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Sales analytics –Unlock your team's hidden power.
Sales analytics – it might sound complicated, but could it be the key to enabling your reps and massively upping your sales?
Discover everything you need to know about sales analytics, including what it is and how it works, and why your business needs it.
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It might sound very daunting and like something straight out of an advanced maths lesson, but once you break it down, it’s no way near as complicated as it sounds.
Essentially, sales analytics is the process that’s used to identify and understand your sales and predict sales trends, based on all of your previous and existing sales data.
There’s lots of different data that sales analytics takes into consideration, but once you put this all together it can give you key information for forecasting future sales, and how to improve your overall sales.
Sales analytics and analytics tools and software can essentially act as your cheat sheet when it comes to creating a fool-proof sales strategy.
It provides you with valuable insights into your business and your sales activity so you can know about all of the ins and outs of all your sales and use that to make sure you’re putting your best foot forward.
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How does it work?
Sales analytics software looks at all of your sales data and helps to tie it all together.
Much like a jigsaw, sales analytics takes each individual puzzle piece of sales data and quickly slots them all together to give you the overall picture in a clear and simple way.
The software will look into all of your current ‘back end system data’, and grab all of the information it needs to pull together an efficient dashboard, or report.
It works to break down what can be very complicated data and spins it around into actionable insights on the things your team are doing that are great, and the things you can improve on too.
Types of sales data
There are different types of data you have access to in your business, but loosely speaking, if your data is measuring something about sales; it’s sales data.
Sales data is made up of an array of metrics too, and depending on your business and what you really want to get out of your sales analysis, some will be more useful to you than others.
From demographic data about where your customers are based, to firmographic data on the type of customers you have, there are lots of different ways you can dig into your sales data to get what you need.
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Our sales analytics tool will do a deep dive into your data and give you a helpful report that tells you everything you need to know about your sales.
Once you can peek under the hood of your sales, your team will be more empowered than ever before.
Picture it like a hidden gold mine full of data – you’ll get to discover everything you need to fully maximize your team, and really get to the bottom of what makes your sales tick.
One of the biggest draws to sales analytics software is the fact that it can massively increase and impact your overall sales – after all.
Once you figure out what’s working and what isn’t, you’ll be able to entirely focus on the good stuff.
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While sales data analytics can’t quite go out and actually sell your products, it can show you the good, the bad, and everything in between.
To gain that competitive edge, you can use data analytics to increase sales by drilling down into the data and learn everything about your sales.
Sales data analytics helps you to fully get to grips with your sales and understand all of the factors that are influencing them, and from there you can pinpoint exactly what’s working and what isn’t.
By being able to pinpoint what’s working for you, you can narrow it down to certain factors, whether that be a certain product or a particular rep, and this allows you to replicate your previous success.
Sales analytics will essentially give you the formula to go from, for what works, and what doesn’t work.
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Sales analytics can be used within sales teams of all shapes and sizes, and all salespeople and reps can benefit from gaining insight.
Sales managers can use this data and report to focus on any coaching or training that might be needed and can use the data to better predict forecasts and trends.
Sales reps and salespeople find sales analytics incredibly helpful, from learning which products are performing the best to which geographical locations to focus in on.
You could even see when a customer's spend is dropping off so you can quickly nip that in the bud and save your customer.
How to present sales data
First things first, you’ll want to make sure that your data is clear, easy to understand, and has all of the relevant information.
When your data is confused and muddled, it can be difficult to see any real value to the data, and difficult for you to understand what it’s trying to tell you.
It’s also important to make sure it’s easy for all of your sales team and reps to understand and use, and that it’s all kept somewhere they can easily access whenever they need to.
Through using a sales analytics tool, the software will automatically turn your data around into something easy and simple to understand, so the only thing you need to worry about is what to do next.
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