Sales Performance Tracking
Revenue is the ultimate goal of every organization. One of the main reasons for generating revenue is the number of sales one has. That is why, t becomes important for the sales manager of a business to track it regularly as revenue might be the ultimate goal but it isn’t the only one. There are many factors that lead to the successful sale of a product and sales performance tracking is exactly what helps the organizations understand what works and what doesn’t. Which step in the cycle is the most difficult or takes most time or where all the deals get stuck. This helps the sales manager understand the whole process better so that they can improve on it in the next cycle and probably has greater revenues.
Thus, sales performance tracking tools, like the one provided by D cube, based on a CRM along with a visual sales pipeline help giving the manager a crystal clear idea on a strategy that not only gets the process moving faster but turns a lot of prospects into revenues as well.
What is Sales Performance Tracking and why is it necessary?
Keeping a record and detail of all the aspects and stages of your sales process means sales tracking. This process helps you analyze every single stage in your sales pipeline and develop a strategy that helps you increase your sales. It also helps the manager understand what stages of the pipeline do not work well and where the deal is most likely to get stuck. This gives the manager an opportunity to build a new strategy that’ll help the team work around that stage and increase the speed of the process. The tracking may also help in turning various prospects into great revenues in the next cycle of sales performance tracking. All of this can be easily achieved by D cube’s sales tracking tools that combine the goodness of both CRM and include a visual sales pipeline that helps you understand every stage of the process better.
What all should be included in Sales Performance Tracking?
Sales process is a process where the time given to every activity is important. It is equally important to identify the stages in the process that make a huge difference than the ones that don’t. That is why, there are many metrics that need to be kept in mind while tracking your sales like the time spent selling, lead response time, opportunity win rate, average deal size, sales cycle metrics, cost to sales revenue ratio, and sales volume by location, channel, or territory. It is indeed crucial to understand your actions better and improve on them while tracking your entire process. For example, you must identify the actions that increase the chances of cracking a deal and should repeat them as much as possible. You also need to analyze the actions that make the process stagnant and either discard them or work around them. This is why, setting up a visual pipeline along with your CRM tool helps you analyze each stage of the process efficiently and helps you come up with better results. Also, dividing your results based on various factors give you a lot more insight into future deals.