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10 Ways to Crush Your Sales Goals with Analytics

The new backbone of sales success.In sales, you’re always looking for an edge. And in today’s hyper-competitive environment, it’s

more important than ever to move quickly, jump on innovation, and consistently reinvent the

way you do business.

Data is here to help. Today’s advanced analytics give you unprecedented insights into your

customers, processes, competitors, and market—insights with the power to revolutionize the

way you sell.

Studies have confirmed what you’ve probably observed: Sales teams that use advanced

analytics increase their speed-to-market, revenue, and profits. Whether you’re looking

to increase cross-sell and up-sell opportunities, trying to improve your territory design,

or projecting pipeline, data has become the backbone of sales success.

10 Ways to Crush Your Sales Goals with Analytics 1

High sales performers use data.1

97% of sales outperformers have real-time, self-service access to

customer or account data.

60% of sales outperformers consult sales reports at

least once a day.


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The top 10 analytics use cases in salesEvery member of your sales team—from the front lines to the boardroom—should have access to deep, relevant information

that impacts their role and your business. On the front lines, analytics will drive prep and planning for customer interactions.

In the boardroom, analytics will drive the broader decisions that increase market penetration.

Where is data having the most impact in sales—and where should you focus your analytics efforts? Today’s sales organizations

are using analytics to:

Target more granularly

Interact more personally

Transform CRM data into deeper insights

Better manage pipeline

Forecast more accurately

Minimize account risks

Reduce expenses

Boost performance

Optimize product mixes and pricing

Tighten alignment with finance and marketing


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SAR AH FORMANBT Financial Group

Qlik® has brought significant

transformation. We now have

a really detailed picture of

our current reality that we

can use to target our efforts

to make a difference. This

has let us sustain our high

performance year after year.”

Target more granularly.Trying to identify the targets most likely to buy? With analytics, you can quickly assess your

prospect and customer bases. Tap into demographics, buying histories, and company strategy to

identify the most promising prospects and find the right customers for cross-sells and up-sells.

You can even customize target lists for best results, focusing on opportunities in the late stages

of the sales cycle; earlier in the pipeline; and in specific markets, industries, and functions with

past success.

Sales analytics empower you to:

More effectively segment your market with broader, deeper insights into customers

Improve profits with specific cross-selling and up-selling targeting

Blend different data sources to leverage customer demographic, historical purchasing, social, and third-party data


The power of all your data.If you’re trying to analyze your data while it’s still siloed, you’re letting valuable insights go undiscovered. Instead, focus on bringing all your data together into one platform, where you can analyze all the connections within it:

Financial

Customer service

Supplychain HR

ERP CRMMarketing

automation


2 Interact more personally.Customer expectations have changed—dramatically. And providing a great experience is key to

sustaining growth. With analytics, you can bring all your customer data and feedback together to

manage and improve the customer experience.

Better understand what customers want. Identify and prioritize actions. Measure your progress. And

get critical insights about customer needs and potential product offers, leading to higher-quality

meetings and improved conversion rates. Your depth of insight will lead to a more sophisticated

sales approach.


Get a competitive advantage by bringing together all your data from all your customer communication channels—including indirect ones, like partner ecosystems and supplier performance—into a single platform

Access rich insight into customer needs and potential offers, on any device, anytime

Visualize customer interaction data across an unlimited number of dimensions and analyze information in any direction against underlying data sources


3 Transform CRM data into deeper insights.Your CRM platform is a lifeline. But no matter how great it is at enabling sales, chances are, it doesn’t have the analytics

capabilities you need. Reporting is usually static, with no view into changes over time, and it requires data experts—which

means you have to submit requests and wait for results.

And while a CRM platform gives you the information to manage existing customers and prospects, sales analytics provide

the intelligence and insights to reach the customers and sales you want tomorrow.


