The efforts of sales agentns drive revenue. The bottom line is that sales is a numbers game. The more prospects salespeople present to, the higher their results. But skill and confidence matters as much or more than activity. The better salespeople are at presenting the product benefits, overcoming objections, and asking for the order, the higher the percentage of prospects they close. As a sales agent, it is crucial to identify where in the sales process you are having success, and where in the process you need improvement. Using sales action metrics gives you a detailed look at your performance.
Every business has certain key actions that must be performed in order to close a sale. Each action can be tracked in sales action metrics. For example, in the business loan alternative business, responding to customer inquiries is one important action that results in the opportunity to qualify the prospect based on their business revenue. Qualifying the prospect results in the opportunity to present a proposal, and presenting a proposal results in the opportunity to close a deal.
These sales actions can each be tracked. The number of inquiries that result in further action show if you are responding to leads quickly enough. If you consistently receive a reply from prospects that they no longer need the service, then you are too slow. A competitor has beat you to the punch.
Tracking how many prospects qualify for a business loan alternative option offered by your company shows if the leads are high quality. If no prospects qualify for your service, something needs to be done quickly to get leads to prospects that do! Knowing this percentage is crucial to confirming that you are fishing in the right stream.
The number of proposals written must always be tracked. It is important to compare the number of qualified prospects that receive a proposal. Too many qualified prospects refusing to consider a proposal indicates they are not sold on the service, or they feel no sense of urgency. It indicates that they need to be sold on the benefits of taking a merchant cash advance from your company.
The number of proposals that result in sales is, of course, the holy grail. In the business lending alternative business, when this number is high, it means that you have found qualified prospects, they are sold on their need to take a merchant cash advance from you, and that your proposal is price competitive.
This linear group of metrics creates a sales funnel. The number of customers in the funnel decreases as the sales process advances. Assessing where substantial drop offs occur shows where improvement can be achieved. When looking at the sales funnel, it is crucial to track follow-up efforts throughout the process. How quickly are leads being responded to? How quickly are proposals being generated? How quickly are prospects signing off on proposals? Tracking the time periods between each action in the funnel shows where follow-up efforts can be increased in order to drive more sales.
If you are looking for a top-notch sales opportunity in the business loan alternative lending industry, Everest Business Funding offers incredible opportunities to sell competitive products to solid prospects. Using these sales metrics, you will make big income gains.