Top 7 Sales Analytics Tools To Use In 2022
Tools used in sales analytics focus on many different areas. Therefore, choosing the right tool for your needs is as important as using the tool.
In this article, I will highlight the importance of using sales analytics tools. Then I will review some of the top tools in this field.
What is Sales Analytics?
Sales analytics is measuring, improving, and forecasting sales performance through tools and services using data effectively.
Sales analytics, which is a factor that will directly affect the performance of your sales team and your company, has become very important, especially in today’s marketing conditions, where the details determine the outcome of the competition.
The use of sales analytics tools, not only in long-term planning but also in times of crisis and rapidly changing conditions, enables companies to continue their lives with the least risk.
Especially for SaaS companies, where continuous monitoring of the product with the right metrics is vital, starting off without using Sales analytics tools means a severe loss of revenue and users.
How Can Analytics Increase Sales?
Sales analytics tools focus on the different requirements of the sales field and increase your sales efficiency by allowing you to analyze today, tomorrow, and yesterday.
The use of analytics breaks down the critical conditions for the sales area like a puzzle and increases the efficiency you get from each piece. Some of the pieces that make up the puzzle are:
Segmentation and User Analysis
Although your company and product promise great potential, it may not be successful because it does not meet the right user correctly.
Sales analytics tools allow you to identify the most valuable users for your product by segmenting users. In this way, your product always reaches the targeted user and does not show less success than its potential.
Of course, the valuable user is the user who needs your product and is ready to pay for it. Therefore, reaching this user significantly increases your sales.
Product performance analysis
By tracking the performance of your products, you can easily determine which user the product does not appeal to and why. When analyzed with analytical tools on the right metrics, the deficiencies of products that are very difficult to detect manually can be eliminated.
This small adjustment can lead to huge improvements in revenue. Your product, which did not respond to a specific request of users before, becomes advantageous in this area when it is developed in this direction. If you don’t use analytical tools, you may not realize what you’re losing.
Not using sales analytics tools when making pricing decisions will mean constantly trying until you find the right pricing. This will take away a significant portion of your valuable time. In addition, the right price you set will only be effective for a short time in today’s conditions where the dynamics in marketing are constantly changing.
By using sales analytics tools, you can analyze your users and determine the price they are willing to pay for your product. With trend analysis, you can predict changes that may occur in the future.
This not only allows you to generate maximum income from your users today but also prevents your loss of income due to changing conditions in the future.
Using sales analytics tools to identify your audience that uses your product frequently, pays significant fees, and will continue to stick with your product with the right decisions is vital for you to grow your sales and revenue exponentially.
If you lack these tools, it is very difficult to realize that this important user community is starting to prefer products that are your competitors.
The demands of this user group, which provides the most value for your product, form the future of your product. For this reason, increasing the retention rate of these users will have a vital effect on increasing your sales.
Forecasting and adaptation
Designing the future of your product and your company today is a complex and challenging process. In the field of sales, the future is just as important as today.
Because the future of your company and product depends on countless factors, it varies in complexity that is impossible to predict with manual tools. You can analyze these factors affecting the future separately through analytical tools.
When you have enough information, you can create realistic scenarios for all future conditions. Understanding what your company’s position will be in these scenarios gives you the power to change the future.
Time and investment management
Imagine trying to manually perform all the operations that sales analytics tools perform with all the details. Even manually performing the operations of obtaining data, analyzing, preparing reports, and then creating road maps to be followed according to these reports requires the perfect cooperation of hundreds of people.
The cost to be created by so much manpower means that the budget you will allocate for investments in different areas in line with the needs of your product will decrease significantly.
In addition, in the field of sales and marketing, where time management is vital, the time required for so many people to perform all these activities will make it very difficult to adapt to changing conditions. While you analyze the conditions of the past, your competitors can easily analyze the current conditions and take a position accordingly.
Sales analytics tools help you make the right investments in your product by transferring the time and money you lose with manual processes to the right channels. This significantly increases your income.
What Are The Most Important Sales Metrics To Track?
All of the sales metrics are part of a whole, and each of them is very important for the specific decisions you will make. But some metrics are more vital than others to the fundamental concepts that make a difference in sales.
Correctly analyzing these metrics creates radical differences for your product.
