How Salespeople Can Stop Chasing Bad Leads

By Brett Sheppard

As a busy salesperson, you have a lot on your plate – relationships with your top accounts and prospects, keeping your boss informed and off your back, maintaining a clean pipeline so you can see what’s likely to close this quarter, and a whole lot more. Sales analytics? That sounds like just more overhead.

Except when the sales analytics are integrated into the tools you already use every day and the results make you more productive.

At Adobe, the inside sales team was overwhelmed. They tried fixed rules – e.g., call every lead within 48 hours, and call back again within one day, etc. – but the problem was they were chasing too many poor quality prospects. That was before they started using DxContinuum.

“With the DxContinuum lead scoring solution, we had a double-digit increase in conversions with half the number of leads chased quarter over quarter,” says Pawan Goyal, senior director of products, Print/Scan and TechComm at Adobe Systems Inc.

Best of all, the opportunities are prioritized directly in Salesforce tabs – no new software to learn or manuals to read. Just click on the Salesforce tab and see which are the leads to call that day that have the highest likelihood to convert, at the biggest dollar amount, and in the shortest period of time.

How does the DxContinuum software do it? We’re not talking about dozens of data scientists in lab coats or magicians waving Harry Potter wands. Instead, DxContinuum software analyzes your group’s complete win/loss history and looks back through the lead-to-conversion funnel to find which attributes make for the best leads and most important opportunities. Likewise, the DxContinuum software finds those clunkers that should be deprioritized so you don’t waste time on that student sitting in his underwear in his dorm room who downloads a software trial or white paper and who barely has a budget to buy pizza – much less what you’re selling.

Salesforce.com surveyed more than 2,000 sales leaders in North America and overseas. Guess what was the number one trend? Analytics use is soaring among top teams.

Salesforce.com found that high-performing sales teams are 3.5 times more likely to use sales analytics. For these leading sales teams, analytics provide visibility into accounts and help dictate where to focus energy for the most productive prospect and customer conversations.

Folks over on the marketing side have been using predictive analytics for a while now. But there really haven’t been many options for inside sales and account executives. That’s where DxContinuum comes in.

High performers are moving beyond basic sales analytics to gather insights across the entire customer lifecycle. According to the Salesforce.com survey, while 19 percent of sales teams are currently using predictive analytics, 26 percent are piloting or plan to use it in the next 12 to 18 months.

What you want to ensure is that not only does the predictive software work, it doesn’t require you or your sales team to input new data or redo your whole sales process. Likewise, your IT department will want to ensure that you pick an offering like DxContinuum that keeps data within your corporate firewall so you don’t risk exposing information about your customers and prospects.

Gartner has identified the value of predictive analytics for sales teams. Gartner Research Director Todd Berkowitz finds that “SaaS-based predictive analytics applications are helping B2B salespeople and marketers more effectively generate demand and win deals.”

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According to Gartner, predictive lead scoring has received the most attention in the marketplace and is the most common in terms of Gartner inquiries because it most directly impacts marketing and addresses an increasingly common problem.

Companies like DxContinuum – that offer both lead and opportunity scoring – are relatively rare. So is the fast time-to-value of software like DxContinuum, which Fortune 500 companies have gotten going in days, without buying expensive professional services or armies of consultants.

That’s why leading Fortune 500 enterprises like Adobe, Akamai, Cisco, and Dell have chosen DxContinuum. By adopting DxContinuum, sales teams at these companies have accelerated their lead-to-deal conversion by up to two times, deal size by 20 percent, and sales velocity by 25 percent.

Attending the Sales 2.0 Leadership Conference in Philadelphia on November 16, 2015? DxContinuum will be there, too, if you would like to talk in person there.

Brett Sheppard is VP of Marketing at DxContinuum, Inc. To learn about how predictive analytics can add value to your sales team, contact DxContinuum at info@dxcontinuum.com or call 510/497-4062.

 

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About Lisa

Editorial Director at SellingPower.com.
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