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Articles How to Double Your Sales Using These Top 10 Sales Tracking Techniques

How to Double Your Sales Using These Top 10 Sales Tracking Techniques

Sales Work Efficiency
Vlad Kovalskiy
11 min
5019
Updated: January 17, 2024
Vlad Kovalskiy
Updated: January 17, 2024
How to Double Your Sales Using These Top 10 Sales Tracking Techniques

Table of Contents

Introduction


If you’re having trouble boosting your sales numbers, the solution might be easier than you think. Sales tracking software allows you to streamline your workflows and optimize your approach so you and your team can increase revenue. 

Forget about clunky, error-prone sales tracking spreadsheets. We’re talking about purpose-built software where you can craft and track every aspect of your sales process, from lead generation to conversion and beyond. 

By automating tedious tasks, providing valuable insights into customer behavior, and much more, a sales tracking system can help you double your deals without doubling the hours you put in. In this article, we’ll explore the top 10 sales tracking techniques that can help you get there in the easiest way possible. So let's dive in!


1. Start by setting clear sales goals

Whatever line of work you’re in, setting clear goals is the first place to start. They act as targets that all of your other efforts are based around, and are the metric by which you can track progress, measure success, and spot areas for improvement. 

To set your goals, start by defining your overall business objectives. Then, break them down into smaller, measurable goals that are specific, achievable, and relevant to your business. For example, you may want to increase your monthly revenue by 20%, increase the number of new customers by 10%, or improve your customer retention rate by 15%.

Once you’ve established your sales goals, sales tracking software will allow you to track your progress in real-time. Your goals are the benchmark for success, and if you’re not reaching them, you have the data at hand to adjust your sales process accordingly.

Clearly, setting objectives is just the beginning. We’ll now move on to the workflows and sales tracking tools that help you achieve your goals. 


2. Break your goals down into key performance indicators (KPIs)

Now you’ve got your over-arching goals, you can break them down into smaller key performance indicators (KPIs). KPIs should measure every important aspect of your success, which helps you measure sales performance and identify areas where you need to improve. 

Some common KPIs in sales include:

  • Sales revenue: the total amount of revenue generated from sales.

  • Conversion rate: the percentage of leads that turn into customers.

  • Sales growth: the rate that your sales revenue grows.

  • Average deal size: the average value of each sale.

  • Sales cycle length: the amount of time it takes to close a sale.

  • Lead response time: the amount of time it takes to respond to a lead.

  • Sales pipeline value: the total value of potential sales opportunities.

When you get deep into sales activity tracking, you can analyze trends and patterns in your results and make data-driven decisions to improve. For example, if you notice that your conversion rate is low, you may want to focus on tweaking your sales pitch or targeting more qualified leads.


3. Get familiar with a customer relationship management (CRM) system

A CRM is much more than just a customer data organizer. You can use it as a sales tracking system, a platform for client interactions, and a source of performance data.

Your CRM is where you store customer information, such as contact details, purchase history, and communication history. With this information, you can segment your database and personalize your sales approach to improve customer engagement. Additionally, a CRM system can help you automate repetitive tasks, such as sending follow-up emails or scheduling appointments.

Other key features of a CRM system include lead and opportunity management, sales forecasting, and reporting. These features can help you identify potential sales opportunities and track your sales performance over time. 


4. Create data-driven sales workflows (but don’t be afraid to change them!)

The best sales tracking software allows you to create workflows that are based on data and insights from your sales team. By standardizing your sales process, every member of your team follows the same steps to meet targets.

Automation is a critical component of a sales workflow. By automating repetitive tasks, such as data entry or follow-up emails, you can free up time for your sales team to focus on more important tasks, such as closing deals and building relationships with clients. Automation can also reduce the risk of human error and ensure that your sales process is consistent and accurate.

A sales workflow also allows you to track your progress and see which steps need improvement. You can check success and time taken for each step, pinpoint bottlenecks, and make data-driven decisions to streamline your workflow and improve results while reducing admin tasks.


5. Track sales team performance on a granular level

In tandem with your workflows and KPIs, you can use performance assessment tools to see areas where they excel and where they need to improve. Sales tracking software can help you monitor your team's performance in real time and set a wide range of filters for an in-depth analysis.

As we mentioned earlier, your sales activity tracking can be based on KPIs such as sales revenue, conversion rate, and sales growth. 

But another way to track team performance is by using time-tracking tools. Time trackers show you how much time your team is spending on specific tasks at the click of a button. This is a great way to monitor how long calls take, or how much time is reserved for admin tasks. If you feel targets aren’t being met, arrange a meeting and provide additional training to get those numbers back on track. 

Your tracking is relevant both on an individual and a team level. By setting individual and team targets, you can motivate your team to work towards a common goal and encourage healthy competition.



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6. Understand your customers’ behavior

Customer behavior is continually changing, and it's important to keep your ear to the ground if you want to meet their needs and offer the right products and services. Sales tracking software can help you analyze customer trends and incorporate them into your approach.

Customer surveys are a great place to start. Ask your customers both general and specific questions about their experience with your products or services, and draw out valuable insights into their needs and preferences. With the right CRM, the data will automatically upload to your database, where you can download a sales tracking spreadsheet at the click of a button. 

While surveys play a valuable role in understanding behavior, another method is through website analytics. By integrating Google Analytics into your website, you can track patterns and trends in how customers interact with your site. This information can help you optimize your website design and improve your user experience, which can lead to increased conversions and sales.


