Has your sales team resisted adopting analytics?
Embracing analytics means the entire sales organization has to be on board and truly change how they do business. However, once you shift your sales team to a data-driven approach, you’ll see huge benefits and giant leaps in revenue growth.
But why take my word for it? We reached out to a number of sales leaders to find out how data analytics has helped their teams grow and thrive. Here are 5 companies that have seen massive returns since adopting and fully embracing analytics across the sales team.
1. Improving Data Quality for Wolf and Co.
One of the first challenges for sales teams is one of the toughest: data quality. Many sales leaders believe that adopting analytics is all but impossible if the data in the CRM is a mess. However, analytics are like the chicken and the egg: sales leaders can’t use analytics if the data is too dirty, but the data will remain a mess unless they adopt analytics.
Amanda Matczynski, Operations Specialist at Wolf and Co., said analytics actually enabled her to push her sales team to improve data quality.
“Analytics gave me a vehicle to show the sales team what needed to change, and forced them to finally see why it is so important to have clean data,” she explained. “With cleaner data, sales folks are able to concentrate on the opportunities that are real, as opposed to having to weed through the garbage.”
By showing reps how analytics would benefit them personally, Matczynski’s team jumped on board and started improving their CRM usage, quickly improving the company’s overall data quality.
2. Prioritizing Opportunities with EventMobi
Another huge challenge for sales teams is how reps manage their time engaging new sales opportunities. Sales reps often waste hours selling to prospects that aren’t going to buy, while ignoring prospects that are more promising leads.
Monika Covelli, Account Manager at EventMobi, explained that sales analytics show her which deals are on track to close, and which are at risk. By analyzing engagement levels, pipeline velocity, and deal size, she can better prioritize her time.
“I really like the open opportunity analytics, due to the fact that we manage multiple clients,” she said. “It’s great to pull those accounts and know who I need to focus on today.”
Sales analytics has helped her entire team stay on track to hit goals by managing activity levels, pipeline generated, and deals closed.
3. True Transparency for UDig
Analytics can also greatly improve communication and transparency at your organization. If you start running your sales team by the numbers, you should also share that data openly across your team. This way, everyone can see the same data and understand what’s happening — from the CEO down to individual sales reps.
Jennifer Poma, Sales and Marketing Analyst at UDig, said that since her team embraced analytics, the transparency has improved accountability and performance for sales.
“We are more aware of what everyone in our company is doing to achieve their goals,” Poma explained.
Because everyone sees the same data, sales and marketing alignment also improved, with marketing better understanding the sales results created by their activities. Rather than each sales rep wondering what other team members are doing, everyone at UDig understands what they’ve done and how they’ve contributed to the team.
4. Better Understanding DataCore’s Pipeline
Sales leaders are always struggling to gain insight into the current sales pipeline, to gauge tomorrow’s sales forecast. With analytics, there are fewer surprises, according to Ramon Del Salto, Sr. Manager of Business Intelligence at DataCore.
“Using sales analytics gives us fast insight into our sales pipeline,” he explained.
With more visibility into the pipeline, sales reps are less likely to sandbag deals, or push them to the next month. Sales managers and the VP are better in tune with what’s happening today on the sales team, and are therefore more prepared for what will happen tomorrow.
5. Revenue Growth for Conversocial
Obviously, the biggest question for sales leaders is whether adopting analytics helps your bottom line. If it doesn’t, none of the other business benefits are even worth talking about. Fortunately, for most sales teams, the answer is yes.
Mike Schneider, Director of Growth and Operations at Conversocial, explained that his sales team has seen seriously impressive results since adopting sales analytics.
“Our new business revenue has grown over 300% YOY in North America, with decreased sales cycles and rapidly rising average order values,” he said.
In fact, having consistent insights into the sales process has saved sales leaders time, as well as money — which is also incredibly valuable.
“A clear system for production, distribution and exhibition of data has replaced much of the time we’d spent grokking at spreadsheets with time spent leveraging the numbers to make decisions and drive value,” Schneider explained.
With such powerful benefits, it’s no wonder that today’s sales teams are rushing to adopt analytics and improve their business operations. Learn more about how your own sales team can start leveraging data in this exclusive eBook:[contentblock id=31 img=gcb.png] [contentblock id=18 img=html.png]