July 03
Sales
The constantly changing business world is forcing companies of all sizes and industries to rethink the way they manage their sales operations. But do we even know what stands behind this term? How to improve sales operations and why should companies consider investing in it?
Our two and a-half decades worth of consulting experience tell us that enhancing your sales is definitely not easy, but still very doable – and with this article we’re looking to share that experience. Keep on reading to learn the true sales operations meaning as well as sales operations best practices.
When it comes to the question “What is sales operations?”, the answer is quite straightforward. The term refers to a set of activities and tools that help optimize and unify sales processes across the entire organization. From applying the latest sales operations applications and tools to introducing training programs, reps aim to focus more on converting prospects into sales and driving measurable results.
To grasp the true meaning of sales operations tools and what exact activities define future team success, let’s have a look at the sales operations structure. All the activities can be divided into four key categories, each having its function:
Proper sales operations management provides an array of benefits that help companies drive productivity across teams and enable fast business growth. Here are some of the many sales operations goals and advantages you get when applying a smart strategy to your sales operations process:
The role of information technology in sales operations management is to improve and streamline key processes across organizations and make it easier for teams to engage more clients and drive revenues. From CRM systems aimed to introduce better communication with customers and robust analytics to AI-powered tools for efficient lead management and customer engagement, technology can be applied to all operations that define your business results.
For over 20 years, OMI has been successfully growing its expertise in providing top-notch services in customer resource and sales operations strategy, helping companies leverage the impact of cutting-edge technology on sales management. Our proven tech stack includes an array of tools and applications that drive measurable results and let our clients stay on top of the competition.
Sales enablement vs sales operations isn’t a debate as these two complement each other – sales enablement management can be successfully applied within a company to power sales operations. Its main goals are to boost the efficiency and productivity of sales teams, as well as to improve customer satisfaction rates. Sales enablement activities include everything from staff training to sales content development to make your teams the ambassadors of your products and services.
That’s why, we wouldn’t recommend engaging in a sales operations vs sales enablement debate.
You are unlikely to find an organization that can sell its products and services efficiently without applying modern technologies. In past years, world digitization has completely redefined the way people buy and how businesses sell. With the existing variety of tools such as Salesforce and Microsoft Dynamics, it’s easy to find one that suits your goals and needs best.
Define specific, measurable objectives that align with your overarching goals. For instance, instead of setting a generic goal like “increase sales,” specify targets such as “achieve a 15% growth in monthly recurring revenue” or “acquire 100 new enterprise clients within the next quarter.” Additionally, make sure to establish KPIs that directly reflect progress towards these objectives, such as conversion rates, customer acquisition costs, or average deal size.
Conduct an audit of your sales processes to identify areas for improvement – map out the stages of your sales cycle and analyze the efficiency of each one. When doing so, look for opportunities to automate repetitive tasks, streamline your communication channels, and standardize best practices. For example, implementing a CRM system with workflow automation features can assist lead qualification, simplify pipeline management, and improve collaboration among team members.
Make sure that your team engages with prospects at every stage of the buyer’s journey in a timely and personalized manner. Implement lead scoring criteria based on factors such as demographic information, engagement level, and buying intent to prioritize leads and focus resources on high-potential opportunities. Additionally, make use of strong automation tools, such as email sequencing and lead nurturing workflows, to nurture leads more efficiently and move them through the funnel.
Regularly review your pipeline metrics, such as pipeline velocity, stage conversion rates, and deal aging, to find potential bottlenecks. In the long run, this will help you anticipate different challenges as well as capitalize on new opportunities. And don’t forget to build a good structure for your pipeline forecasting – incorporate historical data, qualitative assessments, and market trends to generate the most accurate revenue projections.
Monitor industry publications, analyst reports, and social media channels to track various market dynamics. Also make sure to regularly conduct SWOT (Strengths, Weaknesses, Opportunities, Threats) analyses to assess your competitive position – and gain insights into competitor pricing, product features, and go-to-market strategies.
Strategy is one of the most important things in sales operations management. It’s almost impossible to grow your business without defining the exact steps for its further development. Enable continuous business analysis and automated reporting to get valuable information on your incomes, spending, and competitors. Use this information to see what challenges your business is facing and what is necessary to solve them.
Educate your teams on the importance and role of sales operations in business. Let them see the value they get when applying the latest technologies. It will help to engage your sales teams in business processes and let them leverage this information for the benefit of your company.
As we’ve mentioned before, sales enablement and sales operations can complement one another to boost sales efficiency. With the constantly increasing market competition, it’s important to create only relevant content for your customers, providing them with the information they need most compellingly and conveniently. Whether you choose to show your expertise through case studies and pitch decks or create unique and engaging content for landing pages, it will help you stand out from the competition.
Data is one of the most important tools we can use to drive business performance and make decisions that will deliver results. Collect and analyze your KPIs and sales metrics to come up with the strategies that lift your business to a new level.
Last but not least sales operations best practices – encourage your team members to seek out new ideas, experiment with innovative approaches, and share best practices. For that, implement regular feedback loops and performance reviews – this will help you gather insights from frontline sales reps, managers, and customers. Also invest in ongoing training and development programs to equip your team with the latest skills, tools, and knowledge needed to excel in their roles.
The constantly changing demand of the business world forces us to rethink the way existing sales models work. That’s why it’s important to create new opportunities for reaching desired goals and let the sales operations management team help your reps to stay productive and focus more on selling your products and services.
If you want to know how to improve sales operations within your organization, reach out to OMI experts today. We will find the best combination of our services to improve your sales cycle on every stage.