The five lessons B2B sales leaders should learn to make analytics work

McKinsey

Data-driven growth comes from much more than just being good at data. Marketing & Sales Insights

Data 82

Meet the missing ingredient in successful sales transformations: Science

McKinsey

Data and analytics, combined with a personalized approach to performance management, are helping B2B sales execs inculcate best practices and significantly improve growth. Marketing & Sales Insights

B2B 114

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Unlocking the power of data in sales

McKinsey

Analytics plays an increasingly important role in B2B sales—and high-performing sales organizations take it to a new level to differentiate themselves from the also-rans. Our insights

B2B 87

How to unlock marketing-led growth: Data, creativity, and credibility

McKinsey

Marketing has been on the front lines of the digital revolution, but the landscape has become much more complicated, requiring a focus on growth, data, and new modes of creativity. Marketing & Sales Insights

Megadeals: How data and analytics can dramatically boost success

McKinsey

Megadeals are tricky and so rare that companies think there’s not enough data to be useful. But the data isn’t as scarce as they think. Marketing & Sales Insights

Data 114

Top 7 Traits of Successful Sales Managers

LSA Global

Wouldn’t it be nice to know the traits of successful sales managers? Sales managers have an awesome responsibility. The Job of a Sales Manager. The Top Seven Traits of Successful Sales Managers. The top performing sales managers are: 1. The Pressure to Succeed.

Sales 55

Run B2B Sales on Data, Not Hunches

Harvard Business

They view the process of collecting direct and more frequent feedback from these stakeholders as the first step in supporting sales representatives, account managers, operations teams and service agents in solving customers’ problems and earning more of their business. Methodically capturing, cataloging, and analyzing individual conversations on a large scale allows companies to turn anecdote into statistically robust, reliable data. Sales & Marketing Sales Digital Article

B2B 44

A Look into Microsoft’s Data-Driven Approach to Improving Sales

Harvard Business

Companies are beginning to utilize their employees’ behavioral data — generally known as people analytics — to better understand and improve their sales operations , with strong results. Freeing data from silos and cross-team collaboration was key to our success.

“How does a Sales CRM fit in? “

Kai Davis

Should you use your CRM to track your sales leads? Should you use it to track non-sales leads? One significant advantage of using a sales CRM (like Pipedrive: [link] , [link] ? Kai, this tool sounds great, but I’ve got none of my data in there. Lead Tracking.

Sales 52

eBook: Big Data, Analytics, and the Future of Marketing & Sales

McKinsey

The goldmine of data available today represents a turning point for marketing and sales leaders. Our Insights

eBook 52

How AI Is Changing Sales

Harvard Business

Based on research for my book Sales Ex Machina: How Artificial Intelligence is Changing the World of Selling , here are five specific areas where AI algorithms can be leveraged to help your business grow by helping your sales team sell more: Price Optimization: Knowing what discount, if any, to give a client is always a tricky situation. Forecasting: Sales managers face the daunting challenge of trying to predict where their team’s total sales numbers will fall each quarter.

Sales 44

Managing a Sales Funnel for Your Consulting Business

The Clever Consultant

Create and managing a sales funnel. We spoke to our friend Brian Sullivan, Vice President of Global Accounts at Sandler Training , who offered us this advice: View Your Sales Funnel as a Live Tool. Your sales funnel is a living entity that needs regular attention. To make it easy, make sure you have a simple vehicle in place that enables you to collect details about prospects and where exactly they are in your sales funnel.

Sales 121

“Blue Collar” Sales and Selling

CaseInterview.com

I find the prejudice against working in sales incredibly ironic. It’s sales too. There are only two unanswered questions that remain: 1) Whether you like the idea or not, will you accept and embrace the idea that you are in everyday sales situations more than you realize? 2) Will you decide to improve your sales skills, or not? To be notified of the release, and for future articles on improving your sales skills, just complete the form below.

Sales 60

Exorcising the Big Data "Demons" in Marketing and Sales

1 to 1

Big Data can be rather scary. With vast amounts of structured and unstructured data flowing into the organization each day, analyzing and utilizing this information can be quite daunting.

