Guest posting by Courtney Rosenfeld, entrepreneur at large.
The Benefits of an Experienced Sales Team
Hiring a team of experienced salespeople can save time and resources as no extensive training is required. Their expertise and experience equip them to source any prospective new clients and convert leads.
Sales reps spend a lot of time talking to people and interacting with clients and products every day. This provides them with a greater understanding of the market requirements. They can also offer valuable innovations that can help improve productivity and reduce costs.
You can save some time by first speaking to your candidates over the phone for a brief screening before a face-to-face meeting. Who interviews your prospective sales team is also vitally important. So it may be a good idea to at least have your top sales rep present when interviews take place. They’ll have a clear understanding of the effort involved and support required in the role.
To test the resolve and expertise of your potential new sales team, you can implement a role-playing scenario by providing them with hypothetical pitches. Ensure your prospective employees fully understand what’s required of them by clearly defining the job description. Not only should it summarize the needed skills and experience, but it should also stipulate what will be required of them in terms of goal setting and lead generation.
Sales goals come in several forms, including metrics, strategic sales goals, and customer satisfaction goals. Sales metrics can include sales KPIs such as monthly sales, growth, average profit margins, and sales opportunities created through lead generation.
Strategic sales goals are more to do with long-term targets than just numbers. Examples include increasing productivity, developing competitive advantages, and improving brand recognition.
Reducing customer onboarding and times using customer relationship management tools and improving customer satisfaction scores are part of customer satisfaction goals. Each sales rep should have a set of goals and expectations based on their skills and experience. Incentives can help representatives stay on track with their targets. Tiered commission structures allow sales reps to earn a fixed amount until they exceed a certain amount in sales, at which time the commission rate increases.
Help your sales team by boosting brand awareness through Instagram posts, an engaging website, and an eye-catching logo. It’s not necessary to hire a logo designer or graphic artist to create an effective and well-designed logo. Simply use Adobe Spark’s logo generator to find high-quality logo templates that you can customize and liven up by selecting your own colors and fonts. Once you’ve created your logo, add it to your marketing materials for maximum effectiveness.
The Qualities of a Sales Manager
A good sales manager is someone who can both organize and strategize. They have an aptitude for helping others overcome obstacles by sheer persistence. This is why promoting a top sales rep to management is often a mistake. Rather than having the patience to let a new rep learn from failure, their built-in sales instinct would likely see them take over to avoid losing the sale.
The Impact of Increased Revenue
Increased revenue can sometimes be a mixed blessing. On the one hand, it creates the potential for larger profits, but on the other, it requires more money to finance the larger volumes. Growth in sales has a considerable impact on balance sheets.
This is why it’s important to have a broader understanding of the business. A better understanding of your company’s financial standing will allow you to prepare more accurate financial projections and set more realistic goals for your sales team.
Effective goal setting can be made easier by implementing financial reporting software. It will allow you to track your finances with accurate accounting reports. Viewing up-to-date financial and accounting reports and budgets for any given period allows you to set more effective and realistic goals.
Your revenue and the success of your product are fully dependent on the ability of your sales team. Hiring the right team can be the difference between stagnation and elevating your business to the top of the charts.
Trust the team at Philantech3 to handle all your IT and cybersecurity needs so you can stay focused on running your business. Dial (509) 590-4240 to schedule a call.
Image via Pexels
I have 15+ years in the industry providing sustainable technology solutions for small to medium-sized businesses. I personally thrive on making systems more efficient and I am continually interested in ways to innovate using technology applications. I enjoy working closely with colleagues and clients to collaborate and provide a best fit solution for all IT-related needs.