Early Data on the State of Outbound Prospecting [MAR 2020]


This post is by Matt Bertuzzi from Inside Sales Experts Blog


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I think I’m starting to understand why the phrase “may you live in interesting times” is considered a curse.  A global health crisis, an unscripted pivot to work from home, and an accompanying economic fallout--times are certainly interesting. If you’re like me, you're keenly interested in what this all means for outbound prospecting today and tomorrow. One of the best sources of real-time data is Chris Beall, CEO of conversations on demand company ConnectAndSell. He is (and has been for years) sharing data on dials, conversations, and meetings. Earlier this week, he shared their “top couple hundred customers' results since mid-Feb 2020.” I’ve taken the liberty of charting out the data.

Conversation to Booked Meeting Rate

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I note an 11% decline for the week of March 9th followed by an additional 4% decline for the week of March 16th. That’s only a 14% decline in meetings
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Managing an SDR Team Remotely During COVID-19


This post is by Matt Bertuzzi from Inside Sales Experts Blog


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Over the past 4 days, I’ve seen a lot of amazing work from home content from the broader Sales community. I particularly want to call out GitLabs Guide to All-Remote, this post from Laura Guerra (ringDNA Sales Director), and Matt Heinz’s how to work from home (when your kids are there too). We wanted to share a few thoughts targeted to the SDR leadership community. Note: this isn’t an all or nothing platform - you take pieces and leave others as you see fit. 

Steps you can take over the next 20 days for SDR teams working remotely
 

Step 0- close your office.flatten
If you have not, please do it now. Social distancing is highly effective at flattening the curve. If you have 25+ people in a room and/or a large number of your reps take public transit to work, closing your office will have a huge

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Data on the SDR to Enterprise AE Career Path


This post is by Matt Bertuzzi from Inside Sales Experts Blog


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I like to spend time on the r/Sales sub over on Reddit. It gives an unfiltered and anonymous perspective on what future, current, and past SDRs are asking and advising. Questions around compensation and timing of the Entry-level SDR to Enterprise AE path are common. So I  reviewed 236 LinkedIn profiles of current Enterprise Account Executives that also contained a stint in Sales Development.

What does the path look like?

There are as many paths to an Enterprise AE role as they are routes into Sales itself. Let’s be honest, very few kindergartners express a desire to carry an enterprise bag someday. I noted many profiles dipped in and out of the straight line career path. This includes stints as:
  • SDR Team Leads
  • Channel Sales Reps
  • VP/Director of Sales
That being said, the most common career path looks more or less like this:

SaaS Account Executive Compensation in 2020


This post is by Matt Bertuzzi from Inside Sales Experts Blog


Click here to view on the original site: Original Post




We’ve just released the 2020 SaaS AE Metrics Report. This marks the 7th round of this research project. Leaders from 287 SaaS companies shared their key metrics--growth rate, ACV, model, quota, comp, tech stack, and more. You can get a full copy of the report here, but I wanted to share one finding that really stuck out.

AE comp soars to new highs

Last year, I wrote about SaaS AE compensation continuing to outpace the broader US economy. saasae_v_usall
 
That’s a 52% increase since 2010 (~5% compounded annually). Compare that to SDR compensation, which has been flat since 2010 when adjusting for inflation.  In this report, we find median SaaS AE on-target earnings of $158K. More than 70% of respondents report OTEs in excess of $120K. Wow.

Quotas are rising, but not at quickly 

Median ACV quota rose from $625K in 2012 to $775K in 2020. This represents
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Continue reading "SaaS Account Executive Compensation in 2020"

SaaS AE Compensation Heading into 2020


This post is by Matt Bertuzzi from Inside Sales Experts Blog


Click here to view on the original site: Original Post




Turn on economic news these days and it’s nearly impossible to miss stories about the tight labor market and (depending on how you measure it) moderate wage growth.  The chart below compares the Unemployment Rate  and Average Hourly Earnings indexed to June 2009--the official end of the last recession. UI_AHE Net-net, the unemployment rate has fallen by ~60% while earnings have increased ~30%.  We’ve been diligently working our way through our latest round of AE research and I wanted to share a preview of what I'm seeing. If the AE role were following the larger economy, we would expect to be seeing 2.5% compound annual growth in On-Target Earnings. In other words, a $100K OTE in 2009 should be roughly $124K today. In reality what we're seeing is much, much bigger. 

Account Executive compensation has seen dramatic and consistent increases over the last decade.

