It is common in some companies for management to get “stuck” on numerical objectives. However, a realistic objective that is worth proposing to the entire team is to change the sales cycle. By optimizing the process with digital tools, it is possible to reduce the time it takes to convert a prospect into a client . This, of course, may depend on each salesperson, but it will also depend on the commercial strategy designed by the board of directors and sales management.
Once you have decided what investments to make to improve the sales cycle, you can set more specific and numerical goals, such as what % of the sales cycle should be shortened in a certain period of time.
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In addition, to achieve this goal, it is key to opt for the digital guatemala whatsapp data adoption of the entire sales team , since they will be the ones who will make these types of changes effective and result in an improvement in sales.
Key Metric: Average Sales Cycle
Calculate the time taken by the sales cycle from the first contact to the closing of a sale. A shorter sales cycle suggests greater efficiency.
3. Improve lead conversion
An objective that should be a priority for your sales strategy is the conversion of leads or prospects. It is common for a company's salesperson's objective to be to maintain sales with regular customers or to increase the purchase rate among these regular customers.
However, a key indicator of sales success will always be the conversion of prospects, as it shows us whether there is really constant growth in the company or not.
Key Metric: Conversion Rate
Evaluate how many of your prospects are converting into customers. An improvement here is key, as it would indicate a significant increase in your revenue.
4. Increase customer retention
The latter, of course, without abandoning the importance of retaining existing customers. That is why it is so important to optimize your sales team through Sales Enablement .
Businessman using tablet analyzing sales data and economic growth graph chart on virtual interface. Business strategy. Abstract icon. Digital marketing.You need your salespeople to find the time and tools to offer repeat customers a good experience, and even improve it to increase loyalty rates, while also being able to capture leads and improve conversion rates.
Key Metric: Retention Rate
A higher retention rate often translates into recurring revenue. Your customer loyalty rate can indicate long-term growth, but it should be measured in parallel with conversion rate and take into account whether new deals can be established with repeat customers.
5. Improve seller productivity
In relation to what we said before, without a sales team capable of carrying out these improvements, it makes no sense to set goals, since none of them will be completely realistic.
Thus, a good investment to face the new year with more strength is to consult with an external company that offers Sales Enablement solutions to optimize your sales team.
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Sales Enablement is defined as a process that enables a company to maximize its profits by improving its salespeople. The idea is to ensure that salespeople use the most appropriate content and communication for each phase of the customer's purchasing process.
With the right resources, you can then set your salespeople a goal to increase the amount of time they spend on effective tasks. For example, automating repetitive, routine tasks can decrease the time salespeople spend on more administrative or preparation tasks, giving them more time to devote their efforts to more value-added actions.