How Sales Force Effectiveness is Reinventing the Pharma Landscape in the US -min
With the advent of new technology and lean manufacturing processes, the manufacturing industry is experiencing a resurrection of sorts. Rapidly changing market demands, aggravating competition, the need for skilled labor and immense pressure to reduce costs are some of the major challenges facing manufacturing companies. Today sales teams across industries face stiff competition over quality and price all over the world. The average consumer’s demand for better-engineered and well-designed products are high, in spite of being on a slightly expensive side. Therefore, manufacturing companies must deploy efficient sales processes to deal with these challenges upfront while managing sales processes and data.
Quantzig’s salesforce analytics experts can help you improve sales force effectiveness by designing performance metrics and reward systems to improve customer experience. Get in touch with them right away.
The client, a leading manufacturing company, wanted to deliver high quality, innovate and reliable products. They were looking to leverage an analytical approach to reduce their operational costs and improve productivity. This is when they approached Quantzig to leverage its expertise in salesforce analytics solutions to enhance their data management approach to facilitate quick access to all the sales data.
Major Challenges Faced by The Manufacturing Company
Problem Statement 1:
The client failed to keep track of consumer behavior and usage patterns due to the lack of visibility into their sales processes.
Problem Statement 2:
The client was finding it difficult to channelize their sales data and understand their sales performance due to which they were facing a significant decline in their productivity.
Problem Statement 3:
The client was looking to leverage an advanced salesforce analytics solution that could help them optimize their data management system and extract valuable insights.
Leveraging our salesforce analytics solutions can help you optimize your sales process to maximum customer value and sales performance. Request FREE proposal to gain in-depth insights into our portfolio of salesforce analytics solutions.
Solution Offered and Value Delivered
The salesforce analytics experts at Quantzig adopted a three-phased holistic approach to help the manufacturing client tackle their core business challenges.
The initial phase of this salesforce analytics engagement revolved around leveraging data mining techniques to extract maximum insights from consumer data. This helped the client to gain a comprehensive view of their customers’ buying behavior and response at every touchpoint.
The second phase of the salesforce analytics engagement focused on the detailed analysis of the client’s sales data. This helped the client to identify different sales patterns and determine factors affecting sales such as current market trends and customer interests.
The third and final phase of the salesforce analytics engagement revolved around developing a customized analytics dashboard to help the client understand and analyze their sales data efficiently in real-time.
The roadmap offered by the salesforce analytics experts helped the client to improve productivity, per capita sales volume and boost sales by 53%. Also, with the help of customized salesforce analytics dashboard, the client was able to chart progress rates of their salesforce, comprehend sales metrics, and develop visually rich reports to fuel their salesforce analytics strategy.
Quantzig’s salesforce analytics solutions help companies in the manufacturing industry to assess and redesign their sales strategy to boost sales. Request a FREE demo to know more.
Benefits of Salesforce Analytics
Why Businesses Choose Quantzig’s Salesforce Analytics Solutions?
Quantzig’s salesforce analytics solutions help businesses to translate data into actionable insights. Also, our analytics experts take into account several practicalities along with timing and budgetary constraints of players across different sectors. Additionally, Quantzig’s salesforce analytics solutions include the use of data integration methods, transformational tools, and best-in-class data modeling and data mining techniques to identify key sales metrics that would help improve the organization’s overall sales performance.
To learn more about how our analytics solutions can help your manufacturing business, request more information below.
What is Sales Force Effectiveness?
Sales force effectiveness primarily deals with different systems, processes, decisions, and programs for which sales leaders are held accountable. Sales force effectiveness is driven by different technologies that focus on helping organizations to improve their sales results. Sales force management enables companies to build effective sales teams and meet customer demands effectively. This can result in increased profit and revenue for the company. With the change in the market environment and aggravating competition, there has been a significant increase in the demands of customers and consequently the pressure on prices has increased. This has slowed down the income growth and reduced the profit margins. This is where sales force effectiveness comes into force that helps companies to deal with longer sales cycle, fulfill customer demands and make sales competent.
Are you facing difficulty in improving customer service processes due to inefficient sales force? Get in touch with us to know how our sales analytics solutions can help you improve your sales force effectiveness.
