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Big
Data
for
Sales
An Introduction
to Achieving
Sales Growth
Contents
Introduction   PAGE 3

What Is Big Data?   PAGE 5

Why Is Big Data Important?     PAGE 6

The Potential of Big Data    PAGE 7

Top Challenges in Sales Organizations
and the Solutions PAGE 9

Top Productivity Tips from Experts      PAGE 16

How Big Data Improves Sales     PAGE 20


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                                                  s
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                                                          s
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Rich Analytics: The Pot of
Gold at the End of the Rainbow
Customers and sales reps are at loggerheads. Sales people want to engage customers—clearly to sell
more. Customers don’t want to deal with sales reps, but at the same time, customers are crying for insight
and ideas about their businesses. Are there opportunities to improve? How do we grow? How do we ad-
dress new markets? How do we better serve our customers?                                                      Dave Brock,
                                                                                                              Partners in EXCELLENCE

There’s a lot of data that shows that sales reps who provide these insights and ideas perform significantly
better than those who don’t. So selling has changed. It’s all about a new engagement model. It’s about
providing customers with insight, ideas and solutions. It’s about nurturing the customer over time to help
them understand, implement and execute.

But where do sales reps get these insights and ideas? Sure, there are “general insights or ideas,” but
to me these are the modern equivalent of “Dear Occupant or Current Resident.” What customers want are
insight, ideas and data that are directly relevant to them.

Big Data and rich analytics provide sales and customers this capability. Today, sales makes
guesses: is this the right customer, is this the right time, and will this resonate with them. They may be
wild guesses in the case of prospects, they may be informed guesses based on past experience with them,
but they are guesses.




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                                                                                                                                       s
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                                                                                                                                               s
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Imagine a new world, where the sale rep can intercept the right customer, at the right time, in the right
place, with the right information, and the right offer. Imagine a world where we can identify the customer
that wants and needs to buy now, and we know what they want to buy and why.

This is not just the promise of rich analytics. This is what many leading edge organizations are doing
now! For example, a client of mine, a major Financial Services company has increased their hit rates and
conversions and they now consider their analytic capabilities their competitive advantage. Being able to
identify the right customer, at the right time with the right offer increases the quality of customer engage-
ment so much, that this process is the key to their differentiation.

Big Data and rich analytics, leveraged effectively, change all the rules—and all the results!




Dave Brock,
Partners in EXCELLENCE




                                                                                                                                        4




                                                                                                                                    s
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                                                                                                                                            s
All charts and statistics referenced in this ebook are based on the CSO Insights Report: Impact of Big Data on Sales Performance.
What is Big Data?
                                                                                                              Big Data is defined by 4 Vs
                                                                                                              Volume. The terabytes of data
                                                                                                              that most large companies acquire
Big Data seems to be the new buzzword in the tech circle today. But what is it exactly? And what              regularly are too large to process
does it mean for sales and marketing teams? According to Google Executive Chairman Eric Schmidt,              with conventional means. As
every two days the world produces the amount of data equivalent to all the data from the beginning of         technology penetrates more aspects
civilization up to 2003, or almost five exabytes.                                                             of society, the information generated
                                                                                                              from and about those devices is
This vast ocean of data contains the valuable insights that sales reps need to close sales. There             rapidly expanding.
are numerous details about customers, businesses and prospects available to sales teams, but they must sift   Velocity. Modern businesses may
through the useless data in order to find them, and that is where Big Data comes in.                          place more importance on the time
                                                                                                              characteristic of Big Data than any
Big Data refers to the extremely large data sets, typically in the terabytes to petabytes range, that         other dimension. Acquisition of
organizations acquire and the applications used to analyze and evaluate them. Big Data is the continuous,     timely data is critical to many time
exponential growth in internal and external data gathered from and about customers and prospects that         sensitive operations and provides a
exceed the ability of conventional database management tools to collect, store, search or analyze. Some       competitive advantage.
of the most tangible examples include the terabytes of user data that Facebook acquires or that Walmart
collects about the millions of transactions it conducts hourly.                                               Variety. This information may
                                                                                                              be collected in a number of forms
                                                                                                              including text, audio, video, statistical
                                                                                                              data or sensor information.
                                                                                                              Value. The real impact of Big
                                                                                                              Data stems from the insight that is
                                                                                                              gleaned from the raw data. It's all
                                                                                                              about value.




                                                                                                                                                     5




                                                                                                                                               s
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                                                                                                                                                          s
                                                                                                                                                          s
Why is Big Data Important?
Management of large amounts of information about partner companies, their sales staff,                                 How frequently does an event you weren’t
competitors and market conditions continues to tax even the largest of businesses. To more                              aware of occur in a prospect organization
effectively analyze and process this burgeoning pool of data, new tools, methodologies and analytics are              derail or delay your sale? (e.g., merger, lawsuit,
required. It is no longer enough to collect volumes of information; it is increasingly important for competitive           reduction in force, spending freeze)
businesses to analyze this information quickly, isolate key facts pertinent to business operations and distribute
conclusions and data packets to critical business personnel.

The majority of companies feel that their sales teams are failing to take advantage of sales
opportunities because of a lack of information. Almost 54.6% of respondents to the CSO Insights
study felt their sales teams were sometimes missing some opportunities due to a lack of external or so-
cial information, while almost 9.6% believed they were letting many opportunities for sales pass by very
frequently due to ignorance of external events. With the right Big Data tools, sales personnel could be
                                                                                                                                                        31.2%
                                                                                                                                                           Infrequently
transforming these missed opportunities into huge revenues.

Big Data analytics overcome these problems by employing software and methodology                                    54.6%
advances, including predictive analytics and data mining. These Big Data strategies enable                          Sometimes
companies to uncover hidden patterns or connections and produce operational advice in a timely and
actionable manner. Armed with the latest, most pertinent marketing information, sales staff can make                                                     9.6%
                                                                                                                                                       Very frequently
more effective presentations to clients, integrate key selling points, and make reliable predictions about
client behavior.

Big Data analytics are the cornerstone of producing comprehensive, reliable business                                                                          .5%
strategies. Accurate, up to the minute knowledge about clients and market conditions will separate                                                4.1%         Never
elite companies from the competition. The enhanced power of Big Data allows the identification of                                                Don't Know
new business opportunities, more rapid allocation of resources and the streamlining of sales operations.


                                                                                                                                                                   6




                                                                                                                                                              s
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                                                                                                                                                                         s
The Potential of Big Data
Big Data allows businesses to be more efficient, productive and nimble. These advantages are applicable
                                                                                                                     90%
                                                                                                                    Of sales leaders surveyed
across almost all industries, business sizes and models.                                                         expect to see a significant impact
                                                                                                                     from a Big Data strategy
The primary benefits of Big Data are:




                                                                                                                       16%
	    1. 	Social selling and Sales 2.0 become effective tools. Data that is unprocessed reduces sales
         success. Successful evaluation and analysis allows key personnel to integrate salient data points
         into the decision making process. The rapid analysis of larger blocks of social data allows personnel
         to access customer insights and trigger appropriate responses. This facilitates account targeting,
         access to decision makers and social referencing.
                                                                                                                       Of companies have
	    2.		 nticipate and identify opportunities. As the amount of data collected increases, the detail
         A
                                                                                                                   a Big Data strategy in place
         of minute business operations also sharpens. Minor elements of operations that were deemed
         inconsequential in the past can now be thoroughly examined and modified accordingly.

