How top performers outpace peers in sales productivity
Once I picked up that data-driven decisions are the way to create a real business need, I swore to leverage any source of business intelligence I could. The right information could improve my brand as an artist, my platform for sharing content, as well as projects I find myself a part of.
Enter $HIVE. Sharing quality content has always been an art form to me; I felt that Instagram wasn't the place to accomplish that early on. Web3 offered an alternative to extractive social media, with generative social media. Here, your content is rewarded thanks to a community leveraging their stake to award a portion of regular rewards pool. That way, quality content surfaces, while poor work sinks.
Enter $TURBO. A web3 project like any other, except for its unique origin story. An artist leveraged AI as a tool to create a cryptocurrency from scratch, to draw attention to his artwork. After successfully attracting that attention, the people remaining from that onslaught of interest, are doing what they can, unified by their attraction to an interesting story and endless possibilities.
Recording my regular work here, while sharing it for $TURBO and transparency reasons, I can create a positive feedback loop.
With all that explained, here's some insights I took away. Sales teams' improve thanks to automation. If you're losing interest, wasting time, or exploiting contributors, you're not using it right.
Watch closely
What could differences in productivity mean? Take a look at this.
McKinsey analysis of nearly 500 B2B companies across industries has found that those in the top quartile are significantly outpacing their peers in productivity—generating roughly two-and-a-half times higher gross margin than the bottom quartile for every dollar they are investing in sales (Exhibit 1).
Imagine if your project actually invested in sales?
When you think how to improve, think like a CEO.
For the answer, we looked at the practices that set outperforming B2B sales organizations apart—what they do differently and what capabilities they are prioritizing.
The results point to 3 areas:
- they free up seller time for customer-facing activities
- they prioritize the most valuable opportunities
- they do a better job developing high-performing talent
What could that mean for projects I'm in?
- spend more time creating customer-facing activities
- prioritize the most valuable opportunities
- do a better job attracting and retaining high-performing talent
Most people I've spoken to are burnt out, unrewarded and contemplating their exit. Incentives are critical for keeping people around.
For $TURBO, AI is important, but they're following the law of the hammer. "When all you have is a hammer, everything else is a nail."
I am in the process of welcoming users to $HIVE. I am attracting and trying to retain high-performing talent. I guide my process with these business insights for ideally, the best result.
Radically offload and automate non-sales activities
There's a lot of tasks involved in growing projects. $HIVE has a 'stickiness' problem. $TURBO lacks delegation and structure. Connecting the two communities might work wonders.
If automation can free up 20% of a sales team's capacity, what could it do for crypto projects?
- Lead qualification - Many people come offering help, while seeking incentives. What if we structured and facilitated promotion?
- Opportunity management - It's hard to pay attention to every opportunity. Network effects come from growing groups, thus, deciding on the right groups to join is important.
Ruthlessly focus on the most valuable opportunities
Data created by @wildalps shows something important about $TURBO. Creating a Council did not impress audiences enough to participate.
Here, another quote from the article explains how removing things that aren't working is a part of good leadership. Curious to see how the current leaders in $TURBO argue for the Council.
Leaders also turn the analytics lens on themselves... to assess where reps are spending their time, so they can realign account coverage and address missed opportunities. Those insights can help with alignment, flagging areas where reps may be spending too much or too little time relative to the size of the opportunity.
Successful increases in engagement involved calling community members to action. Sadly, the participation is decreasing. The last Snapshot featured only 24 votes, 2 of which were mine.
Opportunities $TURBO can use:
- metopia_xyz Badges
- remx Community pages
- $HIVE to publish and earn
- $OCEAN to collect data and earn
- Manifold to promote artists' mints
Cultivate and motivate high-performing talent
Some would have you believe incentivizing participation is illegal. Have a look at what the professionals are doing.
To encourage engagement, the company created a certification program for direct sellers and external agents that included gamified components and financial and non-financial rewards. The training proved wildly popular—achieving an average net promoter score of 60 and a 10 percent increase in deal size per rep.
Just listen to what Creative Director Ruben Cress had to say about $HIVE.
Posting weekly transparency reports about progress concerning your project could generate rewards that go towards a treasury account. The treasury could then be split amongst the users contributing most to achieving the opportunities specific to your project.
I hope to encourage to participate in the next stage of $TURBO: BOOST.
Building
On
Other
Secure
Technology
Long story short, I am working with a select group, one at a time, to lead them onto another web3 protocol to build initiatives, rewards, and sustainable, business-like growth.
To hit top performance, I'm:
- automating non-sales activities
- focusing on the most valuable opportunities
- picking and rewarding the most active talent
What do you think? @Jotnheimr @proveritas @rubencress