The Bottom Line
In today’s digital age, forward thinking organizations are seeking to increase the efficiency of their sales teams to boost their bottom line. Many organizations are introducing mobile solutions into their sales cycle to reduce costs, streamline processes and increase their win ratio. If deployed correctly, mobile solutions can transform a traditional sales team into a cohesive unit that can truly impact the bottom line.
A Tangled Web We Weave
Today, nearly all companies provide their sales teams with access to messaging, calendars and content outside of their private networks. This public access allows sales teams to collaborate with team members, customers and prospects from any location at any time. Typically, these tools are exposed through web-based extensions that augment legacy systems. Unfortunately, these web-based extensions are often poorly designed and provide fewer features than the original legacy system. The results are poor adoption and sales teams armed with less suitable tools that are impacting the bottom line. Companies can make a bigger impact on their bottom line by focusing on design and taking full advantage of the mobile technology available today.
Solving The Sales Puzzle
The traditional sales cycle includes several distinct phases. These phases include, but are not limited to:
- Initiating Contact with the Customer
- Identifying the Needs of the Customer
- Developing and Presenting an Offer
- Managing the Customer’s Objectives
- Closing the Sale
Additionally, there are several common activities that are not unique to the aforementioned phases. These common activities include, but are not limited to:
- Collaboration with the Client
Mobile solutions can greatly reduce costs and streamline timelines across all of these phases and activities. Companies must fully understand their sales process and deploy mobile solutions strategically to realize the maximum benefit of their bottom line.
Early Bird Gets The Worm
Prospecting is normally the first activity of the sales cycle. During this phase, sales teams must identify, capture, qualify and nurture leads. Mobile solutions can provide sales teams with up-to-date lead information to quickly qualify leads and focus on the right customers. Without up-to-date lead information, sales teams run the risk of spending time on leads that do not fit their market and account plans and cannot be converted into a closed deal. A sales team’s effectiveness can be improved by focusing on the qualified leads and identifying and dismissing the false leads.
A new lead can surface at any time and time is of the essence. It is critical that lead information is quickly captured and triaged internally to ensure prompt follow-up action is taken. According to Harvard Business Review, 71% of qualified leads are never followed up with. Furthermore, waiting just five minutes to respond to leads will reduce the likelihood of contact by 10X factor for leads generated online according to Hubspot. These stats reiterate the importance of time. Mobile solutions allow sales teams to enter lead information from any location at any time. Notifications can be immediately sent to relevant team members to ensure the lead is acted upon promptly. A sales team’s productivity can be improved by reacting to new leads in near real-time.
Hit The Mark
Identifying the needs of the customer is often considered the most important activity of the sales cycle. If a sales team does not understand what outcome the customer is seeking to achieve, they have virtually no chance of developing an offer that can be converted into a closed deal. Mobile solutions can provide sales teams with up-to-date customer and sales support information that not only identifies the customer’s needs but also the outcome they are seeking to achieve. Additionally, mobile solutions can provide sales teams intelligence that can be used to up and cross-sell additional products and services. Mobile solutions can arm sales teams with guidelines and checklists to ensure relevant and complete information is gathered and the right products and services are proposed. This will help align the marketing and sales teams so that they can hit company objectives.
Make An Impression
It is critical that your offer stands out among your competition. Many sales teams include documents, photography, video, music and interactive content to augment their offer. The challenge is effectively presenting and sharing this content with the customer. A mobile solution can organize, display and share dynamic content that allows sales teams to truly make an impression during this critical phase. Additionally, this dynamic content becomes the sales team’s voice once the meeting is over. Salespeople can easily send a leave behind to prospects via email immediately after the presentation is over. Furthermore, mobile solutions can turn a standard offer sheet into a dynamic and interactive experience that will impact the customer’s buying decision.
All sales teams require some level of administration to develop proposals and contracts. Historically, sales teams are required to input customer and pursuit data into a legacy system to generate an approved proposal or contract. It is very common for customer and pursuit data to have previously been entered into a CRM system. Deploying a mobile solution that integrates with all relevant systems, including CRM and Proposal Generation systems, eliminates the need for multiple entry and greatly reduces the time spent on closing a sale. This saved time can be focused on activities that identify new opportunities or service existing customers. Mobile solutions can enable sales teams to spend time on activities that truly impact the bottom line.
Most sales teams travel to prospect and client sites at some point within the sales cycle. Whether the travel is local or long distance, there is some measurable cost associated with this travel. It is critical to make the most of the sales team’s time while on site with a client. Deploying a mobile solution that allows sales teams to display sales collateral, identify the needs of the customer, capture deal information and even generate quotes in real time will reduce the number of visits required to win a deal.
In today’s ultra competitive environment, it is key to the long term success of your organization to effectively manage and execute your sales cycle. Well-designed and fully integrated mobile solutions can be applied to various areas in the sales cycle and can ultimately make a significant impact on your bottom line. So are you ready to make your sales process better and boost your bottom line?