Ebook KFIC 12 Top Sales Practices 2022
Ebook KFIC 12 Top Sales Practices 2022
Ebook KFIC 12 Top Sales Practices 2022
SALES
PRACTICES
FOR 2022
Only 6% of organizations
excel in the top 12
sales practices.
9%
between buyers and sellers, impacting
win-rates and revenue.
11%
sales practices of world-class sales organizations
– from culture to processes, and from talent
to technology.
higher win rates
These 12 practices are all directly linked to
tangible, quantifiable results. And while there
are many other sales practices you can adopt
to improve your sales results, these 12 will
drive the greatest impact on performance. 17%
higher quota attainment
26%
stronger seller retention
2
1 Planning makes perfect
Plan sales calls more effectively. Sellers are busy people. So, make
the most of every minute with a call planning tool that integrates
your workflows and technology. And train sellers on using it.
TOP
2 Change your spots
12
You won’t succeed with one-size-fits-all. Instead, align your
solution with your buyer’s challenges, and adjust your approach
based on their feedback.
3 Talent matters
Close workforce gaps with a talent strategy. The right strategy
accelerates sales because it puts the right people in the right position.
Hire for future needs and consolidate talent oversight under sales.
6 Embrace difference
Diverse, inclusive organizations perform better than their peers.
Ensure your sales leaders and managers lead with purpose, eliminate
subjective people processes, and create development plans for
individuals from under‑represented groups who show potential.
These represent the top 12 world-class sales practices, ranked in no specific order 3
7 Quality not quantity
Improve your data quality by cleansing your existing CRM data. Then set a
framework that governs where and how you store your data, defines what
data you collect and retain, and assigns ownership of your data strategy.
11 Collaborate to dominate
Align sales management, operations, and enablement. These three
functions often operate independently. Create a coalition by finding new
ways to work together, creating an environment that welcomes dialogue.
These represent the top 12 world-class sales practices, ranked in no specific order 4
1
We effectively use call
Planning WHERE TO START
WORLD-CLASS
perfect that allows sellers to gather information to
share and use to win deals.
74%
agree
KEY INSIGHTS
that don’t connect seamlessly with their
workflows. If your tool adds tedious steps
that aren’t meaningful or can’t integrate
Sellers typically spend 20% of their time with your existing tech stack, sellers will
planning their calls. That cuts into the be less likely to use it.
already limited time in their schedule —
30% — devoted to selling. » Train and coach your sellers on how to
use call planning tools. To drive greater
World-class organizations take advantage of adoption, show your sellers how call
ALL call planning tools to reduce the time sellers planning tools can help them quickly
24%
spend preparing for sales calls. And with an figure out how to address each buyer
average of 6.2 buying influences involved in persona. Sales managers can help sellers
a sale, their sellers make the most of their save additional time by focusing their
call preparation to tailor their interactions call planning efforts on calls that require
agree so they can stand out from the pack. documented, formal planning.
5
2 WHERE TO START
buyers’ needs.
your spots » Align your sales methodology with your
buyer’s journey. Your sales methodology
is your foundation. To take it to the next
level, it’s critical to align your sales process
with your buyer’s path. To create a formal
WORLD-CLASS map of your customer’s journey, include all
stages, from awareness to implementation
94%
agree
KEY INSIGHTS
and support. Along the journey, track
decisions and defining moments, or the
times when customers form an impression
A one-size-fits-all approach to buyers of your organization.
doesn’t work. When sellers work backward
and tailor their solution to the buyer’s » Focus on the voice of the customer.
context, challenges, and desired outcome, In our 2021 Buyer Preferences Study,
they’ll become more successful. Part of buyers ranked ‘talked too much, did
that success depends on a seller’s ability to not seem to listen’ as the second most
ALL master perspective. Delivering perspective impactful negative behavior exhibited by
52%
— tailored insights that help customers see sellers. Prepare questions that will elicit
a challenge or opportunity in a new light insights that you need to move your deal
— instead of a laundry list of features and forward. Ask your buying influences for
benefits can convince decision-makers to feedback and use their input to refine
agree move a deal forward. your approach.
6
3 WHERE TO START
94%
agree
digitalization. Hire for what you forecast your
needs will be, not what they currently are.
