Maximize Your Sales Potential with the Right Sales Tracking Software

Imagine running your lemonade stand. In order to understand how your stand is doing, you track and keep a record of everything that leads to a sale, including the number of cups you sell each day, how many people show interest, and how much money you make.

This is what sales tracking is all about. In other words, it is a process used by businesses that utilize sales tracking software to provide valuable insights to help them close more deals and grow their revenue.

What is a Sales Tracking Software?

Sales tracking software is a crucial tool that streamlines a company's sales activities. It tracks sales information such as leads, deals, customer interactions, etc., and stores them in one place. The sales tracking software analyzes sales data in real time, providing insights.

The sales tracking software helps track leads progressing through the sales funnel and prioritize deals nearing closure. It can also automate repetitive tasks like sending emails or scheduling follow-ups and identify any bottlenecks that slow down sales. It is a toolbox to enhance your sales strategy, improve close rates, and make data-driven decisions.

Why Do You Need Sales Tracking Software in India?

• Improved Sales Performance: Sales tracking software can supercharge the sales team’s performance by automating repetitive tasks. It empowers businesses to set clear goals and track individual or team performance against those targets. Constant monitoring with the help of sales tracking software creates a results-oriented environment and provides real-time insights into the sales pipeline.

• Enhance Data Accuracy and Management: Sales tracking software eliminates siloed information to provide centralized data on a unified platform. It automates the data entry and validation process to avoid errors related to manual data entry, ensuring data accuracy. It enhances management by storing all the sales activities that can be utilized to analyze trends and make data-driven decisions.

• Better Decision Making: This software offers robust analytics and reporting features that provide information about customer behavior, market trends, and sales pipeline. It offers clear visibility into KPIs, which helps make informed decisions about future sales targets. Moreover, by leveraging historical sales data and algorithms, sales tracking software can generate sales forecasts, equipping businesses with a roadmap for maximized sales.

• Enhanced Customer Relationship Management: Sales tracking software captures valuable customer data, from initial contact to purchase and beyond, providing a 360-degree view of your customer base. These insights help personalize strategies and boost meaningful customer interactions and conversion rates. It also streamlines the process of capturing and nurturing leads.

• Increased Accountability: The software allows managers to assign specific tasks to individual team members, set deadlines, and track progress. This ensures everyone is accountable for their work and consistently meets deadlines. Additionally, sales tracking software empowers managers to identify areas where individual reps might need additional support. This ongoing feedback loop helps improve overall team performance and drive results.

Understanding How SquadStack Leverages AI to Transform Sales

SquadStack is a tech-powered contact center that utilizes Artificial Intelligence (AI) to streamline and personalize the sales process. To understand how we integrate AI across all touchpoints of the customer journey, we have divided SquadStack’s AI lifecycle into three distinct stages, as mentioned below:

1. Pre-Outreach: In this stage, we focus on lead prioritization. Our system categorizes leads based on various data and utilizes a combination of LIFO and FIFO algorithms to maintain TAT.
2. Agent Training & Coaching: SquadStack's AI model analyzes call recordings to create targeted coaching opportunities. We constantly monitor recordings to identify missing details and ensure reduced agent ramp-up time compared to traditional contact centers.
3. Post-Outreach: Finally, in the post-outreach stage, we leverage human expertise along with Artificial Intelligence (AI) for call quality analysis. To ensure agents consistently deliver high-quality calls, we analyze 12% of all call recordings using AI.

Features to Look for in the Best Sales Tracking Software for Small Business

Managing your sales pipeline, tracking leads, and analyzing performance as a small business owner can be challenging. Sales tracking software for small businesses can be a game-changer in this regard. But with a variety of options, it is important to choose the one that best suits your specific needs. Here's a breakdown of the key features to consider when selecting the best sales tracking software for your small business.

Lead Management:

The lead management feature of sales tracking software centralizes everything. It captures leads from different channels, automatically scores them based on their potential value, and helps prioritize efforts. You can then assign qualified leads to the most suitable sales reps, automate follow-up tasks, and track their progress. This streamlined approach ensures timely engagement with high-quality leads, boosting conversion rates and revenue.

SquadStack ensures efficient and compliant lead outreach by prioritizing quality interactions. Once the leads enter our system, it first checks for duplicates and compliance with calling regulations. Then, our versatile prioritization system considers factors like demographics and interests to identify the most promising leads. Our lead matching engine assigns tasks to agents with the most relevant skills for the campaign, maximizing the chances of a successful connection.

Pipeline Management:

Imagine your sales funnel as a series of stages, like initial contact or proposal sent. Pipeline management within the sales tracking software allows you to visualize each lead's position within these stages. Businesses can easily see which leads are progressing smoothly and identify bottlenecks, if any.

The software also helps forecast future sales by analyzing historical data and the current pipeline health. By keeping the pipeline organized and transparent, this feature optimizes the sales process and maximizes the team's effectiveness.

Sales Assistance:

The sales assistance feature of sales tracking software empowers the sales reps with the knowledge and resources needed for productive customer interactions. It guides them through complex negotiations and helps them overcome customer objections.

