how big data is transforming inside sales

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How Big DataIs Transforming Inside SalesLeveraging Big Data to Improve Inside Sales Performance

April 2012

LATTICE Proprietary & Confidential

Why Does Inside Sales Care About “Big Data”

Inside Sales teams operate in an era of increasing volume, velocity and variety of information(“Big Data”) available about their customers & prospects.

Inside Sales teams that know how to use this data intelligently can gain competitive advantage.

2

AS

MM


“BIG DATA” HAS BECOME A C-LEVEL TOPIC IN 2012

3

McKinsey QuarterlyMay 2011 The Economist

September 2011World Economic ForumJanuary 2012 NY Times

February 2012

AS


“BIG DATA” IS CREATING CHANGEIN HOW BUSINESSES ARE RUN

4

“Everyday we create 2.5 quintillion bytes of data–90% of the data in the world today has been created in the last two

years alone”

Driving Change in B2C(Consumer Credit, Consumer Goods, Retail)

Driving Change in Govt, NGOs(Health, Government)

Driving Change in B2B(Banking, High-Tech, Biz Services)

MM


TIME

ENGA

GEM

ENT

OPPO

RTUN

ITIE

SW

ILLI

NGNE

SSTO

ENG

AGE

NEW BUSINESS

FORMS

FIRST OFFICE IN A NEW

STATE

RISE IN TRADE WITH CANADA

RECEIVES GOVERNMENT

CONTRACT

ENGAGE NOW

INSIDE SALES TEAMSHAVE ALWAYS KNOWN THEY HAVE

“WINDOWS OF OPPORTUNITY” TO ENGAGE

MM


BIG DATA & ANALYTICS ON THAT DATAPROVIDE VISIBILITY TO THE “WINDOWS” YOU HAVE

6

…BUSINESSDYNAMICS

EMPLOYEECONSTITUENCY

& CHANGE

CONTRACTS, AWARDS & EXPANSION

PRIVATE EQUITY INVESTMENT

COMPLIANCE& REGULATORY

IMPACTS

BALANCEOF

TRADE

TRANSACTIONS

LOCATIONDYNAMICS

NETWORKPROFILES

LEGALACTIVITY

Your Customeror Prospect

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HOW INSIDE SALESUSES “BIG DATA” FOR “BIG RESULTS”

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SEGMENT BASED ON DYNAMIC ATTRIBUTES

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LESSON #1SEGMENT BASED ON DYNAMIC ATTRIBUTES

Traditionally, companies consider “industry” and “employee size” / “annual revenues” as meaningful segmentation criteria

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FINANCIAL SERVICES HEALTHCARE MANUFACTURING

IT Spend 2011All Categories | By Industry

MM



However, “Big Data” elements such as “job postings”prove a more meaningful segmentation dimension

9

>50% INCREASEIN JOB POSTINGS

0-10% INCREASEIN JOB POSTINGS

REDUCTIONIN JOB POSTINGS

IT Spend 2011All Categories | By “Job Posting” Segment

MM



New customer acquisition rates are higher at engagement opportunities

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PROSPECTS NOT OPERATING

AMIDST “ENGAGEMENT OPPORTUNITIES”

PROSPECTS OPERATING

AMIDST “ENGAGEMENT OPPORTUNITIES”

100% - 300%HIGHER

MM



11


1

PROVIDE FRONTLINEWITH DYNAMIC CONTEXT

2 PROPENSITYPROPENSITY

+CONTEXT

VS.

AS


LESSON #2PROVIDE FRONTLINE WITH DYNAMIC CONTENT

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Cross-Sell Conversion RateBusiness Services Example | 2-20 Employees

ENGAGEMENTOPPORTUNITY?

REP PROVIDEDCONTEXT?

NO

N/A

YES

NO

YES

YES

MM



13


1



+CONTEXT

VS.

MAKE CLIENTINTERACTIONS TIMELY

3DECAY

AS


LESSON #3MAKE YOUR INTERACTIONS TIMELY

There is a “decay” in response rate – likely due to the need being “filled” by alternative sources

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1-2 3-4 5-6 7-8 9-10 11-120

0.5

1

1.5

2

2.5

Elapsed Weeks Since “Engagement Opportunity”

Conv

ersi

on R

ate

per

Enga

gem

ent O

ppor

tuni

tyMM



15


1



+CONTEXT

VS.

MAKE YOUR CLIENTINTERACTIONS TIMELY

3DECAY

BE INTELLIGENTLYPERSISTENT

4

AS


LESSON #4BE “INTELLIGENTLY PERSISTENT”

Conversion rates follow a consistent curve – though the peak (n=5) and trough (n=15) vary by industry

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 200

0.5

1

1.5

2

2.5

Calls Received per Prospect

Conv

ersi

on R

ate

per C

all

MM

LATTICE Proprietary & Confidential 6

MANUFACTURING

$Y

5

X% CHANGE IN AVERAGE BALANCE

LEAD #3

01/03/12

Yes

…

MANUFACTURING

$Y

1


LEAD #1

No

No

…

MANUFACTURING

$Y

1


LEAD #2

No

Yes

…

YES YES YES

INDUSTRY

BALANCE

NUMBER OF NEW OFFICES IN 12 MOS.

OBSERVED CHANGE

NEW FINANCE EXECUTIVE

INTERNATIONAL TRADE

…

FIRST-TIME LEAD?

HIRING 75 (+50% QOQ)80 (-20% QOQ) 85 (+5% QOQ)

LESSON #4BE “INTELLIGENTLY PERSISTENT”

Inbound leads should be pursued with context-appropriatelevels of intensity

MM



18


1



+CONTEXT

VS.

MAKE YOUR CLIENTINTERACTIONS TIMELY

3DECAY

BE INTELLIGENTLYPERSISTENT

4

AS

how big data is transforming inside sales

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