Tracking Your Business Drivers
What helps you sell more? And what cuts into your profits and margins? The little tools and tactics which lead to more sales are what drive your business. By identifying and monitoring the key drivers of your business, you can boost sales and productivity, as well as enhance the image of your brand in the marketplace and reach out to a wider audience. Here are 3 business drivers you need to keep track of.
PRODUCTS AND SERVICES
The first thing you may want to look at is your range of products and services. Which items are doing well in the market? Why? When you identify your ‘moneymakers,’ you can do more to ensure that these products and services get a stronger focus in your campaigns. On the other hand, you should also look at products which are getting a poor response, and the time and energy that is invested in creating and marketing them. This can help you re-allocate resources judiciously.
This is a business driver you need to track with care – because unchecked escalating costs will slow you down. If the process of closing the sale is costing you more than it should, you need to rectify it. By tracking the activities and expenses of your team on a weekly basis you will be able to see where your resources are going, and what is causing variable costs to increase or decrease.
What is making your prospects convert? What makes them choose you over the competition? How do you achieve this? Identifying and understanding this unlocks sales opportunity in a big way. You need to know which campaigns are generating better responses, which sales representatives are able to close more, and which approaches and forms of communication your prospects respond well to.
Salesvue is a sales automation and qualification software that helps you uncover the triggers that drive your team to close more sales. Salesvue tracks and records interactions from the lead stage, right till prospects convert, so you get an understanding of what happens in-between. We track the ‘human touch-the live interactions between sales reps and prospects. Salesvue tracks the conversations, meetings and interactions between sales reps and prospects, what the outcomes are, and what techniques and tools lead to conversions. By giving you an inside view of the sales funnel and processes, you can work on repeating that success.