Go beyond CRM data on leads, contacts, and accounts to seek out relevant and historical data from a variety of internal and external data sources

Liberate your users to explore your CRM data in any direction across regions, reps, products, deal states, and more

Get a view of the customer’s behavior in near-real time to determine which products to show, what the potential revenue of a specific deal might be, how long the sales cycle of the deal might be, and more


4 Better manage pipeline.Pipeline management doesn’t have to be a slog. With analytics, you can make it an opportunity

to excel and differentiate—by combining data from multiple sources to create a more accurate

and current view of the sales process. And with a platform that includes collaboration, you can

invite all stakeholders to add context to the ongoing analysis.


Consult a single view of leads, contacts, accounts, and campaigns

Visualize lead and opportunity progression

Forecast revenue and allocate efforts on the best opportunities

Get deep insights into each deal, showing why certain opportunities are at risk and which steps can speed closing

More deeply analyze conversion rates

In the first week of using Qlik, a global bank discovered that 10% of the deals in its pipeline were not assigned to a credit officer. The problem? Flawed spreadsheets. This flaw was immediately addressed, and the spreadsheets were replaced by the Qlik platform, which was rolled into a production environment in 45 days.


5 Forecast more accurately.Two of the leading causes of forecast inaccuracies and missed targets are (1) insufficient pipeline

data, and (2) the limited analytical capabilities of CRM platforms. To better predict sales forecasts,

you need visibility into the full sales process, from lead to close. By leveraging trending data

analyses that combines sales, marketing, and finance data, you get the context to confidently

plan the future.

Sales analytics allow you to:

Analyze all current and historical data to identify relevant trends and behavior patterns, building more accuracy into quota analysis, benchmarks, and forecasting

Rank factors like win probability, which products to sell next, forecasted revenue, and sales cycle time

Base account target lists on successful current accounts and the most promising leads

Built for Transformation: How Qlik Gets You Farther, Faster in the Digital Era 9

6 Minimize account risks.Attracting and winning new customers is a big expense. Keeping existing customers has always

been more efficient—and it’s easier than ever when you have greater visibility into your base,

including the churn-risk level of every account.


Visualize your pipeline according to customizable stages and risk factors

Identify at-risk accounts before it’s too late

Reduce churn by nurturing at-risk accounts with appropriate action


7 Reduce expenses.How can you measure the impact of discounts, know whether the incentives you offer are

worth the cost, and determine when to walk away from a deal? Analytics. With insights that

weigh investments against opportunities, you can take advantage of these core sales strategies

without taking unwise risks.


Allocate and prioritize investments against opportunities that represent the greatest return

Reject practices that don’t deliver

Socialize insights, speed workflows, and shorten time-to-close

Understand the true cost of goods sold

British beauty retailer LUSH consolidated access to multiple data sets; provided employees with self-serve, real-time access to easily digestible data; and saved more than £1 million over two years by using analytics to balance production with sales of its perishable products.


8 Boost performance.How is your team performing? You can find out in an instant when you

have easy access into sales, quota, and pipeline data by rep. Analytics

provide insights across sales stages, target markets, competition, and

more to help your reps better manage and realize their goals. And the

sooner they have insights, the sooner they can pivot to a more

successful strategy.


Identify development and training needs

Quickly spot unsuccessful practices and pivot

Surface best practices and socialize them

Gain visibility into “choke points” in the sales process

Andersen, North America’s largest window and door manufacturer, increased sales efficiency by 15% by identifying pipeline opportunities, tracking sales performance against goals, and transforming team roles through differentiated reporting and on-demand data access.


Optimize product mixes and pricing.You can sell more, faster, if you have the right mix of products and pricing. That’s what effective

product performance analysis gives you, enabling you to make more informed and more

proactive decisions about critical product end-of-life, seasonality, and supply/demand trends.


Identify customer preferences and purchase patterns to guide product sales strategies

Process point-of-sale data to identify high-priority “market baskets” that can drive more profitable merchandising, larger basket sizes, and higher margins

Run what-if analyses and align resources to improve pricing and cost scenarios for greater returns

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Best Buy uses Qlik for market basket analysis with the goal of improving average ticket size across SKUs and attributes, including price, vendor, and competition.


