Sales Analytics
Sales analytics is crucial for most modern businesses. This is because sales managers need metrics to formulate goals, improve internal processes, and forecast future sales and revenue more accurately. At Structured Sales Consulting, we provide sales analytics and sales reporting services that will help simplify the information that’s already available to you. We can help you clearly understand your team’s performance, create a CRM implementation plan, and review sales trends, and opportunities that will contribute to the success of your company.
Why You Need Sales Analytics
Sales analytics is your sales team’s secret weapon. It refers to the technology and processes applied to collect sales data, determine brand recognition and predict future sales. Sales analytics allows your sales team to spot key trends, dive deep, predict outcomes, and increase productivity. It also guides your team in tailoring their efforts and prioritizing high-value prospects. Also, because it helps you uncover your team’s strengths and weaknesses, you can create more attainable goals and a cohesive team. Moreover, it highlights new opportunities for your business to pursue.
Important Sales Metrics to Watch
Data is at the heart of sales analytics. Before you can begin any sales analysis, you need to know and understand the metrics and key performance indicators (KPIs) you need and why you are measuring them. Here are the sales metrics you should watch.
- Sales Growth – This shows how much your revenue has increased (or decreased) over a particular period of time. This is a bird’s-eye view of how your sales team is performing.
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Sales target – This evaluates your current sales and compares them against your bigger, long-term goals. It tells you how close you are to reaching your overall target or goal.
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Sales per rep – This measures the individual performance of your agents.
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Sales by region – It dives into the volume of sales in key geographical areas for your business, over a specific period of time.
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Sell-through rate – The sell-through rate assesses how quickly your business can sell your inventory and when you’re most likely to require new stocks.
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Sales per product – Also called product performance, sales per product show the profitability of each type of item you sell.
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Pipeline velocity – This measures how quickly your leads and prospects move through your sales pipeline.
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Quote to close – This indicates the percentage of prospects or leads that convert into paying customers.
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Average purchase value – Also called average sale value, this identifies the average value of each sales transaction. It is your total sales revenue divided by the number of sales you made.
Choose Structured Sales Consulting for Sales Analytics Services
With data growing at baffling rates, businesses often end up grappling with massive volumes of data, knowing the potential that resides in this information to generate intelligence and real, tangible insights. Unfortunately, many businesses do not know how to draw out these conclusions. This is where Structured Sales Consulting can help. We can use accurate analytical tools to mine better insights into business processes and measure benefits from the programs they run.
Our services can include:
CRM implementation, training, and report development – We can help you find the best CRMs that will help you generate valuable data, train your sales staff, and improve your sales team’s performance reports.
Pipeline & win/loss ratio reporting – With or without a CRM and regardless of sales staff location, we can help you identify the stages of your sales pipeline, where your clients stand, and how many deals are successfully made at a certain point.
Customised sales performance reporting – We can help you gather data that are unique to the nature of your business. We will also implement easily understood and transparent sales performance reporting to gain customer buying insights.
Team focus review – We can make sure your sales team stays focused on your key markets based on objective statistical analysis.
Account Management approach review – We’ll help you standardise your sales account management function using custom templates, review structures, and reporting mechanisms.
Are you overwhelmed with sales data that you don’t know how to interpret? Or need a better CRM system for collecting measurable information? For accurate and effective Sales Analytics services, get in touch with Structured Sales Consulting today. You may call us at (08) 9438 2469 or send an email to enquiries@structuredsales.com.au.
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