#428. Correctly Using Data to Manage Sales. With Greg Dalli.
Greg Dalli, Co-Founder of Clarus Designs joins me on this episode of #Accelerate!
[:47] Greg became legally blind at age six, and soon realized he would need a different approach to problem solving. After college, he became a business intelligence analyst for a startup. He helped scale the firm from $15Million-$200Million.
[2:36] The purpose of Clarus Designs is to help sales and marketing teams make better decisions, and grow, using data.
[2:58] Greg tells how to find ‘the truth,’ which varies case by case. You start with clean data.
[4:13] Clarus Designs simplifies problems, to focus on what is actionable. Does it matter how many emails it takes, on average, to touch a contact?
[7:11] Clarus Designs helps teams look at metrics in relation to other changes, such as, new customer growth in relation to average sales price. Greg tells how the two metrics correlate.
[8:28] Clarus Designs suggests teams can tie activity metrics to success metrics. It’s not just how many emails they send, but how many people they connect with, as a result.
[10:30] Greg explains how success metrics might be applied usefully, or how they might lead to missing goals.
[12:00] Assuming from last year’s data that 5X pipeline coverage will yields your sales goal does not work. The pipeline will get filled with unqualified leads.
[14:18] The more stressful the situation, the more likely people crave control. They seek control through activity metrics, but activity metrics are not tied to outcomes.
[20:47] Greg contrasts time management with efficiency, or sales dollars per hour of selling time.
[25:10] Asymmetric metric variability represents a skewed distribution, in forecasts. It is easy to overestimate when the deal will close, and underestimate the discount to get the deal.
[29:25] Managing pipeline coverage must assume a significant percentage of the coverage will fall out from no decision.