The Pit-Crew: A New Standard For Team Performance
Re-Thinking Strategy To Grow Faster
Measuring performance can be tricky. Predicting it is even more difficult. But the application of science and in particular the use of algorithms can overcome these challenges. The Growth Pitstop™ accurately measures the present and future performance of a person, team or organization using a algorithm.
success has many variables and these vary from industry to industry and from person to person. The Growth Pitstop™ makes sense out of this complexity thanks to a powerful algorithm and sophisticated analysis.
The Importance Of Analysis
Selling is complex. Any performance solution must take account of different:
- Industries, markets and geographies, including the level of competition and customer sophistication.
- Lengths of cycle, win rates and average order values among teams.
All this means that an accurate assessment of performance and potential relies on the ability to capture data that reflects the specific opportunities and challenges of each organization.
Speedy Data Gathering
Each person on the team completes a 24 min online assessment. That is the means by which The Growth Pitstop™ captures a mass of powerful data – for a team of 50 people it amounts to almost 5,500 data points. It provides a 360 degree view of B2B performance: measuring skills, process effectiveness and the key behaviors that impact on revenue performance.
The Algorithm And The Magic
A sophisticated algorithm at the core of The Growth Pitstop™ does the behind the scenes ‘heavy lifting' in terms of data, and a little bit of magic too. To find out more let's look at how The PitStop works for a organization and then for the individuals within the team. First the data is analyzed at a group level to profile the team in terms of its strengths and weaknesses, as well as opportunities and threats. It finds patterns and pin-points what matters most to the team's overall performance. Next, how the team competes in the marketplace is analyzed by comparison with peer and best practice data. The algorithm extrapolates metrics data (e.g. conversion rates and activity levels). The organization and team level analysis is only the start of the process – as we will see another level of analysis takes place at an individual level, the person.
No Two people Are The Same
We often say that ‘no two people are the same' and there is a good statistical reason behind it. Given the way The Growth Pitstop™ profiles each person the chances of two people being the same is 1 in 8 million (or 8,587,340,257 to be exact). Those are similar to the odds of a lottery win! The Growth Pitstop™ generates a unique profile for each member of the team in order to:
- Show what they do well and what they could improve across all stages of the sale.
- Identify techniques used and not used.
- Reveals confidence in meeting target, what they really think of the approach of the company and what they feel the priorities should be.
- Analyze each person's understanding of their metrics (incl. conversion rates and activity levels).
This level of granular detail makes pin-pinpointing areas for improvement, such as new skills or changes in behavior, surprisingly straight-forward.
Insights Not Data
In this age of modern computing the analysis and manipulation of data is something that can be easily taken for granted. Besides too much data can easily lead to analysis paralysis and information overload. The real cleverness of The Growth Pitstop™ is not in its ability to handle lots of data, but rather to present information in a way that leads to new insights on performance and potential. Rather than generating lengthy reports with graphs and tables, The Growth Pitstop™ presents its complex data in the most navigable manner possible- that is in the form of visual maps, circuits and infographics.
The Growth Pitstop™ measures performance in terms of 97 important variables. Those are carefully chosen because of their correlation with success. That is to say the responses to the assessment questions predict success or prevent failure.
Clever Metrics Calculations
The Growth Pitstop™ takes your target and related metrics to do 2 key things: 1. It works back from the target using your metrics to determine if there is enough activity at existing conversion rates. 2. It takes areas that offer potential for improvement and works forward to calculate the impact on your target. That is the power of predictive analysis – it enables sellers to see the impact on new skills or techniques on the attainment of their target.
The Underlying Research
The predictive power of the algorithm derives from the variables being measured and their direct bearing on success. It took more than 5 years of research with the top 15% of people across almost 40 markets to identify the 97 key success factors in selling as measured by The Process Pitstop™. Grouped neatly into 5 stages and 16 steps they corresponds to proven characteristics behaviors and techniques of top performers. They address over 95% of the challenges faced during the cycle. Incidentally, there are an additional 109 variables measured in the The Strategy Pitstop®. The research underlying SellerNAV® has been so extensive that it has spawned 3 published books; QuickWin B2B (2010), The B2B Revolution (2011) and Selling In The Cloud (2014). To ensure a comprehensive view of performance SellerNAV® integrates an ‘other side of the table' view based on industry-leading research with buyers. That is what buyers want from sellers as well those strategies and techniques that get purchase orders sanctioned. Some of that research can be seen at the Buyer-Seller Insights. In this way research has broken some new ground – been recognized as leading the field globally in terms of the requirements of selling to sophisticated buyers and procurement (ES Research, USA 2013). Click here to download the algorithm infographic.
SOLUTIONS & SERVICES: Here are some of the ways that our research & insights are put to work by our clients: