Sales Hack #17: The SKO Hack

joinmeHow often have you attended a Sales Kick-Off (SKO) and found that altough it’ was “fun” for everyone to hang out, but didn’t really produce the results that you are looking for – increased sales.  When talking about this topic just this morning, one of the Sales Reps said, “why not do a sales kick-off next year?”  My response: not everyone in the sales organization deserves a PAID VACATION for 3-4 days, and the cost of taking them out of the office is too big!

The typical cost of an annual Sales Kick-Off for 50 sellers, for 3 days:

  • Hotel – $30,000
  • Airfare – $20,000
  • Meals – $15,000
  • Speaker – $25,000+
  • Misc – $50,000+
  • LOST REVENUE due to 3-5 days out of office: $250k – $500k!
  • Total Cost of an SKO: $400k – $600k

Sales Hack #17: The SKO Hack

Earlier this week, we held a 1.5 hour Sales Kick-Off to start the new year.  It stared at 430pm MST, ended at 6pm MST.  In it, we reviewed the 2014 quota attainment, recognized some employees for their successes, and kicked off the new year – calling it “The Rise of the Machines!”

The benefits of a Virtual SKO:

  1. No lost sales productivity – By starting at 430pm MST, we lost no selling time!
  2. Saved money on T&E – Why invest $150k in travel, when you could throw a bit more money at paying your top performers a bonus.
  3. Pay your top performers a BONUS with some of the savings!   We recognized multiple sellers with cash – $2500 for the top CSM, $2500 for the Rep with the most paid trials, and more…

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