Sales Intelligence – The Key to Sound Sales Cycles
Sales Intelligence can be aptly defined as a suite of investigative applications that allows sales analysts, managers and executives in sales as well as various organizations to optimize and evaluate the main processes, address and fix alignment gaps and execution and offer meaningful information insights that helps in fostering improvement. Furthermore, sales intelligence also allows in greater sales precision by simplifying the information barriers present across the sales processes to attain perceptive insights time to time. Organizations make use of lagging indicators of sales performance, generally from sales commissions or transactions to analyze the scopes in sales pipeline and hiring plans. Furthermore, it allows any organization to maximize the revenue, enhance profitability and the overall sales accuracy. A study conducted by the Aberdeen Group in 2008 focused on the expansion of traditional sales circles owing to the recent economic downturn. This compelled businesses to slow their spending curve. In addition to that, the sales representatives had to cater to their targets. Top performing enterprises had put into use sound sales intelligence tools that improved the sales leads quality and quantity. Furthermore, the SI application helps in contextualizing opportunities by providing essential personal, industry and corporate data that comprise Customer Relationship Management. Top IT organizations have introduced social sales intelligence solution that offers a competitive advantage. It allows evaluating personal and professional network efficiently and throwing light on various contacts an organization is connected to and the relationship route map. Simultaneously, it helps in discovering critical associations and relationship can have in the future. As a result, it led to maximized profits and faster business operation. Other advantages are listed belowProvides cordial introductions that help you to simplify the prospecting method Enables in closing sales deals quicker The pipeline velocity is increased by connecting with and identifying the decision makers and main prospects Helps you access complete profiles of companies as well as entities Helps in building and enhancing your sales network by locating people worth networking Helps you to manage your total network by mixing all the contact sources into a single application Eminent providers of sales intelligence solutions are industry-centric in their personalized solutions that help in consolidating a huge percentage of customer data across the enterprise. With the introduction of CRM cloud systems and SaaS applications, the SI service providers have converted all their solutions to cloud. Also read on: sales pipeline management, sales productivity