Analytical Skills for Sales Professionals

Of all the essential skills, analytical skills are my personal favorite. As I often say, if you are a mid or senior-level manager, analytical thinking is not optional. In fact, it is something you use every single day. So, sales executives, if you aspire to move into management, start sharpening your analytical skills now.

Evaluating key business areas is not a once-in-a-while exercise; it is part of your daily routine. Let me kick off this post with an interesting real-life story.

The Story of Shifting Power

Back in my old job, we had this guy named Rahul who was a total rockstar. I still get chills just thinking about him. Rahul was hands down the best options trader and sales guy around. His way with words, killer presentation skills, and charm were off the charts.

Everyone who heard him speak couldn’t help but be in awe and want to be just like him. Plus, Rahul was young, good-looking, and had that special something that made everyone in the company look up to him. He was all about quality, class, and being a leader. And when it came to sales, he was the king. Rahul set records that no one else could touch while running the show in the premium products division.

Then there was Farrukh, who was quite different from Rahul. Farrukh didn’t have the same polished appearance or exceptional presentation skills. His long beard and loud demeanour often made the younger sales team members feel intimidated, and he wasn’t exactly the most popular guy around.

His reserved nature was nothing compared to Rahul’s dynamic presence. But when the pandemic hit, everything turned upside down. With in-person sales presentations no longer an option, the company had to switch gears to digital webinars, completely changing the sales game.

Rahul faced a big challenge when everything went virtual. His strong suit, presenting, just didn’t have the same impact online. As lockdowns became the norm, he struggled to adjust and didn’t realize how important analytical skills were in this new situation.

It took him a while to figure out why sales were dropping and even longer to come up with a plan to turn things around.

On the other hand, Farrukh saw a silver lining in the crisis. His analytical skills were top-notch, and he quickly adapted to the changes happening around him. He held tons of meetings with different teams in the company, like MIS, sales, training, and administration, to figure out the best way forward.

By digging into the data and working together, he found areas that needed improvement and made the necessary changes to the sales process, webinars, and class quality to keep customers happy.

As Farrukh started to see results from his hard work, the dynamics of power began to change. The retail division he led started to outshine Rahul’s premium division, which was unexpected by everyone. Rahul’s once dominant presence started to fade, while Farrukh’s influence continued to rise.

Eventually, Rahul decided to pursue his own entrepreneurial path after facing some setbacks, and Farrukh was chosen to lead both divisions.

I always thought Farrukh wasn’t the best salesperson; many of us, myself included, had better sales skills. However, his analytical abilities were unmatched. Even a certified business analyst would struggle to match his level of insight.

Farrukh’s talent for steering the organization through tough times showed just how important analytical skills are for advancing in your career.

If I ever become a business analyst, I’ll owe a lot of my success to Farrukh for teaching me the true power of analysis.

Why Analysis is Essential for Sales Excellence

In today’s fast-paced sales world, relying solely on gut feelings just won’t cut it. Having strong analytical skills is key because they allow sales professionals to make decisions based on data, which can improve efficiency and results.

As per Vikas, if you think sales is not just about convincing people to buy, then you have got it all wrong. Sales is about understanding who is likely to buy, why they would buy, and when they might be ready to make a purchase.

Farrukh’s story proves the importance of analysis. By analyzing data, you can uncover hidden patterns, pinpoint the most profitable customer groups, and gain insights into what strategies are effective and which ones aren’t.

For instance, a salesperson who regularly reviews customer feedback can adjust their pitch to better address common issues. Keeping an eye on market trends helps them stay ahead of the competition, and analyzing their own sales data helps them identify areas for improvement.

Ultimately, having strong analytical skills lays the groundwork for making strategic decisions that lead to long-term success in sales.

Different Kinds of Analysis for Sales Professionals

Sales professionals have a lot to gain from different types of analysis, each with its own purpose:

a. Customer Analysis 

This involves looking at customer behavior, preferences, buying habits, and feedback. Knowing what makes a customer tick can help salespeople create personalized pitches that really hit the mark.

