If you’re in sales or you need to meet revenue targets, you may wish you knew how to find sales opportunities within your MAM system.
NB: This is a preview of our latest eBook: '10 Metrics Every MAM User Must Know & Measure' To download the full eBook, click here.
In this eBook for MAM users, we explain how you can get insights into the sales pipeline, sales performance and we highlight the things you should be measuring. Data analysis tools are revolutionizing sales measurement. Through business intelligence, sales and executive teams can pinpoint where their teams can generate more leads and they can highlight cross-sell and upsell opportunities to existing customers and much more.
Over 65 MAM customers are already seeing the benefits from out-of-the-box business intelligence tools such as Phocas which is designed specifically to work with MAM. You too can use your MAM data to make data-driven decisions. But what analytics should you be measuring? We outline ten below.
1. The sales pipeline
This is a great way to gauge a company’s health.
Sometimes presented in a graphical format, it shows the sales opportunities the company currently has and an estimation of the amount of revenue the sales team is going to generate in the coming months. If the opportunities within the pipeline are managed well, the sales team will stay organized and feel more in control of their sales figures and generate confidence in the targets that can be achieved. What metrics should be measured in a sales team’s pipeline?
- the number of potential opportunities in your pipeline
- the average opportunity size in your pipeline
- the average percentage of opportunities that are converted from leads to customers
- the average time opportunities are in the pipeline (measured in days)
2. No sales.
While it’s very important to track who is buying, it can be just as important to find out who isn’t buying.
If you’re in distribution, there are many questions you should be able to answer using your MAM’s data. These include:
- Have some of your customers been buying less from you over time?
- Are sales to a particular customer down year-on-year?
- If so, are these signs that your customer may be buying elsewhere?
Having access to this data, allows you to learn more about your customers and identify threats before it’s too late.
In this eBook, we will focus on the top KPIs every MAM user must know and measure; the importance of finding the right business intelligence tool to help aggregate, slice-and-dice, and analyze your data; and how this data can benefit you in multiple areas and activities within your business, from launching new products, and tracking product sales, to identifying trends and margin analysis.
Click here or on the image below to download the full eBook.