Sales analytics-for-smarter-selling-goodsales

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Sales analytics-for-smarter-selling-goodsales

  1. 1. Sales Analyticsfor Smarter SellingYou can’t manage what you can’t see, so getting access to the right dataat the right time is critical for managing your sales pipeline. With this visibility,you and your team can act quickly to take advantage of opportunities inthe pipeline and, ultimately, increase sales revenue. Don’t make the mistakeof relying only on past data, when you can have a more holistic analyticspicture at your fingertips.
  2. 2. Sales Analytics for Smarter SellingTable Of Contents 1. Using “Real-Time” Data to Effectively Manage the Sales Organization 2. The Problem 3. The Solution: Driving Sales with Real-Time Data 4. Current Position 5. Is the Pipeline Changing as Expected? 6. Sales Activity and Velocity 7. Use the Data to Sell, not Gaze into the Past 8. What was Learned? 9. About GoodData
  3. 3. Sales Analytics for Smarter SellingUsing “Real-Time” Datato Effectively Manage theSales OrganizationAs a sales manager, you always have a clear view into the past but, whenmanaging a dynamic sales organization, the past is only partially prologue.To manage effectively, you need detailed real-time information for a completeand accurate picture of your current sales situation. This information must becontinually adapted to immediate needs in order to minimize pipeline risk,highlight changes in opportunities and enable a laserlike focus on high-valueactivities. Successful sales organizations go beyond simply analyzing crucialdata — they manage it to guarantee success.1.Learn how GoodDatacan help your business: www.gooddata.com | @gooddata | (415) 200-0186 | info@gooddata.com
  4. 4. Sales Analytics for Smarter SellingThe ProblemSales management are often left reflecting on what happened during thequarter, where things went well, what caught them out, why deals werelost. Sales data is largely used to provide a view into the past, and is notaccessed on a consistent basis. By implementing real-time data analysis, salesorganizations can mine the information for a tactical view of the current salessituation. Immediate and timely access to the sales situation helps ensure thesuccess of your sales people.Among many other tasks, managing a dynamic sales organization includes the ability to answer criticalquestions about the sales pipeline. Success in meeting goals is extremely dependent on having detailedanswers to specific queries. You’re at great risk of being left behind by competitors without answers to the following questions: • Where am I now in all sales cycles? • What is changing? • How can I correctly react to what the data is telling me? • Where do I need to focus my efforts? • Are there any blind spots in my sales forecast?2.Learn how GoodDatacan help your business: www.gooddata.com | @gooddata | (415) 200-0186 | info@gooddata.com
  5. 5. Sales Analytics for Smarter SellingThe Solution: DrivingSales with Real-Time DataUsing sales data to sell instead of viewing it as an historical record will enable your organizationto effectively plan to meet and even exceed sales goals. Your most important decisions will becompletely data driven, and you will get answers to the most pressing concerns in real time.Where is the quarter going to end up? How many sales agreements have closed, and what else isexpected to close?Most important is the level of risk in the pipeline. If your organization isn’t on track to reachingits goals, what can be done to alter the current path. We’ll answer this critical question in thesections below.Let’s examine how to handle the concerns mentioned above and more by using sales data inan actionable way. During this entire process, our major focus will be on positioning the salesorganization to meet its quarterly goals. We will be looking at improving the efficiency of thesales process and how to make more accurate forecasts and revenue predictions.Using these methods, the planning of territories and quotas, the management of forecasts andsales representatives and the final review of what was attained are all scrutinized at the “currentpoint” in the quarter. By addressing key challenges, we will deliver “intelligence” across yourorganization, which can be used effectively to eliminate end-of-the-quarter surprises.3.Learn how GoodDatacan help your business: www.gooddata.com | @gooddata | (415) 200-0186 | info@gooddata.com
  6. 6. Sales Analytics for Smarter SellingCurrent PositionYou can’t manage what you can’t see, and access to the right information at the right time helps youmake correct decisions. These decisions are crucial in determining priorities, optimizing sales leads andgiving you insight into every sales opportunity. Your organization may be unable to close more businessand increase sales revenue without this data.We start by getting the big picture of our current position. This means showing progress towards quarterlygoals across all regions and products, and estimating where the quarter is going to finish. You can usecomprehensive sales data to visually show how much business has closed, what deals are expected toclose, what deals are at risk and if anything significant happened to effect the quarter. In other words,what is the overall outlook for the quarter?Finally, where is there progress? How are “actuals” trending towards goals? What is the path to reachinggoals? Is your organization on track? By looking closely at actual performance versus the goals, the salesorganization thoroughly understands the scope of work that still needs to be completed.See graph.“ A good view into the current position “ highlights risks in your pipeline in time for you to course correct.4.Learn how GoodDatacan help your business: www.gooddata.com | @gooddata | (415) 200-0186 | info@gooddata.com
