The Sales Acceleration Formula
When it comes to sales acceleration, it is inevitable to refer to the theory proposed by Mark Roberge, former HubSpot executive and a part of the Harvard Business School faculty.
In short, his book The Sales Acceleration Formula: Using Data, Technology, and Inbound Selling to go from $0 to $100 Million proposes four specialized and proven sales formulas that every sales leader can adapt to improve their sales.
Check out the following brief to evaluate your own organization’s performance on these criteria.
1. The Sales Hiring Formula
Using this formula, you can create an accurate profile of your company's top salesperson so that you can achieve sales recruiting excellence and consistency. Based on this profiling, you can then only hire top sales representatives that will stick with you. It is important to tailor these profile components to fit your unique business goals.
The book advises that, in order to find the best candidates for your company, you should set up an internal recruiting agency and hire based on skills instead of purely resume and experience.
2. The Sales Training Formula
According to the author, it is advisable to train all of your sales reps in a standardized manner. Companies typically employ the shadow training strategy, whereby new employees observe top performers and learn from them. The problem is that what works for one seller might not work for another, and this is also a highly manual and time-consuming process.
Leading conversation intelligence technology, equipped with the right features, can let you create a consistent, on-demand training experience based on real data. Keep reading for more on this in the following section.
3. The Sales Management Formula
Hold all your sellers accountable for compliance with the same sales process and ensure that all of them follow the same guidelines. The term “sales manager” has become obsolete during the last few years, and the term “sales coach” has become more appropriate. Salespeople's performance and sales success are directly proportional to the quantity and quality of coaching they receive from their managers.
In order to provide effective coaching, you need to know your metrics to find ways to improve your salespeople's skills gaps. You can use metrics to determine whether or not a particular area of skill development will have the most significant impact on a salesperson's performance, for example.
Some of the most common metrics can include how many leads developed, how many leads are in the works, how many product demos are complete, and how many new customers enrolled. The best platform can help you automatically focus your coaching on those areas but also detect the most effective wording, gestures, and body language.
4. The Demand Generation Formula
Provide each rep with an equal number of high-quality clients every month. Most people dislike unwelcome calls and unsolicited sales emails. The author calls these intrusive marketing practices "marketing interruption.” Trade shows and advertising are also interrupting marketing practices.
On the other hand, online digital marketing is one of the most effective channels for attracting customers. It involves search engine optimization (SEO), social media engagement, and blogging. Within minutes, your customers can get all the information on the products or services they want on any device. You can get customers to seek out your business proactively using attraction marketing.
Data-Driven Strategies For High-Growth Sales Acceleration
When used effectively, technology can accelerate sales and help salespeople get to know their prospects better, allowing them to deliver more effective pitches and achieve more meaningful connections.
Any organization that measures and interprets data can increase profits by analyzing and understanding the numbers it generates. If you think about it, even the most basic information, such as a potential customer’s behavior on your website, gives you a set of guidelines for the brand. As you multiply this by thousands of possibilities in real-time during sales communication, you will be able to get a better sense of how data can play a role in driving sales.
Technology can help you optimize your team effort and dollars spent on sales by identifying opportunities, simplifying and automating the monitoring of conversations with sales representatives, predicting the likelihood of conversions, and generally increasing ROI.
It isn't mandatory or necessary to speak with data analysts precisely to track real, data-driven sales conversations. With existing premium tools on the market, artificial intelligence will now be able to assess, give feedback, and personalize coaching for agents or the entire team with high levels of detail in a fraction of the time.
The following are five ways to grow your business so that it becomes a leader in data-driven sales.
Develop a data-driven approach to decision-making rather than relying only on your intuition
You can take the guesswork out of making decisions with the help of artificial intelligence. It is not enough just to collect data; an ideal solution will also be able to make use of it and turn the information you extract into concrete decisions or recommendations.
Invest in sales acceleration tools that automate your sales process
Your profits are highly dependent on your ability to work with the right people. Technology and processes operate in the same manner. Today, sales acceleration technologies are so advanced and abundant that figuring out where to start can be challenging.
