Answering These Five Essential Questions Can Completely Change Your Business
You may have heard me talk about “The Five Essential Questions” from time to time. It’s a concept that occurred to me as I was building a growth strategy for MapAnything a few years ago. Over time, the Five Essential Questions have become a framework that I use to set goals and measure success, especially in the revenue-generating engine of the company, which is sales. The framework isn’t magical. It’s logical and reliable, if you get it right.
- How many reps to I need?
- Where do they need to be?
- How do I make each rep as productive as possible?
- Which customers have my reps actually seen?
- What is the result of each customer touch?
How many reps?
Hiring more reps to do more meetings is not necessarily the right strategy for increasing revenue. Rather, I prefer an intelligent prioritization strategy that assures face to face contact with the most valuable customers and prospects at the right cadence. To do this you need an integrated CRM and Location of Things (LoT) system. CRM tells you who to visit, and LoT tells you the most efficient schedule and routes to take to make the journey. Once you know this, you can determine how many reps are required to serve your highest revenue customers, while building momentum with tier 2 and tier 3 priority customers along the way.
Where do they need to be?
Location of Things technology helps reps meet with highest value customers while reducing windshield time. Once you know how many reps you need, LoT can help you define territories based on actual customer location, customer priority and route efficiency. We’ve found that adding route intelligence to territory planning reduces the number of reps needed while increasing the production of each. LoT technology also shows the location of prospects within territories so that reps can make down-time more productive with nearby prospect visits.
What’s the fastest route to customers?
It’s proven that field teams that use route planning software can achieve an average of 13% increase in stops per day by avoiding congestion and weather delays. Productivity is one thing, but hard dollar savings is another. Traffic congestion costs $27bn in lost time and fuel costs alone. Intelligent route planning is essential to efficient growth.
Which customers have my reps really seen?
Automatic updates to CRM through geo fencing adds accountability to field operations. Further, the real-time availability of CRM data within the integrated schedule in MapAnything makes each visit as productive as possible.
What was accomplished?
By understanding the link between LoT and revenue, sales leaders are able to track actual sales activity tied to results. For companies where asset management is key, field operations can track the location of revenue-generating assets like vehicles or waste bins, or heavy equipment. Again, assuring the most productive use of each asset.
MapAnything customer BlueLine Rental increased customers touched by 50% within a year and increase daily customer visits from 10 to 15 using intelligent routing.
We also invite you to dive into Five Essential Questions by reading our past blogs on the topic:
By: John Stewart
CEO at MapAnything