Tomorrow’s Path To Sales Productivity
A research was conducted and it was discovered that for every 5 business owners, 2 see time as the most important valuable asset and a quarter of them would not mind paying $500 for and extra hour every day. It was also discovered that the effective management of time was a huge challenge. The question is, how can small and mid-sized businesses effectively manage their time to boost productivity? This is what this article seeks to analyse.
Where Does Time And Revenue Go?
It is of critical importance for small and mid-sized businesses to effectively manage their sales as not doing this could set them back in lots of ways, one of which is the loss of money on the part of the business team. Taking advantage of this would ultimately maximize profits in the long run.
It could be quite a challenge, putting together a team that would develop the stream of customers. This could be as a result of the following.
• The inability to connect leads to the appropriate sales reps.
• Insufficient knowledge about leads before placing a call across.
• Insufficient data with respect to potential clients.
• Poor forecasting methods with respect to future leads.
Time is needed by representatives to sell, however, there are some amazing reasons why this time is limited. Here are some of them.
• Sales reps are always selling wherever they find themselves. Their time can be hindered when they are not properly equipped with the right tools such as smartphones and tablets.
• When there is insufficient automation, there is less communication. This implies that reps would have to wait for more time for their requests to be approved, hence, less time to sell.
• More time is saved when reps work together. Most reps spend more time keeping track of colleagues and experts. This they do to make sales and time is lost doing this.
• In addition, sales reps spend a lot of time keeping other sales reps in the loop for the entire sales process.
Knowledge Is Power
Gathering relevant information on potential clients is a huge hindrance for sales reps, however, through CRMs, this challenge can be surmounted. This can be achieved by making use of CRM to gather the following data with respect to clients.
• The History of the client.
• The present preference of the client.
• The social media presence of the client.
• Past interactions with the client.
• Infrastructural details with respect to the client.
• Past Sales interactions with the client.
The Future Of Time For Sales Reps
In a bid to give sales reps more sales time, SMBs are developing new approaches. They are turning to cloud based applications like collaborative CRM application tools. It provides sales reps more time to sell by making the selling process a lot simpler. As a result of this, significant progress has been made in critical areas.
• Businesses are able to increase overall sales by up to 27%.
• Win rate is up by 29%.
• Lead conversion increased by 32%.
• Forecast Accuracy is increased by 44%.
• There is a boost in productivity by 32%.
As a result of the implementation of these CRM strategies, more time has been saved by sales representatives. Here is proof.
For Fireclay Title
• There is a 400% increase in leads.
• There is a 15% increase in sales.
• There is an 85% reduction in the cost of administration.
For RAM Board
• This company grew to a global company from “Back of a Van.”
• Up to 15 hours of sales reps time was saved per week.
• With Geopoint apps, more sales trips routing could be made.
For First Data
• Their program was developed and launched in four weeks.
• Made deliveries to 100 sales people and managers.
• About 160 hours was saved every month.