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Steve Mckenzie - How to Run Your Sales Team Like a Data Scientist
The document discusses how sales teams can take a more data-driven, scientific approach to improve performance. It notes that companies using this approach see dramatic productivity increases of 200% for reps in the lower quartiles. It describes the average day of a data scientist as extracting data from multiple sources, analyzing it from different angles to find trends, and communicating insights to influence strategy. It provides a five-step guide for sales teams to start taking this approach, including getting support, selling the benefits, setting goals, creating transparency, and using data to inform conversations. The document advocates that sales teams focus on performance metrics and use data to continuously measure, assess, and improve.
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Steve Mckenzie - How to Run Your Sales Team Like a Data Scientist
- 1. INBOUND15 How to RunYour Sales Team Like a Data Scientist Steve McKenzie Head of Sales InsightSquared
- 2. #INBOUND15 Companies that usea scientific approach to sales force effectiveness have found that reps in the lower quartiles show dramatic improvement, with productivity jumps of 200%. HBR
- 3. #INBOUND15 “A Company hastwo kinds of problems • Not Enough Revenue • And every other kind of problem” Bob Brennan, CEO Veracode
- 4. INBOUND15 • Background incomputer science, applications, modeling, statistics, analytics and math • Strong business acumen with ability to communicate findings to business and IT leaders to influence how organizations approach business challenges • Doesn’t just address business problems; they will pick the right problems that have the most value to the organization • They are inquisitive. Always exploring, asking questions, doing “what if” analysis, questioning existing assumptions and processes IBM What is a data scientist?
- 5. INBOUND15 I’m pretty sure mostSales Leaders are thinking …
- 6. INBOUND15 • I’m anartist ….. • I’m good with people ….. • I like people ….. • People like me ….. • I play golf ….. • I take people to ball games ….. • And have steak dinners ….. • I don’t need data ….. C’mon, let’s get real.
- 7. INBOUND15 (general blank slide) Thosefolks may be approaching …..
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- 9. INBOUND15 (general blank slide) Let’sget into it.
- 10. INBOUND15 • Involves extractingdata from multiple sources • Running it through an analytics platform • Creating visualizations of the data • They will then spend hours cleansing and analyzing the data from multiple angles • Looking for trends that highlight problems or opportunities • Any insight is communicated to business with strategy recommendations Average day of a data scientist
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- 12. #INBOUND15 Remember: You cannot improvewhat you cannot measure!
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- 14. INBOUND15 Big Data vs.Small Data • Big Data = Machine Generated (IoT) • Small Data = Human Generated • As Sales leaders we are focused on Small Data • Data resulting from human efforts • CRM • Marketing Automation • Telephone Systems
- 15. INBOUND15 Cheat your wayto becoming a data scientist
- 16. INBOUND15 (general blank slide) Thebeauty is…
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- 18. #INBOUND15 For starters: Focuson Performance! Performance “Doing the things you need to do to get the results you want.” Result “By-Product of Performance.”
- 19. INBOUND15 • Did Ihave a good day / week / month? • How did my day compare to yesterday / last week / last month? • How do I compare to my colleagues? • Did the changes I made have an impact? • How am I going to do against my goals? • How did I do against these goals I set? • Are the goals correct? Performance questions
- 20. #INBOUND15 So how doyou do it? What does taking a data-driven approach to sales look like?
- 21. INBOUND15 • The CustomerJourney • Through the eyes of a Sales Leader • Everything looks like a funnel • Many things to analyze • Lets keep it simple Awareness to Loyalty
- 22. INBOUND15 Marketing performing asexpected?
- 23. INBOUND15 Callers’ performance vs.activity goals?
- 24. INBOUND15 Pipeline quality overquantity
- 25. INBOUND15 What are myconversion rates?
- 26. INBOUND15 What is mysales cycle?
- 27. INBOUND15 Are we wastingtime on time wasters?
- 28. INBOUND15 What deals areat risk?
- 29. INBOUND15 Why are welosing?
- 30. INBOUND15 Data science allowsus to focus on performance
- 31. INBOUND15 Results take careof themselves
- 32. INBOUND15 • Extracting datafrom multiple sources • Running it through an analytics platform • Creating visualizations of the data • Spending hours cleansing and analyzing the data from multiple angles • Looking for trends that highlight problems or opportunities • Any insight is communicated to business with strategy recommendations Remember the average day of a data scientist?
- 33. INBOUND15 You really cancheat your way to becoming a data scientist
- 34. INBOUND15 1. Get support- top to bottom 2. Sell the benefits to all stakeholders - don’t tell … sell 3. Set your S.M.A.R.T goals – know the questions you want answers to 4. Create a culture of transparency – celebrate knowledge 5. Use data to inform all conversations – less opinion more fact Five step guide
- 35. INBOUND15 • Research showsthat data driven teams perform better • It’s not that hard if you know how • It’s not that hard if you have the tools • You should do it if you want to improve • You should just do it! Summary
- 36. #INBOUND15 Do it… Measure it… Assessit… Improve it… Repeat cycle.
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