	    3.		Sales reps can receive real time prospect information.The profile of target consumers can
         now be refined to unprecedented resolution. Improved customer and prospect information can
         facilitate the development and implementation of more customized marketing strategies, products
         or services. Sales reps no longer have to enter meetings with outdated or inaccurate information.

	   4. 	 nhanced product development. The predictive power of Big Data delivers a more accurate
        E
        forecast of client needs and allows the product design and development to be more effective.




                                                                                                                                                      7




                                                                                                                                             s
                                                                                                                                             s

                                                                                                                                                          s
                                                                                                                                                          s
90%
	   5.	Improved metrics of success. The holy grail of business strategy is to make insightful decisions
       that anticipate the developing market. Greater access to more comprehensive models based on
       more information facilitates the decision making process. How sales reps utilize this information
       can be measured against potential winning rates, allowing a definitive analysis of sales strategies.
       Conversion rates and closing rates can be more precisely compared to opportunities that permit              Of sales leaders
       a more expansive understanding of the return on investment in your CRM system.                         have missed opportunities
                                                                                                                 due to info overload
	   6. 	 omprehensive analyses of customers and prospects. The traditional CRM system was
       C
         limited to data gathered by sales personnel. Big Data utilizes information collected from internal



                                                                                                                     15
         data systems, external sources and social media which produce enhance customer insights.

	   7. 	 eliver insights, not raw data. Flooding sales teams with unprocessed data only impedes
       D
       successful sales. Big Data manages data, analyzes it and produces meaningful, actionable insights
       and recommendations that enhance sales effectiveness.
                                                                                                                Reps search as many
                                                                                                                as 15 sources prior to
                                                                                                                picking up the phone




                                                                                                                                             8




                                                                                                                                         s
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Top Challenges within Sales
Organizations and the Solutions                                                                                     Do you and your sales team feel challenged by
                                                                                                                    the amount of data available and time it takes
Too Much Information                                                                                                 to research a prospect before making a call?

Too much information is a burgeoning problem for big business. The influx of data from new
sources like web resources and social networking sites is growing at a geometric rate and threatens to
overwhelm sales reps and conventional data management systems. This translates into overworked staff,
demoralization, lowered sales closings, lost opportunities and diminished revenue.

Information overload can affect sales reps in three ways. Reps faced with too much information
will treat new data superficially, which prevents insights and innovations that are essential to sales success.
                                                                                                                                                24.3%
                                                                                                                                                     Yes, we feel
Secondly, too many choices can overwhelm the decision making process. Too many choices for a client will                                                  very
result in paralysis and downgrade sales productivity. Lastly, option similarity can halt decision making. Pro-                                          challenged
viding stark choices permits differentiation of options and greater decisiveness, while offering a multitude
of choices with subtle or indiscernible differences can undermine the decision making process, paralyze the       57.4%
client and encourage the client to withdraw from the shopping process.                                            Yes, we feel
                                                                                                                   somewhat                            17.4%
                                                                                                                    challenged                        No, we do
Social media is the wedge issue for many companies to invest in Big Data analytics. As the                                                            not feel
users on popular networking sites rise into the hundreds of millions, companies are falling behind in the                                            challenged
                                                                                                                                                       at all
capture of pertinent trends. Salespeople are trying to tap social media sites for insight into consumer
behavior, but are instead drowning in a sea of unmanageable data. Due to the unstructured nature of
social data, many companies lack the storage facilities and corporate infrastructure to properly retain
this information.                                                                                                                                   .9%
                                                                                                                                                   Not sure




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                                                                                                                                                     s
                                                                                                                                                     s

                                                                                                                                                                  s
                                                                                                                                                                  s
44.5%
         Issues with Customer Relationship Management Systems

         Customer Relationship Management (CRM) systems are engineered to streamline the sales
         process by providing actionable information for sales and customer relations personnel to utilize when
         interacting with clients. This system is critical to company brand and reputation as it directly impacts      Of companies stated that
         how clients are managed. With almost 65.6% of sales personnel utilizing CRM systems to uncover key          their CRM system needed to
         information about prospects, a failure in this system can ripple out to the wider market segment.           provide more comprehensive
                                                                                                                           internal information


80
         72.5%
70               65.6%                                                            Where do your sales reps
                         60.6%                                             find critical information on prospects?
60                                                                                   (Check all that apply)

50                                45.0%

40                                        37.6% 37.2%
                                                      35.8%
                                                                    32.6%
30                                                                           26.1%

20                                                                                    15.1%

10
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     So
44.3%
         CRM systems are often poorly utilized. They are marketed for use by sales reps, but they are often
         engineered for sales management. Sales reps spend less than 50% of their day selling because they are
         hampered by the task of putting data into CRM systems. Because sales reps input the minimum amount
         of data to keep managers satisfied, this data is often stale and out of date, and rarely updated due to the
                                                                                                                         Of companies stated that their
         effort and lack of managing oversight. According to a study by Gartner, almost 25% of data in critical
                                                                                                                            CRM system needs to
         business data systems is outdated or inaccurate.
                                                                                                                         provide more comprehensive
                                                                                                                              internal information
                                                        80
             Rate how effective you feel your                                  Rate how effective you feel your
              CRM system is at helping to               70                    CRM system is at helping to provide
               provide you with all of your                                    you with all of your EXTERNAL



                                                                                                                             76%
            INTERNAL company information.               60                          company information.

                                                        50
50                                                       50
                     49.4% 44.3%                        40                                       76.4%
                                                        30                                                              Of respondents reported their
40                                                       40                                                            CRM system also needs to provide
                                                        20                                                               better external information
30                                                       30
                                                        10
                                                         0
                                                         20
20

                                                            10                          15.5%
10
            5.2%                                                                                          6.3%
                                        0%                                       1.7%
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                                                                                                                                                          11




                                                                                                                                                   s
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                                                                                                                                                               s
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Data Integration

CRM systems that effectively integrate internal and external data sets are significantly more likely to
improve sales success. Data integration of external market conditions, customer profiles, client events and           Do you have a single technology system
                                                                                                                  in place that enables sales reps to easily access
impending situations with internal multi-channel information has profound advantages for businesses.              internal and external information on prospects
Data integration produces some significant benefits including:                                                               AND gain insight from it?

