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How to Use Predictive Analytics to Improve Sales Meetings

Authored by Chisom Uche on October 19, 2016

 

By the sheer number of blogs written on the topic, we can confirm that running an effective sales meeting is a tough accomplishment. According to ToutApp, most salespeople already think they spend too much of their time entering data into the CRM. Add on another non-selling commitment and they now have even less time to actually sell. The good news is that with predictive analytics sales technology, you don't have to sacrifice effective meetings in exchange for shorter ones.

When it comes to meeting with your sales team, time definitely matters. As pointed out by Close.io, "Whatever you’re discussing, you need to make sure that those 60 minutes are worth it. This could be thousands of dollars." If you don't think the topic is worth the spend, then table it for later. The next question is how do you figure out what problem is significant enough to make the agenda for the meeting. When you leverage the power of predictive analytics, you can identify specific potential problems to your sales pipeline with enough time to make adjustments before it becomes a problem for your forecast. By proactively identifying areas where deals get stuck in your sales process, a lack of new deals in your pipeline, or even a pesky competitor, you can confidently prioritize which problems are really hurting your bottom line.

In Gitomer's list of 'Ways to Make Sales Meetings...Tolerable', at #10 he lists "Top Ten Prospect Review of Each Salesperson". To be fair, this is very important that reps and managers are on the same page about who they will be going after in the current sales period. However, think about how much time that takes for a rep each week. Before every meeting, each rep must go through each of their deals and decide which 10 are the best 10. They all must go to the meeting and present their 10 to the sales manager. The sales manager then has to agree or disagree that those 10 are, in fact, the best 10. Should the manager not agree, then they must use more time to compromise on which 10 the rep should be going after. That entire ordeal takes a significant amount of time away from selling and is open to human error and incomplete information for both the reps and the manager.

The benefit that a predictive analytics tool presents are to cut out the arbitrary designation of 'The Best 10 Deals' and to have a standard that both the rep and the manager can use to assess the pipeline. Predictive analytics tools also offer a real-time updating feed that can be viewed by the rep and the manager at any time, so there is no more time wasted during meetings. With the real-time feed, everyone can view the top deals being worked based on agreed upon criteria that make up the sales process. Now your meetings just want from being full of long updates to being serious sales strategy meetings that are focused on moving the needle. For more tips on how technology can enable high-value sales meetings, contact us! We'd love to show you how we use technology to run our awesome sales meetings.

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