Data transformation in the sales environment - cat herding in sales prez
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This document discusses challenges with data transformation in sales and marketing and provides recommendations. It notes that currently data is not used effectively across the sales funnel due to siloed activities without integration. It recommends taking a design thinking approach to capture the right data and ask the right questions to gain insights, then implement agile marketing and sales sprints using data to continuously observe, adjust and improve conversion rates.
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Data transformation in the sales environment - cat herding in sales prez
- 1. Data Transformation in Sales & Marketing Barry Magee – Client Analytics and Data Transformation Leader – IBM Digital Sales Europe vs.
- 2. Computing is entering a new cognitive era. Implementing data at the centre of sales What we’d LIKE to have….
- 3. Organisational environments, however, are designed and run with a lot of inefficiencies. Transforming sales and creating value is harder than it sounds What we ACTUALLY have….
- 4. CHALLENGES with Sales & Marketing Prospecting 4 No Management System No course correction => suppressed results Multiple Lists Poor Contact Data Little or No Market Feedback Segments not Clusters Weak or No Reason of Call How do I use this info to open a client call? Little Client Insight data - not client insight provided Who versus Why Lists of CMRs with little else Ease of Use Designed visually to help discovery of insight No Prioritization or Ranking high opportunity cost of execution Time to Research vs Engage sellers spend 30 mins avg researching per prospect Integration Results Productivity Confused Strategy Opportunity Cost of Execution Suppressed Lead Conversion Revenue Left on Table
- 5. Marketing Identified Lead Dev Validated Sales Qualified How to respond? - use data effectively across the funnel to maximum effect and RoI What’s the problem? – activities throughout the funnel are often siloed without integration Why do we care? – shift in activity towards top of the funnel => marketing and good targeting essential Let’s start with what we typically do TODAY Data Not Insight Lack of Integration Tactical not Strategic
- 6. 1. Opportunities not Productivity It’s the TIME spent on the ‘other’ 98% of calls that is seen to kill productivity and is wasted effort 2. Pipeline not Client Feedback We obsess about pipeline we have and not about what we learned about the clients we failed to convince 3. Wins not Market Trends We take the wins and miss the fact that the losses may mean a shift in market direction 1-2% Outbound Lead Conversion In a typical Campaign we focus on the YIELD only not FEEDBACK
- 7. 12.7 M Impressions Paid Search (Google, Bing, Yandex, GDN) 455,043 EU Web Visits 23,267 Registrations 450.9M Impressions 107.8 K Clicks 363.7K Clicks 1,674 Active Users* 82,004 Paid search Web Visits 89,122 Paid social Web Visits Paid Search avg. 2% 0.8% 0.08% 3.3% 424.7 M Impressions Paid Social (Facebook, LinkedIn, Twitter) 377.5K Clicks 0.1% 10.5M Wins = Impressions PM2 9.7K Clicks 0.04% 5.1% Benchmarks: WW: 4.8% Industry: 2.6% Benchmarks: WW: 1.2% 172,37 9Other paid Web Visits 35,838 Organic Web Visits 6,331 Social Web Visits $2.072M New Wins 763 Leads 263 companies 541 companies How Many Visits? Is Conversion Higher Than Target? How Many Leads? Is Conversion Higher Than Target? How Much Revenue? Why are visitors NOT registering? 94.9% Why are so many registered users NOT active on site? 96.3% What’s different about the 46% of active users who become leads? 46% We Ask How Much questions and not enough Why/Why Not questions A
- 8. Industry Description Cloud Count of Oracle HW Linux Data Center Security Big Data Oracle Sun Mainframe Power HP WinTel Automotive 1 1 4 1 Banking 1 Chemicals & Petroleum 1 1 1 Computer Services 2 2 1 4 4 Consumer Products 2 3 6 10 5 Education 1 1 Electronics 1 1 4 6 7 4 1 6 1 5 Energy & Utilities 1 1 1 Financial Markets 1 2 1 2 2 Government, Central/Federal 1 Healthcare 1 5 1 7 2 4 1 2 Industrial Products 2 4 14 25 2 1 2 31 1 13 Insurance 2 1 2 1 Life Sciences 2 3 1 1 Media & Entertainment 1 1 Professional Services 1 1 Retail 1 3 3 Travel & Transportation 2 Wholesale Distribution & Services 5 8 1 12 1 6 Grand Total 2 3 13 41 1 69 11 2 4 86 4 41 WHERE - industries Industrial Products 16% Healthcare 3% Automotive 9% Computer Services 2% Wholesale Distribution & Services 9% Education 2% Chemicals & Petroleum 7% Banking 2% Consumer Products 7% Government, Central/Federal 2% Electronics 7% Government, State/Provincial/Local 2% Travel & Transportation 7% Insurance 2% Life Sciences 6% Financial Markets 1% Retail 5% Telecommunications 1% Media & Entertainment 5% Aerospace & Defense 0% Energy & Utilities 4% Exclusions 0% Professional