All sales professionals hold the belief that you need right sales opportunities to create better sales outcome. But then the question becomes how you can find all these important opportunities.
Successful sales people are able to find and manage the right opportunities that open-up new sales avenues. They measure and consolidate every single data of every single sales prospect – Number of calls, Calls with positive response, Meetings schedule, Number of advanced Deal closure meetings etc.
When you are looking to recreate month-after-month of successful sales, one should have a system that can turn every prospect inside-out. (Pun half intended).
An opportunity tracking system gives you the right way to reach and manage your prospect list. It also helps you get closer to the bottom 20% of the leads that actually affects your sales bottom-line.
This helps you save your time by avoiding time consuming distractions.
Improvements in Sales Acquisition
In this article, we will discuss about the different ways an opportunity management system helps you manage sales in an efficient manner. We will also discuss about productive ways to increase the conversions.
Let’s first examine the different factors that determine your lead to opportunity to sales conversion.
Multiple Opportunity Determining Factors
All sales people are aware that every meeting cannot be termed as an opportunity. Most sales meeting end-up as casual encounter with promises of future contact.
In this situation, a smart sales professional tries to maximize the situation by choosing and maximizing the right opportunity. This helps you to make sure that every opportunity gets the time and attention that one deserves.
- Time spent on each Prospect or Contact: – Previous studies have shown a direct correlation between time spent with customer and sales turnover. This is also true for customer engagement.
- Lead response Time: – If you can reach the prospect within one hour, it has the effect of increasing conversions by almost 7x times.
- Manage Customer Data: – Mindless mass advertising has come to large blunted influence of mass media and PPC advertising. You need to have personalized customer communication to incrementally increase the rate of conversion.
- Right Sales Strategy: – According to studies, a good sales strategy can help you with up selling, cross selling and additional sales. But almost 53% of organizations don’t follow or communicate an organizational level strategy. This leads to large disparity in performance or work output.
- Speed in Customer Management: – An important part of determining higher conversion rates is the agility or speed of managing customer meetings. You will be able to manage more meetings and close more deals by simply arranging a higher number of meetings.
How to Strategize Opportunity Management?
If you are looking to maximize every single opportunity, you should try to optimize each of these aspects of lead management. At the same time, you should be able to spend your time judiciously and wisely.
An opportunity management system lets you manage and optimize the different involved factors in your opportunity management landscape.
In this article, let’s discuss the different ways by which Sales CRM improves your odds of increasing sales.
- Build a single unified Sales Strategy
By having a collective organizational strategy, organizations can learn to fast-track their decision making and prospect handling. But unfortunately, almost 53% of employers think that their sales executives don’t understand organizational strategy.
A CRM system lets you streamline all responsibilities to a single dashboard. By combining all communications to a single platform, you no longer get your strategic planning limited to a few sessions.
Better team communications let you tailor a better sales strategy. This also helps you create long-term sales conversions.
- Improve your Lead Response Time
The difference between a welcome response and an uninterested response could be just limited to your speed of response.
According to study data, by simply responding to your leads within five minutes can increase your lead response by 11X. This essentially stresses on the importance of improving the lead response time for marketers.
Utilize Customer Data to garner Positive Customer Experience
The stats that states the significance of positive customer experience is simply overwhelming. The existing customer referrals are the main source of new customers and 5X increase in acquiring new customer leads to 90% revenue increment.
As obvious it is, increasing the quality of customer service is an easy way to improve customer satisfaction. A higher customer satisfaction is an easy way for better client retention and increased referral sales.
The CRM platform lets you store and manage all data to make a positive difference to customer experience.
In addition, this also allows you to maintain multiple touch points for each customer.
At the first hearing, ‘Sales Opportunity Tracking’ sounds exactly like one of those buzzwords that got invented in a searing sales or marketing meeting. But studies have proved that CRM opportunity tracking can increase your sales up by 29%. Kapture CRM could be the opportunity tracking system that covers all your diverse sales responsibilities.