32%
World‑class organizations outnumber the levels, and voluntary and involuntary
rest three to one in believing that their attrition. Supplement this objective data
talent strategy delivers people with the with qualitative feedback from new hires,
right capacity, competency, and capability exit interviews, and clients. Every quarter,
agree to succeed in the future.. review your data and refine your strategy.
7
4 WHERE TO START
external methods.
favorites » Look deeper than the sales numbers.
Sales organizations often promote their
top sellers to manager roles. But this
isn’t always the most logical progression
because the two roles differ significantly.
A data-driven assessment can better
WORLD-CLASS KEY INSIGHTS identify candidates with the competencies
and drivers that will enable them to lead.
94%
agree
Even before COVID-19, it took an average of
four months to fill an open position. And once
filled, it took nine months to get a new hire up
» Build a pipeline of future leaders.
Employees who want to advance their
to full productivity. Now, the timeline is longer, careers need to know that their employer
and it’s even harder — and costlier — to recruit is investing in their development. Internal
external talent. assessments can help you recognize
gaps in skills and competencies that
When organizations have an effective process you can fill with additional training and
that identifies internal candidates, it saves time coaching opportunities. When you help
ALL and money. But perhaps most importantly, your sales team identify their strengths
30%
these candidates are already embedded in your and weaknesses, they’ll be able to set
workflows, values, and culture, relieving some clearer goals for improvement. They’ll also
of the onboarding pressure. The key is to create be more engaged, be more likely to stay
a systematic, repeatable process for identifying with your organization, and be primed for
agree internal candidates who will excel in new roles. future opportunities.
8
5 WHERE TO START
94%
agree
is enough to convince sales leaders that their
sellers are “good.” In others, leaders define
“good” in terms of how sales reps sound when
your industry.
33%
data to measure the traits and capabilities achieve their goals. Using data to develop
of their top performers. This gives them a personalized learning strategy ensures
a solid foundation to base their hiring that your sellers will receive information in
and development decisions, to replicate the way that’s most meaningful to them,
agree winning behaviors in their other sellers. accelerating their growth.
9
6 WHERE TO START
Embrace
managers must articulate your purpose
Our sales organization’s and model the behaviors you want to see
throughout the organization. Leaders
internal culture is both
and managers need to exhibit inclusive
diverse and inclusive.
94%
KEY INSIGHTS promotion, and retention processes
can be breeding grounds for conscious
Sales organizations that are diverse and and unconscious bias. A data‑driven,
agree inclusive report stronger metrics than their skills‑based system can help eliminate
peers across the board. And adhering bias and ensure those hired and rising
to diversity, equity, and inclusion (DE&I) through the ranks have the training and
practices has the greatest impact on tools they need to reach the next level.
reducing voluntary turnover.
» Identify people in underrepresented
ALL Achieving DE&I goals is a process — there’s groups who show potential. Offer them
54%
no easy fix. There isn’t a singular initiative development opportunities and start a
or program you can implement and check growth planning process for them. With
the box. Instead, you’ll need a foundation of training, coaching, and sponsorship, you
values and goals, that are transparent and can fast-track their development and
agree reinforced, to create lasting change. ready them for leadership roles.
10
7 WHERE TO START
83%
agree
for many sales organizations. They simply
don’t have the right data practices to yield
high-quality insights. And, since the average
Consistent oversight is necessary to ensure
that you follow through on your strategy.
Sales leaders should delegate ownership
sales organization has 10 sales technologies, of different parts of the strategy, such
many sales organizations are generating as data security to your IT team and tool
useless data streams that can’t help them selection to your sales operations team.
understand their customers or market. A data governance committee, composed
of representatives from across your
Organizations need to earn the return on their sales organization, should evaluate your
ALL investment in these systems. One way to do progress and look for gaps in your program.
27%
that is by developing a sales data strategy The committee should also periodically
that turns data into an asset. Organizations review your strategy, including your systems
that develop clear data strategies have higher and technology, processes, data roles and
win rates and quota attainment than those responsibilities, data quality, and data usage,
agree that don’t. to assess the need for change.
