Category: Sales Technology

Why Lead-Scoring Algorithms Can Increase Conversions By as Much as 20%

Posted on by hiredna

Not all leads are equal. Some are just entering the sales funnel and are at the top in the awareness stage where they’re just getting their bearings and doing preliminary research. Others are a bit further down in the interest or desire stages where they understand your product and are considering making a purchase. And others are at the very bottom in the action stage where they’re right on the verge of converting. One of the best ways to sort through leads and ensure you deliver the right outreach at the right time is with lead-scoring algorithms, which can increase conversions by up to 20%.

Here’s why lead-scoring algorithms are so potent and why they’re worth implementing into your sales operations.

The Rise of Sales Technology

First, let me point out that sales technology in general has seen a sharp rise in recent years. A 2020 LinkedIn study found that nearly half (47%) of sales professionals use technology at least once a day — a number that has presumably risen even more over the past three years. The study also found that “more than 52% of sales professionals said they planned to use more sales technology,” and “74% of those who use an intelligence tool state that it plays a critical role in closing deals.”

In 2023, technology is being used in nearly all aspects of sales, boasting impressive results. And lead-scoring algorithms are no exception. It’s taken a process that formerly had to be done manually and was quite time-consuming and given it a shot in the arm. While I’m not surprised that lead-scoring algorithms can have a positive impact on conversions, I was honestly amazed that it can be as high as 20%!

This shows the potentially game-changing nature of this technology and why it should be on every sales team’s radar, especially if lead management is something you’ve historically struggled with. Now that we have some perspective on exactly what lead-scoring algorithms are capable of, let’s look at two specific reasons why they help sales teams boost conversions.

They Help You Identify High-Value Leads

As I mentioned earlier, there can be a big disparity in where leads are in the sales funnel. Most initially start at the top in the awareness stage and have to be nurtured before they’re sales-ready.

But here’s what’s crazy. “61% of marketers send all of their leads to sales even though only 27% are actually qualified.” Not only is this a huge waste of time where reps reach out to a ton of leads that are unlikely to convert, it can be annoying to leads when what they need is more information rather than a hyper-aggressive sales plug.

Perhaps the biggest benefit of lead-scoring algorithms is that they help you identify high-value leads quickly and reliably. Here’s an example.

By using a points-based lead-scoring model, you can assign each lead a score based on specific actions such as visiting your homepage, clicking on a blog post, visiting your pricing page, or downloading an eBook. Actions like visiting a homepage and clicking on a blog post would show relatively small intent to buy and, consequently, receive fewer points than actions like visiting your pricing page or downloading an eBook, which would assign more points.

How to Create an Informative Lead Scoring System in 6 Steps : LeadFuze

In turn, you can objectively identify a lead’s current value and rank them accordingly. A lead score of 50, for example, would be just a basic lead.

A lead with 75 points would be a marketing qualified lead (MQL).

And a lead with 100 points would be a sales qualified lead (SQL), which would be a high-value lead that your reps would want to prioritize over all others.

The end result would be reaching out to hot leads right when they’re most receptive, thus greatly increasing your chances of converting.

They Streamline Lead Nurturing

The other key purpose of lead-scoring algorithms is that they can enhance lead nurturing so those that aren’t ready for a sales conversation can receive the right information to educate them and build rapport until they are ready.

Say, for instance, a lead received a score of 75 points using the model above are were identified as an MQL. You could put them in an email drip campaign and send them relevant newsletters, videos, and blog posts so they can learn more about your product and get comfortable with your brand. This could be followed by case studies, competition comparisons, testimonials, or free trials, gradually nurturing them until they become high-value leads.

Instead of “going for the jugular” prematurely and squandering employee resources while potentially turning off leads, this would allow you to get the absolute most out of everyone who enters your sales funnel, regardless of the stage they start out at. It’s basically a two-pronged attack where you’re able to quickly identify and reach out to high-value leads and effectively nurture those that aren’t yet sales-ready until they’re eventually prepared for a sales conversation.

All the while, you’re generating accurate, objective data and basing your decisions around sophisticated intelligence rather than “just a hunch.” When you put it all together, it’s easy to see why conversions can increase by as much as 20%. If you want to learn more about lead scoring software and get a comparison of today’s top products, I suggest checking out this resource from G2.

