The modern seller already faces enough challenges. From technology and process to just getting deals across the line, their time is limited and their ability to efficiently close business is falling. That’s why sellers working in “high burden organizations” face a “12% lower conversion rate” than their industry peers.
To relieve the burden on their sellers, organizations need to look to the right sales technologies to streamline and automate the entire selling process. The right technology for your team can reinforce your existing process, speed up time to close and reduce time to sign and buy. The result? Winning back the 20% of deals stalled or lost just because of internal complexity.
Reinforce Your Sales Process
From stage one to close, details can get lost or slow down sellers. The more complex your sales process, the more likely it is that sellers struggle to stay compliant and meet milestones. Sellers feel the pain – according to CEB, “62% of perceived seller burden” comes just from complex internal process and confusion.
With the right sales technology, you can reinforce your sales process through consistency and monitoring. Instead of spending time on document management or generating proposals, sellers can manage their time to spend more of it with prospects. Technology with built-in monitoring and notifications can also let sellers and managers know exactly when to engage. The result is consistency and predictability across major selling stages and a process that sellers can actually follow.
Speed Up the Selling Cycle
Today’s seller is leveraging 8.5 tools and technologies on average to close a deal. Even without normal delays and distractions in the sales process, effective sellers can misuse a tool or forget a step and slow down time to close.
To avoid delay, sellers need fast access to personalized sales collateral and tools to manage delivery and signing. Instead of requiring sellers to track views and manual check-ins to see if prospects have opened a document, the right tools can notify sellers only when they need to get involved. This puts information in the hands of prospects faster, and more time back on the calendar for managing other deals.
Cut Time to Sign
With the average buying process now demanding 6.8 stakeholders, documentation and paperwork can get lost in the shuffle. Getting the right collateral and contracting to stakeholders is critical to moving deals along, but managing this process can take time from your sellers and delay time to close.
The most efficient technology for sellers automatically manages delivery to stakeholders and includes reminders to drive engagement and views. It integrates with CRM and signing technologies to streamline next steps and signatures. It also allows managers to view the entire team’s performance stage to stage to find areas of friction or best practices to improve conversion.
How to Put These Tactics into Action
If you’re planning to attend the 2018 AA-ISP Leadership Summit in Chicago, you can hear firsthand about how the burdens of the modern salesperson can impact sales productivity. Octiv CEO David Kerr’s breakout session will address these challenges, as well as actionable items attendees can implement to revolutionize their organization’s workflows to accelerate deal velocity.
Not attending the conference? Don’t sweat! You can learn how Octiv solves contract and document management for your sellers, reducing seller burden and time to close.