How data-driven sales teams will continue to win
- Posted on June 2, 2017
Last year, CSO Insights reported that salespeople spend only a third of their time (35.9%) selling. Searching for or creating content along with admin and reporting take up the remainder of their time. As a salesperson, it’s frustrating when these time-consuming (and often laborious) tasks take away from time we could be spending talking to clients and closing deals.
It is with this knowledge that we need to be asking ourselves: Is there a faster and smarter way to complete tasks? The answer is yes, though the solution lies in how your CRM is working for you, and whether your company is extracting maximum value from it. A recent survey found that 66% of businesses used CRM either on an “ad hoc” basis or “without an exact plan” – highlighting that many don’t view it as a priority. In line with this, only 17% of CRM managers feel their platform clearly contributes towards company revenue
But businesses need to remember CRM is an indispensable tool that should empower salespeople to sell more. The problem is that when CRM stands a world apart from big data insights, companies miss out on important just-in-time client insights that will help reap its benefits. To start seeing tangible outcomes of increased productivity and sales revenues, businesses need a platform that bridges this gap, one that equips salespeople with the relevant, actionable big data insights they need, when they need it the most.
Striking gold with CRM
Providing sales reps with ready-made insights from your own company data will help them draw meaningful conclusions, work to build a 360-degree view of the customer – and fast. For example, consider a scenario in which you log in to your CRM platform to schedule an appointment with a prospect. In an instant, relevant alerts appear on your dashboard detailing guidance for that prospect, which is coming from your company’s own wealth of data.
Alerts start notifying you in real-time if a similar deal has previously been closed with a client. Your system serves up past win rates, your company’s experience in that industry, and relevant proposals you could potentially re-use. Predictive notifications also appear, for example, “Your data shows if you don’t contact prospect X by this Wednesday, you have a 70% chance of losing the deal”. You get the message – highly useful client-centric insights are automatically pushed to you, over email, or text… depending on how wish to be alerted – see example on the right.
Developing a stellar sales team
A CRM platform powered by big data in this way not only offers a more productive way of working, but enhances user experience for both employees and customers. It’s one of the driving factors in helping businesses to stay competitive and move forward faster. It will also help attract and retain top talent, especially millennials, in an age where the benchmark of workplace digital technology is reaching new heights.
By helping to prioritize leads and focus attention on the business that salespeople are most likely to win, a data-driven CRM will be an increasingly vital element to help overcome CRM adoption difficulties and develop high performing sales teams.