5 Sales Strategies to Improve the Win Rate

/ September 2, 2020 | 5 Mins Read

5 Sales Strategies to Improve the Win Rate

Sales strategy is a thoughtful activity that helps businesses in ameliorating their sales. create the best and most effective sales strategies that can support your sales efforts and ease your journey to reach your sales goals quickly.

What if we told you that sales are easy? You study your product carefully, prepare your pitch email, and start reaching out to the prospects. You wouldn’t believe me, and you’d be right! If that would be as simple as described, our pipelines would always be overcrowded, and our bank accounts would constantly be ticking over.   

The truth is that buyers are very demanding and selective, especially during times of a crisis. They only want to work with trusted vendors, and they want to invest in software and services that bring value and make their business more profitable. 

We’ve come up with some of the sales strategies that are not difficult to apply but bring fruitful results. Start with implementing these strategies, and you will see the sales ball rolling at the end of the day. 

1. Generate Customer Interest 

In today’s busy world, where the market is oversaturated, and competition is fierce in almost every segment, you need to provide prospects with a value proposition and a clear insight into how your product can solve their pain. 

Your product, with its features alone, is not interesting for potential buyers. They need to know the results they can achieve while using your product. 

Salespeople and product managers often make the same mistake while thinking of the problem that their potential users may have, and how their product will satisfy that. The reality often is 180 degrees different from how they feel it is. 

The best way to know your buyers is to run a mix of customer development and Jobs-to-be-done interviews. The first one helps you create socio-demographic portraits of the users, while the second one gives you a glimpse into the jobs your potential buyers deal with daily. In turn, you gain an understanding of the challenges they have once they enter their office. 

Here’s the sample of the questions to ask your audience to get to know them better.

Customer Development QuestionsJobs-to-be-done Questions
How old are you?
Where are you working?
What’s your job title?
How many years are you in this field?
What’s your primary area of responsibility?
What KPIs do you have?
What is your goal in {area they are responsible for}?
Did you try any tools to solve this problem? How did you find them?
Can you please name the tools you were using before? 
What did you lack in them?
What were you trying to achieve with these tools?

Having answers to these questions, you’ll get insights on the needs of your target audience that are still unsatisfied, meaning you can adapt your product, if needed, and create customer value. 

2. Implement Sales Automation Tools 

Sales are tough. Especially B2B sales that often involve pricey products and obstacles when reaching out to decision-makers. It’s challenging to manage progress and keep track of KPIs without technology. You can’t miss any follow up with any client, any demo, or any announcement of the offer that you’ve prepared.

The right tools in the hands can make the life of salespeople easier and more yielding. Sales automation tools are a lifebelt for sales teams as they free up time from manual tasks and allow them to focus on the ones that need a human touch. Embrace the power of automation and focus on the thing that you do the best - making money. 

What exactly can you automate with software? 

There are three main areas: prospect management, marketing, and pipeline management. 

With prospect management tools, you enter your targeted audience’s criteria and get a list of the prospects with verified information about them. Overall, automation doesn’t only assist reps in discovering a higher number of leads, but also in finding higher quality ones, too.

After that, powerful automation software helps to reach out to prospects. CRM systems automatically follow clients’ activities, sending them relevant information based on their behavior. They also notify sales reps if any actions need to be taken, helping to both speed up outreach and establish long-lasting relations. 

Marketing automation software manages email campaigns across multiple channels. You only have to create segmented lists of prospects, design content with templates and define triggers based on a set timeline or user actions. Automation tools do the rest for you. 

Pipeline management tools give you a glimpse of the sales process by tracking a lead from their first interaction with your brand to the moment they turn into the paying customer. It breaks down the sales process into stages and makes sure you do not miss any opportunity; it helps to predict cash flows by identifying lead value and probability of conversion. 

Finally, analytics and reporting features help sales reps to define bottlenecks and improve their processes. 

Be sure that with the automation software, you do not miss the human touch. Make your email sequences highly personalized and relevant; your prospects want to see real people behind their emails. Will you get tons of sales with stiff, robotic messaging? Not.  

3. Align your work with the marketing team

Marketing and sales are the driving force for a company's growth and revenue. When both departments work separately, their results can be downgraded; they’re reaching out to different audiences, they convey different values and even other offers. They need to do it from the same page, share common goals, maintain direct communication, and develop aligned messages to obtain a steady stream of relevant leads. 

It’s essential for marketing to dive deeper into sales, sales to be involved in marketing activities, and acquire vast knowledge about their customers. Once they fully understand the buyer persona, they can define its journey, share responsibilities, and assign roles for every interaction with the prospect.  

Only with a joint sales and marketing force can it be possible to create a smooth, nurturing process and produce enablements to move leads closer to that sweet nirvana conversion. 

To strengthen cooperation between sales and marketing, you need to implement a culture of sharing insights, knowledge, cases, success stories, achievements, and thoughts. It’s good practice for marketing teams to attend sales demo calls with clients to better ‘talk the language’ of potential buyers in promo campaigns

Set up weekly meetings with both departments to run through the previous period’s activities, successes, necessary adjustments, and plan future ones to climb closer towards your final goals. 

4. Involve Social Selling 

Nowadays, social media platforms like Linkedin or Twitter are a powerful channel to access potential buyers, build relationships, and generate sales. Customers are more open to trying your products after you previously engaged with them, and your communication was not related to the product you sell.

Establish yourself as an expert and be the first name that pops up in the head of potential buyers when the need for your product arises.

There is lots of research that proves the more connections you have, the higher your win rate is. It’s evident because the more opportunities you create, the more deals you'll close. 

However, extending the list of your connections alone is not enough. Optimize your profile for buyers rather than for employers. Share industry news with expert comments, participate in community discussions, and talk about your experience and challenges; build your professional brand. 

Again, proper technology makes social selling easier. Linkedin Sales Navigator is a powerful tool to build your prospect list, and a CRM system with Linkedin can help with automated outreach.

5. Sell More to Existing Customers

Growth experts have stated that it is five times harder and more costly to acquire new leads than retaining existing ones. So, it’s an excellent strategy to drive sales by upgrading your current customers. How? 

  • Send newsletters with product releases to existing users.
  • Implement in-product notifications with new features. While your email can go unnoticed, product pop-ups get higher visibility.
  • Conduct monthly roundup calls with clients to assess how they use the system, explain product updates to them, and achieve results while using freshly-baked features. 

During turbulent times, you can segment your audience based on how they have been affected by the pandemic. Analyze it and offer additional features for businesses that benefit from the crisis in the long run. Create segmented lists and send automated, personalized email campaigns.

All-in-all, you need to analyze the stage of your sales funnel, where you have the highest churn rate and choose an appropriate strategy accordingly. If you have a drastic drop at the beginning of the funnel, you might need to increase the number of marketing qualified leads. Here, close collaboration with your marketing department is the magic bullet. 

If leads slip away in the middle of the funnel, you need to rethink your lead nurturing process and, most likely, change content for the customer journey’s specific steps. Finally, if you can't close the deal after tons of negotiations, salespeople need to master overcoming objections and bring more context to the table. 

Anna Pozniak is a Marketing Manager at NetHunt CRM. For over six years, Anna has helped tech companies establish scalable, sustainable marketing techniques to drive user acquisition and enhance brand awareness. As a purveyor of floristry, when she’s not got her head buried in PR, you’ll probably find Anna arranging flowers.

Pinterest Marketing: How Video Pins are Changing the Game

Pinterest started as a simple platform for people to...

9 mins read

8 Types Of eCommerce Advertising In 2021

eCommerce advertising has dominated the marketing industry over the...

9 mins read