Effective Strategies to Drive Sales Productivity in 2022
The past couple of years have found many companies rethinking how they functioned. It was a time of massive changes and disruptions to normal workflows, and it was challenging to keep everything going. While things have been getting back to normal, many companies are now taking a closer look at their processes. Rather than only recovering and getting back to normal operations, it’s now time for your company to maximise sales efficiency and look for areas where your team can improve.
That means defining sales productivity and evaluating your processes, defining your metrics, and finding those areas that need support. There are several ways to increase sales productivity.
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Sales productivity measures how efficient a sales team or sales rep is in regard to sales resources. When you look at the relationship between inputs (time & money) and outputs (total sales, leads generated), it’s possible to measure the productivity of your sales team.
Each company has its own sales productivity metrics and these vary depending on the company’s business plans and priorities. Some may focus on revenue targets or the number of units sold, while other companies may focus on generating leads or customer retention.
The ideal sales productivity is a higher output and a lower input to maximise your team’s efforts.
Why is Sales Productivity Important?
Your sales team may be busy, but are they really productive? Does your team have a high sales volume? While your company is probably doing well, it could also be wasting time and not being as productive as it could be.
Productivity is more than about being efficient or saving time and money. And learning how to maximise sales productivity can see an increase in the number of sales, happier employees, loyal customers, and a decrease in the amount of time wasted.
How to Increase Sales Productivity
Here are some strategies your sales team can implement to improve their sales productivity.
1. Check Current Sales Performance
Before you even look for ways to increase sales productivity, it’s essential to do an audit of your current practices and understand the baseline of your sales productivity. Doing an assessment is the only way to find your baseline and evaluate sales processes.
You can track workflows by asking sales agents to write down the steps they use for sales processes, including:
- Acquiring new clients
- Closing deals
- Logging sales
- Onboarding customers
- Keeping track of leads
2. Determine KPIs to Measure Sales Productivity
Has your team defined their sales productivity metrics and key performance indicators (KPIs)? If not, it’s time to start. While it’s great to have a goal of improving sales productivity, it’s not possible unless you know your team’s key indicators.
The list of sales productivities measures can include:
- Conversion rate
- Annual revenue
- Number of sales calls
- Time spent with customers
- Average sales at specific locations
- Customer service rating
- Outreach events
- Number of proposals
- Engagement rate
Whatever metrics your company uses, they should be specific and fit your goals. Over time, as you improve sales productivity, your team’s metrics and KPIs could change. However, having a baseline is vital to know when you’ve found success and help you stay there. Also, creating a healthy competitive spirit within your workforce can have positive results.
3. Get Feedback from Employees
If you’d like to learn more about your company’s sales productivity, consider asking your employees. Getting feedback from them can save you time, so you don’t have to guess at strategies that could help improve sales productivity.
Receiving feedback from your sales team can also help you better support them. For instance, you may find that the sales team may not have enough people. If so, that means the team can’t be productive. So, adding sales team members can be a huge help.
With the information you learn from their feedback, you’ll have a way to better support the team and they’ll also feel included in the process.
4. Onboard, Train, and Continually Coach Your Sales Team
Investing in sales training is a great way to increase sales productivity. When your team is qualified and prepared, they’ll also perform better.
It’s imperative to start the process when onboarding new employees. When the onboarding process and training are effective, new team members will ensure turnover rates are lower and sales productivity increases.
What’s more, learning is never really “done.” It must be a continuous process. And remember, this also applies to senior sales employees. Each team member will benefit from ongoing training and education.
5. Define the Sales Process
It’s also helpful to create a template for your sales process – a productivity style. A defined workflow can save time rather than reinventing the wheel. Your team will always know what needs to happen next.
When you’re defining the sales process, be sure to see which processes could be more successful with better definition and organisation. For instance, creating a sales pipeline can be extremely beneficial for the sales team.
6. Clarify the Target Audience & Determine Customer Needs
As you go through redefining your sales process, be sure to remember that about 50% of sales prospects are not the right audience for the product that’s being sold to them. That’s a staggering statistic. That means that about half of all sales processes are failing to reach the right people. That means a huge loss in time, effort, and money.
So, it’s essential to work on targeting the right customers for your products and services. That means focusing on the customers’ needs and solving their problems. And you need to focus on specific needs to be successful.
Learning who the target audience is can help your sales team develop a highly focused sales pitch aimed specifically at these customers. This is a great way to make the sales team more productive and effective.
7. Evolve Virtual Selling
Another way to increase sales productivity is through virtual selling. This involves the process of building relationships with customers virtually. Virtual selling is the future of sales and now is the time to start learning how to do it effectively.
8. Use Sales Productivity Software
Finally, be sure to use the right sales productivity software for your team. There’s an overwhelming number of tools available; however, you may want to start with a CRM tool or a sales technology.
Review your sales processes to find the gaps in your current workflow and ask these questions:
- Are you spending too much time on tasks that could be automated?
- Is it necessary to overhaul your communication management to a new platform that would be more effective?
The goal is to find software that makes things easier for your sales team. These may include a comprehensive management tool, a CRM, or other tools that are right for your sales team.
Summing It Up
Sales productivity is a great way to help your sales team stop wasting time and increase their sales. Choosing the right strategies and tools is key to improving your team’s effectiveness and efficiency.
When you work to identify weaknesses and find the right solutions, you’re doing everything to ensure your company sees a boost in sales productivity and you’ll find success.
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