When was the last time your sales forecast hit the nail on the head with 100% accuracy?
I’m going to take a wild guess with… never.
Sales forecasts are often built on what we’d like to achieve, not what’s realistic. This is often because forecasts aren’t created using actual sales data.
Recent Aberdeen sales effectiveness research found 56% of top performing sales organizations invest in sales analytics and forecasting solutions, versus only 42% of all those surveyed. This isn’t surprising given the wealth of insight you can garner from your sales activity data.
The Benefits Of Using Sales Activity Data
- By analyzing historical sales activity data, you can:
- Understand which deals have the highest likelihood of closing
- Improve pattern recognition of the sales activities that lead to closed deals
- Base hiring, coaching and ramping on data—not intuition
- More accurately forecast deal sizes
Aberdeen additionally found that companies using sales analytics are 93% better at walking away from bad deals and 33% more able to identify which opportunities are most and least likely to close.
Once you have access to 100% of sales activity data, you’ll finally have a complete understanding of your sales process and thus be able to position your most valuable resources where they matter most.
Ultimately enabling sales leaders to finally create forecasts based on data, not intuition.
Gathering Comprehensive Sales Activity Data
While the benefits of using sales activity data are pretty clear, not everyone is doing so. This is often due to a lack of faith in the comprehensiveness and accuracy of the existing sales activity data.
Let’s face it, it’s unlikely any of your salespeople joined your organization because they have an innate love of data entry. Rather, updating your CRM is most likely their least favorite chore of the day. That’s why they typically don’t add in all the people they’ve come into contact with at a company, and don’t track all their activities on an opportunity. You’re incenting them on closed won deals, not on data hygiene.
At People.ai, we’ve come up with the solution to this common dilemma. We automate the updating of your salespeople’s CRM records to capture every last sales activity and contact record. Schedule a demo today to learn how People.ai can help you regain your faith in your sales activity data.