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Different Challenges of Sales Process that Cause Lead Leakage

Today, both customer-oriented teams and field workers have to convert sales leads remotely. Facilitating this can be difficult for a variety of reasons.

For many people, a sales leak is immediately related to a potential loss of sales for any reason. Most companies only consider an obvious sales leak to be the loss or non-winning of a bid, the failure of a bid, or the failure of a transaction. These points can have a devastating effect on top-level revenue if not properly addressed and sales management spends time and energy to minimize this loss ratio.

Leakage can range from declining sales productivity, misaligned business processes, job mismatches, staff hidden behind misunderstood capacity layers, marketing costs without expected ROI, unanswered sales leads, poor alignment of sales territory, and poor sales documentation. does not support the completion of the sales process. Separately, none of these points were considered a problem. The list can be exhaustive and once you start putting them all together, you can lose cutting edge revenue, plus corrosion.

In this post, we look at the three main challenges that sales teams face and explore their solutions.

Delay in first contact: 

In the first hour, the sales representative is 450 times more likely to receive a response from the customer than even in the second hour! In fact, industry experts say it breaks down in 4-8 hours.

However, today it takes an employee about 2-3 days to make the first contact with a wire. This is mainly due to delays in seeing the sales leads assigned to them, the inability to prioritize effectively, the lack of infrastructure to call immediately, and so on.

A cloud phone can solve this problem. If a sales lead is assigned to an employee, be it Salesforce or another similar CRM tool, the agent only needs to click to call directly from the CRM screen to talk to the customer. The call is securely connected to the client via the API without the agent even seeing the client's personal information.

With Sarv, you can also dial virtual numbers that are similar to local contacts, ensuring better reception rates.

Failure in following up after first contact: 

Even if the sales representative makes contact within the first hour, it can take up to 6 calls to convert into a sales lead. 78% of sales representatives quit after the third call. This is one of the main reasons why less profitable transactions are diverted.

Cloud phone services can help make follow-up more efficient.
 

  • Organizations can use voice recordings and analytical data to understand the best time for follow-up.
  • This information can be used to set up sales alerts for sales representatives and take timely action.
  • You can also configure notifications based on SLA-linked rules triggered by TAT violations.

All this can be achieved by integrating it with your CRM. With timely reminders and automated follow-up, sales representatives should not have to worry about the risk of losing a potential customer due to a lack of contact.

Low conversion rates

Despite providing equal access, training and resources for all, some salespeople perform better than others. While this is natural and companies are investing in various training and development programs to close this performance gap, it also largely carries lead conversions.

How can you fix it?

You have identified the problem, you can understand the cause. Now you need to fix it. Here are some ideas to help you deal with a leaking funnel.

Address the scale of the problem

If you have multiple locations or teams, start with whether the problem is specific or general. If the problem is isolated for one group of people or one representative, you should work with those people to help improve their performance. If this is more common, you need to look at the rest of your sales and marketing activities.

Review your value bid

As mentioned earlier, your value proposition is an integral part of your entire lead generation process. It is important to review this from time to time to see if it still meets your customer's needs. Learn how to review your value proposition.

Cloud phone services can help reduce performance.

Managers and supervisors can use the data and records of top performers to train low-performing employees.
They can motivate employees with driver control panels about the number of calls, the number of attempts, the response time to the wires, the number of connected calls, the number of converted wires, and so on.

Voice recordings can also be used to identify techniques that work throughout the organization and implement them.

Convert better with a cloud phone

Even as the world develops, the benefits of working from home and working everywhere cannot be ignored. In addition to flexibility, it also offers many opportunities. With cloud phone services, companies can convert their sales leads faster, better and more efficiently without compromising on security and privacy.

Talk to our experts to find out how your business can use the cloud. Make a call today.
 

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