Date post: | 14-Apr-2017 |
Category: |
Sales |
Upload: | inflexion-point-strategy-partners |
View: | 555 times |
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WHY ANALYSE?BOB APOLLO
2 [GARTNER]
“Analytics are the key that enables the VP of sales, sales operations and front-end sales organizations to move from a
culture based only on gut feeling and perception-based decision making to one based on factual data supporting tactical and
strategic decision making”
3
13.2%CAGR
$6.4b2018
[IDC]
4
+58%2015-16
[STATE OF SALES REPORT]
5
THE CASE FOR ANALYTICS
Compelling
6
72%
48%37%
BEST-IN-CLASS AVERAGE LAGGARDS
ANALYTICS ADOPTION
% OF SALES PEOPLE ON QUOTA
[ABERDEEN GROUP]
7
166 Days
207 Days
ANALYTICS USERS NON-USERS
AVERAGE SALES CYCLE LENGTH
150
225
200
175
[ABERDEEN GROUP]
8
GUIDED SELLING TARGETED COACHING
BEST PRACTICE ADOPTION
60%
[ABERDEEN GROUP]
33%
53%42%
9
PREDICTING WHICHDEALS ARE MOSTLIKELY TO CLOSE
IDENTIFYINGOPPORTUNITIES
AND THREATS
45%
[ABERDEEN GROUP]
13%
37%
19%
SUPERIOR ABILITY TO FOCUS
10
RETAINING TOPSALES TALENT
ON-BOARDINGNEW HIRES
53%
[ABERDEEN GROUP]
38%
44%
19%
BETTER PEOPLE MANAGEMENT
11
93% BETTER ATWALKING AWAYFROM BAD DEALS
[ABERDEEN GROUP]
12
LAYING THE FOUNDATIONS
13
YOU CAN’TANALYSE INA VACUUM
BETTER DATABETTER PROCESS
15
CRITICAL DATA POINTS
Opportunity size Opportunity stage Opportunity age Opportunity attributes Time in stage Level and type of activity History of change
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POTENTIAL OPPORTUNITY ATTRIBUTES
Opportunity owner/team etc. Organisational size, sector, location, etc. Lead source Product/service type “Fit factors”: structural, behavioural, situational Compelling event Formal budget Momentum Other factors that influence your chances of winning
17
ACTIVITY DATA
Calls Conversations Meetings Demonstrations Proposals Frequency/recency
18
MACRO VARIABLES
Particularly for transactional/high-volume environments: Price points Promotions Competitive activity Market dynamics Seasonality Other external influences
19
78%
WORLD-CLASSSALES ORGANISATIONS
30%
ALLSALES ORGANISATIONS
“Our sales management team is highly confident in the data available
from our CRM system.”
[MHI]
20
DEFINING YOUR SALES PROCESS
The critical foundation: Clear, universally applied stage definitions Unambiguous milestones between stages Accurate assignment of deals to stage Minimise opportunity for error Key fields completed Embedded in CRM
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ACTIONABLE ANALYTICS
Assess your priorities: Effectiveness vs. Efficiency Opportunity Management Pipeline Management Forecast Accuracy New Hire Onboarding People Development Winning Habits vs. Losing Behaviours
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SOME INTRIGUING QUESTIONS
What percentage of opportunities by volume and value convert to a sale from this stage?
How does this opportunity’s value compare to our average won deal size?
How does this opportunity’s age compare to our average won deal duration?
How many times has this opportunity’s value changed?
How many times has the opportunity's close date changed?
How has the volume and value of our pipeline evolved over time?
What are the common characteristics of won and lost deals?
23
CHOOSING THE RIGHT PLATFORM:3 KEY PRINCIPLES
1. Avoid IT dependency
2. Tap into collective experience
3. Insist on intimate integration with CRM
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AUDIENCES FOR ANALYTICS
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SALESPEOPLE
SALESMANAGERS
SENIOREXECUTIVES
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SALES PEOPLE
Tool
Sales Opportunity Dashboard
Application
Lead/opportunity scoring Target/prioritise opportunities Identify/prioritise actions Guided selling (know and do)
Benefits
More effective selling Improved quota performance
27
SALES MANAGERS
Tool
Team Performance Dashboard
Application
Patterns of success and failure Proactive pipeline management Identify opportunities at risk Identify coaching/training needs
Benefits
More accurate revenue forecasting Progressively improve team performance
28
SENIOR EXECUTIVES
Tool
Executive Dashboard
Application
Establish/monitor KPIs Reliable revenue forecasting Identification of risk factors Enhanced market planning/segmentation
Benefits
Greater confidence in results Improved return on resources
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ANALYTICS IN ACTION
30
ANALYTICSIN ACTION
TARGETEDACTIONS
SKILLSTRAINING
PROCESSIMPROVEMENT
INDIVIDUALCOACHING
31
HOW IS OUR PIPELINESHAPING UP?
32
35
WHAT ARE WE GOING TO CLOSE?
37
IS TIME A FACTOR?
39
HOW DO PEOPLE COMPARE?
42
THE POWER OF VISUALISATION
44
PUTTING ANALYTICS TO WORK
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PUTTING ANALYTICS TO WORK
Sales analytics breaking through into mainstream
Best-in-class sales organisations already highly engaged
Impact on short and long-term performance
Critical foundations: data and process
Avoid IT dependency
Tap into collective experience
Insist on intimate CRM integration
Establish buy-in by aligning with the needs of your audiences
Ask intelligent questions: why and what-if
Focus on patterns of success and failure
SALESANALYTICS:THE FINAL FRONTIER?
LESSKIRK
MORESPOCK