At the beginning of the month, we presented our sales methodology for the individual salesman: The Sales Black Box. Today, we wrap-up the theme of the Sales Black Box here at VizQuest Ventures. As before, returning readers will view this as a nice review of this month’s content. For the new-comers of our blog: Welcome! If you’d like the full run-down of our Sales Black-Box, I highly encourage you to read our blog posts from February. With that said, let’s talk about how improving efficiency, speed and time can improve the black box of the individual salesman.
Efficiency can be broken down into multiple categories when it comes to sales. You can improve your efficiency greatly through inbound marketing and data quality. Inbound marketing improves efficiency because it puts more emphasis on the prospect contacting you. Having the prospect contact you has a higher conversion rate due to a pre-established relationship based on interest, but creating that type of marketing campaign takes more time than other marketing methods. In addition, improving data quality works just as well, if maintained properly. Enhanced data quality will result in better analytics, ensuring that you cut out unqualified info and yield more sales opportunities. The categories that make-up efficiency act similarly to the components inside our TVs; marketing campaigns are the ads in-between shows, while data quality is the components inside the black-box. If each component is maintained properly, then you’ll see the clearest picture on the TV, or see the most valuable sales opportunity.
Speed is used as the relative time it takes to go through one input or contact. The ways we like to increase speed are through the Customer Relationship Management System (CRM), integration and organization. A CRM is invaluable for increasing speed because it’s an easy way to store and search through your contacts, alongside any notes on the corresponding contact. Integration ensures that you can access your contacts through multiple online platforms and devices, like smartphones. Organization maintains speed by listing the most important information first and foremost, that way each sales rep spends less time searching for information and more time making dials. Think of speed as the processor of the black-box; it allows you to navigate through all the channels as quickly as possible without delay, ensuring that you get quickly to the best shows. In other words, maintaining speed within the sales black-box ensures that sales reps will make the most dials in a given business day, thus increasing the yield to sales opportunities.
Lastly, time management is the cornerstone of a great sales black-box. Commonly, sales reps increase their time by coming in earlier and leaving later, but this is also an easy way to lower motivation, moral and increase chances of burnout. A more efficient way of time management is “time-boxing,” which segments duties by deliverable and ends with a reward upon completion. Each time-box should be measured in increments of minutes or hours, not days or weeks. This method improves time management, but eliminates the need to extend the workday and the possibility of lower moral. To fit within our allegory, the concept is similar to viewing a TV show; shows within the half-hour and hour range allow for some relaxation and rest in-between shows, but any show longer than that will lose the viewers interest. Remember, the point of time management is to reach and maintain your quota without lowering employee morale.
The sales black-box is the key to managing your workday and keeping track of your sales metrics. In order to maintain an ideal, high-functioning black-box, you must equally maintain efficiency, speed and time throughout each workday. At VizQuest Ventures, we dedicate time to improve our sales black-box daily to ensure that all of our employees work at maximum capacity, but don’t do it at the cost of morale or burnout.
Be sure to check back next month as we cover the VizQuest training Methodologies that ensures an efficient sales team.