Data Driven Transformation for Sales - SMART Territory Management
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This document discusses implementing a data-driven territory management strategy to improve client engagement and sales effectiveness. It proposes identifying client needs through data analytics, creating "Client on a Page" profiles, and selecting optimal clients to contact using a "SMART" system. An initial pilot showed increased lead conversion rates, win rates, and revenue from the SMART-selected clients compared to rep-selected clients. The document recommends fully integrating the approach into systems and processes to maximize adoption and business benefits.
Data Driven Transformation for Sales - SMART Territory Management
- 1. © 2015 IBM Corporation 72%of Territory with identifiable Client Needs What’s the Business Challenge?....Executive Summary 1 Symptom : A lot of smaller customers exist without extensive ‘relationship cover’ - sales reluctant to invest much time without seeing adequate return. Sellers often see small customers as non-strategic, don’t invest too much time, only engage close to renewal event and don’t sell the stack creating a self-fulfilling prophesy. URGENCY Cause : Sellers don’t know how to effectively manage the territory to maximum return on investment where time and effort are at a premium. We keep reverting to our known cohort of key clients and don’t know where to start fishing in the bigger sea of volume business. small customers remain small
- 2. © 2015 IBM Corporation What’s the value proposition? 2 Objective to create an ALTERNATE engagement cycle with Clients outside normal reasons of call Need Territory Management approach with data to mine for upsell and drive sellers to Clients at right time want to V
- 3. © 2015 IBM Corporation 3 Territory Management CLIENT based OFFERING based Two Territory Management strategies
- 4. © 2015 IBM Corporation Where to start on the question of client engagement – Who, What and Why? 4 Identify with sellers all Sights, Sounds and Smells that would indicate a potential customer need and we’ll go get it… Contract Data Pipeline Intelligence Attach Intelligence Install Base Data Technical Upsell Digital 360° view of customer Market Intelligence Competitor Intelligence Account Intelligence Everything We Know about Client… 2 key deliverables Actionable ‘Next Best Customer’ selection 1 2
- 5. © 2015 IBM Corporation How – helping build a visual sales narrative focused on client needs 5 ?? There’s a LOT of STG activity on this account at the moment and none of it has any maintenance attached! Is there a tech refresh happening? Seems to be Power + Storage…must investigate. 1 There’s been no TSS NetNew on this customer in last 6 months….. No renewal currently this Quarter and the 178 boxes under cover with us are worth $19k per annum but new kit Oppties suggest scope to expand. 2 Odd. They have most of their assets covered on a Direct contract but some isolated boxes under a contract with a Business Partner. Why? Must investigate….. ? 3 Hmm…a lot of boxes on low levels of only 9 to 5 cover. Seems odd given that they have mission critical applications for Wimbledon. Must ask. ? 4 We lost a TSS Oppty to get more business out of this customer a Year Ago. I should call to see how they’re getting on with the service. 5 No multi-vendor that we can see but WinBack suggests there’s more we could do that haven’t captured yet. Must investigate….. 6
- 6. © 2015 IBM Corporation How – helping sellers optimize client selection in an actionable way ?? Improved Client Selection Challenge is ALWAYS about client selection and the often competing and conflicting multiple directions being given to sellers...... SMART yields higher than average Oppty with higher Win Rates compared to Rep self- sourced Oppties.
- 7. © 2015 IBM Corporation Benefits Framework for SMART Analytics Programme Time Process Effectiveness Client Engagement Sales Effectiveness Financial What – are the results from current approach? 7 524 SMART Customer Calls 2H 1.5/Rep/Wk - 13 SMART calls per Rep Lower than target Call Rates 51% of Targeted Clients called Terr Penetration increase 20% to 25% SMART also used with 165 Renewals 2 20% Lead conversion vs 4% LDR avg 56% WinRate vs 50% NetNew avg $23k Avg winvs $21k standard netnew 80% of New Opps no Renewal in Qtr > developing new engagement cycle > spreading forecast risk 3 4 $1.7m NetNew Pipe • o/w $1,100k Won • o/w $530k Lost $295k NetNew In Qtr Revenue > o/w $175k Won > o/w $120k Lost 5 Sellers spending > 3 Hrs per day on Pre-Sales Admin Sellers spending 1’20” per day on Customer Research 1 1095 Customers On A Page created Production Capacity 11 CoaPs/Rep/Wk 93% clients have some upsell hooks 2H process allowed Sales Mgrs prioritise 3,925 – 34% of clients deemed 2H focus *Hard Numbers ONLY considering Oppties that were created AFTER seller was provided with a Client On A Page. Pre-existing Oppties EXCLUDED Seller Time Customer Contact Platform DevelopmentData Quality GamificationExpanded client views Improved Client Selection Drive Sales URGENCY Admin tasks bottleneck capacity to make more calls SMART yields higher than average Oppty with higher Win Rates compared to Rep self-sourced Oppties.
- 8. © 2015 IBM Corporation 8 Which resource do I use? Engage iBS Engage LDRs Engage Mkting Which is the BEST SALES RESOURCE to use for a client set? 4 Am I talking to the right PERSON at the right ORGANISATION? Who do I call next? 1 Implement data-driven approach to client selection integrated into SalesConnect. When do I call? Where do I get the TIME TO CALL and when is best to ENGAGE? Time Ahead Time Saved 3 What do I talk about? What do we KNOW about client and what’s the right TOPIC to lead with? Implement 360 degree view of both client organisation and top personas 2 5 How do I provide my customer with RIGHT INFO via the RIGHT MEDIUM? How should I engage client? Ensure targeted local market enablement from marketing and offerings to support client cohorts. 3x renewals-led calls Client Engagements Calls Converted Pipeline Created Wins Closed Wins Value Data-driven, Persona-based system of engagement to drive optimal territory management triage via Marketing, Social, LDRs and iBS to increase penetration and revenue How do I expect to perform? data-driven revenue $ How does Digital ‘data-driven engagement’ change the status quo? 5
- 9. © 2015 IBM Corporation 9 PROGRAMME set-up What other deliverables must be achieved in order to maximise end-user adoption. How READY are we against the key pillars that will deliver ADOPTION 4 Are we tackling the REAL PROBLEM and identified all OBSTACLES PROBLEM discovery 1 Implement user-centric design programme to ensure solution fits requirements. PERSONA discovery Who are key CUSTOMER PROFILES and what NEEDS have they Using seller workshops develop key persona ‘scripts’ to leverage artefacts. 3DATA discovery What are the key DATA SETS and how do users RANK IMPORTANCE of each Conduct data audit, seller ranking and analytics to develop ranking system 2 What are the transformation stages to move from As-Is to embedded Territory Management? BENEFIT map 5 What are TARGETS over baseline performance for key benefits? Conduct full business benefit assessment and determine targets against key items. MANAGMENT system 6 How will we use management system to IMPLEMENT EXECUTION Determine how SMART-suite management system will be used to drive engagement Client Engagements Calls Converted Pipeline Created Wins Closed Wins Value Data-driven, Persona-based system of engagement to drive optimal territory management triage via Marketing, Social, LDRs and iBS to increase penetration and revenue How do I expect to perform? data-driven revenue $