This article is first in a series on how to leverage information – Big Data – and analytics to boost sales productivity and drive predictable, scalable revenue growth. Uncertainty – known as risk in the world of finance and variance in economics – isn’t new or unusual. Business cycles and risk have been around since the crazy tulip times, and likely long before. Rising tides hide the flaws When upcycles follow uncertain times, sales organizations can easily forget the tougher times. But upcycles can hide structural flaws that were exposed when tides were low, such as: Inadequate training to adapt Weak or dubious analytical methods Under-leveraged CRM systems Lack of cohesive approach to managing the customer experience During extended uncertain times, some companies see that they can no longer wait for the tide to return and lift their boats. Maybe the tide is flowing somewhere else. Maybe this is the new normal. This is what makes fixing structural flaws in sales operations – right now — urgent and critical. It’s always been important among sales leaders to improve sales productivity by 1.) enabling sales people and 2.) delivering more for less. Now there is renewed emphasis on analytics to boost sales productivity. This post by the Sales Management Association is spot-on regarding how sales organizations are looking to improve sales productivity. Winning against resilient competitors …Read More
Why you should put some sales tasks on auto-pilot
For any airplane pilot, the auto-pilot is a valuable companion. It can automate routine tasks such as maintaining altitude and direction so you are free to focus on the next tasks needed to reach your goal destination. Airplane auto-pilots can handle many tasks for the pilot. They can: Follow programmed climb and descent rates to pre-set altitudes Turn the plane to a specific direction Line up for landing on the runway Execute missed runway approach procedures, like climb away from the ground if the runway approach lights are not visible But amazing as auto-pilots are, aviators are aware that the auto-pilot does not fly the plane for you. You are still always responsible for reaching the goal destination. Business analytic tools – particularly those with predictive methods – can function a lot like an auto-pilot. They reduce workload, prioritize tasks and standardize best practices so you can focus on things the auto-pilot doesn’t do: continuously improving human performance, anticipating hazards far in advance, and staying ahead of the navigation tasks. Like auto-pilots, how can analytics contribute to sales enablement and productivity? REDUCE WORKLOAD: Pilots joke that flying is a long span of boredom followed by moments of panic. Perhaps like all the sales activity during the final days of the quarter? In flying, reducing mundane workload is a …Read More
What to do when your sales reps think good leads are bad
Inside sales teams are at it every day, making thousands of calls to prospects, seeking an appointment or a sale. They are given scrubbed lists with contact names, job title, phone numbers and a good luck pat. On the back end, managers track calls, appointments and sales. The cycle continues when reps deplete their assigned leads and it starts over again. There are times when this well-oiled prospecting machine can under-deliver – and you may not be aware. But there are easy fixes. Here we explore three cases, and discuss how to overcome these challenges. TESTING NEW MARKETS: When looking at sales data, you may find strong traction among companies that don’t fit the best customer profile — or at least what the rep thinks is the best profile. This finding is usually uncovered by in-depth profiling, micro-segmentation or modeling analysis. These customers may not be among the largest customers, but you find that they purchased numerous units of products that fit specific needs. As an example, say you are selling technology products, and religious institutions are not known as leading technology buyers. But recently we came across a church buying hundreds of iPads for one of its programs. This is opportunistic entry into a market if other religious institutions have similar programs. What you can do: …Read More
Fun + Games = Sales Productivity?
People like fun n’ games. If yours is like most sales organizations, there is at least one program or motivational initiative with a fun theme to it, possibly involving sports or other games. A desire for recognition and winning brings out something extra in us, and what better place than sales to showcase that, where there’s motivation to scale new heights against the competition and to personally and professionally benefit. According to gamification.org – a terrific collection of resources – gamification is “the process of adding Game Mechanics and Rewards in non-game contexts to boost Engagement, Loyalty and Fun!” If that doesn’t seem intuitive, you’ll recognize it from first-hand experience because a popular application of gamification is frequent flyer programs. Gamification is simply a methodical approach to engage your audience, create a two-way give-and-take, and connect with people’s motivations and aspirations. In a business context, engagement through games can be targeted towards customers, sales reps, partners and even employees. Let’s break gamification strategy down to its core components: Game mechanics are the building blocks of the process. Gamification.org says these “are constructs of Rules and Feedback Loops intended to produce enjoyable Gameplay that can be applied and combined in any context.” According to …Read More