	 1.	 Decreasing complexity of data improves performance and reduces management costs.
	
	 2.	Allows greater transparency and access for regulatory agencies.
	
	 3.	 Data security is enhanced by identification of critical data.

	 4.	
     Data is prioritized more easily by its stage in its lifecycle. More outdated information is transferred to
                                                                                                                                                      15.6%
                                                                                                                                                  Yes, info access
     lower priority storage.                                                                                                                        and alerts
	
	 5.	Enhanced organization allows all data sets to be searched easily which improves sales preparation.
	
                                                                                                                  52.3%
                                                                                                                                                        19.7%
                                                                                                                    No
	 6.	Return on Investment is enhanced as key personnel improve productivity and sales representatives
     will generate customer insights that solidify relationships and augment sales closings.                                                              Yes, easy
                                                                                                                                                         info access


According to the CSO Insights report, a mere 19.7% of companies have data management systems that                                       11.9%
integrate external and internal data.                                                                                                   Planning to
                                                                                                                                        implement
                                                                                                                                                         .5%
                                                                                                                                                       Do not know




                                                                                                                                                              12




                                                                                                                                                        s
                                                                                                                                                        s

                                                                                                                                                                     s
                                                                                                                                                                     s
90%
      Only 15.6% of businesses possessed CRM systems that granted sales reps easy access to info and alerted
      them to possible opportunities. While an additional 12% planned to implement this technology, 52.3% were
      not providing sales reps with these critical tools. There is widespread support for unified data management,
      with 90% of respondents voicing the opinion that integration would improve sales time for reps, and sales
      effectiveness, there was a significant gap between support for the technology and actual implementation.
                                                                                                                         Of respondents voiced the
                                                                                                                        opinion that integration would
                                                                                         80                          improve sales time for reps and sales
                                                                                                                                 effectiveness
100                                                                                      70
                                                                          If your sales reps had all the external,
      89.9% 91.2%                                                       internal and social information available



                                                                                                                       52.3%
                                                                                         60
                                                                           in one system that highlighted what
                        81.2%                                          prospect information is most important to
80                                76.6%
                                           73.5%                                         50
                                                                         winning the sale, what impact on sales
                                                                              perfomance would you expect?
                                                    68.3%
                                                                                         40                           Of businesses were not providing
60                                                                                                                       sales reps with critical sales
                                                                                         30                                  tools such as CRM
                                                             42.9%
40                                                                    38.0%              20
                                                                                         10
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                                                                                                                                                       13
   Fi
  Pr




                                                                                                                                                  s
                                                                                                                                                  s

                                                                                                                                                             s
                                                                                                                                                             s
50%
Time Management

Time management plays a key role in sales force effectiveness. With almost 50% of sales personnel
time devoted to CRM input or other administrative duties, improved data capture and analysis methods
are integral to augmenting sales generation. The CSO Insights report found 81.7% of sales teams surveyed           Sales reps' time is devoted
felt very or significantly challenged by the lack of information and the time needed to research prospect           to CRM input or other
information.                                                                                                          administrative duties

Sales suffers from lack of real time data. Even if processes for data management are implemented, in
many cases, they produce results well outside the time window for actionable sales operations. The acqui-



                                                                                                                 81.7%
sition and processing of incorrect, inconsistent or outdated information leads to prolonged wait times while
data management systems analyze information. The CSO Insights study reports that 57.4% of companies
feel somewhat challenged by lack of available data and the time required to research a prospect, while an
additional 24.3% felt very challenged.
                                                                                                                    Of sales teams felt very or
The window of opportunity for businesses to react is narrowing, so sales teams require                         significantly challenged by the lack
enhanced tools to take advantage of them. Opportunity costs lost to information retrieval can result           of information and time needed to
in a company with 1000 workers losing $300,000 a week or $15 million annually. Poor data management               research prospect information
can result in thousands of man-hours wasted weekly by sales personnel who must input and retrieve client
info. This can reduce productivity and increase operating costs due to higher number of employees, work
interruptions and poor decision making.




                                                                                                                                                 14




                                                                                                                                            s
                                                                                                                                            s

                                                                                                                                                      s
                                                                                                                                                      s
Missing Opportunities
                                                                                                                            Do you feel your company has missed
The importance of pertinent, reliable data cannot be underestimated. According to SiriusDecisions,                        opportunities because sales representatives
companies with high quality data have 70% more revenue than those utilizing average quality data. CSO                    cannot effectively leverage all of the internal,
Insights reports that among respondents, 65.1% felt their company has missed some opportunities due to                      external and social inofmation available
                                                                                                                                         on prospects?
ineffective utilization of internal, external and social data about prospects, while 22.9% felt they had missed
many opportunities.

Missed sales opportunities may be caused by the following key issues in data management:

	 1.	
     Poor integration strategy. Integration of data sets without a coherent strategy tries to provide too                                    65.1%
     many things to too many people. All company stakeholders should present needs and integration                                            Yes, some
                                                                                                                                             opportunties
     should focus on those objectives.

	 2.	Garbage input. Various data acquisition mechanisms employ differing standards of data.
      A high quality data management system will grade data and prioritize quality data from
      unimportant information.

	 3.	
     Missing data sources. All data sets that can impact sales and business operations need to be
     integrated. Missing key sources compromises the integrity of analytics.

	 4.	Business evolution. Data management must change as the business model adapts to evolving                                          22.9%
      conditions. Social media is now a rising concern with many companies, but many data management               8.3%                  Yes, many
                                                                                                                                        opportunities
      systems are incompatible with social data.                                                                  No, we haven’t
                                                                                                                   missed any                                  3.7%
                                                                                                                                                              Do not know




                                                                                                                                                                   15




                                                                                                                                                             s
                                                                                                                                                             s

                                                                                                                                                                        s
                                                                                                                                                                        s
Top Sales Productivity
Tips from the Experts
		Avoid “shiny” new distractions. Do you love “shiny” new things... the latest gadgets,
   breakthrough technology, and the 10 newest steps to success? Don’t let your love of
   novelty distract you from those things that will help you achieve your sales success.
   Schedule time on your calendar for essential sales activities like prospecting, then keep
   your appointment.

		Create manageable monthly chunks of leads. If your annual sales goal seems steep,
    try breaking it into manageable monthly chunks of leads you need and new prospects to
    close. Remember to account for the length of your sales cycle. How many months do
    you really have to make sales that will close this year?

		Start the right conversation. Your prospects don't have the time to pay attention to
      what you wish they could buy. So instead of going into the details of your service, mention
      how you were able to solve a similar problem for other clients. You'll open the door to a
      bigger, better conversation.

		—Kendra Lee is a Top 50 Sales  Marketing Influencer for 2012. She is a Prospect Attraction Expert,
                   president of KLA Group, and author of the award-winning book Selling Against the Goal and The Sales
                   Magnet (coming September 2012). Kendra Lee is a top IT Seller, Prospect Attraction Expert and author
                   of the award winning book Selling Against the Goal and president of KLA Group.




                                                                                                                              16




                                                                                                                          s
                                                                                                                          s

                                                                                                                                   s
                                                                                                                                   s
The great seller doesn’t have to convince anyone to buy. The great seller facilitates
  a heart to heart conversation within which a very magical thing occurs. . .the buyer ends up
  convincing the seller to sell!
	—GuruGanesha Khalsa is the founder and CEO of the Sandler Sales Institute of Virginia,
    which is known as one of the world’s premiere high tech sales training organizations.


