Tibor Shantos Shares His Blended Pipeline Approach to Sales Planning, Ep #294
Tibor Shanto points out that creating a great territory sales plan includes building a blended pipeline. It needs to consist of current customers and revenue as well as up-and-comers in the industry. You must maintain the old and be open to the new. Learn more about how he approaches building his territory sales plan in this episode of Sales Reinvented.
Outline of This Episode- [0:54] Why territory sales planning is underrated
- [1:37] How territory sales planning can reduce reactivity\xa0
- [3:30] Tibor\u2019s ideal territory sales plan
- [6:34] The attributes that make a salesperson successful
- [9:36] Tools, tactics, or strategies to improve sales planning\xa0
- [11:34] Top 3 territory sales planning dos and don\u2019ts
- [17:26] Why you have to build a blended pipeline
Tibor Shantolikes to create a simple graph to help him plan his territory. One axis is the likelihood of a deal closing within the next two cycles. The other axis is the total value of the deal. It helps you look at your best opportunities based on reviewing deals you\u2019ve won and deals you\u2019ve lost. The goal is to spend your time where you\u2019re most likely to close a deal.\xa0
Then you drill down further. What factors allowed you to close those deals? You have to understand what it will take to hit your quota and what the addressable opportunities are in your area. Most salespeople want to continuously expand their territory. Why? Because they don\u2019t know how to drill down further into their own territory.\xa0
Secondly, Tibor points out that you must start spending time\xa0disqualifying\xa0prospects. The right opportunities will help you hit your quota and you need to doggedly\xa0ignore\xa0anything else. It\u2019s hard to accept but he notes that only 56% of B2B sales reps make quota. He emphasizes that you shouldn\u2019t worry about what you\u2019ve missed\u2014worry about what you lost that you were supposed to get. If you can identify the opportunities that make the most sense to you\xa0based on data\xa0then ignore what doesn\u2019t fit the template. You have to play to your skills and strengths.
Tibor introduces his clients to the concept of the 360 Degree Deal View. It helps them look at\xa0why\xa0they win or lose deals. When people do deal reviews, it tends to be a lovefest. But you want to go back six months later and ask how you\u2019ve been able to change a customer\u2019s workflow. If you understand how you do this, you can see who's best going to fit your template. Again, you have to ignore what doesn\u2019t fit. You have to be objective and avoid deviating from your plan.
The attributes that make a salesperson successfulIt all comes down to attitude. When people ask Tibor why he was successful, he points out that it\u2019s simple\u2014he wanted it more than the next guy. That\u2019s something you can\u2019t teach. Any competitive athlete completely understands the power of mindset, determination, and self-discipline. The general public doesn't necessarily have these characteristics.
A software company in the late 90s recruited college football players who weren\u2019t drafted. Why? They had drive, the ability to follow a playbook, discipline, and the ability to be coached. That software company got acquired. It worked for them because their exit strategy materialized. Tibor doesn\u2019t believe that salespeople with soft shells will survive. There aren\u2019t participation trophies in life.\xa0
Tools, tactics, or strategies to improve sales planning\xa0You must understand what you\u2019re looking for. What\u2019s worked for you in the past with your accounts and territory? A blended pipeline is key. If you focus on different accounts, you can get much more volume done\u2014and as a result\u2014earn higher commissions. So start by plotting out a clear plan on a grid and be disciplined while remembering to adapt as needed. You can\u2019t just double down on territory planning and stop prospecting. If you don\u2019t prospect, you don\u2019t have a territory.\xa0
Tibor also advises salespeople to look for lookalikes similar to your prospects. Why is a lookalike the same? How are they different? Where are the greatest number of interceptions? Go after those. You know the jargon, you know the story, so show up and present how you\u2019ve just succeeded for the last client. Most people tell him they appreciate that he works with a competitor because they don\u2019t have to educate him on the basics of the business\u2014he can hit the ground running.\xa0
Why you have to build a blended pipelineTibor looks at the top dozen accounts in his territory. He\u2019ll look at where he\u2019s at with them this year and make projections for the next year. What is the gap in his quota and projections? Doing this allows him to understand how he needs to service his top customers. Secondly, it allows him to look at the up-and-coming in his territory.\xa0
Tibor set his sights on someone making noise in the business. Many other people ignored them because they were second-tier. This one small company grew and became a dominant player in the industry. That\u2019s why you have to build a blended pipeline. Even if a prospect isn\u2019t the most sought after, it still has value. Don\u2019t ignore less attractive prospects that might save your hide as long as they fit your plan. Tibor points out that you should always leave room for flux and luck.\xa0
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