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The W5 of Sales Analytics
- Added: May, 12th 2011
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- What
- Wher
- Why
- When
- The of Sales Analytics
- Historically This is Where BI Has Failed Copyright © 2008 LucidEra – All rights reserved Historically this is where BI has run into challenges… Business? Different Departments… IT? Different Languages…
- The Traditional Business Intelligence Approach Copyright © 2008 LucidEra – All rights reserved On-Premise Pre-deployment IT planning/design costs Upfront, perpetual license fee Additional hardware/database investments Additional SI/consulting costs Extensive customization required Limited availability beyond firewall Batch processing, standardized reporting Limited adoption, unable to measure
- The SaaS Approach Copyright © 2008 LucidEra – All rights reserved
- LucidEra really simplifies the overhead required of IT when rolling out a BI solution.
- So Who is Sales Analytics For? Copyright © 2008 LucidEra – All rights reserved
- Business intelligence is less about technology than about creativity, culture, and whether people view information as a critical asset .
- Copyright © 2008 LucidEra – All rights reserved Service Requests Telesales Calls Billings Bookings Backlogs Pipeline Campaigns Service Contracts D&B Prospects Quota Forecast Expenses Product Configurations For most companies data is scattered… Leads
- Copyright © 2008 LucidEra – All rights reserved Service Requests Telesales Calls Billings Bookings Backlogs Pipeline Service Contracts D&B Prospects Quota Forecast Expenses Product Configurations For most companies data is scattered… Campaigns Leads SFA
- Copyright © 2008 LucidEra – All rights reserved Service Requests Telesales Calls Bookings Pipeline Service Contracts D&B Prospects Quota Forecast Expenses Product Configurations For most companies data is scattered… Campaigns Leads ERP SFA Billings Backlogs
- Copyright © 2008 LucidEra – All rights reserved Telesales Calls Bookings Pipeline D&B Prospects Quota Forecast Expenses Product Configurations For most companies data is scattered… Service Contracts Service Requests Campaigns Leads ERP SFA Support Billings Backlogs
- Copyright © 2008 LucidEra – All rights reserved Telesales Calls Bookings Pipeline D&B Prospects Quota Forecast Expenses Product Configurations For most companies data is scattered… Service Contracts Service Requests Campaigns Leads Expenses ERP SFA Support Marketing Billings Backlogs
- Copyright © 2008 LucidEra – All rights reserved Telesales Calls Bookings Pipeline D&B Prospects Quota Forecast Product Configurations For most companies data is scattered… Service Contracts Service Requests Campaigns Leads Expenses ERP SFA Support Marketing Excel Billings Backlogs
- Copyright © 2008 LucidEra – All rights reserved Telesales Calls Bookings Pipeline Quota Forecast Product Configurations For most companies data is scattered… Service Contracts Service Requests Campaigns Leads Expenses ERP SFA Support Marketing Excel Billings D&B Prospects D&B Backlogs
- The Answer: Focused Analytic Applications Copyright © 2007 LucidEra – All rights reserved Pipeline Velocity ERP Support Marketing Excel D&B SFA Sales Performance Lead Conversion Order Management
- Copyright © 2008 LucidEra – All rights reserved
- Sales Pipeline Metrics to Consider
- New Pipeline
- % of pipeline that is new for this period
- % of new pipeline that has closed within the same quarter historically
- Pipeline Size and Shape
- Conversion rates (Lead ? Opportunity, etc.)
- Sales cycle times (Avg days to close by rep, industry, etc.)
- Pipeline Velocity
- # and % of opportunities that shrunk or grew
- % of opportunities that moved to next stage
- Customer and Competitor Analysis
- New versus repeat customers
- Win rates by competitor
- Historically This is Where BI Has Failed Copyright © 2008 LucidEra – All rights reserved
- An analytical competitor is an organization that uses analytics extensively and systematically to out-think and out-execute the competition.
- Copyright © 2008 LucidEra – All rights reserved Managers Have Metrics Managers Do Not Have Metrics Managers exceed expectations with metrics… In the projects we've benchmarked over the past few years, we often find that CRM systems give sales managers numbers -- but what they want is insight . ” “
- Copyright © 2008 LucidEra – All rights reserved And sales rep turnover is lower!
- Historically This is Where? BI Has Failed
- Not knowing if your pipeline is based on fact, fiction, or fantasy
- Wondering if your sales reps are chasing business don’t want
- Making important investment decisions based on gut-feel and anecdotes, instead of data
- Historically This is Where BI Has Failed Copyright © 2008 LucidEra – All rights reserved Or get started with a Pipeline Healthcheck today! LucidEra has taken the complexity out of analytics so that more people and companies can take advantage of analytical insights. Denis Pombriant, Beagle Research ” “
- LucidEra Luminaries Copyright © 2007 LucidEra – All rights reserved
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