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- Intelligent Sales Strategy: Part I of IV – EFFICIENCY using Tableau
- Marketing is Measuring: Part III – Focus on Specific Market Segments
- Marketing is Measuring: Part II – Leads Generation, Cultivation
- Marketing is Measuring: Part I – Email Marketing Case Study
- 3SG Case Study: Advanced Architectural Stone
When sales process is clearly defined, and tools are in place to measure and also visualize & interpret data for insights into sales strategy, it can bring a number of benefits.
This blog post describes first of the four advantages I will develop in this blog posts series – EFFICIENCY.
Example here shows information about the sales process defined in the Nutshell CRM. The image below shows screen capture of sales funnel defined for one of our customers. Each stage of the sales funnel in this example uses confidence interval carefully defined to reflect progress in the sales process for individual leads. While working closely with the sales team members, we defined list of associated activities for each stage of the funnel.
Defining sales path or sales stages is very critical to improving the closing rate.
The CRM system can be used to track progress of an individual lead. Image below shows sales funnel status and update options for a lead that the sales person in charge of the lead can manage.
We export the data from the CRM periodically and import it in Tableau. Custom dashboards in Tableau shows summary of all leads for each sales person. Image below shows Tableau dashboard with LEADS INFO DETAIL for one sales rep.
With similar dashboards for each sales person, the leadership team gets to see and understand progress and activity level for each sales person over time.
Sales team members also have a compact summary with list of leads for each confidence interval; it makes it easier for them to identify next step for each lead and streamline their follow up activities saving a lot of time while boosting their productivity significantly.
We created email templates in the CRM for each stage (or confidence interval) of the sales funnel. With this, the sales reps can send customized, pre-defined message in matter of clicks directly from the system. This makes sales strategy execution even more EFFICIENT for sales team.
Stay tuned on my other three blog posts in this series on the Intelligent Sales Strategy – PRODUCTIVITY, INSIGHTS and STRATEGY.
You are looking to grow market penetration for a specific product. How well is it working?
You want to develop content that would engage your prospects effectively? How do you discover potential changes that can bring optimum bang for the buck?
For a manufacturer or services company focused on specialized technology and processes in the architecture and construction industry, there is potential to attract customers nationwide, or even internationally.
How do you realize that potential?
Email marketing can be a powerful tool to cultivate relationships with prospects.
Keys to success with it:
- Quality educational content
- Right messaging to connect with prospects
- Feedback loop to measure, learn and refine over time.
Read more »
We here at 3SG have a fun, productive work relationship with Advanced Architectural Stone (AAS).
We started with a mission to answer two questions:
- Where are the opportunities for the company to grow?
- How to pursue those opportunities?
The 3SG team learned the business operations of AAS and combined that information with its knowledge of the architecture, construction and manufacturing industries.
Probably not …
Where is the art and genius of painting?
Think of your social media and other external communication channels as canvas for your business.
What paints the pictures of your offering, relationships and credibility on this canvas?
IT IS WHAT YOU SAY.
Looking for a low hanging fruit for your business?
Go no further than your current customers and pool of prospects.
Are you maximizing their potential?
The shortest distance from point A to point B is a straight line.
Why does this make a difference for your business?
Where is my opportunity to differentiate?
How can I open doors the competition isn’t even thinking about?
The answers are in problem finding.
Would cultivating relationships help in your business?
The answer is yes unless you are selling a product that goes off the shelf.
How do you do that well without diluting focus from what matters today?
Think of your total market as a combination of different segments. Each of these segments has its own “personality.”
This post is a continuation of our thoughts from the previous blog post in this series – “Create and Capture Niches.”
How do I customize my offering to attract and win more customers?
Customers today complete, on average, 60% of a typical purchasing decision—researching solutions, ranking options, setting requirements, benchmarking pricing, and so on—before even having a conversation with a supplier. With so much information at their finger tips, they are frequently more selective.
What does this mean for your business?
How well does your marketing budget add up?
How do you decide which products or services to prioritize?
It’s a lot easier when you use real data to design your strategy.
Start with these four questions –
- What do you think is the demand and potential market size for your business?
- What do you see when you search for a product or service that you are trying to sell?
- What will make my pie bigger, or where can I grow my business?
- Who is getting the biggest share of the shelf – the “internet shelf”?
I recently read Daniel Pink’s book, DRiVE.
The most compelling idea for me was what Daniel called Type I Behavior: “Type I Behavior is geared more by the intrinsic desires than the extrinsic ones. It concerns itself less with the external rewards to which an activity leads and more with the intrinsic satisfaction of the activity itself.”
You don’t have to lose focus on business goals of revenue targets, or profitability. It’s just that the way you motivate yourself and the team is different.
The book developed three key elements of this Type I Behavior:
- Mastery and
It made me examine everything I do in life as a business partner, as a father, and as a passionate coach teaching 12-17 year olds communication and personal leadership skills.
What does Type I Behavior mean to me today’s business world? Read on.
Lighting system design is both art and science.
We light for people and situation; for example, good lighting design enables us to relax in one space, and to work in another.
What is important to keep in mind while integrating lighting into the overall architecture and design of a building?
This old saying is equally true and valid when it comes to realizing your full potential for growth and market share.
How do you diagnose accurately?
The answer is – ask the right questions.
Healthy blood circulation makes life more fun, energetic and full of vitality. This is as true for your business life as it is for your physical health.
What is blood to a business? I always think the blood of any business is leads. Robert Kiyosaki has said so well, “if you in business, you are in sales…period.”
How do you generate, qualify, track and cultivate leads? Is there a Crystal Ball?
The role of the website and online presence has evolved…
WHAT IS A WIN FOR ME?
A Customer Relationships Management (CRM) system can play a pivotal role in answering a number of questions –
- How do you manage your prospects database?
- How do you cultivate confidence and credibility with them?
- How do you track and understand them?
- How do you segment them and customize your follow up and communicate with them?
- What would be the next step in converting a prospect? What are his/her needs?
- How can I scale my sales operations and business?
What does it take to make it work successfully?
John Wannamaker had interesting quote, “Half of my marketing isn’t working. I just don’t know which half.”
Fortunately, marketing has evolved since then. The technology and tools have put so much power now in the hands of marketers.
The key is to use your online presence. It’s there for you 24/7. Use that to your advantage with an effective web analytics system.
The basics of business development are still the same –
- Create value for customers.
- Expand your reach to the target audience.
- Get in front of right people and companies.
- Cultivate relationships.
- Provide quality service.
The internet and social media channels provide new ways to do all of this. In this post and whitepaper, we will bring up one of the ways to grow business. That is, by identifying, capturing and sustaining market niches.
- Get Go-To-Market plan with focus that achieve results
- Integrate technology in the business strategy
- Capture market share
- Increase sales, expand your reach
- Measure and improve effectiveness of the business strategy using real data