Sales tracking is the procedure of gathering and analyzing essential sales metrics. It provides you with detailed insight into each segment of the sales process. Later it helps you comprehend the relation between these insights and your sales goals. Plus, the insights are essential to convert more prospects into customers.
As per Iron Paper, 65% of customers get lost in the sales pipeline because of indifference, not because of mistakes. Also, it helps in building a sustainable strategy to keep a tab on critical sales KPIs. Besides, tracking sales today helps you in resource management, sales forecasting, and client & staff performance management.
Success in sales is impossible without tracking numbers. It’s similar to playing golf while blindfolded. The salesperson must track sales metrics to identify top-selling products, high-value customers, no sale customers, and identify new opportunities. If you haven’t started sales rep tracking, you are missing big opportunities. Here are the ways sales rep tracking could do wonder for your sales department:
Data is the new oil. Having access to customers’ behavior data helps you identify the patterns and predict their needs & decisions. For instance, maybe your customer base for a product has decreased. It means you are no longer meeting your business goals and your products are losing their presence in the market. Such real-time insights help you find the solution. As a result, you build and improve your relationships with customers & clients.
The data extracted in sales rep tracking helps you recognize and tackle problems in the early stage. A customer wishes for all-time support not only when a problem arises. Thence, you must assign a customer success manager (CSM) to each customer. The CSM reviews and check-in their data periodically. The customer gets maximum satisfaction if their issues are solved proactively. Thus the customer churn rate also decreases.
Analyzed resource allocation is vital for planning, scheduling, and assigning available resources. This allocation should be economical regarding business performance, time, and workers’ availability. Proper Customer Management comes from smart planning of when and which resources to use to derive the information of when and where the right tracking software is required.
All the trending e-commerce sites like Amazon, Flipkart, and eBay have by heart the art of making irresistible and personalized offers for customers. The sales rep tracking software help in providing the best fit solution or product for each consumer. They keep track of every step you make on their website. This tracking helps in forecasting the future purchases of individuals. Moreover, you get the opportunity to infuse the products customers feed, which they are likely to buy.
Sales rep tracking metrics enable you to evaluate the performance of your sales progression and business growth. Some essential metrics comprise sales KPIs, activity sales metrics, pipeline metrics, outreach metrics, and sales productivity metrics. You may be already tracking these sales metrics. But organizing these efforts into a sales tracking system is what is going to yield results. Read how to set up a sales rep tracking system:
Firstly, you need to decide the data you wish to track. Usually, businesses collect data from chunks of sources to understand what suits best to the company in a larger picture. The sources comprise help desk software, email marketing, automation platforms, and social media platforms. When you track the right data, you can pinpoint your strengths and weaknesses. Then you can strengthen and maximize sales. On the other side, you can also focus on working on your weakness. Besides improving your ROI, it also earns you a loyal customer base. It provides a better market presence and qualified leads.
The next step includes sharing the collected data within your business. These insights can benefit the customer success teams, sales, marketing, and developers. It helps in ideating engaging campaigns and product updates that compliment your sales strategy. Sharing these critical data among the company aligns each team’ KPIs with the company’s goals.
Collecting data offers valuable, actionable insights. For instance, suppose your NPS score is dropping and the customer churning rate increases. You can ask the customers for feedback, and the input will unfold the scope of improvement in your products and services. There could be multiple reasons, such as missing core features or reactive customer support. The feedback and insights from customers motivate you to improve the product, customer support, marketing, or sales strategies.
Now you have a fair understanding of sales tracking. We all know how dynamic is the market and customer’s needs. But building your own sales rep tracking system via the process and tools, you can keep a tab of your sales process. But you might be unable to balance the thirst for growth and the lack of bandwidth to handle the volume of new leads. So, let’s get in touch and see how Indigo Olive Software can help you solve such issues in sales rep tracking.