The market is overcrowded. Only out-of-the-box strategies can make a company stand out. And the first place to start is by streamlining your revenue machine. Sales development creates a sustainable, effective revenue machine.
Sales development gets quality leads that are easy and ready to convert. Getting quality leads creates high conversion rates positioning your company for high growth.
But, your sales development process must be up to date. It should have many strategies that drive sustainable revenue generation.
Let’s talk about the sales development strategies that can expand your growth.
1. Align Your Sales and Marketing Teams
If your sales and marketing teams are blaming each over performance, the issue may be deeper. The marketing team will castigate sales for not following up on submitted leads. Yet, the sales team will fault the marketing for submitting cold, poor leads.
It is common for the sales and marketing team to grow out-of-sync as a business expands. Aligning sales and marketing improves the efficiency of your lead generation process. It also can drive over 200% in revenue from marketing.
The sales development help align sales and marketing teams for better revenue performance.
2. Embrace Outsourced Sales Development
Another way of improving your brand reach and performance is through outsourcing. An outsourced sales development cuts costs. Also, it infuses experience to drive your revenue generation further.
Picture this: you want to expand in a new market but have zero grasp of the business landscape in the new region. And putting up sales development representatives will attract more overhead costs. It may also be hard to test if you’ll succeed or fail in that market.
Getting quality potential customers is an unpredictable and expensive affair. Not to mention the resources and labor needed to convert them into revenue. An outsourced sales development takes the guesswork out of your lead generation process. It qualifies your leads and optimizes conversion rates. As a result, it will create a dedicated, smooth revenue engine.
The vast experience of outsourced sales development can help drive accurate campaign targeting. You’ll get efficiency and costs gains besides improving your sales volume velocity.
You don’t need to worry about salaries, bonuses, office rents, and the administrative costs of managing an inhouse sales development team.
Alternatively, outsourced sales development can complement your in-house team. They can cover your inhouse team’s weakness to drive performance. For example, your in-house team may be good at closing deals and not quality lead generation. Outsourced sales development can handle your sales lead generation.
3. Leverage Digital Marketing to Increase Number of Touches Per Lead
Most of your customers are online. Digital marketing helps your business connect with them. You’ll need about 8 touches to meet or convert a new prospect. Digital marketing can increase your customer touches. You can refine it at a granular level to target the ideal customers. Hence, it increases the number of touches and conversion rates.
For example, for customers searching on Google, you can target them by SEO and PPC strategies. For customers using email, you can use email marketing campaigns. Social media users on Facebook, Twitter, etc., can be targeted by social media marketing.
But, if you’re running B2B operations, LinkedIn is a goldmine you shouldn’t overlook. LinkedIn drives about 80% of B2B social medial leads. So, it should be part of your B2B leads generation service.
You’ll sell your products to more qualified customers with digital marketing. Thus, resulting in increased revenue for your company. So, digital marketing can increase your sales if you apply the relevant strategies.
4. Streamline Your Sales Process Using Relevant Tech Stack
You should invest in a relevant tech stack to improve sales development efficiency. The sales development process involves several functions that gain from technology.
Technology tools can automate and improve the lead generation processes with high accuracy. Here are other use cases for tech tools in a sales development service;
- An advanced sales lead generation and qualification system for hot quality leads.
- Intelligent CRM to automate customer relations and omnichannel management.
- Accurate segmentation of customers and prospects for better content marketing and personalized communication.
Some of the major software tools that are vital in the sales development process include:
- Tidal Consulting
- LeadGenius etc.
5. Improve Your Lead Response Time
Most customers need prompt feedback. It is even more critical if you’re dealing with a prospect. Keeping the lead response time as low as possible can improve your conversion rate.
The average response time should be 5 minutes. But, some businesses may need an even faster response.
So you should optimize your sales development process for faster lead response time. Strategies like intelligent lead routing and zero-minute emails may drive higher lead conversions. Never keep your leads waiting for long, you’ll be the one losing.
6. Have SDR Replacements on Standby Before They Exit
Most SDRs only stay in the position for less than 1.5 years. It means that your SDR may exit before the next Thanksgiving Day. So you need better SDR retention programs in place or have replacement on standby.
Check your business needs and plan your SDR talents early to avoid SDR exit surprises. Prior SDR talent planning will maintain sales velocity and processes with little interruptions.
7. Create a Transparent Reward System for Your SDRs
A transparent reward system can reduce unnecessary conflicts and SDR churn rates. Besides, it will create a healthy workplace environment for maximum sales performance.
We recommend a weight point approach. It acknowledges SDR’s efforts for every milestone achieved. But, research on what works best for your business to ensure a satisfactory reward system.
Sales development is the foundation of the revenue machine of high-growth companies. It brings the sales and marketing team together.
It produces quality business opportunities to drive growth. But embracing multiple strategies can maximize the impact of your sales development service.
You can reduce the lead response time and plan your SDR talent. Also, you can use outsourced sales development. These strategies may be applicable in most sectors. But, only use what’s suitable for your case.