How to Improve Sales Force Effectiveness?
Tip #1: Try to avoid having too many sales teams
To improve sales force effectiveness, many managers depend mostly on deadlines and metrics. But this should not mean that you increase the number of the sales team in order to meet the target rather find different ways to reward and motivate your existing sales team. This can help in bringing out the best in them and can ultimately contribute to the revenue of the company.
Tip #2: Understand the key performing indicators well
For the sales force effectiveness to improve, it is crucial to deploy a good channel of communication between the sales team. Also, to enhance sales operations and sales strategy, it is important that you know what exactly is expected and when it has to be delivered. Furthermore, this can help in defining the timeline of delivery and can boost customer experience.
Tip #3: Leverage salesforce analytics
Salesforce analytics is an important pillar for effective salesforce management. It helps organizations to understand the potential customer segments and serve them according to their needs. Additionally, Salesforce analytics helps organizations to identify new opportunities for growth and revenue generation.
Tip #4: Opportunity management
Managing a sales opportunity is an essential component to improve sales force effectiveness. Therefore, for a sales manager, it is very important to understand that the process of sales is well-analyzed by the whole sales team. The alignment of the process with the way customer make a purchase is very crucial for enhancing the sales force effectiveness.
Tip #5: Work on sales skills
Do your sales team possess the required prospecting skills? If yes, then this is an indication of effective salesforce. To improve sales force effectiveness, the sales manager needs to monitor the call planning of the sales team and their proficiency at identifying priorities. The sales team needs to effectively overcome objections and serve the customer’s priorities effectively.
#3: Customer attrition rate
Tracking customer attrition rates is an equally important metric to measure sales force effectiveness. It is especially very helpful in the new and dynamic markets where companies try or launch some new product or service. Also, this can be beneficial in identifying trends that can result in loss of business and catastrophic revenue loss.
How can our sales analytics solutions help in improving sales force effectiveness?
Today several social media platforms have emerged due to which numerous challenges have cropped up for companies such as- managing marketing, sales, and customer relationships. Our sales analytics solutions that comprise data integration, data modeling, and analysis techniques help companies to identify new opportunities for growth and revenue generation. Also, our sales analytics solutions improve sales force effectiveness by sales force automation and making the process more efficient and data-driven to drive accurate results and reduce operational costs. At Quantzig, our team of analysts and consultants complement clients with best-in-class services to drive market excellence. We help companies in examining the sales force effectiveness and productivity at the granular level and develop effective sales strategies.
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LONDON: Quantzig, a leading analytics services provider, has announced the release of their latest storyboard on the benefits of salesforce analytics and how it can help businesses identify new opportunities for revenue generation and cost reduction.
Salesforce analytics solutions with data integration and transformation tools, data modeling and data analysis techniques can help companies reduce operational costs and enhance customer service processes thereby improving sales efficiencies and revenue margins.
Quantzig’s salesforce analytics solutions have helped more than 55 Fortune 500 companies to make data-driven decisions and improve their sales strategies. Below, we have summarized some of Quantzig’s recent success stories for this week and have also highlighted ways in which salesforce analytics solutions have helped companies to effectively streamline sales data and understand their sales performance and improve ROI.
#1: Salesforce analytics solutions enhanced sales and customer-centricity significantly: Reducing operational costs and improving customer service processes are two challenging tasks for any business. Are you facing the same issue? Salesforce analytics can be the answer to your problem as it answered a similar problem faced by one of Quantzig’s clients. The client approached Quantzig to leverage its expertise in offering analytics solutions and improved their data management approach to facilitate quick access to all the sales data they needed.
#2: Salesforce analytics solutions improved profit margins by 5x: Most businesses find it challenging to enhance their sales and channel management strategies. Do you fall into the same category? No need to worry if you have proper salesforce analytics solutions in place. Salesforce analytics can help companies to develop salesforce reports which can act as a perfect guide to boost sales, improve per capita sales volume, and reduce costs with a long-term goal of triplicating the distributor’s profitability.
