Your reps also know the importance of following up with prospects after a sales call. That’s a necessary part of their skillset, too. After all, sales, especially B2B sales, are based on strong, trust-filled relationships. The follow-up after the initial sales meeting is simply the next step in that important process.

However, these follow-up communications are no longer as simple as just making a call. In 2019, there’s more to think about. In the midst of a hyper-competitive, fast-moving marketplace and everyone’s busy day-to-day environments, it’s essential to follow up in a way that cuts through the noise and helps you make valuable connections.

Here are the essential post-sales call practices you and your reps should be following.

Make a follow-up plan

Your starting point is recognizing that the most effective sales reps don’t do things willy-nilly. They make a plan.

Now, don’t get caught up in the word “plan” and worry that this means you need a comprehensive strategy. On the contrary, this can be done in a quick-and-dirty manner. It may even be better to think of the end product as an “informed approach” rather than a detailed plan.

Whatever you call it, the point is that a fruitful sales process always has some deliberate thought behind it. As the first step of your post-sales call follow-up, sit down and sketch out the way forward with your prospect.

Timing doesn’t matter — but other factors matter

Most sales reps are comfortable with the idea of making a follow-up call. But everyone worries about the timing.

When should I call? If I call right away, will I seem overeager? But if I call too late, will I appear uninterested?

Calm down. There is no definitive answer to these questions.

Well, actually, there is a best answer. And here it is: the right time to call is as soon as you confidently answer some key questions about the potential sale.

Answer these questions to inform your follow-up

In order to build your “informed approach,” take some time to consider the following questions before reaching out to your prospect.

Review your notes from the sales call meeting, and ask yourself: “What is the prospect’s principal business problem they need help solving?” This is what the prospect cares about, and it’s what you should care about as you prepare your follow-up plan. Those pain points will help determine the tone, message, and channel you use.  

What is the prospect’s “customer lifetime value”? The customer lifetime value (CLV) is the monetary value of a customer’s lifetime relationship with your business. The CLV has many purposes, including setting marketing priorities, but it also helps turn the company’s forecasting practices from quarterly earnings to a more customer or relationship-based perspective.

Has your sales enablement team provided you with materials such as a buyer persona? A buyer persona is a strategic document containing generalized buyer profiles based on your target customers’ industries, sizes, regions, business models and growth priorities. It’s essentially a cheat sheet to help you formulate your communication plan.

Have you identified the decision-makers? You’ve spent a lot of time thinking about what you’re going to say. Just make sure you’re saying it to the right person. Directing your communications toward a non-decision-maker isn’t a winning strategy.

Furthermore, what is the decision-maker’s main priority? Are they looking for better workflow management or customer management? Are they mostly focused on cost or time savings?

Answering each of these questions will help you determine the what and who of your follow-up strategy.

Engage using different channels

Your immediate follow-up connection doesn’t have to be a standard phone call. Keep in mind that different generations are accustomed to communicating using different channels. Baby-boomers are phone call people. Gen X people are emailers. And Millennials and Gen Z use social media in the same way their parents used the telephone.

Engage with non-sales content

Similarly, your follow-up connection doesn’t have to pertain to the product or service in question. Instead, you can slowly build engagement with a prospect in many different ways. For example, consider the following ideas:

• Sharing free content produced by your team: thought leadership pieces, white papers, infographics, etc.
• Sending industry analyses or business insights
• Asking them to participate in opinion surveys
• Providing helpful resources and tools like buyer persona templates

Engaging your contacts with non-sales content is a great way to highlight what your company offers and show that you understand their struggles while giving them something free they can use right away.

Follow up with a clear intent

Saying, “Hey, I’m just checking in” doesn’t really cut it as a sales tactic. Those types of follow-ups don’t tend to yield many results.

You should always have a clear reason for following up with a prospect. And here’s a hint: having a simple reason is a perfectly valid reason! It could be as straightforward as sharing a piece of content (like a blog post or a white paper) that you saw and thought they’d be interested in, as discussed above.

Here’s one better: if your prospect is actively pushing their own content online, respond to it and offer your appreciation for their insights and perspectives. That’s another great and easy reason to continue the conversation.

When you reach out, it’s important to have a handle on why that content matters to you and your prospect, as well as how it relates to the problems you can help them overcome. Don’t leave those things unsaid — tell them directly! You should also be ready to suggest the next step, such as offering another meeting or a complimentary demo of your product.

Use technology to develop your follow-up strategy

A customer relationship management (CRM) solution is a great tool to help you develop your follow-up plan, keep your sales pipeline moving and turn those prospects into paying customers. For instance, a QuickBooks CRM like Method can help you manage every part of the sales process, including:

• Capturing new leads
• Tracking your interactions with prospects
• Maintaining a shared team calendar with reminders for follow-up calls and appointments
• Updating your sales opportunities as they move closer to closing
• Creating estimates for prospects without cluttering your QuickBooks file

Conclusion

No two prospects have identical needs and goals, and this means that no two sales follow-up processes can be identical. However, there are certain follow-up strategies that can increase your chances of success. With these best practices in mind, your sales reps will be ready to effectively connect with prospects and turn them into loyal customers.

The post After the Sales Pitch: Post-Sales Call Practices to Help You Close the Deal appeared first on Method.

These sales pipeline stages are the process by which prospective customers are moved through the buyer’s journey and converted to paying customers.

Based on our observations, the terms “sales pipeline” and “sales funnel” are often used interchangeably. But these terms actually mean very different things. 

Your sales pipeline is the specific sequence of actions your team takes to convert sales leads into closed sales. This includes every tactic used from sales outreach to negotiation, and hopefully ends with a signed contract.

Let’s say your salespeople have a meeting with a prospective customer regarding pricing or the benefits of your product. That’s one of the activities comprising your sales pipeline.

Your sales funnel, on the other hand, is a visual representation of the proportion of leads that pass through each stage of the pipeline. So, your sales funnel gives you an overview of your sales process and the opportunity to gather insights from it.

This makes it one of your most valuable resources.

Together, these two concepts are used as tools by all successful sales teams to optimize their lead conversion rates. As per our expertise, a salesperson who gathers tips and generates goals around their sales process and sales funnel gives their business a leg up in its industry.

