How to Navigate Sales Cycles w/ Ang McManamon (VP of Sales, Crunchbase)
May 9, 2024
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VP of Sales at Crunchbase, Ang McManamon, discusses navigating tricky sales cycles and managing expectations, culture, product pivots, and value prop with customers. Insights on revenue growth, team expansion, setting realistic targets, diagnosing sales issues, boosting team performance, and risks of overselling in SaaS deals are also covered.
Sales leaders must manage expectations, culture, product pivots, and value propositions during market fluctuations.
Team cohesion, transparency, and data-driven insights are vital for optimizing sales efficiency and driving long-term growth.
Deep dives
Navigating Sales Leadership in Volatile Markets
In this episode, Ang McManaman, VP of sales at Crunchbase, discusses the challenges sales leaders face during market fluctuations. She reflects on transitioning from a high-growth market to a downturn, emphasizing the importance of managing team expectations and culture. Additionally, Ang shares insights on hiring strategies, highlighting the balance between rapid recruitment and ensuring quality hires to maintain team efficiency and performance.
Team Bonding and Performance Motivation
Ang emphasizes team cohesion and morale-building through group incentives like spiffs and team-based commissions. She stresses the importance of transparent communication and unity among sales and customer success teams, fostering a collaborative environment for enhanced productivity. By incentivizing teamwork and aligning goals across departments, Ang focuses on optimizing team efficiency and performance in current market conditions.
Strategic Approaches to Sales Efficiency
Ang delves into strategies for enhancing sales efficiency by analyzing key performance metrics such as call-to-demo conversions and win rates. She advocates for a shift towards quality-driven interactions over quantity, emphasizing the significance of personalized customer engagements and strategic sales conversations. By prioritizing data-driven insights and continuous improvement, Ang aims to streamline sales processes and drive long-term business growth.
Avoiding Pitfalls in ACV Growth Strategies
Addressing the common pitfall of inflating Annual Contract Value (ACV) upfront, Ang advocates for a more sustainable approach to revenue expansion. She highlights the risk of overselling in the initial contract leading to revenue contraction during renewals, especially in challenging market conditions. Ang suggests focusing on gradual ACV growth through customer success and expansion post-initial sales, aligning sales incentives with long-term customer value and retention.
We've gone from arguably the biggest bull market in the history of tech in 2020-2021 to arguably tech's biggest down cycles in 2022-2023.
It's not the first time, and it won't be the last.
What does that mean for a sales leader? What does that mean for the pressures you're getting from your CEO, from the leadership team, from the board? How do you manage expectations, culture, product pivots, and value prop with your customer?
Take a breath. Exhale. Ang McManamon (Vp of Sales, Crunchbase) gets candid about navigating tricky sales cycles — so you'll be best equipped for the inevitable next one.