	If you’ve ever been on the receiving end of a call from a sales rep who has
   nothing more relevant to say than referencing a recent download from the
   company’s website (and who hasn’t?), receiving a call that provides valuable
   information would be a welcome experience. The best way to achieve this outcome
   is to provide easy visibility into integrated data that will help improve whom sales decides
   to call as well as the quality of the conversation. Sales conversations that don’t provide
   reciprocal value for both parties will not move the buying process forward. But manual
   processes for information gathering are time intensive and less effective. The solution to
   both better conversations and sales productivity lies in the quality and usability of infor-
   mation made available to your sales team.
		— CEO of Marketing Interactions, Inc., helps B2B companies with complex sales create
   Ardath Albee,
                    eMarketing strategies that use contagious content platforms to turn prospects into buyers. Ardath wrote
                    the book eMarketing Strategies for the Complex Sale, published by McGraw-Hill, and was recently
                    selected as one of the 50 Most Influential People in Sales and Marketing for 2012.

	
	 top tips? Making decisions with your gut no longer makes sense. There's lots
  My
  of data at your fingertips. Leading indicators are better than lagging indicators. Which
  metrics are you looking at? SFDC works for your sales team. Your sales team does not
  work for SFDC. A sales process without job aides is like a dentist without tools to clean
  teeth. By the time you get the sales appointment, the customer has done lots of research.
	—Greg Alexander serves as CEO of Sales Benchmark Index (SBI), a professional services firm focused
    exclusively on sales force effectiveness. Greg’s recent client list includes: Adobe, Eloqua, Reed Elsevier,
    Emerson Electric, Fairchild Semiconductor, Forrester Research, Integrated Device Technologies,
    Terremark, Ryder, Phase Forward, Safety-Kleen, Genzyme Biomedical, ConocoPhillips, Dow Jones,
    Kronos, and others.

                                                                                                                                  17




                                                                                                                              s
                                                                                                                              s

                                                                                                                                       s
                                                                                                                                       s
Sellers need to ensue that they are in control of their time, not the other way
           around. Critical to that, is to put time aside for Fire Fighting, the need to deal with
           REAL client related emergencies. It is easy to predict the time required, and setting that
           aside, most don't as a result they still need to deal with client emergencies, but don't have
           enough time to complete all the things they need to succeed and deliver revenue goals.
	 Tibor Shanto is a recognized speaker, sales leader, author and sought after trainer. Tibor is the coauthor of
  —
   an award winning book on Trigger Events Selling. A 25-year veteran of B2B sales with companies such
   as Dow Jones, Reuters and others. Called a brilliant sales tactician, Tibor helps organizations execute their
   strategy by using the EDGE Sales Process to create the perfect combination of strategy, tactics, skills to
   ensure execution.

	
	Don’t waste your time making 50 calls to 50 different prospects if there is no
  way you can follow-up and repeat the process with the same 50 prospects at
  least 4 more times. A huge mistake people make when prospecting is they think they’re
  being efficient by calling or emailing a bunch of prospects once—and then they forget
  about them.

	Always have your plan in place before you start. With prospecting it’s better to
  target and concentrate on the best prospects, rather than spraying and praying you’ll
  have positive results. Successful prospecting happens when there is a plan, and when
  you actually follow-up with the prospects you have contacted. In other words, don’t start
  what you can’t finish.
		 Mark Hunter, “The Sales Hunter,” is author of High-Profit Selling: Win the Sale Without Compromising
   —
    on Price. He is a sales expert who speaks to thousands each year on how to increase their sales
    profitability. He was named one of the Top 50 Influencers in Sales by Top Sales World. To receive a free
    weekly sales tip and read his Sales Motivation Blog, visit www.TheSalesHunter.com. You can also follow
    him on Twitter, on Facebook and on Linkedin.




                                                                                                                       18




                                                                                                                   s
                                                                                                                   s

                                                                                                                            s
                                                                                                                            s
Nurture your leads that aren't sales ready. Lead nurturing isn't calling every quarter
   to ask if they are ready to buy, but to become a trusted advisor and provide relevant infor-
   mation to your prospects. In fact, a recent study of business-to-business buyers shows that
   sales people who become trusted advisors and understand the needs of economic buyers
   are 69% more likely to come away with a sale.
		 Brian Carroll is Executive Director of Applied Research at MECLABS and CEO of InTouch, part of the
   —
    MECLABS Group. Author of the popular book, Lead Generation for the Complex Sale (McGraw-Hill),
    Carroll is a leading expert in lead generation and he's profiled and regularly quoted in numerous publications.
    Brian also speaks to 20,000 people a year on improving sales effectiveness and lead generation strategies.
    He’s been profiled and regularly quoted in numerous publications such as BtoB Magazine, Selling Power,
    The Wall Street Journal, Entrepreneur, Target.


	Every 90 minutes take a 15-minute break. Get up and move. Leave your desk. This
  gets your brain going again and increases your productivity.
		                — ill Konrath is an internationally recognized sales strategist and bestselling author. Her newest book,
                   J
                   SNAP Selling, soared to the #1 sales book on Amazon within hours of its release. Her previous book,
                   Selling to Big Companies, has been an Amazon Top 20 Sales Book since 2006. Fortune magazine
                   selected it as one of 8 “must reads” for salespeople along with classics such as How to Win Friends and
                   Influence People.


	Never forget that any opportunity is a people opportunity. Regardless of what
   the data looks like, your solution only works if you customize it to the person in the situa-
   tion. Emotion trumps logic most of the time.
		—Dan Waldschmidt, speaker, writer, and strategist, is at war with conventional business strategy. His Edgy
                    Conversations© have turned hundreds of companies into rock-star businesses and the Wall Street Journal
                    calls his blog one of the Top 7 sales blogs anywhere in the world. He’s on a mission to empower millions of
                    high-performers all over the globe.




                                                                                                                                      19




                                                                                                                                  s
                                                                                                                                  s

                                                                                                                                           s
                                                                                                                                           s
How Big Data Improves Sales
Companies are increasingly aware of the need for improved data acquisition across a
multitude of marketing channels. This data, especially from social media, is rising into the terabyte            Which of the following statements best
range which is too large for conventional CRM systems to manage. In order to optimize customer                   reflects the impact that world class data
interaction with sales personnel, data management systems must be able to:                                        access and real-time insights will have
                                                                                                                             on winning deals?
	        1.	
            Produce cross channel reporting, analytics, media and targeting
	
	       2.	
           Provide end-to-end metrics
	
	       3.	
           Provide real time, actionable insights
	                                                                                                                                         25.7%
	       4.	
           Reduce barriers between different teams, markets and brands                                                                      Sometimes gives
	                                                                                                                                              an edge
	       5.	
           Improve time management

                                                                                                            57.3%
Providing up to the minute information about prospects, their current market situation and                   Gives an
impending changes in the business environment helps prepare sales teams for critical sales                   advantage
                                                                                                                                               15.6%
meetings. The majority of respondents in the CSO study believed that having world-class data and real                                              Wins
time insights would improve sales. A total of 98.6% of respondents felt sales effectiveness would benefit
from Big Data.


                                                                                                                                              1.4%
                                                                                                                                             No impact




                                                                                                                                                     20




                                                                                                                                                s
                                                                                                                                                s

                                                                                                                                                          s
                                                                                                                                                          s
Big Data would improve sales through increasing time devoted to making sales, prospecting
       efficacy, lead conversions, shortened sell cycles and improved forecasting of win rates. In many                               What impact do you think a
       companies the sales division is involved in Big Data strategies, but is relegated to participatory roles rather                Big Data strategy could have
       leading ones.                                                                                                                     on sales effectiveness?

