The Sales Genome
In this lesson, we’ll explore how you can map and analyze all of your sales activities at scale.
How can you uncover the critical elements that impact your sales?
If you can dig into a key factor and identify how it’s influencing your sales performance, you’re on the right track to determine how you should invest your time and effort. However, if you’re a sales leader trying to analyze a multitude of sales activities occurring every day, the biggest challenge you face is figuring out which factors play a critical role in driving sales growth.
So what should you do?
The sales leaders of the future
Imagine if you were able to look at each opportunity in your sales pipeline and craft the perfect sales experience to win every deal.
While this seems impossible to do at scale, sales leaders of the future are already leveraging tools to help them predict which prospects to pursue, how to win them over, and how to best structure deals to hit their sales goals 100% of the time.
In order to survive in today’s competitive landscape, you will be tested by how well your company can adapt and respond to change.
How prepared are you to survive?
Generate insights at scale
There are a multitude of factors—both big and small—that influence whether you win or lose a deal.
Your ability to measure and predict the significance of these factors, or dimensions, can go a long way to adapt and improve your sales strategy.
To do this would require complete visibility into your sales team’s performance and sales pipeline, as well as an accurate way to collect, measure and analyze the most important dimensions influencing your sales.
So what are you doing today to generate insights at scale?
The Sales Genome Project
At Base, we’ve made this possible by creating the Sales Genome, the DNA of a company’s sales activities. Base has spent thousands of hours decoding sales data and building a software platform to analyze and find the fundamental components that drive sales.
With a complete codification of your sales data and activities, sales leaders can analyze and act on their sales in predictive ways that were unavailable before.
So what are the building blocks of the Sales Genome?
Breaking down the genome of sales
The Sales Genome represents all of the known factors that impact your sales.
From the moment you identify prospects to the final closure of a deal, there are a multitude of dimensions that can be tracked and measured along this journey.
If you put your sales under the microscope, you would start to see these factors associated with three key general categories: Prospects (input), Deals (output), and your Sales Strategy.
Let’s take a deeper look to see which dimensions could be impacting your sales.
What makes one prospect different from another?
As Mark Cranney from Andreessen Horowitz puts it, selling to an enterprise business is like trying to pass a bill through congress. Not only do you have to convince the buyers of the value of your service/product, you’re also navigating through their purchasing process, however complex or ill-defined it may be.
If we take a closer look at what makes up a prospect, there are a fair amount of factors that can contribute to the Sales Genome. For instance, prospect dimensions can consist of:
• Firmographic Attributes: A set of business characteristics unique to each prospect
• Search Attributes: How a prospect connected with your organization
• Needs Attributes: The goals of your prospect and core necessities driving their search
What makes one deal different from another?
A deal is ultimately the outcome of an opportunity with a prospective customer. Whether it’s won, lost or disqualified, understanding the dimensions that make up a deal can reveal a lot of actionable insights.
If we take a closer look at what makes up a deal, you can see:
• Product Attributes: The characteristics of a product under consideration
• Deal value Attributes: The characteristics of a deal under consideration
Sales Strategy Dimensions
What are the building blocks of your sales strategy?
Your sales strategy embodies the plan of action designed to close deals and achieve your sales revenue goal.
As a sales leader, it’s your responsibility to determine how to create and refine this strategy by the means of 1) a sales team and 2) the sales process(es) you put in place.
Ultimately, your sales strategy has its own unique set of dimensions that help make up the Sales Genome.
Let’s explore them below:
Sales Rep dimensions
What makes one sales rep different from another?
A sales representative is a person employed to represent a business and sell its products and/or services. Sales reps are ultimately the front-line executors of your sales strategy, engaging with prospects and creating deal value.
Sales representatives vary by a wide variety of dimensions. Consider the potential significance of the following:
• Background Attributes: A set of characteristics about a sales rep
• Role in Company Attributes: A set of characteristics about a rep’s position
Sales Process dimensions
What makes one sales process different from another?
A sales process is a concrete set of stages your sales team follows to convert a lead into an opportunity, and convert an opportunity into a closed deal. Some organizations may have multiple processes depending on the prospect, and processes can change over time.
With that in mind, consider the various dimensions of a sales process by which you can analyze the execution of your sales processes:
• Communication Attributes: A set of characteristics about touchpoints between prospects and your sales team
• Key Action Attributes: A set of characteristics about activities completed at each stage of your sales process
Build Your Company’s Sales Genome
Now that you know the basic building blocks of a Sales Genome, it’s time to start mapping the unique Sales Genome for your company. To do this, you need to determine which factors you want to track and see how they impact your sales.
Depending on the sales platform your company uses, there are limitations to what you are able to track. Nevertheless, highlighting which of the key dimensions you’re interested in measuring can help you begin to unlock your company’s Sales Genome.
To help you setup your custom Sales Genome, set up a free consultation with one of our science of sales experts.
Need help defining your custom Sales Genome?Learn more
Analyze your Sales Genome
The Sales Genome is a standardized framework for analyzing sales. It allows you to:
• Take stock and measure every important dimension of your sales performance
• Recognize which dimensions are most significant and predictive in sales outcomes
• Highlight potential courses of action to increase sales
By systematically applying this technique of analysis to your sales pipeline, you will be better equipped to respond to changes in the marketplace and adjust your sales strategy accordingly.
Introducing Apollo by Base
Base has recently launched the only sales science platform that delivers quantifiable and actionable insights, automatically analyzing millions of data points across your sales activities.
To uncover the steps you can take to drive sales growth with Apollo, request access here:
Check out Apollo
Lesson #4 Summary: The Sales Genome
To get started, you should identify the core dimensions you want to track to analyze your sales productivity. The future of sales is having the ability to adapt to change. Your Sales Genome represents the DNA of your company’s unique sales activities, allowing you to continuously measure and analyze the key factors influencing your sales and, as a result, adjust your sales strategy to exceed your sales revenue goal.
The New Sales Metrics
In this lesson, we’ll explore the modern sales metrics that data-driven sales leaders use to extract key insights.