The key, the magic elixir, the formula for success
in all things Sales. Google it, attend a conference, look it up in a business text book, and you’ll likely find as many answers as there are questions for unlocking the potential of your Sales team
. For every area of potential Sales improvement, there is likely a unique approach suggested. But there is one that can transform the entire department at once: data.
Whether you’re looking to motivate employees, increase collaboration and team unity, streamline current processes, or improve bottom line results, giving employees easy access to insight they need is the solution.
The right business intelligence and analytics solution will deliver that data in a way that makes most sense to recipients in a manner that isn’t obstructive of their typical workflow, whenever, wherever, and however they need it. At TARGIT, data is our lifeblood and we eat out own dogfood. Here’s what happens when BI is implemented right:
Motivation goes up
I always recommend that organizations use Storyboards throughout their entire company. Storyboards display dashboards with important KPIs on monitors placed throughout the company – hanging in hallways, conference rooms, open office spaces, and shop floors.
In the sales department at TARGIT, we have a number of dashboards on full display that showcase current pipeline progression and recent results. When I can easily see my results against those of my colleagues, it engenders a friendly competition within the department so we’re all constantly striving for our best.
Collaboration and unity increase
In addition to incentivizing and motivating, real-time access to data also increases collaboration and unity amongst the Sales team. Say I have a prospect who I know would benefit immensely from a particular new feature, but I keep running into roadblocks in my conversations with them. When I can see that my colleague Kasper just closed a number of similar deals in the same industry for the same tool, I know exactly whom I can ask for help and added expertise.
Data increases communication with my colleagues and sparks much more frequent collaborating and group problem solving. This does wonders for our overall group morale because when we all support one another, each win feels like a team effort. It’s something we can all be proud of.
It also boosts collaboration and insight into what my business partners in other locations and colleagues in other departments are working on. Many companies are singularly concerned with their own data. But a tool like TARGIT lets you share data with partners outside your department and even your company.
From my desk in Denmark, I can see the alerts that my partners in Germany are receiving and vice versa. With greater insight into TARGIT sales efforts and leads generated throughout the world, I can perform my job better.
When I need it, I have insight into other departments, such as Marketing. If leads are down, I can instantly find the source and can work collaboratively with Marketing to make improvements. This is a win-win for both departments.
Processes are streamlined
End-to-end visibility into the entire sales pipeline helps improve the processes that are in place. With a few clicks, Sales team members can get full insight into customers, locations, trends, and product movement. Not only do employees get the big picture delivered to them daily, everyone can drill down into figures behind the analyses such as lead response time, social media engagement, and opportunity-to-win ratio. In addition, automatic notifications alert employees when a number falls outside of a pre-set parameter, so team members can act immediately.
This makes it easier to see where problems or hang-ups arise in the Sales process so employees can focus specifically on improvement in those areas. It also helps Sales team members know customers and prospects better because we can see their behavior on the website and social media channels. Sales can work better with Marketing in creating a better overall customer experience from beginning to end. With more effective processes, we get to that favorable end much quicker.
One of my most valuable KPIs are conversions on our website from visitors in my region. So every morning an overview is delivered to my inbox with data on goal completions. I’m alerted whenever someone registers for a webinar, downloads an eBook, or watches a video that is related to my Sales efforts. This way whenever I get an alert, I know how and when to take action. I don’t waste time collecting this data myself, and all data is filtered to my personal KPIs so I’m not sifting through information that that isn’t relevant to closing my deals. This constant reminder eases the process and tells me what is most important for the day at hand.
Bottom line results improve
All of this—increased motivation, collaboration, and efficiency—of course improves overall bottom line results. Decisions are made faster and more soundly, and action is taken before bottom line results are affected if something goes wrong. Better customer interactions mean increased loyalty. And comprehensive insight into the market and its effect on your business mean you’re better prepared for anything that comes your way.
The industry is ripe with technologies that promise to improve the sales process with data. But few are able to accomplish all of the above in a single platform. Watch the on-demand webinar and I’ll show you the tools I use on a daily basis to make my work life considerably better. Watch it now.