It’s clear that using mobile devices in sales is no longer a “maybe” or “one day” thought. It has become an absolute necessity. Sales reps and buyers alike have voiced their approval, and companies would be acting in their own best interest to oblige.
What Is a Mobile Sales Tool?
Before we get into specifics on how to use mobile sales tools, it’s important to clarify what these tools look like and how they function.
A mobile sales tool can take many forms, from sales apps to online portals to PDF versions of your sales collateral. And, all of this stored on a mobile device.
Think of it as a scaled-down, portable version of what your in-house sales teams are using. The goal of a sales rep is to drive revenue, so they use a variety of tools to turn interests into purchases. This is often accomplished through CRM, catalogs, product sheets, e-commerce websites, order forms, product demo videos, or a host of other information.
Whatever selling tools you’re using, your outside sales team needs an easy, streamlined way to tap into them when facing customers. Mobile devices can replace many of the bulky hardcopy collateral you may be using. Instead, it presents a digitized, easy-to-access resource for sales reps.
5 Habits of Highly Successful Mobile Sales Tools
Not all mobile sales tools are created equal. The main goal is to simplify sales activities. But, there are times when digital sales tools can add complexity to the process, including excessive data entry, time spent searching for materials, and following lengthy workflows.
If you want to get the biggest benefit, consider the following five attributes the most successful sales tools share:
#1 – Real-Time Data
Having all the information you need when you need it isn’t just a benefit – it’s a necessity! Customers need certain information to make informed buying decisions, and if your data isn’t up-to-date, you could miss out on valuable opportunities.
Mobile sales tools should be able to deliver the same real-time data your in-house team accesses. Otherwise, your sales reps aren’t positioned to sell effectively.
#2 – Intuitive Design
Sales tools are only powerful if your teams know how to use them. Intuitive design can streamline tasks like data entry, search, and orders. This gives sales reps more control over their sales meetings and provides better service to your customers.
Spending less time and effort using the tools can shorten each visit and allow reps to make more sales calls each day.
#3 – Seamless Integration
Fragmentation can effectively kill any benefits you gain from using mobile sales tools. When systems don’t cooperate with each other, you risk adding confusion and chaos to your outside sales process.
For example, you may have to spend time entering orders from one system to another, which could result in missing details and order delays.
Your sales tools should integrate with the systems and processes your organization is already using. This not only ensures sales reps have the right data at their disposal, but it also saves time and money by keeping productivity at its peak.
#4 – Offline Capabilities
Internet connections aren’t always guaranteed when a sales rep visits a business. There may be no WiFi capabilities on-site, forcing companies to pay for expensive data plans or forgo using their sales tools when technology doesn’t allow for it.
The best sales tools allow users to work offline when internet connections aren’t present. Content can be forward-loaded onto devices in the event an internet connection isn’t available. This allows sales teams to access company and client data, place orders, record notes, and other sales-related tasks, which can be updated as soon as an internet connection is available.
As a result, sales reps can still deliver value during each meeting, regardless of connectivity. This enables reps to present and sell at all times while maintaining a strong, cutting edge impression.
#5 – Analytics
Studies show that sales companies who use analytics outperform those that don’t by more than 350%. But why?
This could be attributed to many factors, but it points at the fact that companies are using their own data to make informed business decisions. Studies show that analytics allow companies to make faster decisions in their market. They also better understand how each decision impacts other areas of the organization to avoid surprises that could derail your plan for growth.
Analytics from your sales tools are an important piece of the total puzzle. Mobile sales tools can collect myriad pieces of data, such as time spent within the app, content shown to prospective clients, and data collected at each meeting. Companies should use this data to gain deeper insight into the outside sales process and make informed decisions on how to improve interactions and drive revenue.
What Can a Mobile Sales Tool Look Like in Your Organization?
Mobile sales tools take many forms, and their look and function will be as unique as your organization.
In general, CRM remains the most common mobile sales tool. A CRM allows all customer interactions to be recorded, organized, and analyzed, giving sales reps and leaders clearer insights into what’s happening in the field. Managers can use CRM data to see how much time reps are spending with customers, what they’re presenting, how often they’re visiting each account, and other details to ramp up sales efforts.
Mobile sales capability is becoming less of an option and more of a need for companies focused on business growth. As mobile technology becomes more mainstream, reps and customers alike will begin to expect it.
