Today’s Sales Acceleration Summit, hosted by the good folks at InsideSales.com, broke records as the largest online sales summit ever with over 25,000 in attendance.
Zorian Rotenberg, VP of Sales & Marketing here at InsightSquared, spoke at the summit about ways an organization can double (or even triple) their sales. If you couldn’t attend or would like to review, here are the top 3 takeaways from his presentation:
1) Establish a repeatable & scalable process to get predictable revenue
A sales manager’s main job is to drive predictable revenue. To do that, you need to build a repeatable and scalable process. Create a set of inputs – number of sales reps, dials per day, created opportunities for reps to close – and figure out how much output you get for all of those inputs.
The foundation of a repeatable and scalable formula for your sales team is being consistent in hiring, training, and in your sales process.
Figure out the DNA of a successful sales rep at your organization, and then hire the same type of person for sales positions thereafter
Create a sales playbook and train your sales reps consistently
Develop a concrete sales process and stick to it
If you don’t have consistency in your inputs, your output will not be predictable.
2) Your sales process should mirror the buying process
First, research how your typical buyers buy from you. Then, match your selling stages to the common steps that your typical buyers take when they go through the sales funnel with you. Sellers need to think more like buyers and it all starts with your sales process.[image source_type=”attachment_id” source_value=”31915″ align=”center” width=”600″ height=”306″ link=”https://insightsquared.com/2013/11/if-you-dont-have-a-sales-process-youre-doing-it-wrong/” linkTarget=”_blank” quality=”100″]
3) Learn to increase variables in this sales formula
You might be familiar with some version of this sales formula that promises to maximize your sales dollar output.
[image source_type=”attachment_id” source_value=”31912″ align=”center” width=”557″ height=”170″ quality=”100″]
(240 refers to the number of selling days in a year – it excludes weekends, holidays, vacation, and sick days.)
When many sales managers look at this sales formula, they think to themselves, “Great! The easiest way to increase revenue is to increase the number of dials per day required of my sales reps. Boom, done.”
Not so fast! You can only increase dials per day so much before hitting a point of diminishing returns, when your sales reps become unproductive and overwhelmed. Also, just because you increase dials doesn’t mean you’re increasing prospect quality – you could theoretically get the same sales dollar output with increased dials.
Focus your efforts instead on coaching your sales reps to increase win rate – that is where you will maximize revenue the most. Win rate is a tell-tale sign of how good your sales team is at selling. Build their selling skills through sales coaching and training.
Finally, use the magic sales formula to run multiple experiments. Don’t be afraid to run experiments – and, more importantly, don’t be afraid to fail. Because sales managers are evaluated so objectively, they are sometimes afraid to try new things and think outside the box. But the sooner you can find innovative ways to increase the variables in the formula, the sooner you can double (or even triple!) your sales.
A recording of Zorian’s presentation will be made available by InsideSales.com. We’ll post the link here once we have it.[image source_type=”attachment_id” source_value=”29227″ width=”632″ height=”250″ align=”center” quality=”100″ link=”https://offers.insightsquared.com/right-metrics.html?blog_source=organic&blog_medium=blog&blog_campaign=sales-metrics”]