Pipeline Management Best Practices
•
13 gefällt mir•6,995 views
The number of forecasted deals that are won are at an all time low. See how pipeline management informed by analytics can improve your bottom line revenue. Knowing what's changed is critical to making your number.
Empfohlen
Weitere ähnliche Inhalte
Was ist angesagt?
Was ist angesagt? (20)
Ähnlich wie Pipeline Management Best Practices
Ähnlich wie Pipeline Management Best Practices (20)
Kürzlich hochgeladen
Kürzlich hochgeladen (20)
Pipeline Management Best Practices
- 1. Proven Sales Pipeline Management and Forecasting Best Practices for Sales Managers Tracey Kaufman Cloud9 Analytics Sr. Director of Customer Experience August 2010 Cloud9 2010 1
- 2. What We’ll Cover • How pipeline management informed by Analytics can improve your bottom line revenue • Why knowing "what's changed" in your sales pipeline is critical to making your number • A step-by-step process for running successful weekly sales meetings informed by Analytics • How to become an expert at 1:1 coaching using sales pipeline data Cloud9 2010 2
- 3. The PROBLEM Only 51.5% of Reps Only 78.5% of Plan Only 23% of Firms have a Are Making Quota Attainment is Accomplished Dynamic Sales Mgmt. Process 29.9% 31.3% 27.2% No Decision Lost Selling w/ Reps 21.6% Coaching Reps 14.7% Pipe / Forecast MGMT 44.8% 20.3% Internal Meeting & Won 15.8% Management Tasks Other (Train / Travel) Only 44.8% of Forecasted 50% of Time Spent on Deals Are Won Revenue GEN Cloud9 2010 Source: CSO Insights: May 2010
- 4. Which MEANS You’re missing out on REVENUE & CRM isn’t ENOUGH Supports business NOT management processes 4.0% 20.1% Other Use Sales Analytics 30.4% Use Spreadsheets 45.5% Use Core CRM System 45% use CRM to Manage Sales Forecasts Cloud9 2010
- 5. The GOAL INCREASE Bottom Line Revenue & Predictability Improve Pipeline Velocity: (# of deals) x (win conversion rate) x (avg. deal size) Average selling time in days Cloud9 2010
- 6. Example of VELOCITY Let’s Calculate Monthly % CHANGE in Velocity Or Variance–Pipeline Acceleration / Deceleration 6 Cloud9 2010
- 7. The SOLUTION BETTER Pipeline Management Detect & Correct vs Measure & Punish Activity x Proficiency = Sales Cloud9 2010
- 8. Use ANALYTICS to: Be PROACTIVE • Determine which forecasted deals have changed and how • Determine which forecasted deals are slipping and why • Determine which reps need extra coaching/mentoring • Coach reps on how to prioritize which accounts to pursue • Assist reps in qualifying out low quality opportunities early 8 Cloud9 2010
- 9. Pipeline Management Best Practices 1 Implement a DYNAMIC Pipeline Mgmt. Process 3 Leverage Pipeline ANALYTICS 2 Escalate CRM Visibility ADOPTION for Cloud9 2010
- 10. Running a Weekly Meeting Ask YOURSELF: • Where are we now–are we on track? • Where are we going–do we have sufficient coverage to make our number? • What’s changed–how does our progress compare to other periods (in the past)? Cloud9 2010
- 11. Performance and Coverage Compare current performance against quota and forecast Drill into details Cloud9 2010
- 12. What’s Changed Review pipeline changes (won, lost, adjusted), uncover exceptions, identify risks and develop next steps Cloud9 2010
- 13. Weekly Meeting Example Do Q/Q comparison, identify risk areas & make course corrections to refocus resources Cloud9 2010
- 14. 1:1 Coaching Example Look at last quarter’s results: • Are your reps entering a high % of deals late in the quarter or doing post quarter cleanup? • What % of their committed deals were won, lost and deferred, adjusted? For the current quarter: • Is there a high percentage of expired deals? • Are there a lot of stale deals that haven’t been managed? Should they be closed? • Are Activities being updated regularly? Cloud9 2010
- 15. Results You Can Expect VELOCITY & REVENUE Improvements Potential of 10% increase in “Adaptable companies with a revenue via improved sales dynamic sales process reported pipeline/funnel management 30% higher forecasted deal 2007 McKinsey study conversion rates than average” 2010 CSO Insights Report Cloud9 2010
- 16. C9 Customer Success Stories Increased forecasted deal closure by 5% resulting in $400K per quarter Returned 80 hours per quarter in selling time back to Sales Management Forecast accuracy improved by 50% resulting in better resource allocation 16 Cloud9 2010
- 17. 3 Things You Can Do Today 1 Measure conversion rate, Average deal size & Sale cycle days your business # Deals, Win the key pipeline velocity drivers for 2 Review pipeline regularly, Management Process to improve velocity drivers Adjust your Sales Proactively identify risks & Drive desired behaviors 3 Use Analytics toagainst goals and forecast,meetings andchanges, Do comparisons Review performance inform your weekly Review pipeline 1:1 coaching sessions Cloud9 2010
- 18. Cloud9 Pipeline Accelerator Cloud9 2010 18
- 19. Thank You Cloud9 2010 19