#3: Salesforce analytics solutions boosted ROI from 1% to 3.5%: This success story is a classic example of how Quantzig’s sales force analytics solutions helped a client to visualize their ROI robustly through a map view at various levels. Also, Salesforce analytics offered them actionable insights into their current and past ROI to estimate their future profit. This further helped them to track their revenue closely across different levels and realized an increase in ROI from 1% to 3.5%.
#4: How to sharpen your sales force effectiveness through salesforce analytics solutions? Are you wondering what are the factors that make sales force effectiveness successful? Salesforce analytics can help you do so by targeting specific strategy areas to augment – conducting honest program evaluations, developing specific improvement programs, and tracking progress regularly through real-time Salesforce dashboard.
#5: Salesforce analytics solutions revamped sales performance and sales force management: Improving communication with customers, understanding their needs and delivering the same on time are crucial factors for the success of any business. Salesforce analytics has the potential to reshape your business module into a more customer-centric business strategy. Furthermore, this can help in uncovering new and better opportunities in the competitive market thereby improving the sales performance and profit margin.
#6: Salesforce analytics solutions redesigned the sales forecast model thereby improving the decision-making process: Optimizing business expansion and purchase plans are premium goals of all businesses. Salesforce analytics is the secret sauce here. It can help companies build sales forecast model to manage a variety of business functions including demand and supply discrepancies. Additionally, this model has the potential to predict actual sales with maximum accuracy.
#7: Salesforce analytics solutions maximized revenue potential and restored brand loyalty: Do you really think building predictive models to assess customer attrition levels is a hard nut to crack? If yes, then you must go through our latest success story that reveals how Quantzig’s salesforce analytics solutions improved a client’s business functions by building predictive models and shortened the time-to-market for the services rendered. Furthermore, a salesforce dashboard is very helpful in effectively profiling profitable customers and their requirements. This, in turn, can improve brand loyalty and revenue potential of the business.
#8: Salesforce analytics solutions curtailed additional costs and facilitated better sales forecast management: Is additional cost hindering your business growth? If yes, then you must be going wrong somewhere in understanding your sales force’s performance and assessing the additional time taken by them as it is important for any business to attain success. This is evident in Quantzig’s latest success story, where leveraging salesforce analytics solutions helped the client to improve the performance of the current sales team and identify the potential opportunities and allocate resources wisely.
#9: How can salesforce analytics help you improve sales and get the most of your salesforce? While many organizations today are using analytics to understand their customers better, they are often ignoring other areas that could benefit from a similar investigation. It is crucial to assess what tactics the salesforce is using, and examine factors such as deals, messaging, and other forms of customer interaction. Analytics helps in taking a detailed look at this data and makes it possible to predict what strategic approaches will be successful and under what circumstances.
#10: Leveraging Salesforce dashboard to gain a panoramic view of customer demands across various segments: Quantzig’s salesforce analytics solutions proved very beneficial for one of the healthcare services provider in identifying the performance indicators and key metrics of organizational growth. The effective salesforce dashboard created by the analytics experts at Quantzig enhanced the visibility of real-time data; thereby, improving speed and agility that is needed to refine business functions and boost results.
Did this success story motivate you to leverage salesforce analytics solutions? If yes, what are you waiting for schedule a FREE demo right away!
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The gaps in understanding what makes salesforce effectiveness successful, researchers are now increasingly trying to quantify the factors that go into turning a motivated sales team into a task force that is capable of making an effective impact in their market. As a matter of fact, it might prove to be difficult for any new business to hit the ground running. Sales success is largely dependent on continual improvement. Conducting honest program evaluations, targeting specific strategy areas to augment, developing specific improvement programs, and tracking progress in following through with these programs will create a cycle that will consequently lead to a constantly improving sales team capable of finding success in today’s dynamic market. Here are some vital strategies to turbocharge your companies’ salesforce effectiveness.
Ways to improve salesforce effectiveness
Clearly define the expected performance
When companies clearly define performance to their sales teams, it helps them understand which products and customer segments create the most value. Having a clear idea about which products and customers create the most value helps businesses identify “where” to direct the efforts of the sales team and how to measure their performance, thereby enhancing the salesforce effectiveness.
