Work Smarter Not Harder With Sales Analytics
Use sales analytics and data to take your business to the next level. Predict business growth, prepare for new challenges and optimize performance with data.
Business growth can be achieved by working smarter, not harder. Instead of expanding your sales team and putting pressure on individuals to meet KPIs, it’s time to use data to give yourself an advantage. Knowledge is power, and the more information you have about your target market, buyer trends, and competition, the better.
While you probably already have a sales department focused on converting leads and ultimately making sales, have you ever explored the benefits of revenue operations and sales analytics?
By adding a revenue operations team with data analytics software to assist your sales reps, you can analyze your performance, customer services, digital marketing strategy, and sales targets.
In this article, we’re going to take a closer look at the key differences between revenue operations and sales operations and discuss the benefits of using sales analytics to boost business growth.
Revenue Operations vs. Sales Operations
While both teams will be working towards the success of your company, there are some key differences between these two roles.
Sales operations will be focused on a single aspect of your business — sales. This team will encourage and support sales reps to up-sell, sell more, and convert customers more efficiently.
On the other hand, revenue operations work behind the scenes and oversee finance, marketing, sales analytics, and customer experience. RevOps will help focus all departments on a shared goal and streamline their approach for optimum performance.
While sales operations will step up your conversion rate and strive towards sales targets, a revenue operations team has a comprehensive approach to business growth. This team understands that each department needs to be working in sync for optimum performance, and their job is to make this a reality within your business.
Now let’s add sales analytics and historical data into the mix!
Sales Operations With Predictive Analytics
To transform the way your sales department operates, you’ll need to introduce data-driven goals via predictive analytics. Using your historical sales data and metrics, you can begin to uncover valuable insight into your most popular and profitable products or services and key buyer trends to make predictions for the upcoming year. Having a forecast based on your unique business data will help you make more informed and better business decisions related to stock, KPIs, quotas, and pricing strategies.
Data held in your CRM, sales emails, chatbots, and Excel spreadsheets can be used and analyzed to make smart business decisions and save your company valuable time and resources. While a sales team can analyze data themselves, it might not be their strong point, so leave sales analytics and data crunching to RevOps instead!
Revenue Operations & Predictive Growth
Revenue operation software aims to arm businesses and RevOps with sales analytics and key metrics to unlock the power of predictive growth. By investing in revenue operations software, you can take advantage of the following features and benefits;
● Guide your sales team to success through current and predicted quarter-end numbers of the whole team and on an individual level.
● Revenue forecasting using historical sales data to make highly accurate predictions that your sales team can work towards.
● Sales analytics software will also allow you to take a snapshot of each week’s growth and discover prime times to seize opportunities to sell or increase your stock.
● Track KPIs across your department and based on the predictive data. This makes KPIs more achievable for your team and a true reflection on how your business should be performing month on month.
To learn more about the role a revenue operations manager can have in a Saas company and how you can unlock company growth, feel free to check out my blog.
