Harnessing Data for Sales Success

Introduction to Denise Medved

In a recent episode of The Revenue Room™ podcast, Denise Medved, Chief Commercial Officer at Informa Markets North America, shared her extensive experience in leveraging data to drive sales strategies. With a rich background in B2B and B2C events, Denise has held executive roles in various organizations, including Money 2020 USA and the Consumer Technology Association. At Informa, she focuses on data-fueled revenue and profit acceleration, making her a pivotal figure in the evolving landscape of sales.

A Unique Career Path

Denise began her career with a finance degree from GeorgeWashington University, where she developed a keen understanding of numbers andtheir implications in business. However, her journey took an unexpected turnwhen she stumbled into the trade show industry. "I knew that I didn't wantto be in finance," she recalled, explaining her transition into sales andevents. This shift laid the foundation for her future success in understandinghow to connect data with sales outcomes.

The Role of Data in Sales Management

During the interview, Denise emphasized the critical role of data in sales management. She stated, "Data is not just numbers; it's the story behind the numbers that drives decision-making." This perspective underscores the importance of understanding data to craft effective sales strategies. By interpreting data trends and customer behaviors, sales teams can tailor their approaches to meet specific needs, ultimately driving better results.

Navigating Generational Differences

Denise also highlighted the generational differences in the workforce and their relationship with data. "We are in a transition period now where we still have people who didn't grow up on data, alongside those who did," she explained. This divide presents both challenges and opportunities for sales teams as they adapt to new tools and technologies. She noted that while some team members are digital natives who seamlessly integrate data into their workflows, others require more guidance and training to embrace these changes.

Normalizing Data Across Business Units

A significant part of her role involves normalizing data across various business units within Informa, which has grown through multiple acquisitions. "Unlocking all of that data so it becomes usable is a gigantic lift," she noted, pointing out the complexities of integrating different tech stacks and processes. With multiple instances of Salesforce and various other systems in play, Denise's mission is to create consistency in how data is managed and utilized across the organization.

Building Dashboards for Better Insights

One of the key strategies Denise employs is building dashboards that tell a story with the data. "If you help them understand how to use the data, particularly by building dashboards and telling the story for them, you get a whole lot more user adoption," she said. This approach not only enhances efficiency but also empowers sales teams to leverage data effectively. By providing clear visualizations and actionable insights, sales professionals can make informed decisions that drive growth.

Understanding Talent and Performance

Denise also discussed the importance of understanding the talent within the sales teams. By utilizing a talent assessment tool, she and her team were able to match individuals' instinctive behaviors with their job functions. "We could see how well someone’s natural affinity aligned with their performance data," she explained. This dual approach allowed them to identify the right people for the right roles, optimizing the overall effectiveness of the sales organization.

Streamlining Sales Processes

In her efforts to streamline processes, Denise tackled the challenge of excessive pipeline stages within the sales framework. "We went from 70 pipeline stages to just 7," she shared, illustrating her commitment to simplifying operations. By focusing on the essential elements of the sales process, she was able to create a more efficient system that enhances forecasting and reporting capabilities.

Fostering a Collaborative Culture 

Denise's insights extend beyond just data management; she also emphasizes the importance of fostering a culture of collaboration and open-mindedness. "You have to be very patient and learn from the younger generation," she advised, acknowledging the diverse work styles and philosophies present in today’s workforce. By encouraging mentorship and knowledge sharing, Denise aims to bridge the gap between different generations and create a cohesive team dynamic.

Conclusion: The Future of Data-Driven Sales

In conclusion, Denise Medved's insights on data and sales underscore the transformative power of data-driven strategies in today's business environment. Her expertise serves as a guiding light for organizations looking to harness the full potential of data to drive revenue growth. As she aptly put it, "Understanding how to leverage data is key to driving sales success." With leaders like Denise at the forefront, the future of sales is undoubtedly data-driven and poised for growth.

CEOs & C-Suite Executives in Media, Events, Data/Information & Marketplace Businesses

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Revenue Room Connect

Revenue Room Connect, an initiative by H2K Labs, is a platform that brings together industry leaders to share knowledge and insights about data, digital, AI, and revenue strategies in the B2B media and events space. Denise Medved's decision to join the Executive Advisory Board of Revenue Room Connect reflects her commitment to knowledge sharing and networking within the industry. As a board member, Medved brings her unique blend of experience from Informa and the Consumer Technology Association, offering valuable perspectives on data-based storytelling and process management. The platform provides an opportunity for executives like Medved to engage with other curious and innovative minds, fostering an environment of mutual learning and growth. Through initiatives like RevvedUP and Lunch Lab events, Revenue Room Connect aims to drive discussions and strategies that can help B2B media companies navigate the evolving landscape of data-driven business models and revenue acceleration.