How Analytics Help B2B Processes

Every sales leader across the country strives to find that "secret weapon" that is going to generate more revenue, help them cruise past their monthly goals, and run across the finish line having surpassed every target set for them in a given year. I think every sales leader also knows that a "secret weapon" doesn’t actually exist…unless of course you work for the Milwaukee Bucks.

Yes, that’s what I said. Our secret weapon is our analytics team. From beginning to end, we have support from two guys we affectionately call Numbers1 and Numbers2 who help us in three major ways as we approach our B2B sales process.  

1. Strategy

Before we even get to the pitch part of the process, we sit down with our guys to develop our sales strategy. Based on where we are and where we need to be, we determine the appropriate offerings and positioning of our product. From how to structure our deals to when we should launch, they are involved. They do research on the market, understand best practices and give us compelling reasons (with backup data!) to support the decisions we make. Their expertise allows us to capitalize on incremental revenue and market trends that we otherwise would not have taken advantage of.

2. Lead Segmentation

After helping us define our strategy, Numbers1 and Numbers2 help us segment our database and reach out to those prospects most likely to partner with us. Their expertise helps us score our leads, analyze the makeup of those who purchase from us and understand more about those who don’t. This approach helps us define who we should prioritize and how we should approach them. It definitely beats the good ol’ call everyone in the phone book game. The more you understand about those doing business with you, the better your process will be. By supporting your sales team members with credible leads, you build their confidence and generate better results. Then you can get into the business of analyzing rep pipelines based off of lead scoring and past sales results, which are more predictive analytics to help sales leaders hold their teams accountable and manage up to those asking for revenue projections.

3. Campaign Analysis

Finally, after these guys help us determine what to sell and who to sell it to, they analyze our campaigns so we can determine what went well and what needs to change. This step is arguably one of the most important parts of the process. As my boss tells me on a regular basis: the definition of insanity is doing the same thing over and over again expecting different results. If you don’t analyze your efforts, you are limiting your ability to grow. Numbers1 and Numbers2 help us understand when we need to pivot, and they help us do it.

At the end of the day, have sales been made without analytics? Of course. Would I ever go back to the day when I didn’t have the fortune of working with two super smart people who help us with our process? Absolutely not. It generates efficiencies that I didn’t know existed. It makes us better at what we do! 

About the Author: Jamie Morningstar is the Vice President of Ticket Sales and Service for the Milwaukee Bucks.

 

Share this