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Sales Management 2 0: Metrics Not Hunches
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Sales Management 2 0: Metrics Not Hunches

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Learn about the importance of sales analytics to CRM success. You can also watch the recorded webinar here: https://www1.gotomeeting.com/register/771765206

Learn about the importance of sales analytics to CRM success. You can also watch the recorded webinar here: https://www1.gotomeeting.com/register/771765206

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Sales Management 2 0: Metrics Not Hunches Sales Management 2 0: Metrics Not Hunches Presentation Transcript

  • Sales Management 2.0: Driving Performance with Data, not Opinions Barry Trailer, CSO Insights Ken Rudin, LucidEra Copyright © 2008 LucidEra and CSO Insights– All rights reserved
  • Today’s Agenda
    • Sales Management 2.0: Introduction and Overview
      • Barry Trailer, CSO Insights
    • Business Analytics: Enabling Sales Management 2.0
      • Ken Rudin, LucidEra
    • Q & A
    Copyright © 2008 LucidEra and CSO Insights– All rights reserved
  • Polling Question
    • For 2008 is your quota figure:
      • Lower than or equal to 2007?
      • <10% Higher than 2007?
      • 10-20% Higher than 2007
      • >20% Higher than 2007?
      • Has not yet Been Assigned
    Copyright © 2008 LucidEra and CSO Insights– All rights reserved
  • Polling Question
    • If your quota has not yet been assigned do you expect it to be:
      • Lower than 2007 or equal to 2007?
      • <10% Higher than 2007?
      • 10-20% Higher than 2007
      • >20% Higher than 2007?
    Copyright © 2008 LucidEra and CSO Insights– All rights reserved
    • To achieve these higher quotas
    • What is going to be different?
    Key Question for Today’s Discussion Copyright © 2008 LucidEra and CSO Insights– All rights reserved
  • You’re the Coach! Copyright © 2008 CSO Insights– All rights reserved
  • You’re the Coach with Metrics! Copyright © 2008 CSO Insights– All rights reserved
  • Lots Being Said About Sales 2.0 Copyright © 2008 CSO Insights– All rights reserved
  • Sales Process Workshop Sales Management 2.0 New White Paper! Copyright © 2008 CSO Insights– All rights reserved
  • Much Less Being Said About Sales Management 2.0 Copyright © 2008 CSO Insights– All rights reserved
  • Before the Next Polling Question…
    • Assess your organization’s ability to provide sales managers with timely/accurate performance metrics:
      • Close deals within the original forecast timeframe
      • Sell value and/or avoid discounting
      • Differentiate vs. the competition
      • Clearly understand the customer’s buying process
      • Effectively share best practices across the sales force
      • Proactively identify which reps need extra coaching/mentoring
      • Consistently hire sales reps who can succeed selling your offerings
    Copyright © 2008 LucidEra and CSO Insights– All rights reserved
  • Polling Question
    • Assess your organization’s ability to provide sales managers with timely/accurate performance metrics:
      • Needs Improvement
      • Meets Expectations
      • Exceeds Expectations
      • Don’t Know
    Copyright © 2008 LucidEra and CSO Insights– All rights reserved
  • General Survey Population’s Answers Copyright © 2008 CSO Insights– All rights reserved
  • Sales Strategy Execution Firms Reporting Reps Exceed Expectations in Areas Listed Managers Have Metrics Managers Do Not Have Metrics Copyright © 2008 CSO Insights– All rights reserved
  • Sales Management Effectiveness Firms Reporting Managers Exceed Expectations in Areas Listed Managers Do Not Have Metrics Copyright © 2008 CSO Insights– All rights reserved Managers Have Metrics
  • Sales Rep Turnover Copyright © 2008 CSO Insights– All rights reserved
  • Sales Kickoff! Copyright © 2008 CSO Insights– All rights reserved
