Every time a sales exec is asked to commit to a forecast number, all they wish for is that they had a crystal ball. “What’s the real deal with this customer? “How far are they in the sales cycle?” What are the chances that they would make a purchase decision in the next 2 months?” In reality, most sales execs end up guesstimating when a deal will be closed and end up applying fuzzy math to their forecasts.
Companies that haven’t yet adopted Sales Enablement are lacking the competitive advantage in capturing real-time analytics on buyer behavior. There are no answers to questions like:
- Did the customer take extra time to review more information after Sales Call?
- What are their immediate needs and what’s the best solution to service those needs?
- When is the best time to reach out to them and what is the right thing to say to move the deal to a close?
New advancements in Sales Enablement have made it easier to capture these insights resulting in the ability of sales reps to become more effective at forecasting sales results and customer purchase decisions. The process of Sales Enablement enriches the entire analytics experience with its ability to compare closing rates against forecasting timeframes. Additionally, Sales Enablement works to enable marketers to set timeframes that predict closing rates at different stages of the sales cycle while giving way to drill down and assess the effectiveness of marketing’s content collateral.
Robust analytics can also make it easier to compare data across the entire sales force: how are other sales reps fairing out when it comes to the sales cycle? Are they achieving success with email marketing? Are they producing effective presentations that are working to convert prospects into paying customers?
With better data, come better decisions
The success of the sales rep depends on accuracy in forecasting. Analytics give sales reps the power to be more effective when it comes to uncovering and benchmarking closing rates based on customer engagement and sales cycle stages. This kind of data arms sales execs with knowledge that enables them to understand sales reps and their progress without the need to interrogate them when sales aren’t coming in. The right Sales Enablement platform can consistently capture data and make for better forecasting. And with better forecasting, sales execs can work with sales reps on reaching their quarterly, monthly and yearly goals.
Sales Enablement is the key to taking the guesswork out of the Marketing and Sales process. What was once a biased best guess and a black box for sales execs, is today a means of improving closing rates. Sales Enablement is the closest thing to a crystal ball used to help sales reps make buyer-predicted forecasts.
What challenges are you facing when it comes to forecasting more accurately? Are you using the right analytics to predict customer behavior?
