May 31, 2016
Startup founders are super hard workers wearing multiple hats in their company. However, hyperactivity doesn’t always lead to conversions and revenue. Achieving a higher Sales productivity is always the number one challenge for any startup. It is estimated that more than 50% of sales reps fail to achieve their annual sales goal.
Here are those four things that can improve your startup’s sales efficiency.
Develop and Follow a strict sales process
Every organisation and the the sales process are entirely different. If you are a startup founder, you have to develop a sales process and constantly improve it using A/B tests. Start with a simple hypothetical sales process and talk to your people who might need your solution. One way to build a hypothetical sales process is to copy your competitor’s sales process. ( It works 🙂 )
Reach out to people early and try the hypothetical sales process. Learn what works and what doesn’t, update your hypothetical sales process based on the output of your first sales call. By the time you’ve finished talking to 10 people, you will be able to build the framework of a solid sales process.
Automate things wherever possible.
Once you are used to a process or tool you will be hesitant to adopt new things which might actually improve the efficiency. There are a lot of unproductive repetitive tasks (Like data entry to the CRM) in every sales process. There are a lot of free and paid tools to automate these tasks. This include tools like CRM, Social media sharing apps etc can help you sell better and efficiently.
Invest in Accurate contact data.
Data is king in today’s sales process, especially in B2B. As people change positions or switch jobs, the contact data becomes obsolete. If you are not maintaining update contact information, your sales campaigns will fail, period.
Datahut recently helped a company to improve sales by 3X and the reason for success was the accurate contact data. You can read about it here
Measure and improve metrics
Many organizations are not regularly tracking the sales productivity. Use the existing CRM data to learn which metrics are most important. Some of those can be the pipeline conversion rates, the length of sales cycle etc. Once you are regularly tracking these metrics, you will know what and where to improve.
A well-developed and maintained sales process and an updated contact database is a must for any successful sales campaign. Automation of repetitive tasks using technology can make sales rep more productive.
What is the secret of your Sales productivity. Share your thoughts as comments.
Also published on Medium.