Data and analytics is the driving force, the lifeblood fueling the growth of businesses today because big companies, as well as startups, have realized that they can’t leave the administration of their businesses to chance or business intuition. One critical emerging tool that uses both data and analytics to improve sales is the sales pipeline dashboard.
A sales pipeline dashboard helps to provide an interactive overview of your businesses sales data. The data that this tool tracks include; conversion rates, lead generation or sales prospect and other key performance indicators (KPI) of your sales reps. So, basically, this tool helps sales leaders or business owners keep an eye on the performances of not just their sales, but performances of each sales rep.
Advantages of The Sales Pipeline Dashboard
1. Improves Team Performance:
This is a key advantage of the sales pipeline dashboard because it helps you track the activities and progress of your sales team. It will give you an extensive overview of, the progress of each deal, deals completed or lost amongst others.
This will enable the sales leader to set goals for each individual, know which of the reps are performing better and also know how to get the team members not performing as well to up their game. It also helps improve team collaboration. Every customer information collected during a sale can be stored and accessed by another sales rep at any time. This makes for an efficient sales process.
2. Better Understanding of Your Customers:
Each customer is unique, which means that they have unique interests, expectations, and behaviors. This is basic knowledge that every salesperson must have and take advantage of. A sales data dashboard can help you keep an eye on the behavior of your customers and the people visiting your site so that you can interact with them effectively.
It also helps you identify what sales approach your prospective customers respond better to. Thereby, it helps you better streamline the sales process better.
3. Sales Forecasting:
All the data collected by the dashboard software can be used to forecast how well a business will perform in the future based on the performance of their individual salesperson and other data.
Just like the saying goes that “a stitch in time saves nine”, business owners are able to envisage future problems. They can then ensure that they are reduced to improve their company’s chances of achieving growth and success.
4. Gives A Holistic Picture of Your Progress:
Every business has its set goals (in terms of sales targets) that they would like to accomplish. This tool helps you keep an eye on the day to day, weekly, monthly or even annual progress of the company. This gives you an idea of how close you are to attaining your goals.
So, now we know about the benefits of the sales pipeline dashboard. The only problem now is; There are more than a couple of sales analytics software out there. But how do you know the one that is best for you? You need software that not only has the dashboard feature, but also other essential features that should help bolster your sales numbers. To help clear the fog, we shall be highlighting some of the features you should be looking out for before you decide to subscribe to a platform.
Simply acquiring leads and contacting them isn’t enough. Some of your leads may have a high chance of conversion while others may be dead leads. Needless to say, you would want a CRM software that will assist you to prioritize your leads by;
• Scoring your leads: this enables your sales team to identify leads that are ready to complete deals.
• Assessing Lead Quality: this is very essential because it can assist you to identify to your sales agents the kind of leads that are ideal for you and therefore should be given attention.
This feature can also assist you to keep an eye on sales signals on social media, your website, and other channels to help you identify sales-ready leads.
Team Performance Enhancer
The amount of deals/sales your company can close or complete depends on the efficiency of your sales team. So, you need software that has the right features that can help boost your team’s productivity. The software should be able to;
• Store customer information so that any member of your team will be able to engage any customer and make the right pitch to them because that salesperson has the relevant context available to them.
• Help identify the right offers for a particular customer. This makes for even better pitching and faster sales.
As a business owner or sales leader, chances are that you are always on the go. But this shouldn’t mean that you shouldn’t be able to keep tabs on sales/ team activities. Given this, you will need software that can be integrated with your mobile device so that you and your team can perform task wherever you/they are.
The other features that the software should possess are; fast dialing, notifications and task reminders, sales automation, email integration, and sales tracking. The LeadSquared Sales CRM software has these options and a whole lot more and that’s why it is fast becoming the go-to tool for sales leaders and business owners.
It isn’t difficult to see how the features mentioned above can help you improve not only conversion rates but also sales speed and goal completion. Why don’t you take a quick trial of the tool to figure it out yourselves?