3 mistakes that hold your growth and limit your sales development

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You are struggling to find new sales opportunities? Your revenue growth is very limited? You do not achieve the forecasted KPIs? You are desperate to find new leads?

If you are a true entrepreneurs or businessman you have already experienced those stressful moment when you realize your sales and revenue do not meet your expectations and put the future of your business in challenge.

Wake up, read the article until the end and be ready to growth hack your business!

1) Share your knowledge

You own or are in charge of developing the business of a startup, small business or SME and you are used to handle a huge amount of the sales activity yourself. Your sales team need your valuable knowledge to be performant and scale your sales. Share as much as you can what you have learned about the sales process and what makes a good prospect. Explain clearly who is your targeted audience (actually build with your team your buyer persona, it will help to create a team culture and integrate your sales rep in the decision stage), when your leads are warm and how to close the deal.

  • Buyer Persona: Define with your sales team in the most horizontal way possible your customer profile. For that you can use the Buyer persona template provided by Hubspot. You need to answer the following questions:
    • What is the industry where perform your customer?
    • What is their culture?
    • What are the goals of your customer (individual and business one)?
    • Who are their customer?
    • What are their biggest challenges?
    • Which position your dream customer has in its company?

You do not want your sales team wasting their time sending email, following up and calling the wrong people.

  • Define what is a qualified lead: Get your sales and marketing team agree about what make a qualify lead. Filtering leads is the best tips to increase the efficiency of your sales team. Your sales reps need to know when they can forward a lead to their Account Executive. Moreover Set up and agree about a lead scoring and grading methodology to convert inbound lead into sales opportunities.

Provide your sales team with the knowledge they need to succeed. Without it they cannot succeed and grow your sales. Then you can set back and manage your team.

2) Provide Accurate Leads

Make sure you are providing the best quality leads to your sales reps. Indeed there is nothing worse than sending emails and having a 80% bounced email rate and calling wrong numbers. Your database has to be updated and cleaned continuously to provide only accurate data.  If you do not have any leads database or you have a very crappy one, use extensively lead generation software‘s to build a high class database full of targeted  contact info.

Salestools.io – #1 Customer Acquisition Platform offer a very innovative tool that extract up to 80% verified email addresses on various social media websites (Linkedin, Twitter, Crunchbase, Xing, Viadeo, Github,etc.). Their solution is integrated to most of CRMs (Salesforce, Pipedrive, SugarCRM,etc.)  and Zapier platform.

Your sales team deserve the best database, the most accurate leads and a foolproof tool. Watch right now the salestools webinar. https://salestools.io/webinar/

3) Prioritize your leads

Leads are are and should not be treated equally. A single approach to leads just isn’t going to work. Determine if your sales team are approaching cold, warm and hot leads the same way; If yes you have a problem.

Make certain all your BDR are following a very strict and structured process for how different kind of leads are handled.

Follow the BANT lead qualifying system to identify hot lead. A hot lead fulfill the following criteria.

B for Budget: Prospect know his budget and is ready for disposal when he has the “Go” from his management. Questions : Do you have a budget? How much is your budget? What is your budget range?

A for Authority: The contact you are in touch with can has the final word for the “Go” or “No Go” to make the purchase. Questions: Are you the person in charge/recommender on this project? Do you solely make decision on this project?

N for Need: When your prospect has expressed a clear need that fit with your value proposition, you should start consider the lead as hotter. Questions: Are you looking into this type of product/service to improve your process? What product/service are you currently using? Have you encountered any issue?

T for Time frame: This point determine the time you spoke with your prospect and how long it will take him to purchase your product. Shorter is the time frame to realize the purchase, hotter is your lead. Questions: When do you plan to purchase? When do you plan to implement the new product?

 

Warm Lead misses 1 or 2 criteria however what is a requirement to define a lead as warm is that a Need has been identified. Quite often the missing criteria are the Budget and the Time frame. Those leads just need to be nurtured and some time to be upgraded. Do not get discouraged, soon they will be your client!

A Cold lead has 2 or 3 disqualifies. For this type of lead you need to keep them in the nurturing process and continue to feed them with information’s about the product, its advantages, your own qualities and the competitive advantages of your company.

Do not messed up while qualifying a lead and attributing it to your sales reps. You don’t want to cold a warm lead by assigning the wrong BDR and missing a great sale opportunity.

 

4) Sales rep goals and low turnover

If you are experiencing a high turnover in your sales team, it means that something go wrong. Most likely your sales KPIs or compensation plan is inappropriate.

KPIs and compensation plan has to be motivating means to push your sales rep to boost company revenue. However if they are too high you will experience the inverse effect with low productivity, disengagement and leading to a high turnover.

KPIs should give your BDR a clear goal to achieve, and they should be able to visualize the steps they’ll need to take to achieve that goal. KPIs have to be defined after training and they have to be set in a fair way. An investment in sales training and peer accountability groups need also to be realized to make sure your sales reps are properly equipped for the job and continue to hone their skills.

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