The first step to improving outbound lead generation is to better understand pipeline activity. An analytical approach can help sales managers to create efficiencies in sales rep activities, resulting in improved lead generation outcomes: Sales Activity Lead assignment to reps – Placing a manageable quantity of leads in each sales reps’ queue on a timely basis so they can start calling, qualifying and closing deals without being overwhelmed. Lead disposition by reps – The “why” of determining which leads are not qualified or worth pursuing is just as important as converting a qualified lead into an opportunity. Time spent on non-sales activity – Creating action lists that can be used to prioritize, assemble and validate actionable info How can analytics make reps more efficient with these sales activities? Lead assignment: Reps disqualify leads at a faster rate than they qualify them. The assignment of new leads can be automated based on total current active leads as a ratio of closed leads, and the relative volume of leads compared to other reps. Lead disposition: Disposition reasons that are clear, accurate and consistent can yield valuable info to fix specific problems. For example, if the reasons show bad data, go back to the vendor and get updated records …Read More
Tag Archives: CRM
Data.Dump
Think of the times in life when you are barraged with a tidal wave of information, but all you really want to know is, “what do I really need to know?” That inch-thick stack of mortgage paperwork. Credit card agreements. Mobile phone instruction booklets. Automobile owner manuals. Insurance policies. Now let’s picture the documents that tell you only what you need to know. Recipes, for instance. They tell you: Get these specific things out of the cupboard or fridge … if you don’t have some items, buy them … and this is how much you need … now do these actions in this order. Recipes walk you through only the actions needed to get the desired result. Recipes do not tell us all information there is to know about cooking and baking and the foods we’re making. There is a reason why measurements should be precise when baking. There is a science to proper substitutions. There is a method behind why some foods are ideal paired together and others should never touch each other on the same plate. But a recipe doesn’t get into all that. If you want more information, there are plenty of books and Internet sites where you can learn. CRM …Read More
Try this one weird trick to boost SFA adoption
That which is scarce is precious. That which is abundant has little value. More or less, these are the lessons of life. Sales organizations go through the CRM selection process with great diligence. They spend even more resources redesigning existing processes, integrating the technology and people, training and rolling out the shiny new thing with great fanfare. Making sure every sales person is empowered. Yet adoption remains at an abysmal level by measures beyond logins, “clicking on plays” and “call blocks.” Why? Here are three most cited reasons aggregated from numerous research: It is delivered primarily as a technical tool, relegating the human element. It is perceived as management pushing something from above. It is not believed to generate more value: sales, profits, targets. In other words, it is not adding value to the life of the sales person. One sales leader I know used to say, “if you don’t know the value of what you’re doing, then stop doing it. You will find out.” Yes, we are asking you to consider the opposite of what every expert says, everything you have heard, and even what we’ve said on these pages – stop doing SFA – if you are not sure of …Read More
Top CRM Trends to Watch in 2012
Our CRM trends to watch in 2011 were among the most-read words here, all year. Now let’s look forward to what’s in store for sales and marketing data in 2012 … FUSION OF SFA WITH EMA = TRUE CRM: With continuing innovation, sales force automation systems (SFA) have been transformed into a sales rep’s best friend, as discussed in an insightful blog post at Software Advice: easier implementation, data accessibility and now the benefits of analytics and marketing automation are aiding the success of sales teams using these systems. The success of CRM and Marketing Automation is no secret. More B2B organizations will take advantage of this profitable alliance to create a true lead generation life cycle platform, so that the handoffs throughout the prospect -> lead -> nurture -> sale pipeline will become more seamless and accountable. To accomplish this, data, analytics and best practices will play an integral part in relevant communication. (Also see our slide presentation, “What CRM was supposed to be.”) MORE PRODUCTIVE CUSTOMER RELATIONSHIPS: The customer value equation will go further so companies and sales teams can generate more revenue and profit from existing customers. This means examining every aspect of customer value, determining where it will come from and coaching/training to empower sales teams with …Read More
How predictive analytics adds value during & after selection of your CRM system – Part 2
Yesterday we posted the first tip of how to use predictive analytics to make your CRM system even more valuable. Today we share several more tips … Retain focus on business objectives The excitement of implementing a tool that solves basic operational problems is understandable. The front-end responsibility of reliability, inter-operability and security is clearly with IT. These challenges are significant. But it is important to go beyond the technology’s bells and whistles. By establishing a vision for analytics – metrics, measurement methods, forward-looking indicators and performance management – and incorporating these in the design, the rationale for the CRM system and its ROI can be validated. Through predictive analytics, business processes can be mapped and modeled, and benchmarks created for delivering quantifiable goals to the enterprise via the CRM system. For example, is the primary objective of your CRM to support lead generation, product penetration or customer retention? Based on your needs, predictive analytics can help develop appropriate forward-looking indicators, expected results and diagnostics of the results at all levels of activity – customer, sales people, products and operational areas. This will allow ongoing correction and calibration of your activity within the CRM system that maintains the focus on the business outcomes, not …Read More