Sales tracking tools have become a necessity for most businesses wishing to remain competitive within their industry. A sales tracking system that accurately forecasts sales is worth the investment, as accurate forecasts of sales have a huge impact on your business' bottom line. The pricing and costs of sales tracking and reporting solutions vary widely and will largely depend on your industry and your company's specific needs. However, the pricing and costs of sales tracking and reporting solutions doesn’t have to break your budget.

Many larger corporations hire statisticians and form departments dedicated to sales tracking and reporting, however experts say this isn’t necessary for most small to mid-sized businesses. Research has shown that smaller businesses can be very successful at tracking their own sales and making accurate forecasts, as owners and managers usually have an intimate knowledge of their history, product or service. Today there are more tools than ever to help businesses track sales and here’s a break down of what's out there along with the cost:

1. Sales tracking software costs anywhere from $50 to several hundreds.

2. Web-based sales tracking solution is about $10 to $100 per month.

3. Customized sales tracking and reporting solutions can cost thousands of dollars.

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Find a low cost sales tracking system, if it fits your company's needs

The cost of the sales tracking solution you use will really depend on what you need. If you have a sales team that simply needs to manage a client base, track sales and generate basic reports, consider a low cost sales reporting application. This solution typically prices between $50 and $500.

I recommend: Prophet sales tracking software from Avidian Technologies actually converts Microsoft Outlook into a management and sales tracking solution. Affiliate Trail is another great choice that’s highly scalable and even offers a 30 day money back guarantee.

Consider a web-based sales tracking system

If your business not only needs a way to manage clients and sales, but also needs basic forecasting features, consider a web-based solution. Although this will cost more over time than buying software outright, companies offering web-based sales tracking and reporting solutions will often generate automated graphs and charts so you can better use and interpret the data. Fees are usually done on a monthly basis and range from less than $50 per month to several hundred dollars per month.

I recommend: PipelineDeals offers tracking and forecasts that have a wide variety of applications across a broad spectrum of industries, starting at $15 per month. AppShore is a cost-effective, easy to use online tracking solution that starts at as little as $11 per user per month. It also offers a customizable premium edition, starting at $19.

Consider a costlier customized sales tracking system, if it's best for your business

If your business' success is highly dependent or directly related to accurate forecasts, detailed and meticulous data, and well researched ad campaigns, then a customized sales tracking system is worth the investment. Costs here vary tremendously, from several hundreds of dollars to several thousands, and is usually dependent on the expertise and experience of the company providing the tracking. You should find an expert that works with your specific industry.

I recommend: CallSource offers an extensive telephone tracking service to capture information from each call so you obtain more information for marketing uses. Keystroke Point of Sale software from Specialized Business Solutions is a highly customizable sales tracking solution specifically intended to track sales for wholesale, retail and service businesses.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  When using sales reporting software, make sure that it fits with your industry needs or at least has some degree of ability to be customized to meet your company's individual goals. There are many sales software choices that takes an ineffective 'one-size fits all approach.'

Sales tracking and reporting does more than just let you analyze your past sales efforts. With sales and customer tracking tools, you can strengthen customer relationships, improve responses to customer queries and build loyalty — and that usually adds up to increased sales.

Sales tracking software and systems help you manage and analyze sales data to spot trends that can lead to better results. Plus, sales tracking systems automate many tasks for salespeople, giving them more time to concentrate on selling rather than shuffling paperwork.

Sales tracking strategies and tools include:

1. Sales tracking software for sales force automation.
2. Sales and customer tracking tools that improve lead generation.
3. Sales tracking and reporting systems that let you analyze customer characteristics and buying habits.
4. Turning to consultants to set up sales tracking and reporting systems.

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Find sales tracking software to increase efficiencies and reduce costs

Generally referred to as customer relationship management (CRM) software or sales force automation (SFA) tools, sales tracking software helps businesses collect and analyze valuable data, such as customer contacts and purchase history, maintain profiles of customer preferences, improve communication channels, and identify new sales opportunities.

I recommend: Intuit’s QuickBase is a comprehensive management system for sales tracking and reporting. ACT! is a popular customer management software solution that offers sales tracking and reporting solutions. Find additional CRM products for small businesses at the Small Business CRM Directory.

Consider cutting edge industry standards for enterprise level sales tracking systems

Industry-standard features for sales tracking and reporting systems at the enterprise level include a contact manager to track leads; a database of information regarding different vertical industries, competitors and products; forecasting modules; localization support for international customers; and support for mobile devices.

I recommend: Microsoft Dynamics CRM and Sage CRM are leading enterprise level sales tracking systems.

Locate essential sales tracking and reporting features for small business

At a minimum, the most basic sales tracking and reporting systems should have a contact database for lead generation, the ability to manage a group of related contacts at one customer, reporting and analytic capabilities and a report writer for standardized reports.

I recommend: Legrand Software offers industry respected sales tracking systems for small business. Surado Solutions small business sales and customer tracking tools are also a solid, cost-efficient option. A directory of sales tracking vendors for small business can also be found in the CRM software listings at Business.com.

Web-based sales and customer tracking tools offer a cost efficient alternative

Following the trend of many other applications, sales and customer tracking tools are increasingly being offered as software as a service or on-demand web applications. This means that you can access them through a web browser, making them more affordable, easier to implement and simpler to maintain.