  • S & T R & C F I III II IV E Feedback Systems & Training Rewards & Consequences Expectations What do I do? How well do I need to do it? How important is it? How do I know what to do? How do I know how I’m doing? How do I do it? What tools, processes and/or systems do I have? What good/bad happens if I do it? What good/bad happens if I don’t do it? A New Management Model Copyright © 2008 CSO Insights– All rights reserved
        • 1. Accurate
        • 2. Consistent/Objective
        • 3. Relevant
        • 4. Timely
        • 5. Individualized
    5 Tests for Meaningful Feedback Copyright © 2008 CSO Insights– All rights reserved
        • 1. Management Commitment – Clear vision, goals, objectives, and demonstration of management involvement.
        • 2. Clear Expectations -- Defining appropriate processes, behaviors, priorities and what’s important.
        • 3. Systems Enablement – Systems and training that leverage selling time, ease/speed selling tasks, and increase access to sales knowledge.
        • 4. Meaningful Metrics – Feedback that meets all five tests of meaning.
        • 5. Analytic Capabilities – Providing “movies” not just “snapshots;” dashboards that convey knowledge not just data.
    What Sales Management 2.0 Looks Like Copyright © 2008 CSO Insights– All rights reserved
  • Today’s Agenda
    • Sales Management 2.0: Introduction and Overview
      • Barry Trailer, CSO Insights
    • Business Analytics: Enabling Sales Management 2.0
      • Ken Rudin, LucidEra
    • Q & A
    Copyright © 2008 CSO Insights– All rights reserved
  • 5 Signs You Need Better Sales Analytics
    • You’re forced to make important decisions based on gut-feel and anecdotes, instead of analytics.
    Copyright © 2008 LucidEra and CSO Insights– All rights reserved
  • 5 Signs You Need Better Sales Analytics
    • You’re not 100% clear on what to focus on and where to intervene to hit your number this quarter.
    Copyright © 2008 LucidEra and CSO Insights– All rights reserved What industries are strong? How does this compare to last year? What’s working? What’s not working? What are the trends? Which reps push the most? Where should we invest?
  • 5 Signs You Need Better Sales Analytics
    • You can’t tell which deals are getting stuck in your pipeline and why.
    Copyright © 2008 LucidEra and CSO Insights– All rights reserved
  • 5 Signs You Need Better Sales Analytics
    • You dread being asked by your CFO, “How big does your pipeline need to be to hit your number this quarter?”
    Copyright © 2008 LucidEra and CSO Insights– All rights reserved
  • 5 Signs You Need Better Sales Analytics
    • You’re struggling to analyze sales trends and track opportunities over time in monster Excel spreadsheets.
    Copyright © 2008 LucidEra and CSO Insights– All rights reserved Expensive Complex Painful Time Consuming Risky
  • Next Steps: Don’t Wait for Sales Analytics!
    • Make it a top business initiative
    • Think big, start small
    • Make it about a business process
    Copyright © 2008 LucidEra and CSO Insights– All rights reserved Pipeline Closed Deals Invoices Shipments Orders Booked
  • Special Offer for Webinar Attendees Only
    • For attending today’s webinar: pre-publication purchase of 2008 Sales Performance Optimizations report for $995. ($1495 when published)
    • Go to: http://www.csoinsights.com/current_reports.htm
    • Order the 2007 SPO report and include “Lucid” before the “.com” in your email address.
    • (example, barry.trailer@csoinsightslucid.com)
    Copyright © 2008 CSO Insights– All rights reserved
  • Today’s Agenda
    • Sales Management 2.0: Introduction and Overview
      • Barry Trailer, CSO Insights
    • Business Analytics: Enabling Sales Management 2.0
      • Ken Rudin, LucidEra
    • Q & A
    Copyright © 2008 CSO Insights– All rights reserved
  • Contact Information
    • Barry Trailer
      • [email_address]
      • 415-924-3500
      • www.csoinsights.com
    • Ken Rudin
      • [email_address]
      • 650-931-0301
    Copyright © 2008 CSO Insights– All rights reserved www.lucidera.com