Sales 46

3 Things High Performing Sales Organizations Do Differently

LSA Global

High Performing Sales Organizations vs Standard Sales Team Performance. According to a recent CSO research report, only 46% of sales reps are meeting quota, and sales teams are losing ground on 94% of the key sales activities most associated with high sales performance.

Sales 36

December Retail Sales Negative; Other Economic Data Horrid

MishTalk

Despite glowing reports of last minute Christmas sales, none of which I believed, December retail sales are best described as awful. Retail sales proved disappointing in December, down 0.1 Ex-auto sales also fell 0.1 The Beige Book yesterday warned us about weak apparel sales which in this report fell a very steep 0.9 Total sales rose only 2.1 Excluding motor vehicles, sales rose 0.9 But sales at non-store retailers rose only 0.3

The Data Behind the Sale

1 to 1

Sales departments face many challenges today. Finding qualified leads, the need to win more proposals, getting a detailed view into the pipeline, and obtaining a cross-channel view of prospects and customers are just few of the obstacles that prevent sales teams from effectively closing leads. Customer Experience Sales Effectiveness datadrveinselling leadgeneration revana saleseffectiveness

Sales 34

Make Data a Cornerstone of Your Team

Harvard Business

There’s an ever-increasing demand for people who can leverage software to analyze, understand, and make day-to-day business decisions based on data. Data Science is now a quickly growing discipline , giving people with any kind of data expertise a serious competitive edge.

Data 58

7 Creative Ways to Boost E-commerce Sales

Tom Spencer

Here are 7 e-commerce marketing techniques to boost your online sales. Segment customer data including those that rated satisfaction highly (8-10). Minimizing these costs can help e-commerce businesses retain customers during the checkout process and ultimately increase sales.

Sales 78

Let’s talk about sales growth

McKinsey

High-growth companies have differentiated themselves in sales through analytics, big data, and a focus on the changing technology landscape. Our insights

Sales 87

Are Sales Incentives Becoming Obsolete?

Harvard Business

To motivate, manage, and reward B2B salespeople, many companies use sales incentive plans that link large commissions or bonuses to individual results metrics, such as territory quota achievement. As digital channels continue to reduce and redefine salespeople’s role in customer buying, these traditional sales incentive plans are becoming less effective at driving sales outcomes. The right sales incentive plan creates a double win. Sales Digital Article

Sales 51

Power Sales Performance by Harnessing Analytics - SPONSOR CONTENT FROM TABLEAU

Harvard Business

By Brian Selby, Senior Vice President, Worldwide Sales Operations, Tableau Software. How often is your sales team making important decisions based on gut feel? Are your sales resources allocated properly to drive growth? Historically, sales has been labeled an art.

Sales 36

Breaking Down Data Silos

Harvard Business

Predictive analytics, data science, artificial intelligence, bots. The waves of advances in the application of data keep on coming. The biggest obstacle to using advanced data analysis isn’t skill base or technology; it’s plain old access to the data. With one caveat — they can’t get their hands on the data in the first place. There is a cost to using data. First, you can’t cleanly separate the data from its intended use.

Data 47

Using Digital Exhaust to Improve Sales

Harvard Business

Customer relationship management software revolutionized how companies manage their sales pipelines. It also allowed organizations to communicate and coordinate more effectively across large sales account teams. VoloMetrix pulls the data anonymously and aggregates it.

Sales 58

You Can Make Your Sales Data a Lot Better with a Little Discipline

Harvard Business

billion industry by 2021, but its solutions are only as good as the data behind it. IBM determined that inaccurate data took a $3.1 That’s why decision makers require spot-on data and efficient, streamlined systems to maintain it. Too many sales teams (and other departments) enter data by hand but create fresh entries instead of searching their systems and updating existing accounts, which muddies their data sets. Putting Data to Work.

The Kinds of Data Scientist

Harvard Business

In 2012, HBR dubbed data scientist “the sexiest job of the 21st century ” It is also, arguably, the vaguest. To hire the right people for the right roles, it’s important to distinguish between different types of data scientist. A more detailed look at data roles.

