Your CRM and Sales Productivity 

Your CRM and Sales Productivity 

CRM or customer relationship management has become an increasingly imperative attribute of the sales industry and productivity. The goal of CRM systems is to better maintain and improve business relationships. Often times, having a consistent and regularly updated CRM can give companies a competitive edge with well managed and utilized data on their customers, contact management and more. However, this is often an ideal as there are often inconsistencies in sales reps updating the CRM. It was even noted that 71% of sales reps say they spend too much time on data entry (Close). 

If managed well, a CRM can be a powerful tool in improving overall sales productivity through better insights on lead generation, deal management, and contact management. 

The Stats

CSO Insights revealed that CRM adoption leads to 56.9% rise in the quality of communication between sales reps and sales managers. (CSO Insights)

Effective sales organizations are 81% more likely to be practicing consistent usage of a CRM or other system of record. (Aberdeen Group)

48% of companies report that improving their CRM sales funnel is one of their top sales priorities this year. (Adam Enfroy)

CRM applications can help increase sales by up to 29%, sales productivity by up to 34% and sales forecast accuracy by 42%. (Salesforce)

It is important for sales reps and managers to recognize the importance of CRMs to improving Sales Productivity. In addition, it is crucial in the CRM adoption and training process to use tools that are tailored and effective for sales teams. Part of having a smooth adoption is implementing a CRM that is effective and easy to use for reps, but also making sure that they are maximizing the features to help them. Features that can help reps can include email templates for common communication formats with customers (Method). Ensuring the importance of a well kept CRM can not only help sales reps increase their productivity by allowing them to spend less time on non-sales tasks and more on selling but also give companies a competitive edge as a result. 

WhatElse helps Sales and Account teams prepare for customer meetings in less than 60 seconds. All the research one needs about the customer is made available in a one page summary on demand. WhatElse also helps automate post-call/meeting activities so that one spend more time talking to customers with better context for future meetings.

For more information on WhatElse check out https://www.whatelse.io/

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Prioritizing Pre-Meeting Research for Sales

Prioritizing Pre-Meeting Research for Sales

It is broadly accepted that productivity is a key factor in driving revenue in sales. For example, it was stated that particularly improving the productivity of existing sales representatives was the highest driver of reps being able to hit new targets (Salesforce). 

However, one specific attribute of the various parts of productivity that is sometimes overlooked in Sales is pre-meeting research. It was cited that 84% of sales reps reported content search and utilization as the top productivity improvement area. In addition, it has been reported that sales reps can spend roughly 30% of their workday searching for information.(Xenit). Many of the issues linked to such a substantial amount of time being spent searching and toggling through information for meetings is due to sales reps often being unable to fully access documents or not having relevant information consolidated for easy access. 

Many organizations are still operating at lower productivity levels at the expense of reps spending an inefficient amount of time preparing for meetings and searching for vital information. Hence, here are some reasons and recommendations on how prioritizing pre-meeting research can improve a company's returns in sales.

Having substantive conversations win deals

Part of having a substantive conversation with a new target is informative pre-meeting research. It is important to note that sales reps are not simply contacting “targets”, but they are talking to real people. In State of Sales Productivity report by Salesforce, it was reported that 70 percent of reps cite the “ability to convey value messages” as a top driver for winning deals. Also, when pre-meeting research is done well, it can reflect a deeper understanding of a vendor’s business in a rep that will make them more likely to close the deal.

In order to have such conversations, reps should have easy access and insight to information relevant to their targets so that they can optimize their conversation to win more deals. 

Accountability for deals

With prioritizing pre-meeting research entailing tracking and getting insights on deals, reps and managers can improve accountability for accounts that may be faltering, but also take measures to ensure that deals are closed. 

Additionally, Part of having better pre-meeting research can mean creating extensive methodologies and  training reps to have a guide at all times (Troops). Some criteria recommended by Troops can include looking into and asking questions like: 

  • What is their positioning?
  • Recent news
  • Hiring pages

Henceforth, prioritizing pre-meeting research in sales reps is a step towards improving productivity. In addition, if done consistently, it can give companies and edge in customer experience by reflecting that reps are well informed  about their customers.

For more information on WhatElse check out https://www.whatelse.io/

Schedule your demo today: http://calendly.com/getwhatelse

WhatElse is now available at: http://onelink.to/whatelse ‬

Why WhatElse?

Why WhatElse?

Ever been approached by a person you're doing business with but don't remember his/her name? Or what's the latest quote you sent? Or when is his/her birthday? We've all been there, multiple times!

3 Golden Rules for Effective Business Meeting Management

3 Golden Rules for Effective Business Meeting Management

Ever felt unproductive during or after a meeting? We've all been there and there are multiple reasons why we feel like this. In this blog post, we address common mistakes during and after business meetings and how to avoid them by practicing 3 simple rules.

 

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