10 Tighten alignment with finance and marketing.Analytics make it much easier to align sales strategy with marketing and finance operations. You can leverage insights to

improve campaign performance (even on-the-fly) and drive sales investment decisions with key financial data.


Partner with marketing to:

Improve segmentation, targeting, loyalty programs, and campaigns

Adjust product offerings and pricing in different locations

Plan, execute, track, and measure joint initiatives

Partner with finance to:

Predict resources and growth allocations to align with budgets

Achieve agile territory analysis and adjust based on market needs

Understand the true cost of goods sold and expense analysis


Sales analytics in action.What do sales analytics success look like? They include outcomes like reinvented processes, deeper

customer intelligence, new revenue streams, and increased agility. And it delivers serious ROI, with

millions of dollars earned and saved.

Tech giant Cisco associated all data from each business unit into a single customer view, empowering sales teams to intelligently up-sell, cross-sell, and follow up on renewals. The result was $100 million in new revenue and $4 million in saved costs.

HDFC, India’s second-largest private life insurance company, used analytics to create a strategic decision-making model, accelerating growth by 17%, saving $500,000, and improving customer response times by 50% – all within two years.

At global tech giant Lenovo, roughly 400 employees now have access to advanced analytics. In their historical trend analysis app, they can quickly identify customer health over time, seeing how accounts are growing (or not) compared to quotas. Previously, it took 45 minutes to an hour to load the same data that it now takes less than a minute to load.

By analyzing sales performance, training opportunities,call center volume, and lead generation, Mitsubishi Electric increased the productivity of call center reps by 10 – 20% and reduced the cost of web leads by 10%.

After embedding sales analytics into its software solutions for sports, leisure, and hospitality customers—enabling them to analyze customer behavior in near real-time—MPower MSL saw a 378% increase in revenue in a single year.


Modern sales demand modern analytics.Trying to get an edge on your competition? Analytics give you the insights you need to work smarter,

move faster, connect more personally, innovate, and make the changes that matter.

To get the most possible value from your data, make sure you take the right approach:

Have an analytics strategy: Clearly define the KPIs that impact performance most.

Manage data complexity: Bring together all your data from all your sources into one platform.

Use analytics widely: Empower everyone, at any skill level, to make discoveries in their data.

Take advantage of new technology: Get the benefit of modern capabilities like analytics at the edge, boosts from augmented intelligence, and more.

Discover how Qlik sales analytics help your team transform and compete in the digital age—by delivering

insights that enable you to reinvent your processes, reimagine customer experiences, uncover new

revenue streams, and balance risk with reward.

Get started at qlik.com/salessolutions

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http://qlik.com/salessolutions

Qlik is on a mission to create a data-literate world, where everyone can use data to solve their

most challenging problems. Only Qlik’s end-to-end data management and analytics platform brings

together all of an organization’s data from any source, enabling people at any skill level to use their

curiosity to uncover new insights. Companies use Qlik to see more deeply into customer behavior,

reinvent business processes, discover new revenue streams, and balance risk and reward. Qlik does

business in more than 100 countries and serves over 48,000 customers around the world.

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© 2018 QlikTech International AB. All rights reserved. Qlik,® Qlik Sense,® QlikView,® QlikTech,® Qlik Cloud,® Qlik DataMarket,® Qlik Analytics Platform,® Qlik NPrinting,® Qlik Connectors,® Qlik GeoAnalytics,® Qlik Core,® Associative Difference,® Lead with Data,™ Qlik Data Catalyst,™ Qlik Associative Big Data Index™ and the QlikTech logos are trademarks of QlikTech International AB that have been registered in one or more countries. Other marks and logos mentioned herein are trademarks or registered trademarks of their respective owners.

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1 Lock, Michael, “Data Diversity and Cutting-Edge Insight for Sales and Marketing,” Aberdeen Group, August 2016.

http://qlik.com

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Datalager Analys Planering - Millnet BI...High sales performers use data. 1 97% of sales outperformers have real-time, self-service access to customer or account data. 60% of sales