Analysing sales performance is one of the most important activities carried out by a company. Sales performance tells the management and the team if they are performing as expected. Have they met the targets? Have they crossed the targets? Could they have performed better? Are there days that they performed better and days that the performance went down? What was the reason behind the good performance and poor performance? Can these factors be controlled? How to reach optimal sales performance?
Sales is analysed on a monthly basis and sometimes on a daily or a weekly basis. Sales figures are crucial for the growth of an insurance company. The sales reports generated from the CRM helps with the sales analysis.
Why are sales figures so important?
Every insurance company employee knows the importance of sales figures. No one needs to explain the reason. Every insurance company is geared towards driving sales. Sales are the basis on which an insurance company generates its revenue. Higher sales mean higher revenue. Poor sales mean lower revenue. There is a certain minimum sales level which has to be met for breakeven. It is a certain income level, which helps the business to stay afloat by covering the expenses and salaries.
Daily, weekly and monthly sales reports can easily be calculated by the MS Dynamics CRM. You can have a variety of different types of reports. Sales is not just about the sale itself. A sale begins with seeking opportunity; this can be in the form of leads or referrals. The Microsoft Dynamics CRM can assimilate and sort data based on its importance and category. It can generate daily report of sales and leads.
Forecasting insurance sales
It is easy for a company to assimilate their performance and how much they have earned but this is not enough. A business needs to have a rough idea of how much they are going to earn. Forecasting sales is no child’s play. It involves studying the environment, setting targets, revamping the sales team and proceeding forward with a strategy. Marketing strategy greatly impacts the sales performance.
How does Dynamics CRM impact forecasting
Microsoft Dynamics can be used to generate a sales forecast based on previous sales performance. The sales expectations can be altered based on marketing strategy, sales team size, current market trends and various other influencing factors.
Capitalising on media and news highlighted events can help insurance sales. Natural disasters and other disasters can be used to promote insurance sales as a precautionary measure. The current wave of fear does make potential customers more vulnerable and help increase sale of insurance policies.
Acquiring Microsoft Dynamics
To get Microsoft Dynamics get in touch with Pragmasys, the Microsoft Gold Partner. Pragmasys has a pre-customised version of MS Dynamics called Pragmassurance. This software system has already been prepared to meet the needs of the insurance industry. The tables, entry forms and reports have been preformatted. With Pragmassurance you can start using the Dynamics system almost immediately. It eliminated the time delay usually taken for system customisation. You existing data can be migrated into the tables with minor changes and the system is ready to use.