Businesses use various strategies to improve sales productivity. It is one of those gears that propel your business towards growth. Improving sales productivity helps you to increase conversion rates. But salespeople find it difficult to improve sales performance. Sales folks are often busy with too many things on their plate. They generate their own leads, call prospects, follow up emails, take part in sales meetings, do prospect research, update CRM, and other administration tasks. Also, they have to handle the pressure of achieving the sales & revenue targets. So, it impacts the sales productivity and they are unable to increase sales.
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A study reveals that improving sales productivity remains the #1 challenge for 50% of the organizations. Another research states that sales people have very less selling time. It reflects on your sales productivity & performance. You can only close very few deals which means less revenue for you and your business as well.
If you are a sales person who wants to improve sales productivity & increase conversion rates, read on. But before that, let us first know what sales productivity is.
Sales productivity is the ratio of effectiveness versus efficiency. It is increasing sales results with minimal resources such as cost, effort & time. With businesses increasing their sales targets, it is vital for salespeople to improve sales productivity. It enables you to exceed your sales quota and take your business to greater heights.
7 Growth Strategies to Improve Sales Productivity
There are many factors that enable you to improve sales productivity. But, certain elements steal your selling time and kill your sales productivity. As a salesperson, if you can identify and address those issues, you can get more time to sell. It will help you to improve sales productivity, sales performance, increase sales conversions, generate more sales revenue and become successful sales heroes.
Here are 7 Growth Strategies to Improve Sales Productivity:
- Create your Ideal Customer Profile
- Build Targeted Prospect Lists
- Automate Prospect List Building
- Spend Time on Prospect Research
- Personalize Emails
- Measure Sales KPIs
- Conduct Sales Training Programs Regularly
Create your Ideal Customer Profile
If you want to improve sales productivity & increase sales, you need to know who your ideal customers are. Without that you will be targeting someone who doesn’t need your product or service. All your sales & marketing campaigns will not yield the desired outcome. It’s a waste of time and resources. Companies that have realized it and created the ideal customer profile have always been very successful. So, you need to create your ideal customer profile and find who your ideal customers are. When you focus on your ideal customers, it enables you to create more value for your business & improve sales productivity. It helps you to not only save a great deal of time and money but also helps you increase conversion rates.
Build Targeted Prospect Lists
Once you create your ideal customer profile, the next step is to build a targeted list of ideal customers. This is where businesses spend a lot of resources. You need to first find your ideal customers and then build a list of ideal customers. To find your ideal customers, you have to spend countless hours on search engines, company websites, blogs, forums, association websites, social networks and professional networking sites. You have to manually sift through hundreds of web pages to find your ideal prospects along with their contact information. It takes a lot of your time, sometimes days, weeks or months. This eats up your selling time. Some businesses buy lists from vendors. Those lists are expensive and at the same time, you cannot rely on that data. Marketing studies reveal that every year, around 25%-30% of the prospect data becomes inaccurate or obsolete. Marketing to an inaccurate prospect list drains your energy and it impacts your sales conversions as well. But smart & successful sales people use B2B prospecting tools to build targeted prospect lists in no time.
Automate Prospect List Building
Successful sales folks always appreciate the value of time. They use automated prospect list building tools to automate prospect list building. Once you find your target audience, the automated prospect list building tools extract prospect information, find missing business contact information such as business email address & phone numbers, automatically build prospect list and send it to your inbox. What’s more? The tool provides verified business email address of your ideal customers. You need to download it and start calling or jump start your email marketing campaigns. You don’t have to spend time daily to generate leads. You also don’t have to manually intervene. You will be receiving your targeted prospect list via email every day. It helps you to build complete and accurate prospect lists 20x faster. It enables you to improve sales productivity and get more selling time.
Spend Time on Prospect Research
Once you have found your ideal customers and built your targeted prospect list, you need to research on your prospects before you call or email. You should spend some time on prospect research to know about your prospects’ business, industry, industry-related challenges, company background, head count, company revenue, etc. It helps you to understand your prospects better. You need to remember that the first impression is the best impression. When you research on your prospects, you will be in a better position to provide solutions that help your prospect’s business grow. It helps you to easily connect with your prospects, build rapport and increases your chances for sales conversions.
Email personalization is one of the most effective methods to reach your ideal customers, especially decision makers. When you personalize emails, you can tailor your message based on your prospects’ specific needs. It helps you to be more relevant rather than sending generic emails. Studies reveal that with personalized email marketing, you have a 74% high chance of customer engagement. Chances are high that you can get more positive responses. As you already have a complete and accurate prospect list, you can jump start your personalized email marketing campaigns in no time. Again, make sure you keep your emails short and to the point. It shouldn’t take much time to read your message. A lot of people check emails on the go using mobile devices. So it is important to keep it simple, light and have a compelling call to action as well. When you send personalized emails, it increases the chances of sales conversions.
Measure Sales KPIs
Measuring sales KPIs is very important. You need to know if you are getting the expected results for your sales & marketing efforts. It helps you to track your sales & marketing metrics, figure out areas that need improvement or modification and stop spending on things that don’t work well for you. It helps you to focus more on strategies that gets you more sales, increase sales conversion rates and save your marketing dollars from activities that don’t get you results.
Conduct Sales Training Programs Regularly
Conducting sales training programs can help your salespeople to improve selling skills. It helps you to improve sales productivity over a period of time. The sales environment is constantly changing. What you learnt a couple of years has become irrelevant today. So businesses need to realize this and train sales folks continuously to help them learn the latest trends, objection handling tactics and equip them to become a strong sales team that generates more sales revenue for the organization.
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