Creating sales success is easy when the data is captured and interpreted smartly. Monitoring analytics closely allows sales teams to refine their strategies and target key areas. In fact, in a recent survey of more than 1,000 sales organizations around the world, McKinsey found that 53% of those that are “high performing” describe themselves as prolific and effective users of analytics.
Despite the value of analytics, though, many companies have yet to even dabble in the data lake. The same survey also found that an alarmingly high number of companies (57%) are not using analytics effectively to drive sales.
Strategies for successful sales plans should focus on ways to work smarter – not harder. Data analysis lays a solid foundation to attract a potential client, close any prospective deal, and empower teams to make more informed decisions. Information such as shopping preferences age, gender, occupation, and even marital statuses provides valuable insights to any sales team and gives them the ability to smartly segment their customer base.
Research in the UK shows that nine out of 10 sales reps do not trust data captured and compiled by themselves in the field; nearly a third (28%) don’t trust their company’s customer data, and almost half (47%) of these reps admit that this lack of accurate customer and product data is retarding their ability to sell.
Creating sales success by improving lead generation
McKinsey notes that analytics can improve the accuracy of lead generation and the process of automating sales processes. Companies previously focused on historical information to assess sales and plan strategies are now introducing lead-scoring algorithms based on specific data sets for prospects.
This immediately guides and categorizes strategies according to the client data. This new approach of combining historical data with rich internal data provides opportunities to create 360-degree profiles of potential customers. Data collection and analysis are pivotal to the success of your lead generation strategy and will often be the difference between success and failure.
- Use data collected to rank your leads so that you can easily disqualify leads that will not convert.
- Integrate technology as part of your data management strategy to sift through large amounts of data.
- Create a personal feel for your customer base so they feel welcomed and included.
Success follows when your sales team knows their audience well. Something that can only happen if you pay close attention to the data. Sometimes, it’s the little things that can make a big difference. Crunching the data will ensure that sales teams segment their customer base in a way that specifically targets diverse groups at varying times on different platforms – a strategy that is bound to bring big benefits.
This highlights the importance of training in this super-important data analysis process. Sales teams need to be trained and equipped on how to capture, store, and manage this valuable resource – to benefit them as well as the company.
Creating unique value propositions
Another key component in creating sales success is to formulate value propositions. When properly executed, value propositions have proved to give companies the edge over their competitors. However, only a few companies do this well. In its most basic form, the value proposition is the “why” someone should do business with you. Important to note that it should extend well beyond an added incentive, a catchphrase, or a positioning statement.
Instead, it is your ace – the value you offer that exceeds your competitors and positions you as THE solution to your customer’s needs. It needs a headline, a subhead, the very reason WHY someone should do business with you. It is your heartbeat, defining who you are as an organization.
Your value proposition should:
- Attract the right prospects
- Give a clear indication of what your company offers
- Provide a clear understanding as to why you are better than your competitors
- Improve customer engagement
When you combine data analysis with your value proposition, you instantly have a powerful sales tool to unleash. Consider the scenario: Your sales team has carefully analyzed the data, formulated a customer profile, and learned the core value proposition of the company. They are now confident enough to engage or target a client, knowing the product or service on offer speaks directly to the specific needs of the prospect completely. Their confidence and knowledge of the client and the product or service are a winning combination.
The result is the ability to sell better, to sell bigger. From sales performance to sales rep KPIs to a month-to-date leaderboard, Skynamo’s analytics offering is designed to help your company achieve this. And with Skynamo’s desktop dashboard giving sales managers and business owners a real-time view of all field sales activity and results, they can drive their teams to greater sales success!
Driving sales team productivity
Creating sales success through data-driven leads takes in a lot of factors, but integrity ranks very high. It takes a sales team treating each and every lead with the respect they deserve. It means analyzing all the data for each lead, formulating a persona for each lead, and doing due diligence on each lead. It takes a realization that each potential lead forms an integral part of the development of the buyer persona you are creating.
Conducting a granular analysis of your closed/won and closed/lost opportunities provides valuable insight into what went wrong with a deal and why. It opens the door to discussions on the sales cycle, the process followed, the discussions held with the prospect. Then the most crucial aspect: why the deal tanked. Developing your team to analyze their successes as well as failures is an important skill to instill in the overall pursuit of your sales success story.
Skynamo’s field sales tools are a great way for reps to stay on top of this level of data analysis and record-keeping. Integrating the right tools for your sales team will increase their productivity levels and allow them to be more present in the deals they are closing.
Our product offering provides productivity enhancements such as:
- Live customer location and route planning
- Online order generation
- Digital catalogs
- Goal tracking
The right tools for the job
Creating sales success stories is all about cleverly merging data analysis and lead generation and improved customer experiences. Sales teams who can master this report higher lead conversions and sustained success.
Skynamo’s solutions allow sales teams to spend more time in the field while still balancing the administrative requirements involved in carefully assessing and analyzing data. This simple app automates the repetitive administrative tasks that slow down and annoy sales reps, allowing them to spend more time strengthening relationships and closing more deals.
Reach out today to find out how Skynamo can help you walk the talk and get you on the path to successful lead conversions.