“Some of the most effective sales performance optimization strategies are counter-intuitive, running in the face of conventional sales wisdom.” – Ken Thompson
An integral part of increasing your bottom line comes down to maximizing your sales team’s financial performance. The key to this is how your team executes and uses the available resources. According to a BP Trends publication, there are seven secrets towards Sales Optimization:
1. Manage the right things
This comes down to searching for the right data and tracking it efficiently. Allocate your focus where it matters. For example, some business should audit customers converted rather than leads captured.
2. There are no golden rules
Do not rely on previous rules, model, and work with your current process and make decisions based on that. It is human nature to try and create formulas to rely on, but businesses are always changing and it is up to you to adapt.
3. Is there a hole in your sales pipeline?
Monitor your pipeline to make sure it aligns with your key performance indicators. You should always be on the look out for bottlenecks in your process and tracking the right performance indicators will expose them to you.
4. Know when to generate leads
If generating more leads appears as a wasted effort, there are likely some inefficiencies in your sales process. Solid leads are always good for business but if leads increase and revenue do not be sure you know why.
5. Beware of “this year only” thinking
Always look at the big picture, small moves now may pay off 2 years down the road. As a manager, you must have foresight. For example, studies show that SEO (search engine optimization) initiatives usually take at least 12 months to pay off fully.
6. Manage sales cycle time
Establish the true transit time of your sales pipeline. This means to know how long it takes on average for a leads to move through your sales funnel.
7. Use the right tools for the job
Last but not least, use the appropriate tools and be resourceful with what you have. Wingmate helps businesses optimize their sales process from capturing qualified leads to closing them, all at a great price.
The BP Trends publication below talks about these 7 secrets in more detail. Click the link below to read more.
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