90% of all the data available today has been created in the past two years. While data is valuable, it also presents challenges. CRM platforms are a prime example of this juxtaposition. With the sales cycles becoming more digitized each year via the growing use of CRM platforms like Salesforce and Marketo, companies are now able to analyze opportunities, detect performance issues and adjust accordingly in real-time.
This is a major competitive advantage. But the reality is that while salespeople have more data than ever to analyze, they still have the same amount of time to close deals. Simply put, salespeople’s time should be spent on improving the pipeline versus grappling with data analysis.
That being said, CRM data is ripe for insights and performance reporting is important so how can teams make the process as efficient as possible?
Here are a few easy ways to improve the reporting process and increase productivity so teams can get back to doing what they do best — selling.
1) Establish a standard way to evaluate sales pipelines.
As more data becomes available to the team, it’s easy to get distracted and waste time. To keep this from happening, identify KPIs at the beginning of your fiscal year and begin tracking the data associated with them. Though you can store the other data, don’t get caught up analyzing it when it comes time for performance reporting.
2) Identify bottlenecks and pain points that are costing your deals to slip due to inefficient processes.
Now that you have your KPIs set, it is easier to measure the sales process data against standard benchmarks and pinpoint places for improvement. This tip is especially valuable if your organization is considering implementing new sales support technologies. Before you can recognize a lift in productivity by deploying technology, you must first have identified the core issues and pain points for your sales team.
3) Communicate performance reporting in a standard way.
This might seem like an obvious one but with the rise of CRM data platforms, there has also been the rise of dashboards filled with charts and graphs. One thing we hear constantly from clients is that despite investing significant money in data tracking and analytics, they don’t solve for the business’ ability to deliver real-time, easy-to-understand insights.
Salespeople are often on the road so they’re using smartphones or tablets. These types of devices aren’t ideal for slicing and dicing data. Additionally, the interpretation of a bar or chart varies per person.
Sales teams need clear, concise information when reporting performance, and language is the universal medium. This is one place that our advanced natural language generation platform, Quill, can be immensely valuable. Quill can instantaneously analyze data, understand what is most important and interesting and then generate a narrative that reads like a human wrote it. When salespeople need information — not just data — Quill delivers insights instantly.
Want to learn more about how Quill can help your team deliver real-time and easy-to-understand insights from your sales performance data?
Be sure to check out our Business Performance Reporting solution page today!