1 KPI Every Sales Leader NEEDS to track. But probably isn’t.
Invariably, every quarter has a gap between deal forecast and what actually closes. It’s a source of huge anxiety. What if there was a way to reduce that gap and anxiety?
One way of eliminating the gap between forecast and actuals is a programmatic approach to measuring 1 Key Performance Indicator within your opportunities:
It may seem really obvious, but few organizations are measuring relationship data successfully at scale. Not understanding these metrics can ruin a forecast. With a small account on it’s own, it’s pretty straightforward to get this data. It’s typical for organizations to map out relationships using Powerpoint decks or on white boards with photos that might get uploaded into their CRM. Relationships between buyer stakeholders are fundamental to the success of an opportunity. But how do we map out AND measure relationships efficiently at scale?
To measure Relationship Health of an opportunity, we need to measure the following metrics:
Breadth of Relationships. Complex sales opportunities have become dependent on consensus buying because purchases affect so many people within an organization. Being multi-threaded and selling broadly across an organization is crucial to the long term success of a deal. It’s a fundamental piece that’s often overlooked. Understanding the multiple Roles within an organization can help us to consider their needs and perspectives so that we can address potential roadblocks ahead of time.
As well as being able to sell broadly, it’s important to sell deeply, understanding each contact’s level of influence. It requires more subjective and nuanced metrics to map out the political landscape of an organization. Knowing who your real Decision Maker is one thing. Understanding the Support Status around those Decision Makers is crucial. Is this person a champion or detractor? Is there a historic rivalry going on here? Is there a way we can neutralize resistors or even convert them into supporters?
With a mapping solution that is integrated within your CRM, such as ClosePlan, it’s easy to measure the health of your opportunity relationships at scale. Relationship Health is 1 KPI that will help you accurately assess your pipeline and direct the critical actions to increase deal to close rate and reduce your sales cycles.