qstream and sales & marketing management webinar: next-generation kpis for the data-driven sales...
TRANSCRIPT
Next-Generation KPIs for the Data-Driven Sales Manager
Twitter@SalesMktMgmt@Qstream
Sharing Today’s WebcastHashtags #salesKPI#salesanalytics
Sales Art Becomes Science
(Take me to your leader)
A system that helps sales management:
Why Sales Analytics Matter
to ensure revenue performance
Identify and predictsales trends and outcomes
Understand where sales people can improve
Survey
Is data driving your sales leadership decisions?
Congratulations!
more likely to be a top performer in your industry
Bain & Company
2X 3X 4X
more likely to execute decisions as planned more likely to make decisions faster
Building Your ‘Sales GPS’• Metrics are quantitative measures• Analytics
– Predictive: Historical data– Adaptive: Real-time data
Revenue Performance
Sale
s F
orce
Bottom 20%Accelerate Growth or Evaluate for
Reassignment
Middle 60% Accelerate
Growth
Top 20%Maintain and Grow
5% performance gain from the middle 60% yields over 70% more revenue than a 5% shift in the top 20%
Moving the Middle
Sales Executive Council (SEC)
Tackling the Speed of Change
Qstream Sales Readiness Survey, April 2014
One-third of Reps Are Not Ready to Win
But which ones are they?
CRM: Your Crystal Ball?
Do we just analyze the past…or can we impact the future?
Answer: To Improve the Data
Can We Manage Data?
Uncovering the Reality of Our Reports
Can I Manage This?Revenue
Customer Satisfaction
Market Share
Pipeline SizeVolume
Ramp-Up Time
IT InvestmentCoaching
Call Type
Tool Usage
Segment of Customer
Number of AccountsTime Allocation
Quota Achievement
Share-of-Wallet
Process Usage
Skill LevelTerritory Coverage
New/Existing CustomersCall Outcomes
Customer Retention
Deal Size
Prospect Type
New/Existing Product
Call VolumeUp/Cross-Selling
Cracking the Sales Management Code, 2012
Metrics Framework
Salesperson and manager activities that can be proactively managed
Objectives that require ‘consent’ but can be influenced
Organizational outcomes that can not be ‘managed’ whatsoever
Cracking the Sales Management Code, 2012
#1: We Can Only Manage Activities
Salesperson and manager activities that can be proactively managed
Objectives that require ‘consent’ but can be influenced
Organizational outcomes that can not be ‘managed’ whatsoever
Cracking the Sales Management Code, 2012
#2: Cause-and-Effect
Cracking the Sales Management Code, 2012
Example
RevenueMarket Share
Quota Achievement
Sales Activities
Business Results
Sales Objectives
Volume
New/Existing Product
Share-of-WalletTerritory Coverage New Customer Acquisition
Customer Retention
Coaching Account Plan CompletionCall Volume
Call Type Training
Customer Satisfaction
Cracking the Sales Management Code, 2012
#3: Reverse-Engineer Success
Link the Objectives to relevant Activities, and manage them relentlessly
Select and quantify the BEST Objectives that will lead to those Results
Identify the Results you want to achieve
Cracking the Sales Management Code, 2012
Mobile as a Force Multiplier
How Do We Help Our Sales Managers?Data insights = Better sales coaches
• Engage front-line sales managers in training initiatives
• Enable data-driven visibility into team strengths via Manager dashboards
• Identify gaps in real-time to remediate • Understand coaching actions taken
Manager Dashboards Improve Coaching Effectiveness by 55%
…And Drive Performance
Sales Management Association, 2014
Sales reps who request help
Poor performers New sales resp Salespeople transitioning into new roles
Sales reps with a specific development issue
High performers
Lowest thirdMiddle thirdHighest third
Annual firm sales goal achievement
High-performing organizations provide 15-20% more coaching time than low performing companies.
Track Improvements Over Time
Connecting the Dots
Some Predictions…1. Sales forces will adopt a ‘less is more’
approach to data and reporting2. Front-line sales managers will (finally)
become the focus of training groups3. Mobile productivity and predictive analytics
tools will become ubiquitous4. Sales analytics will become more actionable5. More heads of sales will get “C” in their title
