B2B Sales Analytics Guide: Track the Minute Details

January 2, 2024

Have you ever struggled with adding sales-qualified leads to your pipeline? If the answer is yes, have you tried finding the big WHY behind that struggling process?

When you don’t monitor your sales process, it becomes difficult to identify the friction in the sales process. That’s why you need to enter into the rabbit hole of B2B sales data and analyze every minute of sales information in your database to better understand your processes and forecast revenue. But how?

In this article, we’ll uncover everything you should know about B2B sales analytics and how to perform the sales analysis to extract accurate information.

Let’s roll in.

What is B2B sales analytics?

B2B sales analytics is the practice of understanding sales data, spotting trends, tracking metrics and KPIs to measure future sales performance., and forecasting sales and revenue more accurately.

For instance, you can monitor how many deals and revenue a sales rep closes and how much time did they takes to close a single deal. 

Benefits of sales analytics

Carrying out sales analytics needs advanced skills, but it enhances decision-making and also drives efficiency and profitability. B2B sales analytics empowers companies to tailor their strategies, optimize sales processes, and predict future trends, thereby staying ahead in a competitive market.

Let's understand some more benefits of B2B sales analytics in detail:

  • Identify new sales opportunities. Sales reps can identify how they can upsell and cross-sell to their existing customers and create new sales opportunities.
  • Improve customer acquisition. Understand the behavioral patterns of a specific prospect and create personalized customer journeys.
  • Monitor sales performance. Identify how your sales team performs — how many deals each rep closed, how much time they spend on each call, etc. to evaluate their sales performance.
  • Forecast the revenue. Based on the historical data the sales tracking platform evaluates, it can forecast the revenue you need to make in a specific timeframe to hit your goals.

How to Perform Sales Analysis?

According to IBM State of Salesforce Report 2023-24, it's important to integrate data to prevent siloes. The report highlights that by integrating the data, the company was able to:

  • Identify 28% more unmet customer needs
  • Reveal 39% more new sales opportunities
  • Discover 37% more business models

All of this is possible when you integrate B2B sales data in one place, and perform sales analysis. But how?

Here’s a 5-step sales analysis process you can follow:

Step 1: Choose the Right Sales Analysis Method

Here are 6 sales analysis reports you should know about:

  1. Sales trend analysis: With this report, you can track your sales team’s progress in hitting the sales goals, and understand the sales patterns. 
  2. Sales performance: With this report, you can analyze your sales team’s performance and evaluate the overall effectiveness of the sales strategy .
  3. Predictive sales analysis: With this report, you can predict the future risks and sales opportunities.
  4. Sales pipeline: With this report, you can understand the common sales activities prospects go through and shorten your sales cycle. 
  5. Product sales analysis: With this report, you can understand the sales and customers’ buying habits and get insights into customer satisfaction, demographics, and buying price.
  6. Prescriptive analysis: With this report, you can understand which sales opportunities the sales reps should pursue to increase the win-rates

Step 2: Identify the information You Need

Once you have chosen the sales analysis method, it's time to identify and pick the specific information you want to evaluate. 

For example, if you have chosen the sales performance analysis report, you may look at how much time your sales reps have taken to close a deal. Or, how much time the sales rep is spending on each sales call. 

Once you determine which piece of information you'll be evaluating, you can easily identify the metrics and KPIs associated with that information. 

For instance, if you want to monitor how many deals your sales reps are closing, you’ll track the metrics like the number of sales calls per day per sales rep and call duration, and the number of deals closed per rep. 

Step 3: Choose a Sales Analysis Tool and Analyze the Data

So you have chosen the right sales analysis report method and identified the specific information you need to monitor. Now, it's time to pick the right tool to analyze your sales data.

