How to Use Your Sales Data to Get Better Results
Are you monitoring your sales, and coming up short on ways around a slump?
Maybe you’ve had your eye on a few choice industry trends, or tried your hand at targeting certain products based on increased sales. Whatever the case, and whatever the industry, it can be tough knowing where to start.
That’s why it’s important to know you can always benefit from consistent, targeted sales data. After all, the more you know, the more you can do with what you know.
Join us, today, as we unpack what you need to start gathering, processing, analyzing and making decisions based on your sales data.
Always Follow The Sales Data
The first step to developing any good habit is to just start doing it.
The best sales leaders know gathering, analyzing, and reacting to data is crucial to the successful operation of any business.
But where to start?
Well, it helps to know what you’re looking for, for starters.
Identify key metrics which pertain to your sales, marketing, and production figures. Anything that reflects your output, and the returns you’re making on that output. Organizations use conversion rates, marketing collateral, and sales cycle length to drive sales.
Without an organized plan in place to gather data, you’re waiting on something you aren’t sure will necessarily come in. It pays, whether you’re handling it internally or outsourcing, to make sure you have a schedule in place to gather and archive information.
This kind of data isn’t superficial, either. Through targeted use of call rates, win rates, average deal size and deal response time, you can do better business, realistically.
They say “forewarned is forearmed”, and when it comes to data, there’s nothing truer. Make sure you have all the forewarning you need, going into your new business year, to give you what you need to be the best business you can be.
Decide On An Open Response To The Data
The best creatives in the business learn one thing, at an early stage: sometimes you’ve got to know how to hear you haven’t done a good job.
The worst spend their time wasting lead opportunities because they haven’t decided, ahead of time, how best to respond to this data.
Gathering data to use in transforming your business is never going to work if you’re too proud to admit when the data shows you’ve made a misstep.
Respond and adjust to variations in data from month to month, and make sure to take negative data into account as much as positive data.
Experts agree incorporating business-orientated data helps to improve general problem-solving approaches.
But having the data means nothing if you don’t know how to use it.
Turn your analytic data it into actionable insights you can work with, by measuring and comparing it to targeted goals. Once you’ve captured the data, it’s imperative you have a strategy in place for how you plan to use it.
Are you willing to adjust your business plan to new and emerging data sets?
How long until something becomes actionable? Organize yourself to a strict schedule, and use positive chances to encourage and motivate your sales team. Not only is sales data valuable for plotting out the course of your business, but a strong bargaining chip for use among your employees.
Embrace Better Tools
Of course, big dreams and a comprehensive schedule are only part of the plan.
If you don’t know which tools to use to give yourself a competitive edge, you’re playing with a handicap. Make sure you aren’t committing to an out-of-date sales solution, with some powerful high-end modern sales tools.
Modern sales technology is designed to combine predictive and automated functionality.
The end result of this is better data-usage and a more comprehensive data platform. These tools gather significant data, helping you to invest your resources in business plans that work for your unique brand.
With this kind of sales data collection, your company is positioned for better short and longterm improvement. More importantly, you’ll be using the data you have on-hand to make better-informed decisions.
Sales technologies help businesses align their marketing processes and goals, for use by their sales teams.
Tools and content with a professional finish give you a comprehensive platform to carry out your operations on. Moreover, with developments in user interfaces and usability, they’re more accessible now than ever.
Some high-end options you might consider include:
- SQL platforms, for database query management and analysis and comparison
- Clearbit Connect, a classic tool for contact information enrichment
- Scannable, for inputting your business cards and handwritten notes quickly into Evernote
With so much to offer, there really is something out there for everyone. Get the upper hand on your data management, with these and other fantastic, data specific apps, programs, and products.
Make Facts Your Foundation
It can’t be said too strongly – a good campaign has to be based on solid information, first and foremost.
Swinging for the rafters with a widespread data-gathering plan helps to cast a wide net on what data is available to you, right away. From there, you can apply this information to multiple verticals, track and monitor it, and adjust your operation.
Pay attention to trends, on a daily basis, and use a long-term plan to work with, not against these changes, which are a normal part of running any business. Keep your approach consistent.
Above all else, remember: the point of data is for it to be accurate. Work with real figures, and stop yourself from making decisions when the data doesn’t hold up.
Start Using Sales Data To Your Advantage, Today
Running a sales business is a complicated process.
There are a lot of moving parts, from your sales agents to upper management. It’s important that for as many people are at work on your sales team, everybody has a clear, targeted sales goal, derived from real-life data.
Interested in learning more about navigating the choppy waters of improving your sales?
Check out some of our other blog posts on the topic, and discover a better way to conduct your sales, today.
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