Traq.ai’s Post

In the world of sales, a significant portion of the budget is allocated to generating leads, yet there’s a crucial aspect often overlooked: the value embedded in every sales conversation. These interactions are not just calls; they are treasure troves of data waiting to be unlocked. The key lies in recognizing the immense potential within these conversations and harnessing it to win business. Read on to learn how to harness and leverage this data » https://lnkd.in/gGfkyJ-r

5 things I learned about sales this week: 1. Up to 50% of sales go to the vendor that responds first. 2. Responding to a lead within 5 minutes makes you 9x more likely to convert them. 3. SDRs who contact leads within an hour are 7x more likely to have a profound conversation with decision-makers than those who take longer than an hour. 4. The average SDR spends 17% of their day on data entry - automation is key 5. Predictive analytics can forecast customer churn with 85% accuracy 4 tools that helped me: 1. Databar.ai for data enrichment 2. LinkedIn Sales Nav for prospect research 3. HeyReach for outreach  4. Fathom for call analytics and insights 3 goals for next week: 1. Create a dashboard to track key sales productivity metrics 2. Analyze customer interaction data to identify opportunities 3. Set up a new outbound campaign 2 people who inspired me: 1. Shaan Puri from MFM for his take on growth metrics 2. Jacco van der Kooij for his innovative approach to data-driven sales methodologies 1 quote I'm reflecting on: "In the modern world of business, it is useless to be a creative, original thinker unless you can also sell what you create." - David Ogilvy What did you learn this week?

Are you trying to reach new sales targets? Every marketing and sales manager has sales goals and KPIs to hit. But how do the best of the best reach those goals? With a simple solution: sales intelligence—often the missing piece to elevate your performance. The global sales intelligence market is expected to reach $3.4 billion by the end of 2024. Why? More people are realizing just how impactful sales intelligence is on business growth. In this in-depth guide, we explore sales intelligence, why it’s important, and how it can help drive sales and grow your business: https://bit.ly/4azsGHB

Your sales forecast shows a significant drop. How will you turn the tide for the upcoming quarter? Analyze your Data! How do you do that? Let's break it into simple action items 😊 1. Analyze current sales data for trends and changes. 2. Identify shifts in customer behavior and market trends. 3. Pinpoint underperforming products or services. 4. Assess the impact of new competitors. 5. Use insights to develop a targeted recovery strategy for the next quarter. Numbers don’t lie, so start by tracking key metrics (KPIs) for your business. If you’ve done this correctly, you’ll be able to identify the problem. Are you getting enough leads? Are the leads relevant? Do you have quality leads, but they’re not converting into sales? Lastly, ask yourself: Who are the top 10 prospects in my pipeline today that could make a decision?

A mistake I’ve seen a lot of organisations make is to expect their sales team to build excellent reports. Your sales team can be champions at closing deals but not necessarily at - fetching good data - getting relevant insights - taking action based on the insights You need an analytics team to do that. And if you do not have one yet, you need to start building one ASAP, ideally today. While your sales focuses on aggressively closing qualified leads, it is important to look at the numbers and optimise the sales process for better and faster conversions. Data speaks volumes to people who can listen. It’s a low-hanging fruit - grab one today!

What if you could unlock sales growth with more context instead of just more data? Understanding the story behind the numbers is key to making smarter decisions. Selling Power dives into how prioritizing context can revolutionize your sales strategy and drive real results. https://hubs.la/Q02KMFZY0 #SalesGrowth #SalesStrategy #DataDriven #SalesLeadership #TechSales

Practical Topic on the role of Data in Sales Strategy "Why you should use a data-driven sales strategy" https://lnkd.in/gQvME64X

Having the right data as a sales leader has helped me to lead more effectively. But what do I mean by this? Having data which clearly demonstrates which type of activity (call, email, text) creates the desired outcome is essential to become more productive. If you are tracking and able to report on the steps you are taking with your prospects, this can be a huge way to unlock what's working and what is not for your sales organization. You can figure out - was it that third call, fourth LinkedIn message, or sixth email that got the meeting? Once you have that data, you can train your sales team around best practices to be more effective. 

