There are several fundamental principles that will always help a business increase their sales, for little to no extra costs. After all, selling is a human endeavor and there is a lot of improvement that can occur at the conceptual/psychological level. Here are some of the ways you can increase your company’s sales:
1. Do Not Waste Experience
Like in any activity, people improve at different rates, with some improving faster than others. It’s important to identify these high performers and encourage them to act as coaches. Their experience can help discover new best practices and highly effective sales techniques, and this knowledge can be spread across the team in order to improve the effectiveness of each member.
2. Improve Morale
Good morale is consistently corelated with positive performance—if your sales team feels confident that they will be properly rewarded, they will be able to perform better. In order to improve morale, you can create an environment based on fairness, which rewards performance, and is committed to excellence.
3. Put an Emphasis on Teamwork
A team environment promotes cooperation and improvement at the group level. This means that each individual performs better because they are able to tap into the collective resources of the team. In order to promote this mentality, it’s important that you reward employees based on merit, and also reward them for teamwork.
4. Constantly Improve the Efficiency of Your Sales Process
Using a feedback loop, you can create a system that constantly improves in efficiency. The loop should consist of a strategy, a period of testing, a period of taking in new information, and a period a recalibrating the strategy. You basically have an assumption that you can test out in the field. If it is successful, you improve on it further; if it is not successful, you discard it. This can truly unleash the potential of your sales department.
5. Boost Confidence
Your sales team will be more productive if they have confidence in the future. During tough economic times, or in an environment that is very demanding in terms of performance, employees may start to worry about their continued employment. This can have a detrimental effect on their performance. However, if you can assure your team that the company is committed to their success, you will be able to help them overcome stressful periods.
Using Software to Improve Performance
In order to truly unleash the potential of your sales team, you can employ predictive sales software. Funnelocity, which is a performance management application, has been designed to optimize the effectiveness of your sales team. Through the use of artificial intelligence, Funnelocity will gather and analyze data across relevant metrics, activities, and skills, and from sales personnel at the top, middle, and low performance levels. This data is then structured into reports for the management team, allowing them to identify trends, bottlenecks, the high-performance habits of employees, and overall best practices.
With these insights on hand, the management team is then able to tailor training programs, new sales techniques, documentation, and performance-improving methodologies. The sales team will implement these new techniques, generate a slew of new data which can be analyzed by the software, and a new report is formulated on the performance of the team. Management is then able to further fine-tune their approach in a positive feedback loop that will revolutionize your sales department.
If you would like to find out more about our predictive sales management software, contact Funnel Metrics today to setup a demonstration of our Funnelocity software in action.