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Why data too often fails enterprise sales teams – and how to fix it By ralph_raiola

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Easy access to the right numbers can transform a sales organization Most companies, especially those at the enterprise level, have a wealth of customer data that can make sales more efficient and more profitable. But more often than not sales leaders do not generally have access to much of that information – and even when
The post Why data too often fails enterprise sales teams – and how to fix it appeared first on ibi.

Easy access to the right numbers can transform a sales organization

Most companies, especially those at the enterprise level, have a wealth of customer data that can make sales more efficient and more profitable. But more often than not sales leaders do not generally have access to much of that information – and even when they do, they may not be able to use it in ways that empower effective decisions. Organizations looking to transform customer data into actionable sales strategies need analytics that look beyond the customer relationship management (CRM) system and integrate data from across the enterprise.

Problem

In today’s crowded marketplace, traditional relationship building is much less effective than it once was. Research finds that B2B buyers answer only one of every 18 sales calls they receive, and open only one in four emails. But sales teams can improve their prospecting odds significantly by leveraging the customer information their organization has on multiple systems.

In most organizations, that’s easier said than done. For example, CRM systems alone can miss data on infrequent customers. Valuable information captured from social media, online interactions, an app, or a web store often resides in different systems.

Solution

Smart analytics can pull together the kinds of information referenced above into existing CRM platforms. Better still, a smart set-up can provide sales access to such data without requiring IT departments and software engineers to create cumbersome, resource-intensive reports.

And doing so makes a big difference.

Indeed, data analytics effectively can separate fast-growing sales organizations from the pack. Consider: One McKinsey survey found that 53 percent of organizations exhibiting above-average growth rate their use of analytics as either moderately or extremely effective. Implemented correctly, such analytics can help sales leaders better understand the opportunities in their current pipeline, improve sales forecasts, and focus on the leads that are most likely to close. Convenient, easy-to-use dashboards and reports also can help sales leaders track performance across their salesforce.

An effective sales analytics platform gives sales leaders easy access to data from across the organization, whether captured by a CRM platform, website analytics, marketing databases, or enterprise resource planning (ERP) processes. It should also provide context for each data set, including the relative quality of the data based on how and where it was collected. And it should provide a user-friendly interface that makes it easy for leaders to line up the data they need, build dashboards, and conduct sophisticated analyses with minimal IT support.

Bottom Line

Bringing together good data and sophisticated analytics from across the enterprise – and presenting them on easy-to-understand dashboards – can clarify pipeline opportunities and forecasting, simplify territory management, and help to establish more nuanced key performance indicators (KPIs).

The post Why data too often fails enterprise sales teams – and how to fix it appeared first on ibi.