Revving Up Conversions with Lead-Scoring Algorithms

One of the biggest hindrances to reaching full conversion potential is treating all leads the same. As we’ve learned, the majority of leads aren’t initially sales-ready and each lead is at a different stage in the sales funnel.

Lead-scoring algorithms are one of the best tools for sorting out leads so you’ll know which ones to focus on right off the bat and which ones to nurture. That way, you can simultaneously optimize your sales outreach process and get your conversion rate as high as it can possibly be.

And if you’re looking to optimize your sales recruiting, check out HireDNA. 92% of recommended candidates through HireDNA climb to the top of the sales force within one year, and it eliminates 96% of hiring mistakes.

How to Manage a SaaS Sales Team That’s 100% Remote

Posted on by hiredna

Prior to COVID, 17% of US SaaS sales reps worked from home five or more days per week. After COVID that number more than doubled to 44%. 

While a portion of salespeople are transitioning back into the physical workplace, managing reps remotely has become the new norm for many SaaS companies. In fact, many now have teams that are 100% remote. 

If this is the position you’re in, here’s how to manage reps successfully, improve communication, and maximize productivity. 

Start By Choosing the Right Mix of SaaS Sales Software

The number one thing people struggle with when working remotely (along with loneliness) is collaboration/communication at 20%.

And this is understandable. At the end of the day, it’s hard to achieve the same level of collaboration and communication when your team never meets physically. Besides sharing project details and passing along general info, there are a lot of subtleties with tone and body language that you miss out on when managing a remote team. 

But that’s okay. Assembling the right mix of SaaS sales software can cover all aspects of communication and ensure your team stays on the same page. Here are some suggestions:

  • A sales management system – This helps keep teams of all sizes organized and allows you to assign leads, automate workflows, track KPIs, and more. I recommend reading this post from Nutshell for advice on choosing a sales management system. 
  • A video conferencing platform – Products like Zoom and Microsoft Teams offer robust features like one-one-one conversations, group meetings, chat, and webinars and have an incredibly high audio visual quality. 
  • A business communication platform – Slack is the gold standard and lets you interact with your team through both private and public channels.
  • A project management software – Apps like Asana, Trello, and Toggl Plan are perfect for breaking large projects down into manageable chunks and ensuring tasks are consistently completed on time. 

Build a Communication Framework

Another vital aspect of fluid communication is nailing the timing. It’s important to establish some ground rules so there’s a basic schedule and structure in place — one that allows you to stay in close contact with your SaaS sales team but without creating distractions. 

“Remote work becomes more efficient and satisfying when managers set expectations for the frequency, means, and ideal timing of communication for their teams,” explains The Harvard Business Review. If, for instance, it’s a daily check-in where you’re exchanging notes and debriefing a rep, you might communicate through Zoom at the end of the day. But if it’s something urgent, you could ping a salesperson through Slack to get in touch with them right away. 

“Also, if you can, let your employees know the best way and time to reach you during the workday (e.g., ‘I tend to be more available late in the day for ad hoc phone or video conversations, but if there’s an emergency earlier in the day, send me a text.” This should help keep everyone on the same page and minimize distractions so your team can focus more intently on selling. 

Have an Activity Documentation System in Place

Whenever you’re dealing with a team that’s spread out across different states and even different countries, it’s easy to lose track of who’s done what and when they did it. As a result, critical deadlines may be missed, or multiple salespeople may accidentally complete the same task twice. In short, things can get messy in a hurry. 

To prevent miscommunications, you need to have a detailed activity documentation system that automatically logs when:

  • New leads enter your sales funnel
  • Contact is made
  • Tasks are completed
  • There are changes or updates
  • And so on

Sales CRM and pipeline management software, Pipedrive, for example, tracks lead progress from the moment they first enter a sales funnel to when they ultimately make a purchase. 

Not only does an activity documentation system like this provide a single point of reference, it spares everyone from a lot of manual data entry, allowing them to focus on more pressing tasks. 

Create an On-Demand Training Hub

The Harvard Business Review also mentions that “newly remote workers are often surprised by the added time and effort needed to locate information from coworkers (and sales leaders). Even getting answers to what seem like simple questions can feel like a large obstacle to a worker based at home.” 

That’s the last issue to address, and something that can often be remedied by having an on-demand training hub. 

Say you need to get new hires up-to-speed, have them fill out documents, and learn your product. Or, maybe you need a place for existing SaaS salespeople to brush up on their skills. An on-demand training hub creates a single digital resource where you can provide your entire team with 24/7 access to training to position them for success and ongoing development. 

