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How Much of Your Sales Pipeline is Fake Data?

Tanner Prince
August 28, 2020

 

How Much of Your Sales Pipeline is Fake Data?
 

CRMs are a fantastic technology that helps manage sales teams and sales funnels.  What many sales team leaders don’t realize is that CRMs are only as good as the data that’s in them.

Record the wrong data points and your CRM will misrepresent the truth of your sales pipeline. 

If you’re recording activity only, you can never know whether those cases are fake data.  The following risk being fake data:

  • number of calls
  • doors knocked
  • contacts made
  • or number of sales and results

With just these numbers, you can never know whether the data is old and dead or a true representation of what is happening.  Making decisions with this information will lead to inaccurate and inflated forecasts and sales goals.

The way you take control of your sales pipeline and start setting the right goals for your sales team is by focusing your record keeping on a KPI that tracks movement: The Schedule Next Event Play

The Schedule Next Event Play involves four steps that take place at the end of each action or meeting in your sales process.

  1. Establish a purpose
  2. Set a time
  3. Set a date
  4. Set a location

Make sure that the time, date, and location are all certain at the end of the meeting.

Scheduling the next event prevents you from recording fake data by shifting your focus towards up-and-coming actions rather than actions that have already happened.

“Because we’re switching the focus from backward activity to forward momentum, now we know how things are truly processing in the sales pipeline.” – Cameron Baird, Griffin Hill COO

Read our eBook to learn more about how you can apply these principles. We’ll also give you access to some tech tools that will help you keep track of real data and get rid of the fake data bogging you down.

Discover how to revolutionize your pipeline.

 

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Accurate Forecasting Requires Accurate Data - Griffin Hill

Accurate Forecasting Requires Accurate Data

 

Accurate Forecasting Requires Accurate Data

 

Research has shown that severe and abnormal weather disrupts 70% of businesses worldwide.  Weather forecasting is, therefore, a valuable tool for owners to protect their business from disruption… but only if the forecast is accurate.  Weather forecasters know this, and as a result collect as much data about the present state of the atmosphere and calculate potential developments using high-tech models.

Sales team leaders must do the same with their sales data in order to accurately forecast numbers and set targets for their team.  Without accurate data, you won’t be able to create accurate forecasts.

As a sales team leader, you’re probably recording numbers of actions like how many doors were knocked, how many calls were made, how many people were contacted, and how many sales were made.  The problem with using this data as a predictor of future sales is that all of these things happened in the past. None of these numbers reflect actions that are currently happening.

You need a tracking method that embraces the forward momentum of your sales goals.

That’s why using Griffin Hill’s Schedule Next Event Play KPI to track progress through your sales cycle is the only way to get data on what is going on in real-time.  Tracking development in your pipeline by determining whether your sales people have scheduled the next event in the cycle prevents old data from building up in your CRM, misrepresenting progress.  

So instead of sticking your finger in the air and throwing grass into the wind, you’ll be able to collect and record real data on the current state of your sales atmosphere.  You’ll be able to predict results based on what you’re currently doing, not what you did six months ago.

“Because we’re switching the focus from backward activity to forward momentum, now we know how things are truly processing in the sales pipeline.” — Cameron Baird

Engineer your performance based on the data. Solve problems as they’re developing before they can disrupt your progress. Get real data that reflects the reality of your situation as it is now, not in the past.

We’ve written a FREE eBook that gives you access to this play and shows you how to implement it on your team.

 

Read Full Article →
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