What will be your BDR and AE sales priorities in Q3 2020?
It’s not too early to begin planning the reactivation of your sales team’s efforts, as companies start to signal a shift toward rebuilding or recovery planning for business stabilization. Our ability to examine leading and lagging indicators from pre-pandemic, January 1 to March 15, to during the pandemic, March 16 to May 30, provides an opportunity to establish a clear baseline of new key performance indicators (KPIs) to finish as strongly as possible in 2020.
Step 1: Figuring out BDR* level of effort for Q3 2020
|
Sample sales metrics and analytics: Pipeline driving high activates (BDR) |
|||||
|
Metric |
Goal period |
Pre-pandemic |
Old KPI |
Pandemic sampling period |
New KPI |
|
New opps created |
Monthly |
Jan 1–Mar 15 |
10 |
Mar 16–May 30 |
? |
|
Inbound & outbound |
Monthly |
Jan 1–Mar 15 |
15% |
Mar 16–May 30 |
? |
|
Sales activities per opp |
Trailing 30 |
Jan 1–Mar 15 |
50 |
Mar 16–May 30 |
? |
|
Client discovery calls |
Monthly |
Jan 1–Mar 15 |
150 |
Mar 16–May 30 |
? |
|
Email campaign |
Trailing 30 |
Jan 1–Mar 15 |
14% |
Mar 16–May 30 |
? |
*BDR = business development representation
MQL = marketing qualified leads
SQL = sales qualified leads
Step 2: Figuring out AE* level of effort for Q3 2020
|
Sample sales metrics and analytics: Revenue formula (AE) |
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|
Metric |
Goal period |
Pre-pandemic |
Old KPI |
Pandemic sampling |
New KPI |
|
Bookings |
Monthly |
Jan 1–Mar 15 |
$70,000 |
Mar 15–May 28 |
? |
|
Opps added |
Monthly |
Jan 1–Mar 15 |
20 |
Mar 15–May 28 |
? |
|
Win rate |
Trailing 90 |
Jan 1–Mar 15 |
26% |
Mar 15–May 28 |
? |
|
Average selling price |
Trailing 90 |
Jan 1–Mar 15 |
$25,000 |
Mar 15–May 28 |
? |
|
Sales velocity |
Trailing 90 |
Jan 1–Mar 15 |
63 days |
Mar 15–May 28 |
? |
*AE = account executive
These are the steps required to establish those new KPIs that will drive clear expectations and the right priorities across your sales team:
- Calculate the new expected KPIs for BDRs and AEs to clearly establish your sales priorities for Q3 2020.
- Build your communication storyboard to highlight plan changes and the impacts to both BDRs and AEs:
- Review pre-pandemic and pandemic data to connect BDRs and AEs to common outcomes.
- Shine a spotlight on those BDRs and AEs who have already demonstrated what is possible prior to introducing new KPIs.
- Give an overview of the balance of 2020 goals and reinforce the mutual accountability between BDRs and AEs to drive level of effort.
- Develop your sales analytics and reporting cadence to ensure you are monitoring and coaching the specific efforts, outcomes and quality. This will help you build up simple best practices to consistently grow and develop BDRs and AEs.
- Recognize the behaviours of BDRs and AEs who are consistently meeting the new baseline of KPIs.
Your ability as a leader to establish the new baseline of KPIs is critical as you begin to develop your sales planning for Q3 2020. By reviewing your pre-pandemic and pandemic sampling periods, you will be able to provide your team, executive leadership and investors with measurable short-term goals. It’s important to give a clear vision for your people and performance, and build a sense of purpose to guide the right priorities and begin shifting to quantifiable outcomes.
References:
- Atrium. Sales Management in a Downturn. April 2020.
- Interviews with MaRS growth ventures (including entrepreneurs, sales executives & BDR managers). May 2020.
Tony Cascio