Do you trust the data in your CRM? The data that guides your forecast and helps you determine the next sales action reps should take?
If you don’t, you’re not alone!
In a short poll held during our latest webinar, only 22% of participants responded they had “high trust” in their data. What these numbers tell us is that despite all the time and labor effort put into producing that reports and records, they still fail when it comes to helping the sales team make smart decisions and take action.
How’d we get here? The reason for such limited trust in CRM systems, such as Salesforce, is that 90% of sales activities are simply not captured. That means only one out of every 10 meetings, contacts, emails, etc. is recorded. And that means all the decisions reps, managers and leaders make is based on limited—very limited—information.
Without a complete view into everything that has happened and steps that were missed:
- Reps act on gut feel and often miss signs that deals are at risk.
- Sales managers don’t know where and when to jump in and coach.
- Sales leaders produce a forecast based on committed numbers that are backed by gut feelings.
The ramification? Everything from missed opportunities to missed forecasts.
Sales activities are the most effective indicators of performance; yet, CRM systems continue to miss out on delivering this key insight, leaving the sales team completely in the dark when it comes to performance review, coaching and forecasting. That’s where AI-powered guided selling systems, such as Olono, enter the equation and fill in the gap of sales data and actionable insights.
Automatic collection of sales activity and engagement data is one of the features that make Olono a sales rep’s new “best friend.” It eliminates the burden of data entry, recording sales activities and prompting for additional missing information that could impact a deal. Based on that data, Olono automates coaching by recommending the next best actions to move a deal forward, as well as risks and exceptions associated with such deals.
Reliable data and actionable insights not only help move deals forward but also to redirect and re-allocate efforts before it’s too late. A common pitfall for sales reps is not knowing when to press “pause” on an opportunity to move on to a better one. Tools like Olono eliminate the guesswork and replace it with AI-backed insight on how likely an opportunity will close and how much effort should be put into closing that deal. Reps can spend less time on the heavy work of data entry and more on making new contacts and getting in touch with leads and opportunities, and still get the full view of how impactful their actions are.
Overall, sales activity data puts confidence back into reporting for sales managers, as it leads to more accurate forecasts and pipeline reviews. But the values Olono delivers go beyond that.
Olono identifies blind spots and then coaches both reps and first-line managers to improve how they are working deals in real-time. It understands engagement (which deals reps are working and how they are engaging—frequency, type, response), then correlates that data with historical wins and losses to understand the time and resources currently being deployed and how likely this effort will lead to positive outcomes. Olono then pattern matches, applying key parameters to the current pipeline and projections to see where the gaps lie.
That’s why InsightSquared teamed up with Olono to provide the most complete end-to-end revenue platform, connecting sales and marketing analytics with historical and real-time activity and engagement data to improve business decision-making and drive predictable results.
So if you think about it, this combination is a match made in heaven. Together we collect all the data and provide a complete view into what’s really going on in your business. Then we provide analytics to help you understand what you should do about it. And finally, Olono offers the Actions Engine, providing recommendations that put sales reps on the fastest path to close. The result, faster deal progression, a healthier pipeline, improved forecast accurately, and more.