  7. 7. Sales Analytics for Smarter SellingIs the Pipeline Changingas Expected?The sales pipeline is extremely important when attempting to make an accurate prediction of how thequarter will end. Pipeline opportunities should be thoroughly analyzed to determine actions that may berequired. Changes in the pipeline profile need to be watched closely as you move through the quarter.Are deals moving through the pipeline to closure? Are they getting lost or delayed? Are there competitivevulnerabilities? You need to be able to see this flow of movement at a glance without having to try andmanage hundreds or thousands of opportunities.Changes in the pipeline over the period will show you where your dollars are going and what business waslost, won, reforecast or moved out to another quarter. As your sales organization becomes more complexwith multiple product lines and business units, it is extremely important to see pipeline information forthose teams. A visual view of the various sales stages shows change and progress in the pipeline. Good Pipeline Movement“ As your sales organization becomes more complex with multiple product “ lines and business units, it is extremely important to see pipeline information for those teams.5.Learn how GoodDatacan help your business: www.gooddata.com | @gooddata | (415) 200-0186 | info@gooddata.com
  8. 8. Sales Analytics for Smarter SellingSales Activity and VelocityTo determine if the sales organization is executing effectively, manyimportant questions should be answered. What activities are driving sales?How productive is the sales organization? Are sales reps focusing on high- “value activities? What is the average pace and duration of won deals?Which deals are off pace and getting stuck? Understanding the ideal velocity for a winning deal can help the sales organization identifyEvery organization has an ideal sales pace and velocity. Deals that follow this which deals are off pace or which deals got offprogression are more likely to close than deals that lose momentum or get to a good start but got stuck in stage. Focusstuck in stage. Understanding the ideal velocity for a winning deal can help “ your efforts on these deals, as they are the ones that can save your quarter.the sales organization identify which deals are off pace or which deals gotoff to a good start but got stuck in stage. Focus your efforts on these deals,as they are the ones that can save your quarter.Identifying “Stuck” Deals Sales Pace & Velocity6.Learn how GoodDatacan help your business: www.gooddata.com | @gooddata | (415) 200-0186 | info@gooddata.com
  9. 9. Sales Analytics for Smarter SellingUse the Data to Sell,not Gaze into the PastGreat sales organizations use data to manage success, not review what’s already happened. Withoutthe right data, you’re at risk of not delivering the revenue that is expected from your organization. Withup-to-date sales data and effective views into that data, you’ll have the actionable information you needto consistently meet goals.An intelligent, 360-degree view of where the quarter is now, how it is shaping up and which deals havesmooth sailing or roadblocks help you drive sales through the quarter and beyond. As a manager, you canuse this information to focus on the most lucrative opportunities and identify risks early enough to correctthem. Analyzing sales data in real time will save you time, help you ensure the success of your organizationand make you a valued member of your team.7.Learn how GoodDatacan help your business: www.gooddata.com | @gooddata | (415) 200-0186 | info@gooddata.com
  10. 10. Sales Analytics for Smarter SellingWhat was Learned?Some people define insanity as “doing the same thing over and over again but expecting differentresults.” While the definition is debatable, a sales organization certainly shouldn’t do the same thingsthat didn’t work in previous quarters. It’s important to use the sales data to learn from mistakes, assumingthere were missteps. Mistakes aside, the data should also be carefully examined for trends and the ratesat which opportunities were created.Are there any trends that can be discerned in the rate of customer wins? Opportunities and sales ramps invarious regions and across all product lines provide invaluable information when moving forward. The overallobjective of examining the data is to gain a view into the business to effectively plan for the next quarter.Shifting your most effective sales reps into the most profitable territories, and identifying specific productsthat sell well in particular regions, are examples of what can be done to ensure sales success. By managingeffectively, you can increase your team’s motivation and performance in many different ways. Clearvisibility into the sales pipeline allows you to easily identify areas where changes should be made. Whereshould you place your best sales rep? What is that rep doing to close opportunities successfully? Whichcompetitors did we come up against most often, and how do we win against them?With the pipeline constantly in clear view, and increased accuracy of your sales forecast, you have timeto coach teams to turn opportunities into wins.8.Learn how GoodDatacan help your business: www.gooddata.com | @gooddata | (415) 200-0186 | info@gooddata.com
  11. 11. Sales Analytics for Smarter SellingGoodData is a disruptive, cloud-based enterprise platform for business intelligence. The GoodData technologyis intuitive, secure and fast. It helps convert big data into profitable insights and strategies for businessexecutives. GoodData is trusted by companies like Enterasys, Capgemini, and Software AG, and embeddedinto offerings from cloud innovators like Zendesk, Get Satisfaction and Pardot. Headquartered in San Francisco,GoodData is privately held and backed by leading venture capital firms, including Andreessen Horowitz,General Catalyst Partners, Fidelity Growth Partners, and Windcrest Partners.Learn how GoodDatacan help your business: www.gooddata.com | @gooddata | (415) 200-0186 | info@gooddata.com

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