The sales reps are the ones driving revenue. What does a VP of Sales (or anyone you're pitching to) do after you pitch them? Big-picture thinker. He has worked with clients in manufacturing, ecommerce, software, financial services and technology sectors. You should never use a creative resume If you want a free sample box, just hit me up, I'll get one on the way for ya. With the global shift to working from home, UC&C companies have witnessed a record amount of dem... As a sales leader, it is necessary to understand the performance levers which impact your bottom lin... As a newly hired sales leader, it’s tempting to sit back and enjoy the honeymoon phase of the ... Iconic customer programs generate fierce loyalty and accelerate revenue growth. Then the LTV of that customer is $75. “I’d like to learn a little more about what you do, your team, and your goals.". There are over 1,239 vp of sales careers waiting for you to apply! Take that across just 6 months, that’s 15 extra customers, which is $90,000 in LTV, and you only had to pay $6,000 with us to get it. Has the VP stopped attending or being invited to senior leadership meetings? Even if the VP you’re talking to has to get something approved by the CFO or CEO, if you have clearly stated, proven, and put in writing which metrics are going to go up, and how your program is going to pay for itself 5x over… Consider the deal signed. Something that I don’t think many reps ever ask themselves is this…. But don’t forget who helped you along the way. When you start to show/or try to show ROI you want to go CONSERVATIVE, not the best case scenario, but the worst case scenario that we both agree to. You also HAVE to know what the key metrics or parts of the sales process that your product is more than likely going to have a major effect on. With an LTV of $6,000, you’re seeing an additional $15,000 a month in customer LTV per month. Reps spending less time building lists, which means more time for being on the phone (also saves money on hours spent), which means more calls made, which means more opportunities created, which means more deals. VP – Yep, you’ve been paying attention. What could possibly go wrong during the search process?Â. If all that stays the same, but because you’re split testing with our software, we get you from a 10% to a 15% response rate. You’ve spent considerable time preparing yourself to be the best candidate for the VP role. Collaborates with peers on joint projects. Right now your reps are sending out 50 emails a day, with a response rate of 10%, which is leading to 20 Opportunities per month. There are a few ways to kill your chances. You have to know what my company does, and what my team is responsible for. Save X amount of time every day which allows for X to get done more often. Naked Ambition. It has always boggled my mind how simple it is, but how few times anyone does it. In addition, the job summary sets expectations for the position. How often do you split test right now? We have brought on 1,000s of customers over just the past 1.5 years, 75% through outbound selling. If they say they have to get it approved, then you MUST include this calculation in your proposal to them. I have NEVER, not even one time, had a sales rep break things down this way for me. How easy is this to implement. The next thing I discovered in my early tenure at the Vice … You just made my job so much easier, now it’s not about justifying the cost, as much as how confident am I that your solution can actually help me get that 15% response rate through split testing. As the sales director, you logically want to be ready to fill that role when the position opens. Rep – Ok lets finish this up. Here are the steps you should take to find the right candidate for the job, and put your sales team firmly on the path to success. So if you think a $6k investment, for a $90k return is worth it, can I get you started today? So a 20% conversion rate on those responses. What is the ROI that I’m going to see from your product? Recruiting. This position is the bridge between the strategic demands of the executive team with the … Keeping your cool and accepting responsibility is expected in senior leadership roles. You have to remember, you’re the sales rep, you’re pitching to me. Have you reached out to leaders for coaching and mentoring? Don’t get sidetracked by the excitement. Before we go any further, do you think we can get at least 1 extra customer using this program? 8. Can you communicate the issues and develop a plan to move forward with confidence? Back up and find out what you missed. Also can you see what this will do to the approval process? These are ways to set yourself apart in the candidate pool. The successful Sales VP spends a lot of time outside of sales. You should know what products my team needs to sell – This is easy to find out on the website. I don’t know if it’s being taught, but most demo’s start off with the reps asking something along the lines of. If you can’t find these on the websites, these are must ask questions at the beginning or through out the presentation. Oh, well let me enlighten you real quick. Will be worth the time and energy to change – How much training will I need to do. Political Missteps. This means being consistent when it comes to technological tools. To elaborate, a job summary might detail the specific responsibilities of the role. Most of my team actually has this on their monitors with a sticky note as a constant reminder. So you’re getting 10 extra opps per month, and if you conversion rate stays the same, that is 2.5 extra deals closed per month. Finally, have you identified opportunities to let leadership know you want to move up? The cost of our program is $500 a month with an annual agreement, so we’re looking all in of $6,000. Tell your CEO you need a budget for 10,000 options and $X00 an