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SPICED Scoring

Introduction
This proposal outlines the implementation of the SPICED framework within HubSpot for Boundless. The goal is to utilise quantitative health scoring to enhance our existing sales processes, ensuring we maximise revenue efficiency and customer satisfaction.

Objectives

Standardise Data Collection: Ensure consistent and comprehensive data collection across all sales interactions.
Improve Sales Efficiency: Utilise quantitative health scores to prioritise high-impact deals.
Enhance Decision-Making: Provide sales teams with actionable insights to guide strategic decisions.
Optimise Customer Lifecycle: Focus on recurring impact to drive long-term customer relationships and revenue.

SPICED Framework Breakdown

The SPICED framework is divided into six quantitative statements for each of the five parts of the acronym, each contributing to an overall score out of 100%. The categories are weighted to emphasise the importance of impact:
Impact: 40%
Critical Event: 20%
Decision: 20%
Situation: 10%
Pain: 10%

Scoring Breakdown

Each part of the acronym is scored on a statement from 1 to 6, with higher scores indicating a better alignment with our service capabilities. The first statement in each category has a value of zero, ensuring only five statements contribute to the score.
Situation (10% of Total Score)
Economic buyer at the company unknown.
Economic buyer unknown, basic company details collected.
Economic buyer's job title and contact information collected, identified a potential champion.
Economic buyer known, basic company and employee details, including job title received from a champion.
Economic buyer known, speaking with champion, comprehensive company and employee information gathered.
Spoke with economic buyer, detailed company and employee-level information fully collected.
Pain (10% of Total Score)
Potential unclear: Company's international presence and needs were not determined.
Initial interest: Exploring basic compliance and employment needs.
Moderate relevance: Facing contractor misclassification and local hiring issues.
Growing alignment: Considering EOR for flexibility and compliance.
High relevance: Needs a compliant EOR solution.
Strong fit: Actively addressing both urgent and strategic employment challenges through EOR.
Impact (40% of Total Score)
Fit unknown: Requires further evaluation.
Potential fit: Checked geographical support, requires further evaluation.
Possible fit: Assessed job role and travel needs after verifying geographical support.
Likely fit: Verified compliance and benefit standards, assessed job role and travel needs, and checked geographical support.
Good fit: Also had no blue-collar, good fit for EOR.
Excellent fit: Was fully within service capabilities.
Critical Event (20% of Total Score)
No critical events identified.
Upcoming board or budget meetings.
Planning subsidiary shutdown.
Extending employment offer soon.
Upcoming employee start date.
Multiple critical deadlines approaching.
Decision (20% of Total Score)
Economic buyer, competition, decision processes and champions not identified or mapped.
No access to economic buyer or champions.
Champion and competition known, access to economic buyer unclear.
Economic buyer identified, champion and competition known, decision process unclear.
Economic buyer identified, decision process known, champion and competition identified.
Economic buyer identified, decision process known, champion is in a position of influence, competition identified.

Implementation Steps

Step 1: Custom Field Setup in HubSpot
Create custom properties in HubSpot for each of the SPICED categories.
Define the scoring criteria for each property based on the outlined breakdown.
Step 2: Data Collection Process
Train sales teams on the importance of data collection and the specifics of each SPICED category.
Implement mandatory fields in HubSpot for capturing SPICED-related information upon deal creation.
Step 3: Automation and Scoring
Develop workflows in HubSpot to automate the calculation of SPICED scores.
Ensure scores are updated based on the latest data inputs from the sales team.
Step 4: Reporting and Dashboards
Create dashboards in HubSpot to visualise SPICED scores across deals.
Provide actionable insights and recommendations based on SPICED scores to prioritise high-impact deals.
Step 5: Continuous Improvement
Regularly review the effectiveness of the SPICED scoring system using pipeline reviews.
Gather feedback from sales teams and make adjustments to the scoring statements as needed.

Conclusion

Implementing the SPICED framework in HubSpot will provide Boundless with a structured and quantitative approach to assess and prioritise sales deals. By focusing on impact and other critical factors, we can drive better decision-making and optimise our sales processes for greater efficiency and effectiveness.
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