LeadSquared’s Mobile Sales CRM brings all the best features and functions into a single solution. Try it free for 15 days to see how you can empower your outside sales teams for revenue growth.
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Sales funnel analysis may be the thing you consider least within your business. Even though you know that sales are fundamental to your success. A lot of businesses work this way, and there’s a good reason why.
The problem is caused by the terminology – the sales funnel. How exactly is that supposed to work?
The Sales Funnel
Your sales process is unique to your business but will most often be patterned after a popular sales technique. One of the most common forms of the sales process is known as a sales funnel.
The concept of the funnel is simple – many potential customers are poured in at the top of the funnel, and a few come out at the bottom ready to buy. In fact, it’s more like a water filter than a funnel.
With a water filter, a reservoir is filled at the top, and the water with all its impurities flows through a smaller channel. This channel blocks and filters out the undesirable elements, leaving pure water (exactly what you need) at the end.
The sales funnel filters out the people who aren’t interested, who aren’t ready to buy, who won’t commit. At the end, it leaves you with just what you want – the paying customers.
The Benefits of Sales Funnel Analysis
With a water filter, there’s no reason for the user to analyze what’s going on inside the filter until it becomes ineffective. When the impurities are coming through too often, the filter needs changing. This is true of a sales funnel (if too many non-buyers get right to the end, you need to change the process). But, you will also need to see what is happening inside to ensure you get the best results.
There are two things to monitor. First, the progress of individual leads within the funnel and the effectiveness of each stage of the funnel.
Individual Customers within Funnel Analysis
The benefits of being able to track individual customers include the ability to push them further and to build your ideal customer profile.
Someone may become stuck in the funnel, and don’t proceed but also don’t abandon the funnel entirely. Then, you need to know whether they are worth pursuing. By understanding how your customers think, you’ll be able to determine how to help this customer along to the next step.
You might know that your customers get stuck because they don’t like the pricing structure. More often, they don’t understand it fully. If that’s the case, contact this customer and clarify your pricing. Offer a discount if it will help.
Customers might get stuck because they don’t know enough about your products or services to make an informed decision. Get in touch and answer their queries, make it easy for them to make the purchase.
Knowing how your customers tend to progress will help you identify the most likely of all your leads to purchase, and you can concentrate your efforts on them rather than the ones who will never buy.
Funnel Analysis Keeps Your Business on Track
To further break down your sales funnel, analyzing each stage of the process and the number of people in each stage will help keep your business on track and maximize sales.
There are many variations on the sales funnel model, but it generally works by building awareness, generating leads, turning leads in interested prospects, closing the sale. Awareness is quite difficult to track and is more directly related to your marketing activities, whereas knowing how many leads, prospects, and people ready to buy is much more straightforward.
You may think the ideal situation is to get everyone into the “closing the sale” section. While this is important, a strong flow all the way through is more important.
How could it be more important than actual sales? Imagine this scenario – 10 people are ready to buy, you have 0 prospects and 0 leads. You close all 10 sales – well done! What next? There are no prospects to work on and you’ll have to start marketing to even begin the process.
A better scenario is to have 1 person ready to buy, 4 prospects, and 20 leads. You can easily move everyone through the funnel as you need to, and if your number of leads begins to drop, just bump up your marketing plan.
Funnel Analysis Promote Efficiency
Getting those leads into your sales funnel is important, but on occasion, you may find that the opposite situation occurs – you have more leads than you can handle.
Monitoring each step of your funnel will allow you to make a wise decision relating to this. Perhaps you need to cool off on your marketing activity, or maybe you need to change the requirements for each stage of your funnel.
You might even be in a position where your business is ready to expand – you might need to enhance and enlarge your sales team to cope with the extra demand. Again, without monitoring what is happening, you won’t know how to react most effectively.
You want your sales team to always be busy, but you don’t want them to be too busy to treat the leads properly. Extra-busy periods are fine, but when it becomes the norm rather than the exception, you may need to carefully examine how your business is performing. Then, make changes to ensure you always get the best from everyone – both your sales team and your customers.
Why Funnel Analysis Matters
You wouldn’t drive a vehicle without making sure there was fuel in it, and you can always check how much fuel you have – there’s an indication right there on the dash. You wouldn’t let your phone battery run flat if you could avoid it, and there’s an indication of the charge left right there on the screen.
