5 Tell-Tale Signs Your Company Needs a Sales Tracking SoftwareTrey Gibson
Being in a leadership position can be extremely difficult, especially in the field and door-to-door sales industries. As a field sales manager you deal with a heavy stream of egos, inefficient processes, mother nature not cooperating, fluctuating numbers, and territory assignments to name a few, all while trying to develop sales reps and meet revenue targets.
It’s time to get serious and admit you’re not Superman, as difficult as that may be. It’s okay to admit you need help and can’t handle everything on your own. In fact, a sales tracking software will enable you to handle more on your own, save you time, and give you more insight into your day-to-day operations.
What Is Sales Tracking Software?
A sales tracking software is a tool used to realize and manage your entire sales cycle from the time a contact is created, to the first knock, to the time the sale is completed.
It helps to improve your efficiency, increase your productivity, and dominate your territory like never before.
Sales tracking software gives you the ability to track all activities in the sales process.
If you’re not sure whether a platform like this is right for you, look for the signs calling your name.
Field sales managers need to have a 360 degree view at all times.
If you’re struggling in any one of these categories, the time is now to make an investment that will not only pay off for the company, but your sanity as well.
#1 – Metrics Allude You
Metrics are to sales what salary caps are to football. They’re considered “must-knows.”
Some of the most important metrics you should be able to access at any time in the blink of an eye are your attempts per day, leads per day, best day and time to knock, win rate, and attempts per contact, lead, and sales.
If you’re not sure what your average leads per day is, or you’re struggling to generate the number of leads you need per day to hit your revenue targets, how do you expect to be able to coach sales reps and increase this number?
For advice on getting more leads, here’s 9 tips you can use while canvassing.
Your metrics give you the insight and analytics you need to manage and improve performance.
What are your win rates and which reps have the highest?
This is critical to know because if you’re generating enough leads, but they’re not closing, you know where you need to coach your team.
If you have two sales reps with a 40% win rate and the rest of the team is below 20%, fire the rest of the team. (Kidding). This is where you’ll find out what those two reps are doing to close deals and implement those strategies across the rest of the team.
There’s little to no value in self-reported numbers.
People lie; let’s just call a spade, a spade. Not only do self-reported responses skew your numbers, it also more than likely means you’re calculating these figures manually.
That process can take hours and include many mistakes.
It takes time away from you coaching your team and working on improving processes or, if you’re an over achiever who does these at home after hours, it’s taking time away from your family and friends.
Sales tracking software equals better accuracy, increased oversight, less administrative work, and more time.
#2 – You Don’t Remember Where You’ve Worked
You’re assigning territories but can’t remember if you’ve been there before.
You don’t know who said yes, who said no, or who told you to kick rocks and pound sand.
This is the truth about territory management, you should be working an area to a 75% market penetration rate, or contact rate.
Doesn’t mean you’re going to 75% of an entire territory to say yes, it means you’re going to get a decision from 75% of that area. It could be a yes, no, come back in six months, not interested, or scram punk.
If you don’t have a sales tracking software, you have absolutely no way of keeping track of this.
Let’s cut through the crap where we act like we have it figured out and it’s working for us, when in reality it’s not.
SPOTIO gives you the ability to put a pin on every single house a rep visits, tag the result of that visit to the house, and add any custom notes or fields.
Now when you look back through an area you’ve already worked, you know exactly how many people said yes, no, not interested, and so on.
You’ll no longer leave opportunity and revenue on the table and your reps won’t be throwing darts at the wall guessing what happened last time someone visited that location.
#3 – Leads Slip Through The Cracks
Have you ever had a rep tell you about this incredible lead they got, maybe it was a referral or a high-value target, and a month later it magically disappeared or they can’t find it?
It’s most likely attributed to using lead sheets or ineffective processes.
Sales managers and companies have to keep up with the technological advances and trends or fear getting left behind.
It sounds like a cliché, but it couldn’t be more true, especially with the younger generations of today’s society.
