So, just how do you measure success in your business? Obviously, if the dollars are rolling in then you must be doing something right! ACT’s Opportunity feature is a great way to measure your sales success. Using ACT correctly will help your business reach an even higher level of success.
Use these simple tricks to help take your business to the next level in sales:
Tip #1: Focus on the entire process, not just the dollars. Most great salespeople have a specific sales process that they follow. Have you identified the process that works best for your company and, more importantly, have you trained your sales people in how to use it?
Tip #2: You’ve probably heard of the 80/20 rule – spend 80% of your time contacting the 20% of your contacts that bring you the most business. Does your company have an effective way to evaluate a prospect’s potential?
Tip #3: At the end of the day, a few solid customers are worth a whole lot more than a hundreds of stone-cold leads. Do you have a process in place for customers retention?
Tip #4: There is some inevitable attrition among existing customers. You need to replace them, and to expand your reach. How do you balance customer retention with new-account acquisition? Where are you going for new leads, and do you have a way of measuring their value?
Tip #5: How do you share best practices among your sales team?Regular sales meetings that focus on best practices and analysis will shorten the learning curve, generate new ideas, and improve overall productivity.
Tip #6: Know your conversion ratios. When a high percentage of prospects convert to customers, that’s productive. When a high percentage of proposals convert to orders, that’s productive. When a small number of orders converts to a large volume of dollars, that’s productive. Can you track these conversions?