As repositories for client data, CRMs can help sales personalize customer interactions and anticipate customer needs.
But businesses also use other tools — ERPs, marketing automation systems, and other SaaS applications — to help teams besides sales stay in contact with the consumer.
Lately, SaaS adoption has undergone an upward trend. Today, the average company pays for 20 times more SaaS subscriptions than they did five years ago, and uses three times more free SaaS products than paid apps. By 2020, SaaS spending is predicted to double.
On the one hand, this widespread use of SaaS software is good. Teams — sales especially — have the right tools to do various jobs well. Most of the tools are easy to adopt and use, updated remotely, and many free to try. And so year-over-year SaaS spend has increased across all departments, including customer support, finance, engineering, HR, and marketing.
Still, left unchecked, SaaS can complicate workflows between departments. Such misalignment can cost sales valuable deals. Hence why 73% of sales teams say collaborating across departments is absolutely critical to their sales process.
This unity of customer data is especially important for SMBs. As a company grows from the 1-10 range to the 251-1000 range, it spends 25x more on sales apps.
This means SMBs can't afford to measure their sales performance out of a CRM, since CRMs like Salesforce aren't BI tools built for reporting.
Nor are sales CRMs a single source of truth for all customer data. For if the marketing team uses inbound lead generation with a product like HubSpot, as well as other applications for operations and analysis, customer data get scattered to the wind. And when businesses use dozens of SaaS based tools to drive demand for sales, this causes data silos which prevent a 360-degree view of customers and prospects, both of which are critical for more targeted, data-driven campaigns and offers.
The good news is that by unifying data from CRMs, marketing automation systems, ERPs, and other SaaS applications, organizations can provide teams with a single view of the customer. Information and insights once useful to just one team, like sales, can be leveraged by another, such as marketing or finance.
With knowledge sharing of SaaS data, businesses can mitigate the number of missed opportunities, increase sales velocity (a measurement of how fast you're making money), cut down on redundant communications, and whittle away needless spending. All of which opens your company up to growth.
So, how do you unify SaaS data to boost sales?
Just like marketing needs to have a 360 degree view of the customer, sales needs to understand how their funnels are performing. And to know how well the sales machine is working from an analytics standpoint, you need something that brings all your data into one place so you can hook it up to business intelligence tools like Tableau, Looker, and Power BI.
That something is a data warehouse called Fusion.
Fusion unifies customer data across multiple cloud applications. It lets you connect your SaaS applications, then matches, maps, and merges every major object (contacts, accounts, opportunities, etc.) into a “Fused Database”, where formats are standardized and many data models transformed into a single schema.
At the push of a button, Fusion gives your sales team a SQL warehouse, populated with all the data from your SaaS applications, and automatically kept up-to-date. Data refresh every 30 minutes, granting you quick access to accurate data in your sales dashboards.
Unifying SaaS data into a data warehouse allows sales to generate insights from data, trends, and metrics to set targets and forecast future sales performance. Sales can relate activities to determine revenue outcomes, over both the short- and long-term. So if you set a revenue target for your sales director while setting a sales productivity goal for your account management team, you could track both of these over time and see how they relate to order fulfillment and invoicing data in SaaS applications like Quickbooks or NetSuite.
With Fusion, you can track metrics such as:
- Sales growth
- Revenue recognition
- Sales targets
- Deal size
- Win rate
- Sales cycle duration
- Sales to date
- Product performance
- Lead conversion rate
- Sell-through rate
- Quote-to-close metrics
- Sales per rep
- Sales by region
- Sales velocity
- And more
Want to unify your SaaS data to boost sales? You can create a SQL warehouse in just a couple clicks and try it for 14 days, totally free.