Effective data use offers an edge over the competition by giving sales teams insights into how they can maximize their revenue opportunity. However, the meaning of “effective” has evolved significantly over the past few years.
The old theory of using data effectively for sales process optimization merely measured KPIs and made forward-looking adjustments. That is no longer enough. Companies that remain mired in this old, reactive, way of thinking are suffering from a serious Sales data deficiency crisis that leads to significantly less revenue.
To maintain an edge over the competition in our increasingly competitive environment, Sales leadership must also deliver insights to their teams in real-time. This is the future of sales technology.
DealHub CPQ + DealRoom is the next-generation technology delivering that future right now.
Sales KPIs are not Enough to Achieve Maximum Revenue Impact
Sales KPIs do not provide the real-time insights that give you the edge over the competition. Here are just a few examples of how that harms revenue:
One example is that sales KPIs don’t deliver any insights about real-time buyer intent. For example, your KPI might tell you that your win rate drops significantly if your sales cycle runs past a certain duration. However, they won’t tell you when a lead goes cold, or when you have an opportunity to accelerate an existing deal and increase your chances of winning it.
A second example is that sales KPIs don’t allow you to quickly optimize product pricing and configuration options. So, while you might know that a certain bundle is a great cross-sell or upsell for a certain customer profile, a sales rep might not recognize the opportunity.
A third example is that while sales KPIs might tell you that your leads respond to specific types of messaging at certain points in the sales cycle, they won’t help you to react quickly and deliver that content at just the right moment while you are nurturing a prospect.
Related Article: How to Close Deals Faster with DealHub DealRoom Proposal Software
DealHub CPQ + DealRoom is the Future of Sales Data
Our innovative DealHub CPQ + DealRoom empowers Sales teams to use real-time data to act on opportunities and achieve more revenue. Unlike other online data repositories, it solves the data deficiency crisis by collecting data on buyer engagement and then using it to deliver effective insights into how sales teams can optimize their processes.
Our DealRoom virtual deal room solution gives you interaction notifications when your buyers interact with your content and deal documents. That way, you can connect when the prospect’s interest is high and you have the best chance of moving the conversation forward. Or, if there is no engagement, you’ll know that interest is cooling and can step in and try to rekindle interest.
In addition, DealRoom also gives you the ability to deliver custom sales content with custom branding from an online repository. Providing a secure virtual deal room enables parties to the deal transaction to share and access critical documents in one secure location. Data is collected on these interactions so that if a prospect shares a pain point or raises an objection, you can immediately deliver the correct messaging.
Taken together, this gives you real-time deal data that empowers you to speak directly to whatever your potential customers consider relevant, at every point in the sales cycle.
In addition, DealHub CPQ’s subscription management capabilities automatically generate optimized upsell and cross-sell bundles based on buyer personas. This empowers sales reps to use real-time insight to offer prospects exactly what they need to maximize the revenue opportunity over the long term.
And finally, all of the data generated by DealHub can be used to search for additional insights that will improve real-time processes in the future. Your sales analytics become an engine that is continually driving real-time decisions based on constant analysis of buyer engagement, interactions, and momentum.
Learn more: What is a DealRoom?
DealHub Solves the Sales Data Deficiency Crisis
In the past, you might have had an occasional sales team meeting to talk about what works and what doesn’t. But with DealHub, you have hard sales deal data insights working for you in real-time. This complete control over your entire deal process is how you eliminate the data deficiency crisis and join the ranks of the high-performing Sales teams that consistently give themselves the best opportunity to close more deals and achieve higher revenue, both now and in the future.
DealHub CPQ has been selected as a Top-50 Sales Product by G2 and recognized as a leader in the CPQ Momentum Grid. We have innovated the next generation of CPQ to empower teams to connect their sales technology and their teams to send their revenue to new heights today and in the future.
