By Lauren Dichter, Marketing Coordinator for Heinz Marketing
“Smiling and dialing” will always have a place in sales, but it only does so much. That’s why Microsoft Dynamics 365 and Heinz Marketing have teamed up to uncover what kind of sales strategies and technologies contribute to achieving desired revenue goals. To ensure we could report on an accurate view of the B2B sales scene, we surveyed a wide range of sales leaders from mid-market companies to large, global enterprises.
The Portrait of a Successful Sales Team
From our research results, we’ve developed a profile of the most successful sales organizations. Applying these detailed insights to your sales process could make all the difference in closing on crucial business.
- Top sales organizations prioritize building strong relationships with the right people on the buying committee. In fact, more than 80% of respondents who report being effective at building these relationships also report being effective at achieving desired sales goals! To do this successfully, they invest substantial time in laying the groundwork. These companies:
- Have effective contact, lead, and account data management systems in place
- Regularly collaborate with other sales team members
- They also learn how to leverage data and consumer insights in order to move deals forward. Nearly 80% of successful organizations reported their current set of sales tool capabilities are key in enabling their sales team to achieve revenue targets! The most consistently successful companies:
- Rely on sales tools that can put the data to work for them
- Synchronize leads across various platforms
- Leverage a system of predictive lead scoring
- Integrate social network data (i.e. LinkedIn Sales Navigator)
- Increase the visibility of social engagement on multiple platforms
- Automate sales playbooks
- These organizations have also established a way to scale sales efforts across multiple prospect relationships. Over 70% of respondents said effectively implementing this scaling process translates into consistently meeting revenue goals! Powerhouse sales teams can maximize their reach with efficiency, while remaining personable in their communications with prospects. Their leadership helps them understand how prospects engage with sales content and use interaction data to aid in determining the next best step to take.
- The internal relationship between sales and marketing plays a critical role in a company’s ability to successfully engage in any of the 3 sets of activities listed above. In fact, more than 75% of those who achieve their revenue goals also say their organization has a strong alignment between sales and marketing. The most cohesive sales and marketing teams:
- Have a mechanism for providing constructive criticism and feedback to each other
- Share reports and insights
- Operate a coordinated sales process
- Finally, these companies measure—they evaluate progress against predetermined KPIs. Sales and marketing have reached a new level of maturity where measuring everything from setbacks to progress is just as important as executing a campaign. 62.5% of sales leaders say they’re confident in the metrics and KPIs that guide their sales performance, and 72.3% of organizations that meet their numbers feel their current KPIs are an effective way of measuring progress. Using benchmark data allows elite companies to plan for sales success day-in and day-out, instead of just hoping for it. The metrics that carry more weight when it comes to achieving revenue goals are:
- Overall growth of the lead database
- Prospects’ engagement
- Number of contacts within each target account
- Quality of the past conversation history
- Total number of warm network referrals
The blueprint for consistently meeting revenue goals is a set of interdependent components. The most effective selling can only occur when technology and systems are connected, automatically syncing prospect and customer data to allow sellers to focus on relationships. Actually closing a deal is impossible without establishing strong relationships with the right mix of decision-makers and influencers in a buying committee. Moreover, maximizing revenue generation depends on a company’s ability to sell at scale.
Has your sales team mastered these elements? Is there room for improvement? How many members of the buying committee does your sales team engage within each target account, and does that communication occur on a regular basis?
As sales and marketing executives, these are the type of questions to ask yourself. You must look under the hood before going full speed ahead, and the same is true with a sales organization.
You Know What to Do