December 22, 2016

Sales Analytics Adoption

While many companies have experienced significant increase in sales productivity and revenue with their CRM system, many companies are failing to realize this potential. This is largely because many believe that simply adopting CRM will propel their sales teams to success. However, without the assistance of a CRM-integrated solution, many reps waste valuable time navigating their CRM software.

With today’s technology, reps no longer need to manually enter data from multiple systems and create spreadsheets. Automated solutions record the behaviors and activities of reps and analyze and present data in clear charts and graphs. Although these solutions are helpful in driving the right customer through the sales funnel, sales teams must understand how to productively interpret and utilize their data before strategic decisions can be made that will maximize ROI. The Aberdeen Group found that organizations with sales teams that utilize business analytics report a 44% greater improvement in organic revenue than those that do not.

Adopting CRM and integrating the right advanced analytics solution allows sales managers to improve the performance of their teams and close ore deals. To start, every member of the team—from reps to overseeing executives—must work from a central database. This allows reps to share best practices and learn from each other, and it provides transparency of team activities to appropriate managers and leaders. Successfully using your CRM is ultimately up to the reps, and to the managers who need to articulate the individual and organizational benefits of using CRM.

As an example, consider using an incentive reward program for reps with highest calls, scheduled appointments, converted leads, etc. This is possible through any solution that utilizes a sales performance dashboard that provides real-time data, allowing you to visually see the activities of your reps. Just as you would look at your speedometer to measure your speed in a specific moment, you need a solution that provides real-time data so you can effectively plan and act when necessary. Lastly, your team will only realize forecasted goals and revenue if you are an engaged leader that can prove the effectiveness of CRM to your team.