The Big Question
The big question we hear from an owner or sales leader typically is how do I get more business without increasing my budget or hiring new salespeople?
I encourage them to ask what processes can free up your time, give you better data, and make success repeatable & duplicatable. All these points I discuss below, I will explore more deeply throughout the article, so if the terminology leaves you with questions, don’t worry as you read to the end, clarity will come quickly.
1. Map Success:
The best starting point to increase sales is to map out how your best performers are winning and why, is it all relationships or their process, habits, and rhythms?
2. Automate The Monotony:
Are you templating emails, building in sales enablement sequences in your CRM, have active link tracking for intelligence & lead scoring?
3. Coaching & Metrics:
Are you spending time coaching your people and helping them develop a roadmap to their success in your company and in life? Are metrics tracking the success so that you don’t have to overmanage?
I am speaking to the majority of small and mid-sized companies (2.5 to 50 Million) in this article and if it doesn’t resonate with you, congratulations, you are in the 1% of optimized companies.
Most companies are in the midst of the battle and working in the business and not on it. To eectively chart your easiest path forward, you have to map where you are and your strengths.
A) Complete a sales process map and map the behaviors of your top performers.
B) Design the ideal process to eliminate waste and keep salespeople selling with the highest conversion (As per the Harvard study in 2019, salespeople are spending 2⁄3 of their time doing activities other than selling. Therefore, consider that by getting them selling with more of their time you reduce the need for more headcount, aka more complexity to manage. Yes, sciences, sexy.
C) When dealing with customer wins, map your touch point backward to and out what information, relationship developments, and other steps were taken to win the sale. Future success is easily duplicated o past wins. Be thorough in your analysis and you can build a process that can take the worst sales person and have them succeed, but please don’t hire the worst.
Automate The Monotony
A) As the aforementioned statistic alludes to above, most salespeople are only selling with 1⁄3 of their time. Our job as leaders is to stop and give them their time back, which makes us more money and them via commissions at the same time. Use the line – “When you make money, we make money; ergo we want you to make money more than you want you to make money”
B) By designing the ideal process as in section 1, allows you to start optimizing templates, sequences, and sales collateral for your team members to use quickly via their CRM. It goes without saying in 2022 that your CRM needs to be fully integrated and track each event to split test data and client reactions. You don’t go into a battle without the right information on your opponents. Modern CRMs not only allow intelligent data, and automation of tasks but also allows you to easily split test sales collateral, email sequences and education marketing to help customers reach an informed & confident decision.
C) Modern-day automation of tasks in the sales world is called sales enablement, which generally is built on the architecture of staged improvements from process step to process step; so to put it simply, imagine widening a funnel, starting at the top and working all the way down to the bottom, aka the conversion. By working in stages on improvement, we can easily improve the ratio of customers from step to step therefore increasing overall conversions. Failing to break down the process makes data unusable and improvements too complex by making them hard to measure the micro impacts.
Coaching & Metrics
With the advent of all these new systems, sequences, automation, and a number of moving parts, the question arises is who is going to teach, monitor and coach the sta to make the adoption of such practices & tools a reality, yet alone an efficiency?
A) Coaching is required, not optional in the modern sales team, and should be 30 minutes a week per rep in the following format: 10 Minutes personal (show them you care). 10 Minutes on challenges in the week. 5 minutes on solutions, and end the meeting with the wins from the week previous. Leave each minute with micro and achievable goals for the following week.
B) Have your team committed to personal development through podcasts, books, and a growth development plan so their ambitions fit within your organization. Turnover, which is the greatest nemesis of the modern business, is highly tied to the planning and goal-setting of the individual within the company context. If you dream together, you stay together may be cliche, but the wisdom still stands.
C) Instead of managing individuals on a micro level, allow the metrics to do the job. Too many businesses have moving scales of measurement which makes it impossible for reps to attain success. Agree on quarterly targets and have extreme clarity on how they will be judged and watch performance increase as long as the overall strategy is strong, which has created the metrics to be driven. We let our reps bunch above their weight, often leading key meetings, taking on project initiatives, and pioneering new methods as it gives them ownership and allows them to learn to ask for the support they need. What is so exciting is the privilege of helping lead people to their next level while building amazing deliverables for clients. Coaching is a privilege, and if you don’t think so, hire a sales coach to make it happen for you.
The Three Main Keys
1. Build & optimize your process.
2. Automate and split test in a good CRM to free up time and maximize conversions.
3. Develop your people wholeheartedly and allow metrics that are aligned to be their judge.
If you are like most other businesses out there, you may lack the capacity, knowledge, or bench strength to make this happen, if that is the case and you want help, give us a call & let’s put together a plan to get your time back, results up and stress down.