Forget about yesterday’s estimates and gut-feelings – today’s knowledge-driven economy requires a data-driven approach to improving your sales processes and performance.
The pressure is on for sales teams to follow the lead of customer service, finance, and marketing departments, by collecting and applying the metrics and data they need to optimize performance.
What Are We Shooting For?
The goal is to gather, organize, and apply the data you need to determine how your team can work smarter – not harder. But this also requires overcoming the ingrained tendencies of your sales team, and encouraging them to utilize the tools and technology they need to provide accurate and up-to-date metrics.
Gone are the days in which new sales reps are added to help meet increasing quotas – today’s C-suite wants to see their projected ROI before adding new staff, and a focus on increasing the efforts and productivity of current sales reps is far more cost-effective.
To outperform their sales quotas, today’s sales leaders must address the challenges of business – and big data can help.
Today’s Sales Technology Landscape
The introduction of new technologies (such as cloud-based data analytics, and integrative sales management systems) creates a real opportunity to address sales productivity and increase performance visibility by streamlining the collection of sales information, and consolidating your important data into one common location.
These systems provide complete visibility – meaning your accurate, up-to-the-minute sales info is accessible to sales reps and leaders from any location (even while on the go).
This transparency and flexibility enables sales team leaders and managers to leverage big data when developing their sales strategies, or assessing current territory assignments and compensation.
It also enables them to monitor current performance, in order to determine which sales reps are on target to meet their goals, and which may require additional training or support.
Additionally, it facilitates the effective assignment and application of resources, allowing team leaders to optimize their approach to meet shifts in the market, or adapt to changing organizational goals.
Leveraging Sales Data
Still, it’s not just about acting in the moment – by assessing historical data, sales leaders can gain visibility into their sales team’s overall performance – not just to assess how and where employees are expending their energy, but to view the effectiveness of their strategy and efforts, over time.
A close look at historical data can help pinpoint organizational issues which may affect turnover or team performance, such as ineffective territory assignments, or other disparities. It can also provide insight into customer behavior, allowing sales teams to determine which clients are most likely to invest in new products and services, in order to focus their efforts on the strongest prospects.
By applying sophisticated analytics to this wealth of consolidated sales data, sales leaders and managers can also predict the future – creating projections which can help clarify where their energy and resources are best spent.
They can also test compensation scenarios, create informed estimates of income and revenue, and develop the strong, data-based strategic approaches which help ensure future success.
Effective Technology Requires Human Leadership
Technology is only one piece of the puzzle. The best sales system is one which is championed by your sales staff and leadership – and overcoming the resistance to change is sometimes difficult.
The most effective approach to onboarding your sales team is simple – show them the money.
Demonstrate how their decision to embrace this new technology will help them streamline their efforts and achieve greater sales success, and you’ll find yourself with a team fiercely devoted to big data.
Let’s Close the Deal!
To learn more about how SalesFitRx can help you leverage your sales data to discover more selling time, increase sales effectiveness, and grow your bottom line – contact me today: Karl.Gustafson@salesfitrx.com | 602-427-2399