It’s just as important to know exactly where you are with your business and your sales funnel. If no new leads are entering the funnel, you’re going to run out of sales/fuel/battery and can’t do anything about it. When you can’t make sales, your business can’t survive.
Get yourself a good CRM that can make your funnel analysis process much easier. Check out LeadSquared, trusted by 850+ customers across the globe! You can take a free trial and see for yourself.
https://www.leadsquared.com/wp-content/uploads/2021/11/img1-24.jpg600700Meenu Joshihttps://www.leadsquared.com/wp-content/uploads/2022/04/340-x-156-300x138.pngMeenu Joshi2019-05-16 18:38:332023-01-02 13:11:13What is Funnel Analysis and How it Can Improve Your Efficiency
On the surface, business process automation seems like an end-all solution to some of the business’s most tedious tasks. Automation uses technology to simplify or eliminate manual, time-consuming tasks, taking the human role out of the equation.
Adoption numbers support this story: 53% of B2B marketing organizations are using automation technologies, while 37% say they’re planning to implement them in some form.
It’s easy to see why: automation results in powerful deliverables to organizations of all sizes, budgets, and sales volume.
Process excellence will continue to be a key factor in driving success for businesses as MarTech marches forward. This guide covers what you need to know about business process automation and how to tap into its benefits.
What Is Business Process Automation?
First and foremost, business process automation is a strategy designed to improve or streamline a specific function or workflow using technology. Sales, management, HR, marketing, and production represent top priorities for many companies interested in automation technology.
Each process begins with a trigger action that sets the process in motion. The process follows a specific, consistent path depending on each subsequent actions that end in the desired result.
The goal of the process is to simplify the activities in the workflow and remove much of the manual, time-consuming labor associated with it.
Why Automate Business Processes?
Businesses automate specific processes for many reasons, but the benefits across organizations tend to remain the same. Let’s look at a few practice examples:
Save Time and Money
Automation in any form helps save companies time on tasks, and saving money becomes a natural by-product. When you can reduce the manual involvement of tasks, this gives your employees more time to focus on activities that add value to the company.
Reduce Human Error
Let’s face it: even the most meticulous of us are prone to some errors. It may be simple things like adding a lead to a wrong list or scheduling a task for the wrong date or forgetting to update the lead source. These tiny errors can be eliminated if you automate them.
Processes exist to create a standardized way of doing things, but manual mistakes can often affect the actual outcome. Automating processes takes the human element out of the equation to ensure consistent results every time. The more consistent your message, the easier it is for your leads to remember you.
In order for automation activities to be successful, you must first clarify what needs to happen in order to achieve the end results. The development process can provide clarity into your business to help you gain insights into how your business currently functions. As a result, you’re better positioned to build processes that will deliver on your expectations.
Improve Customer Service
When businesses operate efficiently and effectively, the customer ultimately benefits. You’re better able to meet their expectations and serve them to your standards.
Examples of Business Process Automation
Business process automation presents myriad real use cases, particularly in sales and marketing departments. Email marketing and lead management remain two of the top pursuits of organizations because of their cost-effectiveness and impact on business results.
For example, your lead management workflow may be triggered when a lead is collected from a landing page. From there, you can use automation to qualify your leads for sales, score them based on their likelihood to buy, and assign them to the appropriate sales rep—all with no manual involvement from you!
Email marketing is another top contender, with nearly 70% of businesses using some form of email nurturing in their strategy. Email workflows can benefit sales and marketing teams alike:
For example, sales reps can use email automation to confirm meetings and appointments, create touchpoints with interested buyers, and build top of mind awareness without having to press the Send button themselves. Marketers can also benefit from email automation by sending mass campaigns based on buyer segments.
Tasks that need audit trails for compliance purposes
Interlinked tasks with other processes or systems
Tasks that require multiple people to execute
Let’s put the above criteria into perspective:
Creating case studies
Assigning leads to sales
Automated responses/customer support
This isn’t meant to be a comprehensive list, but it can help you to recognize the potential that process automation can bring to your business.
How LeadSquared Enables Business Process Automation
One of the biggest barriers to automation adoption is the complexity of implementing various systems to create a holistic appeal. Businesses may spend time automating certain activities without realizing how those tasks impact existing systems.
