Three Ways Predictive Analytics Can Help You Achieve Higher Win Rates

Three Ways Predictive Analytics Can Help You Achieve Higher Win Rates

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Niveditha Viswanathan

Head of Product & Marketing, Vymo

Increasingly, sales organizations are adapting to the new, digital, mobile workforce. Almost every enterprise is jumping on the boat that is sailing toward a well-defined mobile and digital strategy.

In this new world, data and predictive analytics are the undisputed heroes. Here are three ways predictive analytics can truly help sales teams work better and witness higher success rates.

1. Predictive calendaring

Daily life for a sales rep and her manager revolves around a set of defined activities that all need to be carried out in order to ensure every lead is pursued well. So, why not have a way to slot the rep’s calendar while she is sleeping? When the rep wakes up, her calendar provides her the agenda, route, and plan for the day.

And this is not just a simplistic function. Today’s business realities mean meetings get rescheduled all the time. So, when your rep finds herself with a two-hour slot suddenly opened up, why not suggest two other leads she can meet with in the same zip code? This ensures your reps always make the best use of their time and look to move each task or lead to closure.

2. Smart lead allocation

A well-allocated lead helps ensure a successful outcome. Some sales reps are innately good at closing some lead profiles versus others. Thus, matching the right rep to the right lead profile will a) ensure the rep is motivated to follow up with the lead and b) maximize the success rate from overall allocation.

Secondly, having well-defined rules to select the best possible lead will ensure your organizational preferences are mirrored and you are encouraging expected behavior. Want the time to call minimized? Allocate the lead to the nearest rep. Want the high-potential client to convert fast? Allocate to the rep with the highest win rate consistency.

3. Cognitive coaching

As you allocate your leads well and your reps are busy checking off their calendars, there are times when it is good to pause, reflect, and engage – in real time. Notice that a rep has dropped three leads in row? Ensure that manager and rep get real-time alerts, giving the manager a chance to schedule a coaching session. See that the reps in a certain region are about to fall short of their goals at the end of the month? Catch that signal ahead of time and schedule corrective measures.

By ensuring that your managers are proactively getting key result area (KRA) signals and coaching alerts for their reps early, the entire team becomes more skilled, better trained, and more proactive.

Incorporating predictive and cognitive analytics will help you overcome the most common challenges that plague sales teams. Consider making the following improvements.

1. Don’t ask sales reps to divide their time between meeting leads and reporting – mostly, resist reporting.
2. Make sure managers at headquarters have good visibility into field activities and outcomes.
3. Give management and executive leaders ways to personalize measures to drive outcomes and behaviors.

Imagine a sales team that is not facing any of these challenges. Doesn’t that present the recipe for a high-performing sales team? So, do you have a robust predictive engine configured for your sales team yet?

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