Every sales team strives to deliver on budgets and have a target-focused sales team. However, what’s the differentiating point between a high-performing sales team and that of under-performers?
According to Harvard Business Review, “52% of high-performing salespeople tend to take complete advantage of their organizations’ CRM technology.”
Following are three ways of using CRM software to see your sales team win more deals:
1. Create a formal sales process
Research has revealed that there is a direct connection between efficient sales pipeline management and revenue growth.
As per Harvard Business Review, companies that have registered to have an efficient sales process demonstrated a 15% hike in revenue growth compared to companies that did not have such a process in place.
Moreover, companies implementing three crucial pipeline practices: a well-defined sales process, allocating at least 3 hours per month on pipeline management, and offering appropriate training for sales managers on pipeline management experienced 28% higher revenue generation.
So what’s the best way to create a formal sales process?
The most effective way of managing your sales pipeline is to use the right CRM system.
Also, clearly define the key stages and outline exactly what to expect at each stage. Also, provide all the required documentation and protocols that your sales reps will need at each stage.
Draft a sales guide that includes your company’s best practices and make sure that your entire team is working incongruous and structured manner.
Your salespeople can garner all necessary support and instruction they need at each stage of the sales process with the help of the sales guide. As it automatically offers task details and templates for documents as and when required. Besides that, it highlights follow-up activities that need to be executed.
Without the sales guide, you have to manually track each sale to make sure that the appropriate steps are being followed at each stage and the right documents are being delivered. This additional task may not take much of your time, but it can obstruct your team. Ultimately, it may roll back the entire process.
However, no single sales process is the best. Instead, it has been found that opting for a single sales process consistently resulted in lower performance than integrating approaches with more than one specific method.
Thus, consider developing various sales processes that represent your product and services.
2. Develop a single point of truth
Accurate sales predictions define the success of any organization.
It is easier to identify if you are on track for revenue goals with an accurate sales forecast. Further, it offers you valuable insights into your business’s hiring, budgeting, and resource management areas.
However, many sales manager find it challenging to develop forecasts that displays a realistic view of their sales pipelines.
What you require is a single point of truth for your sales team and the entire organization. And that is offered by the CRM system!
With the data you gather in your CRM system, you can track your critical sales information, including deal status, deal values, customer profiles, etc.
With the proper CRM system in place, you can develop accurate pipeline and forecast reports. Thereby, you will know exactly where you belong concerning your revenue targets. In turn, it will improve your decision-making as you can implement data-driven strategies.
Besides that, this data analysis will guide you regarding improvements. You can resolve process issues as well.
3. Ensure connection within your sales funnel
In order for your sales team to close more leads and acquire efficiency with their work, ensuring connection, transparency, and accessibility within your sales funnel is crucial.
For instance, you can connect with the sales team about the last tasks on your sales guide. By providing team access to all essential customers, documentation will make it easier to hand over the process.
Studies have represented that customers prefer working with businesses that engage them and offer them a more personalized experience. And here, the role of CRM becomes more prominent.
Thus, facilitate coordination between the tasks of sales, marketing, and service teams and allow the exchange of customer information seamlessly.
You need to take charge of your sales pipeline to succeed with your sales budgets.
For that, you need to adopt the sales process that can be mapped, tracked, examined.
Apart from that, you need to ensure connection within your sales team. It will help you streamline processes across your sales team and the entire organization. It will also enable an improved customer experience.
Thus, implement the right CRM system and integrate it with these practices. This is how your sales team will win more deals.
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