LeadSquared helps to solve this problem by providing a single, comprehensive solution to business process automation. We’ve combined powerful tools for sales and marketing automation that result in seamless workflows to support every step of the customer journey.
Take LeadSquared for a free 15-day test drive and discover how you can put the power of automation to work in your organization.
https://www.leadsquared.com/wp-content/uploads/2021/11/Business-process-automation-banner.jpg4501000Meenu Joshihttps://www.leadsquared.com/wp-content/uploads/2022/04/340-x-156-300x138.pngMeenu Joshi2019-05-16 18:34:062022-12-29 21:40:57Business Process Automation: An Abridged Guide
Companies that upsell drive 70-95% of their revenue from upsell and renewals.
Assuming your business makes a straight percentage on every sale, the higher priced items you sell, the better it is for your profit figures.
Interesting, isn’t it?
Through this article, we aim to make you a pro at upselling. We’ll explain what is upselling with some compelling examples, how is it different from cross-selling, how to identify upselling opportunities, and finally the tools and techniques you can use to ace upselling.
Upselling is a sales technique where a seller invites the customer to consider/purchase more expensive items, upgrades, or other add-ons to generate more revenue. It usually involves marketing more profitable services or products. However, it can also be simply presenting options to the customer that they did not consider before.
Note, in upselling, it’s always the same category and style of product or service, not a complimentary product. So, if you work in a pet store, it’s not selling dog food and a dog leash together. It’s selling a bigger and better version of dog food.
Upselling techniques work by satisfying the needs of the customer completely – or exceeding them. Where a single scoop of ice cream may have been on the customer’s mind, a double scoop will definitely delight them. Let’s look at some more examples.
Example of upselling in a travel business
Your business will most likely sell things that solve a problem for your customers, and to begin with, most customers will aim for the cheapest option that does what they need.
For example, if your customer is planning a trip from New York to London, they’ll book a seat on a flight, and that’s it. That seat could be in the center aisle, in between two people who occupy too much room, with the least comfortable cushion imaginable.
The upsell turns this into a first-class ticket with a recliner window seat, in-flight meal, glass of champagne, movies of their choice, and so on.
The result is the same – the customer gets on a plane in New York, flies for several hours, lands in London – but the experience is very different. The need was to travel from one place to another, and both ways ensured meeting this requirement. The latter made sure every expectation was met and exceeded.
Example of upselling in restaurants
Some restaurants offer premium variations in their menu. For example, you can opt for gluten-free or vegan variations. That’s the way restaurants upsell.
Here’s another example. Some restaurants offer two dining options – à la carte and buffet. A buffet is generally priced higher, and those opting for it can have unlimited food from the menu. So, in a way, people are paying a higher price for almost the same quantity of meal. This is another technique of upselling in restaurants.
Example of upselling in banking
You must have encountered this. A bank representative gives you good reasons to upgrade your basic, entry-level credit card to a premium one. That’s an example of upselling in banking.
By now, you must have understood what is upselling and how it works. However, because the terms upselling and cross-selling are often used together, some may find it a bit confusing. To avoid any sort of ambiguity, let’s look at the difference between upselling and cross-selling.
The difference between upselling and cross-selling
It is the process of persuading buyers to purchase more expensive items, upgrades, or other add-ons to generate more revenue.
It is the process of selling additional products or services to customers.
Selling business class tickets to a passenger from New Jersey to Denver.
Selling meals and merchandize to a passenger from New Jersey to Denver.
Add items to get free shipping, customers also bought, shop the look, bundled products, post purchase recommendation
How to identify upselling opportunities
From the very start, use tools like opportunity management CRM that lets you understand the needs of your buyers. You must know what they want to buy from you and if there is any way you can sell them a bigger and better version in the future. Some of the signals that indicate upsell opportunities are:
Your customer seems to be more interested in the higher version of your product and is rigorously comparing prices. In this case, either the customer is price sensitive or is just looking for a good reason to buy that upgrade.
The customer clicked on one of your ads for an upgraded product. You can track such activities in your sales CRM and even create alerts for them.
You know they need an upgrade, but something is holding them from doing so.
Segment such leads into a list and consistently nurture them. This way, you can plan your targets better and set a timeline to pitch them. In fact, acquiring new customers is more cumbersome than retaining old ones. Upselling to existing customers can help achieve your sales goals in a short time.
