A key component of effective sales cycle management is looking at your sales cycle from different angles. Typically, traditional sales cycle management only focuses on the average number of days it takes to turn opportunities into closed deals. Sales managers that go above and beyond in their sales cycle management look at their sales cycles from different angles for more actionable insights.
- Sales Cycle by Employee
Higher-level sales cycle management can derive great coaching insights by studying the sales cycle by individual employee. Managers can break down the specific strengths and weaknesses of their reps by determining how long it takes reps to progress through their sales cycles to see if they struggle at certain stages or with certain opportunities.
- Sales Cycle by Account
Certain companies – such as those that get repeat orders from the same clients – will want to delve into specific accounts in their sales cycle management. Look for unique buying patterns among different types of clients. A shorter sales cycle than average could reveal signs of an increasingly trusting relationship between your company and the client.
- Sales Cycle by Won/Lost
The basis of effective sales cycle management focuses on the difference between opportunities that close and those that don’t. Sales managers need to know how long deals that close take, compared to how long lost deals spend in the sales cycle. This will help drive more effective rep decisions and more accurate sales forecasts.
InsightSquared is the sales reporting and analyzing software that can assist you greatly in your sales cycle management. Knowing more about your sales cycle from different angles can drive more effective and efficient business decisions.
InsightSquared is the irreplaceable complement to Salesforce.[/note]
- David Fishman, VP Marketing, Marantis