Increase sales productivity in B2B Life Science Industry

 

In a B2B company, sales are what make the machine keep going. The more deals the sales team closes, the better off the company will be. But, there are usually productivity mistakes that sales team commit. In this article, we will show you how to increase sales productivity and the benefits of doing so.


Before we start speaking about each topic, here is the list of them for reference:


  1. Generate higher quality leads
  2. Automate your sales process
  3. Invest in adequate tools
  4. Measure and analyse metrics
  5. Institute a lead scoring system

 

 

Please, keep in mind that this article is about the sales process in general in life science industry, and not about individual salespeople’s productivity.

 

The benefits of increasing sales productivity in Life Science

 

1. Spend less on salary


You will not need more salespeople because you have more steps automated and/or more productive people.

 

2. Scale faster


When you have a more efficient automated sales process, you are able to scale your sales team with more productive staff.


3. Get better ROI


When your salespeople are more productive, then they will make you more money per hour for your company.


4. Get happier employees


Employees that get sales goals are happier.


 

Now that we know the benefits of increasing your sales team’s productivity, let’s discuss the methods to do so.

 

 

How to increase productivity in B2B Life Science

 

 

 

 

1. Generate higher quality leads


Generate higher quality leads by segmenting your market, creating an ideal customer profile, and curating quality data on contacts.


Why you should do it How to do it
With higher quality leads, the open and reply rates will increase

Segment your market and create an ideal customer profile.

  • Create a company level profile (e.g.: company size, industry) and decision-maker level profile (e.g.: seniority, gender, department) of your ideal customer
  • Separate prospects into different campaigns and personalize the outreach messages

 

 

 

2. Automate your sales process


Certain parts of the sales process can be automated to save time and allocate it elsewhere. Those include prospecting, outreach, and parts of objection handling.

 

Why you should do it How to do it
The time saved on repetitive automatable tasks can be used in human-related tasks instead
  • Prospecting and list building may change between different customer profiles. But will remain repetitive within customer profiles. So, either of those steps should be automated.

 

  • Reaching out to prospects can be automated after the creation of the message. Through automation technology, you are able to send numerous campaigns. And each message can be personalized with dynamic placeholders using the data from prospecting.

 

  • Objection handling cannot be fully automated since it requires contextual knowledge of the prospect’s reply. However, after understanding the context, it can be made efficient through the use of pre-written responses.

 


 

3. Invest in adequate tools


Adopt new technologies that can improve the efficiency of the steps in the sales funnel, from demo scheduling to phone dialing, to contract creation.

 

Why you should do it How to do it

 

The tools will not only save time for your salespeople and account managers, but they will also make their jobs easier.


 Analyze every step of your sales funnel and discover where a tool could fit in to help your sales team’s efficiency. It could be in the prospecting, outreach or closing steps.

 

 

4. Measure and analyses metrics


You always have to measure all your actions to see if you are doing it well or not. Measure your most important metrics such as open, reply, positive reply, and bounce rates.

 

Why you should do it How to do it

Because:

  • you can prove the effectiveness of your cold outreach
  • you can analyze what works and adjust accordingly
  • you can predict the path to the periodical goals

All of those reasons increase the productivity of your sales team.

 Find a tool that tracks and deliver the data in an easily way.


 

5. Lead scoring system

 

Establish a scoring framework for sales teams to determine the value of leads based on their interest in your product.

 

Why you should do it How to do it
You keep your leads organized and deliver the right message at the right time to prospects, and you are able to prioritize the leads that are most ready to be sold to.

 

The first step is to include a CRM in your tools system. That will help you organize your leads and insert them into a sales funnel.

 

Next, decide on the possible stages of the sales funnel, from the point of established conversation, up until a deal is done. Classify each lead with those tags to prioritize leads.

 

 

Conclusion


Increasing the productivity of your salespeople is paramount to have a scalable and happy sales team.


 

 


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