Fortunately, a few leading companies offer cutting-edge solutions to meet your needs and optimize your sales processes. You can improve and accelerate sales by using data to build more effective communication skills that lead to more meaningful conversations with customers and prospects.
Take advantage of sales acceleration technologies that can grow with your business
Work with technology tools and companies that care about updating their platforms and including the latest in AI, human behavior databases, and other features that will enrich the conversations your representatives have with their clients. Scalable tools are ideal since they can also grow as your business does.
Keep your sales team well-trained
Coaching and training your team on a continual, personalized basis is critical for each team member to contribute to sales acceleration. Only through technology can you complete this accurately, at scale, and with rich, real-time information.
Help your customers throughout the buying cycle by using data insights
You should use all the data you collect through your platform, even the most subtle communication cues that customers give your reps, to personalize their experience based on their needs, wants, and where they are in the buying process. In addition to helping to establish empathy, credibility, and trust, these clues can also help establish authority in the conversation.
In providing key insights and solutions to go from average to successful sales, data can help with decision-making, sales training, and sales-driven coaching.
Why Is Conversational Tech Important in Sales Acceleration?
Sales leaders' obsession with traditional quota-related metrics has made conversations with clients and prospects mechanical and cold. The user did not find a pitch language adapted to them but a rigid script in most cases.
Communication style analysis technology comes to compensate for this lack of personalization and warmth in the selling experience, and the advantage is that it allows customers to continue considering your product for an upgrade or a recommendation.
Conversational intelligence can now rely on more sophisticated and effective services thanks to the rapid advancement in natural language processing (NLP) and other artificial intelligence-based capabilities. Increasingly, customers expect more personalized, human contact when talking to a sales rep, and businesses that embrace conversational platforms enjoy the benefits of accurate metrics, automated coaching and training paths to improve.
A successful business today is built around customer interactions. No matter where your customers are in the buying process, their experience at each touchpoint dictates their buying behavior. Providing customers with convenient access to their offers through video interactions, which are more suitable for them, has become a top priority for brands to offer a seamless experience.
How Can Conversational Intelligence Benefit Sales Acceleration-Focused Managers?
Previously, conversational AI platforms collected a substantial amount of information, including recordings, customer feedback, topics of interest, adverse reactions to products, potential growth areas, FAQs, and others.
These days, advanced conversation intelligence solutions are much more valuable because they can track other critical metrics. With voice-to-text conversion, automatic listening, performance insights, and predictive engines, business leaders can analyze variables and develop strategies with ease. You can get an in-depth analysis of audience sentiment, search terms, key messages, and more in real-time.
Here are some ways this technology can help you improve performance for yourself, your team, and your reps.
It can help you decide who to coach on what, automatically and at scale
In order to get the best results from all your reps, you don’t necessarily need to coach them at the same intensity, pace, or with the same skills and abilities. A one-size-fits-all coaching approach can result in a waste of time and resources.
A cutting-edge platform can help you design personalized, individual paths for top performers down. What’s even better, it can help you pick and choose those soft skills that make your top reps successful over and over, so they are part of your underperforming staff’s learning path.
It can analyze and learn from your top performers' vocabulary
A top-performing sales rep uses a different language, a unique wording style, and says things with more nuance than an average performer. For instance, their speed of speech may be slower, or perhaps it is that they use specific phrases, body or face movements that are particularly effective.
The most comprehensive software solution can record and track these cues during the calls your top performers lead, analyze their actions and the words they use, along with how they say them, and automatically obtain insights to train others.
It lets you have precise, individualized coaching sessions for each sales rep
There is a limit to the number of subjects you can coach at a time, especially if you personalize your coaching strategies. This circumstance happens because behavior change requires time and progress to achieve mastery. The same principle applies when using technology to support the growth of your sales representatives.
The ideal platform will allow you to start small with your staff, focusing on teaching and measuring improvements on only a few critical skills at one time. They will go through the coaching program until they accomplish their specific goals.
