Just like the smartwatches track our daily activities, sales tracking software tracks all aspects of the sales process.
The beauty of it is that, by analyzing these records, you can develop a sustainable strategy to keep your critical sales KPIs in check.
But, before we get into the importance of using a sales tracking software, let’s understand what does sales tracking mean?
What is Sales Tracking?
Simply put, sales tracking keeps a record of what’s happening within sales today as well as what you can expect in the future.
Doing this will help you with resource management, sales forecasting, and performance management of clients and sales staff.
When done right, sales tracking will provide crystal clear visibility into your sales process and the insights necessary to convert more prospects into customers.
‘According to Iron Paper, 65% of customers are lost in the sales pipeline because of indifference, not because of mistakes.’
So, what does a sales process looks like?
It is a set of repeatable steps that a salesperson does to take a prospective buyer from the awareness stage to decision making.
Simply put, it is a potential customer’s journey from realizing the need for the product to making an actual purchase.
While most sales teams go through a similar process, not many of them decide to outline and standardize it. This entirely depends on an individual to choose.
The logic is quite clear: as long as salespeople keep on closing deals, how they do it – is their own business.
But, unless you are a natural-born sales rep, you can significantly benefit from a standardized sales process and here’s how.
A study by Harvard Business Review showed that “50% of high-performing sales organizations admit having “closely monitored, strictly enforced or automated” sales processes. Meanwhile, 48% of under-performing organizations have non-existent or informal sales processes.”
On the Other Hand
According to the Objective Management Group, a whopping 68% of all salespeople do not follow a sales process at all!
So, it’s fair to say that using a sales tracker could do better at sales performance.
Of course, relying on your talents and resourcefulness is a cool way to work, but sales is not a game of intuition.
Sales is a structured set of tactical steps.
So, let’s talk about the reasons you need a standardized sales process and the benefits of a Sales Tracking Software.
3 Reasons You Need Sales Tracking Software
What separates high-performing sales organizations from average and underperforming ones?
Harvard Business Review conducted a study.
It was found that “The best sales organizations have strong leaders who exercise control, monitor team performance, and establish internal processes that all team members must abide by.”
Thus having a structured sales process will help your company perform at the highest level.
Utilizing Time Efficiently
Having a defined process with specific chain-effect gives you a more accurate understanding of what things are working for you.
Identify the RIGHT actions and get rid of bottlenecks and those activities that yield no or little results.
Automating tasks with sales tracking software for lead & task assignment, list creation, and sales notifications will help you reduce waste and manage activities of your sales team.
With automation software like LeadSquared, you can:
- Automate Lead Distribution and assign leads to the salespeople.
- Get Sales Notification that will help you alert your team as soon as their lead takes action
Sales automation does not limit to these, here is a complete guide explaining how sales automation works for your benefit.
Monitoring Sales Activities
Adopting a sales process allows you to identify the root cause of stalled sales.
By following a set of steps, you can analyze whether or not your actions were sufficient. This means that if you work with a sales process, you can tell not only what was and wasn’t achieved; but also how it was or wasn’t achieved.
Using a CRM tool to automate this process will help you to:
- Visualize your sales funnel and know exactly where the leads are in your sales funnel.
- It will also track your team’s performance and their activity enabling you to identify the top-performers and under-performers, easily.
Enhance Customer Experience
Often a sales rep pushes a customer too quickly into the next stage of a sale, for which they may not be ready.
This will damage the relationship and simply break the deal.
A well-designed sales process that focuses on the customer can turn a pushy sale into a smooth sailing approach.
Based on your customer’s buying behaviors and expectations, a sales process will offer the steps that sell value, enhance trust, and create a stronger bond with a potential customer – all at the right time.
Conclusive Advantage of Sales Tracking Software
So, a defined sales process can help you do the right things and inform you of what works and what doesn’t.
With this knowledge and insight, you can avoid making the same sales mistakes over and over again. The long-term advantages of adopting a sales tracking software are plenty.
For a sales manager, following a process will help them to concentrate on the things that matter most: planning, distributing leads, prioritizing tasks, managing your team, and making more accurate sales forecasts.
And to make sure your team sticks to the process, you need a Customer Relationship Management or (CRM) tool.
A CRM system will automate every sales stage and send accurate information to your clients in their entire journey of purchasing.
LeadSquared CRM tool allows you to program all sales stages easily, document all communication, and move a prospect from one stage to another at the right time. Less work, more sales.
What more could you ask for?
A good sales process is never set in stone!
You should revise your process regularly, making sure it reflects the current state of the market, your customers’ changing needs, your team skills, and your business specifics.
So, take your sales process to the next level by introducing a Sales Tracking Software by LeadSquared, and neatly organize Your Sales Management Process.