Sales assistance features can include real-time access to product information and customizable sales templates. Additionally, some software utilizes AI to analyze customer interactions and recommend the most effective next steps.

SquadStack empowers telecallers with a web app with built-in sales enablement, from guided scripts and battle cards to FAQs and customer communication tools. We equip our telecallers with cutting-edge tools for a seamless calling experience.

Sales Performance Management:

The sales performance management provides detailed metrics on individual and team performance. It allows businesses to track strengths and weaknesses, such as activity levels, deal closure rates, and progress against sales quotas. This data helps identify top performers, pinpoint areas where reps might need coaching, and set clear, data-driven goals.

The software can also automate commission calculations and incentive programs, keeping your team motivated and focused on achieving results.

SquadStack goes beyond basic call monitoring with a powerful, customizable system. We utilize AI to analyze 12% of the calls against 23 customizable quality parameters. We provide you with actionable insights on quality scores, total audited calls, and performance-based categorization of callers. This allows you to identify areas of improvement to boost agent productivity and efficiency and share feedback for targeted training.

Analytics & Reporting:

The analytics and reporting feature transforms data into actionable insights by providing detailed reports on the various aspects of the sales funnel. This allows businesses to identify areas for improvement and optimize their sales strategy accordingly. Analytics and reporting features can also generate sales forecasts with the help of historical data, boosting data-driven decisions and ensuring effective resource allocation.

With SquadStack’s analytics and reporting, you can monitor everything from lead generation and call attempts to quality, conversions, and cost of sale. Weekly and monthly trends provide valuable insights, allowing you to make data-driven decisions to maximize ROI. By analyzing call dispositions, conversion rates, and lead sources, you can pinpoint weaknesses in your funnel and optimize campaigns for better lead quality and improved conversions.

Automated Workflow:

The automated workflow feature of sales tracking software ensures consistent communication, keeps leads engaged, and steadily moves them through the sales pipeline by streamlining repetitive tasks. Automating specific actions based on predefined criteria frees up the sales reps' time to focus on high-value activities like building relationships and closing deals.

SquadStack's dynamic workflow system takes over after the prioritization of leads. It acts like a customizable roadmap, allowing you to configure different outreach channels like calls, emails, SMS, WhatsApp, and IVR. Depending on how a lead interacts with each touchpoint, they automatically progress to the next most relevant step in the workflow. This ensures you engage leads on their preferred channels and at the right time, streamlining the nurturing process.

Integration Capabilities:

Integration capabilities allow your sales tracking software to seamlessly connect with other platforms like your CRM, marketing automation tool, etc. This two-way flow of data ensures everything stays synchronized. Integrations create a unified ecosystem, streamlining workflows, improving data accuracy, and providing a more comprehensive view of the customer journey.

SquadStack eliminates data silos by integrating with standard CRM systems like Salesforce, Pipedrive, and Freshsales, along with custom integration with your tech stack. This seamless connection allows you to effortlessly import leads you want to nurture and qualify them through SquadStack's outreach.

How is Speech Recognition Used to Track Sales Conversation?

SquadStack’s automatic speech recognition system transcribes all the call recordings stored on the AWS S3 bucket into transcripts. We use these transcripts, along with the original audio, to build scripts, FAQs, and a knowledge base for the telecallers.

SquadStack tackles the complexities of India's massive consumer market by managing over 40 million calls annually across various industries by leveraging a network of over 10,000 trained telecallers. SquadStack’s Speech Recognition is an AI-powered solution specifically trained to handle the nuances of the country’s diverse languages.

A Step-by-Step Guide to Building Your Sales Tracking System

A robust sales tracking system is the backbone of any successful sales operation. It keeps you organized, informed, and ultimately drives results. Here's a step-by-step guide to get you started:

• Define Your Goals and Key Metrics (KPIs): Understand your goals, whether you want to improve lead conversion rates, shorten sales cycles, or boost team performance. Once decided, define the specific metrics (KPIs) that will track progress, such as the number of leads generated, conversion rates at each stage of the pipeline, etc.

• Choose the Right Sales Tracking Tool: Look for a tool that aligns with your goals and budget. Consider the features we have already discussed above.

• Design Your Sales Pipeline Stages: Break down your sales process into distinct stages, like "initial contact," "qualification," or "proposal sent." This helps visualize deal progress and identify bottlenecks.

• Train Your Sales Team: Educate your team on the sales tracking system, including how to use it, what data to enter, and the importance of accurate information.

• Regularly Analyze & Optimize: Schedule a regular time to analyze your sales data. Based on your analysis, adapt your sales strategy, pipeline stages, or even the sales tracking system itself to optimize performance.

Track Daily Contact Center Sales Conversations with SquadStack

SquadStack empowers the sales team to focus on closing deals. By automating repetitive tasks like call logging, SquadStack frees up valuable time for what matters most - connecting with leads and making sales. We allow you to gain valuable insights directly from our dashboard and leverage our customizable reports to identify areas for improvement and make data-driven sales success.