Gartner Research reports that Business Intelligence (BI) and Analytics tools, such as prescriptive analytics solutions, have been the number one priority for CIOs for the past 3 years and running. The appeal to prescriptive analytics lies in its ability to automate feedback based on the data you’ve accumulated as a sales team. It standardizes the behaviors of your sales rep by taking out the ‘gut-feeling’ decisions. As a decision maker when it comes to buying tools, the three best benefits of prescriptive analytics sales tools are:
David Baga, CBO of Lyft, said, “every successful sales organization should have a regular cadence of training.” The benefits of formal sales coaching will be discussed later on, but the importance of what happens in between coaching sessions is almost as important as what happens during those sessions. Prescriptive analytics solutions help sales reps prevent and resolve some of the sales issues that they have in between formal coaching sessions with their managers. A report by AGC Partners stated that sales reps typically only spend 33% of their time actively selling. With prescriptive analytics, sales reps have a tool that can streamline other selling behaviors so that they can spend more time actually selling.
Prescriptive analytics sales tools help managers identify focus points to discuss during their one-on-one meetings with their sales reps. CSO Insights found that those companies that utilize formal coaching increase their win rate by 9% or more. Using prescriptive analytics with your sales team allows you to spend less time prepping the key coaching points for the coaching session, and enables you to turn the coaching session into a closing strategy session.
Result Oriented Coaching
Result-oriented coaching helps to tailor coaching sessions on selling behaviors and away from the sales reps personality, itself. Prescriptive analytics gives you more confidence that the goals you set for your sales team are attainable and keeps you in the driver’s seat to hit those goals. With the ability to spend your time coaching on specific roadblocks, you can be confident that all of your solutions will be data-driven. Aberdeen Group reported that “37% of sales leaders without analytics tools in their sales team trust in their underlying data.” With your sales team utilizing prescriptive analytics, you can trust in your data will be trust worthy and that ou will come up with solutions to your sales problems much faster with their prescriptive tool’s provided feedback.