Cloud9 treasure-hunting-in-your-salesforece-data

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Benchmarking techniques for turning Salesforce.com CRM data into useful management insights - visit http://DataDrivenSalesManagement.com for more discussion on this content.

Benchmarking techniques for turning Salesforce.com CRM data into useful management insights - visit http://DataDrivenSalesManagement.com for more discussion on this content.

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  • 1. Treasure Hunting in Your Salesforce Data Swayne Hill Co-Founder & Senior VP, Cloud9 Intelligent Sales Forecasting © 2012 Cloud9 Analytics, Inc. All Rights Reserved.© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 2. We Don’t Need more Dashboards, We Just Need Answers© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 3. About Me•  Senior VP Sales & Field Operations, Cloud9•  18 Years in Business Intelligence•  Built and Managed Sales Teams for Cognos - $50M to $1B•  Co-Founded Cloud9, 2007 Blog: DataDrivenSalesManagement.com Twitter: @DataDrivenSales© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 4. Treasure Hunting in Your Own Back Yard There’s Gold in Your Sales Data, You Just Need a Way to Find it© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 5. Recent Salesforce Reporting Enhancements ü Bucketing Allows customized grouping of report records (e.g., deals that are Small, Medium, and Large as defined by opportunity value). ü Cross Filtering Allows reports to be filtered by a field from a related object (e.g., contacts from accounts that don’t have a close opportunity—the opportunities are the “related object” Opportunities don’t appear in the report but we use a field from Opportunities as a filter). ü Joined Report Format Allows two or more reports grouped by a common field (e.g., Opportunities report and Cases report grouped by Account Type—Customer, Prospect, etc.) ü Higher limits on Analytic Snapshots… Scheduled Reports and Dashboards, and Dynamic Dashboards© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 6. …But Resist the Urge to Build Yet More Dashboards© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 7. The Real Problem: How do we know…How do I know if it’s good or bad Good? …or Bad?© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 8. Two of My Favorite Business Intelligence Tools© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 9. © 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 10. Three Techniques1. Correlation2. Modeling3. Threading© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 11. Correlation 1 2 3 4 •  By Correlating Stage Days to Win Rate, we learned that spending MORE time in Stage2 was actually a good thing© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 12. Correlation: ‘Stalled’ Risk Filter •  Action – ‘Stalled Risk’ risk filter, driven from new benchmarks •  Result – Early warning for sales managers on Stalled Deals, better coaching, increased Win Rate by 30%© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 13. Modeling (on/off Model)1.  Separate ‘Probability’ into two distinct components – ‘Forecast Probability’ (standard Salesforce Probability) and ‘Win Probability’ (how close is the deal to our sweet spot)2.  Create a Model for weighting the qualification questions to assign the ‘Win Probability’3.  Use the Model to create benchmarks for driving Risk Filters, support manage-by-exception© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 14. Modeling: In Practice Forecast Attainment Average Days to Win100% 0 20 40 60 80 100 120 140 160 80% 148 01-Qualify Prospect 88 60% 145 40% 02-Secure Sponsorship 96 Oct Nov Dec Jan Feb Mar Forecast Attainment 100 03-Secure DG Preference 85 Deals Slippage 04-Negotiate Business Terms 34 6080%60% 18 05-Negotiate Legal Terms 2140%20% 14 06-Pending Approval 0% 9 Oct Nov Dec Jan Feb Mar # Of Opps Slipped From Forecast Have not met with VP Sales Have met with VP Sales© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 15. Modeling: ‘Met With VP Sales’ Risk Filter •  Action – ‘Met With Sales VP’ risk filter •  Result – Early warning for sales managers on rep engagement at a key decision-maker level, better coaching, improved forecast accuracy by 50%© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 16. Threading: Sales Pipeline Velocity Pipeline # of Deals * Win Rate * Average Deal Size = Velocity Average Selling Time (Days) Deals Win Rate Deals Size Selling Time Maximum number of Total Closed/Won Average value of Average duration for deals set to close in deals in the period Closed/Won deals in Closed/Won deals in the period relative to Deals the period the periodEffected by... • Lead Flow & • Loss rates • Product mix • Stage duration, stage Conversion Rates • Stage-based • Discount levels, movement • Uncovered Territories, conversions tendencies • Expired deals, data Rep Turnover • Stalled deals by stage • Rep portfolio (SMB/ quality • Undocumented Deals • Deferral rate, slippage Enterprise) • Repeated deferrals • … • … • … • … © 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 17. Threading: In Practice •  Chart the Variance (current month – benchmark, e.g. rolling 6-mo average) •  Watch for changes/trends in Drivers for clues to Root Cause© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 18. Threading: In PracticeWe looked at… Found: Carcass Carriers! 80%•  Stage duration, stage 70% 69% movement 70%•  Expired deals, data quality 60% 52%•  Repeated deferrals 49% 50% 41%•  Late stage “new” deals showing 40% 35% up 30%•  Close dates improperly set•  Rep training, tenure 20% 10% 0% Oct Nov Dec Jan Feb Mar % of Rev Subject to 3+ Close Date Slips© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 19. Threading: ‘# of Pushed Close Dates’ Risk Filter •  Action – ‘# of Pushes’ risk filter, driven from new benchmarks •  Result – Early warning for sales managers, better coaching, reduced deal slippage by 3X and re-established Velocity© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 20. 1. Correlation2. Modeling3. ThreadingYou Too Will Find Goldin Your Sales Data© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 21. Cloud9’s Intelligent Sales Forecasting Intelligent Sales Sales Business Forecasting Forecasting Intelligence Collect Forecast Embedded Unify Sales Manage Change Business Forecasting and Intelligence Pipeline Isolate Risk provides Guidance Management to and Risk visibility improve Coach & Course- for improving Sales accountability Correct Team productivity Deliver on the Forecast© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 22. Driving Customer ValueSalesforce.com is perfect for managing accounts andopportunities. We use Cloud9 to manage our people.Dan Solito, VP Global Sales Operations - AvayaWe increased revenue by $1.6M/year bydelivering Cloud9 to the management team.Dave Fitzgerald, EVP - BrainsharkWe increased year-over-year win rates by17% after deploying Cloud9.Scott Johnson,VP – Stanley, Black & Decker 2010 2011 2012© 2012 Cloud9 Analytics, Inc. All Rights Reserved.
  • 23. Treasure Hunting in Your Salesforce Data Swayne Hill Co-Founder & Senior VP, Cloud9 Intelligent Sales Forecasting © 2012 Cloud9 Analytics, Inc. All Rights Reserved.© 2012 Cloud9 Analytics, Inc. All Rights Reserved.