Selling by the Numbers: Turnign Data into Dollars
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Transcript of Selling by the Numbers: Turnign Data into Dollars
$elling By The NumbersHow Innovative Sales Orgs Are Turning Data Into Dollars
Where once considered more of an art, the sales profession has evolved into one founded on the methodologies of science and guided with the
belief that every action taken should be one based on fact versus feeling.
Selling By The Numbers
Think of your sales team success as a highway.
Smaller roads funnel in different pieces of information to the main stream.
If there is an unfinished piece of that highway though - the flow of information piles up and is unable to disseminate further.
Selling By The Numbers
Big data, little data, legacy BI systems or CRMs, it doesn’t matter where that data is coming from - unless your entire team is using it in their sales processes - you are trying to fill a balloon that has holes.
Selling By The Numbers
We polled sales team members, at different levels, from our own team to see what reports they relied on to hit their magic number. Some rely on different metrics based on their role, while at times different roles share the same metrics - but use them for very different analysis and action.
Start your journey to building a data driven sales organization here, then download the Selling by the Numbers e-book and get more specifics on how to get there.
Selling By The Numbers
User Adoption
The average business spends
more to attract new customers than it
does to keep old ones.
Yet customer loyalty is, in most cases,
worth the price of a single purchase.
Selling By The Numbers
Sales Executive
6X
10X
Sales Pipeline
The exec is only looking ahead at forecast,
but has to see pipeline to get there.
A sales reps pipeline should be his
forecast.
Selling By The Numbers
Sales Executive
3-4X
Activity
The purpose of activity reporting is to
anticipate results instead of reacting after
the fact.
You’re checking to ensure that the sales
reps are a) doing the right things and
b) doing enough of the right things.
It is NOT to simply "make sure they’re
working". (The Revenue Game)
Selling By The Numbers
Sales Manager
Executive Reporting Metrics
When in the hot seat, it is all about the
benjamins for Sales Managers.
Ensure you have the data you need to
answer any question that may arise by
having a dashboard that allows you to give
a high level overview, or drill down to
granular detail when necessary.
Selling By The Numbers
Sales Manager
Activity
80% of non-routine sales occur after at least
5 follow ups.
92% of sales people give up after four “nos”
8% of sales people are getting 80% of the
sales. (The marketing donut)
Selling By The Numbers
Sales Rep
10%
12%
22%
10% 4%6%
13%
23%
Administration TravelLunch/Breaks Misc.Planning SellingOrder Processing Service
Typical Sales Rep % of Weekly Hours
User Adoption
A survey on “Why customers quit”
found the following:
Selling By The Numbers
Sales Rep
Move away
Develop other friendships
Leave for competitive reasons
Are dissatisfied with the product
Quit because of an attitude of
indifference toward the
customer by the owner,
manager, or some employee.
3%
5%
9%
14%
68%
Each persona has two more metrics each that have been deemed a necessity for building the data driven sale. Make sure you are using them in your sales processes.
Download Selling by the Numbers How Innovative Sales Companies Turn Data to Dollars.
Selling By The Numbers