Daniel’s wife boiled 90% of the eggs in their fridge this morning. If only he would’ve known before he grabbed one of the other 10% for lunch. Conference table. Team laughter. Gooey yolk… Everywhere.

What information are you missing? When a sales team doesn’t see results and isn’t quite sure why, data and analytics help paint the whole picture. Sales analytics is a crucial process to any thriving sales program. The concept revolves around analyzing data and insights (derived from the use of technology) to improve sales performance.

Here are five benefits of sales analytics.

1. Productive Sales Teams

Oftentimes, and especially at Salelytics, sales analytics comes through natural language understanding technology (NLU). By understanding the customer completely through real-time monitoring, post-call transcription, and more targeted training, sales teams become more efficient. Implementing these technologies reduces average handling time by 40%, which leaves more bandwidth for a team to work on productive tasks (McKinsey & Company).

2. Consistency and Quality Improvement

By providing new employees with specific phrases and a call flow based on the data of previous scenarios, sales analytics empowers teams to be successful. A consistent team is likely to improve over time. Agents that work with these solutions report a 69% improvement in agent satisfaction levels. Having deeper insights on hand helps to mitigate employee churn while keeping messaging dependable (Orange Business).

3. Better Forecasting

Logically more information should contribute to more predictable outcomes. Sales analytics helps sales teams fully understand the voice of the customer as well as current market insights. 90% of enterprise professionals say that customer journey data is important to building useful strategies (Gartner).

4. Understand Customer Feedback

Today, customized offerings are king. Though buyer personas might be identifiable, actual prospects have one-of-a-kind situations that set them apart. When 75% of customers say they expect companies to anticipate those unique needs, analyzing associate, customer, product, and marketing trends becomes crucial. (State of the Connected Customer).

5. Improve Win and Retention Rates

Being better armed with information improves win and retention rates. In a survey of over 1,000 sales organizations, 53% (who were high-performers) rate themselves as effective users of analytics. The same study named maximizing customer lifetime value and getting the right price for deals as two primary sources of value for sales analytics (McKinsey & Company).

If not implementing sales analytics, you’re likely putting yourself at a great disadvantage. Avoid egg on your face and capitalize on these five benefits of sales analytics. (Don’t know where to start? Explore a partnership with Salelytics. Learn more about our tech stack here)!