Weekly Team Meeting 06/11/23

Weekly Roundup for Sales Professionals

Nov 06, 2023

Welcome Back Sales Team!

It’s another week closer to EOQ and there are a number of topics we’re going to run through today - SDRs who aren’t hitting activity targets, Why Sales People Fail, Is Cold Outbound Dead, September Industry Analysis, and more!

Before we dive into it, if you have any questions/comments that you want included in next weeks meeting, lReach out directly on twitter: https://twitter.com/BowTiedDingo or leave a comment

Questions from around the sales world:

Hey y'all, I got a couple of new SDRs through last month, we all WFH, and one of them is simply not completing many daily tasks, while the other one is simply doing everything they can to start a conversation and book a meeting.
I spoke with him on our 1 on 1 that we need to move those tasks along because we need to have messaging throughout the pipeline and hopefully either through calls, emails, or LinkedIn we can book a meeting. This week they have made only 18 calls and we're rolling past October already, while the other has already made close to a hundred.
I want to create a sense of urgency and just don't want to seem like a total asshole when I approach them at the end of the week.
What should I ask to have a better understanding of what might be happening?
I need some sincere help y'all!
Source: https://bravado.co/war-room/posts/need-help-approaching-an-sdr-who-s-not-making-calls

This is an interesting one. Firstly, activity targets are guidelines and should NOT be the goal.

Think of it this way -

If a rep is underperforming and activity is low → Increase activities.

If a rep is hitting target and activity is low → Let them work their magic.

The activities shouldn’t be tracked in a vaccum, a lot of successful reps are able to hit their targets with lower activities because of their specific skills and a different approach. Also important to note more activites does not always mean more bookings when the way they are hitting target with less activities requires a lot more manual work/customization/care. Forcing more could lower quality.

(This appears to be the case in this situation after reading more context)

No let’s assume they are NOT hitting target and are outputting low activities, that is a problem.

This could be a number of issues, is it a motivation problem, is it a training problem, time management, skill?

This is what you as a team lead need to diagnose and help with.

Main reasons I see reps with low activity are:

Motivation Problem: This is the hardest, the SDR job is a grind and everyone knows it, if they are burning out, don’t enjoy it, etc. then there could be a larger problem.

Helping them structure their day could help this - call blocks where they have tracked targets, small rewards to build the habit etc.

Getting them to a point where they are motivated though is tough and not really up to you, you can only help.

Time Management Problem: If the rep is simply managing their time badly, teach them. Work with them to build time blocks, with specific measurable targets each block/day/week and make them accountable to it.

Skill/Training Problem: In some cases, what is holding reps back is understanding what they should be doing. If you put a random person in front of their computer and say cold call - there is no way they are going to do a single call.

A few things that could be holding up the pipeline:

Unclear who/how to prospect - maybe they need to learn your ICP and how to get their contact details
Call skills - maybe they are uncertain how to conduct a good cold call and are shit scared of it for that reason
Efficiency - maybe they are working in a wholly inefficient way and the low number is the max they can do, train them on your systems.

Tech Problems: Is the software they have been given set up correctly or are they unable to complete the tasks required?

SDR Manager salary at a decent tech company?
Curious to know how much an SDR Managers make. I have a buddy who is contemplating it but we honestly have no idea what typical comp looks like, hoping the larger community can help us out so he can be in a better position when negotiating salary
Source: https://bravado.co/war-room/posts/sdr-manager-salary-at-a-decent-tech-company

This varies by location, segment, company, etc.

Simple answer can be found on Repvue:

Source: https://www.repvue.com/salaries/sales-development-manager

I'm laid off - do I pretend I'm still working to look better for job interviews?
Isn't it better to have a job while looking for a job? Should I pretend I'm still at the startup that just laid-off 6 of us?

Don’t interview and tell them that you are still working there - reference checks/background checks can uncover things you don’t want them to.

What you SHOULD do is leave your linkedin as employed, this looks better on the recruiter end.

You do need a good story to tell when you get the interview about the layoff.

Something along the lines of

“It has been a good run at XYZ company and I am proud of what I have achieved, like A, B, and C. Unfortunately we’ve just gone through a round of layoffs that I got caught in.

That being said, I am happy with what I achieved there, and the skills I have learned. Now I am looking for a role that will help me further hone and perfect those skills, while providing a place I can stay long term and hopefully move up the ladder.

Is that something that is available here?”

CEO wants me to split my commission with the business
What's up people...
I work in Sales at a Fintech startup in the payments space. Recently I, with some help from my CEO, closed a large retailer where both in-store and online integration was needed. My CEO assisted on some negotiations and because we're a small team I have coordinated a rollout into 16 retail stores with in-person training etc etc...
Now my CEO says that he was involved in the deal and so I shouldn't receive the full comm payout for the deal?
What are everyone's thoughts cos I think this is absurd

This is BS. Completely commission theft.

Executives SHOULD be pulled in as support and sponsorship of larger deals. Especially in startups. Reps should not be penalized for asking executives to do their jobs.

I would push back on this but be prepared to jump ship. Huge red flag and suggests this is not a leadership team I would work under.

A warning though, fighting this at a startup sometimes ends in “Unrelated” termination of employment.

Insight from the Discord

Some insights into the industry from Pavillion. We all know the saas industry has been going through somethings recently, so good to be aware of whats happening.

Still a lot of opportunity out there. It does mean a much greater need to qualify companies before signing on - tools like repvue.com to check average quota attainment are your best friend when only " 20% of companies have teams that achieved at least 75% of their quota."

Key Insights from September:

In September, more than half of executives failed to meet revenue targets, showing a consistent trend throughout the year.
About 52% of executives have adjusted their revenue targets for 2023, and almost half reduced targets by 21% or more.
On a positive note, 25% of companies, most of which reported doing $10 - $30M in ARR, achieved impressive year-over-year revenue growth of 30% or more.
Sales teams are struggling to meet quotas, as only 20% of companies have teams that achieved at least 75% of their quota. These teams were also affected the most by layoffs this year.
Looking ahead, 25% of companies anticipate further layoffs in the next 6 months, with 74% of those expected in December and January

Join The Discord

This Weeks Posts:

How To Run a Demo That Actually Closes Deals

BowTiedDingo

November 3, 2023

How To Run a Demo That Actually Closes Deals

Introduction Demos are pivotal moment in your sales cycle. It's where prospects turn into customers — or walk away. This guide dives deep into the art and science of delivering a compelling product demo, ensuring you're not just "dancing like a monkey" for window shoppers, but genuinely engaging with potential buyers.

Read full story

Storytelling to Book More Meetings & Close More Deals

BowTiedDingo

October 31, 2023

Storytelling to Book More Meetings & Close More Deals

Introduction Incorporating customer stories into the sales process can significantly boost the effectiveness of SDRs and AEs. This guide provides a step-by-step approach, complete with examples, on how to weave these narratives into your sales strategy to

Read full story

BowTiedDingo Updates + Mentorship Opportunity

BowTiedDingo

November 1, 2023

Hello Friends, It has been more than 2 years since I started BowTiedDingo. Originally just a place to share some of the sales insights I’ve picked up over the years with other aspiring sales pros. It has grown into a community that I am proud of. We’ve helped the community generate over

Read full story