What the Client Wanted
Quantzig’s robust telco analytics solution helped the client improve their communication with the customers, understand their needs, and their opinion on the performance of the telco company. This guided the client in reshaping their business module into a more customer-centric business strategy. The telco analytics solution, which included an analysis of the salesforce, also uncovered new areas of investment in the competitive market of telco systems, which consequently maximized their EBITDA margin.
Global Telecom Industry Overview
The telecom industry features internet service providers, cable and satellite companies, and wireless operators who facilitate easy and fast mode of communication via the phone or the internet. With developments being made in every stratum of the society, the telco systems market has witnessed exponential growth in all terms. However, the market growth of this sector is highly influenced by the dynamic technological trends. Hence, to stay afloat in this dynamic market, the telco company should adapt to the changing trends and deliver their core services in accordance with consumers’ demand.
Telco Company Challenges
Emergence of new data vendors: The trend of digitalization has been cashed in by scores of enterprises who are offering a wider variety of data services; thereby, thinning the line between a telco company and technology providers. In order to stay afloat in the competitive telco systems market, companies are allocating more resources to develop newer telecom products, which is subsequently resulting in depleting profit margins.
Integration of the IoT: IoT is predicted to be the next big thing in the communications platform, which will connect about 21 billion devices by 2020. This, in turn, will pose an immense challenge for a telco company to render its platform functional to accommodate IoT.
About the Client
A well-known telecom company offering telephone and data communication services across the globe.
The telco company was challenged with unmet sales target with their newer product portfolio across certain regions. Even after executing a major brand campaign, some of the products failed to appeal to the digitized customers. In addition to this, the telco company required better visibility of the telco systems market ecosystem to expand their product portfolio in a profitable manner.
Summary of our salesforce analytics engagement
To know more about how our salesforce analytics solution helped the telco company
Quantzig’s telco analytics solution offered detailed insights into real-time performance metrics which helped the telco company in remodeling their inventory into a more scalable product portfolio. It guided the company in adopting cost-effective strategies to create and market products which ensured maximum sales with minimized inventory and production costs. Reduction in production expenditure gave the telco company liberty to invest in new and lucrative areas, where according to Quantzig’s salesforce analytics experts, the products were in high demand.
Salesforce Analytics Solution Insights
Companies offering telco systems can leverage Quantzig’s salesforce analytics to identify performance indicators and important metrics for organizational growth. Our solutions highlight growth opportunities that help the telco company to improve the sales performance of their products. Telco analytics also helps to bridge the gap between customer’s expectations and a telco company’s vision while marketing the product. It also offers step-by-step analysis of the company’s sales data and helps to devise accurate sales forecast business models that help in revenue generation and brand scalability in the hyper-dynamic market for telco systems.
To know more about how our salesforce analytics solution helped the telco company
What the Client Wanted
Develop and implement a salesforce dashboard to closely monitor salesforce effectiveness in the health care services segment.
This salesforce analytics engagement entailed the implementation of a new salesforce dashboard that helped the health care services provider to improve business processes and drive revenue growth. The salesforce dashboard also enhanced the visibility of real-time data; thereby, increasing speed and agility that is required to refine business functions and improve results.
Overview of the Healthcare Services Industry
With outcomes, quality of service, and value becoming the watchwords for leading healthcare services providers, stakeholders in this sector are increasingly focusing on implementing profitable and state-of-the-art techniques to deliver patient-centric services. Additionally, the health care services sector has been facing several challenges owing to declining margins and revenue pressures. Such factors are anticipated to persist in the coming years due to infrastructure upgrades, the rise in demand, and technological and therapeutic developments.
However, a successful transition to value-based health care services requires the market players to look beyond transaction-based treatments and focus on the providing holistic services. Implementing innovative healthcare models based on analytics and data help health care services players to leverage the efficiency of services- Quantzig’s salesforce analytics is one such solution that aims to change the way health care firms deliver care.
Healthcare Services Industry Challenges
- Implementing data analytics: Implementing big data helps gain meaningful insights into real world data to enhance patient outcomes. However, health care services providers face several challenges in establishing a secure database for collecting and analyzing healthcare data.
- Overall consumer health: Health care services firms are now focusing on the consumer’s overall health by emphasizing on value-based care. This requires them to gain a detailed understanding of the unique heal care services and needs of various population segments.
