Sales Best Practices
3 Ways to Increase Revenue without Increasing Resources
This post is the first in our Revenue Efficiency for Every Member of the Revenue Organization series. First, we tackle how sales can maximize output without increasing resources. Enjoy!
In an ideal world, your organization would have bottomless pockets and ideal headcount for your sales department. Every rep would respond to leads within minutes, handoffs to account executives would move seamlessly, and every sale that’s rightfully yours would be landed — and then later, renewed.
In the real — and sometimes less-than-ideal world — it’s more common for sales department leaders to operate under constraints: headcount varies and resources are finite.
Under those conditions, how can you maximize revenue for your company? You’ll need to be super strategic and efficient in your operations to get the most out of what you have available. Implementing the right technology and processes helps this cause. Here are three strategies for you to try on the path to maximizing revenue.
Know Where You’re At
How can you become more revenue efficient if you don’t already know what you’re doing well — and which areas could stand to improve? Take some time to review every step of your sales process, from how you generate and follow up with leads to how you handle contract renewals and reduce churn.
Each moment on the sales journey is an opportunity to either share a success story or strategize about potential tweaks that’ll improve your team’s performance.
Load Up Your Toolbox
People — your reps, account executives, and the entirety of your sales and marketing team — are your most valuable resource when it comes to maximizing revenue. With the right technology and tools, even a lackluster rep's performance can be elevated. Conversely, when deprived of powerful tools, a stellar salesperson’s abilities are limited.
The technology your team uses is essential. Having a one-stop shop for all the relevant information needed throughout the sales process reduces time spent on research. Setting up systems for communication can mean that a successful email is sent not just to one prospect, but to many, and in an automated fashion. This amplifies the impact of the email and saves reps time drafting copy. We don't mean "Spray and Pray," but effective, customized communication at scale.
Know What Works
Remember that process you went through before to assess your team’s performance at every step? Use that information. Look at your most successful deals — what went well? Identify why these opportunities worked out. And, conversely, don’t shy away from doing a post-mortem on the clients you didn’t land. This self-evaluation shines a light that exposes best practices, whether it’s contacting a lead within minutes or following up on a Sunday evening, instead of a Monday morning. Then, set metrics accordingly, so you’re tracking the right indicators.
Looking to discover even more ways your company can do more with less, maximizing revenue without eating up a lot of resources?
Take a look at our brand-new guide which details some of the most essential steps you can take to increase your company’s review efficiency, including how to make the onboarding period a productive one for new reps and sales team members, how to iterate new processes successfully, and much more.