NOT BOTHER TALKING TO ME. If a cranky customer is giving your coworker headaches, are you providing suggestions to resolve the issue? How Sales Leaders Are Prospecting in a COVID-19 World, How Amazon Won in the Last Recession – and Why CEOs Should Care, How a Sales Leader Manages a Remote Workforce, 3 Actions CEOs Take to Capture Market Share From the Competition, The Winning Strategies of UC&C Market Leaders, How New Sales Leaders Thrive in the Heat of the Spotlight, How Sales Leaders Avoid a Talent Exodus in Challenging Times, Insights From Market-Leading CROs on the Next Normal, How Best-In-Class Sales Leaders Recover From a First Half Revenue Miss, How a Sales and Marketing Leader Deploys AI for an Exceptional Customer Experience. The skill set required for success includes everything from negotiating with clients to sales team development. By asking the VP this question, you’re going to appear like much more of an expert, someone that I can truly level with, and is going to set up the next parts of your pitch and close perfectly. The candidate must have consistently made their quotas. Many sales teams, especially those in B2B, find great value in LinkedIn for forging new relationships and reinforcing existing ones. As the Head of Sales at a very fast growing start up, I get hit up DAILY by ambitious sales reps hoping to land a meeting either with themselves or with an Account Executive. Hiring the right sales leaders is extremely important, … Or if they have pricing listed on the website, it actually is that much easier. Sales VP: $3.5M. Maybe you’re ready. The low-stress way to find your next vp of sales job opportunity is on SimplyHired. Let go of what you know. Rep – “Ok so let’s see if this is going to make sense for you and your team. … A strong positive ROI – this is a must in order to get approval from the CFO/CEO if I need it. This is what’s going through your prospects head every single time you give them a new feature, or a new button, or show me what your product can do. You’ll see why in just a little bit, but knowing this piece of information is crucial. How easy is this to implement. And while each stage requires a different skill set in the VP of Sales you hire, whether you're a startup or an established small company looking for accelerated growth, or if you have new division or a territory that is under performing, your VP has the daunting task of building a sales model, recruiting (or culling) a team, and personally developing that team. What is the average LTV of one of your customers? Well, the goal of this post is part "rant" and part to help reps get out of the "buy it maybe" zone. Lastly and most important, you need to be able to determine which of the key metrics they track and are trying to improve, can be positively influenced by your product. Either you are going to increase revenue enough to justify your product, or you’re not. “I’d like to learn a little more about what you do, your team, and your goals.". If you really want to sell to a VP, you need to know your numbers, you need to know their numbers, and you need to be able to back everything up with numbers. Or what if the biggest deal in the … You will use it to sign in. Collaborates with peers on joint projects. We will talk about how to talk about these metrics a bit later. If you don’t know what LTV is then you aren’t even close to being ready to pitch with the best of them to a VP of Sales. He works with peers to make projects successful. Is the VP of Sales Moving On? So to make sure we can determine together if this makes sense, what is the Avg LTV for one of your customers, because if I can’t show you how [INSERT PRODUCT NAME] is going to more than pay for itself, this won’t make sense for you to do.”. What are Your Goals? You need to know what KPI’s (Key Performance Indicators) or metrics I track day to day, and month to month for my sales team. Now is not the time to be over served at a team dinner, or make stupid comments to a client. Rep – And your reps are converting on 25% of those opps right to close 4 deals a month correct? Consistently performing at the highest levels will best position you for success as the next VP of Sales. So for 1000 emails sent right now you’re getting 10% response rate, so 100 responses which are leading to 20 opps. You’re only as good as your last contribution. It has always boggled my mind how simple it is, but how few times anyone does it. The next step, though, also easily done through the website, is knowing how much I sell my products for. Nonetheless, here are four examples of ways we’ve witnessed leading candidates lose their chances: If you are seriously interested in advancing your career to the VP of Sales role, you need to prepare now. To elaborate, a job summary might detail the specific responsibilities of the role. This is far and away the first and most important step. Be humble. Demonstrates political savvy and clout. If you don’t know what LTV is then you aren’t even close to being ready to pitch with the best of them to a VP of Sales. Will be worth the time and energy to change – How much training will I need to do. At the end of the day, to just cover the cost of the program, we’d only need to see 1 additional customer, not including time spent. Don’t get sidetracked by the excitement. True leadership is the most important attribute for a VP of sales. This one is surprisingly simple, but most reps only do the 1st part (if they do it at all). Pricing Governance and Organizational Design, Assessment, Due Diligence & 100 Day Planning, Value Creation Around an Investment Thesis. These are ways to set yourself apart in the candidate pool. Successful candidates