03 Jul Why isn’t your sales productivity increasing?
Together with a collection of other well-planned settlements for 2018, being more effective with time management is most likely on the list somewhere. As a sales manager, ensuring your sales staff’s productivity is probably on there as well. Productivity is a challenge for every sales organization. Most sales teams comprise of excellent people, but they’re bogged down by administrative responsibilities either as part of their work or procrastination techniques – resulting to the reduction in the time period they actually spend interacting with customers. Ultimately, sales productivity boils down to primarily two factors, namely, time and effectiveness. Studies have demonstrated that, normally, sales sources spend 44% of that their time focused on advertising actions.
Have you correctly identified what is important, and what is not?
Agreed. Advertising work is very important. But, it is less crucial to the business as compared to meeting customers in the first place to advertise the products or services. Sales leaders might increase the time period their sales folks have by measuring how long their salespeople spend on many activities, especially on selling versus non-selling activities. The next step would be to dig a little deeper. Examine how long reps are spending with customers by account type, product type, sales strategy, and the sales process stage. The most critical metric for a sales manager is comprehending the job role of every salesperson.
Are the right people doing the right job?
What’s the aim of that job? What are non-revenue generating and revenue generating activities? How much time are sales reps spending non-revenue producing activities? If you find you’re your team is spending an excessive amount of time on administrative responsibilities, the best next step would be to decontaminate the functions. Move these tasks to different people, possibly a sales support or sales operations team. Or, consider the kind of sale. It would make sense to shift transactional tasks to lower cost roles and allocate this more strategic actions to the more strategic sales roles. Sales organizations can then compute the Return on investment from changing administrative work to lower cost sources and enabling sales individuals to hunt.
Are you keeping track of the right KPI?
This kind of decontamination may have a big impact on productivity. For instance, for a company with $2B of earnings and 500 quota bearing repetitions that spend only 50% of its time advertising, adding 5% more advertising time at just 20% of the current earnings per hour yields an additional $40M in earnings capacity. The second component of sales capacity is how efficient sales individuals are with the time they’ve. Sales managers can improve the effectiveness of that their sales folks by measuring and controlling your stresses workload duration. And lastly, close rates. Sales effectiveness could be improved by better qualification offers according to more rigorous criteria.
Is there an easy way out?
Vymo delivers high sales productivity for enterprises. It is an Intelligent Personal Assistant for Sales teams that helps organizations
- collect rich contextual sales data
- correlate sales activities to outcomes, and
- coach salespeople to achieve more
Always on the lookout for targeting the next best opportunity at the right time, Vymo plugs field sales activities and data leaks by providing control of the sales cycle. Vymo has proven revenue impact of 3-10% by improving key sales productivity metrics, such as conversion percentage, turnaround time, and sales activities per opportunity.