How To Grow Revenues With Sales Development
Traditionally, selling has always been about closers. They convince prospects to buy their company’s products and services. And for that, they gain all the attention—and glory—that comes with making B2B sales.
So when it comes to growing revenues, it’s no surprise that businesses invest heavily in closers. Yet, two-thirds of them miss their sales quotas. That’s right. Two-thirds miss their quotas.
That hurts revenue growth big time. What’s more, by ignoring the rest of the sales team, you leave money on the table. That’s money you can’t get back.
If you’re looking to grow revenues, read on. We’ll show you a proven way to get the most from your sales team through the sales development process—all while boosting revenues, saving time, and cutting costs.
Sales development isn’t just about increasing sales. Giving discounts can do that. But giving discounts costs you revenue. Sales development, on the other hand, boosts revenue. It encourages companies to engage in increasing sales at all levels—from R&D to marketing and sales.
Below are five tips you can use to boost revenues at your company through sales development:
- Improve the quality of your leads
Closers don’t talk to random members of the general public. And they don’t lead prospects through a sale from start to finish. Closers talk only to the highest quality leads. That increases their chances of making a sale. Obviously, then, you need leads not inquiries for your sales people.
That’s where sales development can help. Improving your lead qualification process improves your chances of making a sale in the B2B arena. Generating higher quality leads means your sales team deals only with people already interested in your products or services. Thier easier sells.
- Create customer relationships
Closers focus on selling. Sales development focuses on creating relationships. In previous years, this difference didn’t mean a great deal. But now it’s a big issue. The latest research shows that customers want a relationship with the companies they buy from.
And that starts from the first human touch point. Sales development is as much about forming relationships through a human-to-human interaction as it is about mining leads
- Find out what customers want first
It’s easy to look at sales development and closing in black and white terms. Sales development is about qualifying leads and closing is about actually making the sale. But sales development is as much an essential part of the overall selling process as closing.
Why? Because many customers don’t know what they want or what’s available to them. So It’s not uncommon for some one at a company to interact with customers multiple times before they ever start thinking about buying something.
Put another way, the sales development team helps closers understand what a specific customer’s problem is and what sort of solution they want. Without help from your sales development team, closers are flying blind. And that can only end badly for you.
- Use analytics to qualify prospects
Qualifying leads is primarily about using the numbers. That’s what your sales development department spends a lot of time doing. Sales have become more predictable than ever before. By looking at the metric data, you can predict how likely it is that someone will buy.
If your sales development team determines that someone is highly unlikely to buy, it eliminates that lead, saving closers time chasing down that lead. Chasing down poor leads is the leading cause of inefficiency in sales. It forces sales people too spend valuable time on customers who were never going to buy anyway.
- Eliminate inefficiencies in your process
It doesn’t matter what industry you’re in. The world of sales has changed. Today, selling is less about mastering the art of persuasion and more about eliminating inefficiencies in your sales processes. These days numbers are king, not words.
Sure. Some pure selling still goes on. But it only happens when the odds are firmly in your favor. The days where sales reps sat in a room and cold called customers are long gone. You must increase efficiency if you want to squeeze the most out of your sales teams.
Where Should You Put Your Money?
That’s easy. Invest it in sales development. Instead of adding closers to your staff, invest in technology and a better lead qualification process. Then, make it easy for closers to make a sale by implementing an effective sales development process at your business.
Fortunately, dozens of software-based platforms exist that can help you do this. They can enable you to track the right metrics and then make sense of it all. Using the sales development approach boosts revenues and drives your business to achieve bigger and better things.
How are you using the evolving sales development role today?