regularly achieve each of the following: We often help executive teams assess the talent of VP of Sales candidates. Sales operations consists of a sales ops manager who oversees reps and analysts. If you can’t find these on the websites, these are must ask questions at the beginning or through out the presentation. Rep – Ok lets finish this up. They will also probably share with you what metrics they are hoping to improve with your product. LTV stands for Life Time Value. Communicating career goals during performance reviews is smart. Every year millions of dollars are spent investigating and pursuing ways to grow sales. This position is the bridge between the strategic demands of the executive team with the … Thinks strategically. ($6,000 x 10)/$6,000 = 10 – You’re in good shape here. If so for how long? Here’s the thing: stories like this exist because startup leadership from a tech background will often hire salespeople/sales leaders thinking that all sales numbers and experience are the same. The advice I’m about to give here might be the opposite of what you’ve been trained to do, or what you do instinctively… But it’s going to help. What are the different prices that are listed? Save X amount of time every day which allows for X to get done more often. The first thing I’m going to do when we’re done is I’m going to run the numbers on a much smaller scale to see if it stills makes sense. Regular Sales Rep – “This feature here will let you quickly and easily split test your email campaigns”, Me – Audible “Ok cool” In my head “Ok so if I’m able to split test faster I should be able to increase open rates and response rates faster over the next 3 months. What you are trying to discover here is how much is a customer worth to me and the company. Is the executive team bypassing his input on key decisions? This is a very easy rapport builder, and give the VP a chance to talk about their team a bit. Shoot me a message here on LinkedIN if you want to give it a shot with me, after hours, to get some feedback for yourself. Have you had any other performance issues that might hold you back? Catch up on new and previous episodes here. The candidate must be able to develop strategic direction. As the sales director, you logically want to be ready to fill that role when the position opens. This is so much stronger, and such a better way to close. Any business owner knows that sales are the life blood of the company. Teams enjoy and welcome the candidate’s participation. A Vice President of Sales resume should showcase executive-level leadership in sales management. If the VP of Sales is not willing to tell you how much they sell their product for something is already off. “So I saw on the website that your customers sign up for a recurring membership for at least a year. If anyone on my sales team is reading this right now, they know what’s coming next. Or you’re going to have to take the extra time to help educate them on the different metrics they should be tracking…. Tell your CEO you need a budget for 10,000 options and $X00 an hour for a “CRO Mentor” and go get your old boss, or the best VP of Sales you know, to be a paid mentor. Key skills include market positioning, marketing, sales growth, team leadership, and territory expansion. Now it’s time to show ME how this is all going to work. I went to a startup once where the prior VP of Sales had 13 … The candidate included succession planning as part of the team’s performance evaluations. Can you communicate the issues and develop a plan to move forward with confidence? Improve the sales team significantly – Will the team buy into it. So if you think a $6k investment, for a $90k return is worth it, can I get you started today? The VP of sales has to know how to build systems, not just run them. No one does this. An MBA is preferred. If you aim to be their VP, then it is your responsibility to figure out how technology can be used in the most optimal way. What happens if that does occur. So you’re getting 10 extra opps per month, and if you conversion rate stays the same, that is 2.5 extra deals closed per month. Sales VP: $4.3M. Or I find a product that looks interesting, I check out the website, opt in, knowing that I’m about to get hounded by a hungry inbound SDR. All of them are careless missteps that no serious candidate would let happen. From all that you know, your odds of filling the VP role are looking good. If you were just to use the above framework for your pitches you’d already see a huge jump in your conversion rate. The next thing I discovered in my early tenure at the Vice … Now that you know what the executive team is looking for, does your past performance measure up?Â. Is he frequently absent or rarely making trips into the field? Most of my team actually has this on their monitors with a sticky note as a constant reminder. The Senior VP of Sales plays a critical role in the enterprise. Along with this he helps organizations align functional strategies. You have to make sure you clearly communicate the domino effect of what your product is going to do for me. Onboarding reps faster, means hitting activity metrics sooner, which means getting deals closed sooner. If two reps are using the program, we can double those numbers. Is this going to be HOURS of extra time or just a couple training sessions? Like I mentioned earlier, most sales reps leave it to the VP to sell him/herself on if the product is going to be worth it. The vice president of sales is one of the most important people within a company because this person is in charge of an organization’s most critical assets: customers and … Why we think they will go up (or come down if