It will help you develop coaching programs based on data
A good sales coach can listen to the recording of a sales call and offer suggestions, which will help sales results. The coach needs to provide feedback, but it is subjective and time-consuming, depending on their impressions and experiences. Does this sound familiar?
During this process, there is an incredible amount of personal preference based on what you believe will have the most significant impact on the problem your reps are facing. By utilizing technology, your salespeople will be able to visualize objective criteria for how they will assess the elements of a sales call, what essentials are present versus those that are missing, and contribute to the overall success of the call.
With the right software, this process can become automated, so the subjectivity is out of the way from what actually needs coaching. The focus will be more on what truly has the most significant impact on the business itself.
It can help your team get used to identifying a good call
Every company's definition of what makes a positive sales call is different, and every customer is also unique. Even though what makes a good-quality call can vary for everyone, there are always human interaction clues that can escape the best sales manager’s eye. Artificial intelligence can catch these subtleties and keep track of them.
As a result, your sales reps can learn what a good call looks like. Your technology partner can help you automatically design a list of key performance indicators from the items it detects, has your reps work on them again and again and create training paths and coaching programs around these.
Remember that a good sales call is not always the one that finishes with a closed deal but an interaction that adds to a satisfied, happy, engaged and committed prospect.
It will help your sales representatives sound more natural and confident
Whether or not your company requires the use of a script when conducting sales calls does not matter. These guides are particularly useful for highly complex products, as well as for newer sales representatives who need practice memorizing all the messages.
The essential factor is that your sales representatives do not sound robotic or impersonal when interacting with your customers or prospects with a script. A software program can help them learn skills, body language, and effective communication styles, even when using a scripted pitch - and even if in person or on a virtual call.
With the most complete solution on the market, each representative will be able to identify their weak points and, over time, add strength to their speech. There will be more natural, empathetic, and less rehearsed conversations as a result.
It allows you to make decisions related to your reps’ growth in the organization
There is a common practice in which top-performing salespeople are promoted to management roles. However, the best salespeople are not necessarily the best managers. This outcome is not due to any failure on their part, rather, due to the fact that they do not receive coaching on how to manage and coach their staff members.
It has always been the focus of companies to provide coaching to sales representatives. Still, few companies consider the importance of providing coaching to managers on how to encourage their teams' performance. This area is another one where a conversational intelligence platform can help. Its features can work to improve current and potential leaders’ communication skills and other abilities that can make them more effective managers.
In this short guide, one common theme runs throughout: sales departments have to modernize their operation to accelerate performance. One element of this tech stack can be a conversation intelligence platform that can support many aspects of day-to-day sales leadership work. With high levels of precision and automation, you can ensure real benefits from day one, as long as you know how to choose the right partner.
There’s a Solution to Improve Sales Acceleration
It's clear there are a variety of ways your company can engage in sales acceleration by combining conversation intelligence and AI-based science. Providing these capabilities and more is only possible when your company has access to a robust technology platform. You must do your research well so you can get the best return on investment.
People from all organizations can make better human connections with Quantified's AI technology, helping them accomplish their goals by connecting with the people they want to engage with. The QC Score is a metric developed to provide you with a single, definitive measure of communication effectiveness. Your reps will grow as they compare themselves to peers, industry benchmarks, and aspirational metrics.
With automated feedback, coaching, and measurement capabilities, the platform assesses customer interactions and measures performance based on key behavioral dimensions. It transforms your team into high-performers, delivering enhanced results.
No other Conversation Intelligence provider uses a human-scored database of communication data to build their AI algorithms, trained by actual census audiences. Quantified is a novel approach fueled by behavioral science, big data, and algorithmic approaches to impact and significantly improve human connection. By combining the behavioral and social sciences with human communication, you can identify essential interpersonal improvement factors that will aid in your team goals. Better conversations. Better outcomes. Request a demo today.
Request a Demo
Get started with a tour of our modern communication skills development platform.
See how easy it is to transform your pharma organization by developing your people to be extraordinary communicators.
Complete this form, and we'll contact you with next steps.