Introduction to Denise Medved
In a recent episode of The Revenue Room™ podcast, DeniseMedved, Chief Commercial Officer at Informa Markets North America, shared herextensive experience in leveraging data to drive sales strategies. With a richbackground in B2B and B2C events, Denise has held executive roles in variousorganizations, including Money 2020 USA and the Consumer TechnologyAssociation. At Informa, she focuses on data-fueled revenue and profitacceleration, 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 ofdata in sales management. She stated, "Data is not just numbers; it's thestory behind the numbers that drives decision-making." This perspectiveunderscores the importance of understanding data to craft effective salesstrategies. By interpreting data trends and customer behaviors, sales teams cantailor their approaches to meet specific needs, ultimately driving betterresults.
Navigating Generational Differences
Denise also highlighted the generational differences in theworkforce and their relationship with data. "We are in a transition periodnow where we still have people who didn't grow up on data, alongside those whodid," she explained. This divide presents both challenges andopportunities for sales teams as they adapt to new tools and technologies. Shenoted that while some team members are digital natives who seamlessly integratedata into their workflows, others require more guidance and training to embracethese changes.
Normalizing Data Across Business Units
A significant part of her role involves normalizing dataacross various business units within Informa, which has grown through multipleacquisitions. "Unlocking all of that data so it becomes usable is agigantic lift," she noted, pointing out the complexities of integratingdifferent tech stacks and processes. With multiple instances of Salesforce andvarious other systems in play, Denise's mission is to create consistency in howdata is managed and utilized across the organization.
Building Dashboards for Better Insights
One of the key strategies Denise employs is buildingdashboards that tell a story with the data. "If you help them understandhow to use the data, particularly by building dashboards and telling the storyfor them, you get a whole lot more user adoption," she said. This approachnot only enhances efficiency but also empowers sales teams to leverage dataeffectively. By providing clear visualizations and actionable insights, salesprofessionals can make informed decisions that drive growth.
Understanding Talent and Performance
Denise also discussed the importance of understanding thetalent within the sales teams. By utilizing a talent assessment tool, she andher team were able to match individuals' instinctive behaviors with their jobfunctions. "We could see how well someone’s natural affinity aligned withtheir performance data," she explained. This dual approach allowed them toidentify the right people for the right roles, optimizing the overalleffectiveness of the sales organization.
Streamlining Sales Processes
In her efforts to streamline processes, Denise tackled thechallenge of excessive pipeline stages within the sales framework. "Wewent from 70 pipeline stages to just 7," she shared, illustrating hercommitment to simplifying operations. By focusing on the essential elements ofthe sales process, she was able to create a more efficient system that enhancesforecasting and reporting capabilities.
Fostering a Collaborative Culture
Denise's insights extend beyond just data management; shealso emphasizes the importance of fostering a culture of collaboration andopen-mindedness. "You have to be very patient and learn from the youngergeneration," she advised, acknowledging the diverse work styles andphilosophies present in today’s workforce. By encouraging mentorship andknowledge sharing, Denise aims to bridge the gap between different generationsand create a cohesive team dynamic.
Conclusion: The Future of Data-Driven Sales
In conclusion, Denise Medved's insights on data and sales underscorethe transformative power of data-driven strategies in today's businessenvironment. Her expertise serves as a guiding light for organizations lookingto harness the full potential of data to drive revenue growth. As she aptly putit, "Understanding how to leverage data is key to driving salessuccess." With leaders like Denise at the forefront, the future of salesis undoubtedly data-driven and poised for growth.
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. Nino Tasca's decision to join the Executive Advisory Board of Revenue Room Connect reflects his commitment to knowledge sharing and networking within the industry. As a board member, Tasca brings his unique blend of experience from both Google and traditional B2B media companies, offering valuable perspectives on data transformation and AI integration. The platform provides an opportunity for executives like Tasca 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.
