Most business entrepreneurs will admit that managing sales and their data is perhaps the most challenging task for them. They are looking for an advanced, modern tool to efficiently manage their sales and monitor their company’s performance. The sales analytics software has evolved as a boon for such futuristic companies that are always on the lookout to implement innovative technology.
Sales analytics is helping organizations to set their proper goal, optimize sales performance, boost sales, and convert visibility into action. They can use sales analytics tools to empower their workforce, manage disputes, and generate real-time reports. But one of the biggest USPs of sales analytics is that it allows enterprises to conduct an accurate sales forecasting based on the market trends to implement business best practices and strategies.
Here, in this blog, we will highlight 4 burning sales analytics trends that will help you to surcharge your sales and amplify ROI.
Investing in Innovative Technologies
If you want to move ahead in this competitive game and escalate your sales, it’s time to start investing in future growth. We’re talking about an advanced reporting open-source software.
In fact, research states that 79% of business organizations are either using or planning to integrate sales analytics software. The innovative technologies are poised perfectly to create more opportunities where you can leverage various benefits.
Knowledge transfer is going to be a turnkey where sales organizations will be able to translate macro shifts into real-time results.
Talking about the advantages and opportunities, the sales analytics and sales intelligence reporting allows you to centralize and collaborate data from multiple sources in one place. Secondly, it has provided mobile accessibility to streamline their sales activities. We now come to real-time data monitoring, visualization, and reporting.
The collaboration of sales analytics and sales has simplified the workflow of the organizations wherein they can easily integrate sales analytics with other important tools.
Implementing Automation and Artificial Intelligence
A study reveals that 40% of the traditional sales-based tasks have been automated. And as technology is surging to new heights, we can expect more enhancements in sales analytics, especially if combined with natural language processing or artificial intelligence. You can upsurge your sales by up to 50%.
We can cite the example of lead generation. Even if organizations are using advanced Customer Relationship Management (CRM) tools, they fail to convert their leads and follow them well. But if companies partnered the sales data analytics with artificial intelligence, they will witness tremendous growth in the results. In fact, both automation and AI can be used to handle more complex aspects of sales operations.
But will automation put an end to your human sales force team?
The answer is no. The sales team will continue to play a significant role in developing amazing sales strategies. But at the same time, they will need to upgrade their skills to handle the innovative software.
The role of predictive sales analytics
Ever heard of predictive sales analytics? Simply put, it is a combination of business intelligence and technology that allows businesses to harness the power of data and forecast future sales trends. In addition, they can create sales and marketing campaigns to generate more revenue and high-quality leads.
Predictive sales analytics can play a pivotal role in sales management analytics. This is because the advanced tool provides ample opportunity to score huge leads in a completely data-driven business scenario. It also enables you to measure behavioral and demographic data to predict the future demand of the customers.
Also, since artificial intelligence is playing the role of a salesman here, it helps to reduce the overall purchase time.
Sales and Marketing Analytics Comes Closer
We know how sales and marketing go hand in hand when it comes to unleashing the available opportunities. Sales have established its predominance in the B2B sector, while marketing is a dominant force in the B2C sector. The collaboration between sales and marketing analytics has allowed a 30 to 50% increase in KPIs. Sales analytics has allowed the business to improve margin analytics while marketing offers the opportunity to focus more on social selling.
Summing it up
This blog contains many more popular sales analytics trends that will create impact in 2020 and beyond. For instance, you need to focus on capturing more value from Big Data Analytics and target the micro markets.
Come, digitize your sales activities and make your sales team smarter with a next-generation tool.