Here are some examples of content you could include on your training hub:

  • Information on your sales process
  • Software tutorials
  • Buyer personas
  • Webinars and videos
  • Helpful blog posts
  • Sales demo examples 
  • Answers to FAQs

You could even create a forum where your SaaS sales team can hold active discussions and veteran reps can share advice with those who are just learning the ropes. 

Thriving in a New Era

Whether it’s due to COVID or simply because you want to take advantage of the benefits a digital sales team provides, many SaaS companies are making the shift to 100% remote. And while there’s certainly a learning curve when it comes to managing this type of team, it’s something that can be done with the right approach. 

Mainly it boils down to leveraging helpful software, establishing clear rules for communication, diligently documenting activities, and providing reps with adequate training resources. 

Want to find elite SaaS sales talent in your industry? See how HireDNA can help you build a stronger sales team, while eliminating 96% of hiring mistakes. 

5 Sales Management Systems to Keep Your SaaS Sales Team on the Same Page

Posted on by hiredna

Successfully coordinating a SaaS sales team is easier said than done. 

Your salespeople may be working on different projects, using different software and apps, or interacting with leads at different stages of the sales funnel. And with a growing number of salespeople working remotely, it’s become more challenging than ever. 

If left unchecked, this can take a serious toll on your productivity and conversions. In fact, “97% of employees and executives believe lack of alignment within a team impacts the outcome of a task or project.”

A surefire way to keep your SaaS team on the same page is by using a sales management system. Here are five of the best. 

1. HubSpot CRM

For years HubSpot has been the gold standard for sales and marketing software. They offer a wide range of solutions, and the HubSpot CRM is the go-to platform for many SaaS sales teams.

It gives sales leaders a bird’s eye view of your team’s pipeline in real-time, including:

  • Overall sales activity
  • Team productivity
  • Individual rep performance

That way they know how close your team is, collectively and individually, to meeting quotas and any areas that need to be addressed.

And it helps salespeople stay organized where they can:

  • Quickly add new contacts to your database
  • Keep track of deadlines
  • Automatically track sales calls, emails, and meetings
  • Share notes 

Every single person on your sales team is in the loop at all times with HubSpot CRM, and you can drastically reduce time wasting activities for maximum productivity. 

2. VanillaSoft

Like HubSpot, VanillaSoft offers a robust suite of products. But the one we’re interested in here is their lead management platform.

“VanillaSoft makes lead management simple with a full complement of solutions to boost productivity, including lead prioritization, email nurturing campaigns, logical branch scripting, call-activity dashboard, and flexible data management.”

One of the most notable features is their real-time inside sales insights, which lets sales leaders monitor team performance, analyze call activity, and track ROI. With it, they can also keep watch of all sales activity in real-time through a call-activity dashboard. 

Besides that, VanillaSoft automatically captures data like call history, emails sent, positive contacts, payment history, and more so you see exactly what’s happened from the moment someone becomes a lead until they make a purchase.

 

3. Pipedrive

Among the numerous features of this sales CRM and pipeline management platform is the ability to track every aspect of communications, including calls, emails, and contact history. This enables your SaaS sales team to stay synced up with another and maintain full visibility of what has transpired in real-time.

Pipedrive also offers a visual history where you can look up a particular contact to see when interactions took place and the last conversations a rep had before following up. That way team members are in a better position to provide timely, relevant offers and have more meaningful interactions with leads. 

There’s a calendar button where you can choose how far back you want to go on the timeline. You can, for example, go back 1 month, 3 months, 6 months, or 12 months.

Screenshot_2020-04-15_at_15.46.13.png

And reps can also add a quick note so other team members will know what’s happened for more engaging future interactions. 

4. Freshworks CRM

This is an incredibly adaptive sales management system that places an emphasis on tracking custom sales activities. As Freshworks CRM puts it, “start tracking sales activities and identify the ones that increase conversions with powerful reports. Get all the insights that you need to streamline your process and start closing deals faster than ever.”

For starters, you can add things like sales events and meetings to identify what’s leading to more quality interactions with leads, which in turn, allows you to steadily improve your team’s performance. 

