As a sales manager few things keep you awake at night more than your company bleeding revenue. When this happens, it’s easy to get into reaction mode: Plugging the metaphorical holes to stop the bleed.
But it doesn’t have to be this way. There are 5 factors you can assess right now to improve your company growth strategy, stop the bleed, and increase revenue.
Assess These 5 Factors to Improve Your Company Growth Strategy
- Assess your OKRs: What are your Objectives and Key Results? OKRs are goal-setting tools you can use with your whole team to help you measure success. OKRs give you the ability to visibly track the time each activity in your sales team takes and will help your team feel more organized and confident.
- Assess your work process: If you have no set work process, how can you see what is working for your team, what isn’t working, or where bottlenecks occur? A set sales process creates transparency for your team while driving revenue.
- Assess your network: We’re in the middle of the platform revolution, where your users and producers have a never before experienced chance to interact together and create value together. It’s time to decide: Are you operating a platform or a pipeline? And how available are your producers to your users? Bonus: Improving your network improves customer lifetime value (CLV) and your customers and users get more value out of the experience of hiring you, they’re more likely to stay loyal to your company.
- Assess teamwork between marketing and sales: If your marketing and sales departments aren’t working fluidly, consider creating a Service Level Agreement (SLA) for them. An SLA allows both teams to understand what the other is trying to achieve, who is responsible for what, and how results can be tracked and improved. You’re having this gap in your revenue if “marketing’s best lead is sales' worst lead.” If your reps prioritize their leads over leads coming in from digital marketing, you’re likely throwing your entire digital marketing budget down the toilet: inbound leads cool off exponentially within the first few hours.There is no point doing inbound unless your reps are going to be quick off the mark to build relationships.
- Assess your results and improvement process: Often we work so hard to launch a new process or initiative but never include time to track and improve our results in our process. Software like HubSpot makes tracking, measuring, and improving processes easy. Create a dashboard for the reports that matter to you as you build out your new sales or marketing initiative. It’s much easier to do it while you are planning and excited about what results you hope to see. The more confidence you have in the reports the more you’ll check that dashboard daily over your cup of coffee, just like Hubspot always promised you would.
These 5 factors are simple ways to create more efficient processes and give you and your team back your time to stop the revenue bleed. Once you’ve assessed these factors there’s another step you can take for your sales growth strategy. Download the e-book below to learn how to continue to improve company growth and much of your projected revenue should go to marketing.