One of the most common software benefits is the ability to track data. As a result, the most common software sales pitches are based on how companies can streamline operations and drive more revenue based on that data; goals that should sound familiar to anyone working in sales. That’s why it’s surprising many software sales professionals aren’t tracking key metrics.
Tracking the data below – through your CRM or via a spreadsheet – can improve your operations and give you some concrete data to use when you’re gunning for a promotion or interviewing for your next job.
What percentage of your demos result in closed deals?
If the number is great, you’ve got a skill that you can leverage moving forward in your career. If it’s not, you’ve identified the ultimate low-hanging fruit when it comes to improving your sales process. If you don’t know, it means you’re not fully leveraging one of your most powerful sales tools.
Demos require time, patience and some technical skills, so it’s no surprise sales professionals are not always the best at giving them. However, they’re a critical step along the sales path and improving them can be as simple as talking a little slower.
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Email/Voicemail Return Rate
This metric isn’t unique to software sales but it’s still important. It’s also one of the simplest to track given the tools available to the modern sales professional. Simple tools (likeBananatag and ToutApp) track outbound email and open rates. Calls can be a little more difficult, but it’s worth the effort and there are tools and shortcuts available.
What you should be aiming for is a gradual improvement over time as you refine your voicemails, subject lines and email content. If you’re not seeing that, you’ve either perfected the art of sales or need to review the fundamentals.
You probably know – in general – what questions prospects ask about your product and which features they want to see. However, the specific numbers can be incredibly valuable to your entire organization and for structuring your pitches and demos.
Answer the most common questions early in your pitch, develop strategies for addressing features you may be lacking and pass common requests and points of confusion up the chain to make the product easier to use. All of this makes it more likely for you to close a deal and has much more relevance when backed up by data rather than general impressions.
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