Next, you can conveniently record and track sales activities, including call logs and notes so team members can see them at a glance. Freshworks CRM allows you to set up notification alerts such as email opens, upcoming tasks, and event reminders so quality leads don’t slip through your fingers. On top of that, you can use it to create silky smooth workflows that automatically creates tasks whenever a new lead enters the sales funnel.

5. Monday.com

Primarily known as a high-level project management tool, Monday.com also has a CRM solution that works perfectly as a sales management system. One of the main reasons users love it is because of how visual it is. Monday.com offers a robust interface featuring powerful charts and graphs where sales leaders can monitor sales team activity, see how deals are coming along, and check the progress of individual reps. 

As for salespeople, they can stay on top of all lead interactions, including emails, phone calls, and meetings. They can share relevant documents with other team members from a single, ultra-organized communication dashboard. 

And they can use their mobile devices to track deals whenever and from wherever they happen to be. Monday.com even offers an offline mode when the internet isn’t available. This gives your SaaS sales team a 360 degree view of your pipeline and should eliminate costly communication gaps. 

Ensuring Seamless Collaboration 

I can’t stress enough how important it is to keep the communication flowing with your SaaS sales team. From the point someone officially becomes a lead and enters your funnel to the moment they pull the trigger and buy, all of your reps need to be on the same page. 

Otherwise, the lead experience and ultimately your conversions will suffer. In fact, 86% of team members say a lack of collaboration and ineffective communication is the main reason for project failures. 

Using one of the five sales management systems listed here should keep everyone in the loop and the conversions coming. 

Looking to build a stronger, more talented sales team? Learn how HireDNA can help you source top talent using intelligent matching and science-based assessments. 

How Do Top Performing SaaS Companies Boost Qualified Leads by 451%? Find Out Here.

Posted on by hiredna

Lead generation is hands down the biggest priority for most SaaS sales teams. You need to have an effective means of continually injecting leads into your sales funnel so your salespeople can nurture them and ultimately convince them to buy. 

But what’s equally important to generating leads is generating qualified leads. After all, what’s the point of driving leads into your sales funnel if they’re not qualified?

On that note, here’s a surprisingly simple way top performing SaaS companies boost their qualified leads by as much as 451%.

Drumroll…

Two words — marketing automation. 

Studies have found SaaS companies that use marketing automation with prospects see a 451% increase in their number of qualified leads. That’s major!

If you’re not 100% sure what marketing automation is, it’s the use of technology to automate and streamline several aspects of the marketing process. SaaS companies can use it to:

  • Generate, nurture, and score leads
  • Segment leads and provide them with highly personalized content
  • Minimize onerous manual tasks like sending emails and texts
  • Generally increase marketing and sales efficiency

Within the context of this post, the main way SaaS companies use marketing automation to boost qualified leads is by optimizing lead nurturing and scoring. 

“This drastic increase happens because marketing automation nurtures a prospect through the sales cycle,” explains Kevin Krason, CEO and founder of Biznet Digital, a full-service digital marketing agency. “Instead, leads that have been digitally identified, tracked, and scored on their interest and interaction level based on quantifiable data will proceed to sales.”

At the same time, marketing automation puts your company in a position to expand its reach and provide a highly personalized, targeted lead experience at scale. 

As Salesforce puts it, “Good automation tools help you identify your audience, design the right content, and automatically trigger actions based on schedules and customer behavior. Once your campaign rolls out, you can focus on other tasks, then analyze and tweak your marketing plan as results start coming in.”

Most people agree the more personalized marketing is better, as this boosts lead engagement, addresses their unique pain points, and helps greatly with rapport building. So by the time your marketing team hands a lead off to sales, the lead has been adequately nurtured and are “primed to buy.” And because both your marketing and sales team spend less time on manual tasks, they can cover more ground and interact with a higher volume of leads. 

When it’s all said and done, nurtured leads produce 20% more sales opportunities than those that are non-nurtured. 

An Example

To fully understand the process behind marketing automation and how it helps dramatically crank up the number of qualified leads, let’s look at an example. Here’s what a lead’s info might look like on a marketing automation platform. 

Notice it includes:

  • The lead’s name
  • Title
  • Category
  • Contact info
  • First and last activity
  • Score

Also, notice the engagement history where it mentions the form the lead successfully completed and viewed, along with the whitepaper they downloaded and the corresponding email that was sent. 