Many businesses must be already using upselling techniques. Perhaps you provide a silver and gold service – you’re already doing it.
But if not, start looking at the products or services you sell and see how you can change it up. You might find that you need to go the other way, as what you have is already the gold package. Design a silver package to sell with the least resistance, and then upsell to the gold, as it may be easier than selling the gold from the very beginning.
Your upselling strategies should encompass solving the problem that your customer has. As the better you can solve their problems, the more likely they are to buy from you.
Now, let us take a look at some upsell techniques you can use for your business.
1. Pitch a relevant upsell
You need to understand the type of upselling your customer would appreciate instead of just pushing any old upgrade at them.
Many people make a mistake here. For instance, if a customer is looking to buy apples, try selling them sweeter and better-quality apples instead of convincing them to buy oranges.
2. Provide consistent value
Most businesses assume that their job is over when they have closed a sale. They think they only need to worry about that particular customer again when it’s time for a renewal or a possible upgrade.
It is wrong to assume that the customer will be ready to upgrade as soon as you ask them. The fact is – you need to nurture them, even after the sale.
Send them newsletters giving them news about your company. It could contain product updates, events you are hosting, or even discounts that you have going. At the very least, a simple phone call once in a while can go a long way.
3. Help. Don’t sell.
Always look to add value to the customer. Don’t just say – “buy a pro plan because it is better.” Instead, tell them how it is better for them. That is, take a consultative approach.
For example, say a person is struggling to meet his health goals. He is currently using your app to track his meals and daily steps. However, you also have a higher plan to give him a customized meal plan and monitor his progress. So, you have to tell him how this plan can help him meet his goals and make his lifestyle healthier.
4. Price correctly, offer a discount
Add-ons should typically be priced at less than 50% of the core offering.
If your customers do not buy a product because it is expensive, try giving them coupon codes or a one-time discount. Monetary incentives always work.
However, that doesn’t mean you have to give your product for free. Determine a reasonable discount or club it together with another related service (for example, free shipping) to make it more appealing.
5. Create a feeling of urgency
Give your customers a time-bound offer. Tell them why availing it in this particular period could be beneficial. Remember to price them wisely and know which products are more likely to get them to purchase.
For example, say you sell an online music subscription with a free and paid version. You can offer a quick ‘Christmas offer’ where the prices are slashed only for a limited time. It may entice them to subscribe.
6. Before upselling, check if your customers are happy with your product or service
A happy customer equates to a flourishing business! But no matter how hard you try, there will be times when the customer is not so happy with you. Look out for such signs and try to resolve them quickly.
Imagine being unhappy with a product or service, and instead of fixing it, they ask you to pay more for a higher version. In all likelihood, you would stop buying, or you may even spread negative word of mouth.
7. Convince them with real-life examples
Show them how people who have used the upgraded version could solve problems (similar to what your prospect is facing currently). Most of your leads would not take your words seriously. It’s your business, of course, you have only good things to say.
Instead, display the opinions of their peers who are also buying and using the same product/service as them. It will convince them better than anything you have to say.
8. Follow-up constantly
Remember that upselling is still selling. So, don’t let your customer go with just one small sales pitch. Keep nurturing and following up with them to push them into that upgrade.
9. Bonus – How to upsell online
With the rise of e-commerce, face-to-face interactions have reduced. It may look like opportunities to upsell have also been reduced. But, in fact, with online sales, upselling has become easier. It allows you to upsell more subtly than in-person upselling, which looks pushy sometimes.
Here are some proven ways to upsell online.
#1 Offer customization
Let’s take the example of Deliveroo, a British online food delivery company.
During checkout, they give customers options to customize their orders. Certainly, a great way to upsell.
The learning from this is—offering customers options to upgrade when they’re already in the mood to buy can help increase your profit margins.
#2 Show pricing and additional features in the higher plan side by side
To understand this, let’s take the example of Typeform. They show what you get in different tiers. Customers, who have specific needs, can opt for the higher plan because they’re now well aware of the limitations of the lower plans.
#3 Show bigger discount % on premium products.
Let’s say, your favorite brand offers a 60% discount on item A and 40% on item B. What will you choose?
Well, most likely, the product with a bigger discount percentage. Even if item A is priced higher than item B, most people will find the former more lucrative because of the higher discount value.
