I talk about metrics and numbers regularly with sales leaders and sales teams. As we get more and more analytics and data management in organizations, I am finding that many sales people and sales leaders are getting caught up in either being paralyzed with all the data or are getting lost in the minutia of the data.
Here is my advice. What are the strategies and 3 – 5-year plans of your clients. Based on that what are you doing to support these plans with your product or service. Now that you know that; what are the metrics you can use to support those goals. You want three or four key metrics that can prove the value of what you are providing for the client.
Here is the key to being successful. Your client has to agree that those numbers are important for their success. You can’t create a dashboard that you think is important. It has to be agreed upon by both of you. If it is YOY, YTD, ROI, Economic Value to Customer, etc., now you need to make sure your data is accurate and up to date. This becomes a lot of work in your organization and your clients. However, my experience with this process is that you begin to provide the appropriate value for your client and you get to know the numbers better than your client and begin to create a trust and relationship based on your value and work on these metrics.
If you get paralyzed by the numbers, you are constantly trying to figure out what the numbers mean and you fall farther and farther behind in knowing what is working and what is not. More importantly when asked about your success or failures there are reports and spreadsheets presented with no connection or understanding of what the data means.
What are the numbers/metrics you need to show your Economic Value to your customer? What are you doing to get accurate and appropriate numbers? How are you presenting these numbers in a manner that is true to the facts and value being created? If you do this and fine tune this report on a monthly or quarterly basis you will be further ahead than 80% of sales people. Most importantly you will be able to predict trends and your forecast in an accurate manner. And you will have created a strong relationship with your customers and the contacts you deal with on a regular basis.
Author: Bill Sayers
Bill has been praised for his leadership, common-sense approach and ability to inspire sales people to new levels of success. His easy manner and strong public-speaking skills make him an engaging facilitator. Bill connects with senior executives and sales professionals alike, as he shares his real-life experiences and provides the appropriate tools and strategies for success in today’s business world.