How Your Sales Team Can Do More With Less
Most sales leaders are accustomed to getting creative in reaching their revenue goals. They know they can’t continually add new sales reps to hit their numbers, so they figure out how to do more with less. According to Michael Perla, senior director in business value services at Salesforce, this is a smart strategy in today’s environment.
Perla says now is a time for sales leaders to focus on where they and their teams can manage risk, boost efficiency and increase profits. In this issue of Promotional Consultant Today, we discuss Perla’s tips for prioritizing and deploying effective tools to succeed in the current selling environment.
Read on to learn how to do more with less with your sales team.
Take another look at your clients. Now is a good time to regrade and rescore your accounts based on current revenue and future potential, according to Perla. He suggests plotting each of your clients on a matrix from low to high, with future potential on the vertical axis and current revenue on the horizontal axis. This gives you a visual of which accounts you should prioritize now.
Focus on high-priority accounts. When you develop the matrix above, be sure to zero in on the top two quadrants. These are the customers with high future potential and high revenue. If you do not have appropriate resources allocated for these accounts, consider strengthening sales coverage.
Develop strategic account plans. Perla notes that account plans for high-priority clients do not need to be complex, but they should provide an executive-level overview of key sales goals and objectives along with a relationship plan. He also recommends sales leaders review the plan monthly and quarterly.
Simplify your systems and processes. You can often reduce costs and streamline your business by standardizing the systems you already have in place. Perla notes that a 2019 study found that 94 percent of business executives say internal complexity prevented growth—not competitive threats or a lack of opportunities. To streamline operations at your organization, he recommends outlining each system or tool you use in the sales process, determining how much often you use each tool and creating a plan to sunset those systems and tools that add little value to the process.
Pay attention to your sales talent. When the economy is uncertain, you should aim to retain your best sales managers and sales reps, or you risk losing them to your competition. Consider a retention bonus or new professional development opportunities, advises Perla.
You can reach your sales goals without adding to your headcount. The key is learning how to do more with what you already have. Make sure you are prioritizing the right accounts, developing smart account plans, and working to retain your top sales reps. Stay focused on things that drive revenue and you will perform well now and when the market turns.
Compiled by Audrey Sellers
Source: Michael Perla is a senior director in business value services at Salesforce. He co-authored a book on sales force transformation.