Resources to improve sales profits in your company
Business Management

Resources to improve sales profits in your company

Obtaining more profits with the same resources and improving the sales profits of the sales team is one of the main challenges and concerns of any manager and sales director in a company. Increasing the productivity of all teams, especially the sales team, should become one of the main pillars of any business strategy.

As stated by the El Economista newspaper, profit is the “result of an investment that is composed of the sum of the interests or dividends obtained plus the revaluation or deprecation experienced by its market price.”

But how are sales profits improved? In this post we will show you a few tips to accomplish a more productive and profitable sales team.

 

Problems of sales networks which affect their effectiveness

Fernando Rivero, marketing director of Tatum, quoted by José Francisco Alfaya in his blog on “strategic resources for organizational survival,” states that there is a situation that affects profits in sales teams nowadays:

  • A lack of optimization of sales efforts
  • Departments are usually not standardized, systematized or modernized
  • Reactive performance by salespersons
  • Lack of sales proactivity
  • Lack of parameterization and analytic knowledge
  • Poor customer database exploitation to gain the loyalty of those of the highest value
  • Decision-making based on limited information

 

Solutions to improve sales profits

In light of these hindrances that can negatively affect sales profits, there are a series of tips to improve the productivity and profitability of the sales team:

  • Properly plan your strategy in order to miss no details

    A fundamental part of running a business is strategic planning, which is to say, defining objectives, strategies and procedures to be performed in order to accomplish our mission in compliance with our vision and values.

If you want to manage properly, it is important for you to dedicate time to the creation of your strategic sales plan, its revision and the constant analysis of all of your inputs and outputs.

 

  • Prioritize tasks

    The next step to increase sales profits is to analyze all tasks that agents need to carry out during the week and sort them by relevance for their success.

With this we will realize that, while all of them need to be carried out, there are some to which we will need to dedicate more time (perform and prepare for sales visits, prepare orders and personalized offers, etc.) and those that are merely administrative and we should be able to do less.

We should get organized, set times for each task and be able to comply with them. How can we accomplish this? With a sales app that helps us automate the submission and writing of reports, sales reports included, and lets us avoid unnecessary calls to the central offices or loss of information at key moments.

Prioritize tasks

 

  • Improve the technical knowledge of your sales personnel

    Your salespersons should have all possible information about the various products and services of your business, their advantages, which problems they can solve, which items can supplement them… In this way, not only will they offer a much more professional corporate image to your customers, but they will also convey trust in your products and help them be more effective.

In addition to training them about your product catalog, you can strengthen their knowledge through a complete and well-crafted product data sheet.

You might be interested in: How to increase your sales network visits by 20%

 

  • Measure and analyze

    In order to increase our sales productivity we must measure and analyze, obtaining information that lets us know the company’s and our customers’ situation, in order to forecast projections and fix errors in time or strengthen areas that need to be improved.

In order to analyze this performance we should measure the quality of the sales efforts, looking for a balance between the criteria of quantity and quality. You can achieve all of this by using a sales dashboard that is properly configured, in order to monitor and analyze your department’s activity.

 

  • Motivate and incentivize your sales force

    Keeping your employees motivated and with a positive attitude in the face of daily tasks and the accomplishment of their goals is key for all of the processes in which they are involved to be more beneficial.

Motivation does not only involve the wage or economic incentives to the sales team based on their transactions. Achieving a committed department implies a change in the corporate mindset and in certain processes. This is why we recommend that you read our post titled ‘How to motivate a sales team through methodology and technology’.

incentivize sales force

 

  • Know your customers and adapt to them

    We should know how our users are and segment them in order to personalize all of our interactions. To accomplish this, reinforcing the pre-visit planning and having all the information about a customer before the encounter will be of great help. In this way, we will be able to personalize our relationship with users and improve our  customer management in order to make each visit more effective.

Mobile tools for salespersons will be useful to obtain key information at the right time, make reports at any moment, anywhere, and centralize the information of the customer database in order for all departments and agents to have it at hand when they need it.

In addition to having a CRM that helps you store, analyze and segment customer data, in order to get to better know your customers and determine their quality, you can monitor and properly control customer KPIs. Through all of this, you will obtain a better outlook on how to interact with your users and gain the loyalty of those that are the most valuable for your business.

A CRM that helps you store customer data will let you obtain a better outlook and gain the loyalty of the most valuable ones

 

Technology to improve sales productivity

All of these tips will help your sales team become more productive and improve the sales performance if you know how to perform them and use the right tools for salespersons.

Did you know that there are applications that boost sales productivity? By using them, you can centralize these processes and properly monitor your salespersons’ activities and the status of your goals. You will also be able to know your prospective customers better in order to determine when they are prepared to acquire your products, and you will considerable improve the decision-making processes, since you will have all the necessary information to improve your strategies.