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Every [sales] system is perfectly designed to get the results it gets
Hi Friends,
Welcome to Win Rate Wednesday!
In this issue:
[This Week on The Win Rate Podcast]
Joining me on this week’s episode of The Win Rate Podcast to dig into how you can improve your sales effectiveness, elevate the buyer experience and improve your win rates are:
St John Craner, Managing Director of Agrarian Rural Marketing
Philip Lacor, CRO at Personio
Listen to the full episode: Trust, Trade Offs, and Your Win Rate
[Today’s Win Rate Lesson]
There are a lot of ways to sell and scale.
Epic Systems is the privately-held software company with $4.9 billion annual revenues that dominates the electronic medical records market.
Guess how many salespeople they have?
Epic was founded by Judy Faulkner in her basement in 1979. She’s still the CEO of Epic at age 81.
She didn’t take money from VCs.
Epic now has 14,000 employees.
According to the health IT research firm KLAS, Epic’s software is used for patients in more than half of the 890,000 hospital beds in the U.S.
If you sign into a MyChart account with your healthcare provider to access your medical records you’re using Epic.
According to a recent profile of Epic in Forbes, Epic was the only electronic health records company in the U.S. “to achieve a net increase in market share,” adding 153 hospitals (many part of larger systems) and 28,788 hospital beds (again based on data from KLAS.)
So, what was your guess? How many sellers does Epic have?
In the Forbes article Faulkner says Epic has achieved this incredible growth with only eight sales people.
Eight. Yes, just 8 sellers out of 14,000 employees.
Faulkner said “We do reactive sales. We don't do proactive sales. Our salespeople have no commissions, they have no quotas, they don't make cold calls.”
No quota.
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No commissions.
No outbound.
Selling sophisticated software products to the enterprise.
My point is not that every software company can sell like Epic. Or that every company should.
My point is that too few have the courage to try.
Or the willingness to break out of the rut they’re in and try something different from what they’re currently doing.
With average SaaS win rates in the 18%-20% range across all ACV segments, what do you have to lose?
As W. Edward Deming so astutely pointed out “Every system is perfectly designed to get the results it gets.”
Low win rates in the 18%-20% range?
Fewer than 40% of your reps hitting quota?
Those are exactly the results your system is designed to achieve.
Try doing something different. For a change.
[Three Ways I Can Help]
Master the 4 core human competencies that dictate your success in sales: Connection, Curiosity, Understanding and Generosity and become the seller you want to be.
Unless you’re winning more than 50% of your qualified opportunities your win rate is unacceptably low. Let's change that.
Most salespeople have all the training they need. Often what they need to achieve at higher levels is a fresh perspective, and a new framework, to effectively put their skills to use for their buyers. I’ve helped sellers and teams around the world do this. Let me help you.
Good selling,
Andy
Strategic Account Executive @Workiva
1 个月Although Epic doesn’t have Sales people they have a ton of project managers. The project managers work on both pre & post sales which is pretty helpful during a super complex EMR assessment and implementation.