The 3 Types of Sales Data Your Organization Needs

The average sales organization uses 10 sales tools and counting. But having lots of technology doesn’t always mean having lots of insight. While they may be overloaded with sales data, few sales organizations mine this data for its full value.

These organizations need to find a way to turn their sales data into an asset. They need to know what types of data exist and the best way to use this data to succeed.

Data is the lifeblood of sales organizations—or at least it should be. Sales data includes any information organizations use to make decisions relating to their sales teams about hiring sellers, positioning their offerings, reaching out to buyers, and more.

But some organizations are swimming in too much data from their sales technology stack to maximize its value. Others may not know the best way to analyze their data and keep adding tools to gather more information.

Capturing the right types of data is essential to sales transformation. Your organization should be analyzing three types of data above all.

Sales organizations say talent gaps are their top internal challenge, according to our 2020–2021 Sales Performance Study. But for years, these organizations have taken an instinct-driven approach to hiring and promotions. If leaders define “good” sellers as those who close more deals and hit their sales quota, these metrics may not account for whether a seller has inherited a target-filled territory or relationships other sellers have cultivated.

Looking at what’s made sellers successful also doesn’t account for current changes in the market or buyer expectations. When choosing talent, sales organizations must focus on the traits and skills—such as learning agility, digital capabilities, and cultural fit—their team will need in the future. And they need to ground these talent decisions in data.

Many types of data allow sales leaders to figure out which competencies predict success. At the hiring stage, using assessments to determine which candidates have the ideal skill set, mindset, and cultural fit can help organizations differentiate their sales performance, accelerate productivity, and increase employee retention.

And by pairing assessments with data from their customer relationship management (CRM) software, sales leaders can build a success profile of critical traits, drivers, and competencies such as strong customer focus, ability to manage complexity, and striving for achievement. Sales managers can assess candidates for those competencies against a success profile and develop existing candidates who fall short.

With a scarcity of talent, the right total rewards package motivates teams and aligns pay and performance to drive sales, balancing the right pay and pay at risk for their sales environment. Using compensation benchmarking data allows sales leaders to design sales compensation plans that give them a competitive advantage and are cost-effective and linked to business goals.

Today’s buyers want sellers to understand their business, offer insights, and communicate with them. But they also want to understand the value of sellers’ solutions.