       In spite of a minor role in Big Data strategies, sales teams are expected to benefit from the
       utilization of Big Data. With 49.5% of respondents supporting the view that sales would increase from
       Big Data, while 22% stating the increase in sales would be substantial, the majority of professionals believe
       Big Data would dramatically improve sales win rates.

                                                                                                                                              49.5%
                                                                                                                                                Increase
          0%
                       12%                         11%                          Who is responsible for your
                                                                 29%
                                     14%                                           Big Data strategy?
         39%
                       35%                                                                                               22.0%
                                     29%                                                                                 Noticeable
                                                   67%                                                                    increase
                                                                 57%

         56%
                                                                                                                                                      15.6%
                                                                                                                                                      Minor increase
                       47%           43%

                                                                                                                            7.3%
                                                                            n Leading Role
                                                   17%           14%
                                                                                                                                          5.5%
                                                                            n active participant
                                                                            n not involved                                 Do not know
                                                                                                                                          No impact
                                                                en y
        ut ate




                          g




                                     O




                                                                  les




                                                              tm lg
                       tin




                                                                  t
                                   CI
             s




                                                            ar no
      ec or




                                                                Sa
          ive




                     ke
    Ex orp




                                                         ep h
                   ar




                                                       D Tec
                  M
     rC




                                                        ion
  nio




                                                      at
Se




                                                     m
                                                   or
                                                Inf




                                                                                                                                                                       21




                                                                                                                                                                s
                                                                                                                                                                s

                                                                                                                                                                            s
                                                                                                                                                                            s
About Lattice
Lattice is revolutionizing sales by harnessing Big Data to develop the most informed sales and marketing
professionals, engaging the most receptive customers in the most compelling ways. Our Big Data analytics
platform, salesPRISM, delivers real-time, actionable, account-specific insight directly to sales reps via CRM,
email or mobile devices. Fortune 5000 companies rely on Lattice to generate more pipeline opportunity
and close more deals, improving sales performance by 15 percent or more.

Our ‘secret sauce’ is the application of predictive analytics to extract deep, real-time insight about
customer needs and behavior. salesPRISM Big Data analytics platform makes it possible for inside and
field sales people to ground their every-day actions (i.e., who should I call, what should I say) based on
data-driven evidence.

Hundreds of thousands of sales pros worldwide have already become A players. It’s now time for you
to save time and sell more. Close more deals and meet your quotas every time by using salesPRISM
from Lattice.




For more information, visit www.lattice-engines.com or call 1-877-460-0010.




                                                                                                                     22




                                                                                                                 s
                                                                                                                 s
Big Data for Sales Growth: An Introduction to Achieving Sales Growth with Analytics

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Big Data for Sales Growth: An Introduction to Achieving Sales Growth with Analytics

