Description
Learn how to analyze sales data and use it to positively impact your team and business.
The purpose of data accumulation is to improve some aspect of your organizations performance. If you dont keep the right sales records, if they are not reported accurately, if they are not evaluated effectively why bother keeping them? This topic is about not just the evaluation of data but what data should be developed, why it should be developed, how it should be interpreted, and then what actions should be taken as a result of what is learned. Data is useless if it is not accurate, if it is not interpreted effectively or if after it is interpreted the results are not integrated into new behavior. It is a complex and yes critical process but one that is necessary if any organization wants to maintain sustained growth, competitiveness, profitability, relevance, and overall success. This information is not just about the technology for the data but the rationales, the evaluations, the interpretations, the actions, the politics, the management style, the culture, etc. that will ensure a process that will help you remain competitive, relevant, effective, and necessary.
Date: 2020-09-21 Start Time: 1:00 PM ET End Time: 2:00 PM ET
Learning Objectives
The Why
• If You Dont Know Why You Are Doing (The Sources of Information and Data) What You Are You Cant Successfully Maintain Effective Information Awareness and Understanding
• If You Dont Know Why What Isnt Working Isnt Working, You Cant Fix It, Delete It, Change It, Etc., or If You Dont Know Why It Is Working, You Cant Improve on It
• If the Right People Are Not Involved in the Various Actions or Evaluations in This Approach, It Will Be a Waste of Time, Energy, Effort, and Resources, and Nothing Will Change
The What
• What Stats Do You Need, i.e. Closing Ratio, the Average per Sale Revenue, Sales Cycle Length, Most Common Not Purchase Reasons, Lost Sales Revenue, and Why, Etc.
• What Is the Sales History of Certain Products, Have Some Products/Services Outlived Their Value, What Are the Reasons for Lost Sales, Customers, Lost Market Share Loss/Gain, Competitor Positioning and Your Sales History, Etc.
• What Has Been Your Organization’s Traditional Response to Both Sales Gains and Losses and Many of the Negatives or Positives Above, and What Are Your Lost Sales Ratios?
The How
• How Have You Modified Approaches, Pricing, Marketing, Customer Service, Advertising, Etc. Driven by Previous Data or Results Due to the Above Whats?
• What Is the Typical Response/Reaction Throughout the Organization to These Changes?
• How Long Do the People Involved in Developing the Hows Stay Involved in the Change or Improvement Next Steps or Actions?
The Interpretation
• What Is Your Process or Approach for Interpreting Data, Stats, and Outcomes?
• Who Typically Is Involved in This Process?
• How Long Does the Process Take and Why?
The What to Do Next
• Once You Have Evaluated the Why, the What, the How, and the Interpretation • What Is Your Typical Action, Response?
• When These Changes Have Taken Place Do You Typically Assume, They Will Work or Do You Continue to Repeat the Above Steps or Process to Ensure Effective Change or Improvement?
• Are the Above Steps Your Organization’s Current or Typical Approach to Overall Information Gathering, Evaluation, and Interpretation or Do You Do a Less Detailed Process?
Tim Connor-Connor Resource Group
