9/29/2016 Interview with Velocify
Let’s Get Real.
In this series, we interview sales tool providers and get real about the problems they’re solving and why you should care (or not).
Nancy: I ask guests to answer the first question using what I call the “You know how…” format. Tell us, what does your solution do?
Josh: You know how your sales team has so many prospects in different stages of the sales cycle that they sometimes don’t know which action to take first? At any given moment, a proposal needs to go out, another prospect needs to be called, an email follow-up needs to be sent, and the phone is still ringing. How do you help a sales rep prioritize and take action on their next step?
At Velocify, we have perfected sales dialing AND emailing in one platform, which gives the entire sales organization the speed, control and information they need to eliminate the chaos. We offer more controls for sales leaders, so they can determine who the best rep is to work an opportunity, what the next action is they should take, and when they should take that next action.
As a result, sales reps can focus more energy on selling and making the most of each interaction, taking the guess work out of what they need to do next.
Nancy: Let’s get real, sales and marketing organizations have a lot of challenges and they have to make choices about which to solve first. Why shouldn’t they continue with things the way they are if they’re getting by? What are the ramifications of not solving the problems you outlined?
Josh: If sales reps only have the time to prioritize and engage with a certain number of leads, they’ll continue to miss revenue opportunities. Inefficiency can also lead to less focus on outbound prospecting, which is critical for companies to generate more pipeline.
For example, say you have five new accounts you want to prospect to on Monday and you are also assigned 10 new inbound accounts. For each of these accounts you want to make 7 touches via email, phone, and social over 14 days. While this may seem reasonable, when you double that number each day, pretty soon you have 100+ activities to juggle daily. And if you manage the full sales cycle from initial contact to close, you have even more activities further down the funnel to juggle.
This leaves sales reps to operate in a state of chaos and sometimes panic, which may lead to burnout. For sales managers, it’s not physically possible to assist each rep with every step, so Velocify is their way of being everywhere at once, helping to prioritize which prospect to service next and what action needs to be taken, while also offering insights into the effectiveness of sales activities to help sales leaders continue to optimize the sales process.
Nancy: What types of questions should sales leaders ask to decide whether solving this problem should be a high priority?
Josh: Sellers should be asking: What is my sales team’s time worth? Are there ways my processes could be streamlined to drive more conversions? Is there more I can do to empower my sales team? To drill into these issues here are four questions I typically ask to help sales leader’s better self-asses the priority of their problem.
Do you have a defined sales process that your reps are aware of and follow?
You can’t always be right next to every sales rep at every point in the day to ensure they are making their calls, sending their emails, and spending the right amount of time on each activity. We find that only a handful of companies have a well-defined process and even fewer enforce that process. Yet companies that implement a guided selling process that is strictly enforced see a reduction in sales cycle length, greater deal sizes, and higher overall company revenue.
Do your sales people give up to early?
This goes back to our research that shows that one third of leads are never called more than once. So that means if I call prospect and hear a voicemail, I’m basically taking a red magic marker and crossing off that lead.
Do your salespeople know when it’s time to move on?
There is the law of diminishing returns where at a certain point, you become annoying to your buyer — you want to avoid being that guy who is leaving 10 to 20 voice messages in a month. According to the Ultimate Contact Strategy for B2B Sales the optimal number of calls to make before putting a lead into a nurture campaign is six attempts. After the seventh contact attempt it is wise to let an automated email nurturing campaign take over so you can move onto more promising leads.
How much time do your salespeople actually spend selling?
Even the best sales professional can’t handle 100+ accounts that are moving in different stages of the buying time frame. Even if you are able to map your complete sales process, at some point you’re going to need a tool to help prioritize such a growing list of to-do’s. And that’s what we’re trying to promote when using Velocify. By utilizing a tool that makes them more productive with their day, it will ultimately take away the guess work out of what they are doing, so they can focus on closing more deals.
Nancy: This question is your choice. What do you want to answer that I didn’t ask?
Josh: I’d want you to ask: Why is investing in sales success so important for businesses? I’d answer: Sales is the linchpin of success for every organization, no matter how good the product, marketing, or management at a company is. At the end of the day, if sales can’t thrive, the business will die. An investment in sales success is equivalent to an investment in company success.
Nancy: What should people do next?
Josh: Take a look for yourself and let us help you reach your full potential at www.velocify.com.
Going to Dreamforce? You can find Velocify at the Dreamforce Cloud Expo at booth #1829.