Why Sales Team needs to welcome Analytics?
We live in the Golden Era where we have reached the heights of Moore’s Law. An average growth rate of Cloud space is going up 30% every year based.
Keeping data archived and stacked never helps, especially when Sales and Marketing Teams everywhere are on the cusp of a revolutionary change.
Even right now, most of the firms feel otherwise. Based on the data collected from different firms, they still are not collecting data in the required fashion, data collected infrequently and keep gathering junk data.
Below are few points where Sales team need to embrace Data Analytics:
1. Sales forecast through Predictive Data
Using the past data to predict the future needs helps firm build Unstoppable Sales Forecast. This can help the sales team to strengthen the pipeline based on the forecast. The detailed forecasting can predict need on territory, product type, time and quantity.
2. See what’s Next
Internet of Technology (IoT) is revolutionizing the product industry. We can now track how the customers are using the product and find the pain points even before the customer raises a case against it. This gives an advantage in reducing the customer case SLA time and further take faster decisions making use of the data driven patterns collected from the usage. The data can come from individual web pages to devices to bring in a 360 degree view of how customers works with the product.
3. Reduced Sales Cycle
Sales intelligence can help the Sales team make right decision based on past experience. This can help in ranking leads faster based on past trends, predict customer Demands and prioritizing the opportunity pipeline based on success factor. This results in Magnified view of every customer and thus resulting in macroscopic decision making.
4. Team performance
With the work done by the Sales team is logged into the CRM system, we can now track the Team performance from region to individual level. This can help the managers to provide one on one mentoring to team mates based on their goals and current performance. This also provides a holistic view for the Sales executives on what’s going on in the firm and set their goals more specific and personalized!
5. Point of Decision at your Hand
With the entire data available over the cloud and mobile transformation make life easier, the Sales executives can now get the right information at the moment of Sales. This helps the executive to make the right decision in front of the client.
6. Track Campaigns and Marketing Activities
It’s been always a hard job to track the campaign efficiency model and Return on Investment (ROI). Now with the detailed sales life cycle in the CRM system, the team can easily monitor the Lead to opportunity conversion based on different campaigns and further optimize the successful campaigns to squeeze out the best out of it.
7. Get Results from Day 1
Gone are the days when the average period of viewing results and improvement over a period of 12 months. We can now start analysing the team to Sales life cycle from the day 1 of implementation. These models can help the Sales team provide real time improvements as they work on the CRM and keep improving the product as they dig deeper into the analytically sound CRM solution.
8. Loyalty Management
With the entire customer history at your cusp, we can now provide better loyalty management to customers by providing them personalized promotions. This can take us leap years ahead in promotion efficiency by personalizing based on member demographic, purchasing trends and monetary value.
With a wide spectrum of information available at the hands of the Sales team, they can now dig deeper into team performance, 360 degree view into Sales Pipeline, know the Customer history. With all these information’s at their door step they can know set the journey to find new opportunities by up-selling to their existing client base.