Sales efficiency is one of the most important numbers to get right when growing your company. Many investors call it the “magic number,” because it is a great indicator of how much growth their money will fuel.
The oven beeps, you open the door, reach in and grab the cookie sheet. A searing pain shoots up from your burnt hand, you put on an oven mitt and try again. You also probably always use an oven mitt in the future. This is a learning cycle, and one you may have personal experience with.
Learning cycles are made up of a plan, an action, a review of the results and an update to the plan going forward.
There are many many factors that impact how much business our sales machine will generate, but the first and primary one is how many leads we feed into it.
One difference between the Top 10% and the Top 1% is the very top are extremely efficient with their time. The mediocre ones tell you prospects "waste their time." That's exactly backwards. As the 1%ers will tell you.
There is a revolution happening in the world of sales technology. Venture capitalists invested $1.4 Billion dollars in startups focused on sales productivity and enablement from 2013-2015, and the new technologies coming out of these companies has forever changed the way selling is done. According to research by High Spot, 55% of sales professionals said their budget for Sales Tech increased this year. The sales technology revolution is here, there will be winners and there will be losers.
At GetGrow, we recognize that sales funnels are just abstractions of the real work the sales team puts in day-in and day-out. So we asked ourselves why are we using one system to manually track funnel stages and another system to organize our work?
At GetGrow our team has implemented CRM systems 15 times across our careers. We are all familiar with the moment when the implementation is finally complete, weeks of thinking, days spent trying to get on the phone with customer support, and hours changing field names, creating workflows and wondering why your integrations are not working, have culminated in this moment. You look at what you have created and ask yourself,
“wait..how is this going to drive more sales?”
The modern sales machine, it is an appealing metaphor. Sales can feel unpredictable, a collection of one-off relationships we slog through. But a sales machine? That can be understood, the parts come together, interact, and produce the same result over and over again
If you have any reps hitting quota then by definition you are facing failure of ineptitude, not ignorance. You know what to do or someone on your team knows what to do, but that information is not being properly used across your entire team.
We often fear that process leads to rigidity, blind adherence to protocol or human programming for mindless drones... but good process does exactly the opposite.