Sales Data Analytics

What is sales data analytics software?

Providing your sales forces with the right tools is key to achieving your sales goals. Data analytics can help, but what exactly is sales data analytics software? 

Sales data analytics software is a type of software that uses data from your sales team, customers, and business data to give you the information you need to make better business decisions. Data analytics software can optimize your sales team, improve your customer experience and help you better understand your business.

Why is sales data analytics software important for business?

Based on previous data from similar campaigns, automatic sales analytics help you see how well your marketing and promotions are working. And even find out how effectively your sales professionals are engaging and conveying products USP with your customers. 

The results can help you decide where to spend your sales efforts—for instance, on a new product or service line or on an existing product that’s nearing the end of its lifecycle. They can also answer specific questions like which repeat customers versus first-timers made purchases. By tracking your information in real-time, these advances give you more insight into your customers’ behaviors than historical records alone could offer. You can use this information to sharpen your approach (for example, by emphasizing price cuts), improving customer satisfaction while optimizing overall efficiency and profit margins.

Now that you know what sales data analytics software does let us show you what analytics to add for your analysis.
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Sales data to analyze for revenue growth

Breaking to the vastness of sales, there are multiple areas that can be analyzed separately. Based on that, different metrics you should be tracking different metrics. You can enable one or multiple of these sales data analyses based on your goal. Here are some of the different types of data and activities analytics data you should be thinking about adding to your analysis sheet.

◼️ Sales activities

Tracking your seller’s daily activities can help you understand:

• How are they engaging with your customers?
• How many calls in a day do sales reps make?
• Are they effectively conveying the product’s USP and offers?
• How many sales opportunities do you have?

And a lot more. So doesn’t it make sense to track your seller’s daily activities?
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◼️ Sales performance.

This is a crucial analysis not for understanding if you are reaching your revenue goal but also for tracking:

• the KPI of sales reps,
• Training opportunities,
• Challenges,
• Quota attainment.

By recording and analyzing daily sales calls with Convin, you can track sales reps' performance by scoring every call based on custom metrics along with analyzing sales reps' responses, interruption, response rate, and soft skills.
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◼️ Sales trend analysis

Sales pattern analysis is like counting sheep. 

Finding certain patterns in the data will lead you to truer insights about the circumstances impacting your business that information would have been very difficult to get at without sales pattern analysis. 

It's easy - all you have to do is isolate any number of products, customers, or places for a specific timeframe and look for patterns such as how many products were sold during a period or what features they had based on the results. The patterns will help you make predictions into how better run your sales department or reorganize inventory based on specific areas that need more focus and improvement.
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◼️ Predictive sales analytics

From the above we can graph created after the survey ran by Jedox shows that predictive analytics solutions are in top priority for the industry.

Why?

Let’s see

Just because your product is out in the market, just because you're selling it, doesn't mean you stop selling it. In fact, that's when selling actually begins. 

Once you have customers using your service or product, that's when the most important job becomes keeping them happy. Sure there are always new customers to aim for and new leads to chase down - but the most successful way of managing sales is by analyzing trends of those who already have bought from you. Predictive Technologies that analyze sales data can help do this for you automatically. (and let's be honest here - we all love technology that does things for us automatically!!) 

By looking at past data, we can predict what will happen in the future - let's say like maybe a customer used your product exactly twice before losing interest and leaving? 

This information is then fed into your CRM system directly.
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◼️ Sales pipeline analysis

"Trusted sales pipeline forecasting analytics" is crucial to review whenever you engage with a specific contact through the leads page. It also allows a deal to be reviewed more closely in order for you to offer instruction so that your sales reps will broaden their efforts in closing the deal.

Routine pipeline review meetings are crucial to get the context of deals that your sales reps are pursuing. Convin offers robust sales pipeline forecasting analytics by letting you quickly review opportunities on the call analytics.

Convin enables an entrepreneur to view interactions with contact through call analytics. The entrepreneur can gain context around a deal so that they can instruct their sales reps to carry out sales activities on a client's lead to advance towards closing its sale.

Not just this, analyzing sales data can even help you gain insights on your competitors, market, and changing buying behavior. Convin precisely understands this data is really crucial for new startups. That’s why it provides this and more at a pocket-friendly price. 

Let’s have a look.
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Convin’s sales data analytics software

Convin records, transcribe, and analyzes daily sales calls for crucial business data and then sends this data post-calls to all the concerned teams.

Call tracking and sales funnel analytics have been shown to increase the deal size of opportunities on average by 25%- 75% for medium and high complexity pre-sales outcomes. The real power of Convin's sales data analysis is its ability to uncover the call performance and customer needs and concerns, and using this data, your sales marketing team can outperform their ABM targets. 

You can even track sales activities remotely and check how much time an employee asks for during rebuttal on the report of their monthly sales. If you want to track an employee's future sales results along with progress against those of other employees who were given similar feedback beforehand, you can get with Convin.
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How does Convin’s sales data analytics software work?

Convin’s sales data analytics software is easy to deploy and easier to use. 

Step 1: Integrate
Convin easily integrates with your calendar, dialer, cloud telephony system, video conferencing platform, along with Slack and CRM. Using the calendar meeting link, Convin automatically joins the meeting for recording it.

Step 2: Record. 
Then it starts eavesdropping on your conversations and even records them - how shameless?

Step 3: Transcribe
After recording the call, Convin transcribes the entire conversation - that means no more note-taking.

Step 4: Analyze
Convin analyzes on the basis of custom parameters and then highlights for you the call insights like; topics discussed, queries, feedback, call performance score, soft skills, actionable items, etc.

Step 5: Share
Remember integration with your Slack. and CRM?

Covin readily shares the insights directly to mail Slack and logs the data in the CRM.
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Convin’s sales data analytics software is completely secure

We at Convin understand how important customer and call data security is; that is why we ensure your data is completely secure and safe with our in-house transcription and NLP engine. We ensure for call data security:

• Secure login and monitoring
• Hosted on AWS
• SSL data encryption
• Role-based access control
• Enterprise-grade application monitoring
• GDPR compliant meeting recording
  

Convin, as of now, supports English, Hindi, and Hinglish. And it takes less than a week to get us onboarded, so don’t wait, ask for a demo now!