3 strategies to drive your sales productivity
3 strategies to drive your sales productivity
Are you looking for ways to drive your sales productivity? Read the article below!
In 2020, the retail sales of consumer goods in Vietnam grew by 6.8%, the lowest annual growth rate in the observed timeline, published by Statista Research Department. This decline seems to not only happen in consumer goods but also in other sectors of the retail industry. So if you are finding ways to drive your sales productivity, read the article below.
1. Prioritizing continual training programs for the sales team
87% of training content and information is forgotten within weeks. Meanwhile, the sales environment is constantly evolving, and the buying process is increasingly more complex. Sales coaching can increase sales productivity by 88%, yet 73% of sales managers spend less than 5% of their time on this task. That’s why prioritizing continual training programs for sales forces is one of the most effective strategies to increase your sales productivity.
2. Evaluate and re-evaluate sales processes
What are the pros and cons of the sales process and where are there gaps or roadblocks?
Companies that follow a defined workflow are more likely to increase their sales productivity up to 33%. This is because once having a consistent process, a business should always be looking for ways to improve it. As a result, evaluating and re-evaluating business’s procedures become an essential strategy. It helps businesses to look for areas to fine-tune and to continually integrate optimized processes into the business workflow.
3. Embrace automation and technology
Successful fashion and specialty retailers are recording customer conversion rates of 10-15% when they should be starting at 30%, reported by Workplace System Company. In today’s market, sales employees are increasingly frustrated by the poor levels of business management. That is why embracing automation and technology can help managers to manage costs while ensuring maximum productivity and conversions. For example, Connection and Management Sales Force Application will help your business increase internal communication, well-being, and association between employees and organization. Employees will also be able to see personalized information about their sales incentive plans, product information, progress towards sales targets, and how they rank in competition with other stores.