Many of you have probably heard the Board of Directors' analysis that B2B customers had taken almost 60% of their purchasing decisions before talking to a supplier.
This has forced marketers and their organizations to change the way they participate in the digital purchasing process.
If companies do not understand what this digital purchasing process is, and the buying habits and behaviors of prospects, they may not be taken into account.
"Selling is a competitive sport"
Such is the case in a recent TechCrunch article.
I agree with them.
Like sport, sales are so competitive that professionals are constantly trying to outdo themselves. In the case of sales, it is about reaching new customers and reaching record levels.
To do this, sales, like sports, have even evolved beyond what happens in the office and on the phone.
"Moneyball" tells the true story of how Billy Beane, Oakland A's manager, used statistical analysis to find undervalued players.
His approach allowed Team A to win a record number of games on a much smaller budget than most other teams in the league.
At InsideSales.com, we do the same thing.
InsideSales.com helps sales teams maximize their potential by helping athletes achieve superior performance.
We do this by:
- Monitoring activity
- Performance measurement
- Motivating achievement
- Manage the work style
- Behavior modification
Just as Oakland used the data to gain a competitive advantage, we believe that this data can provide the same benefits for sales.
Combining data with predictive analysis
Data alone is not enough to help sales teams succeed.
In 2013, ScienceDaily announced that 90% of global data had been created in the last two years. The rate of data creation accelerates quickly.
Although we do not miss any data and information, we lack information hidden in the data.
It is there that shines the power of predictive analytics.
After 10 years of collecting sales data and using predictive technology, InsideSales.com has identified consistent models that have helped us determine the best practices that sales professionals can use to reach more customers. people and get better results.
7 best selling practices
1. Reply immediately
The work of InsideSales.com to determine the optimal time to meet incoming prospects has been described in the Harvard Business Review.
Recent research has shown that when sales representatives respond within 5 minutes of a survey, compared to 30 minutes, they earn 21 times more in qualifying.
At present, the average response time of US companies is about 38 hours. In the UK, it's a little faster at 24 hours.
It is still far from the goal.
2 To be persistent
Just as it is important to react quickly, it is also important to call often.
According to a recent survey of InsideSales.com's response, the average business representative of a US company gives up prospects after an average of 1.5 call attempts. In the UK, he is slightly better with 2.39 attempts.
However, these two figures are well below the 6 to 9 ideal attempts.
Research shows that when a salesperson calls in the ideal range, he finds a 3-fold increase in initial contact rates.
3 Establish a local presence
When you receive a call from an unknown number 1-800 or 0-800, are you in a hurry to answer it? Probably not, because you think you do not know the person calling and that it's just another telemarketer.
Sales teams must be where their customers are. They should use local numbers to contact their customers.
InsideSales.com customers who take this approach typically experience a 57% increase in their connections.
4 Create a cadence
Most companies do not have a cadence strategy.
They did not attempt to create a coherent communication strategy to better track and contact potential buyers.
Our clients' data shows that companies that adopt a 10-day awareness strategy generally see a 26% increase in the number of appointments.
5 Motivate your staff
When organizations want to increase the performance of their staff, they often turn to premiums for help.
However, studies show that spiffs are not enough. In fact, if they are used too often, they begin to be expected and lose their motivational power.
Instead, by integrating real-time points and grading tables, sales teams can achieve a 38% increase in their business activities.
6 Hire intelligently with data
Would you trust your hiring decisions for a draw?
That's pretty much what most organizations do. The data shows that recruiters hire talented talent only 60% of the time.
Organizations should use the data to predict which candidates are most likely to perform best.
With data-driven decisions, InsideSales.com's customers achieved 2.5 times better recruiting accuracy.
7. Analyze your pipeline
How do you know which transactions are coming into your pipeline? Will you reach your targets?
InsideSales.com's research reveals that sales representatives are often slow to engage in win-win transactions.
Sales reps tend to only engage in transactions for which they feel confident, but many deals that can be won are not validated, especially at the beginning of the quarter.
By applying data science to your sales pipeline, you can make your sales forecasts more precise and more actionable.
Teams that adopt this approach generally see a 3-fold increase in forecast accuracy.
The path of revenue acceleration
To outperform the competition, sales teams need to start adopting each of these best practices.
InsideSales.com customers who have implemented these practices are reaching more and more potential customers, setting more appointments and concluding more offers.
This normally results in an increase in revenues of 15% to 30%.
Let this infographic guide you. Download it now and use it as a reference later.
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