We’ve seen companies use archaic technology such as spreadsheets to track sales data. With this kind of flow in place, few meaningful insights can be gleaned and the company can’t move forward.
Our CRM is built to deliver the kinds of insights sales managers need to make informed decisions. Managers might know that members of their sales team are missing their quotas each month, but when they rely on rudimentary CRMs, they can’t truly understand why.
Our technology generates prescriptive sales insights, allowing sales managers to identify bottlenecks in the pipeline and make impactful changes that drive growth.
Here are three of the most critical insights you can glean from prescriptive software.
1. Identify: Intelligent Prospect Targeting
If you’re capturing enough data, you should be able to break down deals by company size, lead source and industry, among other qualifiers. But how much are you really doing with that data?
With the right quantity and quality of data, your team can start devoting more time to areas where your company has seen success. Prescriptive sales insights give your sales manager a better idea of what types of customers are an absolute dream, and which types of customers should be avoided in the future.
Imagine being able to categorize prospects based on how well similar companies have performed. For example, if your sales team really excels with moving telecom clients through the sales funnel, but retail clients keep getting stuck early and rarely convert, you can devise a strategy around getting more telecom customers into the pipe.
Our system relies on artificial intelligence to inform your sales managers’ decisions. This way, you can use data to focus on sales profiles that have historically been more successful for your company.
2. Reach: Customized Outreach Strategies
Once you have your ideal clients identified, now it’s time to start moving them through the sales pipeline. If you’re still relying on old technology (or a spreadsheet), it can be impossible to figure out the best techniques to make contact and get the conversation started off on the right foot.
With prescriptive sales software, you can use historical data to find the best way to connect and communicate with leads. You can see how similar clients have performed in the past and see the steps taken to convert. As a sales manager, you can direct your team to respond in a certain amount of time or email at specific times of day using particular templates.
These proven techniques remove a lot of the guesswork from forming a game plan for your sales team. When your sales reps have a dedicated playbook, they know exactly what to say and do to keep the customer moving toward a conversion.
It also affects the way you coordinate with marketing. If you see that you get a significant amount of converted customers via LinkedIn ads, you can start building campaigns. If you get better traction from referrals, you can create an incentive program for current customers, helping them help you.
3. Close: Strategic Lifecycle Management
Thanks to prescriptive sales insights, not only have you built a dream client list and used proven tactics to move them further into the sales pipeline, you can make the act of closing the deal simpler, too.
You can see exactly what methods worked to convert similar deals at each stage of the sales pipeline. You can direct your sales team to take calculated steps to move them from qualified leads to converted customers based on real-time prescriptive recommendations.
There’s a science to closing, one that still eludes many sales teams. According to HubSpot, 44% of sales reps have an 80% probability of failing to close a deal.
A prescriptive sales process shifts the odds back in your team’s favor. You can see what kind of data reps need to capture and steps they should take (or avoid) before they can move a deal from one pipeline stage to the next. If your team is hitting the right notes early in the process, the challenge of actually closing a deal can be significantly reduced.
When you have a clear idea of where deals have fallen through in the past, you can coach your sales team the proper way to avoid these pitfalls. Instead of taking hours upon hours of your time, our technology allows you to see exactly what trips up prospects and where your team can make changes to optimize their conversion rates.
Stop Flying Blind
Instead of flying blind and relying on “instinct,” you can give your sales team the confidence that they have the necessary tools to close. You can identify bottlenecks and develop a process for working through them. With prescriptive sales software, you can guide your team to hitting quotas, grow your company, and reduce headaches for everyone.
To learn more about the importance of prescriptive insights and taking a scientific approach to sales, download this free white paper.