If you have the affinity and risk-taking mentality to Google for a sales hack, then I think it’s a safe bet to assume that don’t have the time or energy to expend on gimmicks that don’t really work in practical sales situations.
Let me explain an approach that really works. Honest!
An ultra simplified sales tracking process.
First of all, the key to hacking your sales is to understand the multiple objectives and interactions of different teams/individuals. When your end-to-end sales pipeline requires coordination between multiple departments, it could be an easy turn into a source of confusion and conflict between multiple parties.
With a comprehensive sales tracking, you can untangle the complexity and create a streamlined process to handle multiple processes and parties. You can also create specific goals that could be pursued by your each sales team. Consequently, it can also free-up more time and energy to focus on things that actually matter in the end.
This allows you to strategize and organize your daily activities on specific goals rather than plainly pinning your sales goals on employee persistence.
In this article, we will try to explain the different parts of the sales process that could be simplified under a sales tracking platform. This will also lead to a more direct and succinct way of achieving your sales goals.
So, now let’s consider the different aspects of sales tracking activity.
Align Conflicting Sales Team Goals and Objectives
In a normal sales team vertical, you can see multiple points of potential conflict of interest or friction between internal team members and departments.
Let me talk straight about this particular instance.
All sales persons are known to be selfish about their own goals and targets. Usually, the team goals take a back seat to their primary obsession of meeting their individual targets. For example, a sales person can cut corners and land deals by trimming the profit margin without getting the required management consent.
In this, a sales manager would be required to consider and maintain the profit margins and turnover volume. The role of sales managers also would be to maintain a complete picture of the entire sales proceedings. Meanwhile, the role of a manager at a higher hierarchy would be to ensure that the price-volume equation is tweaked to generate maximum profits.
A sales tracking system lets you connect different touch points and reflect the progress at each touch point. It also enables you to obtain feedback to improve on individual profit margins.
In this way, the simple sales tracking system can align department and individual member objectives into your organization’s sales objective. This allows your entire sales vertical to be more collaborative and connected to generate higher revenue.
Maximize your number of High value Leads
If you don’t have a concept to end-to-end lead tracking, you are simply lacking an effective system to process all the incoming leads. In this case, you are liable to just end-up focusing on maximizing your lead volume, rather than improving the lead quality. When you displace lead quantity for quality, the entire sales team effort could be dispersed and blunt on the concerned market.
But at the same time, you should have enough lead volume to keep the sales team busy and engaged.
In this dilemma, you should maintain a balance for both sides of the equation. The lead tracking software offers you an alternate metric for evaluation – lead value.
In simple terms, it’s the total expenditure occurred for each converted lead.
In the case of a direct marketing campaign, you can calculate the lead value using the following equation.
Lead Value = Total marketing expenditure / Number of converted Leads
This means that you can now start substituting the lead value of your acquired lead quantity/quality.
The concept of lead value forms an interesting new concept. It lets you know about the return for each marketing dollar being spent.
Step wise process to Improving Lead value with Kapture CRM Sales Tracking
The Kapture CRM lead tracking lets you assign or label each lead to its actual source or campaign.
- By stage-wise sales processing, you can easily learn which lead sources are showing more promise; which one progresses to the next stages and which one gets eliminated.
- Afterwards, you can focus your marketing activities on maximizing your lead value. Simultaneously, you can start removing low value leads from your lead channel.
As you are systematically improving the value of your marketing leads, you can proportionally increase your business conversions.
There are many benefits of approaching sales through a closed single window approach. In the initial part, you can signify your lead transition in different stages. In the secondary part, you are qualifying particular leads to increase your final sales conversion.
This will act to improve your final revenue inflow.
Mapping and Tracking your Entire Workforce
Even today, sales outreach and direct meetings remain to be a prominent revenue stream for most businesses.
This requires you to track and manage your entire sales team. For this, you need to maximize your client handling capacity of your sales team.
Let’s discuss the main problems that hold back your sales team?
This usually happens to be the ability to fix the right meetings and reaching the right prospect.
A sales tracking system lets you map-out your prospects over the entire geography. It lets you maximize the number of customers met in each outing. This improves your number of individual customer visits.
A system that encourages customer engagement will also improve your number of customer visits and market penetration.
This system lets you cover the maximum number of prospects for each outing, which usually mean a higher number of meetings. This helps you increase the customer order, number and volume.
A simple sales tracking system can align the objectives of each department and member to the fulfilment of the organization’s sales goals. This also lets you create a series of achievable sales objectives for each sales executive.
By combining different parts of the sales process, you can improve the combined results of the entire sales process.
This would need you to manage your sales pipeline through the sales pipeline.