The advantages and disadvantages of sales software
Your sales team might think that their current processes are effective—and perhaps they are—but until you see the data, you won’t know for sure.
Sales tracking can help businesses, big or small, by optimising your sales performance and giving you better overall results.
Here is what you need to know about sales tracking, the advantages, and what you need to be wary of.
What is sales tracking software?
But first, what is sales tracking software? The process of monitoring, recording, and analysing your sales activity is known as sales tracking.
Sales tracking software is a modern strategic tool that allows you to see your raw data in real-time, giving you an unbiased view of your current sales practices.
With sales tracking, you will be able to pinpoint areas of success and identify any areas that are in need of improvement.
When used correctly, you will have an insight into each piece of the sales process to help you make data-driven decisions, refine your procedures, and adjust your goals to improve your business.
The advantages of sales tracking
Along with call logs, client notes, and holding emails, your sales tracker will deliver a plethora of benefits to your staff and therefore to your business. Here are just some of the advantages that accompany the use of sales tracking software:
Insights based on real data
With sales tracking software, there will be no more guesswork involved. With the real data in front of you, you will have a true reflection of your sales statistics.
Tracking your data in real-time will also mean that you can make quick decisions based on what’s happening today, rather than mopping up from a previous week.
Track individual staff statistics
45% of organisations use their data specifically to assess the performance of salespeople. Sales tracking enables managers to monitor individual sales performance with ease, allowing you to identify those excelling in their role, and those who are under performing.
Being able to track the number of deal closures, revenue generated and much more, you can keep a close eye on your team and identify any areas that need further training or general improvement.
Accurate sales predictions
Tracking your sales also means that you can plan for the future accordingly. With accurate predictions, you’ll be able to budget better and plan for any foreseeable issues.
The power to forecast will increase your chances of achieving your sales goals and will lead to better decision making and resource allocation. Such elements are essential to the success of your business.
Reduce human error
When your staff are stressed or under time pressure, mistakes are inevitable. Using sales tracking software dramatically decreases human error and allows your employees to fully focus on their primary job.
In addition, utilising such software will also give you greater confidence in the data that you collect. A sales team with reduced human error will also have a boosted morale as a result—something that can be beneficial to your business.
Identify potential problems
Similar to Findmyshift’s real-time reporting, utilising a sales tracker will give you real-time insight into your staff’s efforts. As a result, you’ll be able to identify and track any potential issues on the horizon and rectify them before they become critical.
In turn, your sales team will be overall more productive, efficient, and your business profit will only increase.
What to watch out for before you embark on sales tracking
Despite the many advantages, there are certain scenarios where sales tracking software may not be the best move for your business. Here are a couple of circumstances to be wary of:
New software can be costly
If you’re considering implementing sales tracking software into your business, it is important to thoroughly research the options available to you. Different vendors will have different pricing options, some of which increase as your team expands.
Not only is there an initial up-front cost, but you will also need to account for the time it will take for your staff to learn a new system. If your business is in its infancy, perhaps implementing a costly software can be something you place on the backburner.
Without a solid process in place, it’s pointless
Tracking your sales metrics isn’t the end solution to improving your process. In fact, without a solid process in place, it’s pointless.
A misused sales tracker can evolve into a chaotic tool that’s more of a hindrance than a help. Before diving into the world of sales tracking software, ensure that you first have an effective sales process in place.
If you invest, do so wisely
Remember that implementing sales tracking software is only half of the battle—it’s what you do with the data that counts.
When used correctly, sales tracking can help you make educated decisions based on accurate statistics. As a result, sales processes will be streamlined, losses will be minimised, and your team will be more efficient, savvy, and productive.