Sales productivity can be described as the rate at which the sales team manages to meet their revenue goals.
The faster the quota of revenue is met, the more productive the salesperson becomes.
Sales productivity can be calculated by multiplying the efficiency of the sales reps and the way they do their job, with the effectiveness of their processes to generate revenue.
Calculating sales productivity will help you identify the area and skills which are lacking in the sales team and need to be made more efficient.
A few constantly existing sales problems are the need of more sales and the leads that are unqualified.
In order to solve these issues, it is important to understand both, the customer as well as the sales rep. Understanding the needs and requirements of the customers is mandatory in being able to strategize different sales techniques.
A few strategies that can help to increase the productivity of your business are:
- Laying emphasis on Sales training and coaching
While onboarding your sales team, the coaching and training that is provided to them shouldn’t be a one-off thing. It is necessary to set regular coaching for your sales team even after the onboarding is done.
- Why do this?
With regular training and coaching you can educate your sales team on your intended target audience, different buyers’ personas and various solutions offered. Training and coaching will also help them be aware about the company and the product or services it is offering, which in turn prepares them to answer any and every question asked by the customer.
However, while over-looking the team and maintaining regular discourse, it is important not to micro-manage. Maintaining an open dialogue with your sales team will influence their efficiency and at the same time help strategize and identify different approaches. This will also give you an insight into the different resources that are required to be developed.
- Assessing your Tech Stack
It would be wise to meet with your team and through discourse evaluate your tech stack. Doing this would help you understand whether or not all the tools that you are paying for are actually being used or not.
The evaluation of your tech stack will help boost sales productivity by differentiating between the different tools that are required and whether certain tools can be substituted, consolidated or in fact removed.
Doing this also helps you save on your budget while also adding to the training and coaching process for your sales representatives.
Some of the essential tools to boost sales productivity are:
- Customer Relationship Manager (CRM)
- Business Intelligence
- Business Analytics
- Sales Enablement
- Sales Engagement
- Sales Readiness
- Maintaining Relationship and smooth flow of communication between Sales and Marketing teams
In order to boost sales productivity, it is imperative for the Marketing and Sales team to communicate regularly. Keeping each other in the loop will most definitely improve efficiency as well as effectiveness.
The sales team should inform the marketing teams on what the customers responses towards their content is and which content is working, and which isn’t, while the marketing team needs to be able to find out from the sales team what else do they need to close on more deals and increase productivity.
Communication and collaboration between the two teams will lead to both becoming more effective and eventually increasing sales productivity on a whole.
- Being open to and embracing Automation
One major problem which disables the chances of boosting sales productivity is the fact that a lot of the time sales representatives are stuck doing monotonous tasks. Tasks such as following up on certain leads or repetitive to-dos, can prove to be mundane and result in the sales team tasks that don’t add value.
This is where you can use technology to your advantage and use software that will take care these monotonous mundane tasks. This will free up a lot of the time of your sales reps and in turn make them even more productive.
Doing this will help them spend more time on ways to increase their sales efficiency and therefore boost productivity.
However, at the same time it is important to choose the right platform or software to get these mundane tasks done and reinforces good practices instead of bad ones.
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