We recently partnered with Aberdeen Group to understand what difference sales analytics makes to sales performance and how the best-in-business derive benefit from it. The numbers tell the story. A sales organization that can accurately assess the market trend and tweak its business model to leverage it, has a definitive edge over its competitors.
Sales analytics not only helps you with more accurate and efficient forecasting processes – it also offers better insights for sales management and strategy. The advantages of adopting of a data-driven selling culture are many. The sales tools available today make it easy to gather all kinds of data from the customers and the market. When this data is leveraged correctly, sales organizations are able to build a fairly accurate forecast for revenue, sales, and other activities.
Sales analytics enables more accurate forecasting.
When compared with non-users, the sales analytics adopters from the best-in-class organizations were:
- 80% more often deploying a guided selling methodology to help sales reps identify the optimal message and timing at each stage of the sales cycle
- 54% better in attaining executive-level sponsorship for initiatives aimed at improving sales forecast accuracy
- 27% better at using the forecast to trigger coaching/mentoring for under-performing sales reps
- 15% more likely to improve the buyer discovery process to better predict what will result in a closed deal
With sales analytics you again an extra edge when you are able to manage your pipeline activity more effectively. Sales analytics make you:
- 93% better at walking away from bad deals
- 33% stronger at understanding which opportunities are most and least likely to close, and
- 27% more competent at adding extra resources to deals most deserving of end-of-cycle executive support
Sales analytics offers better sales insights for sales management and strategy.
Sales analytics tools help business leaders and individual contributors alike to better leverage historical evidence about their sales activities, wins, and losses, in order to make smarter decisions. Our new infographic on sales analytics can help you understand the merits of sales analytics in a better manner.