Tracking of the sales & marketing Activities

Sales and Marketing are like twin sisters and always go along for every business. A strong sales technique is important for driving business revenue and growth. Whereas, businesses won’t have anyone to sell to if they lack an effective marketing plan. The balance of marketing and sales involves an extensive strategy that can efficiently direct your potential customers to become your actual customers.

It is very important for any business to pay attention to the right sales and marketing metrics that will let them design the best and most effective strategy for meeting their sales and revenue goals. Sales tracking tool helps you better identify your target buyers, target potential customer issues, and improve your sales team performances by keeping track records of detailed analytics that quickly showcase what is working and what doesn’t.

What does a Good Sales Tracking CRM include?

Here are the following eight features that you make sure your sales tracking software platform should have: –

1. New Lead tracking

For a salesperson, getting new leads is always a top priority. Due to this, the sales tracking software that a business chooses should allow them to easily access important information about their potential customers like who they are, what is their source of generation, and at what stage the sales lead is in.

2. Sales Forecasting

Sales forecasting is the act of calculating future sales numbers. Many companies use sales forecasts to create important business decisions, predict upcoming performance, and properly allocate organizational resources.

3. Activity Reports

The best sales tracking software will show you a lot about your leads. But it should also track what you’re doing to approach your leads on a daily, weekly, or monthly basis. In other words, the sales tracking tool you select should also record and keep track of your sales activities.

This software feature is helpful for salespeople because it will allow you to simply see when you last contacted a lead, what was the last communication medium (phone, email, text, etc.) you have used, whether you get a response or not, the total number of times you’ve contacted them, and much more. This information can then be used for a sales approach that closes the deal.

4. Loss Reports

It’s important for every business to keep a record of their potential deals that have been called off, i.e. their losses. While it would be painful to look at the numbers of losses but knowing the specific reasons for losing deals helps businesses to enhance their selling approach and make sure that they don’t repeat the same mistakes in the future.

Analyzing your losses will also enable you to better forecast your sales numbers for a given month, quarter, or year.

5. Funnel Reports

If you are a visual learner, you may consider investing in sales tracking software that will allow you to trace opportunities in a very visual pipeline.

Many sales tracking tools will allow you to look at each section of your funnel in real-time to determine how close your leads are to procurement, what’s keeping prospects from traveling farther down your pipeline, and which sales tactics prove the foremost effective.

6. Conversion Rate

Generating new leads takes time. If you are able to convert more of the leads you have already got into paying buyers, you’ll drive more revenue without working unrealistic hours.

One of the foremost productive ways to extend sales is to spice up your conversion rate. A high-quality sales tracking CRM software will automatically tally conversion rates for every individual sales representative on your team, or by lead source or other attributes. You will then study these metrics to find out how you’ll improve.

Moreover, sales managers can view which sellers have the best possible conversion rates, analyze their tactics, and see how top team members consistently close deals. This information can then be passed along to struggling representatives.

7. Won Opportunities

When investing in sales tracking software, you must ensure that the solution you have selected will allow you to quickly access the information regarding your won opportunities and new sales.

As we mentioned above, knowing which deals you were able to close and therefore the sales strategies you want to do so is effective information, because it shows you the impact of your sales activities and also the contributions of individual sales reps.

Just as football game coaches watch tape of previous games to find which plays worked best for them in the past; you must view your won opportunities in order that you’ll pinpoint the foremost effective sales tactics available to you and deploy them more often.

8. Average Sale Price

The revenue per sale metric measures the typical amount of revenue you create for your company when you shut a deal. In general, the higher this number is, the better—as long as you’ll be able to still close deals at an even clip.

Revenue per sale is particularly useful if you sell different product tiers or offer multiple product upgrades. By assessing revenue per sale, you’ll discover how effective you (or your team, if you are a sales manager) are at upselling your customers or pursuing the foremost valuable accounts.

CONCLUSION

Make Smart Move with Sales Tracking Software

Using sales activity tracking software can offer you the complete picture of your sales team’s performance with respect to productivity, close rates, and projected revenue. Having your finger on the heartbeat of those numbers means you’ll make better-informed decisions more quickly. Whether you are a sales rep, a sales manager, or in a higher place, you’ll find the knowledge you wish to try and do your best by adding a sales activity tracker.

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Benefits of customer

Benefits of customer Profiling In Modern Business

As mentioned, the customer profiling system can be tough to implement and maintain on the long-term. This means that the benifits should outweigh the demand for time and attention to maintain an well-mainted customer base. This could be achieved through a customer profiling system.

