Without access to the following key data points, you will find it increasingly difficult to manage the sales team and achieve any certain degree of predictability with your forecast.
- Lead Conversion – the percentage of leads that convert to customers.
- The Close Rate – the portion of opportunities that convert to closed sales.
- The Sales Cycle Rate – the amount of time it takes to convert a lead to a customer.
- Average Revenue per Sales Representative
- Average Profit per Customer
- Why is Analytic Insight important for Sales Executives?
Analytic Insight provides management with a clear picture of how your sales team is currently performing and further breaks this data down to discover where your sales team is achieving as well as where they are falling short. Oracle CRM On Demand (CRMOD) is an extremely effective sales and marketing tool which provides an avenue for future planning and strategy and that allows your organisation achieve its quarterly or annual targets.
Fortunately, CRMOD includes insights into the entire Sales Process providing clear knowledge and actual figures surrounding the five key data points mentioned above.
Benefits of Sales Analytics
There are several benefits that surround CRMOD analytical capability. Forged from Siebel on premise CRM, CRMOD contains a deep analytic capability to help the Sales Executive understand the data they are being presented with.
- Increase Forecasting Accuracy and Sales Results
- Increase Sales Force Effectiveness
- Improve Responsiveness
- Faster Implementation, Lower Risk, and Better Business Results
- Better User Adoption and Alignment
Not only does this significant tool allow management to identify which employees are meeting their KPI’s but also which businesses are most profitable. This data two can help your sales team to develop specific lead nurturing campaigns to ensure you are maximizing the number of leads you into sales. You do need to ask yourself the question, “can our team do without this valuable data?” – Most probably not!
All in all, Analytic Insights can prove extremely advantageous for sales and marketing teams as they’re provided with a broad range data that maps out your entire sales process. This data doesn’t only look at pipeline and revenue management like traditional analytics tend to do, it delves into much more!
In this short and insightful video, Steve Diamond – Senior Director, Product Marketing, Oracle outlines the analytic capability needed for sales executives.