Return on investment is the key phrase when it comes to productivity software. Especially in sales. While marketing managers seem to be willing to at least try various products and services in order to increase website traffic, generate leads, and grow website conversions. Sales leaders are trailing behind. Fortunately there is good news, the latest sales tools are built around ROI. They either save you a lot of time, which is worth money, or increase revenue. According to a study by Proudfoot Consulting, sales reps only spend 11% of their time actively selling. Here is the breakdown and ways that you can increase selling time and decrease wasted time in your sales cycle:
- 11% Of Time Spent Actively Selling: Increasing this number by even 5% across your sales team would provide significant increases in revenue and ROI.
- 9% Of Time Spent Prospecting: This includes identifying and qualifying target prospects for follow-up. Marketers depend on tools like Marketo, Act-On or Hubspot to rank leads and track engagement. Unfortunately these rankings don’t work for outbound sales teams. You can track similar behavioral data in the sales automation and follow-up cycle by using CloseFox.
- 18% Of Time Spent Problem Solving: Sales reps are expected to increase the likelihood of successful follow-ups with preparation. Being able to quickly get past objections and discuss the real problems that your prospect faces. Using tools like LinkedIn, Twitter, Quora to know what your prospect is talking about. Use CloseFox to know exactly what part of your message interested them to get the conversation going and provide tailored solutions.
- 31% Administration: I’m always surprised when I meet someone who wants to increase their sales but does not have a CRM. The reason for this is that CRMs are giant time killers. With all the admin work created it is hard to see a real ROI. That is why tools like Close.io, Hubspot CRM, and Inside Sales have focused on eliminating admin work. Tools are able to do this by automatically populating account details with a click of a button, queueing up your calls, and tracking all of your activity.
- 15% Of Time Spent Travelling: Make sure that your sales team has an agenda and target prospects at conference that you go to. It is easy to make them a social event.
- 16 % Of Time Spent On Non-value adding time: Things like personal calls / emails and personal social networks waste a lot of time during key calling hours. Creating a competitive environment with the right compensation can help reps stay focused.
Whether it is streamlining sales and marketing or empowering sales teams with the right tools, even the slightest increase in productivity will lead to increased revenue. The challenge is finding those processes and tools that have an ROI on both your capital investment and time investment.
CloseFox takes the guesswork out of sales follow ups by providing insight into prospect minds. By simply attaching your sales documents and videos to your email and sales automation templates CloseFox identifies which prospects to follow-up with and how. Allowing sales teams to save hours every day and increase the effectiveness of follow-up calls and emails. Unlike other tools, CloseFox utilizes a proprietary algorithm to short list the highest probability prospects, then provides the insight into what your prospects want. Empowering your team to win more deals.