  • 2. Contents Introduction PAGE 3 What Is Big Data? PAGE 5 Why Is Big Data Important? PAGE 6 The Potential of Big Data PAGE 7 Top Challenges in Sales Organizations and the Solutions PAGE 9 Top Productivity Tips from Experts PAGE 16 How Big Data Improves Sales PAGE 20 2 s s s s
  • 3. Rich Analytics: The Pot of Gold at the End of the Rainbow Customers and sales reps are at loggerheads. Sales people want to engage customers—clearly to sell more. Customers don’t want to deal with sales reps, but at the same time, customers are crying for insight and ideas about their businesses. Are there opportunities to improve? How do we grow? How do we ad- dress new markets? How do we better serve our customers? Dave Brock, Partners in EXCELLENCE There’s a lot of data that shows that sales reps who provide these insights and ideas perform significantly better than those who don’t. So selling has changed. It’s all about a new engagement model. It’s about providing customers with insight, ideas and solutions. It’s about nurturing the customer over time to help them understand, implement and execute. But where do sales reps get these insights and ideas? Sure, there are “general insights or ideas,” but to me these are the modern equivalent of “Dear Occupant or Current Resident.” What customers want are insight, ideas and data that are directly relevant to them. Big Data and rich analytics provide sales and customers this capability. Today, sales makes guesses: is this the right customer, is this the right time, and will this resonate with them. They may be wild guesses in the case of prospects, they may be informed guesses based on past experience with them, but they are guesses. 3 s s s s
  • 4. Imagine a new world, where the sale rep can intercept the right customer, at the right time, in the right place, with the right information, and the right offer. Imagine a world where we can identify the customer that wants and needs to buy now, and we know what they want to buy and why. This is not just the promise of rich analytics. This is what many leading edge organizations are doing now! For example, a client of mine, a major Financial Services company has increased their hit rates and conversions and they now consider their analytic capabilities their competitive advantage. Being able to identify the right customer, at the right time with the right offer increases the quality of customer engage- ment so much, that this process is the key to their differentiation. Big Data and rich analytics, leveraged effectively, change all the rules—and all the results! Dave Brock, Partners in EXCELLENCE 4 s s s s All charts and statistics referenced in this ebook are based on the CSO Insights Report: Impact of Big Data on Sales Performance.
  • 5. What is Big Data? Big Data is defined by 4 Vs Volume. The terabytes of data that most large companies acquire Big Data seems to be the new buzzword in the tech circle today. But what is it exactly? And what regularly are too large to process does it mean for sales and marketing teams? According to Google Executive Chairman Eric Schmidt, with conventional means. As every two days the world produces the amount of data equivalent to all the data from the beginning of technology penetrates more aspects civilization up to 2003, or almost five exabytes. of society, the information generated from and about those devices is This vast ocean of data contains the valuable insights that sales reps need to close sales. There rapidly expanding. are numerous details about customers, businesses and prospects available to sales teams, but they must sift Velocity. Modern businesses may through the useless data in order to find them, and that is where Big Data comes in. place more importance on the time characteristic of Big Data than any Big Data refers to the extremely large data sets, typically in the terabytes to petabytes range, that other dimension. Acquisition of organizations acquire and the applications used to analyze and evaluate them. Big Data is the continuous, timely data is critical to many time exponential growth in internal and external data gathered from and about customers and prospects that sensitive operations and provides a exceed the ability of conventional database management tools to collect, store, search or analyze. Some competitive advantage. of the most tangible examples include the terabytes of user data that Facebook acquires or that Walmart collects about the millions of transactions it conducts hourly. Variety. This information may be collected in a number of forms including text, audio, video, statistical data or sensor information. Value. The real impact of Big Data stems from the insight that is gleaned from the raw data. It's all about value. 5 s s s s
  • 6. Why is Big Data Important? Management of large amounts of information about partner companies, their sales staff, How frequently does an event you weren’t competitors and market conditions continues to tax even the largest of businesses. To more aware of occur in a prospect organization effectively analyze and process this burgeoning pool of data, new tools, methodologies and analytics are derail or delay your sale? (e.g., merger, lawsuit, required. It is no longer enough to collect volumes of information; it is increasingly important for competitive reduction in force, spending freeze) businesses to analyze this information quickly, isolate key facts pertinent to business operations and distribute conclusions and data packets to critical business personnel. The majority of companies feel that their sales teams are failing to take advantage of sales opportunities because of a lack of information. Almost 54.6% of respondents to the CSO Insights study felt their sales teams were sometimes missing some opportunities due to a lack of external or so- cial information, while almost 9.6% believed they were letting many opportunities for sales pass by very frequently due to ignorance of external events. With the right Big Data tools, sales personnel could be 31.2% Infrequently transforming these missed opportunities into huge revenues. Big Data analytics overcome these problems by employing software and methodology 54.6% advances, including predictive analytics and data mining. These Big Data strategies enable Sometimes companies to uncover hidden patterns or connections and produce operational advice in a timely and actionable manner. Armed with the latest, most pertinent marketing information, sales staff can make 9.6% Very frequently more effective presentations to clients, integrate key selling points, and make reliable predictions about client behavior. Big Data analytics are the cornerstone of producing comprehensive, reliable business .5% strategies. Accurate, up to the minute knowledge about clients and market conditions will separate 4.1% Never elite companies from the competition. The enhanced power of Big Data allows the identification of Don't Know new business opportunities, more rapid allocation of resources and the streamlining of sales operations. 6 s s s s
  • 7. The Potential of Big Data Big Data allows businesses to be more efficient, productive and nimble. These advantages are applicable 90% Of sales leaders surveyed across almost all industries, business sizes and models. expect to see a significant impact from a Big Data strategy The primary benefits of Big Data are: 16% 1. Social selling and Sales 2.0 become effective tools. Data that is unprocessed reduces sales success. Successful evaluation and analysis allows key personnel to integrate salient data points into the decision making process. The rapid analysis of larger blocks of social data allows personnel to access customer insights and trigger appropriate responses. This facilitates account targeting, access to decision makers and social referencing. Of companies have 2. nticipate and identify opportunities. As the amount of data collected increases, the detail A a Big Data strategy in place of minute business operations also sharpens. Minor elements of operations that were deemed inconsequential in the past can now be thoroughly examined and modified accordingly. 3. Sales reps can receive real time prospect information.The profile of target consumers can now be refined to unprecedented resolution. Improved customer and prospect information can facilitate the development and implementation of more customized marketing strategies, products or services. Sales reps no longer have to enter meetings with outdated or inaccurate information. 4. nhanced product development. The predictive power of Big Data delivers a more accurate E forecast of client needs and allows the product design and development to be more effective. 7 s s s s
  • 8. 90% 5. Improved metrics of success. The holy grail of business strategy is to make insightful decisions that anticipate the developing market. Greater access to more comprehensive models based on more information facilitates the decision making process. How sales reps utilize this information can be measured against potential winning rates, allowing a definitive analysis of sales strategies. Conversion rates and closing rates can be more precisely compared to opportunities that permit Of sales leaders a more expansive understanding of the return on investment in your CRM system. have missed opportunities due to info overload 6. omprehensive analyses of customers and prospects. The traditional CRM system was C limited to data gathered by sales personnel. Big Data utilizes information collected from internal 15 data systems, external sources and social media which produce enhance customer insights. 7. eliver insights, not raw data. Flooding sales teams with unprocessed data only impedes D successful sales. Big Data manages data, analyzes it and produces meaningful, actionable insights and recommendations that enhance sales effectiveness. Reps search as many as 15 sources prior to picking up the phone 8 s s s s
