3 Timely Sales Tips for Improving Profitability

As 2013 ended we were aware of all the achievements – and perhaps the shortfalls – of our business, and were ready to optimize our resources and continue our business expansion over the next year. Data analysis, people management, effective communication, customer satisfaction… these are just some of the factors we need to coordinate if we want our sales to keep growing.

Here are 3 pieces of advice that we at ForceManager® believe could come in handy in 2014, plus some practical tips on boosting your profitability by improving your Customer Lifetime Value (CLV) and reducing Customer Acquisition Cost (CAC).

1. Your objectives need to be SMART

In other words, make sure your objectives are:

• Specific: Don’t settle for ‘sales have increased enough’ or ‘I want more qualified leads’. We need metrics! To compare and contrast data and know exactly where we are in relation to our objectives, it’s vital to have analytical insight and exact figures.
• Measurable: Make sure your objectives are measurable. Avoid terms such as “brand commitment” and set Key Performance Indicators (KPIs) to know whether you’re on the right track.
• Attainable: Look for objectives that are reachable. Think big, but go for what’s certain.
• Realistic: The best teams are the ones that are honest with themselves. With your strengths and weaknesses in mind, set realistic objectives and reach for them together, confident that you can overcome whatever obstacles emerge.
• Time-bound: You also need timeframes. Responsibilities should be motivated by – and linked to – deadlines. When you meet business objectives, don’t forget to celebrate with your team!

2. You’re thinking “data”, your client, “brand experience”. How about trying inbound marketing?

As CRM expert Brent Leary stated recently in his Dreamforce ’13 sessions, “The challenge for small-medium sized businesses in 2014 will be to leverage data without dehumanizing the customer experience.”

To engage with the customer and/or potential customer, inbound marketing is a great consolidator.

Inbound marketing using quality content helps you attract qualified traffic to your website and accompany a lead during the entire buying process, up until a possible sale/making a sale possible. You’re responding to their needs by offering answers to their questions in the form of articles, ebooks, webinars, and personalized, instant attention through social media and emailing.

All this time you as a company are developing the lead and getting to know them in detail by following the 4 phases of inbound marketing (attracting traffic, conversion, qualifying leads and analyzing results). If you opt for automated marketing you’ll give your sales teams fewer leads, but better quality ones.

Remember: a brilliant brand experience leads to a “customer evangelist” – a very loyal customer.

3. Offer the right information at the right time

Andy MacMillan, Vice-President and General Manager of Data.com, warns that using statistics and data in support of our sales efforts can result in information saturation. Remember that quality is more important than quantity, and keeping the time factor in mind is fundamental.

This is why ForceManager® provides, for the first time, absolute transparency of sales activity. Each impact that takes place within the sales network is recorded and linked to a geographical position, the recipient’s name and time of interaction. According to Oscar Macia, CEO of ForceManager® “In the Spanish market we’re becoming experts in efficiency.” You could say, the Google Analytics of the sales world.