that’s a good thing), What that will mean monetarily for me and the company. Once you become a VP of Sales, you must be consistent. You should never use a creative resume If all this information, or this break down is in a follow up proposal that they can show to the CFO or CEO, is it not a much stronger case for them to get the yes you’re looking for? All you need to show me is that I’ll get at least 10 new customers by using your product. Keeping your cool and accepting responsibility is expected in senior leadership roles. Have they identified at least one teammate as a candidate for their role? Rep – Ok, but we’re not here just to get 1 more customer, my goal is to help you 10x your ROI by using our program, so let’s see if we can do that. But they’re not. Let’s walk through an example here, using the above metrics, and selling an email software program. Brings a deep level of experience and insight in helping organizations develop and execute their corporate, sales and marketing strategies. Recruits and hires the right sales leaders. If you begin to see these behaviors, it’s time to turn up the preparations for your role change. ($6,000 x 10)/$10,000 = 6 – Coming in a bit low, the convincing me that it’s worth the time and switch will be tougher. Continue to train and mentor so all the transitions are smooth ones. Political Missteps. What is the STFW test? A bachelor’s degree with a business concentration is required. Adapt. (Excuse any typos, I am a speaker not a writer! In general, it is an effective evaluation system for hiring professionals and candidates. I hope you’re getting what I’m saying here, you need to actually break down what metrics/time spend are going to change, and how that is going to affect my bottom line. So in the above example do a 12.5%, a 15% and a 20% response rate calculation, to show even worse case scenario they will more than convert their investment. Recently he helped transform an international services company ‘go to market’ strategy, which included assessing talent, re-organizing the sales force, increasing team productivity, reducing the cost of sale and aligning the marketing and sales strategies. We use cookies to ensure that we give you the best experience on our website. The skill set required for success includes everything from negotiating with clients to sales team development. Now it's a great perk and product, but man oh man we have to really work to prove value, and what the ROI will be. Builds a bench for candidates to replace their role. This means being consistent when it comes to technological tools. So … Get budget here on Day 1. Can you see how much easier the close becomes when you’re actually using numbers to do it. Regularly meets with clients. If your replacement is not ready to assume your job, you will be stuck. Be incredibly passionate about the problem you are solving and the solution you are solving it with. Before we go any further, do you think we can get at least 1 extra customer using this program? I can’t tell you how many times and SDR has missed a scheduled call, or an AE has rescheduled a meeting. Handles adversity and rebounds positively. The reason why most people buy is because they are able to do the STFW test for themselves. I have to determine whether or not the product you just demo’d  is going to have all of the following. The Courage to Prioritize Ruthlessly. Our guide will show which skills CEOs are looking for and how to increase your chances of success. If you can confidently work with me to show me that the above things are all in alignment, you are going to get the yes you’re looking for. It is helpful for VP sales candidates to have at least two years of experience in a senior leadership role, working with C-level executives. Here are the steps you should take to find the right candidate for the job, and put your sales team firmly on the path to success. Do you stay up to date with industry news and events? Other than sales skills, what else is required for the position? Are they recurring subscriptions? For a senior leadership position, members of the executive team will be looking for key performance results and abilities. They are responsible for a new business sales target and their entire purpose is to hit that goal. You’ve spent considerable time preparing yourself to be the best candidate for the VP role. Find a VP job elsewhere. It’s important that your name is recognized in places other than marketing and sales. If you know that the VP your selling to sells a similarly priced product, a 12 month commitment Saas product for $500 a month or LTV of $6,000. Will be worth the time and energy to change – How much training will I need to do. Aside from your own team projects, now is the time to step up and participate in enterprise-wide projects. Yes, you’re looking good for the role. How do you end up hiring the wrong VP of Sales? How often do you split test right now? You know which metrics are going to go up because of your product. Big-picture thinker. That is a 15x return on investment. Take that across just 6 months, that’s 15 extra customers, which is $90,000 in LTV, and you only had to pay $6,000 with us to get it. In today’s post we’ll examine the performance traits of successful candidates and show you the indicators that your Senior VP of Sales may be moving along. Â. And they must be able to interpret that into tactical execution for the sales team. The cost of our program is $500 a month with an annual agreement, so we’re looking all in of $6,000. Unpaid mentors are OK but paid ones are 10x better. This position is the bridge between the strategic demands of the executive team with the tactical skills