5 Best Practices: Sales Monitoring Tools

Every department of a firm is equally important for the smooth running of its business. Sales, however is one field that is becoming increasingly important and hectic in today’s era of mass information. Hectic in the sense that with so much to do and keep track of, the salesperson is faced with an uphill climb. In such circumstances, the best friend a salesperson can have is a sales monitoring toolkit, if used wisely.

Below, we look at five practices that successful salespersons execute with the help of sales monitoring tools in order to stay on top of their game and ahead of the competition:

Where Is The Puck Going To Be?

“The Great One” (Wayne Gretzy) once said, “a good hockey player plays where the puck is. A great hockey player plays where the puck is going to be.” The same holds true in any business or personal endeavor. One of the skills that top salespersons possess is the anticipation of trends that are yet in the process of developing. Through the use of sales monitoring tools, they effectively identify the nascent trends and so are able to capitalize on the opportunities presented. These trends could be geographic, product-based, a single office, etc.

Know Your Competition

By knowing how your product stacks up to the competition, you will be able to identify the strengths and weaknesses of what you have to offer. Top salespeople accentuate the positives and capitalize on these advantages. Through the usage of sales monitoring tools, you will be able to effectively know your competition, discern your advantages, position yourself accordingly, and capitalize on this correct positioning.

Know Your Product

While knowing your competition is important, it is imperative that you know your product better than anyone else. Successful salespeople are students of their market and competition, but they know how their product fits with the market. When you are equipped with the knowledge of your product and your competition, you will be able to use your sales monitoring tools to know which prospects you can approach with the idea of complementing their current product with yours.

Stay Current, Stay Accurate

Nothing kills a potential deal faster than not being current and accurate with trends and sales. Top salespeople insist that there is no easy way around this. It’s just plain hard work and perseverance with staying on top of data. It’s just like diet fads and pills, there is no easy solution. Sure, hiring staff to assist you with the process helps, but in the end you are the expert your client is turning to as the resource. If you have to turn to your staff to get information in a crunch-time situation it will diminish your image in the eyes of your clients. Top salespeople have a habit of staying focused on their target market and honing in on a specific subset of that market. They preach that trying to be all things to all people will end up backfiring. Using your sales monitoring tools to stay current and accurate with what is selling and why, will improve your closing ratio faster than any other practice.

Centers Of Influence

Finally, establishing a core group of influencers that act as your apostles and scouts is another key trait of top salespeople when utilizing sales monitoring tools. This influential group of people will help you keep your ear to the ground in your target market even if they aren’t your top clients in terms of sales. The best type of information is the type that no one else knows; tracking this accurately and in a timely manner with your sales monitoring tools will help you stay ahead of your competition.

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Sir Francis Bacon (the founder of the Scientific Method) once said, “Knowledge is power.” The more information you can gather and have at your fingertips, the better off you will be when it comes down to doing your thing! Superior sales monitoring tools and consistently using them to your advantage will help you become the most powerful salesperson in your market. If you’re interested in discussing other strategies for optimizing your sales monitoring tools, please contact us.