How to coach sales with data and insights?
There’s a simple mantra which underlies sales performance coaching: “Information should lead to insights, insights should lead to action, action should prompt change and at last, you will get results.”
By removing any ambiguity against which data points lead to results, along with behavioural patterns, this can provide clear visibility to coaches and the team on where marginal gains can be found to improve overall performance.
With all this noise and piles of data in hand, what should a sales manager focus on and how can they use this data?
Information is clearly everywhere, and it can turn into a double edge sword very quickly. As a leader it is key to be clear on a few simple data points that the team can execute a plan against. If the data points are not clear, then test assumption in a safe environment and not with the team.
Every time a business pivots or make the wrong bet the sales team feel like rabbits in headlights and trust is lost. This also impacts their ability to achieve much greater results and avoids peaks and troughs in results.
We currently have the capacity to catch scores of information that we truly couldn’t previously; once you have these data points the next steps to drive action.
Within a data driven world how do you ensure your sales leaders know how to best use this data? Are your managers trained to coach behind these key data points? Do salespeople have access to this data to become more independent? What is the risk of in action?
Before transforming information into insights and training the team, it is important to understand which key behaviours will drive the greatest results. The next step is removing ambiguity within the data points so coaches can clearly demonstrate what training/ support is required and the impact of improvement. Once both the coach and the learner are aligned this helps achieve buy-in along with the adoption of any change of process.
The above set’s up a team with good coaching foundations and trust, the next part is all about the results. Creating clear reporting should that allows all concerned to see what is working and what is not, if things don’t work, change, test and take action.
Data is King! Use your CRM to capture these data points along with the process to drive the best results. To ensure the coaching is working according to the plan, set up dashboard, notifications, reports and healthy fun competition and share results with each other!
Information, Insight, Action.
For instance, consider the health of a sales pipeline. Do you have enough sales generating from your existing pipeline to hit your quarterly or even yearly targets? Keep in mind – information, insight, action.
Along these lines, you may structure your information with the goal that you can perceive how much total revenue exists at each stage all the while, apply a weighting dependent on win probability, and after that infer a potential yield. With information of your typical sale cycle length and all the data points, the information begins to give… insights! The estimations allude to whether you are in a situation to hit your targets or not.
Let’s say, you have the information and insights. Now, what about the actions that needs to be performed?
All things considered, in case you’re on track to finish off the period on a positive note and you’re secure with your objective, you may coach actions around your sellers expecting to upsell or strategically pitch in existing deals. You may coach actions around them attempting to pull in deals that were relied upon to close the following quarter.
Now, how can you look at the health of an individual deal?
For instance, information can help disclose the normal number of days it ordinarily takes for a standard opportunity to travel through a sales process. At that point, you can follow the exact number of days a deal lives at each stage. Once more, the information begins to give you what? Of course, the insights! It could demonstrate if a deal has invested an unnecessary measure of energy at one phase. That is, it may be stuck.
However, what about the action now? Considering the stage of a stalled opportunity, specific activities need to be improved. You may need to reposition tangible value for the prospect, guarantee that they even have a business issue revealed, or gain access to the decision makers. You get the drill.
Moreover, comparative information may demonstrate to you that one of your sales reps who has had six deals in the course of the most recent seven months, continues to stop making progress in a similar stage. Let’s discuss the insight.
Here, it may really be due to lack of skills. The action? Give them specific training for skills. For example, if you’re constantly getting stuck near the need’s definition stage, maybe they need consultative sales conversation training.
The fact is, information is king! There’s a major “assuming” however, if it’s organized in a way so that it gives you valuable insights, at that point, insight can lead you to specific coaching advice and actions. At last, the desired behaviour occurs and obviously, business results will pursue.
Spend more time coaching and let the CRM drive user behaviours to capture key data points.
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