Top 4 Data Driven Strategies to Increase Sales

1. Top 4 Data Driven Strategies to Increase Sales byWakeupsales Blog Everybody likes to see higher sales figures or better productivity from the sales team. What if I tell you, it’s possible without expanding your sales team or stretching your budget? We surveyed more than 500 of our CRM users to compile statistics that we thought will help you guys make better decisions backed by data. Based on their usage, we gave special attention to certain actions you should also take to ensure optimum performance from your sales team. Here are some of the strategies you should consider: Let Your Sales Team Focus on Sales Only! Surprisingly, an average sales guy spends more than half of his time not-doing sales but performing admin duties, data entries, managing all his records & preparing reports. No wonder the sales team’s potential is not being fulfilled. Implementing strategies to boost your sales team’s productivity should always be on top of your to-do list. And I am not even talking about allocating higher budgets for them or increasing the headcount. Things like stricter scrutiny during lead qualification, creative team building & training, setting clearer objectives using ideal customer personas or best is to simply start using a CRM applicationthat’ll do most of the mundane jobs for you… saving you loads of time to focus on actual sales.

2. Create a Clear-cut Sales Process Research says that more than 80% of the companies accept the fact that an inconsistent sales process or lack of it results in below-par sales figures. It’s actually very difficult for sales folks to move customers or deals through your sales pipelineif there’s no pre-defined sales process for them to follow. Hence create a simple sales process for everyone to follow. The most common stages in a sales pipeline usually are new, prospecting, qualified, quote, won/lost. Define the significance of every stage clearly, so that your sales folks are able to plan their activities accordingly for better sales results. Do Your Homework on the Customer There’s no short-cut to this, neither any work-around. A survey tells that more than 85% of the customers feel sales folks don’t understand their needs. This is a very harsh truth to sales folks. How much do you try to understand your customers or prospects? In order to build a rapport & convince the prospect of buying your product/service, you really need to understand their needs, bottlenecks, values or even likes-dislikes. Knowing your prospect inside-out also helps you cater to people who are more likely to be in need of your offerings. Focus on Customer Retention Contrary to the popular practice of obsessing over acquiring new customers, nurturing existing customers & making sure they stay with you for the long-run is actually up to 7x cheaper. More importantly, even a slight increase in customer retention rates results in a higher increase in revenue or profits. Hence, it’s always wise to work towards building a cordial relationship with all your customers from day one. The goal should be to understand their needs & offer something that adds value. Don’t be hesitant on spending adequate time on nurturing those customers, so that when the time comes… your brand is there at the back of their minds & they don’t hesitate to extend their working relationship with you. There’s no sure shot road towards boosting sales. And in the end, everything comes down to your product/service. But the above-mentioned strategies surely play a role in building up your sales figures. More so, they don’t burn a hole in your pockets & combined with your quality product/service… work wonders! Have prospects & customers, but struggling to manage them? Take up Wakeupsales CRM & make your work life easier. It comes with a 30 days FREE Trial!