14 Oct Is sales force automation the way forward for your business?
There are many small and medium businesses, where managers are confused and unsure about implementing a CRM or SFA (Sales Force Automation) system is worth the efforts, as well as the costs, incurred. There are many doubts and queries in the minds of business owners, and these queries need to be addressed.
When going through this decision for your business, there are many questions that you should ask yourselves. Everyone knows that the customer is a cornerstone of any business. Sales force automation is what allows you to create new customers and enable you to generate more business for your company or organization.
There can be more advantages towards using SFA or CRM for your business process. These are the systems that can make your business much more efficient and worthwhile.
Before we dive deep into the top 5 reasons why you should implement some form of CRM software for your business or a sales tracking system, let us see exactly what Sales Force Automation is. SFA systems are information systems that are designed to help and automate common tasks that are within sales processes.
SFA are commonly integrated as a part of a Customer Relationship Management System (CRM). Some of the primary elements of an SFA system include lead tracking, lead management, sales lead process tracking , order management, sales forecasting, and a product knowledge base.
Here are 5 reasons why sales force automation is the way forward for your business.
Humans make mistakes, and humans are not perfect. So you cannot expect your sales agent will remember every interaction, deadline, or an appointment that is done with every potential customer. There can be chances that the salespersons are overwhelmed with the leads and probable customers to follow up with.
Without implementing a centralized system to manage all these tasks or activities, the sales agents can easily become overwhelmed and can easily miss out on contacts.
The centralized system will be much more efficient than the manual process to carry out sales and it will minimize mistakes that can be made by humans.
Being efficient as well as persistent is a very much necessary trait that a sales employee needs to have, providing them with tools that will help them and motivate them to manage each and every follow up with their contacts is something that is invaluable to salespeople.
Most of the CRM and SFA tools enable you to not only manage specific contacts with a customer but also manage reminders about each potential deals that you have on the table for each of the potential customers leads.
Thus the centralized system implemented by SFA or CRM is the best way forward towards solving any inconsistencies that can be introduced by human efforts or by the manual processes.
This allows your sales professional or agents to manage and focus their time and effort on increasing the number of quality interactions, instead of getting bogged down by managing their obligations and potentially missing on the tasks that were required to be completed
Without the use of a tool that can be easily used to list out the potential deals that bring you business, how are the sales staff supposed to understand which task is the best use for their time? For many organizations, the number or amount of sales leads is not an issue but the quality leads that are being generated is an issue.
It may happen that the leads that are generated may not have much interest in your advertised products and services. Thereby the chances of these leads being converted into customers is less likely.
You don’t want the best staff working on poor quality leads. You want to make sure each resource is used in the most efficient and optimal way forward.
By using an online SFA tool, you can easily assign lead ranks to each potential deal or client that cracks, and you can easily form a clear segmentation between cold sales leads and the hot sales opportunities.
Assigning ranks means you get to prioritize leads depending upon their conversion ratio factor thereby allowing you to put more focus on these leads that rank higher
This is not only the advantage that you can use, but also you are able to track indicators of how important a deal can be, such as seeing the overall value, or the estimated probability that the deal will close, such information will provide the managers an insight to assigning the proper resource to every lead.
Lack of Forecasting and Intelligence:
This point takes a step that goes beyond just solving problems in sales processes, and move on to your sales process to solve problems that occur in other areas of the business.
With the use of the SFA systems, you are in a much better position to predict the outcomes of your initiatives. By properly defining the estimated outcome, you are able to make accurate predictions of your future income.
Moreover, SFA systems can be used for accurately predicting and analysing how sales leads behave and what are the likely-hood for them to get converted.
This tactic enables business managers to make intelligent decisions. About the resource allocation marketing budget and nearly every other aspect of conducting business.
Enabling or allowing others to monitor the cash flow of the business is simply an invaluable tool. When it comes to running a company forward, these reports are easily generated. When the sales team is disciplined and dedicated about their sales force automation tools.
Using metrics and numbers, you will easily be able to analyse where your sales leads are headed and what is the mean time for them to be converted to a customer. This is especially useful if you want to generate sales reports for your department depending on the sales data that you collated.
Beyond the traditional methods of forecasting, tools like this can enable you to get all sorts of reports and metrics. You can easily gain the vision as to which steps are required. In order for your sales process to perform at peak efficiency, and which steps perform badly.
You can also be able to differentiate between the sales that happen to depend upon the specific market segment. That helps you to refine and optimize your target market and the sales techniques that better fit the niches your business excels in.
Check on One-click: Employee tracking app
There is a saying that what gets measured, gets improved. By tracking each individual sale within the boundaries of the company, your sales CRM system can provide you a breakdown of your performance.
You will be in a much better postition to track and analyse the performance of each of your sales representatives. Doing this will provide your sales reps a chance to inprove their numbers and gain critical feedback on how they work.
You will gain the ability to run and analyse reports and see the steps of your process. But beyond this, you can also see how successful your employee is compared to these segments.
Basic reports can give you small but telling pieces of information such as how much revenue has an employee generated, or what is the percentage of opportunities does a salesperson convert.
This sort of intelligence on employee performance can help you improve focus and manage resources more intelligently.
Daily generating performance reports helps you to know if your company is headed on the right path or not. Your higher authorities will be able to use these reports skill-fully.
Many businesses even share the performance of their employees with their peers and this can promote healthy competition between the sales staff, and this will promote the entire team to perform at a much higher level.
Collaboration and data sharing:
The most important aspect is the ability to share data with your staff.
There can be many scenarios where your sales process can improve. If the sales agent can have a better understanding of who they are contacting or the past interactions that you have had with this customer.
A sales force automation system can provide the two major solutions which can help this area. The first advantage is the ability to manage business contacts in a central area that is accessible by all employees.
SFA systems can help you to analyse and make note of your customer behavior patterns and project your products and service offerings to them in a much better way.
The second is the ability to the interactions and history with every contact. This allows a sales agent to view a single customer record and instantly get a history. Like past dealings and the current deals.
When dealing with resources who leave the company or even an employee who is out sick for the day. This type of interaction plays an important role.
These are some of the reasons why businesses are moving forward by implementing SFAs for their operations.
There are immense benefits that organizations and businesses can harness and take advantage of to streamline their product operations. If you liked this article and have found it informative.
Then check out Field Force Connect, this is our solution for an effective Sales Force Automation. You can download and schedule a free demo for Field Force Connect by writing to us at firstname.lastname@example.org.