Here are the three most explored options to choose from:

  1. Spreadsheets: Use a spreadsheet tool like Microsoft Excel to track your B2B sales data. Ensure you have gathered all the information before tracking the data. Spreadsheets are great if you want to track basic information like the number of leads in the pipeline, number of deals per rep, call duration, etc. If you want to analyze advanced data, spreadsheets might not be the right choice for you.
  1. CRM: If you want to automate the process, you can pick a sales CRM to store contact information, automate email sequences, and view your sales pipeline from a single dashboard. If you use Sellular, for example, you can generate advanced reports to optimize your sales team’s performance. 
  1. Sales analytics app: If you want to use an advanced tool to analyze your sales data — go for a full-fledged sales analysis tool like Gong to analyze customer interaction and forecast future sales.

Make a list of the pros and cons of which sales analysis tool would be the right choice for you. Ideally, you can choose a spreadsheet to analyze sales data if you’re a small business with limited resources or an early-stage startup.

If you want more control over your sales data and if you want to automate your sales analysis process, go for a sales CRM. 

Note that the reporting and analytics that the sales CRM provides are limited. If you want to dive deeper into your sales analysis process, you’ll need to choose a sales analysis tool that gives you a bird’s view on your entire sales process. 

Step 4: Choose the KPIs and Metrics

What do the sales metrics look like? Which one should you pick based on your sales analysis report? While the metrics you monitor depend on the sales analysis report you track, here are a few sales metrics and KPIs you can monitor:

  • Sales opportunities: By tracking this metric, you’ll have better control over your sales pipeline and you’ll be able to
  • Sales per rep: By tracking this metric, you’ll know the performance of your sales rep and the sales target the specific sales rep has been able to accomplish.
  • Pipeline velocity: By tracking this metric, you'll be able to measure how quickly leads get converted to paying customers and understand the efficiency of your sales process. 
  • Demo calls booked: By tracking this metric, you'll know how many sales-qualified leads you currently have in your sales pipeline and helps you understand the health of your sales funnel.
  • Monthly recurring revenue (MRR): By tracking this metric, you’ll know how much revenue the company has generated in a month compared to previous months. This metric is effective in understanding the revenue success for your company and help minimize the churn.

Step 5: Share Results with Stakeholders

Once you have analyzed the data, share the sales analysis report with the stakeholders. To make the sales data understandable to the stakeholders, make use of graphs, charts, and infographics. 

What To Look For in a Sales Analytics Tool?

Businesses use sales analytics tools to strategize and forecast sales opportunities accurately. Choosing the right sales analytics tool will help you save a lot of time and perform sales analysis without the need to learn any advanced coding skills. 

What exactly should you look for in a B2B sales analytics tool? Here are 3 key elements you should look at:

Interactive visualization

Because a sales analytics tool pulls data and numbers comprehensively, the insights you get would be cluttered and take time for the user to understand. The platform should have interactive elements like infographics, charts, and reports to simplify the information in an easy-to-understand format. 

For example, Sellular provides an interactive dashboard with a graph that gives detailed sales team performance reports.  

Integration capabilities

Look for sales analytics tools that integrate with your existing tech stack such as:

  • CRMs,
  • Email marketing platforms
  • Calendars
  • Messaging platforms

For instance, Sellular integrates with Salesforce — which simplifies the process of collecting details in the database if you use Salesforce as the CRM. Plus, it integrates with Zoom and Google Meet, especially when you use either of these platforms to do video meetings with prospects.

Ease of Use

Is the sales analytics platform intuitive? Is the navigation easy? Does it integrate with your tech stack in a few minutes? How easy is it to set up the account? Does the platform sync automatically?

The sales analytics platform should make your work easier without adding more friction to your sales process. 

Skyrocket your sales analysis efforts with Sellular

Sales teams use an average of 10 tools to close deals. Out of these 5 tools include sales reporting/ analytics, CRM, account and contact management, mobile sales app for employees and sales forecasting tools. That’s too overwhelming for sales reps, isn’t it?

Alternative: opt for a single sales platform that acts as a CRM and offers sales reporting functionality. 

Enter: Sellular

Sellular integrates with Salesforce, analyzes the sales activities within the platform using a single dashboard and monitors the performance of your sales team. Want to learn more about how Sellular can empower B2B sales analytics for you? Book a demo with Sellular.

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