Your inability to FORECAST and REPORT stems from the POOR data quality inside of your CRM
Wan't to SCALE properly by leveraging data?
Read this ๐งต
Wan't to SCALE properly by leveraging data?
Read this ๐งต
Managing a CRM is tough, especially when you've a ton of users who don't enter / update the data they should.
I'm going to break down EXACTLY how I helped a ยฃ25m business optimize their Sales & Finance forecasting by creating a data quality scoring system.
I'm going to break down EXACTLY how I helped a ยฃ25m business optimize their Sales & Finance forecasting by creating a data quality scoring system.
Context.
I was working with a team of 15+ sales reps who used Salesforce as their daily CRM
Our forecasting was horrendous as the data was all over the place.
No source tracking
A lot of empty fields
Half assed updates
you get the picture
bad data quality = shit forecasting
I was working with a team of 15+ sales reps who used Salesforce as their daily CRM
Our forecasting was horrendous as the data was all over the place.
No source tracking
A lot of empty fields
Half assed updates
you get the picture
bad data quality = shit forecasting
Theres 3 sections in a CRM that we must keep updated
Contact Info
Lead Info
Opportunity Info
I decided to create a statistical model that would TACK data quality by a ton of variables
here's how I did it
Contact Info
Lead Info
Opportunity Info
I decided to create a statistical model that would TACK data quality by a ton of variables
here's how I did it
I started to capture what fields that I deemed necessary to accurately report on sales forecasting
- Lead Source
- Lead Company
- Opportunity Type
- Opportunity Amount
- Drop off status (Status before a deal was closed won or lost)
etc
- Lead Source
- Lead Company
- Opportunity Type
- Opportunity Amount
- Drop off status (Status before a deal was closed won or lost)
etc
There was a ton that I listed
Inside of Salesforce I created a counting model where IF an opportunity was existing and DID NOT contain a specific field that I deemed necessary It would get docked a point
I did this for:
- Opportunities
- Leads
- Contacts
Inside of Salesforce I created a counting model where IF an opportunity was existing and DID NOT contain a specific field that I deemed necessary It would get docked a point
I did this for:
- Opportunities
- Leads
- Contacts
This way the model is tracking whats NOT being filled in
Then I made a PUBLIC leaderboard that ranked the sales reps on these areas
The score was out of 100%
Closer to 100 the better
Then I made a PUBLIC leaderboard that ranked the sales reps on these areas
The score was out of 100%
Closer to 100 the better
Now this made instantly made a HUGE impact as nobody wants to be bottom of a leaderboard right?
But we needed to incentivise more
I talked with the head of sales and we decided a portion of the reps bonuses would be contributed to how good their data quality score was
But we needed to incentivise more
I talked with the head of sales and we decided a portion of the reps bonuses would be contributed to how good their data quality score was
Why? Because nobody wants to sit there and keep all their info updated for the sake of it
They'll think "Whats in it for me?"
Now back to the leaderboard
They'll think "Whats in it for me?"
Now back to the leaderboard
When the sales rep see their scores on the leaderboard
I they click their bar on the bar chart it would take them to a dynamic report showcasing them ALL of their missing fields on:
Opportunities
Contacts
Leads
This made it SUPER easy for them to populate the missing data
I they click their bar on the bar chart it would take them to a dynamic report showcasing them ALL of their missing fields on:
Opportunities
Contacts
Leads
This made it SUPER easy for them to populate the missing data
As a result our forecasting became EXTREMELY accurate letting the business make better informed decisions
We could see
Avg Sales Cycle
Avg Deal Value by Opportunity Type
Opportunities By Source
Close Rates on Reps
etc
We could see
Avg Sales Cycle
Avg Deal Value by Opportunity Type
Opportunities By Source
Close Rates on Reps
etc
Seeing these sort of KPIs fucking matter
"Johns only got a 15% Close Rate when the average is 26%, looks like he needs training"
"Were closing 74% of deals that are for product A, lets double down our marketing efforts for this product"
"Johns only got a 15% Close Rate when the average is 26%, looks like he needs training"
"Were closing 74% of deals that are for product A, lets double down our marketing efforts for this product"
You can put your time to SO MUCH better use rather than guessing "wheres the next high ROI activity"
As I say.....let the data do the talking
As I say.....let the data do the talking
If you've read this far and are running a B2B company doing > $30k/month and can sustain a 2-3x in growth over the next 90 days let's chat!
I help you build an in house client acquisition system & automate EVERYTHING
I help you build an in house client acquisition system & automate EVERYTHING
That's a wrap!
If you enjoyed this thread:
1. Follow me @LukeWarrd for more of these
2. RT the tweet below to share this thread with your audience
If you enjoyed this thread:
1. Follow me @LukeWarrd for more of these
2. RT the tweet below to share this thread with your audience
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