Beau Noonan

AMA: Matterport Enterprise Sales Director, Beau Noonan on Sales KPIs

June 7 @ 10:00AM PST
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Matterport Enterprise Sales Director, Beau Noonan on Sales KPIs
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Beau Noonan
Beau Noonan
Matterport Enterprise Sales DirectorJune 8
Here is my approach to aligning quarterly/annual sales OKRs with broader business objections: * Define business objections: Identify the key regional business objectives for the quarter or year. They should be specific, measurable, achievable, and time-bound. For example, increasing central enterprise region revenue by 20% in the next 180 days. * Determine sales objectives: Based on business objectives, establish sales-specific objectives that support broader goals and are tied to revenue targets. For example, increasing Stage 1 conversions by 20% within the next 90 days. * Assign projects: Assign specific projects to members of the sales team based on their skills, expertise, and areas of responsibility. * Align individual OKRs: Connect individual projects to sales team OKRs by setting individual key results that contribute to overall sales objectives. * Success Criteria: Clearly define the success criteria for each individual project and how they contribute to the overall sales objectives.
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Beau Noonan
Beau Noonan
Matterport Enterprise Sales DirectorJune 8
Here are a few good OKRs that I focus on within my region: * Objective: Increase Revenue Growth * Result: Increase sales stage conversation rate by x % * Result: Increase average deal size by x % * Objective: Enhance Customer Retention & Satisfaction * Result: Increase net dollar retention rate for existing enterprise clients * Result: Generate a certain percentage of revenue from upselling and expanding customers. * Objective: Optimize Sales Process & Efficiency * Result: Decrease sales cycle duration by x % * Result: Improve win rate of inbound qualified leads * Result: Implement a new tool such as CI to improve productivity
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Beau Noonan
Beau Noonan
Matterport Enterprise Sales DirectorJune 8
Once the KPIs are clearly defined, communicate the rationale via a meeting and/or deck with key stakeholders (managers, cross-functional team members, reps, executives) and provide supporting resources before launch. Once these are completed establish regular check-ins with key stakeholders to keep everyone up to speed.
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What KPIs should I own and not own?
I'm working at a start-up, and a first sales hire.
Beau Noonan
Beau Noonan
Matterport Enterprise Sales DirectorJune 8
Here are the KPIs I believe a Sales Director should own: * Regional Revenue: * Total revenue generated by the sales team. * Sales Pipeline Value: * Measures the total value of all potential deals in the regional sales pipeline. * Conversion Rates: * Track the percentage of leads or prospects that convert into paying customers. For me, there is a strong focus on tracking conversion of Stages 1 - 3 to identify potential selling gaps within the rep and/or team. * Average Deal Size: * Can add insight into product offerings, the potential for upselling, and how we are selling "value". * Team Performance Metrics: * Tracking individual and team performance metrics by the number of closed deals, revenue contribution, activity levels, and quota attainment Here are the KPIs I believe Sales Directors should not own: * Sales Cycle Length: * This should be monitored by every sales leader to identify bottlenecks within the sales process but should be owned as a revenue team due to it involving a number of cross-functional folks that play a part in this. Whom the KPI falls under depends on the org. * Net Dollar Retention: * Since this is tied to retaining and expanding revenue from existing customers, account management or customer success should own this with the support of sales.
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Beau Noonan
Beau Noonan
Matterport Enterprise Sales DirectorJune 8
Rep ramp-up time in my opinion is something that I've seen companies completely overlook. Given the boom tech has been on over the last decade many companies have skipped tracking key fundamentals from the moment you decide to hire the rep to the moment they hit quota due to them smashing their numbers. A key example of this is certifications around product knowledge. Assessing an AE's product knowledge and understanding of the enterprise software solution they are selling is key to this period. This can be achieved through role-playing, pitch certification, standing and delivering on specific product value props, etc. We've veered away from rigorous sales onboarding training in exchange for throwing them in the deep end quicker hoping they'll hit quota, succeed, and contribute to the company without laying the proper foundation.
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