EP Huddle #52
Metrics. Every business leader, investor and board member wants to know about metrics. How do we look year-over-year? How are we trending towards the goals? What does the new product forecast look like?
We've seen numerous companies (small and large) struggle when it comes to defining and reporting on various sets of data, including some extremely key metrics that demonstrate the success (or failure) of business development. Sure, the number one key indicator of a successful sales initiative is revenue. But, there are many factors that can help forecast revenue, find deficiencies and help define key business initiatives.
Here are four areas your inside sales team and leaders need to focus on.
As a team:
How well do you track each of the above metrics? Talk with your salespeople to determine how well they know each of these categories on their own. Talk with whoever is responsible for the CRM to determine how you can get better reports and actively manage each data set on a daily, weekly, monthly, quarterly and yearly basis.
EP Huddle #35
In inside sales, it's easy to get distracted with the vast metrics available and numerous KPIs to measure. So, what are the most important ones to monitor to measure the health of your business or the productivity of your sales rep?
It depends on your business, industry and your key focus. But, here are a few proven metrics to measure.
What are additional metrics you need to measure? How can you analyze these metrics to find training opportunities?
What metrics do you focus on currently? Do all of these effect your key sales goals? If not, stop analyzing them and focus on more important metrics.
EP Huddle #23
There are a lot of strategies to cold calling, and most of them have similar goals in mind. We've often found that successful cold calling entails the salesperson trying to secure another time to talk with the prospect.
Unless you have an appointment, your prospect is likely busy when you call. You're disrupting him and whatever project he's working on. So, it's not likely that you'll get someone on the phone and close a deal immediately. You might not even be able to thoroughly qualify an opportunity on the first call. So, consider changing your strategy and instead, focus on getting someone excited to talk to you again at a scheduled time in the near future.
In practice, you can acknowledge that you're calling out of the blue, and explain that the purpose of your call is to see when a good time would be for the two of you to talk. Share that you're know they're busy and that you're calling to see when might be a better time to speak again. This can often diffuse any hostility for your interruption. You should see more appointments fill-up on your calendar.
Once you've found success getting more people to commit to a second phone call, start monitoring your data for appointment "shows" and make sure your prospects are following through. If they aren't, then you need to revisit the way you're scheduling these calls and make sure there's enough value in the second conversation for them to show up.
As a team:
Think through your sales process and talk about how you can get someone excited enough on the phone to be willing to schedule time to speak further about your solution. What is your elevator speech or quick hook to get them interested? And, how can you build value for talking to you again when time permits?
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