Read Article: https://lnkd.in/ebAfCpjR How to calculate Sales team's incentive in Spreadsheet

📌Deducing Sales Data 💰📉📊 Salesmen, gather here.... Closing a sale, hitting sales targets is what sales is about, yes? Not quite. What happens after all is said and done? You've made revenue and so? What happens after sales is just as important as why the sale happened (or didn't) in first place and why it will (or not) happen again. Here enters, sales data 💰📉📊. This is the cross-examination of the market's response to marketing's efforts💡 and sales' execution💪🏿 . This is where marketing and sales can fist-bump 🤜🏿🤛🏿. The ICPs marketing built is validated by data in sales' customer profile. Sales data 📊📉📈 answers marketing's why ❔ and how❔ from a practical on-the-ground perspective that later refines sales targeting. You catch the drift, yes? It's easy to feel sales ends at securing the bag. But effective sales contribute to product insights leading to overall organisational success. As the month closes, don't just sell for revenue....sell for impact! PS: writing this post as I prepare monthly sales reports!😬😬😬 #sales #salesmanagement #salesdata

let’s create the table schemas and insert some sample data into them. Create Sales table CREATE TABLE Sales ( sale_id INT PRIMARY KEY, product_id INT, quantity_sold INT, sale_date DATE, total_price DECIMAL(10, 2) ); SELECT * FROM Sales; Insert sample data into Sales table INSERT INTO Sales (sale_id, product_id, quantity_sold, sale_date, total_price) VALUES (1, 101, 5, '2024-01-01', 150.00), (2, 102, 3, '2024-01-02', 90.00), (3, 103, 2, '2024-01-02', 60.00), (4, 104, 4, '2024-01-03', 120.00), (5, 105, 6, '2024-01-03', 180.00);

Data is the backbone of outbound sales. If your data is off, everything else will fail. Make sure you fully understand your data before taking any other steps. If your sales team is already making calls without a thorough data review, fix that immediately.

The State of Sales Follow-Ups: There is data indicating that sales closure rates can increase significantly, up to 80%, when sales representatives follow up with leads more than five times.

We’re getting very close to launching a new tool that will ultimately change Sales intelligence, sales process and ultimately - Sales altogether. No more second guessing who to approach, how many stakeholders are involved and how the sales process should look like. Data like you’ve never seen before. Want to have early access? Sign up to our waitlist. You won’t regret it. https://lnkd.in/d8r9bgV7 #sales

This report shares our compiled data on the average sales cycle length by industry in 2024. The data is segmented by stage, giving the length of time in days for the initial contact, proposal, negotiation, and closing. Read Here: https://lnkd.in/eNxHgRc3

Sales reps don't close deals; buyers do. However, sales reps can and should enable buyers to do so. According to the 2023 Sales Benchmark Report from Ebsta and Pavilion, we learned that for medium-sized and larger deals, win rates average 48% when engaging with 7-9 stakeholders, 32% when engaging with 4-6 stakeholders, and 15% when engaging with 1-3 stakeholders. However, it's not as simple as just engaging with more stakeholders. This often results in an email and file-sharing mess. It's about creating real relationships, and the easiest way to do so is to gather everyone and everything in one shared digital sales room. Check out how 👉 https://lnkd.in/eskgyF2q

When you're tracking sales, the worst mistake you can make is realising too late you are having a bad month. At any moment, know how you are trending vs benchmarks and pre-emptively act to get ahead. Here's how. 1. Keep a record of your sales by channel over the last 12 months 2. Enter the days of the month passed and remaining this month, including sales days and base days 3. Enter the month to date sales and spend figures per channel 4. Let the formulae project the full-month sales and profitability, then benchmark vs the last month, yearly avg. and same month last year 5. Set up custom colour formatting on the % difference to flag results Now, you have a custom dashboard to clearly see where you are tracking well and behind. So, you know where to shift spend, scale spend and where to focus your efforts. Never go into a sales meeting halfway into one month, talking about how last month was not as good as the month before, just because you only just got the data in, finished a report and set up a meeting. See trends ahead of time, propose action, get approval and deliver. Your clients will thank you for it :) #salestracking

Necessary Calculation for Dendrogram chart @Sales WINDOW_SUM(SUM([Sales]))/2 @Total Sales WINDOW_SUM(SUM([Sales]))/2 @Percentage [@Sales]/[@Total Sales] @percentageAdjustment [@percentage]/WINDOW_MAX([@percentage]) @Rank RANK_UNIQUE([@Sales],"desc") @X (INDEX()-1)*0.12-6 @Sigmoid 1/(1+EXP(-[@X])) @Y [@Sigmoid]*([@Rank]- (WINDOW_MAX([@Rank])+1)/2)/100 @Size IF [@X] >= 6 AND [@X] <= 6 + (10*[@percentageAdjustment]) THEN 1 ELSE 0  END