At a glance, this gives a SaaS company a bird’s eye view of the lead’s details, including the specific content they initially viewed when entering the sales funnel. By having this level of overview and knowing the engagement history, the company is able to create meaningful interactions, while automating much of the process. After downloading the whitepaper, for example, the company automatically sent out an email to promptly follow up. 

And it by no means stops there. By having a 360-degree view like this, the SaaS company can tap into any other marketing channels they like, including social media, SMS notifications, and targeted digital ads. Or, whenever the lead returns to the company’s website, they can suggest specific products the lead is most interested in. All while automating the process, allowing the marketing team to accomplish a lot more with minimal expenditure. 

In turn, the lead is engaged with on multiple channels, has all of the information they need to make an informed decision, and has interacted through multiple touchpoints. So you can see how marketing automation can help SaaS companies increase their number of qualified leads by 451%. 

And This Gives SaaS Sales Reps a Huge Edge

Then, once it’s time for sales to take over, where a rep speaks with a lead over the phone or gives a product demo, the lead has already been thoroughly warmed up and is likely ready to buy. Rather than dealing with an ice cold lead who may have little familiarity with the product and a ton of skepticism about the brand, the heavy lifting has already been done. 

Now the salesperson basically just needs to address any questions and concerns to officially convert the lead into a paying customer. Not only can this help increase the conversion rate, but research has also found “nurtured leads make 47% larger purchases than non-nurtured leads.”

Send Qualified Leads Soaring with Marketing Automation

Thriving in the SaaS industry requires more than just generating leads. You need to generate qualified leads — preferably at a high volume. 

Hands down, one of the best ways to do this is with marketing automation. It can be a true game changer for effectively nurturing leads from the moment they first learn about your SaaS company to their final interaction with a salesperson before buying. And by eliminating many of the time-consuming, manual tasks, it allows your team to engage with far more leads than they could otherwise. 

For further reading on marketing automation and how to successfully implement it, I suggest checking out this overview from Salesforce and this guide from the Digital Marketing Institute. Both are extremely helpful and will quickly get you up-to-speed. 

And to learn how to streamline your SaaS sales recruiting, check out HireDNA. Use it to attract and retain better caliber candidates to take your sales to the next level. 

Over Three Quarters of Salespeople Now Use Virtual Meetings: How to Adapt to This New Trend

Posted on by hiredna

The transition from physical to digital is nothing new and has been happening in the sales world for quite some time. Making pitches to leads through video conferencing software and doing virtual demos, for example, are things most salespeople are at least somewhat familiar with. 

But COVID-19 has accelerated this transition dramatically, pouring gasoline on the fire of digital transformation. Travel restrictions, social distancing, and a more contactless way of life have forced salespeople to switch up their approach and embrace virtual meetings. 

Here are the details and how to adapt to this new trend. 

77% of Salespeople Are Having Virtual Meetings Post-COVID

In 2019, 43% of remote and in-house teams used a video conferencing platform — a significant number, but nothing overwhelming. In the wake of COVID, however, that number jumped all the way to 77%, for a 34% year-over-year increase. To illustrate this spike, just look at the price of Zoom stocks and how they’ve skyrocketed since mid-March 2020 when COVID hit the US hard. 

And this has created some major changes in how salespeople interact with leads. 

“There’s been a fundamental shift in how B2B sellers connect and communicate on an interpersonal level,” says Sean Callahan, Senior Manager of content marketing at LinkedIn. “There are no firm handshakes. No fresh-printed sales dossiers. Everything from the pitch to the proposal is going digital, which means B2B sellers need to adapt.”

Virtual Meetings Become the New Norm

It should also be noted that this isn’t a trend that will go away as life goes back to normal.

“Even after the pandemic ends, it is likely that virtual meetings will be more commonplace,” Callahan adds. “With more than three-quarters of sellers saying they are holding more virtual meetings, the tools and skills are gaining traction; meanwhile, buyers are also becoming more familiar and comfortable with this method of interacting.”

As more and more companies, as well as consumers get cozy with virtual meetings, you can expect this to become the new norm and the preferred means of communication for many people. 

Afterall, video conferencing tools offer a ton of benefits, including:

Besides that, research has found these tools can improve communication and relationship-building. Here’s some notable data from a Lifesize survey. 

You can’t put the genie back in the bottle on something like this, and virtual meetings are here to stay regardless of what happens with COVID moving forward. That means sales teams need to get on board with this technology, and fast. 

