Jess Greenwood, the chief strategy officer at R/GA, once noted that, “data is the new crude oil—it’s only useful when it’s refined.” This couldn’t better describe the way sellers approach data in their CRM. Data within a CRM is just that—it hasn’t been analyzed or prioritized for action.
But what if sellers had a tool to help guide them on what actions they should take to move deals further down the funnel?
That’s the next evolution of CRM. Technology has caused a disruption and has been a driving force into why organizations prioritize its adoption. It’s not CRMs but behavior that drives seller results:
- Are they having the right conversations, and asking the right questions?
- Are they providing value and perspective to their buyers?
- What facilitates seller success?
Technology provides insights based on behaviors so that sellers can be more effective. At Miller Heiman Group, we’ve weaponized our methodology in a CRM tool with Scout, which allows sellers to engage technology in the context of behavior.
Scout provides sellers with insightful data at their fingertips for analysis—and even the smallest details from what a seller enters into a CRM can turn into predictor of success. Here’s how:
- Scout users enter the specific piece of business they want to earn into their CRM. The data shows that the more succinct this statement, the better the odds of closing the deal. This is because the more sellers write, the less defined their understanding of their buyer. When this statement gets too long, it indicates that sellers have more questions to ask so they can understand why the customer is exploring a new solution—and indicates a lower chance that the seller will close the deal.
- By studying their historic data, sellers might recognize that if they haven’t identified an internal coach by a certain opportunity stage—a key component in a closed-won deal.
- Have sales reps track a list of questions they’ve asked buyers. Sellers can evaluate whether the reps got answers to those questions and correlate that information across all of their data to see what questions work and determine which language yields the best, clearest responses. Then, sellers can share that information with the entire sales team and ultimately generate better deal outcomes across the board.
These insights allow sellers to focus on deals that are more likely to close or to identify actions they need to take to move an opportunity further through the funnel.
In short, Scout helps sellers win more deals in ways that may not have been obvious to the naked eye. And showing sellers how they can use sales analytics to win encourages sellers to engage more—and continue sharing accurate information with—their CRM, creating a virtuous cycle.
When you start measuring the outcomes of specific selling activities, you can coach other sellers on how they can follow the lead of your top performers and win more business—a key practice that most world-class sales organizations adopt.