Ignite Flashcards
(41 cards)
Q: What is the business problem in Project Ignite?
A: Sales process inefficiencies (manual workflows, disconnected systems, lack of actionable KPIs).
Q: What is the program solution in Project Ignite?
A: Sales transformation (CRM improvement), product analysis (market alignment), and market expansion (growth into new regions).
Q: What are the consequences of inaction for Project Ignite?
A: Revenue shortfalls, high churn, operational inefficiencies, and competitive disadvantages.
Q: What are the program objectives in Project Ignite?
A:
Increase customer retention by 15%.
Reduce sales cycle time by 20%.
Achieve $35M in revenue growth by FY25.
Q: What are the benefits of Project Ignite?
A:
Revenue growth: Generate $35M by FY25.
Efficiency: Lower operational costs, faster lead conversion, automation of manual processes.
Customer experience: Improved retention, AI-driven insights, personalized experience.
Scalability: AI, automation, and real-time data for future technological advancements.
Q: How will Project Ignite achieve $35M in revenue growth by FY25?
A:
Sales transformation: Reduce sales cycle time by 20%.
Enhanced sales capabilities: Better tools and training.
AI integration: Streamline workflows and reduce manual tasks.
Product analysis: Align with market demands and innovate.
Market expansion: Generate $25M from Amplified and $10M from Premium Local.
Customer retention: Improve engagement with AI-driven experiences.
Actionable KPIs: Real-time metrics like closing ratios and proposals per rep.
Q: What are the key metrics (KPIs) for Project Ignite?
A:
Proposals per Sales Rep (monthly average).
Closing Ratio (proposals to sales conversion).
Customer Retention (average contract term).
Close Ratio for New vs Renewal business.
Q: What are the success criteria for Project Ignite?
A:
Full sales team engagement and KPI achievement.
Revenue growth from new and renewal business.
Streamlined sales processes with automation.
Q: What are the functional requirements for Project Ignite?
A:
Proposal System: Automated, integrated with CRM, dynamic pricing.
KPI Dashboard: Real-time tracking of performance.
Customer Data Management: Centralized CRM with automation.
Q: What are the non-functional requirements for Project Ignite?
A:
Scalability: Handle increasing data and market expansion.
User-friendly: Intuitive interface to minimize training needs.
Security: High data security standards, 99.9% uptime.
Q: What is in scope for Project Ignite?
A:
Sales Process Automation: Optimized workflows.
Customer Engagement Tools: Self-service portals, data-driven insights.
RVP Support Tracking: Leadership involvement in sales processes.
Q: What is out of scope for Project Ignite?
A:
New product development.
Non-sales business functions.
Q: What are the phases and milestones of Project Ignite?
A:
Phase 1 (Quick Wins): By Dec 2024 – Sales process optimization and product enhancements.
Phase 2 (Mid-Term): Jan to Jun 2025 – Data analytics integration, technology improvements.
Phase 3 (Long-Term): Jul to Sep 2025 – Post-implementation reviews, program closeout.
Q: What are the risks associated with Project Ignite?
A:
Resistance to change from sales team.
Potential delays in system integration.
Misalignment between strategy and market conditions.
Q: What are the mitigation strategies for the risks in Project Ignite?
A:
Strong leadership, early communication, cross-functional collaboration.
Use of pilot programs and iterative adjustments.
Q: What is the complexity assessment of Project Ignite?
A:
Business Complexity: Medium (2.45 out of 4).
Technical Complexity: High (3.03 out of 4).
Q: What is the communication plan for Project Ignite?
A:
Channels: Smartsheet dashboards, Microsoft Teams, and email.
Document Repository: SharePoint.
What does Lee’s currents Sales/Customer Process look like.
What does Ignite’s P2P process look like?
Q: What are the three primary areas of focus in Program Ignite?
A: Sales Transformation, Product Development, and Market Expansion.
Q: What are the key considerations for Program Ignite?
A:
Scalability: Ability to handle rapid digital growth.
Process Bottlenecks: Identifying what works and doesn’t in the sales lifecycle (P2P).
Technology Adoption: Addressing field issues with system usage and data inconsistencies.
Product, Pricing, and Margin: Delivering successful products with proper pricing.
Market Expansion: Identifying new markets to drive growth.
Q: What are the “Quick Wins” targeted by Program Ignite by December 2024?
A:
Root Cause Analysis through surveys and data.
CRM SOPs and integrations.
Standardize KPIs for P2P lifecycle.
Platform enhancements for existing tech.
Market data to inform prospecting strategy.
Beta AI content and publishing in key industries.
Pricing optimization and product margin audit
Q: What is the goal for Phase 2 (Mid-Term Strategy) of Program Ignite?
:
Full P2P Technology Assessment.
RPA process implementation for P2P.
Performance upsell data automation.
Additional AI content by industry based on Q1 tests.
Digital product offering evaluation.
Cyber Security service (beta) in select markets.
Q: What are the long-term goals (Phase 3) for Program Ignite?
A:
Full P2P process optimization and tech integrations.
Predictive AI for upsell and retention.
Dynamic pricing tools.
News Ring rollout.
Self-serve platform rollout.
Lead generation in select markets/services.
