How Productivity Analysis Can Boost Your Win Rate 72

How Productivity Analysis Can Boost Your Win Rate

This is a guest post by Tom Jager, a professional blogger. He works at A-writer, has a degree in Law and English literature and has written numerous articles/online journals.
You can reach him at G+ or Facebook.

When something goes wrong in online business, performance metrics are often applied to reveal the possible problems. Often, the managers commit a horrible mistake by focusing too much on the quota and reaching the target number and forget to track some critically important performance metrics.

This is done through the productivity analysis, a tool which allows to get greater control over the sales performance and activity metrics and improve the revenue.

The primary purpose of the productivity analysis is the identification of areas for potential productivity enhancement initiatives based on the statistical data.

It also highlights the areas of interruptions and delays that lead to the decreased productivity of the company. Reliable data received from the productivity analysis can make a number of positive outcomes possible, including the boosted win rate.

In this article, we are going to show you a number of important productivity analysis techniques that you should focus on to ensure the best performance of the business by boosting the win rate.

Response Time and Sales Content Management

In today’s online environment, the business tends to move at increasing speed, which gave the rise to the inbound marketing.

What does this trend mean to you? It makes the companies become more concerned with the online techniques that generate more leads. Despite that, a body of fresh research suggests that online lead lives a very short life. They key factor here is the speed of response.

Slow response time can dramatically decrease the performance level of the online business in no time. To eliminate this problem, a productivity analysis can be carried out to check whether the company is making an appropriate investment in marketing.

As it was described by the British company  Proessaywriting, the effective productivity analysis allowed them to determine the necessary amount of additional marketing spending, which resulted in a fifteen percent sales increase after a couple of months. Also, the analysis will show if the investment pays off by providing a quick and efficient response time to leads.

Ineffective sales content management is another issue that could be identified and eliminated thanks to the productivity analysis.

Some sources suggested that more than ninety percent of the marketing content is often unused by sales but still accounts for a large share of the total budget in many organizations.

As the result, this serious inefficiency may have a profound impact on the sales department performance. By having identified this issue, it would be possible to define what sales content management software is required to increase the performance levels of both sales and marketing.

One of the most popular options at the moment is Desktime. Among the essential functions of this software are automatic time tracking, company’s status reporting, project tracking, and productivity analysis. In many companies, it allowed marketing leaders to push relevant content directly to sales department.

Opportunity Win Rate

What Stops You on The Way to Perfect Organization

The control of the opportunity win rate through the productivity analysis gives the opportunity to improve the sales performance by providing the insight into the ability of reps to close the deal.

Unfortunately, some of them might not be great for this task, even though they might have the appropriate skill of working and networking. The productivity analysis allows to control this metric by working closely with those who have low opportunity win rates and provide direct coaching. In many cases, simple presence and a short training are sufficient.

Sometimes, the analysis of the deals can be beneficial because it can define the ones that are not worth the effort.

The sales managers should ensure that the reps are managing and using their time in a smart way and veer towards the larger deals. In many cases, the reps can work on small deals for a lot of time, mainly because they are much easier to close, thus pursuing less significant opportunities and losing more important ones.

Take time to analyze the average deal size to see on what the reps are spending most of their time and evaluate the lead generation efforts. Having these data will allow to change the average deal size to make the reps spend their time as wisely as possible and boost sales.

Sales Cycle

In order for productivity analysis to be comprehensive, it should involve the data about the average time of closing the deals.

This also goes into the area of measuring the performance of the sales reps and can be considered as an important metric. By measuring the time of closing the deal with the analysis, you will be able to identify the ones that are less likely to close by the specific amount of time they are requiring to progress.

In addition, the identification of the sales bottlenecks will be possible. The productivity analysis can reveal where the reps might need a bit of training to deliver better results, which could include the control over the deals.

For example, they can be taught to define the deals that are more likely to convert by using the statistics provided by the analysis. By having this critical data about the sales cycle, you will be able to identify and eliminate issues to make the process much more efficient.

These productivity analysis techniques have been proved to be effective in many cases and helped companies to boost the win rate and achieve other positive outcomes in an appropriate amount of time.

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What the Richest People in the World Have in Common 6

What the Richest People in the World Have in Common

Getting rich is something everyone dreams about.

For those facing financial hardships, getting rich seems the only way out to tide over shortage of money. For the bourgeoisie – the working class – getting rich conjures up visions of stuff they want to buy for luxury or higher social status. Millionaires also wish to get rich: they want to become billionaires and enter Forbes List of the world’s wealthiest people.

Unless you inherit a fortune or get lucky at lottery or sweepstakes, getting rich can be quite tough.

Yet, there are countless rags-to-riches stories around the world. Enterprises such as Amazon, KFC, Facebook or SpaceX have become runaway successes within a short span. The reason: their founders have several things in common, which is rare among other people.

Here we look at various traits that the world’s richest and most successful entrepreneurs have in common.

The Common Traits of The World’s Richest People

The Common Traits of The World's Richest People

1. Serving People.

“If your only goal is to become rich, you will never achieve it,” said John D. Rockefeller, who laid the foundation stone for America’s giant petroleum industry and his own enterprise, Standard Oil. The same adage holds good today.

