Sales productivity has become a necessity in today’s business world. Facts state that almost 2/3 of sales reps fail to reach their annual sales quota goal, worldwide. This shows that there is a huge gap to be filled. Successful firms fill this gap by increasing their sales productivity. It is a concept where sales are maximized and the expenses are minimized at the same time. The impact is huge, but it can be achieved by streamlining tasks, aligning teams and eliminating irrelevant tasks.
Sales productivity is getting people from “not being able to sell” to “being able to sell”.
There is no rocket science behind bringing an upward shift in your sales productivity. All you need to do is follow these simple, yet effective methods.
Suppose if you have to make calls to prospects and transcribe the conversations in a word document. It would be very time consuming and tiring to call each prospect, transcribe the conversation, then call the other prospect. An easier way out is to call all 10 prospects in one go and keep taking notes side by side during each conversation. Later on, you can type them in to the word document.
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A sales rep dedicates less than 1/3 of his time to core selling. The remaining time is spent on unproductive, repetitive or non best practice tasks. By automating activities, the sales rep will get more time which could be spent on core selling. Eradicate or reduce tasks such as data entry and automate the sales workflow as much as possible. This can be especially helpful for sales reps that are out in the field. Technology can keep them hooked with internal systems and the internet, which can be used for a number of things while the sales rep is out in the field.
Align Marketing & Sales
It becomes a headache for the senior management when departments such as sales and marketing operate as individual units. Statistics suggest that less than 10% of companies have close alignment between their sales and marketing departments. Interestingly, the quota achievement of these firms has increased by 25%, the win rate by 15% and there is 27% faster 3-year growth. The firm needs to incubate a culture of shared responsibilities in order to enhance sales productivity.
Sales reps need to accept the role that social media can play in increasing the influx of sales. Using the social mediums effectively to communicate with potential customers develops a feeling of trust in the customer’s heart. This feeling of trust eventually leads to closing the deal in a win-win situation.
To successfully increase sales productivity, firms need to adopt a multi-faceted approach that requires enhanced sales processes with the right use of sales productivity tools. It will require an effort from all departments of the firm. These efforts are minimal compared to the huge benefits increased sales productivity can bring to a firm.