I recommend: Salesforce.com is a leading provider of web-based sales tracking systems. SalesInSync offers web-based sales lead management and contact management software. Large enterprise providers such as Oracle and SAP are now offering web-based solutions.

Augment sales tracking and reporting systems with consulting services

Consultants can help you find and implement the best sales tracking systems for your business.

I recommend: CRM Consultants Inc. offers a broad range of consulting services for sales tracking and reporting. Salesforce.com offers a list of recommended consulting partners.

Sales tracking and reporting for call centers and phone sales

Sales tracking systems for inside sales teams and call centers include built-in automatic dialer, call recording, lead tracking and more.

I recommend: VanillaSoft offers an online demo and a 30-day free trial of its sales tracking systems for phone sales.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Automating sales tracking and reporting is only the first step; implement sound strategies for analyzing the data and acting on it accordingly.
• •  Don't let leads pile up in your inbox. Allow plenty of sales tracking time to move through an entire batch of leads without interruption.
• •  Choose sales tracking software vendors that provide either web-based or in-house training.

Sales tracking tools serve some very useful purposes. For one, a sales tracking system can help sales professionals keep up with all of their clients by maintaining good follow up, which can lead to referrals which leads to more sales. Secondly, a sales tracking program can help monitor the types and amounts of sales made by a company, so that company can forecast and predict future sales. Lastly, marketing departments can use the data from sales reporting tools to design more effective ad campaigns.

Today, there are several means of obtaining and using supplies for sales tracking and reporting. Sales tracking software is a great in house solution for businesses. Many companies also offer web-based sales tracking and reporting solutions. Several companies even offer customizable customer tracking software or consultations. However, whichever way you choose to track your business' sales, consider these important general tips when buying supplies for sales tracking and reporting:

1. Make sure you fully train everyone using the sales tracking system on how to use it.

2. Ensure that all employees keep data up to date for the most accurate forecasts.

3. Use the same sales reporting software with all your employees to streamline the sales tracking process.

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Choose sales report software for an in house solution

If you have a sales team with several members who each have their own client base, consider sales tracking software. A software program can help each member of your sales team manage their client list, leading to better, more timely follow up and a greater number of referrals.

I recommend: ACT! sales reporting software from Sage Software has been around for quite some time and is well liked. It allows users to set alarm reminders on a calendar that filters in client contact information. Goldmine software from First Direct is also a good option and allows users to integrate the software with other applications such as Microsoft Office and Outlook.

Choose a web-based sales reporting solution

Using a web-based solution has its perks, because often the tracking company will provide you with automated reports, graphs, charts and forecasts allowing you to use and better interpret the data you input.

I recommend: Sales Performance Group provides a web-based solution that is flexible and works well with a wide variety of applications and over a broad spectrum of industries. SalesForce.com is also a good choice as it comes with many options and is the current leader in web-based sales tracking.

Consider a customized sales tracking program

If your business has a sizable client base or its success is highly dependent on accurate forecasts, you'll want to consider a customized solution.

I recommend: GfK Audits & Surveys offers customized sales reporting and this includes an extensive layout of charts and graphs specific to your company. Consider Prophet Report Manager software from Avidian Technologies. This sales reporting software for Outlook has 30 pre-built reports, plus an easy to use wizard for creating your own customized reports.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  When considering companies that offer sales tracking and reporting solutions, look to the company's past record to see if they've worked with your industry before. Previous experience within your specific industry will enhance a company's ability to best track your business' sales.

Keeping track of your sales and customer information is an important opportunity to expand your business. Putting together great sales tracking and reporting information is an important part of any sales design. Before purchasing tracking software or starting your sales analysis, you'll want to get informed.

Learn a few key words associated with tracking and reporting such as funnel tracking and ambush marketing. You'll find the tracking and reporting process much smoother after reviewing the terms you'll come across.

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Features advantages benefits

Features advantages beneftis, or FABs, describe why a product is advantageous to a customer. An FAB is put together to show a products description and benefits as part of a sales projection.

I recommend: Businessballs.com defines features advantages benefits in the glossary of sales terms as part of a series on sales training.

Funnel tracking

Funnel tracking is a method used to figure out when customers will lose interest in a product. The process looks for problem areas in a sales report to identify what causes the customer to leave the buying process.

I recommend: Funnel tracking is defined at Lyris HQ. The company provides a number of marketing resources including sales tracking solutions.

Ambush marketing

Ambush marketing refers to the use of a product during an event or with other brand products without permission. The process usually happens when a company doesn not want to spend money on an event sponsorship or has already been beaten to the sponsorship by another brand.

I recommend: Wisegeek discusses the ambush marketing technique.

Sales automation

Sales automation is usually included as part of a sales and tracking software program. Managers are able to track the sales cycle, create sales leads, follow-up reminders, sales data projections and much more in a sales automation system.

I recommend: The sales automation software is explained at Surado CRM. The manufacturers of small business software solutions.

Lead

Lead is a basic sales term referring to information of a potential customer. The customer, or prospect as sometimes refered to, can be found through referrals, advertising or other means.

I recommend: BusinessDictionary.com includes the definition of lead along with other sales terms.

Sales cycle

The sales cycle is the basic time line between contacting a lead and selling an item. Other terms meaning the same thing include sales process and sales gestation period.

I recommend: Read the definition of sales cycle at Salesopedia.com. The glossary of terms includes many other sales tracking and reporting key terms.