4 Fundamentals for Increasing Sales Revenue
When tasked with increasing sales revenue, it’s easy to grasp at anything that looks like it may do the job; a new comp plan, new messaging, a marketing campaign, training, the list goes on and on. Before any new tactics are put in place however, it is just as important to take a step back and examine the below four fundamental areas of your sales organization. Chances are, any gaps, red flags or unanswered questions in one of these four areas could hold the key to increasing your sales revenue. Focus on optimizing these four areas and you may just set yourself up for success!
This may sound like a no-brainer, but it must be stated! You have revenue goals to hit and the first place to start is building a plan for how you will hit your target. A well thought out strategy is fundamental for growing revenue. Take the time to evaluate the market, competition, opportunities and your current customer base. Do a full 360 degree evaluation of what’s happening internally and outside of the company. A well planned strategy is key to growing revenue!
Once you have a strategy in place, build a solid structure to execute your strategy. How many representatives will you need to reach your market? How many reps need to be inside versus outside sales? What content do you need to be successful? What messaging do the reps need trained to deliver? How should you arrange territories? What is both a fair and motivating compensation? Your structure should answer questions like this and support your overall strategy. Sales Operations and Sales Enablement is also key when considering structure.
Making sure you have the right people in place is probably the most important factor in building a successful team and driving revenue! Nothing is executed without the right people to make it happen. Examine your team and make sure you have the right people in the right roles. Where are the opportunities for coaching? Where would more training be beneficial? What does performance look like? Do you have the right measurable data to assess performance? Invest in making sure you have the right people to execute your strategy, you support them with what they need, and motivate them to execute to get the job done!
Poor processes can significantly slow down execution. When sales representatives have to spend more time formulating how to execute on their goals, the less time they spend actually executing on them. Make sure there is structure and process to the sales cycle, team development time, coaching, on boarding, training, forecast meetings, etc. Constantly evaluate the processes you have in place and how to improve upon them as they can improve your team’s ability to reach their goals. Make it as easy as possible to execute on the tasks at hand and leave time to sell!
All four of these areas working at their optimal sets the platform for driving revenue. Salesvue is a native Salesforce application that assists in answering the above four questions for you. It uses data in Salesforce to uncover whats working and what isn’t. It provides real-time analytics on your teams performance in addition to the behavior or your buyers. Request a 30-day trial to learn more.
To learn more about the Salesvue and Salesforce integration, visit our product page and watch our short 2-min demo.
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