Businesses collect so much sales data. With so much data, salespeople find it difficult to focus. Often, the result is inconsistent follow-up, longer sales cycles, and missed opportunities.
Managing sales is complex whether you sell B2B or B2C and are a solopreneur, owner with salespeople, or the VP of Sales with a team. How you manage your prospects over its sales cycle impacts your conversion rate. So, how do you do it right?
Prospect Management
The challenge is to manage your prospects, so they convert to customers.
What actions do you take as prospects move through the sales cycle? What is the number of times you interact with your prospects before conversion?
Analyze where prospects drop off and why. Identify the milestones that real prospects reach and apply them to assess prospect quality.
The Solopreneur’s Dilemma
Fred runs a boutique marketing agency. Like many owners, Fred excels at his craft but struggled with sales. His biggest challenges were:
- Juggling multiple client interactions without dropping the ball.
- Maintaining consistent follow-ups during long B2B sales cycles.
- Crafting personalized proposals that resonate with each prospect’s needs.
Fred was overwhelmed, missed crucial follow-ups, and lost prospects to competitors.
Small Team, Big Challenges
Katie, VP of Sales, sells online cosmetics, had 3 inbound salespeople who generated reorders and sold multiple products to the same buyer.
Katie had her hands full as sales were declining and faced several hurdles:
- High cart abandonment rates.
- No system to trigger reorders.
- Limited cross-selling of products.
The team spent countless hours on manual follow-ups, yet sales remained stagnant.
Fred and Katie Were Smart
Fred and Katie wanted to scale their businesses with less hassles and implemented CRMs with robust capabilities:
- Automation to trigger outreach and internal reminders.
- Buyer promotions based on buyer purchasing patterns.
- Proposal templates personalized based on service type.
- Segmented, dynamic mail lists that update every time you add a contact.
- Sales projections based on prospect tracking.
- Automated outreach as prospects move though a sales funnel’s stages.
- Email templates for commonly sent emails.
Fred and Katie used their CRMs to manage outreach and to free them to pursue their highest priorities.
Results Talk
Katie and Fred experienced a critical, common result: More time to spend on their best prospects. Each said, “they were closing more sales with less work.”
What happened to their companies?
- Fred, the solopreneur, now has 2 in sales, converts 40% more prospects, and revenue is up 30%.
- Katie, VP of Sales, now has 5 salespeople, has reduced cart abandonment by 35%, and has doubled revenue by offering promotions on multiple products.
Both businesses streamlined their sales processes using built in CRM benefits.
A CRM’s Superpower
Whether you’re a solopreneur or manage a sales team, CRMs are the difference between struggling to keep up and confidently scaling your business.
CRMs automate repetitive tasks, segment your contacts, and expand outreach, so that you can:
- Deliver a consistent, high-quality experience to every prospect.
- Allocate more sales time to A&B prospects and clients.
- Track prospects so that opportunities are not missed.
- Scale efforts without proportionally increasing workload
A well-implemented CRM isn’t just a luxury—it’s a necessity for those looking to transform their lead management from a source of stress into a driver of success.