In this situation, the right customer profiling can help businesses better understand their overall means of customer engagement.

In most businesses, the customers don’t come along with the same purchase intent or budget. They aren’t even expected to purchase the same products. In this situation, the businesses should have an effective to send relevant messages to the right customer segment. For this, businesses should effectively seggregate between the different customer profiles. This allow businesses to focus on rlevant messages to each customer segment, therebvy increasing conversions.

Apart from the initial offering, today most businesses try to upsell or cross-sell their products. For successful upsell and cross-sell campaigns, businesses need to discover the way to engage with their target customers. And, this requires better cusometer undrstanding. By accurate customer profiling, businesses can understand more about their audience requirment.In turn, this will allow businesses to offer impactful upsell/cross-sell oppurutintiies.

Different Types Of

Different Types Of Customer Profiling

Businesses can utilize customer profiling at different stages of their customer acquisition. By having these different stages, the businesses will be able to iterate their stratergies to meet the individual business requirements. Here are some of the different types of customer profiling in action.

Lead Profiling

As the name indicates, you can seggregate leads into different categories. This could be done based on different parameenters. For example, you can seggregate leads based on their source of acuqisiton, conversions or even expected revene.

An accurate lead profiling system have numerous benifits. For exaample, it could inform the marketing team about the campaigns that attracts the right audience. It also informs about the marketing campaign that responsible for wrong audience acquisition.

In this way, businesses can focus on their most valuable leads to expand their customer base.

Existing Customer Profiling.

For a business, the right customer would be the one that lasts the longest with the business. For this, the business need to figure-out the right segment of audience. This could be achieved thorugh accurately measuring customer retention across the board. By having a CRM-based customer profiling system, the business can accurately guage the entire customer data within a single platform. Later, this aggregated data could be utilized to discover the most profitable customer segment.

Creating Accurat

Creating Accurate Customer Profiles

As discussed, the customer profile could potentially drive the business stratergy. With this in mind, the wrong customer profile could lead the business down the wrong path.

Alas, all this could have a catastrophic result. In order to avert this, every business need to create their own accurate customer profile. This customer profile should accurately reflect the ideal customers who would be happy with the concerned business.

Enter a CRM-based customer profiling software. By having a unified cloud-based CRM platform, you can cover the different touch points associated with everyday business-customer interactions. This allows you to automatically aggregate customer data across these different touch points.

In this way, you can automate aggregating the overall customer data. Later, you can review and choose the right customer details to be followed that helps you better understand the customer.

For example, let’s consider a customer profile that has different profiles. This can includeCountry, age group, source of contact etc. By collecting and reviewing the overall customer data, you can create an accurate picture of customer preferences and behaviour.

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Profiling is Indispensible

Customer Profiling is Indispensible, Here’s Why?

Customer profiling tool isn’t simply yet another buzzword. It actually impacts the way that we interact with our customers.
This begins with the modern customer.

As it is, customers are now more informed than ever about every business. If not, they could simply research any business online from their smartphones. It’s also unbelivably easy for customers to leave a publicaly visible negative review about any business.

On the other hand, the businesses that has an overwhelming positive online presence will be able to attract more customers to their business. this means that businesses can afford zero margin of errrors at achieving overall customers satisfaction. For this, the business should be able to attract maximum customer sastisfaction within their business operations.

In other words, Business should be able to zero-in and attract the right target audience for their business. This would enable a higher level of customer engagement and overall success.

In these casers, businesses should have an effective framework to attract the right segment of audience. This audience segment would definitely need their particular business service.

A customer profiling platform enable businesses to create meaningful customer profiles that enable businesses to improve their efficiency. In turn, these customer profiles could be utilized to guide the entire customer acquisition and engagement stratergies.

What is Customer Profile Management System

Today, all businesses definitely need better tools.

Especially to understand their customers.

A customer profile management system could be the right tool to understand and manage their customer base. Well, let me explain.

At present, customers are more precarious than ever at their behavior. Most businesses struggle to attract and retain their customers on the long-term. Simultaneously, marketing messages also fail to make the right impact on the customer’s mind. If you combine both these, having to run a business becomes exponentially more expensive.

The customer profile management system could be the right tool to better understand the customers. In this situation, the business should focus on better understanding their customer’s mindset. Later, this customer understanding could be leveraged to create the right products, offers or even product packages.

In this article, we’ll discuss effective ways to define and iterate n your ideal customer profile. We’ll also explain the potential ways through which the right customer profiles can help you figure-out and expand your customer base.

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