Take a look
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Continue reading "SaaS AE Compensation Heading into 2020"

SaaS AE Compensation Heading into 2020


This post is by Matt Bertuzzi from Inside Sales Experts Blog


Click here to view on the original site: Original Post




Turn on economic news these days and it’s nearly impossible to miss stories about the tight labor market and (depending on how you measure it) moderate wage growth.  The chart below compares the Unemployment Rate  and Average Hourly Earnings indexed to June 2009--the official end of the last recession. UI_AHE Net-net, the unemployment rate has fallen by ~60% while earnings have increased ~30%.  We’ve been diligently working our way through our latest round of AE research and I wanted to share a preview of what I'm seeing. If the AE role were following the larger economy, we would expect to be seeing 2.5% compound annual growth in On-Target Earnings. In other words, a $100K OTE in 2009 should be roughly $124K today. In reality what we're seeing is much, much bigger. 

Account Executive compensation has seen dramatic and consistent increases over the last decade.

Take a look
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Continue reading "SaaS AE Compensation Heading into 2020"

Insight on the Sales Tech Stack (of the Present and Future)


This post is by Matt Bertuzzi from Inside Sales Experts Blog


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gartner_salesGartner's 2019 Current and Emerging Technologies in Sales is making the rounds on LinkedIn. I’ll be honest, I spent quite some time trying to grok what it was saying. I’m more of a numbers person than a visual learner, so I made a bit of a remix. I thought I’d share it here to get the community’s feedback. First, I spreadsheet'd their data out by adoption, current ROI, and future importance. I used distance to center to measure Deployment Level  (1-9 scale) and followed their size and color key for Current ROI and Future Importance (1-3 scale).
  

The Tech Stack Adoption Lifecycle

Next, I overlaid Gartner’s Deployment Level with the familiar Technology Adoption Lifecycle (aka Chasm chart). Where the farther right, the more highly adopted a technology is. Two things jumped at out at me right away.
  1. Account-Based Marketing more highly adopted than CRM? Customer Success
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Participate in 2019 AE Research


This post is by Matt Bertuzzi from Inside Sales Experts Blog


Click here to view on the original site: Original Post




 border=Today, we launch our Account Executive research focused on B2B closing teams. This is our seventh round of research since 2007. This year we asked a group of VCs, CROs, and Sales VPs to weigh in on the key questions for building and leading a team today. They came back with questions like:
  • Pipeline source: What's the mix between inbound, outbound SDR, and self-sourced pipeline? How do high-growth companies differ from the pack?
  • Compensation: What's the going rate for OTE (by experience, location, and quota)? Outside the mega-hubs, where are companies building teams?
  • Quotas: What are average quotas (by company stage, by ACV, etc.)? What % attain the number?
  • Technology: What makes up the sales stack? Which tools actually move the needle on performance?
     
This year’s survey is more streamlined than prior and will take roughly 5 minutes to complete. If you lead an AE group, please participate
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Announcing 2019 CRO Compensation Report


This post is by Matt Bertuzzi from Inside Sales Experts Blog


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Here at The Bridge Group, we’ve been doing rep and manager comp research since 2007. (You can get the latest SDR report here and AE report here.) Although we’ve been asked about CRO/SVP of Sales compensation a lot, it’s one area we’ve never delved into. Until now. Before we launched the project, we reached out to a half dozen senior sales leaders in our network to ask them what they’d like to learn from anonymous peer research. Their responses centered around:
  • Responsibilities (by size of company)
  • OTE & equity package
  • The relationship between revenue contribution and earnings

In short, what’s within the CRO span of control, what quota are they signed up for,
and how much are they paid to deliver it.

So that’s what we set out to do.

A big learning along the way is that a “CRO” isn’t a CRO isn’t a CRO. Lots of definitions
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Quota Attainment, Morale, and Sales Culture


This post is by Matt Bertuzzi from Inside Sales Experts Blog


Click here to view on the original site: Original Post




We’ve just entered a very special time of year. Namely the three weeks (from Nov 1st to Thanksgiving) where it's acceptable to talk quotas for the upcoming year.  Broach the topic any earlier, and it’s like touring colleges with a newborn. Any later, and it's a distraction from finishing the year strong. But right now, is just right. Chorus.ai CEO Roy Raanani posted a whiteboard video on the topic recently. He compared two groups with equal average quota attainment and equal group performance. I've dubbed them:
  • Team Summit with a single peak distributed around 80% of quota
  • Team Camel with two humps at 60% and 100%
 royquota Roy argues Team Summit is preferable. For one, "whenever there is variability [like in Team Camel] it usually means we don't fully understand the process." He continues that reps in the left hump are likely stressed out—as they see how
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Continue reading "Quota Attainment, Morale, and Sales Culture"