Applying Moneyball Principles to Achieve Sales Growth

Marketing and Sales are Awful image

So what does baseball have to do with sales? Well the story of Moneyball tells how an analytical, evidence, and metric based approach was used to achieve success. It also happens to be the story of how the Oakland Athletics transformed their team by re-evaluating traditional baseball strategies that lead to wins.

The A’s came up with a new strategy based upon the resources that were available to them. One of the approaches of their new strategy was to recruit under-valued players in the league. This saved them money, but still put them in a good position because even though the players were not highly sought after, they were still good. This new strategy paid off by taking the team to the playoffs in 2002, 2003, 2006, 2012, 2013, 2014 and 2018.

The Secret to Moneyball Success

The A’s identified and broke down key processes and the metrics required to understanding those processes. If one takes those processes and metrics that they used in their strategizing and analyzing, and stripped them of the baseball quality, it is easy to transpose their methods to sales performance.

Can You Answer These Moneyball (metric based) Questions for Your Company?

  • What is your new top-line revenue goal for 2020?
  • Do you know how many leads, meetings, proposals, and closures it will take to achieve your goal?
  • Do you know your 3-key sales process ratios: leads-to-meetings, meetings-to-proposals, and proposals-to-close? Do you know which way these ratios are trending?
  • What is the accuracy rate of your forecasted sales closure? (Forecasted close date to actual close date)
  • Are you confident your current plan will achieve your goals? What data gives you that?
  • Do you know which area of your sales process is the biggest constraint to achieving your goal?

If you would like to learn more about the Moneyball Principles that you can apply to your organization get in touch and schedule a discussion with me.

Steve Talks to Bob About CRM

In my 40 years of working with technology and the last six spent providing Digital Marketing services to small industrial clients I have learned that investing in sales and marketing technologies is not in the forefront of most of my clients minds.

Most of these clients have had success online generating new leads sometimes for as diverse set of offerings as Cremation Ovens or Cryogenic Pumps. Sometimes it is not that these client are adverse to investing in new tools (like CRM and Marketing Automation) it is just that they lack any knowledge or information around them.

That is what spawned my interest to do a series of short audio bites (10 minutes are less) to help them gain a quick piece of knowledge around a topic and then they can weave it into the planing efforts of their business. I call these the Steve Talks Topodcasts.

In this episode of Steve Talks To, Bob Sullivan from InfoGrow talks about CRM Software. Bob and his company have over 25 years of practical experience helping companies choose and leverage CRM for improved business results. Some of the questions discussed include:

What is CRM and how does it help my business?

How do I know if I should invest in CRM? What makes my business a good candidate for it.

I have survived without it this long, why should I consider it now?

What does it cost? How do I evaluate CRM providers?

What are the steps to implementing it, how long does it take. And more…

Take a listen…