CEO @ Wave Growth
CEO @ Wave Growth
5 Tips to Boost Your Sales Team’s Conversion Rates Without Demanding More Hours
5 Tips to Boost Your Sales Team’s Conversion Rates Without Demanding More Hours.
Everyone wants to have the most efficient sales team possible. According to a 2017 study conducted by The Bridge Group, 49% of businesses surveyed stated that improving sales performance was their greatest organizational challenge.
The same survey noted that the average sales rep works 49.6 hours per week, suggesting that time commitment is not necessarily the issue.
So, what are the ways that sales managers can boost the productivity of their teams without demanding more hours (which may not be the problem)?
Ensure that Your ICP is Well-Defined and Up-To-Date.
Is your Ideal Client Profile specific enough to keep your salespeople on the right track? Does it include the size of the prospect company and the organization’s purchasing cycle? Is location a factor?
It’s important to make sure that your salespeople are spending time on the right leads and not wasting time with the wrong ones.
Assess The Quality of Your Leads
It usually takes months, and tens of thousands of dollars to complete the on-boarding process after hiring a salesperson. A recent study from Aberdeen concluded that, despite the high cost associated with on-boarding, almost 87% of the information imparted during this process is forgotten within weeks.
It is critical that every member of your sales team is able to articulate your value proposition, cite your case studies, engage with prospects using your methodologies and complete sales activities to your standards.
To ensure this, you should maintain a consistent assessment, training and coaching program that reinforces the information and skills learned during the on-boarding process.
A good training program will also allow time for you to introduce new methods and ideas without disrupting your team’s established routines, and provide extra help for salespeople who are experiencing difficulty.
Update Your Technology
For your sales team to remain competitive, they need the right tools. New CRM systems are introduced all the time that offer improved task automation, event triggers, lead tracking and lead nurturing capabilities.
These systems have made a measurable impact on the sales industry, with 80% of the companies surveyed in a Sugar Tech Report stating that they now use CRM applications to increase sales efficiency and that their spending on such solutions doubled between 2012 and 2017.
It’s important to remember that your sales prospects are receiving hundreds of emails and calls every day, and some percentage of those are from your competitors. If you don’t have the right technology, you are forfeiting your opportunities to sales teams that do.
Track & Measure Sales Activities: Identify Coaching Opportunities
If you do already have the right technology in place, it should allow you to track the activities of your sales team and identify problem areas.
Going back to the point about maintaining consistent training programs, you should be providing feedback and individualized coaching based on performance monitoring.
If a salesperson isn’t reaching his or her goals and isn’t completing the number of activities required to meet those goals, then you can narrow the inefficiencies of the team down to the pieces of the process that aren’t being done.
Are the members of your sales team following up on leads who may not have had an immediate interest in the products they are selling?
They may not be and that’s a surprisingly common problem in the B2B sales industry; 48% of salespeople fail to follow up with prospects who do not express a need for their products when contacted for the first time.
Nurturing leads is an effective way to close sales in the longer term, as prospects are more inclined to trust salespeople who follow-up.
Be sure that the members of your sales team are keeping up with prospects who have potential.
Have additional tips for how to keep sales teams running at their peak? Share your stories in the comments. We love to hear from you.