Facebook, for example, was launched by Mark Zuckerberg and his roommate, Eduardo Saverin to allow Harvard University students to share profiles and pictures

There are countless such examples of ordinary people striking rich. However, they share one thing in common: serving people. The main objective of launching these enterprises was to make life easier or enjoyable for people rather than earning money.

2. Reading Books.

Microsoft founder Bill Gates, celebrity TV show host Oprah Winfrey, SpaceX and Tesla CEO Elon Musk, Berkshire-Hathaway CEO Warren Buffet and several other extremely rich people of the world have one more thing in common: they are avid readers.

Bill Gates reads at least 50 books every year – an average of nearly four and a half books per month.

Elon Musk owes his success at SpaceX, the project to open space tourism to his love for books and the knowledge he gained from them about rocketry. Oprah Winfrey attributes her success to dozens of books, including some 70 top titles she read on her way to success while Warren Buffet spends about 80 percent of his day reading books.

3. Long-Term Financial Strategies.

A report by CNBC states, all wealthy people depend upon long-term financial strategies rather than short-term gains. They utilized their earnings and savings to invest in safe stocks that would assure gains in the long run rather than indulging in risky trading that can offer high returns.

Such financial planning and decisions ensured they do not lose money. Further, they invested money in their enterprises without the hope of immediate returns.

These wealthy people first focused on building a brand, offering value for people to identify with the brand. And later, popularize the brand through word-of-mouth publicity, which is more effective than traditional advertising.

4. Never Say Die.

Yet another common character trait shared by the world’s richest people is, they are not quitters.

Like every other human on Earth, these wealthy folks also witnessed ups and downs in life. Some of these were so overwhelming most ordinary people would have called it quits and gone in search of easier ventures.

Brian Chesky, Joe Gebbia and Nathan Bleckharczyk, founders of Airbnb, the world’s largest hotels and accommodations aggregator were plagued with financial problems.

 

Heavily encumbered with debts, bankruptcy was staring at these entrepreneurs in the very eye. Yet, they did not budge. They innovated their service that made Airbnb the world leader in its field today.

Another excellent example is Colonel Harland Sanders, whose recipe for fried chicken was rejected as many as 1,009 times before it was accepted. Col. Sanders is the founder of global chain Kentucky Fried Chicken or KFC.

5. Accepting Criticism.

Most people flee from criticism of any sort. Rather than learning from negative comments arising out of their behavior or work, they take umbrage rather quickly. Yet, they do not bother to amend their behavior or work pattern.

All wealthy people, however, are different. They are willing to be criticized for introducing new ideas or thoughts.

Jeff Bezos, founder of Amazon, rightly says that those who will try and do something new must be willing to draw criticism.

Steve Jobs, founder, Apple, Inc. puts it in even stronger words: “If you want to make everyone happy, do not become a leader; sell ice cream instead.”

The success of Amazon and Apple proves their founders were right when it came to accepting criticism.

6. Out of The Box Thinking.

how regular life looks like and why it won't make you happy

Thinking outside of the ‘box’ or a typical mindset is often impossible for most people. Understandably, because everyone draws their mindset from factors and circumstances they are raised and educated in.

This mindset eventually becomes a formidable fetter for anyone wanting to become an entrepreneur. Generally, most people follow the flock and take professions they falsely believe as best suited for their skills. Others try to follow footsteps of their parents.

The wealthiest people in the world never followed flock or took lucrative professions of their parents.

Mark Zuckerberg’s father was a dentist and mom – a psychiatrist. Bill Gates’ dad was a banker father while his mother was a lawyer.

Despite coming from wealthy families, they chose to follow their passion rather than confine their thinking to the proverbial boxed mindset. Col. Sanders had lost his parents at a young age of six years and had to shoulder responsibilities of his siblings.

Other Examples of What The Wealthiest People Have in Common

As we can see, these qualities or personality traits are common to the world’s richest people. It sets them apart from others. Most of them launched small enterprises with the sole purpose of bettering the lives of people. Their products or services gained popularity because money was never their consideration. Widespread use of their technology, products, and services eventually led them to become wealthy.

These traits are not typical to the US or the western world, as one may mistakenly come to believe. A glance at some richest people in India and elsewhere also reveals, they share the same characteristics with their American counterparts. This amply proves that richest people around the world share something in common, regardless of where they live and flourish.

Another common trait that all rich people share in common is philanthropy.

Since childhood, they believe in giving back to the society and helping the underprivileged. They practiced charity when they were not so rich and continue to donate money for the betterment of the society even after becoming billionaires.

These richest people on the planet never waited to become wealthy. Instead, they were philanthropists since childhood – a trait most other people pathetically lack or try to foist upon themselves to gain popularity.

In Conclusion

It is not easy to become wealthy. Or everyone would become a millionaire. People who do make it to the top have a different way of thinking combined with an undying zest for learning new things and educating themselves.

They do not consider conventional learning at universities as the end of their education. Instead, they try and acquire new skills every day and find ways and means to become better humans rather than focusing on fattening their purses.

The world’s wealthiest people also share one common trait: they are not people pleasers, despite their generosity and willingness to serve the society. Because they know, trying to please everyone will get them nowhere and could mean possible failure.