Episode 30 - Amy Franko on Building an Effective Sales Strategy

Industrial Growth Institute

Episode 30 - Amy Franko on Turning Sales Strategy Into Profit, Women in Sales, Board Governance over Sales and more

Summary

In this conversation, Ed Marsh interviews Amy Franko, a sales strategist and author, about sales strategy and the role of sales in organizations.

They discuss topics such as leadership, accountability, sales training, and the importance of sales in corporate strategy. Amy emphasizes the need for sales talent on boards and the importance of continuous recruiting.

She also shares insights on:

• challenges and opportunities in selling technology and industrial products
• sales strategy and its impact on business growth
• the importance of board governance
• need for a board skills matrix and continuous recruiting to ensure the board has the right talent.

Amy also shares her approach to building a strong board, including setting a vision, investing time and resources strategically, and introducing more strategic talent. She highlights the value of including junior people on the board as a talent incubator and implementing a board buddy system for onboarding new members.

Amy also touches on her support for women in business and sales, the importance of sales and marketing integration, and the role of sales ops and sales enablement in optimizing sales teams.

Takeaways

• Sales strategy is a critical component of corporate strategy and involves defining growth markets, target industries, and ideal clients.
• Boards should have members with contemporary sales insights to ask probing questions and provide oversight on sales strategy and execution.
• Continuous recruiting is important to find and nurture top sales talent, and companies should have efficient recruiting processes in place.
• Selling technology and industrial products have their own unique challenges, such as talent acquisition, complex sales, and balancing transactional and custom sales.
• Sales talent is crucial for long-term success, and companies should invest in talent development and create structures to support sales professionals.
• Understanding the lifetime value of a customer is essential for effective sales strategy and decision-making.
• Sales leaders should be involved in board-level discussions to provide insights on market opportunities, risks, and the impact of sales on business growth. Implement a board skills matrix and continuous recruiting to ensure the board has the right talent
• Set a vision for the board and invest time and resources strategically
• Include junior people on the board as a talent incubator
• Implement a board buddy system for onboarding new members
• Support women in business and sales
• Integrate sales and marketing strategies
• Consider the role of sales ops and sales enablement in optimizing sales teams

Takeaway Quote from Amy Franko

• "Sales strategy contains the categories for growth, target industries, and clients."

Check out Amy's website

LinkedIn: Amy Franko and Ed Marsh

Twitter: Amy Franko and Ed Marsh

Instagram: Amy Franko and Ed Marsh

YouTube: @AmyFranko and @EdMarsh

Show Transcript

Chapters

00:00 Introduction and Background
03:21 The Role of Sales Strategy in Corporate Growth
05:50 The Importance of Sales Talent on Boards
19:42 Continuous Recruiting for Top Sales Talent
23:06 Challenges and Opportunities in Selling Technology
31:23 Navigating Complex Sales in Industrial Markets
39:43 Discovering the Board Governance Function
42:59 Building a Strong Board
48:27 Supporting Women in Business and Sales
51:25 Balancing Work and Wellness
55:30 Integrating Sales and Marketing Strategies
59:07 The Role of Sales Ops
01:04:47 Exploring the BDR Model
01:08:13 Understanding Financials in Sales
01:10:18 The Future of Sales Optimization Wondering how board governance, sales strategy, sales training and other pieces all fit together in an integrated and engineered system for revenue growth? Check out this free downloadable diagnostic to identify opportunities using the Overall Revenue Effectiveness™ Framework. #SalesStrategy #StrategicSales #StrategicSelling #SalesTraining #SalesManagement #SalesCoaching #SalesGrowth #WomenInSales #SalesOnBoards #independentdirectors #boardstrategy #boardofdirectors #boarddiversity #GirlScouts #Governance #BoardGovernance #boardoversight