So, you can offer big discounts on your premium items. You can also apply this technique with a limited period offer to create a sense of urgency.
#4 Allow easy upgrade (even after the payment has been made)
You’ll usually find this type of upselling in travel and hotel bookings. They allow travelers to easily upgrade their booking to a sea-facing suite, early check-in, etc.
The idea is to reduce the friction if anyone wants to upgrade.
Can you sell anything with the above upselling techniques?
Within reason, yes. The product you are upselling must match the original in the way it provides a solution to the customer’s problem, and the price increase must not be too much as to act as a deterrent if the improvement is not that great.
Let us take an example.
If you work in an industry selling car tires, your price for a set of 4 standard tires is $100. The upgraded version offers twice the grip and so is twice as safe, and therefore costs twice as much – $200.
Many customers will go for it, based on the perceived benefit – it is twice as safe. Others won’t because it is a drastic price increase. However, had the price for the better version been $150, more customers would have chosen the second option.
However, don’t forget that you can upsell the upsell. Maybe you have three levels of tires – the original at $100, the improved version (better grip in wet weather) at $150, and the double grip version at $200. You will probably sell more of the $150 and $200 tires in this situation.
You will find a range of tools that support the sales process in some or the other way. But when it comes to upselling, you need to find tools that complement your upselling techniques.
For example, if you’re an e-commerce brand, tools that support the sales of your premium products are helpful. Similarly, in B2B, tools that alert salespeople, whenever there’s an activity in their account or lead, are very helpful.
Let’s look at some tools that support the upselling process.
LeadSquared Opportunity management CRM to spot upsell opportunities based on direct inquiry, ad interactions, referral sources, and more and send relevant communications automatically.
If you’re an e-commerce brand, you’ll need tools to provide custom product recommendations. Adobe Commerce is great for this.
Again, for upselling online, you may want to test customer engagement, conversions, etc. A/B testing tools such as VWO are of great help.
To create discounted upsell and cross-sell products such as buy X get Y, percentage, and fixed amount, frequently bought together, you can find local apps in the Shopify app store or other platforms you use.
You’ll also find software that makes it easy to upgrade your booking. For example, ROOMDEX automates the hotel upselling process.
Finally, you’ll need tools to measure revenue through upsells. Generally, your CRM should or the e-commerce platform you use provides that data.
How do you measure upselling?
You can use CRM software to measure revenue generated through normal sales and upsells.
It completely depends on the levels of product variations you offer and your target segment. However, companies that do it right can drive up to 70-95% of their revenue through upselling.
Is upselling the same as cross-selling?
Upselling is the process of persuading buyers to purchase more expensive items, upgrades, or other add-ons to generate more revenue. On the other hand, cross-selling encourages buyers to buy additional products. You can continue with this article to learn more about upselling and go through this article for a better understanding of cross-selling.
What is down selling?
Down-selling is a sales technique where a seller offers a more budget-friendly alternative to the product or service initially considered by the customer. It is used when customers show budget constraints or refuse to make a purchase altogether.
Are upselling techniques ethical?
Yes, they are. It should never be your intent to deceive your customer or sell a product that doesn’t do what it claims to do. If you are satisfied being transparent with your customers and that your products and services are as good as they claim to be, there is no issue with offering upsells. An upsell should always be better than or outperform the original goods or services. Otherwise, there will be no incentive for your customer to choose the upgraded option. If your customer can afford the cost and wants the best solution, they will choose the upsold items. Otherwise, they won’t.
https://www.leadsquared.com/wp-content/uploads/2021/11/banner-4-2.jpg4501000Meenu Joshihttps://www.leadsquared.com/wp-content/uploads/2022/04/340-x-156-300x138.pngMeenu Joshi2019-05-16 18:30:542023-01-02 21:12:399 Upselling Techniques That Work Like a Charm
Sales leads are one of the most important things your business needs to thrive. Paying customers are THE most important thing, but you very rarely get a paying customer without them being a lead first.
Sales lead software can help you acquire and manage leads right from their very first indication of interest up unto the point that they make a purchase. Keeping track of where your leads are in your sales process is of great importance if you want to maximize your ability to make sales.
Automating the Sales Process with Sales Lead Software
Every business has an individual process, and because it is a “process”, there are parts of it that get repeated time and again. This is great in one respect, as all your customers will have come through each stage of the process and so will be primed to purchase.