Take the guesswork out of your sales pipeline stages

Our findings show that without a clearly-defined sales pipeline, you run the risk of missing opportunities to support valuable leads and convert them into long-term, repeat customers. From lead generation to closing deals, a sales pipeline keeps your business on track at all times.

Luckily, CRM solutions like Method CRM make it simple for sales reps to track opportunities in a standardized way.

By setting up your preferred sales pipeline stages in a CRM, reps can quickly update opportunities as they progress. They can also easily identify which deals are closest to closing so they can focus their time and effort accordingly. 

As leads show more interest in becoming customers in their conversations with your salespeople, you can reflect this in your sales pipeline. From there, you can adjust your approach to focus more on those hotter leads, like sending personalized emails for instance.

This makes sales pipeline management a breeze even as you achieve revenue goals and grow as a business. Drawing from our experience, it also makes life easier for your sales managers as your numbers get harder to manage.

By monitoring every sale from start to finish in a centralized system, you can measure your conversion rates at different stages and use this data as a guide to refine your sales strategy. You get total visibility of all the factors affecting your sales, all in one place.

Of course, the fact of the matter is that every company has a unique business model, so there are no “standard” sales pipeline stages that will suit every team’s needs. However, our findings show that the sales pipeline stages outlined below are a good starting point for many types of businesses.

A more in-depth comparison of sales pipeline vs sales funnel

Still confused about the difference between sales pipelines and sales funnels? Before we take you through a typical sales pipeline, let’s discuss what a sales pipeline is and isn’t.

A sales pipeline is a sequence of stages that consumers pass through to become customers. Consumers can move on to each stage after completing the one before.

Meanwhile, our research indicates that a sales funnel is more customer-focused. It shows you the steps that a consumer goes through to go from a prospect to a customer. 

While a sales pipeline tells the story of how sales reps win customers over from stage to stage, a sales funnel shows the rate at which prospects are converted through each stage of the pipeline. As per our expertise, both provide valuable yet different insight into your sales activities and performance.

Our research indicates that a sales funnel typically has three major stages independent of sales cycle length: 

• Top of the funnel (TOFU), which comprises the awareness and discovery phases.
• Middle of the funnel (MOFU), which includes evaluation and intent.
• Bottom of the funnel (BOFU), which is where purchases finally happen.

A sales pipeline, on the other hand, looks like this: 

1. Prospecting: Identify the interest level for your product or service

Your sales pipeline should always start with prospecting or identifying your lead’s level of interest in your products or services.

Chances are, you’ll observe the highest amount of interest and activity among prospective customers who fit your marketing personas.

These personas act as representations of your target buyers and are based on the demographics and behavior of your existing customers and stakeholders.

This type of person will presumably have more of an interest in what you sell and a higher conversion rate when nurtured across every sales pipeline stage.

2. Qualification: Qualify your leads to determine value

Qualification of your sales leads is the next stage of the pipeline management process.

You will need to use certain criteria to identify which prospects are most likely to make a purchase and therefore should be pursued further. The lead’s interest level and marketing persona alignment (as determined in the previous sales pipeline stage) are important criteria. Other key items to look at include budget, need, and timeline for purchasing.

You can automate this qualification process with your CRM software or complete it by hand using a lead qualification template.

3. Needs analysis: Determine if your product or service solves pain points

At the needs analysis stage, sales reps need to take a step back and look at their products and services from the customer’s perspective. Through our practical knowledge, at this point, you should ask yourself: Where is the customer coming from and what problems are they trying to solve?

The goal here is to assess exactly how your company’s offerings can resolve certain pain points. And if the answer is that they can’t, that’s okay too. It’s better to realize this early on than to try to force a sale that won’t benefit the buyer.

4. Value proposition: Assess the value of your product or service

The fourth sales pipeline stage relates to your value proposition. This stage gives sales reps a chance to assess the value of their offerings in the scenario at hand.

Using the information gathered in your needs analysis, you must determine how valuable a customer would find your products or services, based on their pain points. Our findings show that this will improve your ability to promote your products or services in a way that speaks directly to the buyer, rather than simply stating the specs.

5. Identify decision-makers: Cultivate relationships with key contacts

In a lot of B2B sales scenarios, the individual you sell to isn’t the person who ultimately has the power to pay you. Based on our firsthand experience, at this sales pipeline stage, you need to identify and engage with key decision-makers.

Ask your current contact or do your research to find the person who makes the purchasing decisions at the company or organization in question. You must then reach out and cultivate a relationship with this individual in order to get closer to closing the sale.

6. Perception analysis: Weigh client perceptions against reality

Our research indicates that in the sixth sales pipeline stage, you have to consider that the actual value of your products or services does not always match their perceived value. 

The buyer’s impressions of your offerings and your company play a big role in your team’s ability to close the sale. Not surprisingly, our findings show that leads who already hold positive or neutral perceptions at this stage offer the best outcomes for you.

However, drawing from our experience, you should also strive to develop strong sales practices that can overcome negative perceptions. Take the time to learn about your lead’s concerns and offer solutions to address them.

Also, having resources like blog posts available is a great way to help shape prospects’ perceptions of your products or services. 

7. Proposal / price quote: Create a quote for review

If you reach this sales pipeline stage, things are going well as it’s now time to create an estimate or proposal for your prospective customer.

Based on our observations, while it’s good to use standardized templates for all of your company’s quotes, each one should be personalized to match the customer’s specific needs. Make sure all pain points are addressed and all relevant terms and conditions are included.

To streamline this process, look for a CRM like Method that offers quoting functionality alongside lead management.

8. Negotiation / review: Finalize the details

At this sales pipeline stage, you should review the proposal with your customer and finalize the details. This is the time to make sure they understand the terms and conditions and answer any last-minute questions they may have.

You will need to keep a close eye on things at this stage, as letting something slip through the cracks could be a dealbreaker. Our research indicates that you should use every tool at your disposal to close the sale as seamlessly as possible. Sales reps will also need to know their limitations when negotiating on behalf of their company to effectively close the sale.

When negotiating a deal, keep in mind the following stages:

Preparation

Review your customer’s needs, values, and preferences. All of this should help you anticipate any potential objections they may have about pushing through with the deal. In doing so, you can come up with a more convincing argument in defense of your product or service. 

Engagement

Drawing from our experience, this is where active listening skills come in. Active listening is a sales technique that helps reps build rapport with prospects and help them truly feel understood.