  • 9. Top Challenges within Sales Organizations and the Solutions Do you and your sales team feel challenged by the amount of data available and time it takes Too Much Information to research a prospect before making a call? Too much information is a burgeoning problem for big business. The influx of data from new sources like web resources and social networking sites is growing at a geometric rate and threatens to overwhelm sales reps and conventional data management systems. This translates into overworked staff, demoralization, lowered sales closings, lost opportunities and diminished revenue. Information overload can affect sales reps in three ways. Reps faced with too much information will treat new data superficially, which prevents insights and innovations that are essential to sales success. 24.3% Yes, we feel Secondly, too many choices can overwhelm the decision making process. Too many choices for a client will very result in paralysis and downgrade sales productivity. Lastly, option similarity can halt decision making. Pro- challenged viding stark choices permits differentiation of options and greater decisiveness, while offering a multitude of choices with subtle or indiscernible differences can undermine the decision making process, paralyze the 57.4% client and encourage the client to withdraw from the shopping process. Yes, we feel somewhat 17.4% challenged No, we do Social media is the wedge issue for many companies to invest in Big Data analytics. As the not feel users on popular networking sites rise into the hundreds of millions, companies are falling behind in the challenged at all capture of pertinent trends. Salespeople are trying to tap social media sites for insight into consumer behavior, but are instead drowning in a sea of unmanageable data. Due to the unstructured nature of social data, many companies lack the storage facilities and corporate infrastructure to properly retain this information. .9% Not sure 9 s s s s
  • 10. 44.5% Issues with Customer Relationship Management Systems Customer Relationship Management (CRM) systems are engineered to streamline the sales process by providing actionable information for sales and customer relations personnel to utilize when interacting with clients. This system is critical to company brand and reputation as it directly impacts Of companies stated that how clients are managed. With almost 65.6% of sales personnel utilizing CRM systems to uncover key their CRM system needed to information about prospects, a failure in this system can ripple out to the wider market segment. provide more comprehensive internal information 80 72.5% 70 65.6% Where do your sales reps 60.6% find critical information on prospects? 60 (Check all that apply) 50 45.0% 40 37.6% 37.2% 35.8% 32.6% 30 26.1% 20 15.1% 10 1.8% 1.4% 0 ro ss En ch ide on s es ts m ble w m er ine es G ine no en ste as d ar th ste ov ti try rs s ila Sit up Pr rma ng em ’t K ele an l Se ip us O Sy va Sy hE rsh t B ng sR at tA on o ua wn M nf rki St be rne arc D es an No CR ro sI wo ial Pr em te M eg Se es nc o et M In sin m Inf lN na Ho Bu 10 Fi cia s s s s So
  • 11. 44.3% CRM systems are often poorly utilized. They are marketed for use by sales reps, but they are often engineered for sales management. Sales reps spend less than 50% of their day selling because they are hampered by the task of putting data into CRM systems. Because sales reps input the minimum amount of data to keep managers satisfied, this data is often stale and out of date, and rarely updated due to the Of companies stated that their effort and lack of managing oversight. According to a study by Gartner, almost 25% of data in critical CRM system needs to business data systems is outdated or inaccurate. provide more comprehensive internal information 80 Rate how effective you feel your Rate how effective you feel your CRM system is at helping to 70 CRM system is at helping to provide provide you with all of your you with all of your EXTERNAL 76% INTERNAL company information. 60 company information. 50 50 50 49.4% 44.3% 40 76.4% 30 Of respondents reported their 40 40 CRM system also needs to provide 20 better external information 30 30 10 0 20 20 10 15.5% 10 5.2% 6.3% 0% 1.7% 0 0 t t ns ns ns w ns w en en no no tio tio tio tio em em tK tK ta ta cta cta ov ov ec ec No No pe pe pr pr xp xp Ex Ex m m o o sE sE D D sI sI ts ts ed ed ed ed ee ee ce ce Ne Ne M M Ex Ex 11 s s s s
  • 12. Data Integration CRM systems that effectively integrate internal and external data sets are significantly more likely to improve sales success. Data integration of external market conditions, customer profiles, client events and Do you have a single technology system in place that enables sales reps to easily access impending situations with internal multi-channel information has profound advantages for businesses. internal and external information on prospects Data integration produces some significant benefits including: AND gain insight from it? 1. Decreasing complexity of data improves performance and reduces management costs. 2. Allows greater transparency and access for regulatory agencies. 3. Data security is enhanced by identification of critical data. 4. Data is prioritized more easily by its stage in its lifecycle. More outdated information is transferred to 15.6% Yes, info access lower priority storage. and alerts 5. Enhanced organization allows all data sets to be searched easily which improves sales preparation. 52.3% 19.7% No 6. Return on Investment is enhanced as key personnel improve productivity and sales representatives will generate customer insights that solidify relationships and augment sales closings. Yes, easy info access According to the CSO Insights report, a mere 19.7% of companies have data management systems that 11.9% integrate external and internal data. Planning to implement .5% Do not know 12 s s s s
  • 13. 90% Only 15.6% of businesses possessed CRM systems that granted sales reps easy access to info and alerted them to possible opportunities. While an additional 12% planned to implement this technology, 52.3% were not providing sales reps with these critical tools. There is widespread support for unified data management, with 90% of respondents voicing the opinion that integration would improve sales time for reps, and sales effectiveness, there was a significant gap between support for the technology and actual implementation. Of respondents voiced the opinion that integration would 80 improve sales time for reps and sales effectiveness 100 70 If your sales reps had all the external, 89.9% 91.2% internal and social information available 52.3% 60 in one system that highlighted what 81.2% prospect information is most important to 80 76.6% 73.5% 50 winning the sale, what impact on sales perfomance would you expect? 68.3% 40 Of businesses were not providing 60 sales reps with critical sales 30 tools such as CRM 42.9% 40 38.0% 20 10 20 0 0 ize llin e at on s at ng ls s es Se im cle ea f ea D o n R ati g es n R eti lS es en to p T D Cy st tes ls sio nt ea sio e tiv er t M on er se ca a ed Re eD ell ec nR nv Pre ins rS nv irs Eff ot s ag ev ale Fo i W Co F arg te Co o er ng D fS to re ll t or M Av cti Sh Ca o ad % pe Le rst os 13 Fi Pr s s s s
  • 14. 50% Time Management Time management plays a key role in sales force effectiveness. With almost 50% of sales personnel time devoted to CRM input or other administrative duties, improved data capture and analysis methods are integral to augmenting sales generation. The CSO Insights report found 81.7% of sales teams surveyed Sales reps' time is devoted felt very or significantly challenged by the lack of information and the time needed to research prospect to CRM input or other information. administrative duties Sales suffers from lack of real time data. Even if processes for data management are implemented, in many cases, they produce results well outside the time window for actionable sales operations. The acqui- 81.7% sition and processing of incorrect, inconsistent or outdated information leads to prolonged wait times while data management systems analyze information. The CSO Insights study reports that 57.4% of companies feel somewhat challenged by lack of available data and the time required to research a prospect, while an additional 24.3% felt very challenged. Of sales teams felt very or The window of opportunity for businesses to react is narrowing, so sales teams require significantly challenged by the lack enhanced tools to take advantage of them. Opportunity costs lost to information retrieval can result of information and time needed to in a company with 1000 workers losing $300,000 a week or $15 million annually. Poor data management research prospect information can result in thousands of man-hours wasted weekly by sales personnel who must input and retrieve client info. This can reduce productivity and increase operating costs due to higher number of employees, work interruptions and poor decision making. 14 s s s s
  • 15. Missing Opportunities Do you feel your company has missed The importance of pertinent, reliable data cannot be underestimated. According to SiriusDecisions, opportunities because sales representatives companies with high quality data have 70% more revenue than those utilizing average quality data. CSO cannot effectively leverage all of the internal, Insights reports that among respondents, 65.1% felt their company has missed some opportunities due to external and social inofmation available on prospects? ineffective utilization of internal, external and social data about prospects, while 22.9% felt they had missed many opportunities. Missed sales opportunities may be caused by the following key issues in data management: 1. Poor integration strategy. Integration of data sets without a coherent strategy tries to provide too 65.1% many things to too many people. All company stakeholders should present needs and integration Yes, some opportunties should focus on those objectives. 2. Garbage input. Various data acquisition mechanisms employ differing standards of data. A high quality data management system will grade data and prioritize quality data from unimportant information. 3. Missing data sources. All data sets that can impact sales and business operations need to be integrated. Missing key sources compromises the integrity of analytics. 4. Business evolution. Data management must change as the business model adapts to evolving 22.9% conditions. Social media is now a rising concern with many companies, but many data management 8.3% Yes, many opportunities systems are incompatible with social data. No, we haven’t missed any 3.7% Do not know 15 s s s s
  • 16. Top Sales Productivity Tips from the Experts Avoid “shiny” new distractions. Do you love “shiny” new things... the latest gadgets, breakthrough technology, and the 10 newest steps to success? Don’t let your love of novelty distract you from those things that will help you achieve your sales success. Schedule time on your calendar for essential sales activities like prospecting, then keep your appointment. Create manageable monthly chunks of leads. If your annual sales goal seems steep, try breaking it into manageable monthly chunks of leads you need and new prospects to close. Remember to account for the length of your sales cycle. How many months do you really have to make sales that will close this year? Start the right conversation. Your prospects don't have the time to pay attention to what you wish they could buy. So instead of going into the details of your service, mention how you were able to solve a similar problem for other clients. You'll open the door to a bigger, better conversation. —Kendra Lee is a Top 50 Sales Marketing Influencer for 2012. She is a Prospect Attraction Expert, president of KLA Group, and author of the award-winning book Selling Against the Goal and The Sales Magnet (coming September 2012). Kendra Lee is a top IT Seller, Prospect Attraction Expert and author of the award winning book Selling Against the Goal and president of KLA Group. 16 s s s s
