Ever heard what you can do with a shared purpose? Learn all about growth loops! Sales representatives show commitment when given an objective. Most are go-getters, but often SDRs also need a direction or a vision. Most leaders focus projects on a task-wise basis and those in marketing, and sales find it convinient to work within the zones. Ideally both of these functions should work in tandem, in a well-coordinated fashion to make things better for the company's profits. In sales, the internal functions like sales prospects to the people involved in the field sales, having a list of priorities apart from sales targets makes life much easier and happy.
OKRs – Objectives and Key Results
People in many hierarchies within an organization have problems aligning and focusing the sales team. Most companies have problems that usually begin like – I don't know the client's key goals…, How can I contribute.. , I am lost on…, I can't find why… Organizations don't address "lack of focus" as an issue and are concerned not on problem solving towards end goals.
*OKR: *I will do
as measured by <Key Results>.**
With OKRs we create sales alignment and engagement around measurable goals., A small measurable goal on a frequent basis leads one to 10x growth, many times over. OKRs help you keep on time and on track. What's OKR all about – In one line, its setting objectives and creating structured goals with bold objectives and measurable key results. With OKRs, we can align your team with the hierachy of your company, and track progress – be up-to-date with what really matters by engaging with your folks in real-time. Review what methods have worked in the past, learn and adjust your sales strategy on that basis.
… Any proper goal is only characterized by describing how you intend the goal be measured."
Objectives has to be pretty inspirational to motivate your salesforce, must be short and engaging. And, you can have a set of key results that are measurable (a number, quantitative value) and will focus your attention towards one direction. Sales OKRs help organizations perform better as part of an engaged salesforce.
Types of OKR candences
Strategy vs tactics have different rhythms. Tatics tend to change faster. In such cases, its wise to have OKRs based on time periods.
- Annual — A strategic cadence w/ high-level, longer OKRs
- Quaterly – A tact cadence w/ short OKRs for your salesforce.
- Weekly — An operational cadence for measurable OKR initiatives.
Sales OKR #1 Example
- Context: Company X has been figuring ways to generate automated opportunities, but it had been a hard way to convince sales teams to recognize these machine-generated opportunities as "leads".
- End Goal: Encourage sales to use AI generated opportunities.
By setting and tracking this OKR over a 24 month period, the objective was to check on the front-line of business using AI "assisted opportunties" to selling products. The sales leadership to understand how these opportunities benefit SDRs to convert potential problems to real-world use-cases by finding feasibility.
Sales OKR #2 Example
- Context: Company Z is geninuely concerned with "Rentention". They are wondering if their customers feel really happy about dealing with them, that will inturn convert new referrals and encourage them to buy again.
- End Goal: Reduce client attrition
- Reduce revenue cancellations from X% to Y%.
- Offer discounts upto X% for orders above $Y.
- Introduce loyalty program methods to improve NPS scores.
- Improve client engagement of Daily Active Users from X to Y.
- Increase organic non-paid traffic to from X to Y.
There are variety of end goals – Make customer happy at minimal costs. Use AI to drive sales revenues. Keep your OKR strategy as a task list, and not as a laundry list of all things you want to do. Do not set too many objectives. Ensure you align your key results towards the goal. OKRs are not simply new year resolutions that are meant to be forgotten.
Keep pushing yourselves harder in every direction to make the objective a reality. Talk with people and drive value-based key results. Keep it simple, fun and frolic. Make objectives that challenge your potential and make your salesforce happier. Last words – Align and engage. People often rush to tatics, but lose on strategy. Be focussed. All the best.
This week on Twitter…
.. Are you a into SALES? Check @uilo__#chennai#salespic.twitter.com/hGz8Npyk0O — ᴜɪʟᴏ.ᴄᴏᴍ 🧢 (@carzpa) November 9, 2019