Want to see the future in terms of your sales number? Well, it is not about horoscopes and tea leaves. There is a much more sophisticated approach – it is called predictive sales analytics and it is a key component of SellerNAV®.
Predicting The Impact On Sales
Longer and more unpredictable sales cycles, together with increased market uncertainty make it difficult to forecast your future sales results. Yet using Predictive Sales Analytics there is a lot you can do. In the words of one sales manager it:
‘helps you to look a number of quarters out to understand the implications of sales strategies and plans that you implement today.’
In particular it helps managers to predict (with a high degree of precision) the impact of initiatives, or investments made, including sales training, sales systems or sales process improvement.
SellerNAV® can predict your future sales success based on changes in how you sell, the sales tools you use, or the steps in your sales process.
Asking ‘What If?’ Questions
Using predictive sales analytics SellerNAV makes it possible to ask “what if?” questions, such as;
– What if the number of good leads was increased?
– What if meetings with prospects were improved?
– What if prequalification was increased?
– What if we sold to more senior managers or were positioned as experts rather than consultants?
– What if we did better quotes or proposals and followed them up more effectively?
– What if we developed rather than managed key accounts?
Predictive Sales Analytics can be used to forecast just how big the impact on sales could be if changes to sales skills, sales process or sales systems were made.
The Ultimate Sales Motivation
SellerNAV® presents you with suggested ways of improving your sales process, but it does not stop there. It calculates the impact on sales of any changes you make.
Of course that means that you can calculate the impact on revenue results and commissions too – that is a powerful motivator – it provides a real incentive to take action.
How SellerNAV® does this is a closely guarded secret – the algorithm involved is treated like the famous secret Coca-Cola formula. However the principles involved are clear.
The Principles Involved
Here are the principles behind Predictive Sales Analytics:
1. If you want to understand your past sales results then look to your sales strategies and behaviors. To change those results then change your strategies and behaviors – tackling bottlenecks and gaps, discarding what is not working and seeking out the latest and the best sales techniques.
2. All other things being equal, a measurable improvement in sales skills, systems or process will have a proportionate impact on sales. In particular the more a salesperson or sales organization aligns itself with what the high performers are doing (i.e. best practice) the greater the success it will enjoy.
Both of these principles sound like statements of the obvious but they have exciting implications for those of us who want higher levels of success in the next quarter. They offer the hope of continuous improvement and better results.
The Promise Of Change
If all things remain the same then next quarter will in many ways resemble the last. However if things change (and this is the exciting part) then the pattern of sales is likely to change too. SellerNAV® puts figures on planned initiatives, showing how changes in how you sell can boost your sales results.
If you would like to explore different scenarios regarding the future of your sales organization, including the impact of making changes to your sales skills, process or systems, please contact us.