Every sales team has a unique strategy for closing deals. What’s common between them is that they all rely on data to base their sales strategies. By itself, data can be overwhelming and confusing but when organized and analyzed, it can provide useful insights.
Dynamics 365 for sales makes it easy to uncover insights that can help a sales team identify potential opportunities, understand customer needs and develop strong relationships. The power of AI can benefit sales teams at call centers as well as those in the field. Here’s how.
The first job for a sales team is to find buyers. Then, to convert a sale, the sales team must not only convince the buyer of the product’s benefits and features but must also connect with the buyer’s needs. Thus, it is imperative for the sales team to know their customers.
Microsoft Dynamics 365 Sales Insights helps with both these tasks. Through a visual connection graph, it identifies people who are already connected to a prospective buyer. It also analyzes the strength of this relationship and helps identify opportunities for introductions. Building connections through introductions is always easier and warmer than cold calling.
Once the right connection has been made, a salesperson with Dynamics 365 Training can get talking points through sales insights. Sales analytics can help the team understand the customer’s ideal price points, when and how they are most comfortable buying a product and how many deals they have made in the past. Thus, it gives the team a detailed profile. With this, the sales team can target the buyer’s needs directly and make a lasting impression.
When relying on manual notes and reminders, it isn’t uncommon for a salesperson to forget that he/she has to get back to a potential customer. This can make leads slip through the cracks and weaken relationships. It takes a lot more effort to close deals with a customer who doesn’t have a good relationship with the company than one who does.
Dynamics 365 keeps this from happening. It analyzes data such as the customer’s response rate to the last enquiry, activities initiated, number of meetings held, number of emails exchanged and the last time the customer was contacted to give the team an insight into their relationship with individual customer accounts in the form of a relationship score. This helps the sales team identify customers that need attention and helps maintain strong relationships so that closing deals becomes easier.
Identify Deals with the Highest Potential
One of the main challenges for a sales team is to weed out leads with actual potential from the lead pool. If the right leads are not identified and left uncontacted, leads grow cold and customers turn to competitors.
Dynamics 365 Sales Insights score opportunities and prioritize leads that have the highest potential of being converted. This is based on advanced scoring models and a broad set of influencing factors. Thus, it keeps leads from growing cold and increases conversion rates.
Improve Sales by Analyzing Interactions
Workshops and seminars on how to improve customer calls are ineffective if a company cannot analyze how the advice given has been put into action.
Dynamics 365 conversation intelligence does just this. It analyzes calls between sales representatives and customers and provides data-driven insight into how these interactions can be improved upon. AI technology identifies weak spots and areas where further training may be required. It also gives managers an opportunity to add notes to seller profiles that can help change the way they interact with customers. It identifies competitor names mentioned by customers, keywords and pain points to help the team predict upcoming trends and stay ahead of the market.
Automate sales actions
In the ideal world, sales representatives can focus all their attention on building contacts instead of spending time on routine tasks such as tracking communication and data entry. This world comes one step closer with Microsoft Dynamics 365.
The note feature in Dynamics 365 for Sales lets sales representatives and managers make notes about discussions, meetings, etc. The Dynamics 365 Sales Insights then analyzes these notes to prompt the creation of new records and actions. For example, it may analyze a note between two partners about discussing pricing with a customer to create alerts offering to set up an appointment with the customer. It can also take care of routine tasks such as tracking communication via emails and data entry. This saves time and effort and allows the sales team to focus on personalized engagement with customers.
Get Key Metrics at a Glance
The Dynamics 365 dashboard can be customized in a number of ways. This dashboard gives the sales team access to key metrics such as customer leads, opportunities, the number of deals closed, etc. These metrics are presented in visual, easy-to-understand forms that motivate the team and give a holistic view of the team’s performance. With mobile compatibility, this data can be accessed from anywhere thus allowing sales representatives to check details on the go.
Dynamics 365 Sales Insights can play a crucial role in gaining actionable insights from data. It makes it easier to build connections, strengthen them and convert sales opportunities. Thus, if you want to give your sales team a step ahead in the game, it’s time to consider Microsoft Certification.