Deborah Whitaker’s Post

Forecasting revenue is the BIGGEST area of focus in your financial model and for good reason. It’ll help you make good decisions for your business ➡️ Revenue Sources Framework → E•P•N Your revenue can come from one 3 sources: 1️⃣ E→ Existing Customers Here you analyze your current customer contracts Ask yourself the following questions When will these contracts come up for renewal? What is the likelihood of renewal? Will they expand / contract before the contract is up? 2️⃣ P→ Pipeline customers Here you analyze the customers who are warm in your pipeline Ask yourself the following questions: What is the close likelihood of each contract? When will the contracts close? You then take the contract value * the close likelihood... and forecast the sale on the projected close date 3️⃣ N→ New Customers These are customers you’ve never interacted with… but can expect to in the future Here, you move onto the 2nd Framework, the Revenue Growth Framework ➡️ Revenue Growth Framework → A•R•S•R This is all about how you use your business model to close new customers, resulting in new sales 1️⃣ A→ Acquire Here you measure the channels that you use to acquire customers Common ones can be: Sales reps Digital Marketing Organic Partnerships 2️⃣ R→ Retain Now you measure how long this customer will be with you Are they monthly? Annually? Month to month? Once you have this info, you can understand how much you can generate in sales from them 3️⃣ S→ Sell Now that you know how long your customers are with you, you can analyze how often you’ll generate sales from them This can be sales from your New Customers or sales from your Active Customers 4️⃣ R→ Record Now is when you record all the activity that will hit financial statements Common ones include Revenue Deferred Revenue Cost of Goods Sold Inventory Accounts Receivable Commissions

Are sales flat? You're not sure what to do. Before you go out and by the next shiny object, STOP. THINK. 1. Figure out and focus on your strengths. It's usually easier to win if you simply do more of what you do well. Don't play on hard mode, when the easy path is better. 2. Make sure processes are well documented for the areas you do well in sales. This frees you up mentally to test other ways to increase sales. 3. If you don't know which sales channels make the most money or are the most efficient, it's time to improve your accounting. Get the data you need to grow revenue.

Most businesses classify their accounts. Some do it explicitly -they have names, standards, and processes for each category- and others do it implicitly –everybody knows how to go about this account or that one. No matter how a business calls each of its accounts, the accurate categorisation and allocation of resources are critical for effective sales operations. So, regardless of the name, here’s a framework to help you classify your accounts: https://lnkd.in/gDeXbtaU

💰Is your pricing strategy strong enough? Discover weaknesses with our insights on 10 sales signals that might be limiting your success. Enhance your strategy today! Learn more at https://okt.to/cRjQW3.

Changing of the Sales and Marketing Funnel in the New Age of Business Buyers https://hubs.la/Q02xJ-ls0

Is your pricing strategy truly robust? Uncover potential weaknesses with our insights on the 10 sales signals that could be holding you back. Strengthen your approach today! Learn more at https://okt.to/OKMGWa.

Changing of the Sales and Marketing Funnel in the New Age of Business Buyers https://hubs.la/Q02Wq8-m0

Selling Mastery: The Key to Driving Business Growth and Success Strong selling skills are critical for any business to succeed. Sales teams need to continuously develop their ability to effectively communicate value, overcome objections, and close deals. Mastering selling techniques like active listening, building rapport, and handling difficult conversations can make the difference between meeting quotas or missing them. Investing in sales training equips your team with the tools to confidently and persuasively sell your products/services. Bolstering selling skills at all levels boosts revenue, customer satisfaction, and overall business growth. Don't underestimate the power of a skilled sales force. Our ‘Great Sales Handbook for Anyone Who Wants to Succeed in Selling’ is all you need to elevate your selling skills to extraordinary heights. Access it here: https://lnkd.in/eEcJEp6C

Happy Thursday SDRs! Something your manager is tracking (hopefully), that you should be tracking is your account conversion rate. This is simply the amount of accounts you are able to schedule a meeting, and bonus if you track how many move to Sales Qualified Opportunities. This is the type of stat that is going to follow you you're entire sales career. Marketers need to know the production and conversion rates of leads. CS Needs to the Retention rate, and upsell rate of their book of business and as an AE, you'll want to know your deal conversion to closed won rates. Why are these so important? Besides being an important efficiency metric, because if you can be one thing, be efficient (while performing adequately). These are also going to provide the data points on how to increase success on other accounts. The right data points collected, The questions asked the Persona's involved at each stage The industries Do the work of your future now, and the future will come quicker than you realize.

Changing of the Sales and Marketing Funnel in the New Age of Business Buyers https://hubs.la/Q02vrbBk0