The Summer Olympics kick off in Tokyo soon, and the world’s top athletes will command our attention once again. We can all agree these athletes are living proof of the motto — “Swifter, Higher, Stronger” — as they constantly strive to reach new heights in their sports.
Even with undeniable talent, this year’s Olympians relied on key tools at their disposal to maximize their performance and keep up in an increasingly competitive field – including world-class coaches and gear.
Closer to home, your sales team is navigating a more challenging selling marketplace – one that demands quicker insights, higher margins, and stronger customer relationships. Today’s most successful sales teams are dialling into data to deliver better results than ever.Here’s how you can leverage data analytics to propel your sales team toward their own kind of gold-medal glory.
To reach Olympic-level goals, your sales team needs to deliver insights to customers faster than ever. With the help of data analytics like Phocas, salespeople can use data to work more strategically and provide customers with information, such as how their products alleviate pain points. In addition, they can easily track spending habits and predict when they’ll make their next order and what they’ll buy. For salespeople who are constantly on the move and juggling multiple accounts, it’s important for them to be able to quickly identify up-to-the-minute data so they can ask the right questions and identify customers’ needs on the spot.
Higher margins are a top goal of any sales team – and they’re much easier to achieve with the help of data. A data analytics tool provides key information about products you’re selling at a glance. For example, Phocas allows you to set margin alerts, so salespeople will receive an email letting them know if a product has fallen below the benchmark you’ve set for the desired gross profit margin per customer. You can also rank products from high volume to low volume margins. Sales dashboards are one key tool that can bring this critical data to life in a matter of minutes, allowing your sales team to make data-driven decisions and achieve their goals for higher margins.
Building stronger relationships with customers is a crucial element of the modern selling marketplace. Using data, sales teams can deliver that human touch while providing top-notch service. Data analytics tools provide key relationship-building information with just a few keystrokes: how much customers buy, what they buy, and in what quantities. It can also help sales teams identify the best customers, pinpoint up-selling and cross-selling opportunities, and determine ways to reach out to customers that haven’t been purchasing much lately.
“Cleaner” might not be part of the Olympic motto, but it should be. Olympic athletes aim for clean, flawless performances — and today’s top companies strive for similar precision with data management. Clean data visualizes the insights you need in a clear and compelling way. Unlike spreadsheets, you can access accurate data in real-time and quickly, automatically create reports showing the information you need.
When you first move to a data analytics tool, you’ll need to figure out what you want to analyze – whether that’s determining your most profitable customers, profit margin per product, or your Sales vs. Budget. It doesn’t take long for sales teams to understand how data can help drive their performance, allowing them to do their jobs more effectively. Sales teams that set up and think like Olympians set themselves apart from the competition, leading to winning results.
For more information on how your sales team can reach its own Olympic-level success, download this free ebook: Reach sales targets during rapid change