Bridging real metrics and the tall promises before them. Website Data: - 300 customers - 9 years in operation - 10-15 sales representatives What Founder says on LinkedIn: - Sales representatives should perform at least 500 activities per day. 𝗕𝗿𝗲𝗮𝗸𝗶𝗻𝗴 𝗗𝗼𝘄𝗻 𝘁𝗵𝗲 𝗡𝘂𝗺𝗯𝗲𝗿𝘀 Customer Acquisition: - 300 customers in 9 years - This equates to approximately 33 customers per year, or about 3 customers per month. Standard Sales Targets: - Standard target for a Sales Development Representative (SDR) is 8 meetings per month. - Typically, this involves 200-250 activities per month. Comparing with Founder’s Expectations: - Founder expects 500 activities per month per SDR. - If an SDR can secure 8 meetings with 200-250 activities, they should be able to secure about 10 meetings with 500 activities. (keeping it low ball) Scaling with Sales Representatives: - With 10 SDRs, this translates to 100 meetings per month. 𝗥𝗲𝗮𝗹𝗶𝘀𝘁𝗶𝗰 𝗘𝘅𝗽𝗲𝗰𝘁𝗮𝘁𝗶𝗼𝗻𝘀 𝗢𝘃𝗲𝗿 𝗧𝗶𝗺𝗲 Let's exclude the first 5 years for this high target and assume founder-led growth during this period. Even if we consider only the latter half of the company's tenure (4.5 years), the expectation would be to achieve around 750 customers (assuming an increase to 200 customers/year due to the efforts of 10 SDRs). 𝗕𝗿𝗲𝗮𝗸𝗱𝗼𝘄𝗻 𝗢𝘃𝗲𝗿 9 𝗬𝗲𝗮𝗿𝘀 First 5 Years (Founder-Led): - 3 customers per month = 36 customers per year - 36 customers/year * 5 years = 180 customers Next 4.5 Years (With SDRs): - 10 SDRs each bringing 10 meetings/month = 100 meetings/month - 12 months/year * 4.5 years = 54 months - Assuming a 20% conversion rate from meetings to customers, this would yield:  - 100 meetings/month * 0.20 conversion rate = 20 customers/month  - 20 customers/month * 54 months = 1,080 customers Which means the total number of customers over 9 years can be broken down is: 180 customers from the founder-led phase + 1,080 customers from the SDR phase = 1,260 customers. It's crucial to break down sales metrics for clarity, especially when discussing targets and achievements. Analyzing sales goals by activity metrics helps identify potential gaps between expectations and achievable results. 𝗧𝗵𝗶𝘀 𝗶𝘀 𝗲𝘀𝗽𝗲𝗰𝗶𝗮𝗹𝗹𝘆 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝘄𝗵𝗲𝗻 𝗰𝗼𝗻𝘀𝗶𝗱𝗲𝗿𝗶𝗻𝗴 𝗳𝗶𝗴𝘂𝗿𝗲𝘀 𝗽𝗿𝗲𝘀𝗲𝗻𝘁𝗲𝗱 𝗼𝗻 𝗽𝗹𝗮𝘁𝗳𝗼𝗿𝗺𝘀 𝗹𝗶𝗸𝗲 𝗟𝗶𝗻𝗸𝗲𝗱𝗜𝗻, 𝘄𝗵𝗶𝗰𝗵 𝗺𝗮𝘆 𝗻𝗼𝘁 𝗮𝗹𝘄𝗮𝘆𝘀 𝗿𝗲𝗳𝗹𝗲𝗰𝘁 𝗮 𝗿𝗲𝗮𝗹𝗶𝘀𝘁𝗶𝗰 𝗽𝗶𝗰𝘁𝘂𝗿𝗲.

5 metrics to obsess over. Get in touch if you need help with reports and dashboards. #crm #salesforce #sales #metrics