Simply paying attention to a prospect’s hopes and expectations is a huge aspect of customer service that often goes overlooked. In this stage, a rep should refrain from pushing a hard sell and instead collect evidence to build a case that’s tailor-made for each prospect.

Bargaining

Now that you know your customer’s wants and needs, you can facilitate the negotiations. The point of this stage is to find a middle ground that works for all parties involved. 

Becoming a customer may feel like a big commitment to your lead. So it’s important to identify any source of hesitation for your lead and reemphasize the positive impact your product or service will have on their business. This might include offering them additional bonuses such as a trial period.

9. Closed: Win or lose, close the sale

The last of the sales pipeline stages is all about closing the deal. Through our practical knowledge, whether you win or lose the sale, it’s important to see it through to the end and get a final answer from the customer.

Upon determining the results of your sales efforts, document the details in your CRM to allow for ongoing data analysis of your sales targets. Over time, we found that information on won and lost sales opportunities can help you refine your sales pipeline stages and improve your sales process.

This means that, win or lose, your sales forecasts will naturally become more ambitious each time you navigate through these sales stages.

The importance of sales pipeline analysis

Our findings show that sales pipeline analysis helps you determine what influences successes and failures and helps you pinpoint areas in the pipeline that can be improved upon to drive sales up. By fine-tuning every little detail of your pipeline, you can improve the speed at which you acquire new customers and eventually reduce the costs involved in customer acquisition.

Our research indicates that some of the top metrics to track include:

• Average deal size: This is the average amount of money that a client spends on a product or service. It is computed by adding the total revenue from a set period and dividing it by the number of closed-won opportunities within the timeframe. 
• Win rate: This represents the ratio of deals won to the total closed opportunities.
• Average length of sales cycle: This is the average time spent from the first contact with a prospect to closing.
• Sales velocity: This measures the speed at which sales move through your pipeline to generate revenue.
• Lead response time: This is the average time it takes for a sales rep or a business to follow up with a lead.
• Sales pipeline value: This is the value of all qualified opportunities that entered your pipeline.
• Probability to close: This is the likelihood that deals close in a stage of the sales cycle, measured in percentages.

Make the most of your sales pipeline stages

As per our expertise, to get the most out of the sales opportunities that come your way, you must have clearly defined sales pipeline stages. Planning out sales stages is one of the most important tactics in the sales playbook.

Based on our observations, the significance of monitoring each of your sales pipeline’s stages becomes clear when you consider things through a more macro lens. 

The data you pull from your pipe line and sales conversion funnel serves as one of your most useful tools when setting sales objectives.

It allows you to learn, adapt, and develop new strategies through accurate sales forecasting. So you can make clear financial goals around things like budgeting or the revenue numbers you’re reporting. 

Use the examples described above as a starting point, but don’t be afraid to evaluate and refine them over time to develop the perfect sales process for your business. And keeping track of these changes makes training new employees easy for you down the road.

Ultimately, this pipeline will give your sales force the structure it needs to convert leads to lifelong customers.

Importance of sales pipeline stages FAQs

What are sales pipeline stages?

Sales pipeline stages are the steps that comprise your overall sales process. Of course, there’s more to a sale than a monetary transaction. Companies develop a relationship with prospective clients that needs to be attended to throughout the entire sales process.

For example, newer companies with less experience in their industries have little to no brand awareness. Based on our observations, while social media content falls more under general marketing tools, individualized strategies like personal emails are a key stage in the sales pipeline.

If you’re discussing the benefits of your product or service with people and how it will help their goals, that’s a key stage in the pipeline as well.

How do sales pipeline stages help salespeople prioritize their time?

Sales pipeline stages help salespeople prioritize their time by segmenting the sales process into digestible parts. This way, it’s easier to improve your sales results in the future, as you can pinpoint exactly where your sales process needs work. 

Also, using sales technology or software to track your sales pipeline eliminates confusion across your company, allowing you to close sales more efficiently. 

Who should be involved in the sales pipeline?

Anyone involved in your sales process in any capacity should also be involved in the sales pipeline. This includes sales managers and sales reps, as well as anyone else at your company who engages with your customers.

See how Method CRM can help you convert more of your sales pipeline.

The post How understanding the different stages of the sales pipeline can help you maximize your revenue and achieve your business goals appeared first on Method.

A sales metric is any data point related to the performance of an individual sales rep, your sales team, or your company as a whole. With the right sales metrics on hand, you can paint a picture of the overall health of your company. This allows you to develop a strategy for consistent improvement. Without these numbers, however, you’re essentially operating in the dark without knowing when, where or how to focus your efforts.

If your business is already using CRM software to manage leads and customers, you have a wealth of sales-related data on hand. But how do you know which metrics to focus on? In this post, we’re breaking down the five key sales metrics that businesses in all industries should be tracking. These metrics will reveal valuable information about your customers’ purchasing activity as well as the performance of your sales team. By monitoring this data regularly, you’ll gain the insight you need to reach (or exceed!) your sales goals.

1. Top Lead Sources

The first step in making sales is filling your sales pipeline with qualified leads. To make the most of your marketing efforts, you should regularly assess where most of your sales leads come from. Examples of lead sources might include referrals, advertisements, trade shows, or your website.

Tracking lead sources in your CRM makes it easy to review which ones generate the most leads every month. This can be done by exporting your lead data into spreadsheets or using the built-in reporting features in your CRM. Ideally, you want to focus on the sources of those leads who ultimately became paying customers. If this metric reveals that certain channels consistently bring in high-value leads, you can redirect your marketing efforts to focus on these promising lead sources. Alternatively, you can aim to diversify your lead generation strategy if you notice a strong dependency on one lead source.

2. Number of Touches Per Lead

Transforming potential leads into confirmed sales can take 7 to 13 touches, or points of contact. These touches might include emails, sales calls, and in-person meetings. It’s important to review the average number of touches per lead to assess the efficacy of your sales process. Having too few or too many points of contact without making a sale can reveal problems with your closing strategy.

Look for patterns in the number of touches per lead and the likelihood of the lead converting. This can be done on both a team-wide and an individual basis. If you notice large differences between individual reps’ results, you may need to start from the ground up with comprehensive training on lead nurturing and quality points of contact. Making smart adjustments to your sales approach can be the difference between simply having a conversation or closing the deal.

3. Sales Cycle Length

Looking at the average length of your sales cycle indicates how efficiently your team is closing sales. Your sales cycle length refers to the amount of time between the first point of contact (for example, an initial email) to the closed deal. Of course, it’s inevitable that certain businesses will have longer sales cycles than others. But in general, the faster you can close sales, the more you can close in a given time period — so this metric can reveal opportunities to optimize your sales process.

If you’re using lead management software with activity tracking capabilities, compare the date of your first activity for a lead with the date on which you made the sale. You may also want to look at the time elapsed between each activity in the sales process. If you notice that prospective customers get stuck at a certain phase of the buyer journey for an extended time, consider providing additional training to your sales reps. With the right tools and resources on hand, they’ll be able to move leads through the sales funnel more effectively.

4. Lead Conversion Rate

Your lead conversion rate is a measure of how well your sales team successfully converts leads into closed sales. It is typically expressed as a percentage of closed sales relative to all sales opportunities in a given timeframe. Not surprisingly, a low conversion rate can signal trouble with your sales approach. However, it may also indicate that you’re filling your funnel with unqualified leads and should revisit your marketing strategy.

Many CRMs have built-in reporting tools to help you dive into your lead conversion data. In addition to looking at your conversion rate each month, you’ll also want to review your team’s performance over time. If this metric tends to fluctuate wildly, it’s worth going back to basics to ensure your team is well-versed in sales and customer support tactics. You can also look at detailed activities from each stage of the sales process to identify problem areas where sales are frequently lost.

5. Average Purchase Size

To get a bigger-picture view of your business’s sales process, keep an eye on your average purchase size. This is especially important if your business offers a wide range of products or services: you may be surprised by your distribution of small-ticket versus big-ticket purchases. While it’s easy to focus on revenue as a whole, knowing what types of sales make up this revenue is essential for creating smart plans and projections.

When looking at your purchase data, you should also break down the average purchase size by sales rep. If you notice large discrepancies between reps, this may be a sign that some reps need additional training to help them close deals. Alternatively, the reps responsible for the larger purchases may be utilizing creative upselling techniques to boost their sales. In this case, this is a great opportunity to incorporate these strategies into your sales team’s playbook.

Optimize Your Sales Process with Key Sales Metrics

To optimize your sales process and achieve your goals, you need a solid understanding of where your sales team is at today. This means you need to take a hard look at the data to identify your strengths, weaknesses, and opportunities for improvement. By regularly tracking the five sales metrics listed above, you’ll gain the insights you need to nurture leads more effectively and close sales more efficiently.

The post The 5 Sales Metrics You Need to Track for Business Success appeared first on Method.

For those wanting to improve their sales performance, finding a great sales podcast shouldn’t be a challenge. In fact, you may have the opposite problem! With such a wide range of sales podcasts available for free, narrowing down the options can be tricky. However, the key is to choose shows which offer actionable strategies that you can apply to your own process. Below, we’ll take a look at some of the best podcasts for sales representatives.

Sales Hacks for Startup Hustlers (Steli Efti)

As the CEO of Close, Steli Efti has had the opportunity to work with hundreds of Silicon Valley sales teams over the course of his career. Throughout the years, he has coached teams on how to improve their results in one of the most competitive and fast-evolving markets in the world. In “The Ultimate Sales Hustle Podcast”, Efti shares the same tips and insights with his listeners, allowing them to maximize their own sales results. He also shares stories from his time working in Silicon Valley that are intended to both entertain and inspire.

B2B Growth Show (James Carbary)

Specific tactics and strategies are required to sell products or services to other businesses rather than consumers. This means you should aim to listen to podcasts focused on B2B sales rather than B2C sales. “B2B Growth Show” is dedicated to providing professionals in B2B companies with effective strategies to achieve explosive growth. The show discusses tactics for finding new clients, effectively pitching your product to business executives and more. For professionals looking to ramp up their sales process, this one is definitely worth listening to.

Sales Gravy (Jeb Blount)

For those who simply don’t have time to listen to an hour-long podcast, “Sales Gravy” is a great compromise. Most episodes of this podcast average around five minutes in length. Don’t let the short time fool you, though; Jeb Blount – who is the author of the book “People Buy You” – has a knack for fitting more valuable information into a five-minute segment than many podcasts can fit into an entire hour. With topics ranging from building trust to using a CRM, each episode of “Sales Gravy” focuses on a specific sales strategy or tactic that you can quickly digest and put to use right away.

The Salesman Podcast (Will Barron)

Psychology plays a profound role in sales, and this is the primary focus of “The Salesman Podcast”. On this show, you’ll learn how psychological principles pertaining to body language, influence, and much more can be used during an in-person sales pitch in order to help you close the deal. “The Salesman Podcast” features a wide range of guests, from thought leaders in sales to FBI agents. Plus, new episodes are uploaded almost daily. If you’re looking for a steady stream of sales inspiration, this is one podcast you should definitely subscribe to.

The Sales Babble Podcast (Pat Helmers)

“The Sales Babble Podcast” is a podcast aimed at salespeople in small to medium-sized businesses. It features clear and easy-to-understand language, and Pat Helmers attempts to break down even complex sales topics into terms that anyone can digest regardless of their sales experience. Of course, that’s not to say that the strategies and techniques outlined in “The Sales Babble Podcast” (such as “Three Step Process to Narrow Your Sales Focus” and “How to Read a Buyer’s Personality”) aren’t applicable to seasoned sales professionals. Chances are there’s still plenty you can learn from this podcast, even if you’re already an expert in the field.

The Advanced Selling Podcast (Bryan Neale and Bill Caskey)

As the name suggests, “The Advanced Selling Podcast” focuses on more advanced selling techniques that you can implement into your own role. The podcast covers a wide range of topics, from lead generation to overcoming objections to communicating value to your customer. As an added benefit, the podcast has its own app that lets you submit questions directly to the hosts. You’ll also gain access to supplementary sales materials, including PDF documents and bonus audio and video content.

The Social Selling Podcast (Martin Brossman, Greg Hyer, and Elyse Archer)

Social media is a powerful tool for salespeople to connect with their customers. However, it can also create tons of confusion if you aren’t sure how to use it effectively. “The Social Selling Podcast” helps to clear up that confusion by teaching salespeople how to take advantage of platforms such as Facebook, Twitter, LinkedIn, and Google+. Sample episodes include “Successful Social Selling is Personal” and “Social Selling vs. Social Commerce.” If you want to ramp up your social media skill set and leverage social platforms to increase your sales, this podcast is well worth listening to.

Conclusion

Tuning into a sales podcast is a simple and convenient way to enhance your commute to work each day. Instead of staring out the window, why not learn new skills from some of the best in the business? While the sales podcasts outlined above are some of the most informative on the internet, there are plenty of other high-quality options to consider. As long as you choose a podcast that resonates with you, you’ll be taking a beneficial step towards boosting your career.

The post 7 Essential Podcasts for Sales Reps appeared first on Method.

When there are quantifiable milestones to hit, setting realistic and achievable sales targets keeps everyone’s priorities in line. It also gives your sales reps the structure they need to develop effective selling strategies.

Of course, revenue growth is always a key area of focus when it comes to setting sales goals. But successful sales management should also include goals that are less tied to money. 

Here are some examples:

• Provide better customer service.
• Close deals faster. 
• Explain your products more clearly to customers.
• Better educate your salespeople.

A lot of these goals revolve around improving communication. For example, personalized phone calls or emails are a great way to stand out to potential customers.

Sales managers who realize the value in these types of goals help their businesses become industry leaders. Revenue generation is something that only happens at the end of the sales cycle, so why take an approach with only that in mind?

Businesses that implement well-rounded sales goals are more likely to convert prospects into paying customers. These objectives help you achieve the hard numbers you’re aiming for.

If you’ve never carried out structured sales goal setting for your business, the prospect may seem intimidating.

However, like most business goals, setting sales goals is really just the process of breaking down your time and resources into smaller increments. After breaking down sales goals into smaller, measurable milestones, it’s about seeing how to manipulate those increments to benefit your bottom line.

In this article, you’ll learn: 

• How to set sales goals.
• How to determine an appropriate target. 
• Some sales goal examples.
• Tips on the best ways to hit your sales goals.

The secret to setting sales goals

Establish your target revenue

Successful companies work backwards when it comes to sales goal setting for the month, quarter, or year.

Questions to ask yourself when analyzing past sales data to identify trends and opportunities include:

• How much did you make during previous high-revenue periods?
• What were the factors that led you to those numbers?
• Who were your highest-performing reps?
• What strategies were driving their success?

Next, take that data, apply it to your current situation, and ask yourself:

• Do you have at least as much (if not more) sales resources now compared to then?
• Do you want your reps to generate revenue from existing clients or new leads?
• How much time do your reps typically need to close a deal in either of those scenarios? 

When it comes to knowing how to set sales goals, it’s all about asking the right questions.

You also have to keep upcoming company changes in mind, such as a new product launch or a contract coming to a close. 

When you have a clear picture of the different factors at play, sales goal setting is easier.

Set a target length of time to close a deal

If your reps take five days to close a sale, you may want to shave that number down to four days to ensure they’re on track to hit their revenue target. It’s important that you’re confident you can attain your target.

To get an accurate breakdown of where everyone’s time is going, take a look at the steps that go into closing a deal. This helps you identify areas where people can speed things along.

For example, look at the average time it takes for a sales rep to contact a new lead. You can even track the length of time between a quote being sent and a contract being signed.

Sales management software, like a CRM, allows your reps to log their activities. The more detail you can learn about your current sales process, the more likely it is that you can set reasonable improvement expectations.

Define your target closing rate

When you identify your target revenue and length of time to close a sale, it becomes easier to determine your target closing rate.

For instance, say you want your sales reps to decrease their closing timeline from five to four days. In this scenario, you could reasonably expect to increase your closing rate by 20%.

However, this percentage might not be accurate. Remember, when deciding how to set sale goals, you’re not only accounting for past performance, but also the current demand for your product or service. 

Your reps could exceed expectations and still come up short if no one’s currently interested in your product!

Assessing current market conditions and competition is crucial. You can realistically increase your target close rate if the market potential is solid.
But if you’re heading into a season when demand is typically low, you may want to temper your expectations for your sales goal setting.

Use the stretch framework for setting sales goals

Stretch goals are an excellent way to sharpen your sales goal setting. However, they should be used with caution.

When presented correctly, stretch goals light a fire in the bellies of your most dedicated sales reps. 

Assigning sales targets to individual salespeople or teams can lead to creating synergy in the process. Ideally, the reps would band together and use a combination of friendly competition, creativity, and stellar support to hit even the most ambitious targets.

But when stretch goals are used incorrectly, they place employees under too much pressure to function effectively. When morale and motivation are waning, achieving even regular sales goals becomes difficult.

How to set sales goals with motivation

When setting new goals for your sales team, make sure they’re comfortable with the process. First, you’ll need to empower your reps is to break down their goals into manageable chunks.

If they now need to close 20 sales per month, start by asking them to make five sales a week their quota.

The idea is to ease into the new process and not overwhelm them with expectations. Although it’s the same amount of work, giving your reps a smaller figure to target is easier for them to parse.

Let your sales reps ask questions and voice concerns before you set goals, so they know their opinions matter. 

Finally, offer additional incentives, such as increased commission, or a pay bonus to reps who meet and surpass their targets. Celebrating and rewarding successes when sales goals are achieved is crucial to setting sales goals successfully.

Track your progress

Lead management software helps sales teams monitor their progress and develop smarter strategies. 

Look for a program that lets you track key metrics at every step of the sales process, from the first sign of interest to the final sale.

It’s easy to get caught up in the day-to-day operations of selling, but the right tools can show you how resources are being used on a larger scale. This shows you where to make adjustments for greater selling potential.

Sales management software can also help your team track of leads and customers as business gets busier, so you never miss out on an opportunity.

Reevaluate and adjust

One of the smartest things you can do when it comes to setting sale goals is to be flexible with them. Make sure you’re consistently monitoring progress towards sales goals and adjusting strategies as needed.

Circumstances change, which causes even the best-laid plans to veer off-course. Whether it’s a single event (such as lack of payment or a lost client) or part of a larger trend (like general market disinterest), you need to be ready to adjust your numbers on a regular basis. 

It’s impossible to reach every single goal you make. But when you stay adaptable and create new goals, you ensure longevity within your industry.

As business waxes and wanes, it becomes easier to adjust your goals to fit your current situation. By developing strategies to increase sales and meet established goals you let your sales department know that you’re not moving the goalposts around on them. Instead, you’re simply anchoring their expectations based on real-world factors.
Overall, identifying areas for growth and setting corresponding sales goals is a key part.

Recap: Setting sales goals

A business that sets sales goals has a better chance of making profits.

Sales goals are always ambitious to a certain extent, but there are ways to have a more realistic sales target. Working with the right data gives you a solid foundation for setting and achieving manageable sales objectives.

Objectives are naturally ambitious. As with planning anything, you can’t expect to be an expert the first time you set sales objectives. So, when you first establish sales goals and pursue them, don’t be surprised if you’re a little off your sales targets.

When you set goals, you give your business something to work towards. Whether you achieve it or not, each sales objective is another indicator of how to grow your company.

Like all business processes, this will take some trial, error, and iteration over time. 

But as your business grows and your team becomes more experienced, you’ll likely keep growing goals and your accomplishments.

How to set sales goals FAQs

How do you typically set sales goals?

Businesses set sales goals in different ways. Many managers use the SMART model, a guide created out of research into goal-setting.

There are plenty of articles that delve deep into the SMART model, but here’s its basic outline:

• Specific – Have you clearly defined your goal and everyone’s role in achieving it?
• Measurable – Can you track the success of your goal?
• Attainable – Do you have the ability to accomplish your goal?
• Realistic – Is your goal possible?
• Time-bound – Have you worked on establishing a timeline for achieving sales goals?

Organizations that use the SMART model often see a difference in productivity levels. Consider how it benefits your business goals.

Who makes the final decision on purchasing?

Generally, purchasing managers make the final decision on purchasing. Unless it’s an unusually large expense. Then it’s the job of a higher up position like the CEO.

Any purchasing decision needs careful consideration. So it takes someone with specialized skills to make the final call.

What are some factors to consider when setting sales goals?

There are several factors to consider when you set sales goals or targets for your products or services :

• Stay adaptable.
• Define things clearly.
• Manage expectations.
• Keep a record of your information.

Get your copy of this free ebook to take your sales to the next level!

The post Setting SMART goals: A step-by-step guide to achieving successful sales goals appeared first on Method.

These integrations can help you work more productively in your inbox by making it easier to send documents, write persuasive emails, and more. To help you filter through the selection, we’ve compiled a list of six great Outlook add-ins to help sales reps better serve their customers.

iPlanner Pro Office 365

The idea behind the iPlanner Pro Office 365 add-in is to give you a planner within Outlook. This add-in lets you create tasks and appointments, track projects, and brainstorm ideas. The planner also integrates with other Office 365 services like Groups and Microsoft Teams, making it simple to communicate with colleagues, organize teamwork, and coordinate events. When your whole team is on the same page, it’s easier for everyone to provide seamless customer service.

Method CRM

One of the biggest challenges for a business of any size is to provide stellar customer service even when things get busy. CRM software helps you overcome this barrier by providing a 360-degree view of each lead and customer, so you always know what they need.

The Outlook add-in from Method CRM brings this visibility right into your inbox. When you open an email, you can update contact information, refer to previous interactions, and view transactions synced from QuickBooks, all without having to switch between programs. The add-in can also be customized to suit your business’s unique workflows. If you’re already a Method CRM user, this add-in is a must-have for your customer service toolkit.

DocSend

Every day you send email after email containing important documents. Understandably, it can be a struggle to keep track of everything — especially when multiple individuals are accessing these documents. That’s where the DocSend Outlook add-in comes in.

Instead of manually attaching files to your messages, sending DocSend links allows you to track who has read your documents and when. You can also update your documents at any time, and rest assured that recipients will always see the most up-to-date version — no more clutter caused by sending the same document back and forth! With the DocSend add-in, it’s easier for you, your team, and your customers to stay on the same page.

WittyParrot Email Templates

How many times have you sat down to write an email, only to struggle with the wording? This is a common problem for sales reps. When you’re sending follow-up emails to different types of buyers, your voice has to change. The email you would send to a middle-aged professional is likely different than the email you would send to a millennial.

If your company has a diverse customer base, the WittyParrot Email Templates add-in is a great solution. First, you use the WittyParrot platform to pre-build modular, reusable blocks of email content. Then, use the Outlook add-in to quickly find and insert relevant snippets of content into your message. This tool makes it simpler for busy sales reps to ensure that their messages are always tailored appropriately for the target audiences.

RiteTone Emotional Intelligence

One of the best ways of building brand loyalty among your customers is to evoke an emotional connection. However, you want to be sure that the emotion you’re creating in your audience is a positive one.

Similar to WittyParrot, the RiteTone Emotional Intelligence add-in is another resource to improve the content of your email messages. As you compose an email, the tool uses linguistic analysis to provide feedback on your emotional tone and language style. With this guidance, you’ll be able to write more effective emails that connect with customers in the way you want them to.

Evernote

If you’re used to keeping track of your notes digitally, then the Evernote add-in is a natural fit. This add-in brings Evernote into your Outlook inbox, helping you keep your projects and communication organized. Emails can be saved in notebooks, while notes and document snippets can be attached to outgoing emails.

As a bonus, the Evernote for Teams add-in combines the power of Evernote with the benefits of Microsoft Teams. Viewing Evernote content alongside your team chat helps everyone understand the context of the conversation. As a result, you can collaborate more efficiently and provide better service to your leads and customers.

Choosing the Right Outlook Add-Ins

When deciding on Outlook add-ins for your sales team, start by considering your needs. Which of your current processes are inefficient or difficult? What do you feel is missing from your email communication with customers? Once you have the answers to those questions, start identifying add-ins that will address those pain points. However, keep in mind that less is more! Outlook add-ins are meant to increase your productivity — so focus on the ones you need, and skip any that won’t add value to your sales process.

The post Best Outlook Add-Ins for Sales Reps appeared first on Method.

• Sales
• Marketing
• Customer service

With all this in mind, how on earth do you identify which sales CRM features are most relevant for your team?

As a sales representative, your top priorities are closing deals and maintaining strong relationships with your leads and customers.

To maximize your productivity, focus on the CRM features that enable you to meet these goals. Anything that helps you track potential deals, stay in touch with contacts, or organize your daily tasks is a winner.

For sales reps using Method, consider this your cheat sheet for identifying the most valuable sales CRM features. By looking at these five things, you’ll set yourself up to work efficiently and satisfy your customers.

Top Sales CRM Features

1. Activity List

Most sales reps have a never-ending to-do list of emails to send, phone calls to return, and documents to prepare. However, if these tasks are spread across multiple scheduling tools (or your mind), it’s easy for things to slip through the cracks.

That’s where the Activity List comes in.

In Method CRM, an activity is a record of a past or future interaction between you and another individual or organization.

Activities can be categorized by type (such as a phone call, email, or meeting) and you can include notes about what was discussed. You should always create an activity after an interaction is complete, but activities can also be scheduled as future tasks.

When you log into Method each day, start by checking the Activity List to view your list of to-do’s due on or before the current date. These could be activities that you created for yourself or activities that your colleagues created and assigned to you. By checking this list each morning, you’ll have a clear picture of what you need to accomplish during the day.

How to use the Activity List:

• From your Method dashboard, click the Activities App.
• In the top left corner of the Activity List, change the filter view to “My – Due Now.”

2. Contact List

In life and in sales, regular communication leads to stronger relationships. Whether you’re trying to nurture a new lead or re-engage an existing customer, it’s important to keep the conversation alive. But when you have multiple conversations ongoing, it’s hard to remember when you last talked to each person.

Enter one of our favorite sales CRM features – the Contact List.

While the Activity List displays your scheduled interactions, the Contact List can help you identify who you still need to reach out to. Use the “Last Activity” and “Next Activity” columns to sort your contacts by the date of their last completed activity or next scheduled activity, respectively. If you spot someone you haven’t spoken to in months, don’t be shy — schedule a reminder to send them a message!

How to use the Contact List:

• From your Method dashboard, click the Contacts App.
• Click the gear icon at the top of the list, select the columns for “Last Activity” and “Next Activity,” and click “Update.”
• Click the column header for “Last Activity” or “Next Activity” to sort the contacts by ascending or descending activity date.

3. Opportunity Reports

Having plenty of potential sales in the pipeline is a salesperson’s dream. But when you only have so many hours in the day, it’s essential to prioritize which opportunities to focus on. Ideally, you want to devote your time to those opportunities that are closest to closing or have the highest value — or both.

In Method CRM, an opportunity is used to track the details of a potential sale as it moves through the sales pipeline. These details include the expected revenue, the anticipated closing date, and the current pipeline stage. Opportunities can be created for new leads or existing customers, giving you a complete picture of your potential business.

Get into the habit of checking the Opportunity Reports in Method each morning. These graphs make it easy to visualize how many deals you’re working on, what they’re worth, and how close you are to making the sale. This, in turn, helps you decide where to focus your attention that day.

How to use Opportunity Reports:

• From your Method dashboard, click the three dots on the Opportunities App, then click “Reports.”
• On the Opportunity Reports screen, select “Pipeline” for the type of chart and your own name for the user, then select your desired date range.
• View the total value of the opportunities in your pipeline, as well as a breakdown of your opportunities by stage. Hovering over each stage will show the total value of the opportunities in that stage, and clicking on the bar will bring up a list of the relevant opportunities.

4. Estimate Reports

After sending a quote, you may be tempted to sit back and wait for the sale. However, shifting all responsibility to your prospects is risky — people are busy, they miss emails, or they may have concerns that are holding them back from buying. To maximize the likelihood of a quote becoming a sale, proactively following up is key.

Checking your Estimate Reports is a quick way to assess which quotes (or estimates, as they’re called in Method CRM) are still outstanding.

This is based on the fact that an estimate in Method can be labeled as active or inactive. Depending on your company’s procedures, an inactive estimate may represent a job that has been canceled, invoiced, or paid in full.

In any case, viewing your list of active estimates can help you assess which ones may require follow-up.

How to use Estimate Reports:

• From your Method dashboard, click the three dots on the Estimates App, then click “Reports.”
• On the Estimate Reports screen, select “Active” for the status and your own name for the sales rep, then select your desired date range.
• View the total value of your estimates by customer, as well as the number of estimates per customer. Clicking on each bar will bring up a list of the relevant estimates.

5. Method:Sidebar for Gmail / Method Outlook Add-In

Okay, these sales CRM features aren’t technically in your Method account — you’ll have to check your email to access them. But they’re still a valuable addition to this list!

Email is a big part of any sales job. In fact, salespeople spend 21% of their day writing emails.

Salespeople spend 21% of their day writing emails.

Hubspot, 2019

Now imagine you had to switch back to your CRM after sending each message to ensure the details were logged. This could easily double the time devoted to emails, leaving you little time to actually call or meet with customers.

Luckily, Method offers add-ins that bring your CRM inside Gmail or Outlook.

Simply open an email and the add-in will display an overview of the sender, including their contact information, CRM activities, and QuickBooks transactions. You can also save the email correspondence as a new activity directly from the add-in — no need to copy and paste text or switch between programs.

By making the email portion of your day more efficient, you’ll have more time to focus on closing sales.

How to use the email add-ins:

• Install the Method:Sidebar for Gmail (shown below) or the Method Outlook Add-In.
• Open an email in your inbox.
• Click “New” next to “View Activities.”
• Fill in the activity details and click “Save.”
• In Method: View the activity, then click the link to view the text of the saved email(s).

Truth be told, there’s always a learning curve when adopting new software. However, the curve doesn’t have to feel so steep!

Instead, focus on learning the features that are most relevant to your role. This will help you incorporate the new software into your daily routine faster — so you start seeing the impact on your sales results sooner.

The post Top 5 Method CRM features for sales reps appeared first on Method.

DocuSign: Document Signing Capabilities

DocuSign cuts down on paperwork when you need clients to sign documents and contracts. With this integration, you can send a PDF through Gmail, then have your client sign it directly in the email program before sending it back to you. Forget sending documents through regular mail and waiting for signatures — instead, obtaining convenient online signatures lets you begin work faster.

Asana: Turn Emails into Tasks

When an email comes in, you may have to do something important with the provided information — but you also have a lot of other emails to get through. Asana helps you turn your emails into tasks right within Gmail. Immediately assign the new task to a project or set a due date. With this reminder in place, you can rest easy while you finish going through your inbox.

