As markets become increasingly complex and competitiveness rises, the capability to flexibly plan, analyze, and…
In a recently released report by Dresner Advisory – the Wisdom of Crowds 2020 Sales Planning Market Study – 66% of surveyed professionals said they considered sales planning to be “Important”, “Very Important”, or “Critical” to their organization’s sales performance. Despite this, only 35% of respondents reported using any form of sales planning software.
With differentiation between companies becoming harder to achieve, and customers no longer as loyal as they once were, a competitive sales strategy – supported by a feasible action plan – is essential to success. In this blog, we’ll explore how a sales planning solution can help you to create an achievable sales plan in line with strategic goals and internal capabilities, and what you should look out for when selecting one.
Sales planning software enables organizations to put in place their commercial strategy, monitor and control sales performance, and re-orient commercial action plans according to effective sales data. A sales planning solution supports customer segmentation activity, sales budgeting, quota and territory planning, sales forecasting, sales analytics, and incentive & compensation management, integrating relevant information from CRM, ERP, HR, and other legacy systems.
Sales planning is traditionally carried out as a departmental activity with the goal of achieving a set sales target. Sales leader(s) must work out how to achieve it – typically using a spreadsheet-based plan. In producing this plan, sales leaders face several challenges:
A sales planning solution can overcome these issues and transform sales performance by bringing together all the information required to produce an accurate plan. A comprehensive platform which also incorporates sales analytics can enable businesses to:
Take a look at this case study from KUKA to see some of the benefits of a sales planning solution in action.
To realize the benefits of an integrated approach to sales planning, and drive transformation in the sales planning process, a sales planning solution needs to offer the right combination of capabilities. Some of the key planning functionality to look for, as rated by Dresner’s market study respondents (see the report for the full list), includes:
In addition to these planning features a sales planning solution should also incorporate the ability to analyze data from multiple sources across the organization, so the true impact of sales on other areas of the business can be identified and taken into account when making decisions.
For more information on sales planning software, and to learn how a fully integrated approach is more beneficial than a standalone solution, take a look at this on-demand sales planning and analytics webinar.
Better understand the features and company-wide benefits offered by a Sales Performance Management solution and learn why Board was ranked #1