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:
Sales by time period: Understand whether your sales team is underperforming and find out success and failure patterns
Sales by lead source: Visualize where customers complete purchases so that you don’t waste resources on channels that don’t work
Basic demographic data: Where your customers come from, their age, gender, income, etc. will help you target the right people and drop irrelevant leads
Transaction history: Figure out what products different customers like to buy and bring up similar suggestions
2. Set SMART Goals
“When we had only begun our journey, it was chaotic. We knew the general scheme - you create ads, you speak to people, and you sell them something. We did not have goals and when we did, they were barely achievable. It all changed when we started using SMART goals”, a sales manager at Preply said.
SMART goals help sales reps organize their goals, work more productively, and drive sales.
SMART stands for:
S - Specific: Do not have a broad goal like “make more sales”. Instead, set a more specific goal such as “increase sales by 10%”.
M - Measurable: Set goals that are quantifiable so that you can easily track your progress.
A - Achievable: Opt for a goal that you can feasibly accomplish, but make sure the goal isn’t too easy.
R - Realistic: Find out whether you need to achieve this goal and if it will positively change something for your company.
T - Timely: Think about how long it will take to complete the goal so that you neither procrastinate nor set an unrealistic delivery time.
In a nutshell, SMART goals help businesses and sales teams stay focused and competitive.
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. You will also be able to log your meeting details right from the field, easily manage your territories, and generate new leads on the go.
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
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.
5. Use The B-A-T Triangle
Success in sales is often the result of a combination of the three elements of the B-A-T triangle: behavior, attitude, and technique.
B Stands for Behavior
A winning behavior in sales means doing the right thing at the right time and place.
A Stands for Attitude
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.
T Stands for Technique
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 in 2021.
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.