Swayne Hill recently gave a presentation on Dynamic Sales Process. In it, he discusses how a Dynamic Sales Management process will increase pipeline velocity and sales forecast accuracy resulting in, more revenue. Here you will see that he’s drawn attention to some startling CSO Insights stats that prove what we’ve been doing, isn’t working.
The CSO Insights study found that only 44% of forecasted deals won, only about 50% of reps make their quota, and sales teams, in general, are coming up 12% short on their overall plan. Swayne notes, that we are doing business in a 2.0 world, and therefore, we need to manage with a 2.0 management style. Our problem has been managing with 1.0 techniques, and this is costing us lots of money.
Swayne recommends a process of “detect & correct” versus “measure & punish.” Detect & correct can happen by asking yourself these three questions daily: what does the data say? should I be worried? and what should I do about it? He says leveraging pipeline velocity, monitoring variance, and taking action are the three ways to incorporate a dynamic sales management process in this 2.0 world.
I recommend watching this full screen (select at bottom right).