Capturing and Leveraging Lead Measures

Challenge:

Inadequate tracking of leading sales activity created an environment which lacked accountability and limited coaching to subjective conversations based on direct observation. Across the organization there were inconsistencies regarding what to track, how to track it, and how to use the data to improve results. Prior efforts to solve this problem were isolated and provided little or no helpful intelligence. In an entrepreneurial culture a top down approach would not work--any effective solution had to successfully encourage voluntary participation.

Solution:

Identified key leading measures not being tracked and developed an easy-to-use mobile solution for sales activity data collection across the organization. Used data to generate automated reporting on high and low performers and to identify areas where advisors can improve such as close rate, net new assets per meeting, meetings per new client, etc. In addition to the primary functionality, the tool included a new, easy-to-use company directory. That, in combination with leadership buy-in and consistent roll-out strategy resulted in a 80% participation rate.