Did you know that roughly 50% of sales reps don’t meet their quotas? If half of your sales team is failing to reach their KPIs, this is not the time to shrug and keep handling business as usual.
When your sales reps aren’t hitting their quotas, a vicious cycle is created. Annual turnover rate for sales teams is around 25%. The revolving door of team members is a morale killer, and it affects a huge number of companies today.
It also hurts your company’s bottom line. The process of hiring and onboarding a new employee can reach costs up to 200% of that position’s annual salary. If you’re having to do this too often, it can be hard for even your best sales reps to pick up the slack.
One of the main reasons sales reps fail to hit quotas is a lack of quality sales coaching. At Base, we know that data-driven coaching in the form of actionable, prescriptive recommendations is the best way to keep a sales team on target.
Effective Sales Behavior
Even the best salespeople aren’t always the best coaches. While they themselves may have excelled in generating leads and closing deals, it doesn’t mean that they can teach others to do the same.
Instead of just telling your sales team to work harder, our CRM gives reps the tools to work smarter. We also make it easier for managers to read insights into sales reps’ performance.
Data-driven sales coaching matters. Studies have shown that sales reps who receive 3 hours of sales coaching per month surpassed their goals by 7%, growing revenue by 25% and boosting their average close rate by 70%.
Decisions need to be made with data, not gut feelings. We’ve built our CRM to provide actionable insights. For instance, we provide managers with key performance indicators such sales activity reports and call and email outcomes. They can compare their sales reps uniformly to see who is leading the pack and who needs a little extra attention.
If you have a struggling sales rep, you can pinpoint the problem immediately and provide actionable next steps for improvement, instead of waiting for deals to fall through or for potential customers to find your competitors.
Overcoming Process Hurdles
Our CRM gives sales reps and managers a clear view of the sales pipeline. When you have a complete picture of the data generated by your sales team, you can see where they excel — and where bottlenecks lie.
Sales managers can see that while a certain employee is great at generating leads, they often fail to turn a lead into a qualified prospect. They can see that the employee’s average win percentage is low compared to his peers. Maybe once he gets past the second or third step of the sales process, he is able to convert, but is constantly tripped up prior to getting there.
Think of our CRM as the best diagnostic tool you can find. A doctor may perform a dozen tests to identify a health issue, analyzing different things and trying to rule out possibilities. Sales managers also need to diagnose problems that are not always self-evident. That is why it is so important to have access to constantly updated data to pinpoint where issues exist.
Cut down on the revolving door in your sales office by focusing on each rep as an individual with different process strengths and weaknesses.
Perspective & Partnership
To err is human. To succeed is AI.
As humans, we often don’t think in terms of data and are poorly suited to identify patterns over time, like artificial intelligence can.
With Base, it’s like having a sales coach who operates on data, not instinct, boosting your sales outcomes and helping your entire team grow.
Best of all? Embracing AI in your sales process is like taking a step into the future. Industries all over the world are being disrupted by AI, allowing humans to boost their natural abilities. Surgeons use AI for more precise incisions and to have more accurate patient data. A report released by the White House in 2016 asserted that human / AI cooperation could drastically improve outcomes, citing a study that found that when pathologists worked with AI to diagnose cancer, they could reduce their error rate by 85%.
The same kind of cooperation is now being used in sales departments with similar results.
Through AI technology, Base delivers prescriptive sales insights, allowing you to verifiably answer questions such as, “If I moved prospects from stage A to stage B 20 percent faster, how much more revenue could we gain?” Generating that kind of insight would be a monumental task for even your best analyst, but it comes easily to our Apollo platform.
We want data to bring out the best in your sales team. Through a data-driven sales process, you have key information each step of the way, enabling you to make smarter decisions and drive your company forward.
If you need help finding a sales platform that will enable you to take a data-driven approach to sales coaching, our CRM Buyer’s Kit is here to help.