Prospecting Isn't Cheap: Tips To Help Your Sales Team Close Deals Faster

Prospecting Isn't Cheap: Tips To Help Your Sales Team Close Deals Faster

Prospecting is one of the most crucial parts of the sales process, and identifying potential clients is easier said than done.

As you know, half the battle of sales is racing to meet quota against the clock. In order to save time and maximize productivity, it’s important to prospect as efficiently as possible.

Take a look at what prospecting is costing you, and follow these steps on how to help your team be as effective as possible:

How Much Is Prospecting Costing You?

Click Here to Get This InfoGraphic In Dollars

As you can see, having a sales team is not a cheap expense. As shown above, if you have a team of just two people and they are conducting just one hour of research per day, this could be costing you close to 20K per year.

Wouldn’t you rather put those dollars towards systems and processes that will help your team close more deals faster?

Here are a few tips on how you can help your sales team close more deals, faster:

Set Clear Goals:

Well-defined goals are specific, measurable, attainable, relevant and time-related. Determine where you want to be at the end of the process, and then put systems in place to reach those targets.

In order to be successful in crushing your sales goals, it’s important to put a consistent, scalable growth process in place. While each growth process looks different, a good high-level model to mirror includes:

  • Customer Retention
  • Customer Lifetime Value
  • Introduce New Products/Services to Enter New Markets
  • Expanding Your Networking Presence In Key Organizations

Once you and your team specifically define the best way to approach these specific areas, you can begin to focus more granularly on customers and prove to them why your product would benefit them. According to studies, 97% of customers chose the winning vendor because they demonstrated a stronger knowledge of their company and its needs.

When goal setting, it’s important to break down your annual goals into periodic goals in order to keep you on track throughout the year and allow you to adjust tactics based on results. A data-driven business development process allows teams to stay on top of KPI performance and target specific metrics to determine if their efforts are successful.

Invest In A Strong Tech Stack

According to Hubspot research, 50% of sales time is wasted on unproductive prospecting. If your team is spending time manually building lists, lacks sales enablement, or doesn’t have access to the technologies needed for success, odds are your business is falling victim to this statistic.

Your sales team cannot be successful without the proper technologies that will keep them organized and on track.

Other than the basics, such as a computer and email address, here are some technologies you absolutely need to provide your sales team for ultimate efficiency:

  • CRM (Salesforce, Hubspot, etc.)
    • With feature-rich capabilities, a CRM software will allow you and your team to automate your business development process to optimize sales and marketing.
  • Sales Engagement Platform (Salesloft, Outreach, Groove, etc.)
    • These platforms create an opportunity to elevate your sales organization by helping them connect with customers in meaningful ways. The main purpose of an engagement platform is to generate your pipeline, create a structure to improve processes and build better relationships through efficient sales processes.
  • Sales Intelligence Platform (Winmo)
    • In order to step up your prospecting game and save time, a sales intelligence platform unlocks more sales opportunities for you. Winmo’s database provides you with key decision makers budget by budget, projected opportunity timelines, so you know when to pitch, who to talk to, and what to say to win more business.
  • Sales Enablement Platforms (Seismic, Highspot, Showpad, etc.)
    • These platforms allow sales teams to find the appropriate content, present content to buyers, view the activities of potential buyers and therefore optimize content. Businesses can also monitor interactions between their potential buyers and the content generated by the system.

Having your salespeople juggle too stay organized makes them less effective. The more time available to sell, the better. The key is to minimize wasted time, which as you know is one of the most valuable resources in the realm of sales.

We want to help your team grind less and sell more. To find out more about how our platform can save you time, money and effort, request a free Winmo trial today.

 

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