With sales intelligence (BI) helping to increase revenues and profits, sales teams are increasingly embracing this powerful enterprise software. Let’s take a look at why sales reps should embrace sales intelligence.
Sales intelligence looks at data
If you think about sales teams, they are built of different people. Each person has a different personality, a different skill set, and a different way of working. If you manage a sales team then you need to look at how your sales team works. Is every one of the same mentality? Do members of your team interact with each other?
Sales intelligence looks at data and trends
Most sales teams are built on measurements. Measurements such as the number of sales, amount of sales revenue, and so on. With sales intelligence, you look at the data that is generated by your sales team. This data allows you to look at trends. For example, if you have 10 sales representatives, it is very likely that there will be 10 different trends. Looking at this data allows you to understand whether these 10 trends are general or particular to your sales team.
Sales intelligence allows you to undertake predictive analysis
Sales intelligence allows you to look at data in the past and present and predict what will happen in the future. For example, if Sales Intelligence shows you that there is a large increase in the sales for one of your products, then it is likely that this increase will continue in the future. You can look at trends like this and predict what will happen.
Sales intelligence allows you to test and experiment
As I mentioned earlier, looking at data allows you to identify trends. The more information you have about your sales team, the more opportunity you have to create experiments. Experiments allow you to test different strategies and see what works.
By being able to test different strategies, you can ensure that your sales strategies are effective and that you are able to increase profits by increasing sales.
Sales intelligence allows you to focus on the right information
One of the most important things about sales intelligence is being able to look at the right information. It is easy to look at something like sales data but it is important to look at more than just sales numbers.
Data such as sales revenue, number of sales, how much they earned, and so on can be on the surface useful, but it is important to dig deeper into this data. Sales data indicates the size of the market, but you also need to look at trends such as how a particular product performs in different markets.
By looking at the right information, you are able to ensure that your sales strategies are focused on what’s important.
Sales intelligence allows you to answer questions.
It is important to understand that data without going into too much detail is not going to tell you much. It is when you dig a bit deeper than you are able to ask questions and find the answers you are looking for.
Assuming that sales intelligence hasn’t already answered your question
Here are some questions you could ask yourself:
What is my sales team trying to achieve?
What is my sales team struggling with?
What trends are there?
What are our competitors doing?
What data can I use to answer these questions?
With sales intelligence, you are able to answer these questions and answer other questions.