Data 58

Using Analytics to Align Sales and Marketing Teams

Harvard Business

The manager peruses that company’s website and requests more information by entering data about her needs through a webform. The inside salesperson hasn’t seen the webform data, so the manager must repeat much of the information she had already entered. gremlin/Getty Images.

Sales 58

How to Downsize Your Sales Force

Harvard Business

Many industries have had to downsize sales forces. There are several reasons for recent sales force job cuts: Shifting market dynamics are one cause, including changing customer needs, customer consolidation, new buying channels, and slowing market growth. sales reps following an industry-wide downsizing trend. At the same time, sales of simpler products were moving to lower-cost channels. sales jobs from its high-end craft beer division. Sales Digital Article

Sales 47

What Sales Teams Should Do to Prepare for the Next Recession

Harvard Business

In the 2001 recession, total sales for the S&P 500 declined by 9% from its pre-recession peak to its trough 18 months later—almost a year after the recession officially ended. Zero-base sales capacity. Amplify low-cost sales channels. Photographer is my life./Getty

Sales 58

2 Techniques to Create Realistic Sales Targets that Drive High Performance

LSA Global

Sales Leadership Techniques To Tell if You Have Realistic Sales Targets. Sales strategy accounts for 31% of the difference between high and low performing sales teams. Setting realistic sales targets that drive higher performance is no easy task.

Sales 42

To Get Your Team to Use Data, Demystify It

Harvard Business

For some of your team members, the idea of using data to inform decision-making can feel intimidating. Maybe they like to “go with their gut,” or simply dread the idea of wading through a ton of data. That’s not mathematical genius; it’s just clever use of data.

Data 58

Sales Reps, Stop Asking Leading Questions

Harvard Business

Most executives recognize a need for their sales team to act as consultants and sell “solutions.” ” But many CEOs would be shocked at how poorly their sales teams execute on the strategy of consultative selling. ” So the sales force sits down and makes a list of questions designed to extract information from their prospective clients, in a kind of interrogation. I’ve sat through many sales calls like this, and trust me it isn’t pretty.

Sales 51

What Subscription Business Models Mean for Sales Teams

Harvard Business

Across the technology industry, subscription sales models are growing in popularity. The trend is having a big impact on sales forces. As ongoing account management activities consumed more and more sales time, new customer acquisition slowed down–and the company’s revenue growth began slowing, too. The Pros and Cons of a Single Sales Role. Having two sales roles (one for account acquisition and another for account management) has several advantages.

Sales 56

Jenny Dearborn Data Driven Strategies

LSA Global

Jenny Dearborn Data Driven: How Performance Analytics Delivers Extraordinary Sales Results. Congratulations to LSA Client, Jenny Dearborn, the Executive Vice President, Human Resources at SAP, for publishing her book: Data Driven: How Performance Analytics Delivers Extraordinary Sales Results. Data Can Be Your Most Valuable Asset as a Leader. Jenny thoughtfully discusses how data can be your most valuable asset as a leader.

More Universities Need to Teach Sales

Harvard Business

For decades, Sales and Academia remained worlds apart and the business world did fine. But Sales is changing, Academia is out of touch, and this is bad for business and the academy. So a school could legitimately prepare a student for a business career while omitting training in sales.

Sales 58

To Regain Consumers’ Trust, Marketers Need Transparent Data Practices

Harvard Business

Over the past decade, businesses have built marketing technology stacks to collect and organize data with the hope of more effectively targeting consumers. Driven by the promise of loyal customers and greater revenue, it didn’t take long for marketers to start using consumers’ personal data without their knowledge or consent. Data-Driven Marketing. In order to execute on this level of personalization, companies must collect large amounts of data.

Data 52

Shifting to a Data-Driven Sales Culture

1 to 1

Old school salespeople like to pride themselves on their ability to close the deal through their interpersonal skills and sales savvy. But increasingly, forward-thinking sales leaders and their teams are relying on customer and prospect data along with the use of analytics to fine-tune their sales strategies and take the next best action with each customer or prospect.