- August 22, 2019
- Posted by: Robert Duke
- Category: Articles
Have you ever wondered why your sales numbers are quite frozen? You may have an active sales team or an effective strategy to keep your employees occupied. Yet, what’s affecting your business the most in terms of the sales revenue? We have an answer for you. Sales as a profession have changed drastically over time, along with technological advancement. But, did you also update your approach to your sales pipeline alongside? If not, try applying the modern tactics to make your age-old sales pipeline look fancy. Pretty simple, huh?
Whether you’re trying to build a business right from scratch or managing the sales department for any large enterprise, the below-mentioned tips will undoubtedly guide your sales action in this area.
1. Examine Your Current Sales Process
Let’s begin with improving our current sales development process. To do so, one needs to evaluate it thoroughly at first. You can’t just make a slight change and expect a massive difference in the revenue. It may work without troubling you for a day or two, but the result won’t remain the same always. So, we advise you to examine the sales pipeline carefully and then streamline each process. Delve into every minute area of the sales pipeline, and see how you can move your leads through it. Identify the areas that should be removed entirely or requires improvement.
However, ensure that you keep your buyer persona at the forefront while doing this. That is, ask yourself specific questions such as:
- Do these changes benefit your audience?
- How would your potential clients like to be sold to?
- Do they want to view the proposal before learning the price?
- Will they need to see the product review or demonstration before anything else?
These questions help you be on the right track while streamlining your process to the needs of the ideal buyer.
2. Learn More about Your Ideal Customer Profile
It’s high time to understand your ideal customers. It will save your firm from targeting those audiences who are not suitable for your business success. First, begin with learning their demographics and psychographics, such as their age, location, job titles, buying attitudes, and others. It helps you in determining the right strategy to target them. That is, by knowing where they visit frequently, what they read, where they work, what social media apps they subscribe to, firms can easily construct the messages that connect well with them.
This process requires an entire list of B2B contacts and their business information, which we’ll be discussing in the next step.
3. Always Have a Supreme Quality Data
If you’re trying to move your leads through a pipeline at a certain speed, it is crucial to maintain a high-quality database. But, this is where most of sales strategies go wrong. It either lacks sufficient record or utilize the database with erroneous or outdated data. If you don’t want your sales progress to be hindered because of this most common mistake, address it as early as possible. Look for the qualified B2B Data that are essential for your sales pipeline.
Once you’ve gathered all the required data, make sure to enter as well as store the details at the same high standard. Remember not to scribble it down in any of the notepads. It may not help you in serving the real purpose of prospect’s data. You can regulate the storing of these records, through a qualifying document or any of the modern approaches. It helps you in keeping the details accurate throughout.
4. Do Your Homework before Approaching Any Client
Yes, after all, it matters a lot although it consumes some extra time from your schedule. Be it your first customer or tenth, prepare yourself properly before every call. There are certain instances where salespeople assume their charm will help them in winning the deals. Let’s be honest – this trick doesn’t work anymore! So, researching more about the potential customer before any call is highly essential. Find out everything you can about the prospect and their industry. Learn what’s affecting them the most, and how can you solve it.
As mentioned above, it is a continuous process. That is, listen to your prospects while on call and take notes. You can then consult these notes for your next conversation with the same person. Go through their social media profiles such as LinkedIn and read the content they’ve interacted with earlier. This approach eases your research and helps you in determining their problems quickly. So, when the next call comes around, you can impress the prospects with your knowledge.
5. Build a Highly Proficient Sales Team
It’s quite common to see many smaller firms isolating the job description for a sales professional without concentrating on the core competency. But did you know that each member of your team has his/her own skills and weaknesses? Use these qualities of individuals and pair them accordingly for better productivity. For instance, some are good at making cold calls, whereas some are better at nurturing the relationship with old clients. It’s vital to identify such strengths of your employees and assign the task based on it.
Some other specialties may include subject matter experts, lead qualifying, client support, closing deals, channel managers, strategic account managers, and others. Always remember not to fear while hiring the candidates based on sales skills, rather than industry experience. You can later mix the novices with industry experts having strong sales skills to cross-train.
6. Always Be Real with a Noble Purpose
Business language is essential, but at the same time, you need to appear human. In most scenarios, a sales representative’s success depends on their capability to develop a long-lasting relationship with the clients. It begins by cultivating a genuine interest in your customer’s needs as well as your business solutions. If you include soft skills development in your training program, you can no doubt see a dramatic increase in your return on investment for all the calls, conferences, and face-to-face meetings. So, every salesperson must try to see the world through the eye of potential customers while demonstrating the noble purpose.
Each member of your sales team must approach the clients as they sincerely care. They must gain the trust of the people and teach them new things collectively. Also, they must unfailingly describe their previous conversation during the call. It all helps towards becoming a friendly face than any salesperson who brags about themselves.
7. Negotiate Rightly When Required
Negotiation is all about understanding your company needs and going after it while respecting the other person involved in the process. But it is a tricky procedure. There are chances that you may fail your prospects while negotiating, which is worse than losing them after the business proposal. The company may have to negotiate when the prospects don’t see the value in the product; instead, they judge it solely based on its price. Or, when a company loses its credibility out of the vast competition. As this tactic is essential for generating desired revenue, the sales reps must master it meticulously.
As a salesperson, it’s your job to bring back the lost trust or explain the real value of your product. You may have to invest your time in this region of the sales pipeline, but it’s worth the effort. With a fair strategy, you can create a space for an open discussion with your customers. You can quote different options with varied benefits and prices. If your leads are quite inflexible of their choice or unwilling to pay more, you can show them the other offers where less money is involved, and also the service is lessened.
This method forces the clients to choose between money and product value. And, for your surprise, they go for the expensive offers most of the time.
To Sum It Up
Now that you know how to embrace modern approaches and deliver the right message to the right potential client. As prospects have different needs at each stage of the buying process, it is essential for the organizations to create a tempo with it and go beyond the traditional strategy. By doing so, you can keep track of the sales cycle painlessly. Also, it provides a better experience for your buyer and you.