How many millions of dollars of revenue do organizations miss out on due to incomplete insights? For example, ask
yourself the following questions:
- Are your underperforming reps not performing because they are poor sales reps or because they have comparatively poor opportunities?
- Could the overperforming reps have done even better, if the quality of opportunities had been stronger?
- How do you give priority to your accounts – is it based only on the potential revenue or the likelihood
(odds of success) of realizing that revenue?
- Lead sources have different returns and upside, what would it mean to you to have fewer opportunities but with higher quality and increased odds of converting?
To answer these questions, Sales and Marketing teams need insight not only on the number and value of opportunities but on the quality of opportunities in the sales pipeline. This is where SalesChoice comes in.
B. How Does It Work?
The SalesChoice Insight EngineTM identifies the odds of each opportunity closing in a given time period, and rates them as A, B or C.
The performance of accounts, sales professionals and lead sources are then measured against the rating to reveal the quality of opportunities to help increase odds of conversion success.
C. Benefits for Your Sales Organization
- Managers can evaluate the performance of their sales professionals not only in terms of the number and value of deals closed but also on understanding more deeply the quality of deals in their pipelines to achieve those results.
- Sales teams can reprioritize accounts based on not only the potential deal size but also on its odds of closing to determine strategies to meet plan target goals.
- Marketers can choose to invest in lead sources that are giving good quality opportunities rather than on those that offer a bulk of opportunities that seldom or never close
D. Business Impact
Increased Performance: Managers can change the mix of opportunities among their reps to ensure all A-rated
opportunities are properly pursued, and also ensure that reps are not assessed unfairly due to uncontrollable factors.
Increased Revenue: Chasing accounts more likely to close helps teams close more deals and avoid getting distracted by bigger deal sizes that can lead to accounts losing out on both that and the deal that was more likely to close.
Better Resource Utilization: Marketers can potentially save costs by investing in lead sources that truly matter to sales rather than on those that make them look good without adding to actual realized revenue for the company.