Drive High-Velocity Selling through Salesforce

By Hedges, Nick | CRM Magazine, August 2015 | Go to article overview

Drive High-Velocity Selling through Salesforce


Hedges, Nick, CRM Magazine


Today, almost all aspects of sales are accelerating, and keeping pace can mean the difference between success and failure.

Fueling the acceleration is a changing buyer-seller dynamic. Buyers today (both B2B and B2C) are shopping online in record numbers, they do research on their own, and when they are ready to engage with a company, they expect a fast response from a rep who is responsive to their needs.

To keep up with the accelerated pace of today's buyers, sales teams are increasingly including a larger mix of inside sales professionals, a new breed of sales people who interact with their buyers remotely.

In fact, a recent study by Velocify found that 46 percent of sales leaders reported a move within their sales organization from field sales to inside sales.

NEW SALES CLIMATE NOT WITHOUT ITS CHALLENGES

This new sales climate has paved the way for new sales technologies that solves a few key challenges:

Challenge #1--Sales reps aren't following up with leads fast enough

Despite billions of dollars spent to generate leads, sales reps typically do a poor job of managing their leads and opportunities. In fact, one in three interested buyers never receive a call back from a sales rep, and a staggering 12 percent receive no response at all, according to a Velocify study on seller response to inbound leads. What's worse, leads typically wait 3.5 days on average for the first phone call and most sales reps give up after just one contact attempt.

Challenge #2--CRM puts process onus on the rep

So, why are reps neglecting incoming leads? The reality is, in a high-velocity sales environment your reps are faced with hundreds of daily activities, and struggle to efficiently prioritize tasks. As their list of daily "To Do's" piles up, it's easy for leads from prior days to slip increasingly lower in priority. Sales reps also continuously face the "what to do next" dilemma, attempting to wrap their brains around the many different variables that make one lead or opportunity more important than another. The trouble is, CRM solutions were built for field sales, where the urgency isn't as critical and most reps are working fewer larger scale deals.

Challenge #3--Sales leaders are pressed to grow revenues, challenged by CRM limitations

Sales leaders are also under significant pressure to drive more revenue while simultaneously increasing the efficiency of their sales machine. Fact is, most sales leaders have trouble pinning down exactly how leads become "opportunities." Today's Sales leaders need (1) a better way to automate and enforce a disciplined contact strategy so all leads and opportunities receive the appropriate level of attention, (2) a better way to identify leads and opportunities that are being neglected, and (3) a way to optimize their sales machine, to ensure it is always running at peak performance.

MAKING THE CASE FOR A HIGH-VELOCITY SALES SOLUTION

Through the use of high-velocity sales practices and automation tools, sales leaders can inject more speed, discipline, and productivity into their sales organization.

Solution #1--Ensure your sales reps respond rapidly

Industry research shows rapid lead response is the single largest driver of lead conversion. In fact, calling a new lead within 2 minutes of receiving it can increase conversion rates by as much as 160 percent, and Velocify for Salesforce can help you get there. …

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