Source of Infographic: SalesForce
The Future Path To Sales Productivity
Two out of 5 small business owners rank time as their most valuable factor, and 1/4 of those small business owners would pay five hundred dollars for an extra hour in the day. Adequate time management is as much a challenge as it has ever been. How are small and midsize businesses (SMB) able to effectively use their sales teams’ time in order to increase and maximize revenue?
Where Does Time and Revenue Go?
Solving time management problems for SMB’s is not just crucial for efficiency’s sake – it is also one of the best ways to usher in an era of increased sales.
The High Price of Time Not Selling
Inefficient time management is able to cause a host of problems, not the lease of which is lost money due to lack of time on the part of a SMB’s sales team.
Finding time to bring in a steady flow of new customers can be quite a challenge for the SMB sales team. This is cause most often by issues such as: inability to route leads to the appropriate sales representative, lack of informative data on potential clients, inadequate knowledge about a prospect before calling, and poor forecasting and visibility of future pipeline.
Obviously, representatives need time in order to sell. However, some of the reasons of which limit that time are surprising.
Wherever You Are, You Are Always Selling.
Not allowing sales representatives the right amount of functionality with tablets or smart phones is able to seriously effect their selling time.
Working Together Saves Time
A lot of reps’ time is spent tracking down experts and colleagues to make sales. Once these collaborators are discovered, another big chunk of time is devoted to keeping them in the loop during the sales process.
Knowledge Is Power
The biggest hindrance to SMB sales reps is getting together information on potential clients – CRMs help solve this problem.
CRM gathers the following data: client history, current client preference, client social media presence, past interactions with client, client infrastructural details, and past sales interactions.
The Future of Time For Sales Reps
A lot of SMBs are turning to new approaches in an effort to give their salespeople more time to sell.
One of these leading areas is cloud-based, collaborative CRM application tools. These systems are giving SMBs more time to sell by simplifying their selling processes. Some business are able to increase overall sales by 27 percent. CRMs also increase the win rate by 29 percent, the lead conversion by 32 percent, the forecast accuracy by 44 percent, and productivity by 32 percent.
The Proof Is In The Time Saved
After implementing a CRM application, these companies experienced the impact.
400 percent increase in leads, 15 percent increase in sales, 85 percent reduction in administrative costs.