Is your sales team missing quota due to poor focus? Are your sales forecasts constantly inaccurate? In this blog post we highlight how predictive deal scoring can help prioritize high-potential deals, identify warning signals and enhance forecasting accuracy.
What is predictive deal scoring?
Predictive deal scoring leverages data and predictive models to forecast the probability of success for individual sales opportunities. It enables sales teams to prioritize opportunities, allocate resources efficiently and make informed decisions to improve their win rates and overall sales performance.
It goes beyond traditional deal scoring by incorporating historical data, customer behavior patterns, and various predictive models to generate a probability or score indicating the likelihood of closing a deal successfully.
Deal scores can be used to prioritize deals and create accurate sales forecasts.
What are the key benefits of predictive deal scoring?
Enhanced forecasting accuracy
By leveraging data and advanced analytics techniques, predictive deal scoring provides more accurate forecasts of deal outcomes compared to traditional methods, reducing guesswork and improving overall forecasting accuracy.
Better resource allocation
Predictive deal scoring enables sales teams to allocate their time and resources more effectively by focusing on deals with higher probabilities of success. This improves efficiency and increases the likelihood of achieving sales targets.
Early risk detection
Predictive models can identify potential risks or warning signs associated with a deal. This allows sales teams to take proactive measures to mitigate risks, address customer concerns or adjust their sales strategies accordingly.
Sales process optimization
Predictive deal scoring can provide insights into the effectiveness of different sales activities and strategies. By analyzing historical data, organizations can identify best practices, refine their sales processes and make data-driven decisions to improve overall sales performance.
Dear Lucy’s predictive deal score
Dear Lucy’s deal score comprises of a vast amount of variables that deliver a score from 0-100. Each deal is analyzed in real-time leveraging your CRM data, like Salesforce, Microsoft Dynamics, Hubspot and Pipedrive.
Key variables having significant impact on deal outcomes consist of factors such as deal value and stage, customer engagement and engagement trends, opportunity lifetime and close date, sales rep performance, lead source, relationships and customer history and future interaction. Score variables and scoring models are customized for each client based on the sources and amount of data.
Deal scores can be used to prioritize and rank deals, focus resources on high-potential opportunities, and identify areas of concern or risk.
Interested?
Dear Lucy offers powerful sales insights across sales solutions like Salesforce, Microsoft, HubSpot and Pipedrive. Book a session with our expert to learn more!