Qstream and Sales & Marketing Management Webinar: Next-Generation KPIs for the Data-Driven Sales Manager
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The document discusses the importance of sales analytics and next-generation KPIs for effective sales management, emphasizing the need to leverage data for predicting sales trends and improving performance. It highlights the significance of training for front-line sales managers and the impact of mobile tools on sales productivity and analytics. Furthermore, it predicts a shift towards actionable insights in sales analytics, focusing on enhancing coaching and management effectiveness.
Qstream and Sales & Marketing Management Webinar: Next-Generation KPIs for the Data-Driven Sales Manager
- 1. Next-Generation KPIs for the Data-Driven Sales Manager
- 4. Sales Art Becomes Science (Take me to your leader)
- 5. A system that helps sales management: Why Sales Analytics Matter to ensure revenue performance Identify and predict sales trends and outcomes Understand where sales people can improve
- 6. Survey Is data driving your sales leadership decisions?
- 7. 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
- 8. Building Your ‘Sales GPS’ • Metrics are quantitative measures • Analytics – Predictive: Historical data – Adaptive: Real-time data
- 9. Revenue Performance SalesForce 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)
- 10. Tackling the Speed of Change
- 11. Qstream Sales Readiness Survey, April 2014 One-third of Reps Are Not Ready to Win But which ones are they?
- 12. CRM: Your Crystal Ball?
- 13. Do we just analyze the past… or can we impact the future?
- 14. Answer: To Improve the Data Can We Manage Data?
- 15. Uncovering the Reality of Our Reports
- 16. 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 Level Territory Coverage New/Existing CustomersCall Outcomes Customer Retention Deal Size Prospect Type New/Existing Product Call Volume Up/Cross-Selling Cracking the Sales Management Code, 2012
- 17. 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
- 18. #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
- 19. #2: Cause-and-Effect Cracking the Sales Management Code, 2012
- 20. Example Revenue Market 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
- 21. #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
- 22. Mobile as a Force Multiplier
- 23. 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
- 24. Manager Dashboards Improve Coaching Effectiveness by 55%
- 25. …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 third Middle third Highest third Annual firm sales goal achievement High-performing organizations provide 15-20% more coaching time than low performing companies.
- 26. Track Improvements Over Time
- 28. Some Predictions… 1. Sales forces will adopt a ‘less is more’ approach to data and reporting 2. Front-line sales managers will (finally) become the focus of training groups 3. Mobile productivity and predictive analytics tools will become ubiquitous 4. Sales analytics will become more actionable 5. More heads of sales will get “C” in their title