Do you know how productive your sales team is? You may think you do, but do you really? Can you show team members exactly what their productivity looks like in comparison to the rest of the group? If not, it’s time to consider a visual analytics solution.
Why Visual Analytics Work
You may have plenty of data on sales team productivity, but without a method to quickly share that data, in a format that’s easily understood, all you really have is a bunch of numbers. A visual analytics solution helps you take raw data and turn it into actionable insights that everyone can comprehend. The mind processes visual representations much faster than it processes numbers or text. By creating data visualizations, you can quickly spot trends in your sales team’s productivity so you can provide the necessary coaching and merited recognition.
With visual analytics, everyone references a single source of truth. That way, there’s no confusion about which numbers are “right.” And since everyone has access to the same data and can build their own data visualizations quickly, without IT assistance, you enable or improve transparency within your team.
Build Productivity-Tracking Data Visualizations with Real-Time Data
The best solutions integrate directly with your CRM system so you can use real-time information to build your data visualizations. Plus, you have the information at your fingertips, not locked away in a separate Business Intelligence tool.
The following data visualizations can help you better understand whether your sales reps need to work smarter, harder, or both.
Compare Sales Performance by Sales Rep
By reviewing win/loss ratios for each sales rep, you can get a sense of who is producing and thriving—and who needs a little extra attention. One chart makes it easy to see which reps are winning more opportunities than they lose, as well as which have ratios that are out of whack. You can pull all the data you need into one data visualization for an accurate picture of how your reps stack up.
Identify Top and Bottom Performers by Deal Size
Of course, win/loss ratios only tell part of the story. You can also create a data visualization to identify top closers by deal size. Then, use all of the information for a more complete understanding of which reps are producing at a high level. For example, if you have a rep that consistently closes big deals but loses many more opportunities than she wins, her win/loss ratio may not be cause for concern. Perhaps she’s just more aggressive in going after opportunities. On the other hand, if you have a rep who only closes small deals and wins most of his opportunities, you may need to encourage him to set his sights a little higher.
Get a Clear Look at Productivity by Sales Rep
Has this ever happened to you? You think a rep is super-busy because he or she is always diligently making calls or meeting with opportunities. But the sales numbers just don’t reflect all the work that rep seems to be putting in. Is it bad luck, or has the rep mastered the art of looking busy while doing little? Find out with a data visualization that breaks down activity by sales rep. You’ll be able to see who’s doing what and when, and you’ll be able to compare activity levels across all sales reps.
Set Productivity and Performance Benchmarks
Once you have all the data laid out in a cohesive, easy-to-understand fashion, you can develop better insights into productivity and performance. You may find, for instance, that you can nudge up your productivity benchmarks because half of your sales team is already meeting or exceeding those numbers. But if the data shows that none of your reps is in the ballpark, you may have an underlying issue that needs to be addressed.
Best Practices for Sales Departments
Implementing a visual analytics solution is a simple and effective way for organizations to improve sales team productivity and performance. And pre-built interactive dashboards from iCharts make it easy to employ proven best practices for managing sales teams and boosting overall revenue.
Our iCharts | Cloud Enterprise customers can access these dashboards as a standalone product or as an integration within NetSuite or Salesforce.