Sales tracking allows you to keep track of every activity your sales reps are doing so you can see what’s working and what isn’t.
Let’s dive into sales activity tracking in this article.
What is Sales Tracking?
Sales activity tracking is a process of recording and analyzing sales progress. By tracking sales activities, your sales team will clearly understand what and when they need to perform tasks. They’ll also keep updated on who they should contact to ask for support and guidance when necessary.
Sales activity tracking also provides valuable insights that will inform your decisions for future sales efforts.
Why Is Sales Activity Tracking Important?
As said above, sales tracking is a way to keep track of sales data and how it changes over time. It’ll allow you to understand the number of calls, meetings, and emails you have with potential clients and the number of proposals or contracts you’re working on.
Sales activity tracking is also a key component of managing a sales team. It can help you identify, for example:
- Where are your sales coming from? What channel does bring the most qualified leads and opportunities?
- What activities are taking up most of your team’s time?
- Which members of your team need more training or support?
- Are there any problems that need to be addressed immediately?
By doing sales activity tracking right, you can focus on the most effective marketing strategies and tactics. You can also predict when certain products will sell better than others, which helps you plan ahead with inventory and other resources.
Steps to Track Sales Activity
To start with tracking sales activities, you can take the following steps:
Step 1: Determine Key Sales Metrics to Track
The first step in tracking sales activity is deciding on the key performance indicators (KPIs) and metrics you’ll use. Since every business is different, there’s no one-size-fits-all approach. You’ll have to consider your industry, goals, and what kind of data would be most helpful when making this decision.
Step 2: Set Up Your Sales Process and Sales Pipelines
To track sales activity effectively, you need a system. Determine how many steps there are between when a prospect first contacts your company and when they purchase. Then, lay out all the necessary actions your team should take to convert that prospect into a customer.
You might also want to set up a sales pipeline for each deal so that you can track its progress through each stage of your sale funnel.
Step 3: Centralize Data into One Place
The next step is to gather your sales data into one single source of truth. There are a few ways to do this, but the most common is using a revenue intelligence platform like Revenue Grid. Once you set up this platform, it’ll show you all the data you want to know in real-time. No more missing information or data silos.
You’ll get actionable insights into how each sales team member performs and which ones are getting the most leads. You’ll also see which campaigns generate the most revenue and where there might be room for improvement.
Step 4: Turn Your Data into Actionable Insights
In this step, look for patterns and trends. Identify changes in customer behaviors or preferences, evaluate them based on their significance, and use them as the foundation for your decision-making.
Step 5: Share These Insights With Other Teams
Finally, share insights with other teams so everyone can understand what’s happening in each department and can offer support where needed. Doing this also gives them an opportunity to learn from each other’s mistakes and successes.
Sales Tracker Software Example
If you’re tired of having to track your sales activity in a spreadsheet, you can start automating your tasks with sales tracking software like Revenue Grid.
Revenue Grid is a cloud-based solution designed to help you track your sales reps’ performance by giving them access to real-time data about their sales pipeline and the status of each opportunity.
Revenue Grid gives you an overview of how much revenue your team has generated over time and who has been responsible for it. They can also use analytics tools to see how each channel performs. That allows them to optimize their marketing efforts or identify areas where they need more training or support.
Last but not least, Revenue Grid also offers tight integration with Salesforce. So there’s no need for manual entry or updating across multiple platforms — your data will stay organized and consistent.
Organize you sales activity tracking with Revenue Grid