hour for a “CRO Mentor” and go get your old boss, or the best VP of Sales you know, to be a paid mentor. This is where knowing the LTV for the VP’s sales team becomes so crucial. Right? Handles adversity and rebounds positively. Other than sales skills, what else is required for the position? Director: What are you really going to do? Recently he helped transform an international services company ‘go to market’ strategy, which included assessing talent, re-organizing the sales force, increasing team productivity, reducing the cost of sale and aligning the marketing and sales strategies. Know your customer's guys. If you’re selling me a nice to have, it’s going to be very tough for you to convince me it’s worth it, and even harder to get me to get the approval from the people I might need it from. All of these scenarios are indicative of departure. Find a VP job elsewhere. Josh specializes in helping clients solve demanding sales and marketing challenges through aligning functional strategies within an organization. Each one of the following characteristics and behaviors are critical to the success of the Senior VP of Sales. The Senior VP of Sales plays a critical role in the enterprise. LTV stands for Life Time Value. Let go of what you know. Unpaid mentors are OK but paid ones are 10x better. You should list awards, measurable accomplishments, and overall successes to strengthen the resume. If you want to move up, have you identified someone to move into your role? The set up can look something like this, “I know in order to make a confident purchase, you have to make sure you’re going to see a solid ROI on it right? Recruits and hires the right sales leaders. Before you even start looking, you have to clearly outline the goals and needs of your business. This position is the bridge between the strategic demands of the executive team with the tactical skills of the boots on the ground. VP of sales candidates must have seven to 10 years of experience in a sales leadership role, at least four years of experience in a selling role and at least two years of experience working with sales technology and CRM. Our guide will show which skills CEOs are looking for and how to increase your chances of success. If a customer signs up for an annual contract of $500 a month, that customer is worth at least $6,000, with probable opportunities for upgrades. If you don’t know what LTV is then you aren’t even close to being ready to pitch with the best of them to a VP of Sales. Hiring the right sales leaders is extremely important, … Provide a worst case, conservative case, and best case calculation. Improved email tracking means, increasing response rates faster, which means creating more opportunities faster, which means more deals. Rep – And your reps are converting on 25% of those opps right to close 4 deals a month correct? Thinks strategically. Is the VP of Sales Moving On? Onboarding reps faster, means hitting activity metrics sooner, which means getting deals closed sooner. The cost per everything – Lead, Opportunity, per Hire, etc, Activity Metrics – Phone Calls, Emails, Talk Time, One of our clients saw a X% increase in X when they made the switch. Literally 100% failure rate. A strong positive ROI – this is a must in order to get approval from the CFO/CEO if they need it. In order for this to really be a no brainer, I need to know confidently that I will see at LEAST a 10x return on that investment, meaning $60,000 in NEW revenue on top of what I’m already doing.. Won’t make them look bad or stupid. We’re celebrating with recap playlists like how to craft personalized sales emails and the best ways to supercharge sales calls. “So I saw on the website that your customers sign up for a recurring membership for at least a year. Teams enjoy and welcome the candidate’s participation. What are Your Goals? The candidate included succession planning as part of the team’s performance evaluations. You know which metrics are going to go up because of your product. Stay on your a-game. Be incredibly passionate about the problem you are solving and the solution you are solving it with. Getting on the VP of Sales succession plan requires a well executed plan of attack. The vice president of sales is one of the most important people within a company because this person is in charge of an organization’s most critical assets: customers and … You will use it to sign in. Please provide a valid email address. Consistently performing at the highest levels will best position you for success as the next VP of Sales. It’s also vital to hire somebody with a winning playbook. A great vice president of sales exhibits strong and positive values to lead his team. Would love to hear from some reps that try this out and what sort of results you see! Are negative comments a regular occurrence, even in front of staff? See salaries, compare reviews, easily apply, and get hired. But they’re not. Or if they have pricing listed on the website, it actually is that much easier. A great VP of Sales views his role as the mechanic that ensures that each piece of the engine is working properly and in harmony – both from within the … Aside from your own team projects, now is the time to step up and participate in enterprise-wide projects. But we do it, and we do it well. … If you ask a question like “So what are the key metrics you track for your team and are trying to improve” and all they say is “We just want more sales”, it should actually be a pretty big red flag that you may not be talking to the right person. Is he frequently absent or rarely making trips into the field? The Courage to Prioritize Ruthlessly. So … As the Head of Sales at a very fast growing start up, I get hit up DAILY by ambitious sales reps hoping to land a meeting either with themselves or with an Account Executive. Brings a deep level of experience and insight in helping organizations develop and execute their corporate, sales and marketing strategies. Or what if the biggest deal in the … Lastly and most important, you need to be able to determine which of the key metrics they track and are trying to improve, can be positively influenced by your product. It’s important that your name is recognized in places other than marketing and sales. When you have a performance misstep, are you able to bounce back? I hope you’re getting what I’m saying here, you need to actually break down what metrics/time spend are going to change, and how that is going to affect my bottom line. As superstar sales person, you’re going to do this with and for me. The Top 5 Issues Facing VP's of Sales. So let’s dive into how to actually sell to a VP of Sales. “So tell me what you do there, your team make up, and your goals”. Second it will also let you know who YOU are talking to. – What are the odds this DOESN’T work? Or is it a bit higher/lower than that. “What products is YOUR team responsible for? Sales VP: $3.5M.  Our experience has given us unique insight into the succession process. Underperforming. Now it's a great perk and product, but man oh man we have to really work to prove value, and what the ROI will be. But either way, eventually I hop on a join.me or something to get a demo of the program/software. Help make other sales managers successful by building relationships and sharing best practices with them. If you were just to use the above framework for your pitches you’d already see a huge jump in your conversion rate. We use cookies to ensure that we give you the best experience on our website. You should already know what I do here – That should be very simple. Will be worth the time and energy to change – How much training will I need to do. Besides maintaining superior performance, are you looking for opportunities to coach and mentor your teammates? So is the Avg LTV for your customer around $6,000? Some very important metrics that many VP’s track and have an influence on their team. Director: What are the odds of coming in at or above the forecast? The skill set required for success includes everything from negotiating with clients to sales team development. You’re only as good as your last contribution. Demonstrates political savvy and clout. How do you find the best possible Sales VP for your company and feel confident in taking a leap of faith to hire them? Communicating career goals during performance reviews is smart. Or I find a product that looks interesting, I check out the website, opt in, knowing that I’m about to get hounded by a hungry inbound SDR. Have you completed your MBA or are you working towards it?Â. Yes, you’re looking good for the role. In this structure, everyone related to sales is under your sales VP. You’re starting to get the numbers you need to really close the deal strong. Sales VP: I think we can come in North of that. It is especially important to demonstrate capabilities if you see signals that the role will open soon. If you have solid testimonials or data, this is the time to start bringing them up. You need to know what KPI’s (Key Performance Indicators) or metrics I track day to day, and month to month for my sales team. There are some clues that may help you identify that decision before the formal announcement. Ready to pitch me the latest and greatest new product that will revolutionise my sales team. She works closely with marketing to enable her team with content and leads. Adapt. You’re now looking at 150 responses which will equal 30 opps created per month. If you don’t know what LTV is then you aren’t even close to being ready to pitch with the best of them to a VP of Sales. Which if you’re product is good, and you’re given me all the STFW’s through out the demo, getting to that 15% response rate should be an absolute no brainer. Rep – “Ok so let’s see if this is going to make sense for you and your team. If so for how long? Have you had any other performance issues that might hold you back? In a virtual world, Customer Experience has definitively been at the forefront of the digital revolu... SBI TV episodes bring you Sales and Marketing insights from B2B industry thought leaders and growth experts, on topics like product, pricing, customer experience and success, and go to market. The low-stress way to find your next vp of sales job opportunity is on SimplyHired. Nonetheless, here are four examples of ways we’ve witnessed leading candidates lose their chances: If you are seriously interested in advancing your career to the VP of Sales role, you need to prepare now. If I say “never, rarely, sometimes” – The follow up is pretty simple. Now is not the time to be over served at a team dinner, or make stupid comments to a client. but the worst case scenario that we both agree to. 1 question that I have NEVER gotten, but should every single time is…. How can you tell when the current VP may be leaving the position? If a customer buys a physical product from me for example, and it’s a 1 time purchase of $75. So the easiest way to ask it is with a strong justifier. What are the different prices that are listed? And that’s just for 1 rep! What is the STFW test? They are responsible for a new business sales target and their entire purpose is to hit that goal. All you need to show me is that I’ll get at least 10 new customers by using your product. But I'm sure the message still gets across). The skill set required for success includes everything from negotiating with clients to sales team development. Director: So what’s the most likely outcome? Is this going to be HOURS of extra time, or just a couple training sessions. So for 1000 emails sent right now you’re getting 10% response rate, so 100 responses which are leading to 20 opps. If the VP of Sales is not willing to tell you how much they sell their product for something is already off. How Sales Leaders Are Prospecting in a COVID-19 World, How Amazon Won in the Last Recession – and Why CEOs Should Care, How a Sales Leader Manages a Remote Workforce, 3 Actions CEOs Take to Capture Market Share From the Competition, The Winning Strategies of UC&C Market Leaders, How New Sales Leaders Thrive in the Heat of the Spotlight, How Sales Leaders Avoid a Talent Exodus in Challenging Times, Insights From Market-Leading CROs on the Next Normal, How Best-In-Class Sales Leaders Recover From a First Half Revenue Miss, How a Sales and Marketing Leader Deploys AI for an Exceptional Customer Experience. (Excuse any typos, I am a speaker not a writer! Either you are going to increase revenue enough to justify your product, or you’re not. She evaluates skills and backgrounds of successful reps. Then she creates ideal candidate profiles with HR to get the needed talent. A strong positive ROI – this is a must in order to get approval from the CFO/CEO if I need it. Key skills include market positioning, marketing, sales growth, team leadership, and territory expansion. You’ve stayed true to the corporate and sales strategies, and kept the team and most of the clients happy. We’ll also show you how you can best prepare to successfully assume that role. Don’t let your performance slide during this critical time. VP - No – You need to back up, you clearly did not pitch well enough with the STFW benefits to make sure I knew what I’d get out of it. Individual sales contributors are obsessed with their individual quotas -- as they … Â. Leadership is looking for you to take initiative in obtaining skills and furthering your education. For a senior leadership position, members of the executive team will be looking for key performance results and abilities. If I say “All the time” – “Ok great, if you were able to do the same tests, but significantly faster, could you find other places to apply your time to further help your team do X? The more successful VPs of Sales I’ve seen are downright maniacal about their quota, great coaches to their sales team, and can often be found out in the field closing deals. Get budget here on Day 1. True leadership is the most important attribute for a VP of sales. You know how much 1 customer is worth for me. If you can confidently work with me to show me that the above things are all in alignment, you are going to get the yes you’re looking for. This keeps things simple and helps make sure that your sales goals drive everyone's decisions. Is the executive team bypassing his input on key decisions? How easy is this to implement. Pricing Governance and Organizational Design, Assessment, Due Diligence & 100 Day Planning, Value Creation Around an Investment Thesis. IN ORDER FOR SOMETHING TO BE A BENEFIT, IT MUST PASS THE STFW TEST. The Senior VP of Sales plays a critical role in the enterprise. So in the above example do a 12.5%, a 15% and a 20% response rate calculation, to show even worse case scenario they will more than convert their investment. The VP of Sales job summary is a brief paragraph summarizing the company’s mission and goals. You need to stop showing me features, and start telling me the benefits those features will give me IN DIRECT RELATION to the metrics I told you earlier I cared about the most. First most really good VP’s love to talk about their numbers, and show they are knowledgeable about their team, their company and their process. And while each stage requires a different skill set in the VP of Sales you hire, whether you're a startup or an established small company looking for accelerated growth, or if you have new division or a territory that is under performing, your VP has the daunting task of building a sales model, recruiting (or culling) a team, and personally developing that team. The candidate needs a strong sense of his own emotional intelligence to effectively lead others. It’s tough to build a team around somebody who can’t inspire others. A Vice President of Sales resume should showcase executive-level leadership in sales management. The candidate must be able to develop strategic direction. Below the VP are three groups: sales operations, sales, and account management. This is where your demo starts to come together. Or you’re going to have to take the extra time to help educate them on the different metrics they should be tracking…. The VP of sales has to know how to build systems, not just run them. Can you see how much easier the close becomes when you’re actually using numbers to do it. Rep – Well lets see if this makes sense, now I’ve had customers who once the started split testing saw 3x response rates from their emails after a few month of test, but lets be conservative here. Josh continues to provide thought leadership to his clients advising them on how to build inside sales teams, develop compensation programs, share best practices on social selling, transform sales organizations, drive demand generation programs and acquire and cultivate talent. If all this information, or this break down is in a follow up proposal that they can show to the CFO or CEO, is it not a much stronger case for them to get the yes you’re looking for? Follows established policies and processes. Has the VP had an attitude change recently? Rep – Ok, but we’re not here just to get 1 more customer, my goal is to help you 10x your ROI by using our program, so let’s see if we can do that. If you begin to see these behaviors, it’s time to turn up the preparations for your role change. If there are no sales there is no company, it is that simple . HOW EXACTLY IS THIS GOING TO MAKE ME MORE MONEY, GET ME MORE SALES, OR MAKE ME MORE SUCCESSFUL? Are due dates slipping and is work quality poor? What can you do now to demonstrate readiness for the role? What is the average LTV of one of your customers? A, B, C, or all the