- New Economist Intelligence Unit report finds that sales leaders integrate data use into their daily routines
- Investment in training and coaching on data use produces measurable returns
- Sales leaders bring analytics to corporate leadership
The top sales performers harness data and integrate it into their daily routines a new report finds. Almost all—97%—of companies who said they were very good at executing on sales objectives (defined in this research as sales leaders) had real-time, self-service access to customer or account data. Three in five (60%) of these firms said they access sales reports one or more times per day.
These are among the findings of a new study by The Economist Intelligence Unit (EIU): Unique selling points: Separating sales leaders from the pack, released today. The report was sponsored by Qlik. Through in-depth desk research, interviews with senior sales executives and a survey of 550 global sales leaders, the report examines the major differences between sales leaders and laggards from cultural, behavioural and workflow points of view, particularly as these differences relate to the use of data.
The research also found that investments in training and coaching initiatives, and the data tools that empower sales teams, do seem to produce measureable returns. Sales leaders were more likely to see themselves as stronger than the competition in terms of revenue growth, profitability and market share. For example, 42% of companies that claimed to be very good at executing on sales objectives said they were much stronger than competitors in terms of revenue growth, versus 11% of other firms.
Sales leaders also take steps to embed sales analytics in the senior levels of the organisation. Comparing sales leaders versus others, 32% of leaders and just 19% of laggards said sales analytics were used very extensively by the C-suite, 56% and 38% respectively said they were used by the head of sales, and 50% and 31% respectively said they were used by senior sales staff.
Charles Ross, the editor of the report, said:
“The increasingly central place of data in the sales environment has raised new concerns—privacy and security foremost among them—but for any company determined to reach its sales potential, the business intelligence and illumination of opportunities associated with a data-driven approach are likely to far outweigh any possible drawbacks.”
The report is available to download here.
Charles Ross, senior editor
Notes to editors
About The Economist Intelligence Unit
The Economist Intelligence Unit is the world leader in global business intelligence. It is the business-to-business arm of The Economist Group, which publishes The Economist newspaper. The Economist Intelligence Unit helps executives make better decisions by providing timely, reliable and impartial analysis on worldwide market trends and business strategies. More information can be found at www.eiu.com or www.twitter.
Qlik (NASDAQ: QLIK) is a leader in visual analytics. Its portfolio of products meets customers’ growing needs from reporting and self-service visual analysis to guided, embedded and custom analytics. Approximately 36,000 customers rely on Qlik solutions to gain meaning out of information from varied sources, exploring the hidden relationships within data that lead to insights that ignite good ideas. Headquartered in Radnor, Pennsylvania, Qlik has offices around the world with more than 1700 partners covering more than 100 countries.