Monthly recurring revenue is the revenue your company expects monthly. The factors that shape this metric are all of the elements that make up your recurring income and expense stream. Regular monitoring of this metric helps you analyze your company’s financial performance.
Calculating recurring revenue becomes very difficult when sales analytics tools are not used. It is very difficult to calculate them one by one, considering that each of the users uses the products in accordance with different plans, and at the same time, special discounts and privileges are applied. Calculating this metric easily allows you to obtain very efficient information on such an important subject.
Conversion rate is simply a metric that measures the tendency of users who cross paths with your product to take the desired action. It is one of the critical metrics in sales.
- High conversion rate indicates that your product is being observed by the right people and that these people are interested in your product as you desire. Of course, this means that you are running a successful sales and marketing policy.
- Low conversion rate means your decisions and campaigns for your product should be revised.
Using this metric, you can directly analyze the impact of your decisions and campaigns on your goals.
Lead To Close Rate
Lead to close rate is a very important metric for measuring your company’s performance and competitive position in the sales field.
Lead refers to users who are interested in your product and are likely to pay for it.
The main goal is to bring your product together with all these users. However, similar products are also available in the market and everyone’s goal is the same.
Calculating how many of the leads you can deal with on your product allows you to monitor your sales performance at the departmental level and helps you perceive your position in the industry.
If other products are reaching the same leads much better than you, you may need to analyze your sales department’s performance and take various measures.
Here are the best sales analytics tool you can use at your SaaS:
Unlike other tools in this list, HockeyStack is not only a sales analytics tool. In fact, you can use HockeyStack for every department of your SaaS, including product, revenue, sales, and marketing analytics.
Using HockeyStack, you can build any dashboard you need with metrics from different departments. Custom dashboards allow you to connect the dots to better understand what drives revenue for your SaaS.
You can build dashboards using any metric you need with absolutely no code. For example, you can build a dashboard to understand the best performing marketing channels:
A revenue analytics dashboard:
Or a marketing analytics report:
HockeyStack has a free forever plan and 3 paid plans. Paid plans have a 14-day trial with a 30-day refund guarantee.
You can check out the pricing page here.
- Crisp Chat
- Salesforce (coming soon)
- Zapier (coming soon)
Salesforce is a tool that aims to maximize the communication of your departments with your users.
By providing this, it aims to provide you with the healthiest information about your users and to respond instantly to their needs by staying in touch at every point.
- Workflow Assistant
- Advanced Contact Management
- Market Automation
- Tools that enable forecasting
- Real time reports
- Scheduled e-mails
Salesforce is a tool focused on improving your relationship with your users in all aspects. Therefore, it aims to reach every point where your users are. That’s why it keeps the integration scale wide.
These integrations include Slack, Google Cloud, Mailchimp, and more
Pros and Cons
|The fact that it charges separately for additional features keeps you thinking about the price of your package.|
|Integration capability that will enable you to obtain data from many platforms and use them in your relationship with the user||The pricing policy is confusing.|
|Automation options lighten your department’s load.||The Learning process starts from scratch for each feature, as its focus is broad.|
|It offers customization options that you can adapt to your changing needs.||The interface is confusing. It requires high effort for simple operations.|
SalesForce creates small packages according to the features it contains. The number of these packets you have reached under the main headings is quite high.
Sisense is a business analytics tool that relieves companies of heavy data processing activities that can only be performed with high-end hardware and analyzes this data practically.
- Providing ad-hoc analysis of high volumes of data
- Data analysis and service to many users on a single commodity server
- High data size support
- Combining data in one body
- Maximum query options with minimum coding needs
Sisense offers a wide range of integration possibilities by combining its ability to process high volumes of data with the ability to acquire and analyze data from different sources.
These integrations include Zendesk, Amazon Redshift, OvalEdge, and more.
Pros and Cons
|It can process very large volumes of data quickly and successfully.||It offers a relatively narrow usage on mobile platforms.|
|User support is always a priority.||Because of the High fees, Sisense is not an option for every user.|
|Integrations are easy and often provide accurate data.|
In order to get a price quote, you need to contact the service and get the appropriate offer.
Gong is a sales analytics tool that records and analyzes all of your communicational interactions with your users and converts them into data. All of your conversations with your users are included in these interactions.
