There is a system to aid you trim down the viability factors in your small business, which is known as Predictable Revenue.
Therefore, without much ado here are 10 ways you can implement the Predictable Revenue system in your small business organization:
1. Get laser focused on generating leads
Finding new customers can be a tough job for all organizations. Hence, you need to focus on creating a system for lead generation for your business.
One of the most time-tested ways to enhance your lead generation process is to adopt new technology for honing your lead generation skills.
For example, using lead generation apps that will allow you to piggyback on the most popular social media platforms’ databases is an effective way for building your lead lists.
What most startup organizations do not understand is that growth in sales only comes from lead growth. Therefore, the more leads you have in your CRM database, the more deals you will close in the long run, and so you always need a steady and predictable flow of leads for your lead gen program.
2. Send more outbound emails for sales
The trite and banal saying “sales is a number game” stands true even today, as more outbound sales emails lead to more revenue. Therefore, scale up your knowledge from online sales performance experts, and work with them to understand how you can increase the lead count for your small business by sending more outbound emails.
3. Send KISSS-able sales emails
Keep It (sales emails) Short, Sweet and Simple.
Try not to write more than 5 sentences and never use industry buzzwords and jargons. Additionally, never communicate with your leads what you do. Rather, let your leads know what they will receive by becoming your customers.
In other words, pitch the benefits of your offerings, not the features of your products and services.
4. Get yourself savvy about sales technologies
There are separate applications in the marketplace for lead generation, email automation, contact management, and many more. Hence, learn more about these specific apps or use an easy to use small business CRM software that can accomplish all these processes from a single window.
As a venture capitalist, Marc Andreessen once quoted: “Software is eating the world.”
5. Create an account management outreach and up-selling schedule
Do you know that the best place for hitting upon new revenue is with your existing customers in the CRM database? Therefore, create an email outreach cadence that includes built-in upselling strategies like, after the deal is closed:
-How long should you wait until you start reaching out for upselling more services and products to your customers?
-What offerings are you specifically try to pitch in your upsell?
-Which email template you will choose in your outbound upselling campaigns?
6. Create a sales metrics dashboard
As a part of the predictable revenue growth for your small business your sales metric dashboard must include:
• The number of sales emails that you must send each week
• The total number of leads generated each week
-This is the number of people you or your team members found fit for your brand’s ideal customer profile.
• The number of inbound leads you received every week
-This is the number of people that contacted your business to find more knowledge about your offerings. These are the people who seem ready to buy from you, but are not the existing customers on your CRM database list.
• The number of wins every week
-This is the number of people that have closed deals.
• Average deal size
-This is the average dollar worth of each win.
• Average sales cycle
-This is the average time taken for closing each deal.
You call track these metrics in your small business CRM software and view them easily in your easy to use CRM platform’s dashboard, or simply track them using an Excel spreadsheet.
7. Implement specialization in sales roles
Sales in any organization primarily consist of 3 defined functions:
Lead Generation: Finding new potential leads.
Deal Closing: Achieving partnership by securing sale with these new leads.
Account Management: Managing the post-sales relationship with the customer.
Now, if you have a large sales team in your organization with multiple sales reps, you should specialize each of their job roles and let them focus wholly in any of the above-stated functions.
However, if you are the only person or you have one single sales rep for doing the selling, you need to specialize yourself or your salesperson in terms of time.
For example, a typical 8 hours of working may look like this as mentioned below:
30 min- Plan out your daily work
1 hour- Send replies to hot emails and tasks
3 hours- Focus on lead generation
2 hours- Focus on closing
1.30 hours- Focus on customer account management
8. Test everything
To generate more revenue and enhance your sales process- you must first have a sales process. Similarly, to perk up your email open rate you must necessarily standardize your outbound email subject lines.
Therefore, develop the basic components of your sales process like creating eye-catching and click-bait subject lines permits you to improve and optimize your process.
Once you select and start using templates for all your processes from emails to phone call-scripts, you can make your sales teams work more efficiently, since these templates will set the standards and baseline of your sales communications, while you use an easy to use CRM software for harvesting more revenue.
9. Always have a preset new business outreach cadence and do follow up:
You need to always keep following up with all your prospective leads until they provide an answer. Even a negative answer stands fine, but a “no response” from any prospect is unacceptable in sales.
This is because a “no response” most likely implies that your sales reps were too reluctant to keep following up.
Therefore, keep following up diligently, till you prospect says “I/We are not interested”, since this is even considered in sales, as a response.
Here is an example that can illustrate the fortnightly outreach cadence for your new leads, which may look something like this:
Day # 1- Send Emails
Day# 3- Send Emails
Day# 4- Send Voicemails
Day#5- Send ‘LinkedIn’, ‘Facebook’ and ‘Twitter’ Connection requests
Day#7- Send Emails
Day# 9- Do Cold Calls
Day#11- Send Emails
Day#13- Reply to ‘LinkedIn’, ‘Facebook’ and ‘Twitter’ mentions
Day#15- Send Emails
An outreach cadence like this one when repeated over the months removes any idyllic guess works for your sales teams. Since with an outreach cadence like this they can:
• Know when to reach out
• Which medium for communication they should use
• What to communicate specifically to their prospective customers
10. Keep learning the art and science that is known as Sales
A sale is both an art and a science that requires multidisciplinary study. Marketing, technology, finance, and human psychology all play their required parts in sales.
Therefore, keep learning more and let us know if you have any additional new revenue hacks for small businesses to grow their sales, in the comments box below.