Six easy steps to shorten your sales cycle through CRM:
1. Measurable cycle time
It is a known fact that matters that cannot be measured cannot be improved. Quantify your sales cycles first to determine areas of improvement, upon which course correction steps can be applied. You will be able to identify and eliminate processes that are unnecessary to business sales process.
2. Right Assignment
You can assign the right leads to the right sales person. The CRM solution can give you a brief overview of the prospect pipeline and the most suitable rep to take it forward. With such targeted assignment, you can take advantage of revenue opportunities as and when they show up. The probality of conversion also rises considerably with such related assignment.
3. Proper co-ordination
Sales cycle reduction needs to have proper coordination between marketing team members. It is often seen that multiple sales personnel contact the same lead for the same purpose. Not only does this lead to resource wastage, it also creates a confusing scenario with the leads; which does not lead to a good image in the minds of prospects. It is very important to keep a consistent message across departments. The marketing team also needs proper assistance from different departments like finance, operations etc and cohesive coordination is the key. This results into cooperation improvement within team members and increase in quality customer face time.
4. Information readiness
You should never let lack of information be a cause for unnecessary delays. Always ensure that your front-line executives have all the information available at their finger tips. A quick reaction to questions fielded will cut out time constraints and will result in faster service. Prospective leads will be amazed at the speed of resolution and this good impression will lead to faster conversions, shorter sales cycle.
5. Automated approvals and escalation matrix
Too many good leads have been lost due to business red tape. Manual approval processes tends to slow down the sales process and builds up low morale among sales team members. This drawback negates itself through crm solutions, that give you the ability to auto approve leads and establish pre-defined escalation matrix. This will also allow you to work on your neglected leads, that can be a huge treasure triove for sales pipelines, which brings us to our next point.
6. Concentrate on neglected customers
The best cloud CRM solution will allow you to concentrate on neglected customer, that when handled right can turn into repeat business. The steps listed above can bring these customers into the limelight and allow you to approach them for their current business needs. You can also reduce duplicated efforts and increase the number of live leads on your CRM software.
The above five CRM steps should assist you in using CRM sales solution to its fullest potential. Follow them and see your sales target achieved in no time!
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