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How salespeople spend their time (spend is the operative word) can make a staggering difference in productivity (code word for ROI) of a sales rep. Jorge Jeffery of Velocify shared the results of data collected from 400 companies and one million sales leads in this interview and his report. He tells the SLMA Radio host Jim Obermayer how to double conversion rates, (close more deals) and how to call leads more quickly. All of this comes from their recently released study: The Power of Prioritization.
Why it matters
Sales prioritization of lead follow-up increases sales
dramatically and reduces sales expenses
Qualified leads are best. Qualified leads are what every sales rep dreams about. But to find qualified leads in less sophisticated companies you'll have to kiss 8-12 frogs (unqualified prospects). In more experienced companies, with sophisticated qualification techniques, they'll create fewer unqualified inquiries to find a qualified prospect with need, desire to buy,and time frame. Qualified sales leads (whether self-qualified or post-inquiry qualified):
- Reduce prospecting time.
- Reduce the sales cycle.
- Increase revenue as qualified lead count surges.
- Increase the percentage of salespeople making quota.
- Reduce sales territory turnover (as more people make quota).
To create qualified leads and be a revenue marketer you have to:
- Constantly measure how many self-qualified versus unqualified leads you are creating.
- Create as many self-qualified leads as possible (get questions answered by the prospects so you know if they are potential buyers and how soon they will buy).
- Decide if you can send the self-qualified leads (once they have qualified themselves) to your salespeople directly without first nurturing, etc.
- Qualify the unqualified leads via emails, calls, and nurturing prior to sending the qualified leads to sales representatives.
- Measure the closed sales that result from the qualified and unqualified leads.
- Repeat what works; delete what fails.
Why it Matters:
Qualified leads reduce the cost of sales and increase
revenue while reducing the sales cycle.
6 Simple Rules to Create Market Share, even for Mediocre Products
A mediocre product can market its way to success, but you have to spend enough money creating and managing demand. Create enough sales leads and me-too products have a place (if your product is superior, you’ll do even better).
My advice - 6 Simple Rules to create market share: