Mon, 19 February 2018
Joining us for today’s show is Jennifer Bakunas, the Senior Vice President of Americas Sales for Monotype. Jennifer has a wealth of experience, from spinning up successful start-ups to running enterprise sales teams. She took over the sales leadership role at Monotype last year, and we join her at the end of one year to discuss her successful transformation of the 100-plus person sales force.
Today we are going to demonstrate how a head of sales transforms a selling team to hit their growth objectives.
Why is this topic so important? The honeymoon for a head of sales ends quickly. Successful SVP’s of Sales have one key thing in common. They get off to fast start with a successful transformation that starts bearing fruit in year one.
In the first segment of the podcast, Jennifer seeks to answer the questions: As a new head of sales, how do you approach assessing your sales leadership talent? More specifically: How do you assess talent at the individual rep level?
"How I approach talent assessment when I come to a new business, is to assess who you have, and then where the gaps are, and who you need to add. I think the best way to do that is to just dig in, sit down, and meet one-by-one with every single individual on the sales team. You get to know them. You get to know their background. You get feedback on what they feel like the performance conditions are. What's working. What's not. And then you compare that to the results, and do a stack ranking of the team, because they've all likely existed at that point under the same performance conditions."
Jennifer goes on to provide an overview of her account segmentation scheme, go-to-market strategy, sales process, buyer personas, and assessment of the performance conditions of the sales force. We talk through the transformation initiatives Jennifer put into place to lay the foundation for success and how she made sure the new initiatives were adopted.
Jennifer outlines in the second segment how to successfully communicate with the sales team, as the new head of sales, to keep them informed and focused on the right things.
We discuss how to approach segmenting your accounts to focus on the accounts that can produce the highest revenue yield in the shortest amount of time. Next we cover the topic of ales organization design, including type of reps you need, the best organizational chart, and the number of heads.
The final segment of the show describes how elite sales leaders insert themselves into pricing strategy. Jennifer describes how to approach assessing your pricing strategy and common trouble spots to look for. She specifically outlines a proven roll out strategy for your newest pricing initiative.