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Accordion 1
Review existing styles
Align with management objectives
Reset expectations
Convert user feedback to better solution
Train, monitor, and modify as needed.
Review annual plans
Standardize expectations
Customize GBS Model
Implement WASPR coaching tool
Measure and Modify as needed
Review historical training
Build complementary program
Customize training materials
Embed best practices into daily practice
Qualify project against checklist for success
Increase user adoption rates
Minimize mandates for producers
Standardize tasks by function
Automate proposals and reporting
Stop the guessing game
Identify mile markers
Adopt GBS pipeline strategy
Automate reporting
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“What deals do you think you’re going to close this quarter”, and, “What’s hot this month”, are questions front line managers ask their producers regularly.
“Your report only shows your hot and warm prospects”, is another.
There are 3 important factors missing from most pipeline strategies, that together, prevent accurate forecasting:
1. Objectivity. Currently, all forecasts are based on subjectivity of each producer and how they feel their opportunities will close when, and for how much. This keeps managers guessing every month, every quarter, every year and forecasting remains a permanent guessing game which, in turn, prevents growth.
2. Counting the wrong things. Giving weight to opportunities (50% chance; 80% chance...etc.,) does nothing but propel the guessing game. There's always more productivity when you only count activities that have already happened. Each stage has milestones to be achieved. Only when those milestones are met, can any reliable weight be given. Forecasting opportunities with any weight before a proposal is written gives false hope and actually lowers sales performance.
3. Identifying and tracking the buying cycle of the prospect. Closing ratios remain low when proposals are delivered that are not in sync with the buying cycle of the prospect. Not understanding the buying cycle reduces the performance of most producers and prevents bankable forecasts. Most companies plan and budget for purchases ahead of time.
Companies that achieve sustained growth use different language.
“I see that your deal with ABC company is progressing nicely. What additional help can I give you to reach the next step?” “When I reviewed your pipeline, it sure looks like you’ll meet your quota this quarter. Will you go for the extra bonus now, or roll over the XYZ opportunity to next quarter?”
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