How to Adapt to This New Trend 

So, what are some specific steps your company can take to ensure you’re up-to-speed and on pace with the competition? How do you fully capitalize on this technology? 

Here are some ideas. 

Use Universally Recognized Video Conferencing Software

For starters, you need to pick the right platform to hold virtual meetings on. There are numerous options out there, so you’ll want to choose one that’s user-friendly (both for salespeople and for leads) and that’s used universally.

At the moment, the most popular virtual platform is definitely Zoom. We mentioned earlier that their stock value has soared recently, and this graph shows how it’s head and shoulders above the competition. 

So, if you’re looking for a “safe bet” tool that’s easy to learn and that leads will recognize and feel comfortable with, Zoom is the clear choice. Some other top contenders include GoToMeeting, Join.Me, and Cisco Webex. 

Turn the Camera On

Next, have your sales team encourage the leads they’re speaking with to turn on their cameras. Why? 

Research has found that closing rates increase by at least 10% when cameras are turned on. That’s largely because it helps with rapport-building and makes it so salespeople can read a lead’s body language more easily for deeper interactions. The easiest way to encourage leads is to use a script like this one created by Marcus Sheridan of ImpactBND. 

That right there can be huge for creating closer connections between your salespeople and leads and can boost revenue considerably. 

Master Screen Sharing

In most cases, a salesperson will need to share content with a prospect such as a product demo, a whiteboard, or an application. Any friction during this process can make a rep look unprofessional and derail even the best of presentations. 

That’s why they need to know the ins and outs of screen sharing and be able to seamlessly share content without any hiccups. Have them check out a screen sharing tutorial of the software your company is using — here’s one from Zoom as an example — and practice until it’s automatic. 

Follow Virtual Meeting Interaction Best Practices 

Having a sales call virtually comes with its own set of best practices. Here are some of the most important to follow:

  • Look directly into the camera – Know exactly where it’s located and use consistent eye contact
  • Keep the right distance from the screen – Be close enough so a lead can see a rep’s face but not so close that they’re hovering
  • Use the right volume – Leads should be able to comfortably hear, but it shouldn’t be so loud that it’s distracting
  • Turn off online messages or notifications – Getting pinged during the middle of a meeting can throw off the vibe. 

Adapting to the New Norm 

Virtual meetings were already catching on before COVID struck. But with the pandemic greatly reducing face-to-face interactions, the use of virtual meetings has absolutely skyrocketed. Therefore, it’s essential that your sales team not only gets familiar with this technology but learns how to master it. 

Looking to find top tier salespeople that are skilled with this and other technology? See how HireDNA can help you find better sales talent, faster using science-based sales assessments. 

Request a demo now. 

Keeping Your Reps Sharp With Virtual Sales Training

Posted on by hiredna

As we’ve pointed out in previous blog posts, experienced sales leaders know that the best way to improve your win rate is to improve your reps’ effectiveness. Increasing sales activity is one piece of the puzzle, but it must be combined with greater effectiveness to be successful.

Your single greatest tool for increasing your reps’ effectiveness is your training plan. Ongoing training and coaching keeps reps’ skills sharp, and keeps them on top of the latest tools and techniques needed to generate successful sales conversations.

While the current coronavirus pandemic has put traditional in-person training sessions on hold, smart leaders are embracing virtual sales training – and are seeing huge benefits as a result.

Virtual Sales Training Can Outperform Live Sessions

One of the biggest myths surrounding virtual training is that online training is a pale imitation of live classroom sessions. A recent industry survey found that while 65% of companies plan to increase their investment in virtual training, only 10% believed that virtual training could be as good as live, instructor-led classroom events.

But in a controlled field test comparing reps who participated in live classroom training and online-only training, the results were abundantly clear:

Sales teams who completed online training delivered 23.2% more pipeline than similar teams who received live classroom training

Sales reps who completed online training experienced twice the boost in confidence levels when engaging executive decision-makers, compared with those who attended live classroom training

This field test demonstrated that the self-paced, flexible, and personalized experience of virtual sales training can present drastic advantages over a live-classroom setting. When the reps deeply engaged with the training content in a virtual setting, they not only learned critical new skills, they also gained confidence in their ability to apply those skills to the real-world sales environment.

How Virtual Training Benefits Your Sales Team

In addition to improved performance, virtual training offers your organization several key advantages over live classroom sessions, including:

Reduced Costs – Virtual training eliminates the need for travel and classroom costs, and can reduce opportunity costs associated with time out of field. This can reduce your overall training costs by up to 50% without reducing the training itself.