7. Looking to the future: Sales forecasting

Sales forecasting is all about predicting future trends and planning your sales and marketing strategies accordingly. Sales tracking software can help you forecast by providing you with historical and real-time data that you can use to make informed decisions.

Get creative with your forecasting. You can link predictions to individual and team targets, raising the bar at busy times of the year, and incentivizing your team with rewards for the top seller.

Sales forecasting also helps you plan for the future by taking potential sales opportunities and challenges into account. By forecasting your sales, you can prepare for periods of high demand and ensure that you have enough inventory or resources to meet customer needs. You can also spot potential challenges, such as seasonal fluctuations in demand, and plan accordingly.


8. Don’t neglect your marketing campaigns

Marketing and sales are intricately linked and should be analyzed together. Therefore, a part of your sales tracking software arsenal should be marketing intelligence, where you can analyze the quality of your lead generation and lead classification efforts.

By tracking your marketing campaigns, you can pinpoint which channels are generating the most leads, and allocate your sales resources accordingly. For example, if you find that your social media campaigns are leading to the most sales, your sales team can prioritize these customers. This can help you to maximize the return on investment and increase your overall performance.

Campaign tracking and A/B testing also allow you to measure the ROI of your marketing efforts and identify areas where you need to improve. By frequently looking at your performance and making small, measurable adjustments, you can gradually optimize your strategy, spending less money to achieve more sales.


9. Keep an eye on your competitors

Analyzing your competition allows you to stay relevant in your market and capitalize on areas where you can get ahead of the rest. To get you started, here are three examples of how you can analyze your competition:

  • Monitor their pricing strategy and respond to any changes they make. This will help you to stay competitive and adjust your pricing strategy accordingly.

  • Analyze their marketing campaigns and understand which channels and tactics they are using. This can help you choose if you want to fight a high-competition battle or target more niche demographics and work on earning loyalty.

  • Evaluate their product portfolio and compare it against your own to identify any gaps or weaknesses. You might call it “borrowing ideas”, but it’s a far better tactic than putting your head in the sand. 

Sales tracking techniques like this can provide you with the insights you need to stay competitive and stay at the cutting edge of your industry. It’s a double-edged sword where you can match your competitors on their strengths while exploiting their weaknesses.


10. Regularly review and refine your processes

We live in a fast-paced world, if you hadn’t noticed, and when it comes to sales, your work is never done. Scheduling regular reviewing and refining sessions is a key part of staying ahead of the game. With changing customer behavior, constantly improving competitors, and myriad third-party influences, an analytical eye always prevails.

To make things easy, here are three tips for regularly reviewing and refining your sales process:

  • Set recurring calendar reminders to review your sales process. This will help you improve your approach as a force of habit, rather than going on a rollercoaster of success and crisis.  

  • Get feedback from your sales team, as they’re the ones on the ground. As a manager, it’s easy to miss some of the common complaints or ways to improve that your team sees on a daily basis. 

  • Analyze your data with sales tracking software and identify areas where your sales process could be improved. Patterns and trends in your data can complement the anecdotal evidence of your sales team with cold, hard data.

By regularly reviewing and refining your sales process, you can stay ahead of the competition and get closer to the goal of doubling your sales. Modern sales tracking software comes with serious analytics that can help you to make data-driven decisions and optimize your strategy. But your software needs to cover other areas to be complete, such as recurring calendar reminders, video calls to talk to your team, and performance assessment software that allows you to evaluate your team accurately.


One platform for all your sales efforts

It’s no secret that effective sales teams are crucial to the success of any business. By using sales tracking software, you can take your team to the next level by streamlining diverse areas of your working processes. 

Bitrix24 offers a comprehensive sales tracking solution that brings together every aspect of your work on a single platform. As a Bitrix24 user, you’ll be able to make a serious impact with the following natively integrated features:

  • A CRM that helps you manage customer relationships, including contact and lead management, sales pipeline tracking, and sales reporting.

  • Sales automation tools that streamline your sales processes, automate routine tasks, and improve your team's productivity.

  • Email marketing to create and send targeted email campaigns to your customers and prospects, and track the success of your campaigns with detailed analytics.

  • Telephone software to make and receive calls directly from your CRM, track your sales team's call activity, and analyze call data to improve sales performance.

  • Project management to manage your sales projects, collaborate with your team, and track project progress in real-time.

So if you need sales tracking tools that will help you double your sales, sign up for Bitrix24 today and see how it can revolutionize your team.


FAQs


What is sales tracking?

Sales tracking is the process of monitoring and analyzing a company's sales efforts, including lead generation, customer acquisition, and revenue generation.

Why is sales tracking important?

Sales tracking is important because it helps businesses identify areas for improvement, optimize their sales process, and increase revenue. It also provides valuable insights into customer behavior and helps businesses make data-driven decisions to improve.

What is the best way to track sales?

The best way to track sales is by using a customer relationship management (CRM) system, which can help businesses track KPIs such as:

  • Customer interactions
  • Managing leads
  • Identifying potential opportunities
  • Setting clear sales goals
  • Analyzing customer behavior

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Table of Content
Table of Contents 1. Start by setting clear sales goals 2. Break your goals down into key performance indicators (KPIs) 3. Get familiar with a customer relationship management (CRM) system 4. Create data-driven sales workflows (but don’t be afraid to change them!) 5. Track sales team performance on a granular level 6. Understand your customers’ behavior 7. Looking to the future: Sales forecasting 8. Don’t neglect your marketing campaigns 9. Keep an eye on your competitors 10. Regularly review and refine your processes One platform for all your sales efforts FAQs What is sales tracking? Why is sales tracking important? What is the best way to track sales?
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