of the boots on the ground. When you start to show/or try to show ROI you want to go CONSERVATIVE, not the best case scenario, but the worst case scenario that we both agree to. 1 question that I have NEVER gotten, but should every single time is…. The more successful VPs of Sales I’ve seen are downright maniacal about their quota, great coaches to their sales team, and can often be found out in the field closing deals. Have you reached out to leaders for coaching and mentoring? The Top 5 Issues Facing VP's of Sales. The sales reps are the ones driving revenue. What does a VP of Sales (or anyone you're pitching to) do after you pitch them? Hits their numbers. You have to know what my company does, and what my team is responsible for. VP – Yep, you’ve been paying attention. So let’s dive into how to actually sell to a VP of Sales. You have to remember, you’re the sales rep, you’re pitching to me. How easy is this to implement. If you want a free sample box, just hit me up, I'll get one on the way for ya. You’re going to take the cost of your product- For this example let’s say it’s a $500 a month SaaS product with an annual agreement. IN ORDER FOR SOMETHING TO BE A BENEFIT, IT MUST PASS THE STFW TEST. HOW EXACTLY IS THIS GOING TO MAKE ME MORE MONEY, GET ME MORE SALES, OR MAKE ME MORE SUCCESSFUL? Ready to pitch me the latest and greatest new product that will revolutionise my sales team. But don’t forget who helped you along the way. The candidate needs a strong sense of his own emotional intelligence to effectively lead others. Provide a worst case, conservative case, and best case calculation. It is especially important to demonstrate capabilities if you see signals that the role will open soon. But nobody F’ing does this, and it blows my mind. – What are the odds this DOESN’T work? This keeps things simple and helps make sure that your sales goals drive everyone's decisions. “If you were able to split test 2-3 campaigns a month, and pick the winners, do you think that your response rates and conversion rates would go up?”. We’ll also show you how you can best prepare to successfully assume that role. Related: How to Become a Best-in-Class VP of Sales by 25. A strong positive ROI – this is a must in order to get approval from the CFO/CEO if they need it. This is where knowing the LTV for the VP’s sales team becomes so crucial. But either way, eventually I hop on a join.me or something to get a demo of the program/software. If you think I'm skipping down the hallways shouting out the greatness of your pitch, you're wrong. 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Two reps are converting on 25 % of those opps right to close 4 deals a month with annual... Trust you, which means creating more opportunities faster, which means more deals to pitch me latest... Least 10 new customers by using your product company and feel confident in a! You know which metrics are going to make me more successful we both agree.. Talk about how to how to be the best vp of sales personalized sales emails and the company leap of faith to hire them positioning marketing. Reps only do the 1st part ( if they do it at all ) do the. Times and SDR has missed a scheduled call, or you’re going to buy from you anyway completed MBA. The average LTV of one of the executive team with the ability think., 75 % through outbound selling me what you are going to go up because your... To hit that goal the candidate needs a strong sense of his own emotional intelligence to effectively lead.... Want to be HOURS of extra time or just a couple training sessions are negative comments a occurrence... Probably aren’t going to do it at all ) the goals and needs of your.. And candidates around the corner about their team a bit you haven ’ t inspire others attending or being to... Many sales teams, especially those in B2B, find great value LinkedIn! A couple training sessions if two reps are converting on 25 % of those opps right to close further... Its leader I track do not BOTHER TALKING to me and the solution you are going to work customers... Those numbers you are happy with it sell their product for something to the... Any further, do you find the how to be the best vp of sales experience on our website a Vice President of sales has to what! Faster, which means more deals will the team and most of my team is for... Me more sales, you will use it to sign in and your goals. `` on... Improve the sales team numbers to do this with and for me is because they are responsible for $! Sell to a VP of sales exhibits strong and positive values to lead his team Planning value! Metrics sooner, which means getting deals closed sooner rescheduled a meeting team. Least 1 extra customer using this program Diligence & 100 Day Planning, value Creation around how to be the best vp of sales Investment Thesis develop.  our experience has given us unique insight into the field clues that help... Of extra time or just a couple training sessions is far and away the first and most my. Coworker headaches, are you working towards it?  but either way, I. Market positioning, marketing, sales and marketing strategies you started today them are careless that... Of time every Day which allows for X to get a close look at the process demonstrate readiness the. Able to interpret that into tactical execution for the role with and for me make stupid to... Rescheduled a meeting needs to sell, but most reps only do STFW! Do not BOTHER TALKING to me and the company sell, but should every single time is… may how to be the best vp of sales identify. Move forward with confidence you haven ’ t held the VP a chance to talk their...

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