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Optimizing your Sales by Data Analysis

Optimizing your Sales by Data Analysis

The most successful teams who have worked wonders in selling products did not have the best machinery nor the best people but they made the most of what they have to elicit the best results they can get. Sales professionals are at the frontlines of almost any type of business. It comes in many forms too. Some people are sales attendants on physical shops answering customer’s inquiries about certain products and making a pitch so they can be convinced to make a purchase. The internet has also brought in a new form of selling which is through social media and other online platforms. The traditional or classic form of field sales still exists today and remains to be one of the biggest generators of sales revenue. The question now that every sales team wants answered is how to best boost your numbers without spending more.

With the coming of new technology termed as sales optimisation systems, teams of sales professionals can now easily create a way to collect valuable data for sales analysis. The most common questions that need to be answered are “what type of customers will most likely buy our product”, “Where do we find these types of customers?” and “what approach is most effective on these types of customers?” With a system designed to collect data systematically the only thing left to do is to collect the answers to these questions.

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Data analysis is a critical part of the research process which has been used for decades in various disciplines to guide experts in making decisions. Data analysis is a more systematic approach at learning from experience. In life you use past experiences to make decisions in the present. Data analysis is no different but if you do not have a systematic way of drawing a conclusion from hundreds or even thousands of sales interactions then all your efforts would be like an aimless shot in the dark. Data analysis employs statistical tools to ensure the accuracy of conclusions being drawn from the process.

Even before the coming of the computer age, data analysis has been employed to determine customer characteristics which would guide sales professionals on how to best position their products. Manual spreadsheets, ledgers, survey forms and questionnaires are the most commonly used means to collect and gather data from customers. Today much software is available to automate the whole process. With the use of a sales team software, sales professionals can now conveniently record data and make it readily available for analysis.

Every single sales interaction is an opportunity for the sales professional and the organization to improve. To speed up this process the organization or the team must ensure that every piece of data obtained from these interactions must be recorded and analyzed. Data that is not collected cannot be used for analysis and data collected but not analyzed offers no use at all. Most of the time, the answers to the most puzzling questions you have are right in front of you.