Creating a sales team and managing the sales process is not easy, especially if you try to be wise about your budget and other resources, such as stuff, and time. But you can still reach maximum results even with limited assets. And it doesn’t matter what industry you represent, or how old your company is. You just need to optimize your sales process. In this post, we’ll give you some optimization tips that will help your sales department become more effective. Keep reading!
Choose KPIs wisely
Monitoring too much data is equally bad for your sales process as monitoring too little of it. Many sales teams get caught up in these extremes. As experience shows, both are detrimental for business, so it is fundamental that you find a happy medium and select a limited number of KPIs (key performance indicators). The metrics that you’ll choose to pursue must reflect the performance of critical areas in your business. Normally, you don’t need to follow more than 20 KPIs to obtain a comprehensive picture. At the same time, by choosing less than 10 metrics, you won’t have enough data. Therefore, essential information is pretty easy to get but you need to know what you are looking for.
Get your team on the same page
Very often, people in the same sales team pursue different metrics. For example, customer success representatives may focus on customer happiness score, whereas outbound agents may concentrate on connect rates. As a result, the sales teams don’t have a single metrics, and in a situation when everybody follows their own agenda, it’s very difficult to preserve a shared vision. To prevent this from happening, single out one metric for a certain period that would reflect the team efforts and improve it. Then, select the next one, and the next one… Optimize them one by one until you address all inefficiencies. If you approach sales optimization from this perspective, you’ll be able to improve the work of your team on multiple levels.
Find holes in your sales funnel
It is vital to align KPIs with the sales pipeline in order to find possible gaps and address them. Say, if you know that it normally takes 4 months to convert 1 customer, your conversion rate is 1 in 3, and your goal is 3 new customers a month, you need to involve no less than 36 prospects in your funnel. If there’s a hole in your funnel at this stage, you won’t be able to achieve the desired result. That’s why it’s critical to inspect your sales funnel for gaps and inefficiencies. The earlier you spot the problem, the faster you’ll fix it.
Generate leads smartly
Oftentimes, sales professionals get so accustomed to some prospecting channels that they fail to see new opportunities. These days, generic ads, emails, and cold calls bring very few leads compared to the numbers that can be attracted via social media, surveys, trade shows, and even the existing customers. The most effective strategy is to combine all the resources available to get the best results. However, you need to know when it’s the right time to generate leads and when to expect the results of your work. Namely, if you increase lead generation efforts two times now, you’ll see the growth in sales in a year or so.
Use decent software
It can be so much easier to organize and keep track of all the sales efforts if you implement the right sales automation software. At present, it’s possible to find corresponding software for every stage of a sales cycle. It’s really important that you identify the needs of your sales team, and complement them with the right sales automation software. A well-crafted sales automation platform will organize customer information and enable your sales to establish a personalized contact with prospects, and help them do it at the right time and in the right way. For example, if you are into inside sales, a decent cold call software with a lead management is a must for closing more deals.
Your sales reps might be the hardest-working people on the planet, but their efforts will be in vain if you don’t organize a proper sales process or fail to optimize it from time to time. Use our tips to increase the efficiency of your business and you’ll be able to achieve some really impressive results.
The Value of Entrepreneurial Innovation to Convert Your Business Into a Brand
A common question that often pops up while starting a new business is:‘How much value will we place in turning this business into a brand?”If you are looking for ways to appeal to and reach out to several customers, then you need to find out the answer for thiscritical question.
The first step towards understanding the value of an entrepreneur to convert your business into a brand, is to understand the importance of branding. This process helps business owners to brand their products or services so that customers will remember them, and be attracted to buy from them again. Businesses have to be careful with this process, as it is often do-or-die in terms of retaining or losing their customers.
Branding takes time to accomplish because it requires a lot thought, effort and time from business owners. There are a few key elements to increase the value of converting your business into a brand. Leading entrepreneur Lewis Schenk has a unique strategy that is unseen in the current industry, which is integrating publication relations into branding and marketing strategies.
Who is Lewis Schenk?
Formerly an elite amateur/aspiring professional golfer, Lewis’s golfing dreams became more difficult when the covid-19 pandemic hit in January. With his plans put on hold without being able to play golf, he quickly pivoted with the help of one of his mentors. “I moved super quick when I knew the pandemic was about to hit. My plans got put on hold but I was fast to adapt” Lewis explains. Having journalism experience with projects he did in college in the USA, Lewis used his network to build his own agency, Boost Media Agency. Since then, he’s served over 150 clients, helping themto get featured in leading digital publications and become the most, known, liked & trusted in their industries.
Integrating PR & Branding
As a business owner, it is your job to ensure that you stand out in the market.You have to ensure that you will not waste precious advertising money in the start-up phases, by buildinga brand that has a high value to your audience – meaning more money and profits in the future. “As business owners, we cannot just jump into this process. It requires a lot of time, effort, guidance and money for this to be successful, and we have to be sure of our strategy before starting this process” Lewis explains. This is where Lewis shines, as he specializes in coming up with unique public relations strategies and ideas to ensure maximum growth for his clients.
A new business is a risky investment. There are many risks involved in setting up and running a new business, and one of these risks is the loss of your customers and losing your market value. A lack of strategy and experience is the new entrepreneur’s biggest downfall, as they spend all their money on pointless hacks and courses. Investing in public relations is the best form of advertising, as for one, its permanent. Rather than spend $200 on advertising that will run out on a week, spending $200 on a published article to a leading news site will yield results long term, as it remains permanently, meaning increased chances of more eyeballs seeing it over time. As a business owner, you must learn all you can about this process or consult with someone like Lewis who does, so that you know the value public relations to convert your business into a brand. With this knowledge and understanding, you can control your strategy, your business and your success.
Also,as business owners, we must use a strategic approach in our decision making. This strategic plan will help you to overlook the strengths and weaknesses of your business and how they can be turned around.A strategic approach also involves finding out what the strengths and weaknesses of your business are and implementing the appropriate changes to make your business more profitable. Evaluating your current business model to identify the strengths and weaknesses of it, can greatly improvethe company by making some tweaks and adjustments.
Ensuring that we don’t invest money and time in the wrong areas of our business, by shifting the focus towards branding and public relations in marketing strategies, will ensure far greater business success.A business without publicity has no potential for expansion. If you have no courage and time to take these steps for your own business, then you realize the value of hiring a professional entrepreneur such as Lewis Schenk, to convert your business into a brand.