But for the sales team, it can be time consuming and unproductive.
Imagine that every time a new visitor landed on your website, you had to manually send an email to say “Welcome, here’s some info about the product you looked at” – it would soon get frustrating. Especially so if you had a high volume of visitors every day, as your sales team would have all their time taken up by sending emails rather than selling products!
Sales lead software can monitor visitors to your website and take care of this process automatically. It can also monitor clicks in the emails that are sent, and further refine any future communication based on this. Estimations can be made on whether this particular customer is more interested in the function of a product…or the price.
This will lead to a better experience further down the line for the customer and the sales team as the needs of the customer will have already been identified.
Perhaps just as importantly, a lot of work has gone into getting this customer ready to talk to a human member of the sales team – but very few man-hours of work have been used, other than in the initial set-up of the system.
A further automated step can assign a task to the sales team to call or email the lead at a given time, and so the process is smoothly handed over from the automated system to the sales team.
Identifying the best leads
Every salesperson knows that every lead is not equal, and there are a number of pointers that will indicate which leads are the most likely to turn into paying customers.
These pointers will vary depending on your business, but by identifying them within the sales lead software will enable you to score every one of your leads. The higher the lead scores, the more likely they are to convert into a paying customer.
You might think this is unimportant – after all, there’s a lot of leads coming through, and they’ll all become customers eventually. While this may be true, it’s also true that every business needs an income to survive. Why wouldn’t you work on the easiest conversion first?
This assures cash flow and gives you the breathing space to spend the time needed to convert those trickier leads into customers – it’s a win-win situation as the sales are made and the team has the opportunity to bring in further revenue that they may have otherwise struggled to secure.
Sales Lead Software – Closing with CRM
To a highly skilled salesperson, closing a sale may be second nature. However, not every salesperson is gifted in this way, and even the skilled ones might like to make it a little easier for themselves.
As the sales lead software has tracked the leads all the way through the sales process, a profile has been built of their likes, dislikes, needs, and requirements. Sales team members will have been able to add notes and information to this profile, building up a comprehensive picture of the lead.
This gives a fantastic advantage to the sales team as they can make sure the product or service they are offering matches exactly what the customer wants.
By offering something that the customer wants and identifies with, the chances of closing the sale increase exponentially. The customer feels you are working in their best interest, and not just in the interest of the business. In truth, both the business and the customer are benefitting in this instance.
A true relationship has been built with the customer – even if the final salesperson is not the one who has dealt with them before, they’ll be able to read the notes and understand where the customer is coming from.
When the customer feels valued through a relationship like this, further opportunities open including the chance to make repeat sales later on. Remember, it is much easier to sell a second product to an existing customer than it is to sell any product to a new lead.
The Benefits of Sales Lead Software
Many businesses run without the use of sales lead software, and they are successful. The fact of the matter is that by using such software your sales team will have a much easier time handling leads and closing sales.
Additionally, you’ll be able to get an overview of your entire sales process. You can see how many people have just entered the process, how many are getting ready to buy, and how many are putting their hands in their pocket to pay. You can adjust your sales tactics as necessary to draw more quality leads through as needed, and change your brand awareness advertising if not enough new people are entering the system.
The biggest benefit of all is that sales lead software puts you in control. You are in the driving seat, and you can make the decisions that directly affect sales in an organized and planned way. You don’t have to guess who to call next, you don’t have to waste your time sending emails that a computer could handle, and you can focus your time directly on the leads who need it most.
And when this leads to building a lasting relationship with a customer, the value of sales lead software cannot be overstated. Looking for one? I’d recommend LeadSquared. Comes with lead capture automation, sales tracking and detailed analytics. Check it out for yourself.
https://www.leadsquared.com/wp-content/uploads/2021/11/banner-2-4.jpg4501000Meenu Joshihttps://www.leadsquared.com/wp-content/uploads/2022/04/340-x-156-300x138.pngMeenu Joshi2019-05-16 18:27:422023-01-02 13:08:30What is Sales Lead Software – The Why and How!
Sales management sounds simple enough. It seems like it should just be taking care of sales and making sure the customer is happy, but in fact, it is a lot more than that.
The actual functions of sales management include overseeing what the sales team is doing, making plans and setting targets. It also includes generally ensuring the efficiency of the sales process to get the best result for the business.
