Every time you interact with a lead and each time a potential lead visits your site, data is being generated. That data isn’t meant to be gathered and locked away; you need to analyze it and use it as a competitive advantage. Whether you are a big or small enterprise, selling B2B or B2C, you are now in the business of using information effectively to support your product or service offering. Businesses invest in robust tools that provide them with the best information because relevant data puts you ahead of the competition.
Here are a few ways to use your sales data effectively:
Generate Reactive Data
Data that flows through the pipeline but never gets recorded is useless. Valuable information is lost this way. You need a system that turns data into active information that helps you achieve your business goals. Recording data in real-time provides a snapshot of your pipeline at every stage, and you can use this data to react with the proper next steps towards revenue creation. If a prospect doesn’t respond, schedule a callback immediately. If a sales rep gets stuck in the same spot with each lead he/she pursues, coach them so that they can close quicker.
Make Everyone Responsible
Data is no longer the responsibility of the archives team. Everyone in the business — from the sales manager to the sales rep to the marketing executive — is an information architect in their own right. It’s everyone’s responsibility to record their interactions, deals, failures and outcomes. When everyone is made responsible for data, you can spot the omission sooner. You need to use a sales CRM system that allows for uncomplicated and accessible data entry.
You also need to ensure that you have a system in place that allows easy access to the data across the organization. Sales reps and managers should have the freedom to search for data and pull up past reports and records whenever they’d like.
Use Data to Forecast
Thanks to sales CRM systems, data is recorded in real-time. This means, that at any given time, you can view:
- Potential profit for your business
- Opportunities in the pipeline
- Number of deals closed
- Potential problem areas
Using this data, you can forecast your potential income, as well as sales team goals. With the right tools, like a sales force automation solution, you can dig even deeper to see:
- Individual sales rep performance
- Sales team performance
- Number of times, on average, it takes to reach a prospect
- Patterns of sales cycles for staff planning
Having the right tools to forecast as effectively possible will also give you a competitive edge. These tools will use the data you’re generating to provide substantial insights into what is currently working and not working for your organization so that you can adjust accordingly.
Combat Problems As They Occur
You can identify potential problem areas with sales data as well. Sales CRM systems allow you to analyze customer calls, and you can identify common problems between your customers and your potential customers, as well as any obstacles your sales reps are facing. You can fix these problems as they occur and train your staff to overcome those common selling hurdles.
The Added Advantage Of Salesvue
You probably already have a sales CRM, but do you have a sales force automation solution that optimizes your sales CRM experience? The Salesvue for Salesforce integration gives your data an edge. Salesvue’s reporting capabilities with real-time updates give you the clarity and insight you need to see how your reps are doing and where the opportunities lie. With Salesvue, you can see how close each prospect is to converting. Plus, you can identify new opportunities and zero in on your most productive sales reps, as well as help create more accurate forecasts.
To learn about how you can use your own data to find your magic sales formula, or the average number of times it takes to connect with a prospect, download our newest white paper, The Math of Sales: Your Formula for Sales Success, by filling out the form below: