More Revenue Will Solve All Your Problems: Try This Data Driven B2B Sales Growth Formula Today
Although CEOs and CROs at startups, scaleups, and corporations have very different resources to solve problems and drive revenue, working with growth leaders is always rewarding.
In March 2024, I was asked to run a B2B Sales Workshop at KX Knowledge Xchange Techbite Startup Acceleration Program.
It was time to get back to basics and think how to help any company increase sales with data driven approach.
Moreover, I wanted to share a few insights with everyone.
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Unlock Next Level Sales Performance with simple Data Driven B2B Sales Formula
Drawing from my experience with leading software sales organizations worldwide and collaborating with sales leaders across industries and regions, I've gained valuable insights.
One of them is that
MORE REVENUE will always solve all your problems.
A great goal for any company is to try to build a predictable sales machine that generates results day after day, quarter after quarter.
It lowers the dependence on independent sales rainmakers, and you life at the C-level is much much better with an accurate forecast.
How is your machine running?
How is the Q2 Forecast?
How much pipeline do you need to hit the quota for this Fiscal Year?
In order to get there, you probably need to rethink how are you actually building pipeline, closing deals, and coaching sales teams.
Start from the basics:
Sales Management Basics: Building Pipeline.
For lead generation, startups typically need to turn to social media to generate awareness, organic demand, and engagement with ideal customers. LinkedIn is actually a great channel for it.
Avoiding outbound lead generation (prospecting) is maybe the easiest way to fail the business. So find a way to open conversations, get the meetings, and then progress the deals. Closing complex B2B sales is both art and science.
Scaleups and Corporations should have enough data about their sales metrics and process, so they can boost Revenue by focus on improving these 4 elements:
The Grand Formula of Sales Performance.
First, try to improve Average Deal Size (€).
It's all about maximizing the value of every transaction. Think about upselling, cross-selling, and offering premium solutions to your clients.
Next, try to ramp up Deal Volume (#).
Maybe that means expanding the reach, tapping into new potential markets and segments, and making the most of every lead that comes your way.
Then shorten the Deal Cycles (days).
The more you streamline and automate, the more momentum your sales reps actually have for closing deals in the quarter.
Finally, Boost the Win Rate (%).
That means understanding your competition and customers inside-out, tailoring the approach to deliver business value. AND NOT LOSING, because you have built trust, and understand the full game you play.
Here are few examples how to improve...
The Grand Formula of Sales Performance with Examples.
The next question is, where do you have this data available for decision making?
Get More Insights:
If you want to learn more, send a message to ceo@grandiceberg.com to receive a numeric example of using this formula to grow business +154% by boosting each element only +20%.
Conclusions
Whether you are a CEO or CRO (Chief Revenue Officer), or a new Sales Leader, I hope this simple formula is going to help you quickly analyse the current situation, and have a data driven conversation with your sales team.
🔥 Build Pipeline.
🔥 Close Pipeline.
🔥 Happy Selling!
“If your sales machine is not yet running on CRM, my prediction is that you are missing out on the #AI opportunities too.”
