LeadsCon 2016 kicks off today in Las Vegas at the start of the NCAA tournament (AKA March Madness), so what better topic to pair with the event than college basketball.
If there is one thing you can count on during March Madness, it’s an upset. The unpredictable nature of the tournament might be exciting to watch on TV, but the same can’t be said for experiencing chaos on your sales team.
If your sales results are unpredictable and giving you a case of lead madness, you have some work to do to up your sales game. Here are four tips to help your sales team achieve superstar status:
1. On the court or in sales, speed without control can lead to disaster.
Many sales teams today have a CRM solution and a dialer to speed things up. While a dialer may drive more activity, if it isn’t the right activity, it won’t be enough to significantly improve sales outcomes. Sales leaders need to be relentlessly focused on controlling the sales workflow to ensure that any increased activity is producing the desired results.
Joseph Semrani, a mortgage banking executive at M&T Bank in the West Region Mortgage Division, knows the importance of a well-defined and consistent sales approach. After implementing a guided sales process across his entire team, he was able to achieve 90% contact rate, 50% qualification rate, and a 3% to 5% conversion rate on competitive internet leads – results that are almost unheard of in the mortgage space.
2. Put the ball in the right hands for the best outcome.
In sales, that outcome is often determined by getting the right lead, to the right rep, at the right time. Distribution rules that send higher-quality leads to reps who get good results and successfully follow the sales strategy encourage everyone to adopt the best practices that lead to more conversions.
In our experience, a typical rep can more than double their lead conversion by receiving more leads similar to those that they have been found to be “skilled” at converting.
3. The most effective strategies are backed by the right data insights.
A recent McKinsey study found that those organizations that effectively use big data and analytics to drive productivity are 5% to 6% more profitable than their peers — validation that sales organizations that succeed aren’t necessarily the ones with the most data, but the ones using it best
The right data can help ensure your highest priority leads are maximized, your workflow is optimized, and that your team is operating at peak level.
Take forward-thinking insurer and Velocify client GoMedigap, which counts sales activity prioritization as a key performance driver. “The prioritize queue is incredible,” said Kevin Walbrick, chief operations officer at GoMedigap. “The salesperson gets into work in the morning, they turn on their computer, and they go down the list and make calls. They don’t have to worry about which call to make, which one makes more sense. The sales workflow rules and data does that for them.”
4. Knowing the score in real-time can energize the whole team.
On the court and in sales, the current score is a huge driver of both strategy and motivation for the team. Some would even say that sales is a competitive sport. Your sales reps know they’re competing, so help them check how they’re doing during the day. Leaderboards allow you to see who’s ahead, in real time, anytime throughout the work day. Knowing how you measure up at any point in the day can help each rep focus on what needs to get done to reach daily goals and get them to MVP status.
Don’t let your sales team fall victim to a March Madness meltdown. Have a clear game plan, incorporate these steps into your training routine and you’ll be well on your way to superstar status!
To learn more about how you can grow your sales through improvements in your sales process visit Velocify at LeadsCon. Learn more about what we have planned here: velocifytcm.wpengine.com/leadscon2016/.
Meet the author: Josh Evans joined Velocify in 2007, and is senior vice president of sales. Josh is a seasoned professional with more than 10 years building and growing sales, customer support and customer engagement organizations in the technology industry. Josh oversees Velocify’s sales organization, both the field and inside sales teams. He can be reached at firstname.lastname@example.org.