Tracking and managing the sales cycle is paramount to the success of every business, but despite this, many have failed to master the process.
What is Sales Tracking Software?
Sales tracking software automates and streamlines the process by which you capture, track and manage new business opportunities. It begins with establishing a sales methodology often referred to as your sales process. These are simply the steps that are taken during each phase of the selling cycle. The steps are then automated so that management can see a snapshot of where each opportunity is in the sales cycle and can be proactive towards moving them to the next stage.
In the sales opportunity shown above the stages are outlined as follows.
Here you are introducing your product or service to a prospective customer.
- Needs Analysis
During this stage you are identifying if your product or service meets the prospective customer’s requirements.
Here you are trying to qualify the buyer. Do they have a budget and a timetable for their decision? Are the decision makers involved?
- Quote Sent
You have submitted a proposal or quote.
- Verbal Agreement
Things look good as you have received a verbal agreement to purchase.
Congratulations, you won, and the deal is closed.
The actual stages or names in this CRM Sales Tracking system (Commence CRM) are completely customizable and should reflect the specific stages of your selling cycle. The automation is key here because you can then view every new opportunity, where it is in the sales cycle, what is required to move it to closure, the probability you will win and the estimated close date. This has proven to significantly improve monthly and quarterly forecasts and close more deals.
Sales Pipeline View
This is the power of Sales Tracking Software and why it is helping companies significantly improve sales execution.
The post Understanding Sales Tracking Software appeared first on Commence.
Title: Understanding Sales Tracking Software
Sourced From: commence.com/blog/2021/10/04/understanding-sales-tracking-software/
Published Date: Mon, 04 Oct 2021 16:55:46 +0000
Did you miss our previous article...