Effective sales efforts are often the result of quality leads and the right sales strategies combined with sophisticated tools. In fact, there are many different types of tools sales teams use to achieve their goals. One of the most impactful tools in a sales agent’s arsenal is a sales dashboard. It's no surprise that insurance agents may get excited by never-evening rows of data. They are likely to feel invigorated when they see engaging charts and graphics that quickly help them understand their team’s performance. Sales dashboards are a visual representation of multiple data points, particularly information relevant to sales.
The most effective sales dashboards provide a high-level overview of the most significant KPIs and drivers that help you to quickly identify performance. Sales dashboards can help insurance agents and teams easily translate data. From this, agents can hone in on areas of potential improvement and impactful insights into their business. Most dashboards can be customized to pull data that represent key themes. Themes may include new opportunities or monthly conversion goals. Ultimately, dashboards have the ability to easily provide solid metrics without unnecessary complexity.
Insurance sales teams typically use January as a time to hit the ground running. Teams also may identify new tools that will help them succeed in the new year. As your team evaluates various technologies, tests new sales strategies and researches new business platforms, it is important to consider the value of an intelligent sales dashboard. Here are four ways having a sales dashboard could benefit your team in 2021.
#1. Save Time: Access KPIs & Important Data Quickly
Sorting through spreadsheets is not only time consuming and tedious, it can also lead to human error. The longer accurate reporting takes, the longer teams must wait to review meaningful data that can affect their sales strategy. Sales dashboards pull data from predesignated areas. Then they can quickly convert it into bold graphics that help teams identify strengths, weaknesses, opportunities and wins.
#2. Better Align Sales & Marketing Efforts
CRMs often house so much valuable data that can drive both sales and marketing insight if leveraged appropriately. Insurance sales managers can review dashboard reports against marketing strategies to see what is driving the most results. Dashboards can also help insurance teams quickly compare performance metrics to better determine the ROI of marketing spend.
#3. Save Money: Target Customers With Data-Driven Insights
There are few things in sales as valuable as customer data. First-party data is the fuel of any successful pipeline management and conversion strategy. Data-driven insights can best position an insurance sales team to focus their efforts. They may focus on strategies with the greatest propensity to drive conversions, sustaining customer retention efforts and scaling new customer acquisition. Unfortunately, mining customer data can be extremely time-consuming. Dashboards can save insurance sales teams money by connecting them with useful data that will support strategic decisions. This way, agents don't waste money attempting to guess or assume what works.
#4. Foster Healthy Competition Through Gamification
Often sales professionals are self-motivated. Usually, they can be inspired by the thought of being the best. Many sales professionals welcome the chance for light-hearted competition. Gamification helps insurance team leaders encourage each individual sales representative to push themselves and strive to excel. Sales dashboards can create a leaderboard-style graphic by configuring it to display KPIs that reflect the individual performance of team members. The gamification that dashboards can provide sets the stage for personalized recognition. This may help your team focus on the metrics that drive the most desired results.
The world of insurance sales can often feel like a whirlwind of many tasks. However, insurance sales teams can translate the chaos with the right equipment. Sales dashboards can help insurance team leaders quickly gain visibility in multiple areas of their insurance business, but dashboards cannot work alone. It’s important to remember that sales dashboards do not replace your CRM, other SaaS products or marketing tools. Instead, sales dashboards can harness the data in your CRM and sales management tools. After, the raw data can be turned into easily consumable and actionable data insights.
Partnered with a CRM, sales dashboards are powerful tools to aid the management of your team’s performance and offer a more clear analysis of your customers. Of course, data-driven sales strategies work best on quality leads that are interested in your products and services. ZipQuote understands the value of a win-win strategy. Click here to learn more about how ZipQuote can help you grow your business.
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