How Sales Business Intelligence Can Improve Your Sales and Marketing Efforts
Sales business intelligence (SBI) isn’t just about numbers, sales targets and prospect details; it digs a lot deeper than that. SBI is about mining and analyzing data – big and small – to gain greater insight into business activities and improve the bottom line. SBI has the power to give each department access to insightful information without having to go back to the IT department or third-party analysts. If designed well, SBI can give you the information you need quickly and in an organized fashion.
Specifically, here’s how sales business intelligence (SBI) tools can help you improve your sales and marketing efforts.
Improve Accuracy In Forecasts
When you know exactly what you are going to sell and to whom and how much you need to sell, it makes your life as a sales manager or rep a lot easier. More accurate forecasts mean improvements down the line, like perfect order fill rates, lower inventory levels and higher profit margins. By using data and insights provided by SBI tools, sales and marketing teams can improve forecasting accuracy by factoring in seasonal demand, new promotions and launches, slow-moving inventory, as well as other variables. SBI tools give sales and marketing reps immediate access to information that provides a detailed portrait of sales history, including actionable data, like how many calls it takes to connect with a prospect. With the right information to support the base analysis, forecasting becomes easier and more accurate.
Measure Campaign Effectiveness
Sales business intelligence tools can also help you roll out and monitor promotions and campaigns, while also giving you a snapshot of how prospects are reacting to them. When you know what’s working (and what’s not), you can reorganize your promotion and customize the message. Budgets can be reallocated to the more successful campaigns that provide a better ROI.
Empower Your Employees
It’s simple when you break it down: more relevant data means a more meaningful conversation, and the more meaningful the conversation, the more value it brings to the prospect. And showing your prospect the value in your offering is what helps close deals. When sales reps have easy access to internal data, two things happen. First, they don’t waste time hunting for information, statistics or trends. Secondly, they can use their time to analyze the information and make faster decisions. With sales business intelligence, your sales and marketing teams are armed with relevant, real-time information. This enables them to make informed, data-driven decisions that can improve the company’s bottom line.
Salesvue gives you the tools to collect and process that data and use it to your benefit. With the added power of our Salesforce integration, you get detailed reports that show you which campaigns are successful, who is generating revenue, what selling tactics are working and which deals are in trouble. Access to real-time business intelligence allows you to close deals and make changes quicker. Salesvue’s detailed Sales Business Intelligence (SBI) gives you data you’ve never seen. Discover how many activities it takes to connect with a prospect and how many conversations it takes for a conversion. Find out what it is, then plan hiring, forecasting, sales meetings and more. You’ll not only work smarter, you’ll take control of your sales number while adding up to 40% more in incremental revenue.
Learn more about the formula for sales success in our Math of Sales white paper:
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