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5 Best Practices for Sales Operations Success [Infographic]

In a recent article in our Sales Operations series, we shared the latest technology trends and performance statistics that every sales ops manager should know. We don’t want to leave you hanging regarding how you can use those trends and insights to improve your sales team’s productivity and close rates.

Based on our research and experience, here’s our list of top best practices for sales operations success.

5 Sales Operations Best Practices

5 Best Practices for Sales Operations Success

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1. Define a Mission Statement

First and foremost, define a clear and concise sales operations mission statement. It’s probably a good idea to add a “how” statement that offers more details.

For example, the sentence “We ensure that sales technology makes it easy to generate accurate quotes” supports the mission statement “Our mission is to use empathy and data to drive sales.” Work with your VP on the final text and then circulate it to the company, so they know exactly what to expect from you and your team, and that you’re aligned with the overall company mission. 

2. Identify KPIs and Sales Metrics

Be sure your team knows which metrics you focus on and why. Two of the most widely-used sales metrics are:

    • Percent To Revenue, which measures how close you are to reaching your goal. Formula: (current revenue/target revenue) x 100
    • Sales Velocity, which indicates how “fast” your sales are. Formula: (number of leads * average deal size * lead conversion rate) / average conversion time

Important KPIs include:

    • Total revenue
      • By product, area, salesperson
      • From existing customers, from new customers
    • Year-to-year growth
    • Cost of selling/revenue
    • Average customer lifetime value (LTV) 
    • Net Promoter Score (NPS)
    • Number of deals lost to competition
    • Percentage of salespeople meeting their target

3. Champion the Right Technology

Choose the software that is best for your team now and as you grow. Talk to your team about what has and hasn’t worked in the past and why. Be sure to test out any tool or platform before recommending or purchasing it. Once you select software, be sure to learn it well before your team does; they will most likely turn to you before they contact support.

4. Collaborate with Other Departments 

In our previous article, we discussed the growing trend and benefits of sales aligning its data with marketing, finance, and legal. Whatever steps you take to collaborate with other departments will improve the company’s bottom line and establish you as a “big picture” person. 

5. Invest in Future Growth

AI has the potential to add $13 trillion to the global economy, with the first to switch over likely to make the most money. As Sales Operations Manager, part of your mandate is to choose the right technology for your company.  

Putting It All Together: The DealHub Advantage

Knowledge isn’t power; applying knowledge is. To succeed as a sales ops manager, you need to have the right tools to make informed decisions based on actionable data, and metrics that reveal at a glance the health of your sales efforts. Crucially, you need software that lets you leverage your company’s knowledge into target-beating sales figures. 

DealHub’s award-winning CPQ solution has everything you need to reach your goals. Winner of 6 G2 Crowd CPQ awards for 2019 including Best Usability, Best Support, and Easiest to Use, DealHub CPQ:

  • Is up and running within a few hours, operating natively from Salesforce, Microsoft Dynamics CRM, and Freshworks CRM
  • Simplifies your quoting process by generating error-free quotes in any format (Web page, link, Excel, Word, PDF)
  • Automatically synchronizes with your CRM so current, accurate information is always available to marketing, finance, and legal
  • Includes guided selling aids (playbooks, scripts, triggers for suggesting upgrades, up-sells and cross-sells)
  • Ensures consistent pricing and discounts while streamlining processes
  • Supports exception pricing as needed
  • Includes built-in document generation, support for e-signatures, forms, dashboards, and analytics 
  • Automates actions with full AI integration planned

Watch the video to learn how DealHub CPQ helps sales operations teams accelerate their sales cycle and close deals faster:

 

The automation and AI race has begun; DealHub is here to help you lead your team to the winner’s circle. Contact us today to see DealHub in action and schedule a free demo.

In The Ultimate Sales Operations 2020 Report, we explore additional trends and insights into the challenges facing sales operations managers today and the technology they are using to rise above those challenges. 

Download your copy today!

best practices for sales operations success

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5 Best Practices for Sales Operations Success [Infographic]

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