Date post: | 16-Apr-2017 |
Category: |
Technology |
Upload: | sputnik-3-customer-centric-systems |
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The problem is not Information Overload
The problem is a Deficit in Insight
Sales Performance Management
Sales Managers Are Under Massive Time Pressure
Travel
Sales Forecast
Read Reports
Plan Territories
Manage Pipeline
CRM Compliance
Close Deals
Report to HQ
Sales Coaching
Sales Managers Are Under Massive Time Pressure
Travel
Sales Forecast
Read Reports
Plan Territories
Manage Pipeline
CRM Compliance
Close Deals
Report to HQ
Sales Coaching
How vulnerable is your sales performance?
You can’t manage what you can’t see
How do you reduce sales performance risk?
Top performers are 10x more likely to use analytics1
Use of Analytics
Sales Productivity
10x
Coaching can improve sales productivity by 88%2
Sales Analytics
Coaching
Source: 1 IBM/MIT; 2 SEC/CEB
Top PerformersLow Performers
+88%Coaching
No Coaching
Top Performers Use Analytics 5x More Than Low PerformersFor Sales & Marketing The Ratio Is 10x
-2 0 2 4 6 8 10 12
Top PerformersLow Performers
Application of Analytics Score: 1 Indicates equally likely to apply Intuition and Analytics
Financial Management & Budgeting
Operations & Production
Strategy & Business Development
Sales & Marketing
Customer Service
Customer Experience Management
Intuition AnalyticsTendency to apply Tendency to apply
22
1.1 Low Performer Average
5.4 Top Performer Average
Source: Analytics: The New Path to Value, a joint MIT Sloan Management Review and IBM Institute for Business Value Study
0 1 3 5 7 9 11 13
10:1
It takes 68% longer to Lose a sale than to Win
+68% WINNING SALES CYCLE
LOSING SALES CYCLE
All Deals
$250k+
$100k - $250k
$50k - $100k
<$50k
You can gain deep insight from smart sales analyticsSource: Dealmaker Index Study
0 50 100 150 200 250
141
160
197
212
178
93
98
111
137
106
WonLost
Duration of Won & Lost Sales Cycles in Days
But Most Analytics Projects Fail
Yes45%
No55%
55% of Analytics Projects Never FinishAlmost 100% Run Over Budget
Project Complete?
Source: Infochimps / CSC 2013
It doesn’t have to be that way …
Yes45%
No55%
55% of Analytics Projects Never FinishAlmost 100% Run Over Budget
Project Complete?
$
How to Succeed
Fix the Scope
Add Business Context
Embed Expertise
10 Elements for Great Sales Analytics
Sales DomainSpecific
VisualizeResults
Available to Everyone
Integrates With CRM
Mobile &Cloud
Start With Questions
Apply to Business Outcomes
Embed in Daily Processes
Goal Related
IdentifyInsights
Data Visualization is Critical
Sales Coaching Improves Performance
+88%
Coaching Improves Productivity1
Source: 1 SEC/CEB, 2 Gallup
+56%
Coaching Increases Customer Loyalty2
The Sales Coaching Paradox
Sales SupportInitiatives
Sales Coaching
Importance
Res
ourc
e
Sales Coaching is recognized as Important, but Resource is Not appliedSource: Sales Management
Association
LESS IMPORTANTMOST SUPPORTED
LESS IMPORTANTLEAST SUPPORTED
MOST IMPORTANTMOST SUPPORTED
MOST IMPORTANTLEAST SUPPORTED
Product Innovation
Importance to Sales Force Success ‡
Supp
ort F
rom
Upp
er M
anag
emen
t†
Lower Prices
Sales Management Training
Improved Sales Admin Support
Sales Comp Plan Change
Proper Sales Territory Coverage
Enabling Technology
Best Practice Sharing
Sales Coaching
Pre-Sales Support
Channel Development
Team Selling
Salesperson Training
Cross Selling New Account Selling
Improved Lead
Generation
† Seven-point rating scale; 1 is “not important at all,” 7 is “very important.” Mean value is 4.83.‡ Seven-point rating scale; 1 is “not supported at all,” 7 is “heavily supported.” Mean value is 4.02.
3σ2
3σ2-3σ2
-3σ2
And here’s the detail ...
Sales Managers Don’t Coach
Yes27%
No73%
73% of Managers Spend <5% of their time Coaching
More than 5% of Time Coaching?
Source: Sales Management Association
23%
Why Sales Managers Don’t Coach
Source: Sales Management Association
47%
26%
100%
50%
0%Don’t Value
CoachingNot Enough
TimeDon’t Know
How to CoachSales RepsDon’t Ask
Other
2%2%
23%
Sales Managers Don’t Coach: Knowledge Gap
Source: Sales Management Association
47%
26%
100%
50%
0%Don’t Value
CoachingNot Enough
TimeDon’t Know
How to CoachSales RepsDon’t Ask
Other
2%2%
How can smart automation empower the sales manager?
10 Rules for Great Sales Coaching
Adopt Buyer’s Perspective
Elicit Critical Thinking
Praise Good Insight
Be Objective & Curious
Document Actions
Collaborative Regular Cadence
ConsistentFramework
Don’t Take Over
Look for Evidence
But … What if you could do it right …?
Top performers are 10x more likely to use analytics1
Use of Analytics
Sales Productivity
10x
Coaching can improve sales productivity by 88%2
Sales Analytics
Coaching
Source: 1 IBM/MIT; 2 SEC/CEB
Top PerformersLow Performers
+88%Coaching
No Coaching
Based on Data, Knowledge, & Experience
We wrote the book on:- Smart Systems (1988)- Sales Process (2004)- Opportunity Management (2009)- Account Planning (2013)
1,000,000
1,200,00010,000,000
$1,000,000,000
TAS users since 1988
Hours of Sales Coaching
Sales cycles measured and analyzed in Dealmaker
$1Bn closed in Dealmaker each month
Analyze. Visualize. Coach.How vulnerable is your sales performance? You can’t manage what you can’t see. Get expert sales insights using smart sales analytics. Built-in sales expertise and automated coaching drives focus to improve sales performance.
Have I earned my sales performance badges?
What levers do I need to pull to improve?
How are the best reps
performing?
Am I growing my
pipeline?
Is there dead wood in the
pipeline?
What % of opportunities are Inactive?
Where are deals stalled?
What’s the value of Inactive
deals?
Are there any late stage deals
that are Inactive?
Are too many deals not moving?
Where am I losing deals?
Have deal values changed in the period??
What happened to the deals from
each stage?
Am I losing late stage
deals?
What does a winning sales
cycle look like?
Why does it take longer to lose? I’m wasting resources
Compare regions and individuals to
‘clone’ winners
Am I losing deals early?
TAS Software: World-Class Performance
100% Built on Force.com®
Hosted on salesforce.com® cloud
Exceptionally reliable, scalable, secure
Scales, tunes and backs up data automatically
Analyze. Visualize. Coach.
The problem is not information overload – the problem is a deficit in insight