When it comes to ramping up sales productivity, there are several ways and means by which you can go about it. In the quest to improve sales productivity, organizations should take a holistic view of the challenges surrounding the issue and how to address the same.
Mention all the challenges companies are getting for sales productivity
While there are several ways on how to measure sales productivity, there are several common challenges faced by organizations along the way. These include the following:
- Vague Mission Statement- The absence of a mission statement is possibly the biggest hurdle. If the whole company is not clear about the role and functions of the sales division and its operation, systems may be siloed, leading to efforts and time going down the drain.
- Achieving Balance- The sales team should strive to balance out its diverse roles and functions while managing the ever-diversifying team simultaneously.
- Sales Processes- Not defining sales procedures clearly, may lead to hindrances regarding future optimization.
- Reporting- Existing personnel may shift to newly-made roles like directors or managers, other employees may not recognize the authority of these people in terms of taking decisions.
- Skills & Scalability- Upgrading sales skills with data and technology and also being able to evolve and scale up operations are major challenges as well.
- Collaboration- Communication and simultaneous collaboration between members of an organization remains a challenge for most companies.
What causes sales inefficiency?
The biggest challenge when an organization attempts to increase sales productivity, is often inefficiency in the sales process. These are caused by several aspects including the following:
- Sales reps may not respond to training programs.
- CRM data remains unstructured, incomplete or inaccurate.
- New and latest marketing/support content remains unused.
- Reps keep pushing aside coaching, practice and motivational exercises.
- There are complaints frequently by sales reps regarding customers and their behavior.
- Sale reps do not find value in updating themselves, entering data into the CRM consistently and mapping customer behavior.
- They are not motivated or incentivized enough for lead generation and closing deals.
Key pillars of sales productivity
When it comes to learning how to improve sales performance, a look at the key pillars of productivity becomes highly important:
- Talent- Identification and employment of the right talent in sales is a must.
- Skills & Processes- Creating measurable processes for sales and training the team to maximize sales methods/abilities is also important.
- Development- Training and identification for meeting career objectives in sales and individual objectives goes a long way towards scaling up productivity.
- Tracking- Analytics, performance tracking and utilization of insights is another pillar.
- Rewards & Recognition- Suitably tailoring reward and recognition structures for driving higher productivity is also needed.
- Planning- There should be clearly defined plans for sales divisions, areas, territories and work systems.
Different ways to improve sales productivity
Here are some ways to improve sales productivity that organizations can consider:
- Scoring Leads- Companies should aim at making lead scoring models more viable and accurate through integration of data across various parameters. Scoring helps in prioritizing and classifying leads better.
- Syncing marketing and sales- Lead generation systems should be suitably aligned between these two business functions. Marketing should drive in more suitable leads for the sales team to close and maintain conversion rates.
- Resources- Sales teams should have access to libraries and resources including templates, checklists, marketing content, videos, blogs and even eBooks for using on a regular basis courtesy the marketing and content teams.
- Motivation- Sales managers should develop mentorship programs for guiding sales talent towards achieving higher goals.
- Incentives- Incentivization should be a part of the sales structure in order to keep reps consistently motivated.
- Tools- Utilizing the right sales tools will naturally keep the momentum going.
LeadX can be a great way to optimize sales
LeadX empowers each individual in the organization and partners to generate warm and qualified leads courtesy their personal networks. Every person can generate leads on a consistent basis and get rewarded and recognized for the same. With multi-device and easy CRM integration, this works as a one-stop platform for quickly posting leads for handover to the sales team.
At the same time, deals are closed as a team while a stronger sales culture is built across the organization. Deals are tracked and progress is viewed in real-time along with all other updates. This naturally eliminates sales silos and helps in scaling up conversions and revenues at the same time.