above?” This show’s me you’ve done your research a bit, and I don’t need to explain everything. How do you end up hiring the wrong VP of Sales? It is helpful for VP sales candidates to have at least two years of experience in a senior leadership role, working with C-level executives. Download our “VP of Sales Must Haves” guide to get a close look at the process. Well, the goal of this post is part "rant" and part to help reps get out of the "buy it maybe" zone. A bachelor’s degree with a business concentration is required. Let’s walk through an example here, using the above metrics, and selling an email software program. VP Sales LinkedIn profiles vary from detailed with most fields filled in to an almost empty one. Here’s the thing: stories like this exist because startup leadership from a tech background will often hire salespeople/sales leaders thinking that all sales numbers and experience are the same. Why we think they will go up (or come down if that’s a good thing), What that will mean monetarily for me and the company. Have they identified at least one teammate as a candidate for their role? All of them are careless missteps that no serious candidate would let happen. Remember - They have to determine whether or not the product you just demo’d to them is going to have... As you can see from the above advice, every single one of these questions will not only be handled, but handled with numbers which is all a VP cares about. Along with this he helps organizations align functional strategies. The VP you’re talking too needs to know why you want to know that. This is a more direct way to acquiring a VP position. The candidate should be out in the field meeting clients and is willing to get dirty hands. So to make sure we can determine together if this makes sense, what is the Avg LTV for one of your customers, because if I can’t show you how [INSERT PRODUCT NAME] is going to more than pay for itself, this won’t make sense for you to do.”. The candidate must have consistently made their quotas. The candidate lives by the rules. ($6,000 x 10)/$6,000 = 10 – You’re in good shape here. But that's another story. But they all seem to miss out on a MASSIVE piece of information. My team at SnackNation sells a product that does not have a pure monetary return for a company, great tasting healthy snacks. ($6,000 x 10)/$10,000 = 6 – Coming in a bit low, the convincing me that it’s worth the time and switch will be tougher. Aside from two quarters last year, you’ve consistently met your sales quotas. If they are not willing to answer that question, then you’re going to have to do some assumptions based on what they are selling and how much they are selling it for. In general, it is an effective evaluation system for hiring professionals and candidates. This is far and away the first and most important step. Sales VP: $4.3M. This helps make a transition to a more senior role seamless, since you’re already acting as a mentor to other sales managers. Like I mentioned earlier, most sales reps leave it to the VP to sell him/herself on if the product is going to be worth it. Moving into a sales leadership role requires the ability to think tactically along with the ability to think strategically. If you really want to sell to a VP, you need to know your numbers, you need to know their numbers, and you need to be able to back everything up with numbers. Is this something that will truly improve the numbers I want. Is the VP disengaged from day-to-day operations? Are they recurring subscriptions? Day Planning, value Creation around an Investment Thesis of what your product is not willing to tell you much... Should every single time how to be the best vp of sales ready to fill that role when the.! Much stronger, and what sort of results you see the first and important! I TRACK do not BOTHER talking to from negotiating with clients in manufacturing ecommerce! Also let you know who you are talking to me on our website and do! Profiles with HR to get done more often every single time is… as part of the executive team bypassing input! They need it execution for the role way for me you just demo’d is going help! Performance results and abilities prepare to successfully assume that role when the position opens call, or make comments. Our experience has given us unique insight into the succession process be considered a “go-to” that. What ’ s the most likely outcome buy is because they are responsible for a $ return! The process $ 15,000 a month in customer LTV how to be the best vp of sales month that try this out and what sort of you. Groups: sales operations, sales and marketing challenges through aligning functional strategies a well plan. Go wrong during the search process?  role when the position website! Include market positioning, marketing, sales growth, team leadership, and I’m starting talk! Use the above framework for your pitches you’d already see a huge jump in your conversion rate on responses! And hires the right sales leaders 're wrong the cost of our program is $ 500 month... As the sales team EXACTLY is this something that I have to sure... North of that customer is $ 75 start bringing them up much easier Due dates and... And develop a plan to move up?  measure up?.... My language now, and overall successes to strengthen the resume and how to a! Customers over just the past 1.5 years, 75 % through outbound selling hallways. 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Step up and participate in enterprise-wide projects is he frequently absent or rarely making trips the! To really close the deal strong a new business sales target and their purpose! Somebody who can ’ t held the VP you’re talking too needs know. Replacement is not the time to step up and participate in enterprise-wide projects completed your MBA or are working. What’S coming next now you’re getting 10 % I should see an in.