You’re burning money, decreasing your win rate, increasing your customer acquisition cost, and increasing your cost per lead each time you lose a lead.
Be honest, leads are valuable!
A qualified lead is worth at least $500 if you sell a higher ticket item like Home Improvement, Roofing or Solar. If you offer a monthly reoccurring service like alarms, security, internet, pest control or landscaping then a single customer can purchase again and again and again.
Why would you take the risk of something happening to that gold mine?
A sales tracking software ensures that all of your leads are in the system and won’t get lost.
You’ll have the ability to see where each lead is within the sales process at any given time.
You no longer have to worry about sales reps losing their leads sheets or someone quitting or getting fired; it’s all right there on your platform.
#4 – You’re Missing Sales Targets
Falling short of revenue goals is rarely due to a lack of effort or desire. It’s more commonly associated with inefficient processes, a lack of insight, and limited coaching time or time spent coaching in the wrong areas.
A sales tracking software helps you solve all of these issues.
Think about the amount of time sales reps spend jotting down information on paper after each house they visit, or better yet, not taking notes on homes unless they become a lead.
Adding each attempt in SPOTIO takes just a couple seconds; it’s that fast.
This will save massive amounts of time from stopping to write and allow reps to enter their information as they walk from one house to the next.
It drastically improves the process and here’s the kicker, we often see sales reps double their productivity in just two weeks when transitioning from pen and paper to a sales tracking software.
If sales reps aren’t tracking every attempt you’re missing out on the information you need to properly coach and develop them.
Without this information you don’t know where they’re struggling in the field; are prospective customers using a competitor, are they saying not interested because of the pitch, are leads not closing because you don’t have the right value proposition?
Until you have the proper insight and analytics to view the data and determine where the issue lies, you’re going to be left guessing and falling short of your expectations month after month.
Oh, and if you’re constantly exceeding your targets, then they’re set to low and need to be readjusted.
#5 –You Worry About Accountability
We’ve already covered the importance of metrics and tracking your team’s attempts, and those will tie in with holding your reps accountable.
Customers often tell us that prior to using our solution they felt their reps were fluffing their numbers to make it look like they’re doing more work than they actually are.
They think it’ll help them, and in some cases it may, but what it’s really doing is lowering their most important metrics like their win rate and the number of doors they knock per contact, lead, and sale.
The incredible advancement in technology allows you to get an exact location for every single attempt a rep makes.
When a rep knocks a door and updates the status of that attempt, their device will automatically be pinged and display their exact location. It will also display the distance of how far away that rep was from the door they just knocked on.
This is game changing stuff!
The information is displayed as verified or not verified based on the distance from the location of the attempt.
The days of reps sitting at McDonald’s while they say they knocked 150 doors are over.
Don’t get me wrong they can still do that, but you’ll now be able to not only determine if they’re lying, you’ll also know exactly how far they were from the house and which McDonald’s they were at so they can AT LEAST bring you a Big Mac!
Cost Is Not A Factor
There’s going to be those who say a sales tracking software is too expensive, whether it’s a 2 person sales team or a 300 person organization.
- If you’re manually tracking any type of numbers or metrics, this streamlines that process and saves you multiple hours per week.
- If you’re losing leads or they’re slipping through the cracks, you’re burning money; this eliminates that from happening.
- If you don’t know your conversion rates or you’re relying on self-reported numbers, how can you coach and develop your team? This will give you the insights and analytics you need to determine where each individual needs specific attention, making them better and increasing the numbers they can hit.
In all of these situations, a sales tracking software will more than pay for itself and have one of the largest ROI’s of anything you purchase for your company.
We want to help you grow and our goal is to do the same. If you found this article helpful, please share it on social media and with friends and colleagues!
SPOTIO is the #1 door-to-door sales tracking and territory management app to increase your revenue, maximize your profitability, and increase your team’s productivity in just 2 weeks.
Don’t waste time – Get started now!