Sales is the driving force behind any business. Without a strong sales team, it’s difficult for companies to grow and succeed in today’s competitive landscape. And to ensure success, companies need to focus on boosting their sales productivity.
But what exactly is sales productivity? How can businesses both optimize and measure its success? In this blog post, we’ll answer these questions in detail. Let’s get started.
What is sales productivity?
Sales productivity describes the relationship between a salesperson’s efficiency and effectiveness. Let’s take a look at the difference between these two terms in more detail:
- Effectiveness: The number of people a sales rep converts into paying customers.
- Efficiency: How quickly a sales rep can complete a task with minimal resources.
Ultimately, sales productivity is a way to track how much a salesperson sells in comparison to how many resources they use to make the sale.Ultimately, sales productivity is a way to track how much a salesperson sells in comparison to how many resources they use to make the sale.
5 ways to optimize your team’s sales productivity
There are a number of factors that can impact a person’s sales productivity. These include goals, quality of leads, tools available, and more. Optimizing these factors is key for businesses that want to increase their reps’ sales productivity. Here’s how:
1. Use a CRM for sales
A customer relationship management (CRM) tool allows companies to store and track all communications with customers — and nurture them along the funnel. Ultimately, this helps sales teams convert more leads into customers in less time. A CRM comes with features like:
- Create detailed customer profiles
- Analyze data and trends in customer behavior
- Track leads and conversations
- Measure progress and results with reporting and analytics
Moreover, a CRM provides a centralized database that can be accessed anytime and anywhere. This makes it easier for sales reps to connect with multiple customers in different timezones — leading to increased engagement in conversations and higher conversion rates.
2. Set daily goals
If you set daily goals that are challenging but achievable, it becomes easier for sales reps to see progress and stay motivated. When creating goals, keep in mind factors like workload and resources available — to ensure team members can complete their tasks on time.
Additionally, it’s important to put in place concrete systems that monitor your reps’ progress to help hold them accountable. This can include tracking milestones such as the number of calls, emails sent, or total sales.
At the same time, provide feedback about incremental wins and have regular meetings to make sure everyone meets their target number.
3. Gather high-quality leads
Generating high-quality leads allows sales teams to narrow down their pool of target customers and only focus on those who are likely to convert quickly. This in turn frees up more resources to dedicate to the actual sales process — due to fewer efforts being wasted on unqualified leads that don’t match up with your company’s target demographics.
Overall, this leads to a shorter sales cycle, more revenue, and fewer resources spent.
4. Improve sales team onboarding and training
Without an effective onboarding and training program, sales teams will take longer to reach full productivity. In contrast, by providing resources and support during this stage, businesses can create cohesive sales teams that are far more efficient and effective. A well-structured onboarding program should include information about:
- Target market
- Products or services offered
- Latest sales techniques
- Workflows and processes
5. Align sales and marketing
Data shows that businesses with effective sales and marketing alignment achieve 208% higher revenue. This is because they provide one another with critical insights that boost the performances of all team members. For example, sales teams can accept marketing-qualified leads — allowing them to focus their efforts on more valuable prospects instead of those that aren’t ready to buy.
The best way to align your marketing and sales team is to meet often, set shared goals, share analysis and reporting, and more .
What sales productivity metrics should you track?
Monitoring specific metrics allows teams to better understand their performance and how they can improve their sales productivity. Here are five to keep in mind:
- Conversion rate: How successful a team is at transforming leads into paying customers.
- Win rate: Measure the number of deals that are won compared to total sales opportunities.
- Pipeline waterfall: Quantifiable and granular view of how deals are progressing.
- Average deal size: Important insights into how profitable each sale is.
- Customer retention rate: The number of customers that continue to pay for and use your product or service.
How monday sales CRM increases sales productivity
monday sales CRM is a Work Operating System (Work OS). It allows sales teams to boost sales productivity with features like:
- Metrics: Create a KPI dashboard to track meaningful metrics. Additionally, you can Integrate your web analytics tools like Google Analytics or Salesforce with monday sales CRM.
- Collaboration: Team members can collaborate from anywhere and in real time. It allows sales teams to share ideas, projects, and more. The platform also comes with conferencing integrations.
- Visual pipeline: Sales reps can get an overview of pipeline progress. You can also view your data in pie charts and filter leads according to their status.
- Automations: Automate repetitive and time-consuming tasks with automations. monday sales CRM also comes with pre-built templates or you can build your own.
How do you measure sales productivity?
How you measure sales productivity depends on your company’s goals. Essentially, you’ll need to choose certain KPIs to track that are relevant to your sales team — and monitor them over a certain period of time. These can include measuring revenue goals, lead response times, average deal size, the number of customer contacts within a certain period, and more.
What are the best sales productivity tools?
Many companies use tools to increase sales productivity. After all, the best sales productivity tools help improve workflow, increase organization, and ensure that sales goals are met. Here are a few to keep in mind:
- Customer relationship management (CRM) tools
- Task management tools
- Web analytics tools
- Lead generation tools
- Time tracking tools
- Scheduling tools
Increase your team’s sales productivity with less effort
Increase your sales productivity by setting realistic goals, tracking metrics, gathering high-quailty leads, and more. Likewise, implementing a CRM system like monday.com sales CRM will supercharge your team’s performance. Get started with a free trial today.