Scalability and Accessibility – With travel coordination eliminated and scheduling concerns simplified, virtual training can be implemented quickly and effectively to address strategic needs. Large-scale training rollouts can be completed in a matter of weeks rather than months, and can be immediately accessible to all members of your sales team, regardless of location. This is particularly crucial when travel concerns – such as those created by the current coronavirus pandemic – might otherwise hinder your organization’s training plans.

Targeted Training – The agile nature of virtual training allows for highly targeted programs, tailored to either individual, team needs, or acute strategic objectives. Rather than using a one-size-fits-all approach, virtual training provides greater flexibility to created targeted content that addresses specific skill gaps or performance indicators, like decreasing pipelines, diminishing close rates, declining sales activity, etc.

It also allows for the rapid creation and deployment of training based on time-sensitive strategic needs, such as product launches, price changes, industry developments, supply chain disruptions, or other timely communications.

Deeper Learning Opportunities – A self-paced online training environment often allows for added depth of engagement with training material versus in-person training. Live classrooms can create limitations, as both participant and instructor attention may be divided and time constraints may prevent every attendee from participating. Online training can give participants more opportunity to practice and complete assignments to demonstrate proficiency.

Leveraging Virtual Training Expertise

Not all virtual training is created equal. The right approach and training curriculum can make a significant difference in the success of your training program. Maximize your investment in sales training with curriculum that targets your team’s specific skill gaps and sales DNA, and a platform that simulates the real-world environment and keeps reps engaged with the right combination of content, implementation guides, and personalized action plans.

The sales training and coaching experts at HireDNA can help you navigate the learning curve, deliver high-quality training that works within the workflow of your sales team, and feel confident knowing you’re going to deliver the same or better results as an in-person classroom.

HireDNA was recently recognized as an emerging leader in corporate training and coaching. Our experts can assist with any questions about building first-in-class, on-demand sales training tailored specifically for remote sales forces.

Are You Giving Your Sales Team the Right Tools?

Posted on by hiredna

It is your job to tap into the talents and abilities your sales team already has and enhance them. To do this, equip your sales force with the tools to turn possibilities into realities. Use these tools and strategies to make sure your sales force has what it needs to succeed.

Sales Software

Many types of software are designed to enhance and assist a company’s sales force. One application that is extremely effective is InSitu Sales, which is an easy download on a phone; it tracks all sectors of necessary sales information such as invoices, orders, and estimates. People can also use it to assign territories to specific sales representatives and view maps of areas where customers are.

Another great software for sales is Sales force Configure Price Quote (CPQ). It focuses on financial documentation and information. The CPQ software will help your sales team create easy quotes for customers and clients.

Insight Squared is also a good option for sales enablement. It can create advanced graphs and metrics that illustrate various aspects of your business. Insight Squared is ideal for companies that use Excel extensively, because it provides the same services in a more advanced and easier way.

Provide Ongoing Training Sessions

Another tool that will help your sales team succeed is ongoing training. Many companies have the initial sales training and then rarely revisit any educational opportunities. Sales people are often the factor that determines whether a customer will use your company or not. It is vital to keep them well-informed about your products and up to date about any recent advancements in the industry. Ongoing training sessions also help you hone and refine certain skills that are important for an effective sales person to master. Technology can be used to enhance the ongoing training as well. Some great examples are Refract, ExecVision, RapidLearning, and Spiro.

Online Sales Solutions

Many technological tools exist to help your reps sell faster – and smarter. Solutions like Linkedin Sales Navigator can help get information on new leads and existing accounts, and effectively connect with prospects. Another helpful platform, Zoominfo, boasts the most email addresses and direct dials than other intelligence providers. For more options for sales communication, check out Salesloft, to help personalize email communication and effectively make decisions based on customer data.

Contact our experts to learn about how we can help you equip your sales force with tools that will lead them to success.

Not hitting your Sales Goals? 3 Tips for Record Sales in 2017

Posted on by hiredna

Entering the New Year, many executives are reflecting on how to increase revenues.

If you’re coming off an excellent 2016 you may be looking at how to replicate your success, and if it wasn’t such a great year you are probably trying to figure out how to right the ship.

No matter the case, CEOs and Sales Executives want to improve and grow their annual revenues.