Method CRM: Track Customer Interactions and Activities

Flipping between your Gmail inbox and your customer database can be a hassle when communicating with clients. Method CRM streamlines this process by offering a convenient Gmail add-on that provides you with CRM data inside Gmail. You’ll have immediate insight into each client’s recent transactions and activities with your company, allowing for more informed responses. You can also save new information into Method directly from Gmail, eliminating the need for double data entry.

Dropbox: Save Email Attachments in a Centralized Location

Dropbox is the perfect tool for sales representatives who receive tons of attachments, as trying to store all of these files locally can eat up hard drive space. With Dropbox’s Gmail integration, you can deposit an email attachment directly into your cloud storage — no downloading or uploading required. And by including Dropbox links in your email threads, you’ll know that everyone always has the most up-to-date files.

Pod: Scheduler and Calendar for Events and Meetings

With Pod, you’ll never forget to set up a meeting with a client or an event with other sales representatives. This Gmail integration allows you to turn emails into scheduled events instantly, without switching over to your Google Calendar. Pod also lets you see contact information and event history for everyone attending, so you have context for your upcoming meeting.

GMass: Mail Merge for Mass Email Campaigns

Instead of tediously sending one email at a time to your leads, GMass allows you to send mass email campaigns within Gmail. Draft your message, then connect to a spreadsheet to customize each email with the contact’s name and other information. You can send your email campaign immediately, or schedule it to go out later. This Gmail integration also allows you to track which emails are opened and send follow-up emails to specific contacts.

Selecting the Right Gmail Integrations for You

There are a lot of Gmail integrations and add-ons that can help you organize your emails and streamline your sales efforts. However, the ones that are right for you will depend on how you already use Gmail in your work. Evaluate possible integrations based on price, as well as capabilities. While you may find a free add-on that offers basic functionality, there may be a paid version with more features.

In addition, resist the temptation to install every cool add-on you find! Instead, check to see whether you already have a tool that performs similar tasks. After all, the goal of Gmail integrations is to minimize time spent bouncing between programs — so take the time to assess which features will be most beneficial to helping you reach your sales goals.

The post 6 Gmail Integrations to Improve Your Sales Capabilities appeared first on Method.

This arrangement is more familiar in the sales world, where many companies have always had a mixture of some reps working outside the office and others working in it. But the question persists — how do you balance these groups of inside and outside sales reps when they are working independently and with different goals? Keep reading to learn how to create a cohesive sales team that is ready to pursue sales from all angles.

Responsibilities of Outside Sales Reps

Outside sales representatives handle sales that involve face-to-face meetings with buyers outside the office. These roles typically involve trade shows, conventions, luncheons, conferences, and marketing presentations. The key to working with outside sales reps as a team leader or manager is trust. You have to trust your employees since they are mostly out of sight. And the fact is, many Americans want to have greater flexibility over their workday. Gallup reports that 51 percent of workers would switch jobs if they could get flextime.

The desire to have control and flexibility over one’s schedule is what draws a certain type of individual to an outside sales career. However, according to Business Insider, you want to delegate this role to individuals who have already sales experience in your industry. New hires should spend time in the office as an inside sales rep before committing to sales on the road.

Responsibilities of Inside Sales Reps

The role of an inside sales rep is to make sales via phone calls and emails, rather than in-person meetings. As stated by lead management pioneer Ken Krogue, “inside sales is remote sales.” Krogue goes a step further to declare that “the majority of all sales is done remotely, and the numbers are growing” with inside sales growing 15 times faster than outside sales.

In the past, inside sales would have been conducted primarily from a company’s office, with your sales reps in easy view. But with the rise of internet-based communication tools, many inside sales professionals no longer need to come into the office every day. Instead, they can coordinate deals from a home office, a coffee shop, or while traveling.

What does this mean for your management style? Even for your inside sales reps, you will need to exercise some of the same trust and communication skills required for your outside sales reps.

Goal Setting

To keep your inside and outside sales reps on the same page, always have at least one common goal for your entire sales team. By setting specific, attainable goals, all of your team members can work independently towards one common objective.

Some ideas of team goals include increasing the ratio of sales calls converted into high-quality leads or increasing the number of clients contacted within a set period. Offer rewards for reaching goals in an accelerated timeframe or for exceeding expectations. The act of goal setting encourages team bonding, which is beneficial for corporate morale and productivity.

Communication Style

The only way to succeed at having a team of inside and outside sales reps is through consistent communication. Yet with all of the different methods of communicating, from phone calls to online chats, having too many options can cripple a team. You need to be able to disseminate information to all of your sales reps in one convenient manner.

Cloud-based sales management software provides a convenient place for maintaining all communication about deals in progress. This way, everyone can access information on their own time, which helps boost productivity across the board. In addition, the software provides a written record of communication that can be referred to at any time. From looking back at conversations to tracking the progress of your sales team, a centralized system supports stronger communication.

Management Style

It can be difficult to develop a management style that works for both inside and outside sales reps. Start by taking a look at your outside sales reps, as well as your inside sales reps working outside the office. Sometimes managers may not fully trust the employees they can’t see, requiring them to check in more than necessary or keep more records to show their progress. But this is the wrong approach.

Recall that nearly half of American adults are working remotely, and the numbers are increasing every year. Our society is embracing remote work and management teams will need to become more supportive of it. This means trusting your employees to do their jobs even when you are not there to oversee them.

Sales Management Software

One solution for managing all of your sales reps effectively is to use sales management software. By using a cloud-based system to track deals, manage contacts, and log activities, your sales reps can take charge of their reports and information. This increases their confidence in their ability to do their jobs without being hounded.

At the same time, you as the manager will have all of the data you need to evaluate the real-time progress and successes of your entire sales team — both inside and outside sales reps.

Measurement of Key Performance Indicators

The day-to-day management of your inside and outside sales teams can only take you so far. To see if your efforts are paying off, you also need to be able to evaluate their sales results. This involves measuring key performance indicators (KPIs). For outside sales reps, examples of KPIs to track include lead response time, sales cycle length, and closing ratio. As for inside sales teams, KPIs can include contacts added, emails sent, and closing calls made.

Sales management software can often be customized to track each of these indicators over any period of time. In addition, many sales management systems can compile data from multiple areas of your business, from lead generation to accounting. This centralized view of your data enables you to identify weak links, inefficient processes, and oversaturated markets. Taken together, this vital information gives you the insight you need to improve sales and better manage your sales representatives.

The post How to Manage Inside and Outside Sales Reps appeared first on Method.