A Case Study on Improving Sales Efficiency and Revenue Growth in the Plywood Industry
The case study will utilize one and one interviews, surveys, Q&A sessions, and sales data analysis to examine the impact of sales automation tools on a plywood company and gain insights into the changes brought about by automation tools. Additionally, the company's sales data will be examined to evaluate the effectiveness of the automation tools in enhancing sales performance. The case study will also explore the sales process to identify areas for sales automation technologies to improve customer satisfaction and buying experience.
The Client Introduction
In the fiscal years 2021–22, the plywood industry had a value of INR 195.8 billion. The market is predicted by IMARC Group to grow at a 7.4% CAGR from 2022–2027–28, reaching INR 297.2 billion by that time.
However, the industry also faces several challenges such as increasing competition, fluctuating raw material prices, environmental regulations, changing customer preferences, etc. Therefore, plywood companies need to adopt effective and efficient sales processes that can help them gain a competitive edge and increase their profitability.
The purpose of this case study is to analyze the sales process of thriving plywood companies. We have conducted interviews with key stakeholders such as sales managers, sales representatives, and customers of different plywood companies to understand their perspectives and experiences regarding the sales process.
By conducting this case study, we hope to provide valuable insights into the strengths and weaknesses of these companies' sales processes and how TrackOlap's sale automation solutions can bring answers to their pain points.
After several interviews, we found that those companies' sales team was struggling to keep track of leads, follow-ups, and customer information manually, leading to missed opportunities and inefficiencies in the sales process.
We found their sales team has been relying on manual processes to manage sales activities, including tracking leads, follow-ups, and customer information. The manual process has several challenges, including:
Lack of visibility into sales activities:
The sales team does not have a centralized system to track their sales activities, making it difficult to monitor the sales process's progress.
Inefficient lead management:
The sales team faces challenges in managing leads, including identifying and prioritizing leads based on their potential to convert into customers.
The manual process makes it difficult to accurately track the lead pipeline, leading to missed opportunities and poor decision-making.
Integration with existing systems:
Most of the companies already had existing systems in place for managing customer information, such as an ERP or CRM system. Integrating new sales automation software with these systems could be challenging, and it may require significant IT resources and expertise.
Training and adoption:
They wanted a solution to automate their sales process to improve efficiency and increase revenue but didn't have the right resources and expertise. They believed implementing sales automation software requires the sales team to learn a new system and adopt new processes.
Furthermore, this could be challenging, especially for team members who are used to working with manual processes. Providing adequate training and support is critical to ensure the successful adoption of the new system.
Every company has unique sales processes and requirements. Implementing a one-size-fits-all sales automation solution may not meet all of the needs. Those companies required customization of the software to meet specific requirements, which can be challenging and may require additional resources.
The success of sales automation software relies heavily on the accuracy and completeness of the data entered into the system. Inaccurate or incomplete data can lead to poor decision-making and missed opportunities. Ensuring data quality can be challenging, and companies needed to implement data governance policies and procedures to maintain data accuracy and completeness.
Plywood Company Requirements
Plywood companies of any size today seek these essential solutions in their systems to thrive in a competitive era.
Plywood companies have faced continuous challenges in tracking the activities and performance of their field sales team. Without visibility into their activities, it can be challenging to manage and optimize their performance.
Sales automation software can help them monitor their field sales force activities such as geo-based attendance, live tracking, travel history, customer visits, check-in/out, etc. It can also provide easy-to-analyze dashboards and reports to measure productivity and performance.
Plywood companies are looking for a comprehensive lead management system that allows the sales team to track leads from the initial contact to conversion. The system can also allow the sales team to prioritize leads based on their potential to convert into customers, ensuring that they focus their efforts on high-potential leads.
Sales Pipeline Management:
A visual representation of the sales pipeline that'll allow their sales team to track opportunities as they move through different stages of the sales process. The sales pipeline feature enables the sales team to identify bottlenecks in the sales process, track progress, and forecast revenue.
Sales Performance Analytics:
Dynamic sales performance analytics can help the sales team understand their performance and identify areas for improvement. The analytics feature provides insights into metrics such as lead conversion rates, sales cycle length, and win rates. These insights can help the sales team optimize their sales process and improve their performance.
Automated Sales Reporting:
A solution that offers automated sales reporting, which saves time for the sales team by eliminating manual data entry and report generation. The reporting feature provides customizable reports on sales activity, lead management, and customer interactions.
Plywood companies are looking around for flexibility in sales automation solutions that will be available in a mobile app too, allowing the sales team to access their sales information and manage their sales activities from anywhere, at any time. The mobile access feature enables the sales team to be more responsive and productive, even when they are out of the office.
A solution that comes with strong data security and compliance by storing all the information on a cloud-based platform. We store all customer data securely in multiple world-renowned data centers and ensure that the network design prevents any unauthorized access.
Overall, these features can help plywood Companies with their sales automation efforts by providing a comprehensive set of tools for managing the entire sales process, from lead generation to customer management.
The features allow the sales team to work more efficiently, identify areas for improvement, and make informed decisions based on real-time data.
A Successful Solution —TrackOlap
For a decade, plywood companies were struggling to manage their sales & leads effectively. The sales team had limited visibility into their sales team and lead, and they were not able to prioritize leads effectively. As a result, the companies were missing out on potential opportunities.
However, after implementing TrackOlap, the sales team can able to manage leads and their field sales team more efficiently. They could track leads from the initial contact to conversion, and the system allowed them to prioritize leads based on their potential to convert into customers.
After implementing TrackOlap's sales automation solutions, the companies can witness various improvements in their sales process, including:
Improved Sales Efficiency:
By automating manual sales processes and providing tools for managing the entire sales process, TrackOlap helps companies improve sales efficiency. The sales team spends less time on administrative tasks and more time on selling activities, resulting in increased productivity and sales.
TrackOlap's GPS tracking feature allows sales managers to track the location and activities of their field sales team. They can also view their travel history and the distance covered for each day or month. This helps to improve visibility into their activities and monitor their performance in real-time.
Increased Sales Transparency:
The automated reporting feature provides real-time visibility into sales activities, allowing management to track performance and identify areas for improvement. This increases sales transparency and helps to foster a culture of accountability and collaboration among the sales team.
Furthermore, the reporting feature enables sales managers to generate accurate and timely sales reports. This allowed them to monitor sales performance, identify areas for improvement, and make data-driven decisions.
Improved Customer Relationships:
By centralizing customer information and providing tools for managing customer interactions, TrackOlap helps plywood companies improve customer relationships. The sales team can provide a more personalized and responsive customer experience, resulting in increased customer satisfaction and loyalty.
Improved Sales Productivity:
With GPS tracking, automated task assignment, and mobile access, the sales team can work more efficiently, reducing the time spent on administrative tasks and increasing the time spent on selling activities. This leads to improved sales productivity and increased revenue.
Better Sales Planning:
With real-time visibility into the location and activities of the field sales team, sales managers can plan sales activities more effectively. They can assign tasks based on the location of the salesperson, reducing travel time and improving efficiency.
Overall, these results demonstrate the value that TrackOlap provides to plywood companies in their sales automation efforts.
By improving sales efficiency, forecasting accuracy, sales transparency, and customer relationships, we help companies to achieve their sales goals and position themselves for future growth.
A One-Stop Solution
We offer a one-stop solution for all of the plywood companies to manage all of their sales and lead. With our user-friendly, intuitive mobile-friendly software that can be operated at any place. Our dynamic tool-kit includes:
- Time tracking
- Real-time location tracking
- Dashboard analysis
- Task management
- Lead scoring
- Customized form and more