Services 4% Completed Engagements with Positive Outcomes 2 WHAT - outcomes 6% Oppty Conversion 38% Lead Conversion Execution Status for Prospects 1 Task Status Custs % Not Started 1496 80% In Progress 71 4% Deferred 20 1% Canceled 106 6% Completed 171 9% Grand Total 1864 100% STATUS Outcome % Total Completed 1) Wrong Solution 3% 5 2) Client has no Budget 1% 3 3) Client has no Sign-Off/Approval 3% 5 4) Client has no compelling Need 34% 59 5) Not within current Timeframe 19% 33 6) Client with Competition 6% 10 7) Opportunity already in system 7% 13 8) New Opportunity Created 6% 10 9) Nurturing for future engagement 19% 33 Completed Total 100% 171 IMT Total Benelux 1 DACH 95 France 14 Italy 9 SPGI 15 UKI 37 Grand Total 171 4 WHERE NEXT - Q1 prospects WHY - patterns 3 Lead Indicator % PTB Cloud Service Security 86% PTB Implement Advanced Cloud Infrastructure 83% PTB Big Data 77% Storage 77% PTB Cloud Computing - Virtual Environment Management 74% Power 51% PTB Data Center 29% Oracle Rdbms 20% Linux OS 20% PTB Platform Computing 17% HP X86 14% Oracle Apps 14% Oracle HW 14% Sun Manuf 3% Oracle Services 3% Proportion of Customers with Positive Outcomes per Lead Indicator On Target Off Target Healthcare 100% Banking 50% Government, State/Provincial/Local 100% Electronics 17% Chemicals & Petroleum 100% Wholesale Distribution & Services 0% Retail 75% Professional Services 0% Consumer Products 75% Life Sciences 0% Industrial Products 71% Financial Markets 0% Education 67% Energy & Utilities 0% Travel & Transportation 50% Automotive 0% Computer Services 50% Average 52% On Target Off Target o/w Outcome/Feedback Status for Prospects B Where should we focus? Where should we de-focus? What proved NOT to be significant? What proved to be significant? Where are we engaging effectively? Where did we execute best? shift towards Why/Why Not questions
- 9. Getting strategic means taking a DESIGN THINKING approach to sales • What are the key performance questions? • What is the best process to capture the answers? • Capture the right data to inform performance • Implement an insight-driven transformation process data insight * = ? ? ? ? What would I LIKE to know? ? ? questions +
- 10. Why? - integrated feedback allows for Marketing and Sales SPRINTS observe & adjust observe & adjust observe & adjust observe & adjust 2% 10% Time Lead Conversion 1. create processes to capture the data to answer what you need to know 2. think agile marketing and sales with a data backbone 3. identify > execute > observe > adjust > repeat 4. short sprints of activity allow you course correct more quickly - eliminate waste & maximise conversion
- 11. Which customers are in each campaign? WHY engage? WHO to call? WHAT to offer? WHEN to engage? WHICH resource? HOW to engage? WHERE to adjust? Marketing brand and marketing drive prospects into top of funnel plan execute Lead Dev Either a dedicated bus dev rep or sales rep on bus dev activity plan execute Sales Sellers managing a territory of clients or pipeline of opportunities plan execute Identified Validated Qualified What are the best market segments? What are market pain points or CRAs? What products match market needs? Which digital toolset do I use to engage? What is market feedback and where to pivot? Which campaigns should we run? Which digital toolset do team use? How are teams performing? When do I plan for campaign execution? Which Reps should cover which campaigns? Which clients and Oppties are priorities? Sample Questions Which Reps should cover which accounts? How can I see market pain points? How do I define “best” segment? How do I “fit” product to segment? How do I “fit” product to segment? How should feedback adjust campaigns? How do I “fit” product to prospect? Who do I call next? How do I prioritise all my calls? How do I triage my prospects? How do I know where to adjust my actions? Who do I call next? What are the market trends? What are the market trends? What’s best product for my customer? When is best time to engage my customers? How do I triage my prospects? How do I know where to adjust my actions? How are teams performing?
- 12. Recommended READING Building Better Business Cases for IT Investments Ward, 2007, Cranfield School of Management What Are Key Performance Questions Bernard Marr, API Institute - www.ap- institute.com Big Data: A Revolution That Will Transform How We Live, Work and Think Viktor Mayer-Schonberger and Kenneth Cukier 2013 The Signal and the Noise: The Art and Science of Prediction Nate Silver, 2013 Marketing and Sales Analytics: Proven Techniques and Powerful Applications from Industry Leaders Cesar Brea, 2014 1 2 3 4 6 5 Agile Analytics: A Value-Driven Approach to Business Intelligence and Data Warehousing: Delivering the Promise of Business Intelligence Ken Collier, 2011
Editor's Notes
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