Why tracking sales is important for your business

Measuring data such as lead generation, quarterly revenue, and sign-ups at the end of the sales cycle is a regular practice for business leaders. But not many know that tracking and analyzing your sales cycle data consistently from start to finish will help you assess cash flows and improve the productivity of your sales teams. 

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Key benefits of tracking sales

Predict cash flows 

Tracking sales helps forecast revenue better, thereby helping you make crucial business decisions, accelerate revenue growth, increase employee retention, and improve cash flow

Improve team performance 

Identify reps who are unable to meet targets by viewing lead generation or deal pipeline reports and discuss areas of improvement and train them to improve efficiency 

Identify bottlenecks

Pinpoint hindrances in sales funnel to ensure leads don’t slip through the cracks, increase efficiency and speed up the sales cycle

How do you track sales?

Most sales managers track sales using an excel sheet that reps update weekly or daily. This is not only a rudimentary way of tracking sales but also inefficient as the reps may not be updating it regularly or maybe filling incorrect information. There is also a lot of manual work involved in collating files from different regions and departments, and the danger of missing out on important information. 

In order to track your entire sales process, you need to monitor: 

Software that promises to track separate components of sales such as leads, calls, deals, etc., fails to provide a holistic picture of your sales operations. A comprehensive CRM software will help you track all of the above sales metrics that are crucial to monitor your business, in addition to managing your customer relationships.

How Freshsales CRM enables sales tracking

Activity timeline

The Freshsales CRM sales tracking tool simplifies event tracking by providing a chronological timeline view into every customer's engagement with your business to understand their interest before making further decisions.

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Deal pipeline

Deal pipelines give complete visibility into the various stages your deals are in. Freshsales CRM offers a visual deal pipeline so you can track the number of deals at each stage, the value of the deals, and likelihood of closing them. This will help you forecast your sales/revenue better.

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Email metrics

When your sales teams send out cold emails to customers, you need to get insights into their behavior to gauge their interest. Freshsales CRM is a free sales tracking software that offers real-time email metrics and tracks metrics such as how many emails were sent, the percentage of customers who responded to the email, bounce rates, etc. 

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Performance activity sales reports 

KPIs of sales teams need to be tracked to see if they are on their way to achieving their targets. These could include average deal size, close rates, churn rates, time spent prospecting, etc. Freshsales CRM provides customizable sales reports to analyze sales performance by analysing calls made, emails sent, and deals closed, and help promote higher results across your sales teams.

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Real-time dashboard 

With a  dashboard, you can analyze all the data from your entire sales cycle. A real-time dashboard displays data in multiple formats on a single screen. Freshsales CRM allows you to create, schedule or share a custom dashboard withall the reports that you want to track on a regular basis.

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