- Call Recording
- Converting voice to text
- Call Analysis
- Real Time Updates
- Feedbacks based on your previous calls by using AI
There are integration options with many platforms such as Zoom, Salesforce, Slack, Hubspot, Google workspace.
You can check out all the integration options here.
Pros and Cons
|You can easily access your previous conversation recordings. Thus, you can provide feedback to the team and easily adapt to new members.||It can make mistakes while converting speech to the text|
|By following the analysis of your conversations, you can take the relationship with the user one step further at a time.||Insufficient in categorizing recorded conversations. This can cause problems with filtering.|
|It helps you to organize your meetings systematically.|
Gong does not give pricing information to the public.
By filling out the form, you can request demos from representatives and get price offers.
Clari is a sales analytics software designed to help you with all kinds of monitoring, analysis, forecasting operations on revenue.
The tool, which makes it very easy for you to analyze the chances you can get on revenue and the risks posed by your current situation, also allows you to monitor your current revenue network in detail.
- Segmentation options for your data
- Live Pipeline Management
- Forecasting tools
- Interactive Dashboards
- Various data exporting options
Clari provides integration with platforms such as Showpad, Salesforce, Microsoft, Google, Highspot.
It allows you to pour data from many channels into a single cluster.
You can check out all the integration options here.
Pros and Cons
|Its user-friendly interface provides fast adaptation to all kinds of users.||Because it’s Revenue-focused, it misses some metrics that appeal to the entire sales area.|
|Because it is focused on revenue, it offers reliable predictions about it.||Dashboard and reporting customization options are limited.|
|It has a structure that makes it easy to monitor pipeline activity.|
Clari does not make price information publicly available on its website. You can get price information by contacting the team.
Chorus.ai is a sales analytics tool that accompanies you in all communication opportunities with the user and aims to analyze what it has recorded during this communication process.
Thanks to these analyzes, it creates feedback that will feed your team. at the same time, it automatically provides a record of information for the team, which, when performed manually, would require taking notes of tens of pages.
- Recording of your meetings
- Call Analysis
- Converting speech to text
- Materials that will help you to improve your team with your meetings
- Feedbacks created by AI
It provides integration support to many platforms such as Zoom, Google Meet, Highfive, Hubspot, Salesforce, and more.
Pros and Cons
|Easily organizing and sharing conversation recordings.||Sometimes it can cause problems in integrating into your conversation.|
|Regularly taking the team one step further with detailed feedback.||The analytics metrics it uses can be confusing|
|Minimizing the learning process while joining the team by analyzing old records.|
There is no price chart offered by the company for Chorus.ai. Prices can be learned by contacting the company.
The pricing policy works as a usage-based fee added on top of a basic price.
Groove is a sales engagement platform that allows you to follow your entire sales organization on a single platform and take action based on your observations.
This platform offers advanced customization and monitoring services so that you can control all of your sales activities and increase your efficiency. It also trusts itself in the fields of security and flexibility.
- Automation tools in the sales area
- Personalized E-mails
- Account-based engagement
- Reporting and analysis tools
- Meeting scheduling and calendar synchronization tools
While it offers integration with platforms such as Google Calendar, LinkedIn, and Sales Navigator, and more, it offers a much more comprehensive partnership with Salesforce.
Pros and Cons
|With its sales analytics capabilities, you can get real-time sales insights and take action accordingly.||Sometimes it slows down and becomes laggy, which leads to a waste of time.|
|Efficient and detailed campaign management options||Especially when a large number of users are added, user management can become quite difficult.|
|Easy and successful mail, calendar, and Activity Tracking|
Groove does not publicly publish its pricing policy. However, you can get a quote by contacting the company.
Sales analytics tools are tools that enable companies that want to advance competitively in the field of sales to perform data collection, analysis, and action in the fastest and most efficient way.
Each firm can benefit from these tools that specialize in different areas of sales analytics in line with their unique requirements and needs.
When you choose the right tool according to your budget and your needs, you can see that you make a difference in the sector, and you can realize that you organize your internal structure more accurately and efficiently.
Analytics makes a great contribution to sales in areas such as user analysis, tracking revenue, future forecasts, and department performance.
Sales analytics saves manpower and time by easily analyzing many metrics that are difficult to calculate and report manually.
At the same time, it allows creating the most efficient strategies for the company by minimizing the margin of error.