BI (Business Intelligence)
Acquire a BI (Business Intelligence Tool) to turn your data into visually attractive dashboards.
Today, the most innovative companies make smart use of their data to optimize their business processes. In order to do so, Business Intelligence Tools have become a useful instrument in any domain of business: marketing, finance, HR, product development, and… you guessed it: sales.
Business Intelligence tools help you translate raw business data into visual dashboards and easy-to-read visualizations. They help you visually present and interpret the data in an easier way, in order to make better decisions much faster.
As a sales manager, BI tools are useful to get an up-to-date overview of your sales & partner revenue. But there are many more creative ways you can use dashboards as a sales manager. Let’s have a look at 3 different use cases on how to use dashboards to oil your sales organization.
1. Use dashboards to monitor sales trends
A sales trends dashboard gives you a solid overview of your complete sales cycle. Monitor your average sales cycle to understand how it impacts the pipeline, or monitor which products generate the most revenue. This all helps to make well-informed decisions within your sales organization.
2. Use dashboards to boost healthy internal competition
Many successful organizations use dashboards to track the performance of each segment, region or team. Of course, the idea is not to micromanage, actually, it’s the opposite. By boosting a healthy level of competition, your sales team will stay creative and motivated to come up with new ideas to improve their results. Team dashboards help identify high performers who can share their knowledge with other team members or identify who in the team might need assistance.
3. Use dashboards to upsell partners’ customers
Last but not least, BI tools are not only useful for internal use. Many times, but your end client also needs insights just as badly as you do. This holds true especially when you’re selling software or services. Often, customers are willing to pay extra to get more insights into the results or statistics behind using your software or services. Upsell your clients by offering these dashboards embedded inside your partner portal, BRM or CRM software.