Businesses and individual sales reps often wonder how they can sell more for less. This old question has been around ever since… Well, since selling was invented.
Luckily, salespeople are constantly coming up with creative ways to lower selling costs.
In this article, we’ll get an overview of some of the most effective ways to sell more for less.
Sales teams who collect and analyze data are 6% more profitable than those who don’t.
We’ve come far enough in the digital age to no longer make guesses about our customers. Instead, we can use data to make informed decisions.
Businesses today have access to so much data that it’s increasingly hard to track and organize everything.
One thing you can do is to prioritize what data you should collect. These are some important metrics to track:
Check out our full guide to sales metrics to make sure you know what to track and how to do it.
SMART goals help sales reps organize their goals, work more productively, and drive sales.
SMART stands for:
In a nutshell, SMART goals help businesses and sales teams stay focused and competitive.
Source: New Breed Marketing
According to research, field sales make up for 71,2% of the sales industry. Despite its popularity, field sales can be costly and time-consuming.
This problem is easily fixable by utilizing a route planner such as Badger Maps.
Using a route planner helps you plan the most efficient routes to all your appointments so you don’t spend any extra time behind the wheel. This will also help you save money on gas! On top of that, you will be able to log your meeting details right from the field, easily manage your territories, and generate new leads on the go.
Image credit to MatrixPlace, a sales consulting firm that wrote an Analyst Report on Sales Mapping Software
Additionally, sales managers are able to monitor their sales team’s activities to ensure maximum productivity.
By using a route planner, you will instantly increase efficiency. You’ll cut costs by driving less and you’ll streamline your entire sales process, which will allow you to spend more time where it matters most - Selling.
4. Do Not Ignore Social Selling
Social selling is a sales strategy where salespeople contact potential customers directly through social media platforms.
Sales reps can achieve this through content sharing, following prospects’ profiles, or pitching the product through the platform’s direct messaging feature, like LinkedIn Inmails.
Social selling also allows brands to personalize communication and, therefore, create better connections with customers.
This kind of selling also shortens the selling cycle. A sales rep does not have to share their product’s benefits with every single person they meet. Instead, they can post an informative article on social media and reach a much broader pull of potential customers.
Success in sales is often the result of a combination of the three elements of the B-A-T triangle: behavior, attitude, and technique.
A winning behavior in sales means doing the right thing at the right time and place.
This calls for a reflection of how you feel about the sales industry, your management, and your job. Your attitude determines how engaged and, therefore, successful you will be in the cutthroat world of sales.
Every sales rep has tricks and techniques that they can learn to ensure better and bigger sales.
A manager should take a close look at every employee and figure out who needs additional training on each side of the triangle. By investing in coaching on these 3 dimensions, businesses are building the bridge to achieve long-term success.
There are many ways to sell more for less.
Some of these strategies involve leveraging new technology (such as route planners, data-driven sales, and social selling) to increase sales efficiency
Others, aim to set the focus on specific goals that will lead to long-term success (such as SMART goals and the B-A-T triangle).
Usually, a combination of the two works best. Try implementing the different techniques and find what works best for your business.
Author's Bio: Eliza Medley is an experienced writer and active contributor at Preply.com. She is actively interested in management, new technologies, and writing motivational articles. And also trying to go with time with modern trends. She inspires people with her work to learn new things and reach new heights. Follow @Eliza_Medley on Twitter.
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