Sales Community - Stack Ranking Tool

Stack Ranking Tool

As a leader, it is a necessity to have some type of stack ranking tool to help manage your team up or out.?

As an individual, knowing that your managers have some type of stack ranking tool, you should be asking where you are ranked and have agreement on what you need to do to improve. This is the case if you are an SDR or all the way up to a direct report of the CEO.

_____________________________

Tech Sales Insights LIVE

Join me and Nour next Wednesday, February 23rd with our guest Seth Robbins, CRO of HYPR. Join us at 12PM EST, link below!

'Conquering Zero to $10m+ ARR' with Seth Robbins, CRO of HYPR

This episode is sponsored by CaptivateIQ , the Commission Software Sponsor of the Sales Community

? Created by a team with decades of commissions experience, CaptivateIQ is pioneering the new standard in commission management and enabling companies to reclaim the power of incentives with a platform built for revenue teams.

Upcoming '22 schedule for Tech Sales Insights LIVE:

• 3/2/22 David Reilly: Previously CIO of Global Banking Markets, Bank of America
• 3/9/22 Allen Mueller: CEO, Emissary
• 3/16 Mark Kosoglow: VP of Sales, Outreach

Check out our previous episodes here: Tech Sales Insights LIVE

_____________________________

From Our Sponsors:

The Alexander Group

Unlock your company’s full potential and get answers for your specific objectives that reflect your stage of growth, industry and target markets with the Alexander Group’s Revenue Growth Model blueprint.?

This blueprint uses quantitative analysis, our proprietary benchmarks, the latest insights from your industry, proven client results and the right level of engagement with your team to reveal what’s possible.?

Learn how to become a revenue organization that consistently exceeds the market growth rate:

Alexander Group: Revenue Growth Model Blueprint | Alexander Group

CaptivateIQ

CaptivateIQ is setting the new standard in commission management. We're thrilled to congratulate them on their $100 million Series C led by ICONIQ Growth, and including investments by other top-investors such as Accel, Sequoia and Sapphire

In less than 10 months, CaptivateIQ went from Series B to officially becoming a #unicorn at a $1.25B valuation! Today CaptivateIQ is the only company in the commission software space to raise a funding round of this magnitude.

We’re honored to have a remarkable partner like CaptivateIQ who believes incentive compensation management provides businesses with a strategic advantage by fostering transparency, job satisfaction, and productivity. And we’re thrilled about this next stage in their journey!

Emissary

2022 tech budget growth is expected to be the largest in a decade, bringing the potential for record-shattering sales. To help sellers take advantage, Emissary surveyed over 1,000 executive-level tech buyers ー learning how they plan to spend those growing budgets and what their buying processes will look like.

Join Randy Seidl, Sales Community founder and Seleste Lunsford, Chief Research & Strategy Officer at Emissary on March 10th at 1:00EST as they pull back the curtain and shed light on what happens behind the scenes of an enterprise tech sale:

-Which industries and initiatives do buyers say drive the most spend

-Where tech execs are struggling with their charters

-Who buyers prefer to include in buy cycles - Is procurement inevitable?

-What executive buyers want from their sellers - and what they hate

-The critical few “do-differents” for selling tech this year

Register here

_____________________________

Randy's Tips to Sell More ?? Excerpts from Your Go-To Sales Advisor

Use the Stack Ranking Tool to Objectively Rank Your Team and Allow Others to Give Feedback

Here’s an example:

The more objective you can make the stack-ranking process, the easier it will be for you. Because people are our most important aspect, I would always have my direct reports prepared and discuss the stack ranking of their teams in any quarterly business review and in team meetings. Too often managers are lazy and do stack rankings based only on sales numbers; this is bad for a number of reasons. There are many ways to do the stack ranking, but here are some areas that you should consider.?

• I hate seeing someone ranked number one because of a huge bluebird deal (did little to no work to earn the deal) and they have mediocre sales behavior.?
• Have each person ranked top to bottom based on both present performance and potential. Be sure to consider their territory in this decision. If they have a fantastic territory but are just selling at goal, they may not be as good as someone who has a bad territory but is actually making a goal.
• Show their ratings for each of the past two years plus proposed ratings for the current year.
• List one or two key development areas.
• Indicate whether they are successor ready (yes or no).
• Determine who is at risk (who may be leaving for whatever reason).
• You should be building your bench of talent in your team in case you need to backfill. It’s always a best practice to have a bench per person per position.
• Some of the skill areas to assess can include sales results, sales behaviors/skills, territories, leadership, and potential

VIP: A stack-ranking process is a must-have for any sales leaders to know objectively the status and quality of their team.

_____________________________

Join the Sales Community - Home of the CRO - Private Network with now over 650+ members for $49.99/month. The largest community for Chief Revenue Officers and Sales Professionals in Technology.

?? Sign-Up using this link: Sales Community Membership