How can Sales Managers leverage Analytics?
How can Sales Managers leverage Analytics?
When it comes to analytics, its best use is in directly helping the sales managers perform better in their job. A good sales analytics program should provide insights on the KRIs of sales managers, so that they can work smarter and deliver results consistently.
The good news with analytics is that everything is data or fact based. There is no ambiguity, no ifs and buts. Sales Managers don’t have to cut a sorry figure in front of their Sales directors in reviews. The reasons and justifications they give will be backed by data or facts.
Hence Sales Managers can leverage Analytics in the following areas:
Market Share
Identify categories, products, territories for improvement, factors that drive improvement, where company is losing market share, region wise causes
Revenue Growth
Identify categories, products, channel partners, territories with degrowth or not meeting plan, data or evidence based reasons such as competition pricing, stock outs, conversion %, etc
Gross Margin Improvement
Identify fast moving products that have low contribution to profits, identify focus products to prioritize
Conversion %
Conversion % trends, Pipeline analysis by product, categories, channel partner, monthly trends, factors impacting conversion % such as product availability, training, followups, pricing, etc
Channel Partner Profitability
Analysis of Partner Profitability, factors driving break-even such as inventory holding, staff cost, productivity, etc
Sales Productivity
Sales productivity trend, variation, factors for variation, staff experience, product knowledge, peak hour volumes, sales tools availability, etc
Promotion
Measure of success of promotions, % conversion, selection of duration, location and type of promotion, factors driving success of promotions, ROI computation
Network expansion
Plan for network expansion on geo spatial data of product density, competition density
Sales Satisfaction
Sales satisfaction trend by product, by channel partner, by customer type, factors to improve satisfaction
Learn more about 5 Reasons to Up-skill Sales Teams on Sales Analytics