Sales are vital to the lifeblood of any business and are what drives growth and progress.
However, the concept of sales is broad and dynamic that consists of a lot of elements such as performance indicators, measurement tools, and marketing campaigns, just to name a few.
But there’s one thing that stands out from the rest and is a major element in the concept- sales productivity.
People often confuse sales productivity and deviate from the major idea perhaps due to the numerous mash-up of marketing terminologies.
What is sales productivity
Sales productivity is defined as the ratio of effectiveness (measured in outputs) versus efficiency (measured as inputs). It refers to maximizing sales while minimising resources spent such as time, effort, and cost.
Don’t mistake sales productivity for sales enablement or sales coaching, because these are entirely different, as well as with any sales-related term that is loosely referred to any improvement in sales and are not enough to provide you with the data to help analyse the actual status of your real estate business.
In simple terms, sales productivity will help you measure your business and sales team’s outputs.
Here are ways that you can boost your sales productivity.
Integrate social commerce into your system
It’s not surprising to find a lot of people spending most of their time online on social media, which is an ideal place to also look for your clients.
In recent years, social media has been a very effective channel in capturing leads and with artificial intelligence (AI) integrating into it, it’s not difficult to target and identify your audience. All you need to work on is your content delivery that will engage your target clients to your products and services.
Sponsored content can be greatly effective in giving you exposure to your targeted audience, way better than several traditional marketing campaigns combined.
With scheduled content capabilities, you also get to avoid spamming your audience and be able to organise your content delivery at peak periods and be able to make changes when necessary.
With the right content and delivery strategies on your social media channels, you have a greater chance of reaching out to your audience to enhance your sales productivity.
Leverage on technology
Advancements in technology are rapidly changing and evolving, but all with the same intent- to make things easier and more convenient for everyone.
This is why it is important to consider technology as your best friend in the digital age as it can help you boost your sales productivity.
There are hundreds of productivity tools and resources online – both free and paid- that provide users with the tools to help them get away from mundane and repetitive tasks that eat a lot of their time and effort to focus on their core business functions.
While free tools and resources provide good productivity features, it mostly benefits small businesses with little personnel, additional features for enhanced automation processes can be availed for a fee or a regular subscription.
Larger businesses and companies with more than a hundred personnel headcount can avail of more streamlined automation features and processes for a one-time fee or a premium paid subscription.
Recent studies have shown that around 400 top-level sales professionals rely on an average of 11 varied sales tools such as customer relationship management (CRM) software to maximise their functions and responsibilities.
Tracking and measuring sales metrics
There’s no doubt that you don’t know where you stand in your business if you do not count or measure your sales productivity and performance.
It is important to determine your key performance indicators to know how your business is doing, what the weak points are, and what changes you may need to work on to improve those areas for opportunity.
For your online channels, it is important that track indicators such as your conversion rate, daily average, mean percentage error, just to name a few.
Develop a clear and targeted business process
Not everyone is made from the same mould, which is why it is essential to ensure that you have the right people in the best roles suited for them. The same way goes with your business and sales processes.
Make sure your business plans are properly laid out, with your short, medium, and long-term goals identified and what roles each of your team members play in your organisation.
Each one needs to be aware of their respective roles, responsibilities and goals so they know how they are doing, what they are achieving and what paths they need to take.
Do not be afraid of failures and challenges, because these serve as learning ideas and lessons to help your business become better and stronger.
Always choose quality over quantity
If you find that your team or yourself may have been able to hit their targets, it makes a difference to take advantage of those free time to make good use of that time to find good quality leads.
Don’t just settle filling in the gaps just to keep yourselves busy, rather make it more meaningful and more productive by focusing attention on quality leads to ensure better outcomes.
Be open to communicate
Communication is key to better sales productivity because you make yourself and your team available to your clients. Remember that the real estate business is a high-cost endeavour so people are always cautious of how and where their money is going to.
It makes people more confident and assured that they are in good hands with professionals they know they can count on in times when they need information and other details regarding their potential investments and handlings.