To make 2017 your best sales year yet, here are 3 insights to help you exceed your goals.

Put an Actionable Sales Process in Place

Companies with a documented sales process close more deals – it’s that simple. According to Salesforce, businesses with a sales playbook are 33% more likely to be high-performers, yet 40% don’t have a sales playbook. 

With a documented sales process, your sales representatives are armed with actionable steps to systematically navigate and execute the sales process. Clarity on next steps will help to speed up the sales cycle, improve productivity and increase closing efficiency.

When creating or optimizing your sales process, make sure to cover these 3 critical areas:

  • Outline your sales process: Outlining and documenting your sales process gets your team on the same page. Aligning your sales process to your buyer’s needs will define what actions need to be taken in order to attract and close new business.
  • Define your steps and KPIs: It’s important to define the steps, stages, and key performance indicators ( KPIs ) for success. It’s great to have sales goals, but without clear steps to meet those goals, you’ll struggle to get there.
  • Automate your sales process: Leveraging a CRM tool is the best way to streamline your sales process, track activity, and manage your pipeline. Tailoring the platform to your unique sales process will help to automate sales – increasing your team’s efficiency. 

Example of a sales process.

How effective is your sales process? Schedule a free sales process evaluation. 

Recruit the Right Salespeople

On average 67% of all salespeople fail to meet their sales quota. This is an expensive problem to fix, but the best way to increase your odds of boosting sales is to have the right people with the right skills for YOUR sales system.

Here are 5 steps to take to ensure you select and hire the best talent for your team. 

1. Define your ideal candidate profile: Before you begin recruiting, it’s important to understand your ideal candidate. Work with your team to understand the specific competencies, product knowledge, and personality traits that are needed to be successful. This profile will serve as your benchmark and qualification criteria for evaluating candidates.

2. Consider your recruitment strategy: You’ve established your ideal candidate profile, you need to map your scouting strategy. Defining your approach creates clarity to identify, attract, and select the right candidate for your needs.

3. Structure your interview process: Before you begin scheduling phone and in-person interviews, you should collaborate with other relevant stakeholders to determine what you want to learn about your candidates on the front-end. Like most things in life, being prepared is half the battle for a smoother process. Use the candidate profile to get a clear idea of the qualifications you’re seeking to add to your team. Let it guide you to ask specific questions that will give you deeper insights into your candidate’s relevant experience and compatibility with your sales environment.

4. Incorporate a sales skills assessment: To accurately predict sales performance it’s going to require more than a personality test. Sales skills assessments will measure the candidate’s sales DNA to ensure you hire the perfect match for your business and sales environment. Include the assessment at the beginning of your screening process to dramatically reduce the time and energy spent interviewing unqualified candidates. Choose an assessment that is customizable to your ideal candidate profile and sales environment to get a true gauge on compatibility.

5. Don’t stop once you’ve given an offer: Your onboarding and training program will play a considerable role in the success of your new hire. You should begin developing your on-boarding program prior to making a hiring decision.  Your on-boarding program should define the tools and resources needed for success. Providing the proper support and setting clear objectives will go a long way to accelerating ramp-up and reducing turnover.
How much is a bad sales hire costing you? Check out this sales hiring mistake calculator.

Implement the Right Tools and Technology

Utilizing the right technology will help to automate your sales process, increase sales productivity and improve efficiency. 

The importance of choosing the right technology cannot be understated. Using the right tools to track metrics and analytics will provide valuable information to help you make informed decisions.

With the wide variety of technologies available, below are 3 steps to help you determine the right option for your needs.  

  • Define requirements: Not all tools are created equal. Clearly defining your user and technical requirements will help you determine the features and functionality your sales team requires.
  • Keep the future in mind: Whatever technology you choose, consider your needs down the line. If your business grows exponentially, will that tool scale with you? Companies that only consider their present needs may end up requiring a more robust platform in future. In most cases it’s better to over buy and turn on new features as you need them, rather than migrating to a new system at a later time.
  • Plan your implementation and user training: Many organizations purchase a new system, but fail to establish an actionable plan for how to roll it out to their team. Not taking the time to properly plan your implementation and training needs will often lead to low adoption and improper use. For your team to use your sales tools effectively, it’s important to provide them with instructions and best practices. 

With your actionable sales process, the right team, and the appropriate technologies in place, you are well on your way to executing your vision and surpassing your sales goals in 2017 .