About the Client
A prominent healthcare services provider.
To identify the performance indicators and key metrics of organizational growth, the client – a leading healthcare services provider – approached Quantzig. The client wanted to leverage Quantzig’s vast experience in salesforce analytics to their benefit and gain actionable insights to enhance the efficiency of their services by developing a robust salesforce dashboard.
Benefits of our salesforce analytics engagement
To gain in-depth insights into our salesforce analytics solution
With the help of Quantzig’s salesforce analytics solution, the client was able to implement a salesforce dashboard to aggregate patient data from several sources across the organization. This assisted them to curate health care data and identify key performance metrics.
By devising an effective salesforce dashboard, the client was able to gain a panoramic view of customer demands across various segments. The salesforce dashboard also helped the client to revolutionize patient care by turning valuable data into meaningful insights and enhancing the development process to introduce new products to the market at a faster pace.
Salesforce Analytics Solution Insights
Analytics-based platforms are gaining extensive applicability in a number of industry domains and are poised to witness wide-spread adoption in the coming years. Also, with the innumerable challenges that have unfolded in today’s rapidly changing health care services market, salesforce dashboards act as a key performance indicator that reports past performance while offering detailed real-time insights to help improve the efficiency of services.
To know more about the benefits of devising an effective salesforce dashboard
What the Client Wanted
The broadband services provider wanted to implement and leverage accurate sales forecast based solutions to optimize expansion and purchase plans.
With the help of Quantzig’s salesforce analytics, the broadband services provider devised an accurate sales forecast model that help them predict actual sales with an accuracy of about 94%. The sales forecast model also helped the client to manage a variety of business functions including demand and supply discrepancies.
Summary of the Broadband Services Industry
The rise in internet usage across the globe has significantly profited the companies offering broadband services. The ongoing regulatory overhaul is expected to further drive government-subsidized network expansions; thereby, increasing the number of broadband subscribers. Also, the rising demand for broadband services from the growing business segments along with the thrust towards expansion of broadband services in the rural markets is expected to drive industry revenue in the coming years.
However, the widespread internet accessibility continues to pose a major challenge for players in the broadband services sector. Many such factors have prompted broadband services providers to invest heavily in deploying new infrastructure to boost speed and offer enhanced services. To sustain themselves amidst the growing global competition, companies offering broadband services will have to adopt better infrastructure or implement innovative infrastructural changes such as the ones that require lesser investments to support higher bandwidths. Moreover, the adoption of IPv6 also offers innumerable opportunities to improve services by eliminating the need for a network address translation service (NATS) and resolving the threat of insufficient internet IP addresses.
- The GRC challenge: Governance, Risk or Compliance (GRC) challenges arising as a result of changing regulations make it a necessity for broadband services providers to enhance operational transparency. However, developing and maintaining a successful GRC management strategy requires a holistic and proactive approach.
- The hybrid infrastructure: The hybrid infrastructure includes both cloud and premise-based elements- managing, which is a major challenge for broadband services providers.
About the Client
A major European broadband services provider.
To devise accurate sales forecast models, the client – a leading broadband services provider – approached Quantzig to leverage salesforce analytics solutions. The client was facing difficulties in forecasting sales to match demand. As a result of which the management wanted to review sales to understand the correlations and develop accurate sales forecast models. Furthermore, they wanted to leverage salesforce analytics to develop a sales dashboard that offers real-time insights on sales performance.
Summary of our salesforce analytics engagement
Want to learn more about our analytics solutions?
With the help of Quantzig’s salesforce analytics solution, the client was able to develop integrated dashboards that helped drive decision-making. The salesforce analytics solution also helped the client to devise an accurate sales forecast model that predicted sales with an accuracy of around 94%. Additionally, our team helped the client in understanding their sales ecosystem, which included- company structure, systems, business processes, and key competitors.
Salesforce Analytics Solution Insights
Quantzig’s salesforce analytics solution helps broadband services providers to review sales data and extract meaningful insights to create accurate sales forecast models. It also offers detailed insights into future revenues thereby, enabling organizations to identify the best way to maximize benefits from future changes in the economy.