Are your sales reps focused on the one goal of meeting their monthly sales quota? You can’t blame them, after all, that’s how they ensure a steady paycheck. But it’s not the most inspirational strategy to use for busting through your company’s sales targets every month.
Selling is unique from other sectors of an industry, in that it’s relatively easy to analyze, track, quantify, and measure every square inch of it. But, to do this, you need the right tools. A sales goal tracker could be the key you are looking for to unlocking your sales team’s true potential.
The marketing sector thrives on data. Managers make decisions and change tactics based on the numbers pulled in by the sales team month after month. However, data on its own is just a jumble of meaningless numbers. A sales goal tracker is an essential tool which can help make sense of it all.
The Sales Manager’s Nightmare
Analyzing a mountain of data adds extra stress to an already stressful job, and it’s just one more thing to add on to a burgeoning to-do list.
You know sales, you know what it takes, and you can deal with the pressure. And, now you have the added weight of making sense of a confusing, messy, seemingly endless stream of numbers.
Controlling the Data Flow
Technology is a great enabler. With the aid of a sales goal tracker, the sales manager and every member of the team can take the stream of raw data, filter it, and mold it into a workable form. Much like a potter transforming a shapeless lump of clay into a thing of beauty that is also practical and useful.
With the right tools, a sales team can use raw data to produce meaningful insight. Insight is knowledge, and detailed knowledge about how the market is moving will ensure the sales team is always one step ahead.
What is Sales Goal Tracking?
Sales goal trackers help the sales teams develop and fine-tune strategies which focus on the performance and improvement of sales KPIs. The software organizes and collates every aspect of the sales process. This allows staff to quickly identify the actions which have achieved a higher percentage of closes.
By knowing what works and what doesn’t the sales team can duplicate and repeat the more successful processes. A continuous path of optimization for sales strategies is revealed and supports the sales team in improving their operations. Morale is improved as members of the sales force realize more successful closes by utilizing the useful knowledge that the analysis of raw data reveals.
Working Smarter – Not Harder
Sales goal tracking removes the focus from basic metrics like the number of calls made, emails sent, and appointments set. Increasing the levels of these metrics is a blunt force approach which you would reasonably expect to increase sales, but it’s a case of working harder, not necessarily smarter.
Is email marketing the best approach for your product, or does a face-to-face suit the sales process better? Are cold calls getting you the results you need? Sales goal trackers can help keep track of the data coming in and pinpoint the strategies which are achieving the highest close rate.
What Metrics Can a Sales Goal Tracker Measure?
A sales goal tracker aims to create an automated method for tracking key metrics and remove the need for entering complicated formulas into a spreadsheet to see where you stand from week to week. Here are just a few of the advantages a sales goal tracker provides.
Time-Constrained Sales Goals
Sales goal trackers provide the ability to set goals for individual members, teams, or the entire company over any period. You can have yearly, quarterly, monthly, weekly, or daily sales goals which provide a tangible target for your sales team to hit.
Track Key Metrics
You can record every aspect of the sales process in a quality sales goal tracker including:
– Phone calls and meetings
– Voicemails, emails, text messages
– Networking, prospecting, and social media
Keeping detailed records and the results of each activity will provide greater insight into the effectiveness of each campaign. You can also highlight where you could make improvements.
Benefits of Sales Goal Trackers
Successful sales rely on getting to know your customers. Sales goal trackers automate the entire process and provide instant access to every piece of information which could help seal the deal. Here are a few more benefits you will gain from using sales goal tracking software.
Cloud-based storage provides easy access to information for every team member no matter where they are. No longer does any member of the sales team have to hold up the sales process because they need to go back to the office to find out a key piece of information.
Providing a Visual Reference
It’s hard to work towards a goal if you can’t perceive it in any way. A sales goal tracker creates a simple way for team members to visualize their sales targets and provides a quick indication of how far they have yet to go to reach them.
Have a Greater Understanding of Customer Behavior
Team members will have instant access to a customer behavior knowledge base – removing the challenge of trying to sell to a complete stranger. Knowing how customers spend their time online, what their interests are, or that they prefer videos over emails gives every salesperson an edge in the sales process.
Develop More Informed Strategies
Knowing how well the team is progressing is vital information to a sales manager. Identifying bottlenecks, ineffective strategies, and the strengths and weaknesses of each member of the team is the key to making more informed management decisions.
The first step towards turning sales targets into achievable goals is to make them actionable. Motivating your team, and setting up a little friendly competition can improve morale and inspire the sales team onto greater things and bigger profits.
As you can see, sales goal tracking is an essential component of business for improving the results of the sales team by adjusting focus, improving morale, and revealing the best strategies for moving onward and upward to more sustainable profits.