As a sales professional, it’s normal to feel challenged to hit quota, let alone exceed it. To solve this common challenge, sales managers have started to place an extra emphasis on hitting quota faster by means of high velocity sales.
But, as you know, the insane number of variables and non-selling activities in your sales process makes it nearly impossible to start improving sales velocity.
However, you can now follow five easy steps to quickly enable high velocity sales without breaking your pipeline.
One easy tactic for accelerating sales is to focus on delivering more consultative value-add to the customer experience. Customers love buying from people they like and trust.
Let’s first define what high velocity sales is, and then we’ll talk about five smart ways to speed up sales.
What is High Velocity Sales?
You and I both know that velocity is defined as the speed at which something moves. If you’re driving a car, you move along at a limited velocity. But if you’re in a race car, you move along at a high velocity. But what about the velocity of sales?
High Velocity Sales is the approach to selling that progressively accelerates the sales process to generate maximum results.
It’s progressive because you don’t want to go from zero to 100mph in mere seconds. Like a race car engine, every stage of your sales process has to be fine tuned over and over again. From prospecting all the way to nurturing, there’s always room for improvement.
Improvements in sales productivity and efficiency are usually the starting point for any high velocity sales program. CRM adoption and doubling selling time are the most popular starting points for our clients.
If you’re looking for a helpful roadmap for implementing high velocity sales, look no further than the list below.
How to Enable High Velocity Sales in 3 Easy Steps
- Spend More Time on Revenue-Generating Activities
- Reach Ready-Now Buyers with Lead Prioritization
- Get Real-time Actionable Buyer Signals
Step 1. Spend More Time on Revenue-Generating Activities
Salespeople spending most of their time selling seems obvious, doesn’t it?
But you’d be surprised to learn that most sales pros spend around 1,000 hours EVERY year NOT selling.
Nothing slows down the sales process more than non-selling activity. Not only are the activities redundant, they’re a drain on salespeople’s morale.
Here are some examples of non-selling activity:
- Data entry: entering lead/contact information into your CRM
- Admin tasks: sending calendar reminders, filling out paperwork
- Manual prioritization: ranking who to email or call, shuffling projects.
Here are some examples of selling activity:
- Consulting: meeting customers in person or virtually
- Prospecting: finding new ICPs, reaching out to new contacts
- Discovery: performing research to discover upsell/cross-sell opportunities
Which of the above lists do you think has the best chance of driving more revenue, faster?
You’re right, the selling activities.
Now if most sales teams, including those of your competitors, are spending over 60% of their time not selling, how much of a competitive advantage would it be for your team to spend over 90% of their time selling?
Not only would you generate more revenue than your competitors, but your sales team would have much higher morale and job satisfaction. It’s a win win!
Your first high velocity sales goal for 2023: Raise your sales team’s selling activity to non-selling activity ratio to at least 80:20.
What do I need to do next?
- Learn more about Salesforce Automation
- Demo 3 to 5 Salesforce Automation products (use this guide)
- Start using Salesforce Automation
How much faster will you sell? You’ll increase selling activity by 100% or more. Most sales teams will eliminate anywhere from 750 to over 1,200 hours of time spent on data entry, admin tasks, and other non revenue generating tasks. Sales reps will thank you for this as it will keep them doing what they love to do best–sell!
Step 2. Reach Ready-Now Buyers with Lead Prioritization
Manually ranking and sorting leads to call and email is another non-selling activity where your sales team wastes its time.
We’re not saying your salespeople don’t know what they’re doing. But consider that they spend around 150 hours every year shuffling and sorting leads.
Here are some of the unproductive ways salespeople prioritize their leads:
- Intuition: they use their gut instinct to guide their decisions
- Geography: they’ll sort their outreach based on city or state
- Company Size: hoping to land a whale, outreach is sorted by employees or revenue
Here is the ONE productive way salespeople should use to prioritize leads:
- Data Driven Insights: outreach is based on a buyer’s likeness to buy or engage
There are dozens of lead prioritization solutions out there that track the history and activities of your contacts and accounts 24-7. This data is constantly processed through algorithms to generate outreach cadences.
How much faster would your sales team sell if they predictably reached leads and contacts WHEN they wanted to engage?
And how would that benefit the customer experience?
If you’re looking to reduce your sales team’s time to engagement by over 50%, this is a critical step in your path to high velocity sales.
Your second high velocity sales goal for 2023: Reduce your sales team’s time to engagement by 25%.
What do I need to do next?
- Learn more about automating Lead Prioritization
- Demo 3 to 5 Lead Prioritization products (Salesforce AppExchange)
- Start using Lead Prioritization
How much faster will you sell? You’ll eventually reduce your time to engagement by upwards of 70%, as many of our clients have already experienced. This will not only have a dramatically positive impact on your customers, but your sales reps will be happier, too!
Step 3. Get Real-time Actionable Buyer Signals
Lead prioritization is a must have for high velocity sales. But what if you could also receive instant notifications when your hottest lead is reading your last email… on their phone?
You’d immediately call them. They’d likely pick up the phone. And you’d start a conversation around the talking points found in that specific email.
Talk about high velocity sales! Your lead would wonder if you have a crystal ball.
Buyer signals are not your average open or click rates. They’re smart notifications paired with actionable sales insights.
Here are some examples of buyer signals sent to sales pros:
- Engagement: opening emails and clicking links
- Forwarding: forwarding emails and attachments across the account
- Social Intelligence: similar talking points in social media posts
Rushing to engage with a lead that is active in their inbox is one thing. But rushing to engage with an account of contacts that are constantly forwarding your emails and content is the ideal set of buyer signals.
Buyers who send off these signals are also more likely to have questions for your sales team, and they’re more likely to schedule a meeting.
Your third high velocity sales goal for 2023: Pair buyer signals with lead prioritization to further reduce time to engagement by over 30%.
What do I need to do next?
- Learn more about Buyer Signals
- Demo 3 to 5 Buyer Signal products (Salesforce AppExchange)
- Start using Buyer Signals
How much faster will you sell? You’ll not only reduce your time to engagement, but you’ll double or triple your close rates when pairing buyer signals with lead prioritization. This is why most of our clients experience a 200% increase in funnel size, sales, and revenue after the first two months.
Final Thoughts on High Velocity Sales
In this post, I’ve only included three steps that are free and require turnkey technology solutions. Of course, if you prefer a high velocity sales demo before you start your program, be sure to request time with our revenue team today!