Customer relationship management (CRM) software houses all your customer data in one place. Whether your sales team is primarily at the office, or out in the field, essential customer information is always at their fingertips. Thanks to this easily accessible data, your sales team has new tools to enhance every aspect of their work. It’s even possible for salespeople to check the status of prospects, identifying their exact placement in the sales funnel. That’s also great news for sale managers. It allows them to instantly track their team’s performance. They can also determine where leads get tend to stall out in the sales process.
There’s more to tracking sales performance than simply measuring the number of calls made and deals closed. The more customer and sales data you collect, the clearer the overall picture becomes. A CRM not only provides you with a system for tracking the “activities” of your sales team — calls made, emails sent, meetings taken — it also enables you to measure the “motion” of your sales efforts. This allows you measure the effectiveness and efficiency of any sales strategy or activity.
By tracking sales motion, you can see how potential customers move through the sales funnel. For the first time, you can see something once thought to be impossible: Tracking the ‘untrackable.’
Instead of viewing performance in terms of a specific set of actions, tracking motion allows you to measure process over time, gauging the success of your sales efforts over weeks, months, quarters, and years. It also gives you a greater degree of control over the sales funnel itself. Reps and managers can collaborate on ideas to move stuck prospects forward.
This new approach to the sales funnel can be baked right into the CRM itself. It will utilize the necessary tools and processes for tracking sales and activities and motions being put in place during the CRM design and implementation phases.
These tools can provide the insights you need to win deals, create strong customer relationships, and develop strong strategies for the future.
Lets take a look from the perspective of a VP of sales. Tracking motion within a CRM allows the VP to see opportunities stuck in some stage of the sales funnel. Additionally, he or she can easily track how long the opportunities have been lodged there.
From there, the VP can determine if the opportunity is stuck there because the deal stalled out or if the reps didn’t have the knowledge or resources needed to move them along to the next stage. The additional information CRM software provides grants the VP the ability to make educated decisions, instead of shooting in the dark or hoping for the best.
By examining the sales process, it’s even possible eliminate these “logjams” before they happen.