  • 17. The great seller doesn’t have to convince anyone to buy. The great seller facilitates a heart to heart conversation within which a very magical thing occurs. . .the buyer ends up convincing the seller to sell! —GuruGanesha Khalsa is the founder and CEO of the Sandler Sales Institute of Virginia, which is known as one of the world’s premiere high tech sales training organizations. If you’ve ever been on the receiving end of a call from a sales rep who has nothing more relevant to say than referencing a recent download from the company’s website (and who hasn’t?), receiving a call that provides valuable information would be a welcome experience. The best way to achieve this outcome is to provide easy visibility into integrated data that will help improve whom sales decides to call as well as the quality of the conversation. Sales conversations that don’t provide reciprocal value for both parties will not move the buying process forward. But manual processes for information gathering are time intensive and less effective. The solution to both better conversations and sales productivity lies in the quality and usability of infor- mation made available to your sales team. — CEO of Marketing Interactions, Inc., helps B2B companies with complex sales create Ardath Albee, eMarketing strategies that use contagious content platforms to turn prospects into buyers. Ardath wrote the book eMarketing Strategies for the Complex Sale, published by McGraw-Hill, and was recently selected as one of the 50 Most Influential People in Sales and Marketing for 2012. top tips? Making decisions with your gut no longer makes sense. There's lots My of data at your fingertips. Leading indicators are better than lagging indicators. Which metrics are you looking at? SFDC works for your sales team. Your sales team does not work for SFDC. A sales process without job aides is like a dentist without tools to clean teeth. By the time you get the sales appointment, the customer has done lots of research. —Greg Alexander serves as CEO of Sales Benchmark Index (SBI), a professional services firm focused exclusively on sales force effectiveness. Greg’s recent client list includes: Adobe, Eloqua, Reed Elsevier, Emerson Electric, Fairchild Semiconductor, Forrester Research, Integrated Device Technologies, Terremark, Ryder, Phase Forward, Safety-Kleen, Genzyme Biomedical, ConocoPhillips, Dow Jones, Kronos, and others. 17 s s s s
  • 18. Sellers need to ensue that they are in control of their time, not the other way around. Critical to that, is to put time aside for Fire Fighting, the need to deal with REAL client related emergencies. It is easy to predict the time required, and setting that aside, most don't as a result they still need to deal with client emergencies, but don't have enough time to complete all the things they need to succeed and deliver revenue goals. Tibor Shanto is a recognized speaker, sales leader, author and sought after trainer. Tibor is the coauthor of — an award winning book on Trigger Events Selling. A 25-year veteran of B2B sales with companies such as Dow Jones, Reuters and others. Called a brilliant sales tactician, Tibor helps organizations execute their strategy by using the EDGE Sales Process to create the perfect combination of strategy, tactics, skills to ensure execution. Don’t waste your time making 50 calls to 50 different prospects if there is no way you can follow-up and repeat the process with the same 50 prospects at least 4 more times. A huge mistake people make when prospecting is they think they’re being efficient by calling or emailing a bunch of prospects once—and then they forget about them. Always have your plan in place before you start. With prospecting it’s better to target and concentrate on the best prospects, rather than spraying and praying you’ll have positive results. Successful prospecting happens when there is a plan, and when you actually follow-up with the prospects you have contacted. In other words, don’t start what you can’t finish. Mark Hunter, “The Sales Hunter,” is author of High-Profit Selling: Win the Sale Without Compromising — on Price. He is a sales expert who speaks to thousands each year on how to increase their sales profitability. He was named one of the Top 50 Influencers in Sales by Top Sales World. To receive a free weekly sales tip and read his Sales Motivation Blog, visit www.TheSalesHunter.com. You can also follow him on Twitter, on Facebook and on Linkedin. 18 s s s s
  • 19. Nurture your leads that aren't sales ready. Lead nurturing isn't calling every quarter to ask if they are ready to buy, but to become a trusted advisor and provide relevant infor- mation to your prospects. In fact, a recent study of business-to-business buyers shows that sales people who become trusted advisors and understand the needs of economic buyers are 69% more likely to come away with a sale. Brian Carroll is Executive Director of Applied Research at MECLABS and CEO of InTouch, part of the — MECLABS Group. Author of the popular book, Lead Generation for the Complex Sale (McGraw-Hill), Carroll is a leading expert in lead generation and he's profiled and regularly quoted in numerous publications. Brian also speaks to 20,000 people a year on improving sales effectiveness and lead generation strategies. He’s been profiled and regularly quoted in numerous publications such as BtoB Magazine, Selling Power, The Wall Street Journal, Entrepreneur, Target. Every 90 minutes take a 15-minute break. Get up and move. Leave your desk. This gets your brain going again and increases your productivity. — ill Konrath is an internationally recognized sales strategist and bestselling author. Her newest book, J SNAP Selling, soared to the #1 sales book on Amazon within hours of its release. Her previous book, Selling to Big Companies, has been an Amazon Top 20 Sales Book since 2006. Fortune magazine selected it as one of 8 “must reads” for salespeople along with classics such as How to Win Friends and Influence People. Never forget that any opportunity is a people opportunity. Regardless of what the data looks like, your solution only works if you customize it to the person in the situa- tion. Emotion trumps logic most of the time. —Dan Waldschmidt, speaker, writer, and strategist, is at war with conventional business strategy. His Edgy Conversations© have turned hundreds of companies into rock-star businesses and the Wall Street Journal calls his blog one of the Top 7 sales blogs anywhere in the world. He’s on a mission to empower millions of high-performers all over the globe. 19 s s s s
  • 20. How Big Data Improves Sales Companies are increasingly aware of the need for improved data acquisition across a multitude of marketing channels. This data, especially from social media, is rising into the terabyte Which of the following statements best range which is too large for conventional CRM systems to manage. In order to optimize customer reflects the impact that world class data interaction with sales personnel, data management systems must be able to: access and real-time insights will have on winning deals? 1. Produce cross channel reporting, analytics, media and targeting 2. Provide end-to-end metrics 3. Provide real time, actionable insights 25.7% 4. Reduce barriers between different teams, markets and brands Sometimes gives an edge 5. Improve time management 57.3% Providing up to the minute information about prospects, their current market situation and Gives an impending changes in the business environment helps prepare sales teams for critical sales advantage 15.6% meetings. The majority of respondents in the CSO study believed that having world-class data and real Wins time insights would improve sales. A total of 98.6% of respondents felt sales effectiveness would benefit from Big Data. 1.4% No impact 20 s s s s
  • 21. Big Data would improve sales through increasing time devoted to making sales, prospecting efficacy, lead conversions, shortened sell cycles and improved forecasting of win rates. In many What impact do you think a companies the sales division is involved in Big Data strategies, but is relegated to participatory roles rather Big Data strategy could have leading ones. on sales effectiveness? In spite of a minor role in Big Data strategies, sales teams are expected to benefit from the utilization of Big Data. With 49.5% of respondents supporting the view that sales would increase from Big Data, while 22% stating the increase in sales would be substantial, the majority of professionals believe Big Data would dramatically improve sales win rates. 49.5% Increase 0% 12% 11% Who is responsible for your 29% 14% Big Data strategy? 39% 35% 22.0% 29% Noticeable 67% increase 57% 56% 15.6% Minor increase 47% 43% 7.3% n Leading Role 17% 14% 5.5% n active participant n not involved Do not know No impact en y ut ate g O les tm lg tin t CI s ar no ec or Sa ive ke Ex orp ep h ar D Tec M rC ion nio at Se m or Inf 21 s s s s
  • 22. About Lattice Lattice is revolutionizing sales by harnessing Big Data to develop the most informed sales and marketing professionals, engaging the most receptive customers in the most compelling ways. Our Big Data analytics platform, salesPRISM, delivers real-time, actionable, account-specific insight directly to sales reps via CRM, email or mobile devices. Fortune 5000 companies rely on Lattice to generate more pipeline opportunity and close more deals, improving sales performance by 15 percent or more. Our ‘secret sauce’ is the application of predictive analytics to extract deep, real-time insight about customer needs and behavior. salesPRISM Big Data analytics platform makes it possible for inside and field sales people to ground their every-day actions (i.e., who should I call, what should I say) based on data-driven evidence. Hundreds of thousands of sales pros worldwide have already become A players. It’s now time for you to save time and sell more. Close more deals and meet your quotas every time by using salesPRISM from Lattice. For more information, visit www.lattice-engines.com or call 1-877-460-0010. 22 s s