Pelin Wood Thorogood of Aegean Group spoke about how Marketing can significantly increase the number of qualified leads with the same marketing budget.
Critical to success is implementing a culture of measurement. She recommends tracking the following statistics be analyzed in the Marketing Dashboard are how campaigns were performing, cost per impression, cost per click, cost per conversion and lead scoring.
Sales also is a lead generator. Statistics to measure include these:
- Pipeline velocity (size & shape)
- Stealth pipeline
- Days to win vs. days to use
- Pipeline at risk
- Future pipeline
- Pipeline bloat
- ... and more!
Smart, savvy companies are adopting a culture of measurement. The biggest challenge is related to accountability. People are afraid; want to hide what they're doing. But it brings great value because it adds visibility & predictability.
Barry Trailer from CSO Insights pointed out that a recession drives the need for the analytics. And, to emphasize the point, Gerhard Gschwantner from Selling Power quoted Warren Buffet, "When the tide goes out, you can see who has been swimming naked!"
David Holmes, VP of Sales Ops from Informatica, has implemented a compensation management system. Results achieved include:
- Radical reduction in reconciliation drama
- Less stress at end of quarter
- Greater trust
- Increased management productivity
Additionally it allowed them to expand the sales force by 25%, with a 50% reduction in admin support.
Barry Trailer sees that the real value of the Sales 2.0 analytics is that it enables Sales Management 2.0 coaching - focused on the real issues, making a real difference.