Are you looking to grow your business, but so far what you’ve tried hasn’t worked? How does this sound…you can hire a sales expert with proven results temporarily to help your team lay a foundation for successful – and sustainable – revenue growth. That is what a Fractional Sales VP can do for you.
A Fractional VP is an outsourced C-level executive that works for you part time. Typically, they work with small to medium sized businesses working towards sales growth that don’t have the need or budget for a full-time sales leader.
Sales VPs are expert managers of people, sales strategies, and sales processes.
Your particular situation will dictate how long a Sales VP will need to work with you. Often, an engagement lasts 9-12 months, giving them the time they need to assess your situation, develop or revise a sales plan, build and coach your team, and reach the point where your sales team is running smoothly and efficiently.
Benefits of a Fractional Sales VP
Outsourcing a Sales VP allows you, as the CEO or President, to lead the organization and focus on other priorities. They don’t just tell you what to do; these sales leaders are hands-on and actively involved with developing, implementing, and refining your sales plan to help you reach your goals.
Sales VPs have years of experience with proven results. They excel at identifying issues and applying solutions, building a strong sales team, and creating sales growth, while also preparing the company for increased sales.
They aren’t a band-aid for struggling sales, but rather they are focused on long-term success. A Sales VP brings many benefits, including:
- Designing sales methodology and developing a sales plan.
- Hiring and on-boarding sales team members.
- Mentoring and coaching the sales team.
- Ensuring collaboration between teams.
- Implementing appropriate sales tools (e.g. a CRM system).
- Cultivating a culture of accountability, often by using the EOS framework.
- Regularly monitoring and reporting progress.
Expected Costs of a Sales Leader
Because they work part-time on a short-term contract, hiring an outsourced Sales VP saves you money. The investment cost of a Fractional VP is influenced by a number of variables, but it is significantly less than hiring your own full-time VP.
The cost of hiring a Fractional Sales Manager depends on the project and the size of the business, but most engagements are between $6,000 and $10,000 per month. Compared to the average annual full salary and benefits package of a full time Sales VP (about $200,000), this is extremely cost efficient.
And the resulting sustainable revenue growth pays multiples on your ROI.
When to Go the Fractional Route
You can hire a Fractional VP for most C-level positions, such as a Fractional VP of Marketing, VP of Operations, Chief Financial Officer, Chief Technology Officer, or a VP of Human Resources. But how do you know if a Fractional Sales VP is right for you?
- Declining or flat sales. You’ve tried to reverse the trend but haven’t been successful.
- Experiencing rapid growth. Rapid growth means your business is doing well, but it can be a lot to handle. You want to make sure your short-term profits turn into long-time growth.
- Changing direction. When you want to take the company in a new direction or add new products or services, it often means you need to revise your sales plan and strategies.