11
8 WHERE TO START
We have a rigorous
forecasting
process that drives
Don't close-but-not-quite-closed opportunities,
particularly as they struggle with a lack
of pipeline and increasingly limited time
to sell.
forecast accuracy.
guess, » Generate predictive data. Document
a data strategy that helps your sales
know
organization use your data as an asset.
Encourage your sellers to see entering
data into your CRM as a good investment
WORLD-CLASS of their time, so they can get greater
visibility into current deals and better
92%
agree KEY INSIGHTS
predict future opportunities.
39%
hard to use consistently, or it’s lacking in inaccurate reports. Sellers can evaluate
formality. As a result, fewer than 25% of sales opportunities more objectively when their
organizations have forecast accuracy of 75% managers coach them to look at their
or greater, according to our 2020-2021 Sales prior experience, buyer roles, and buyer
agree Performance Study. decision‑making process.
12
9 WHERE TO START
Managers consistently
coach salespeople Never stop term. They use their social, communication, and
questioning skills to show sellers opportunities
for improvement. There are five types of
strategic coaching conversations: lead and
to higher levels
of performance.
learning opportunity, skills and behaviors, funnel,
account, and territory.
94%
agree
Most sales managers coach their sellers
— if you define “coaching” as interacting
with their sellers. But most don’t do so
they won’t develop your managers’ coaching
skills. A formal approach defines areas for
coaching, develops a coaching process
consistently or with a clear goal in mind. connected to the buyer’s journey, requires sales
Few sales managers do more than help managers to improve their sales coaching skills,
their sellers close individual opportunities. and monitors the impact of sales coaching.
When sales managers coach well, their » Focus on quality, not quantity. Sales managers
sales reps are more likely to make their with many direct reports often think they don’t
ALL goals. But too many coaches employ a have enough time to coach. But it’s not about
41%
random or informal approach. Effective the time managers spend; it’s the substance of
coaching has a clear plan, schedule, and the coaching that matters. Effective coaching
strategy. Without a consistent approach reinforces your sales methodology and process
to coaching, even the most effective sales and models the same skills that sellers can use
agree managers lose their impact. to build stronger relationships with buyers.
13
10 WHERE TO START
We use sales analytics Big data, » Replicate your sales approach. If you
have a consistent sales methodology,
you’ll be able to use your data to analyze
to measure and predict
sales performance.
big wins successful deals. Most importantly the
methodology you use should allow you
to know which data is meaningful and
therefore deals can be reviewed along
the path to closing. Known leading
vs lagging indicators provide a better
WORLD-CLASS KEY INSIGHTS approach than searching randomly for
patterns. Sellers who consistently engage
91%
agree
CRM systems and supporting sales technology
platforms give sales leaders access to rich
amounts of data — the challenge is to
in the right behaviors to get to the best
customer outcome will be easy to find
as will those who do not.
extract insights from this data that you can
use to measure and improve your sellers’ » Identify gaps that require coaching.
performance. If you’ve got high adoption Analytics can highlight sellers’ weaknesses.
of your sales technology tools, particularly For example, accounts can be at risk if a
your CRM, and if you’ve implemented a data seller has a narrow reach or span in the
governance strategy, it’s time for the next step. account. This can be seen in the account
ALL management system or CRM. The sales
37%
Advanced sales analytics technology can offer manager who is easily able to identify this
your sellers specific guidance about how to issue can coach a seller on how to identify
increase the likelihood of a sale. These insights and work with a range of buying influences
help sellers improve win rates and perform who are key decision makers to improve
agree consistently at a high level. the likelihood of success.
14
11 WHERE TO START
Collaborate
updates in your CRM don’t align with the
opportunity planning methodology your
teams are using, tell sales operations.
If sales operations realizes that a new
Sales management,
operations, and
enablement are
effectively aligned
to dominate prospecting tool with buyer intent data
introduces a slightly different buyer
persona, partner with sales enablement
to add the persona and develop value
messaging. Set goals for these areas
to drive results. KEY INSIGHTS that you can work toward together.
The vast majority of world-class organizations » Challenge each other. Each group
report alignment between their sales should have a unique perspective, and
management, sales operations, and sales collaboration doesn’t mandate agreement.
