When we launched Hive Perform to a sales team of 900 reps, our goal was simple: tap into the wealth of knowledge that already existed within the team but was locked away in manual, ad hoc, and unscalable processes.
Without adding new resources or materials, Hive Perform provided a platform for reps to engage in meaningful practice scenarios, discussions, and real-time sharing of sales strategies. What happened next was a game-changer.
We saw a 47% increase in sales performance and a 36-day reduction in the time it took new reps to make their first sale.
The real magic happened though when we analyzed 5,000 conversations taking place between sales reps on Hive Perform. These conversations were brimming with sales strategies, success stories, and problem-solving insights that had previously been difficult to capture and utilize. From this analysis, we uncovered 10 core conversational themes that were driving these impressive results.
These conversations highlighted something powerful: the wealth of tacit knowledge within sales teams—knowledge that can only be gained from those who are “in the trenches” day in and day out.
Traditionally, this kind of insight is difficult to scale and apply to other reps, particularly new hires. However, Hive Perform changed that by creating a solution where reps could regularly share, practice, and refine their techniques.
From Experience to Mastery: The Importance of Practice
Experience alone is no longer enough. Sales reps need regular practice to stay sharp and adapt to the changing market conditions. Without continuous practice, even the most experienced reps risk falling behind. The ongoing conversations within Hive Perform made it clear that practice is essential for mastering the skills needed to execute effectively every day.
But it’s not just the reps who need to stay sharp. Organizations must also continuously provide resources that are relevant and aligned with what reps actually need. This is where the challenge lies: identifying those needs and delivering resources that are helpful timely and practical. Without this alignment, reps won’t engage, and the opportunity for performance gains is lost.
The Continuous Improvement Loop: A New Way Forward
Hive Perform didn’t just provide a space for conversations—it created a feedback loop of continuous improvement. Reps practice, share knowledge, and refine their strategies in real-time. This ongoing practice allows for the skills and insights needed to stay ahead in a changing market. The insights gained from analyzing these conversations formed the foundation for leaders to take action.
With only 5% of the sales team in management positions, the traditional methods of cascading information through sales managers or using outdated tools to share knowledge were no longer sufficient.
Prior to Hive Perform, capturing the invaluable knowledge within the team and feeding it back into the sales engine was next to impossible.
Now, with access to these insights, sales leaders could reframe how they talk about products, zero in on key upsell and cross-sell opportunities, and pass this knowledge directly back to their teams. This allowed reps to go forth with a continuously iterating strategy, ready to capitalize on the latest tactics and trends.
So what were the 10 essential ingredients?
1.Real-time product performance insights
2.Product hacks, techniques, and tips to increase customer impact
3.Exchange of customer preferences and trends
4.Quick dissemination of promotional information
5.Collaborative problem-solving and advice from peers facing similar challenges
6.Successful product pairing suggestions for upsell and cross-sell opportunities
7.Ongoing brand and product education
8.Visual positioning and pitching idea exchange
9.Customer service best practice sharing
10.Competitive product intelligence and quicker sharing of competitor moves
The Power of Insights in Action
The story of Hive Perform’s impact doesn’t end with uncovering these valuable insights. Armed with this newfound knowledge, sales leaders are now poised to stay ahead of their strategies and align their teams with unprecedented precision.
The key takeaway is clear: by capturing and scaling the tacit knowledge within your team, you can democratize performance gains across your entire sales force.
Hive Perform has created a foundation for ongoing sales success by facilitating continuous practice and providing resources that directly address real-world needs.
Looking Ahead: Transforming Insights into Strategy
In the next in series, we’ll explore how leaders are taking these powerful insights and turning them into actionable strategies. We’ll dive deep into:
How sales managers are using data-driven approaches to reshape their coaching methods
The creation of adaptive training programs that evolve with market trends
Innovative ways to incentivize knowledge-sharing and collaborative problem-solving
Techniques for rapidly disseminating successful strategies across large sales teams
By leveraging the collective wisdom of their sales force, organizations are not just improving performance—they’re reimagining what’s possible.
Stay tuned as we continue to unpack the transformative power of continuous learning and practice in the world of sales. The journey from insights to action promises to reveal even more exciting opportunities for growth and innovation.
