5 Simple Ways to Increase Sales Productivity and Increase Profit
It goes without saying that sales professionals who are more productive tend to be more successful, deliver bigger deals, and drive demonstrable business growth. But what does cost savings and efficiency look like in a sales landscape that's more focused on it than ever before? Here's how some of Australia's most innovative sales leaders are boosting productivity, and how you can too.
At Salesforce, we define sales productivity as the result of a combination of sales efficiency and sales effectiveness.
Sales efficiency is about maximising the amount of productive time that your sales team has available in a day, eliminating low-value activities, and creating the space for high-value activities. A simple measure of increased sales efficiency is how many additional prospecting calls are being made each day.
Sales effectiveness is all about how those additional calls are used and what they deliver. An effective salesperson might translate 50% of those additional calls into qualified opportunities, while someone less effective may only convert 20% or less.
So, if sales productivity is sales efficiency plus sales effectiveness, then the key is integrating both effectiveness and efficiency with the right tactics to ensure maximum productivity. Some of the most impactful tactics focus on prioritisation, maximising sales engagement tools and effective automation, all through the lens of a unified system.
Keep reading to see five strategies that are increasing profits and delivering measurable improvements in sales. And don’t forget to register for our Pro Sales Tips webinar for even more insights into staying ahead of the hybrid sales landscape
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1. Boost Sales Productivity and Revenue by Prioritising High-Impact Activities
Effective prioritisation is a big driver of success, but prospect prioritisation can be extremely difficult. It can be tough to identify whether a deal is of high or low value and salespeople may not have the time to sift through all the information necessary for coming to a conclusion.
Now, new AI capabilities can guide salespeople and their managers through that process, helping highlight the opportunities that really matter. These sophisticated systems can unify customer data across a multitude of departments, gain a holistic 360-view of customers, predict which prospects are most likely to close and unpick insights that drive a company’s business strategies.
Sales Cloud Einstein analyses CRM data and applies algorithms based on prospect conversion trends and recent engagements to automatically prioritise the most promising opportunities, as well as the deals needing the closest attention.
The founder and CEO of Trinity Perspectives, a sales training and consulting company, says this sort of approach can be far more effective than simply throwing discounts at customers.
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2. Unlocking the Full Potential of Your Sales Team with Modern Tools
Today, the coaching and training of sales staff can be data-driven and personalised to meet the needs and ambitions of each individual and to maximise their value to the team, ultimately increasing profit for the company.
With modern sales engagement tools, managers can access insights and analytics at a forensic level, providing extensive visibility into sales performance, identifying areas for improvement, and maximising return on investment in sales training.
This visibility can also enable you to more easily learn from different approaches or configurations. For instance, IT provider and consulting company Datacom recommends agile experimentation and then sharing any lessons with the wider team.
3. Maximising sales productivity with automation
Automation is transforming the efficiency of sales teams, cutting out low-value, repetitive tasks and empowering them to focus on selling and less on administrative work. With this increased efficiency, sales teams can focus on closing more deals, increasing profit. Today’s intuitive, connected, and integrated sales systems provide everything salespeople need — prioritised task lists, prompts, insights, and trends — to maximise sales productivity and drive revenue growth.
As a curated hub of online workplace learning and development resources, Go1 helps its users access the exact material they need without having to switch providers or manage multiple subscriptions.
But for its sales operations to keep up with fast growth, Go1 needed to replicate that simplified experience for its own employees. As part of that, the Australian startup uses more than 47 Slack integrations to speed up the sales workflow, automate repetitive tasks, and give teams more time to assess strategic priorities and determine which tasks are higher-value.
4. Collaborate and share data via a single source of truth
Having a single source of truth for sales teams and their leaders makes collaboration and driving sales productivity a whole lot easier. Reducing the need to toggle between systems and having to sift through mounds of data can be time-consuming and can ultimately distract you from the task of handselling.
A unified system maximises your chances of providing the best customer experience. A detailed understanding of each customer — including the stage and health of each deal — can ensure you create the most personal and relevant customer experience possible.
5. Blend digital convenience with human connection
Understanding customer needs is one of the most important steps when trying to get a deal over the line. With rich, customer-related data now available, salespeople can appreciate in more detail the challenges their customers face, anticipate their problems, and make informed and timely proposals of how their business can help.
By enabling the right conversations at the right moments, and demonstrating an empathy built on accurate information and insights, today’s most productive sales teams build a pipeline of opportunities that can deliver revenue growth and increased value for their customers.
For example, manufacturer 3M needed to respond quickly to a pandemic-fuelled spikes in demand for N95 respirators — but, unfortunately, these spikes were accompanied by scammers looking to profit from the increase in demand. A successful response required a blend of fast, digital options and the ability to reach case workers when necessary.
Looking for more ways to stay ahead of a changing sales environment? Be sure to check out our on-demand Pro Sales Tips webinar, where leaders will explore a blueprint for the modern sales team.
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