WORLD-CLASS enablement functions. Sales management is Healthy discussions on each group’s point
responsible for executing the sales strategy, of view may improve innovation and clarity
94%
agree
including hiring, developing, and retaining
sales reps. Sales operations sets up the go-to-
market plan, including setting processes and
across the sales organization.
39%
these three groups. That requires much more and skill gaps that need to be addressed.
than having all three report to a CSO or Similarly, sales operations and sales
CRO. It requires constant collaboration and enablement should inform sales managers
checking in, even if all three are operating on of future changes so that they can support
agree separate tracks at full speed. their sales teams.
15
12 WHERE TO START
90%
agree
KEY INSIGHTS
how they engage with your organization at
the different stages of their journey.
39%
later in the buying cycle. Siloed thinking and from not only their relationships with
planning mean that each team addresses each various buying influences but also from the
customer piecemeal, so they lack a consistent data captured in their sales technology,
approach and, in the end, don’t serve their helping them to better understand their
agree common goal. customers’ business objectives.
16
Conclusion
The message that we’ve gleaned from compiling the top 12 sales practices
that contribute to world-class sales results is that they all of which boil
down to finding and investing in the right people and making it easier for
those people to excel in their role.
But this was also the message of the Great We recommend that you start in one of two
Resignation, millions of people quit their areas: either the sales practice that’s easiest
jobs to look for the next opportunity. to address that will yield the biggest payoff or
the opportunity that’s causing you the most
If you aren’t developing your new hires, pain. Obtaining alignment between sales,
building a diverse and inclusive culture, marketing, and service will likely be a heavier
or offering technology and tools that make lift than using call planning tools effectively
work easier, your sellers will simply move on or implementing more consistent coaching.
to the next opportunity where they will find If you succeed in one area, you’ll gather
someone willing to invest in them. momentum as well as support to continue
striving toward world-class status.
It can be daunting to consider making all
of these improvements at once. We don’t If you’re ready to start your journey to become
suggest tackling more than one or two sales world-class, we can help. We’ll help you assess
practices at a time. And there is no single your sales organization against these 12 best
correct starting place. practices and recommend how you can start
transforming your sales organization today, so
you can close the gap between where you are
and where you need to be.
Contact us
to learn more.
kornferry.com
17
APPENDIX A: THE 12 PRACTICES – PERCENTAGE AGREEMENT AMONG WORLD-CLASS SALES ORGANIZATIONS
We effectively articulate solutions that are aligned to buyers’ needs. 94% 52%
Our talent strategy ensures we have the people capability to achieve our business goals. 94% 32%
We have an effective process to identify candidates for roles from within our organization prior to filling roles 94% 30%
through external methods.
We have a clear, externally informed understanding of what “good” looks like for each of our sales roles. 94% 33%
Our sales organization’s internal culture is both diverse and inclusive. 94% 54%
Our sales organization is highly confident in our CRM data. 83% 27%
We have a rigorous forecasting process that drives forecast accuracy. 92% 39%
We use sales analytics to measure and predict sales performance. 91% 37%
Sales management, operations, and enablement are effectively aligned to drive results. 94% 39%
Sales, marketing, and customer service are effectively aligned on customer wants and needs. 90% 39%
18
APPENDIX B: STUDY METHODOLOGY
19
APPENDIX C: 2021 WORLD-CLASS SALES PRACTICES STUDY – DEMOGRAPHICS
20
When you bring together world
class sales practices with proven
sales methodology powered by
the Intelligence Cloud, you get
more than information. You get
actionable insights, housed in a
repeatable, consistent framework
that can help your sales team
manage their time, prioritize the Korn Ferry is a global organizational consulting firm.
right deals and close more sales. We work with our clients to design optimal
organization structures, roles, and responsibilities.
We help them hire the right people and advise
them on how to reward and motivate their
workforce while developing professionals as they
navigate and advance their careers. Our 7,000
To learn more about Sales experts in more than 50 countries deliver on five
Effectiveness Solutions powered core areas: Organization Strategy, Assessment
by Korn Ferry Intelligence Cloud, and Succession, Talent Acquisition, Leadership
contact us kornferry.com Development, and Total Rewards.