It is almost impossible for a sales team to be successful if it is not tracking how it is reaching its goals. You should be able to answer questions such as “how many conversions did you have this week” or “how many cold calls did you make this week.” Having adequate sales data allows for you to make modifications that will maximize the profitability of your business.
Automate Your Sales Processes
One of the best ways to track sales metrics is to handle sales transactions using an automated system that forces you to enter in critical data. It is easy to forget to track important details by simply keeping a spreadsheet. It is impossible to forget when you are forced to enter data in order to complete a sale.
The best automated sales processes handle much of the work for you. For instance, if there is a stage in which customers must be sent an email, this can be done automatically. Reports can be generated and sent to appropriate managers so they can receive feedback on their performance. Automated sales software can also ensure that clients are efficiently moved through the sales pipeline. For instance, prospects can become frustrated if they are repeatedly contacted with the same sales pitch when they have already agreed to purchase the product or service.
Use Mobile Apps
Track sales data using mobile apps. Oftentimes, you are given access to sales information while you are not at your computer. Tracking sales data from a mobile app will allow you to always add sales data even when your sales team is on a sales call. When tracking sales data, begin by tracking three key metrics. For example, if you are carrying out cold calls, you should track the number of cold calls you are performing, the number of appointments you are having and the number of closed sales. After you have gotten used to tracking three metrics, begin adding additional metrics that you feel will help you shape your sales process.
Track customers with an email tracer. It can be difficult to remember where a particular email is from. A tracer program can identify an email’s IP address, which will allow you to remember where a particular email was from and connect it to a customer or a sale. Keep your emails organized by placing them in appropriate folders.
Time tracking software is critical for measuring metrics such as how long it takes for a sales representative to finish a cold call. Time tracking software must be easy to use so it won’t interfere with your workflow and so it can quickly begin tracking time when necessary. Using a simple stopwatch on your phone can also help when you do not have access to more complex software and need to track something on the fly.
It is difficult to understand abstract numbers and much easier to understand charts and graphs. Pie charts, line graphs, bar graphs and any other form of visualization can give you a quick, overall picture of how well your business is performing. Fortunately, many sales software programs come with visualization tools built-in. Great visualizations are clear about what they represent and it is easy to see the changes in data that are being tracked.
At the end of the day, assess what information you have tracked to determine whether you are forgetting anything. Make an effort each day to improve your data collection efforts. Once you have acquired sufficient data, it is important to weed through the information to identify areas where you can improve. Not only should you focus on revenue generated, but other metrics such as the speed at which you perform cold calls. With enough data, you will significantly boost your sales and lower expenses.