How Do I Turn My Sales Data Into Action?
Managers today have more information than ever; but there are obstacles that hinder the actions that can drive an increase in sales. At times there is so much data that the important information becomes diluted, or a manager may look at the wrong data because what’s inspected didn’t change when a change occurred. And frequently taking too much time away from selling to generate reports can cause frustration. The secret to getting action is having the right data at the right frequency, and then continuing to move forward by making decisions to determine the correct actions that will address the gaps. Follow these four steps to ensure your data gets action:
- Right Data—Information is only of use if it gives insight into what matters most. Knowing the activities that drive your business, what sales actions generate success, and knowing what the most important leading and lagging metrics that measure sales activity success is the first step to having the right data. Once you know the answer to these questions you can determine what you have to know in order to analyze progress.
- Right Frequency—Effective data analysis requires you to know at what frequency you need to analyze information. Analysis mandates we look at trends, trends that give insight into what is working and not working. Effective managers gather data at the frequency in which the data will show the right trends.
- Right Analysis—The right data will lead to analysis and decision making. Action happens when managers determine what the data depicts to decide what adjustments need to occur. Execute analysis and answer what is working, what is not working, and what needs to change.
- Right Action—To get action, the decision must be communicated. Be specific, clear, and concise about what actions you expect your team to take as a result of the data and analysis. Use the data to support your expectations.
The right data correctly analyzed and used to set new expectations has been successful for many organizations, and can be successful for you too. Adding more value by providing better feedback can move your sales forward. Call anytime if you’d like more insight to turn sales data into action.