As a sales leader in B2B organization, your top priority should be to improve sales productivity. Minimize the usage of resources and maximize the revenue. Well, in theory it sounds conflicting because at times you might have felt the need to expend more on your resources to get bigger deals into the sales funnel. However, in reality you don’t have to splurge and stretch your budget, if you fix few things along the sales cycle.
So, here is how you can improve your sales productivity:
How much time each rep invests in selling? How many meetings do they attend? Are all meetings important for all the reps to attend? How many inbound calls get missed and why? Are there easy and cheap tools available to substitute for manual admin work?
After you get answer to these questions and other questions that follow, you will know how to allocate sales reps and their time. Hence, work on assessing the sales process to remove the roadblocks.
Who updates the marketing materials and personalizes the email content?
That’s not the job of your sales reps if marketing team exists in your organization. Let the sales reps brief the marketing about the needs and requirements of the prospects. Based on this feedback marketing will know what kind of content would be appropriate for a particular sales rep’s needs. This is one area you can work on with your sales and marketing departments to improve productivity. Edited and updated content will have powerful impact by getting strong, qualified and filtered leads for the sales reps.
How many times sales reps have interacted with particular prospects? Or with various stakeholders in that account? How long was the sales cycle? What is history of the customer? Why did a customer leave? What were the various interactions?
Obviously, a sales rep will not remember every detail and every piece of history associated with a prospect- lost or won. So, investing in CRM is the right thing to do as it cuts down on manual and admin work. Besides you have access to historical data at any given point of time. Implementing CRM and CRM training for your sales reps are one time job. There are plethora of CRM tools in the market, most of which are web based and can be accessed from anywhere.
Do you listen to the recorded conversation between your sales reps and prospects?
If not, start doing it. This is an effective way to train and give feedback to your subordinates. However, don’t overtrain or waste too much time in training.
How do you gauge the interest of your prospect? How does your sales reps prioritize their leads? When is the right time to call or mail them? How do you know if the stakeholder on other side has read your mail or not?
Data has answer to all these questions. Use of data saves you from doing guess work and takes your business to new heights.