How much does it really cost to close a sale? Sure, there’s the salesperson, the swagger and relentless pursuit of the deal (which all comes at a price). But there’s also a massive opportunity cost most companies overlook. Currently, sales reps spend a large portion of their time doing everything but selling.
For instance, according to a recent CMO Council study, nearly 40 percent of a rep’s time is spent creating presentations, customizing messaging and preparing pitches. All in all, this squandered time means your closers are only spending about half their time actually closing.
Related: How to Increase Your Revenue Without Growing Your Sales Team
I have always said that the most expensive hour you will pay for during any given work day is a non-sales related hour. Obviously, the more time your reps spend on non-sales activities the less successful the company will be. Here are several ways to keep your salespeople happy and on the hunt:
1. Bring on the automation
Even the most skilled salespeople need the right tools at their fingertips. To save them precious time, you’ll need prospecting tools capable of growing your database with the most targeted leads.
If you don’t already have a marketing-automation system, try looking into one such as Eloqua, Silverpop, Marketo or Pardot. Also consider whether you’ll need a customer-relationship management program as well, and if these tools will be able to integrate and work well together.
