The sales pipeline is a long funnel that consists of stages like lead generation, lead qualification, sales opportunity conversion, and deal closure. Sales software allows you to analyze where your prospects are in the sales pipeline. You can study the past sales strategies that have helped you convert leads into paying customers. The best part is that you can fine-tune these strategies based on customer preferences and market conditions and push them across the sales funnel faster.
Your sales performance is based on multiple KPIs such as sales reps’ performance, close deal ratio, the average time taken to close the deals, average profit margin, monthly calls and emails sent per employee, average deal size, and much more. A sales management system will align each KPI, provide you detailed insights into the sales process and help improve your sales team.
As a sales manager, it’s your responsibility to monitor the sales team performance and consistently improve the results. You can measure various performance metrics as described in the above point and determine the star performer of the week, month, and year. This feature has dual benefits. Firstly, the sales reps will perform better when they know that their daily routine activities are being constantly monitored. Secondly, as a sales manager, you can reward the highest performing sales candidates and identify those that need handholding.
Regardless of the training your sales reps get, they can never match the efficiency of machines. Sales management software allows sales teams to automate the majority of functions. This feature provides two benefits. Firstly, human errors are eliminated. And secondly, sales teams can focus on mission-critical tasks instead of wasting their time and efforts on performing trivial jobs like data collection and responding to customer queries.
Sales teams communicate with leads every day. It’s essential that you monitor this stream of conversations effectively as the company’s reputation depends on it. A sales management system allows you to capture emails, calls, and any other conversation form between the lead and the sales rep. With such data in your hands, you can gather valuable insights that will help refine the sales pitch and improve the customer conversion ratio.
Your sales process needs to be fast and efficient to ensure that your customers get the best service. The sales management system notifies the sales reps as soon as a new lead is assigned to them. It significantly reduces the first response time and substantially increases the chance of lead conversions. Also, the sales management software sends a notification to the sales rep whenever a lead lands on the homepage. The sales rep can then contact the customer, inquire about their requirements, and move them through the sales pipeline.