What Is Sales Management Software & Why You Need It?
At the risk of stating the obvious, managing sales is not an easy thing to do. You’d need to constantly monitor various KPIs, your sales teams’ performance, distribute leads based to different reps based on leads’ requirements and much more.
A sales management software helps you by automating these tasks and helps you and your sales team focus on the more important goal – closing more deals.
Why your business needs a sales management software?
Let’s first let’s recap what is sales management.
“Sales management is the process of interacting with your leads or prospects and trying to get them to make a purchase from you. It is the process of planning, staffing, executing and analyzing your sales team and their goals and results.”
To increase your sales, it’s important that you constantly track different aspects of your sales and automate different tasks. This helps your sales reps with their various day to day tasks and reduces a lot of their work. Eventually, they can focus on their biggest task – finding new prospects and converting them into your customers. It helps you achieve a win-win situation by maximizing your sales while delivering the best value to your customers.
Here’s how a sales management software can help your business grow: –
Many KPIs like your sales pipeline, sales rep performance, close ratio, the average time taken to close a deal
etc. play a major role in increasing your sales performance.
Sales management software aligns all these KPIs and gives you a 360-degree insight into all your sales aspects, giving you a tighter grip over your entire sales.
Visualizing Sales Pipeline
By visualizing your sales pipeline, you can understand where all your leads lie across your sales funnel.
You can understand the strategies which helped you convert past leads into your customers. Replicating and fine-tuning these strategies on your existing leads would push them down your sales funnel faster.
Tracking individual performance
Many insightful reports in this software help you understand the inside out of your sales reps’ performances. You can identify who is your star performer, which method of contact helps you close maximum deals, the average time is taken to close a deal. By analyzing these reports, you can share valuable insights and help underperforming reps achieve more.
Tracking conversations with your leads
Conversation with your leads is the most important aspect of closing deals. Every conversation your reps have with your leads reflects your business’s image. Therefore, it’s important to keep a track of these conversations. You can capture every e-mail and calls between your leads and your sales reps. This can help you suggest valuable insights to your reps and help them refine their sales pitch.
Apart from visualizing your sales pipeline, a sales management software helps automate your day to day tasks which take up a lot of your sales reps’ time and attention.
Your sales reps have a never-ending list of tasks every day. Now, many of these tasks happen to be mundane and could be easily done by machines. (Well, until they don’t overtake our world! 😉 ). You can automate these tasks and help your sales reps focus on the most important task – finding new leads and closing more customers.
Lead Distribution Automation
One of the mundane yet critical tasks which you can automate is distributing your leads to respective rep. With a sales management software, you can automatically distribute leads to your reps based on pre-defined rules and criteria.
You can distribute your leads coming in from various cities to your sales team across the globe. This saves your inside sales team the hassle of going through the details of every lead and assigning them to respective sales reps manually.
You can also distribute the leads to your sales teams based on your lead’s interest in your products. For example, if your lead is interested in your Product A, then a sales management software automatically assigns it your Team A.
Your sales team has a plethora of leads which they need to contact in a day. An easy yet effective method of contacting these leads is qualifying and prioritizing your leads based on different criteria.
With a Sales management software, you can assign a higher quality score to leads with attributes that match your customer persona.
Assigning a score of 10/10 to a CEO looking for your most valuable product helps your leads prioritize with their calling efforts. This, in turn, ensures an efficient sales process.
Sales reps can be immediately notified when a new lead gets assigned to them. This helps in reducing your first response time. A quicker first response to your new leads always gives you a higher chance of conversion.
You can also set up other notifications which would help them close deals faster. For example, if a lead visits the pricing page on your website, sales management software can immediately notify respective sales rep. As soon as your sales rep receives this notification, they can inquire with the lead about their requirement.
Every business, big or small, has one common goal – “an always up going sales graph”. Sales management software can be your sales teams’ best friend in achieving your monthly, quarterly or yearly sales numbers and can help you in overachieving these numbers as well. To boost your sales productivity and to manage your sales teams’ better, sign-up today with LeadSquared!