For instance, checking out how clients in different income brackets shop can show which products or services they’re into. This makes marketing efforts more focused.

b. Competitor Analysis

By checking out what the competition is up to, sales pros can spot gaps in the market and fine-tune their unique selling points. This kind of analysis includes looking at competitors’ prices, sales strategies, and product features.

Reading customer reviews of rival products can also shed light on what customers love or hate, giving you a chance to set your own offerings apart.

c. Sales Data Analysis

Analyzing important sales data, like conversion rates, lead response times, and customer acquisition costs, can help pinpoint where the sales process is getting stuck.

By regularly checking these metrics, sales professionals can tweak their strategies on the fly for better outcomes.

For example, if the data reveals that conversions are low during the proposal stage, a salesperson could update the proposal format or add more persuasive case studies.

d. Market Trend Analysis

Staying on top of industry trends allows sales professionals to predict shifts in customer preferences and get ready for them.

This kind of analysis might involve keeping an eye on economic indicators, regulatory changes, or technological advancements that could impact demand for a product or service.

Understanding trends helps sales teams adjust their strategies proactively instead of scrambling to react to changes after they’ve already hit the business.

e. Win-Loss Analysis

Analyzing why deals were won or lost is key to improving future sales success. By understanding the reasons behind both successful and unsuccessful sales, professionals can adjust their strategies and increase their chances of closing deals in the future.

How to develop analytical skills 

Improving analytical skills is an ongoing process, but with some effort, sales professionals can see big improvements. Here’s how to do it:

a. Get Comfortable with Data

Salespeople should get familiar with basic data analysis tools like Excel, Google Sheets, or CRM software. Knowing how to use these tools to create reports and visualize data can make analysis easier.

Regularly check sales reports and dashboards to identify trends, outliers, and areas for improvement.

Regularly check sales reports and dashboards to identify trends, outliers, and areas for improvement.

b. Ask the Right Questions

Analytical thinking starts with asking the right questions. Instead of just accepting a sales outcome, ask why it happened.

For example, if a deal was lost, was it because of pricing, competition, or not meeting the customer’s needs? Asking why helps uncover the root cause of sales results.

c. Embrace Continuous Learning

Sales professionals should invest in learning opportunities that improve their analytical skills, like online courses on data analysis, workshops, or books on sales analytics.

Ongoing education helps keep up with the latest analytical techniques and tools.

d. Utilize CRM Systems Effectively

Nowadays, CRM systems come with cool analytics tools that can track customer interactions, sales activities, and deal progression.

By learning how to use CRM data to understand customer behavior and sales pipeline health, you can make better decisions.

e. Develop a Habit of Reflection

After making a sale, it’s important to take a moment to think about what went well and what didn’t. Reflecting on each sales interaction helps you spot patterns and adjust your strategies.

This could mean changing how you handle objections or rethinking which prospects to focus on.

f. Learn from Experienced Analysts

Watching how experienced colleagues or sales leaders use data to make decisions can teach you a lot.

By joining discussions where data is analyzed and applied to sales strategies, you can learn how to think analytically.

Conclusion:

Mastering analytical skills is a must-have for sales professionals in today’s world. Take Farrukh’s story, for example – he shows us how analysis can turn raw data into useful insights that boost performance.

By using analysis, salespeople can tackle their roles strategically, making decisions based on data that improve every step of the sales process.

There are various types of analysis that can help sales professionals understand the market and their own sales abilities better. From studying customers and competitors to reviewing wins and losses, analysis is key.

To develop these skills, you need to learn how to work with data, ask the right questions, and regularly evaluate your performance.

In the end, having strong analytical skills allows sales professionals to sell not just harder, but smarter. This sets the stage for long-term growth & success.

This was Skill #5 in our 9-part series on essential sales skills. We will meet next week with another essential sales skill. Until then, keep practising and keep selling with Sanskar.

For more insights on sales, marketing, and professional growth, visit AsPerVikas.

As per Vikas

Hi, I’m Vikas Taware. After years of hands-on experience in sales and marketing, I felt a strong pull to share the strategies I’ve mastered, the setbacks I’ve overcome, and the wins that shaped my journey. That led to AsPerVikas—a blog where I cut through the noise and share real, field-tested insights to help you sell smarter, market better, and grow faster.