Thursday 11 August 2022

Sales Transformation with Analytics

 Sales Transformation

Lead Conversion Probability

Business Issue

Many leads look promising prima facie but after a lot of effort nothing comes out of the lead. The subjectivity in decision making could be creating the noise.

Model

Lead conversion probability will give the probability score of getting the first lead getting converted once the client is introduced to the client rep/manager.

Outcome Expected

Focus on time and resources on leads with a better conversion probability.

Features, which could be used

Client_Manager_Job_Title, Customer_ID, Client_Manager_Department, Relationship_Type, LeadId, LeadType, SalesRep, LeadStatus

Account growth or loss probability in next quarter/HY/FY

Business Issue

If there is no preparation for growth in accounts in terms of allocating front-end and support staff, it can lead to missed opportunities. Losing accounts without a chance to rectify the situation can lead to missed targets and adverse top-line and bottom-line impact.

Model

Score for growth (out of 100) with negative score for loss

Outcome Expected

Tap into growth or rectify issues that could lead to loss of business in an account


Generate upcoming Skill HeatMap for existing Accounts

 Business Issue

Demand of skills have a variability built into it. Tapping into deals pertaining to  our higher capability areas can lead to higher margins. We might be missing on the crest of the demand for solution areas.

Model

Visually show the segments, which are in high demand.

Outcome Expected

Increase the margins and spread for each hire.


Predict top sales performers for key accounts

 Business Issue

Some sales personnel are seen to perform much better than the rest. Performance of the rest could be improved.

Model

Based on past data of the sales reps, provide probability of a sales rep’s performance. Performance will be analyzed for the demand received, revenue generated and cost optimized.

Outcome Expected

The key traits that the top performing sales people show can be inculcated in others as well.

 

Contact Journal Analysis (Misses, Focus, Predictions, Patterns)

Business Issue

Plethora of information in the contact journal is not utilized optimally.

Model

Analyze sales rep’s text entries from the contact journals, find the correlation with performance.  

Outcome Expected

Identify sales rep with negative/non-actionable entries and suggest course correction.


Predict target billing rates for Commercial negotiations

Business Issue

At times, clients need ball-park billing rates to move the communication forward.

Model

Based on skills, geographical area, relationship history with the client, past margins/spread/GPM provide deal size against a requirement, the sales rep who can use it to negotiate with the client

Outcome Expected

An algorithm based output to give target billing rates will help in more and faster deal closures


Prioritize Top Contacts

Business Issue

Top contacts with historically high yield (deal size, horizontal and vertical expansion) needs focus

Model

Based on past deal trends, contact journal mining (positive business terms) and relationship status prioritize top contacts

Outcome Expected

Focus on relationship building with top contacts. 

 Predict/spot cost to Serve an account

 

Business Issue

The costs are not apportioned adequately with the business outcome, which does not allow timely process change or technological intervention

Model

Based on past expenses, provide cost per deal closure and cost to service deal

Outcome Expected

Pinpoint the reasons for cost escalation or margin/spread dilution.

 

 

 

 

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