What is sales management?
Before, anything else you need to know what sales management is and how it works. There are two main parts to managing your sales team. The first is the person-management, making sure everyone knows what they are doing and what is expected of them. The second is keeping track of sales that have been made.
To keep everyone on track, you need to set goals and targets, that the team can aim for. In addition, a to-do list or diary should be used to make sure each team member does what is needed at the right time.
This might be making calls, sending messages, or attending meetings in person. Sales meetings are often one of the most difficult aspects to manage as they can take place at the customer’s location. The salesperson must get there on time, have all the information they need with them, and potentially get away in time to get to their next meeting.
Comparatively, it is quite straightforward to keep track of sales. This is because sales will be recorded on a centralized system with the option of easily running reports. If the sales are too low in a particular period, you can offer encouragement and solutions as necessary.
Functions of sales management
There are various ways in which sales management helps a business to streamline their sales process and increase their ROI. You can refer to these ways as individual functions of sales management. Let us take a look at how this works.
Previous Performance and Setting Targets
One of the functions of sales management is to ensure that targets are reached, but targets that are set too high will never be reached. By running reports on sales figures over a period of time, especially those produced by current members of the sales team, you’ll be able to calculate the most sensible and achievable target for individuals and the team as a whole.
Of course, previous performance does not always indicate how anyone will currently perform. There may have been changes in the products that are available or the locations that your sales team serve. You need to factor in those differences when you are setting targets.
Managing the Sales Process
At any given time, there could be a large number of potential customers working their way through your company’s sales process. Another function of sales management is to make sure that each lead is dealt with promptly and correctly.
Identifying the best leads is a key factor in increasing the sales figures for the business. Converting those who are ready to buy into full paying customers is easier than getting the person who only has a passing interest to part with their cash.
Improving process efficiency
This leads to improving the efficiency of the sales process. Finding the best leads is a step that is near the end of the process. But, optimizing and improving the process as a whole will bring more good leads through more quickly.
The flow through the sales process should be constant. From newly interested people to fully qualified leads that are ready to buy, and the more you can automate it, the better.
Instead of having to worry about every little detail, using a software solution to automate particular tasks will make everything run much more smoothly. Say, a customer lands on your website and has shown an interest in a particular product. Ideally, you might have a whole team (or a certain salesperson) dedicated to that one product. By assigning the care of that customer to the right team or salesperson, their needs will be better met. And, the likelihood of a sale increases dramatically.
In the same way, sending out an automated email with similar or related products on will help build a relationship and create interest for the customer. To do this manually may take some time. But once configured, such a system does not need to be interacted with again by the sales team.
But, what if the customer does not purchase through the automated nurturing? Then, you can assign tasks to the sales team for manual follow-up.
Monitor salespeople’s performance
As mentioned earlier, the production of reports is essential to see how the business has progressed over time. An aspect of sales management that should not be overlooked is team leadership. Basing your actions on the cold hard facts presented by current and historical reports will enable you to get the best out of your team.
Congratulate those who deserve it and encourage and re-train those who are struggling. If there’s still no hope for the underperformers after giving them a fair chance, it may be that sales is not the field they will excel in.
Get detailed reports on a dashboard
Remember, working as a sales manager is not the top position in the company, and you will have to present reports and justify decisions to people higher in the chain than you. When you can back up everything you say with evidence, it will make the information much easier to present.
Always use the full information available to you. The geographic location of salespeople, the products being sold, even the time of year can have an effect on the sales figures. Imagine how poorly a salesperson might perform selling Christmas decorations in a country that doesn’t celebrate Christmas…in the middle of summer. Take that same salesperson selling the same items in December and place them in Illinois, and they will probably sell a lot more!
To be clear, sales management is not just about telling people what is expected and trying to get them to hit targets. It’s using the information at your disposal to find the reasons that things happen and using that information to your advantage to get the best out of your sales team.
This might involve making many changes to the way the team operates, but that’s what management is all about – using what you already have in the best way possible.
https://www.leadsquared.com/wp-content/uploads/2021/11/banner-3-4.jpg4501000Meenu Joshihttps://www.leadsquared.com/wp-content/uploads/2022/04/340-x-156-300x138.pngMeenu Joshi2019-05-16 18:23:492023-01-02 15:08:15What are the Functions of Sales Management – A Complete Guide