Fractional Sales Leadership
Every client engagement is different, so the duties of an outsourced VP of Sales can vary somewhat from one client to the next but often includes the following:
Developing a sales strategy that supports overall revenue growth goals
Creating or revising sales compensation plans to optimize motivation and performance that deliver results
Establishing essential sales goals, relevant metrics, and qualified sales forecasts
Reporting on and analyzing sales performance
Selecting, customizing, and fully leveraging a Customer Relationship Management (CRM) system
Assisting with or managing sales recruiting, hiring, training, and onboarding
Documenting and implementing a defined sales process
Holding the sales team accountable via weekly team meetings, coaching, training, and corrective-action plans
Assisting management with initial – and often, continuing – oversight of implemented sales management programs
What Does an Outsourced VP of Sales Do?
Benefits of Hiring a Fractional VP of Sales
A fractional VP, or fractional Vice President, is a part-time executive who provides leadership and expertise to a company on a contract basis. Here are some benefits of having a fractional VP:
Hiring a full-time executive can be expensive, especially for a small or mid-sized company. A fractional VP provides the same level of expertise and leadership, but at a fraction of the cost of a full-time employee
A fractional VP can be hired on a short-term or long-term basis, depending on the needs of the company. This allows the company to adjust its leadership and expertise based on changing business conditions.
Access to Expertise
A fractional VP brings a wealth of experience and expertise to the company. They have worked in a variety of industries and can bring best practices and innovative ideas to the table.
A fractional VP is not tied to the company's culture or politics and can provide an objective perspective on business decisions. This can be particularly useful for companies going through a growth phase or experiencing significant changes.
A fractional VP can quickly assess the company's situation and provide actionable recommendations to improve performance. This can lead to quick results and a faster return on investment.
Hiring a full-time executive can be risky, as it can be difficult to assess whether they are a good fit for the company until they have been on the job for some time. A fractional VP provides a lower-risk option, as the company can terminate the contract if the executive is not meeting expectations.
In conclusion, a fractional VP can provide significant benefits to a company, including cost-effectiveness, flexibility, access to expertise, objective perspective, quick results, and reduced risk. If your company needs leadership and expertise but cannot afford a full-time executive, a fractional VP may be an excellent solution.
Why Might You Consider Hiring an Outsourced VP of Sales?
Companies hire an outsourced VP of Sales to help improve sales and drive revenue growth. Other key reasons to hire an outsourced VP of Sales include:
Acquiring deep sales leadership experience for a fraction of the cost of a full-time sales leader
Gaining an essential outsider’s perspective to create or improve and document sales strategies, plans, processes, and operations
To temporarily fill a sales management or sales leadership role
To audit current sales strategies and methods
To assess sales personnel and help management make key decisions regarding internal resources
To integrate, adapt, and implement industry best practices