Sales is the ultimate endurance sport, it takes discipline and perseverance over the long haul. Velocify’s ReportHub is the fitness tracker of sales because it tracks the sales team’s every move. It also gives the coach (sales manager) the best insights (end-to-end CRM analytics) to motivate their reps on a daily and weekly basis, setting the rep up to achieve their long-term goals.
End-to-End CRM Analytics
Jim Dickie at CSO insights conducted a focus group with several sales leaders a few years ago. When he asked the question “What does it take to turn a lead into an opportunity?” someone in the group shouted out: “It takes a miracle.”
This reality is all too common in sales organizations today. Most sales reporting tools only focus on the account executive role – providing pipeline reports from opportunity to close. To do real sales performance analysis and to truly collaborate with marketing, you need deeper CRM analytics to understand the lead journey from the time marketing delivers the lead to sales all the way to close.
Velocify’s ReportHub has a unique focus on lead qualification to opportunity, while also doing what others offer from opportunity to close, giving sales leaders the ability to truly use the data end-to-end. This helps sales leaders make sense of a multitude of data points collected each day regarding which reps, lead sources, and sales strategies are performing well, and which ones aren’t – ultimately helping organizations convert more leads into opportunities and more opportunities into closed deals.
The Future of CRM Analytics
CRM analytics will support adherence to key performance indicators but the true value will come from real-time consumption of analytics to improve sales execution. Some of the improvements in execution will come in the form of artificial intelligence applications like chat bots and automated email message responses. This automation will mainly replace short-form communication, freeing sales reps up to focus on more meaningful engagements with their prospects. CRM analytics will help reps create stronger connections with their buyers by serving up real-time insights at the point of engagement. Other executional improvements will be process based. Applications will consume performance data and optimize automated process in real-time for the best results.
The use cases are limitless for sales organizations to improve processes, automate routine tasks, and enhance the service sellers provide to customers. For CRM analytics, big data, and artificial intelligence, success requires deep domain expertise, an understanding of the customers, and the experience they expect.
Big Data Limitations
The biggest flaw of big data is that many competitors are using it as an end. Rather it is a means to an end, and you have to use it carefully and transparently. In other words, you cannot use big data to create blanket recommendations with no reason or transparency as we see with many predictive technologies today. Overuse of big data can lead to false positives. Velocify is using and modeling big data for transparent and prescriptive recommendations based on clear reasoning.
About the author: Manoj Goyal joined Velocify in 2015 as the Chief Operating Officer. Manoj leads the product, technology, and client success teams, utilizing more than 25 years of experience in advertising technology, big data analytics, and content management. Prior to joining Velocify, Manoj served as the first chief technology officer for the video monetization platform ZEFR. Manoj recently served as senior vice president of engineering at the advertising technology pioneer OpenX, where he led product strategy, technology and data science. He also led the introduction of a massive-scale database solution at Hewlett Packard as executive of Cloud Services and has held senior positions at Oracle and EMC.