Why it’s important to increase sales volume?
Increasing sales volume is a top priority of every business sales leader and can be achieved through increasing the reach, productivity, and efficiency of sales operations teams.
One of the most important questions every sales leader faces is how to get a sales organization from point A to point B?
The answer is a lot simpler than you think and involves implementing a digital adoption strategy that enables sellers to fully leverage innovative technologies to increase efficiencies and boost productivity.
A fully-realized digital adoption strategy allows businesses to accelerate lead-to-close times, improve prospecting, and increase overall deal value with a smarter, streamlined digital experience for sellers.
What Is Sales Volume?
Sales volume is the number of products that a business sells over a given period. Sales volumes can indicate the overall health and well-being of a business and help to gauge the effectiveness of overall marketing and sales tactics.
It is important to note that sales volume is not the same as revenue, which is measured by how much money a business generates overall, regardless of sales.
6 Tips On How To Increase Sales Volume
Highlight Customer Benefits
One of the most effective strategies for increasing sales is by emphasizing customer benefits.
This can be achieved effectively by using a customer-centric approach and broadcasting the benefits into the initial sales stages of a product.
Being upfront about customer benefits enables customers to make a more weighted decision based on facts. In this case, digital adoption strategies provide employees with the necessary tools and resources that make them more effective, productive, and goal-driven.
Understand Your Competitors
Businesses with digital maturity are on average 62% more likely than their counterparts to have experienced strong sales growth over the last three years.
Advanced integration of digital technologies builds and enhances the customer experience by enabling consumers to access inventory status, configure specific products, assess delivery times, and track the progress of product delivery.
Comprehend Customers’ Challenges
According to Mckinsey, a customer experience digital transformation can increase company revenue by 20-50%. In today’s digital world, customer expectations and needs are constantly evolving, which can be directly correlated to the innovative customer experiences offered by the world’s leading businesses.
Integrate Sales & Marketing
Businesses need to think beyond the C-suite and invest in developing a forward-thinking, collaborative mindset across the entire value chain.
Information technology (IT), operational technology (OT), sales, and marketing all need to be seamlessly integrated as part of a successful digital adoption curve.
Use Metrics To Identify Areas For Improvement
Successful digital adoption strategies cover the complete sales lifecycle and help businesses measure and identify areas for improvement.
Everything from conversational intelligence, sales cycle length, sales conversion rates, customer retention rates, and lifetime customer value can all be gauged through the adoption of impactful and innovative technological solutions.
Focus On Sales Velocity
Sales velocity is the measurement of the rate at which successful deals move through the shameless pipeline and generate revenue.
In the digital climate, the way businesses approach sales is drastically changing. Central automation solutions that focus on sales encourage businesses to unite sales and marketing teams, which helps to transform data and focus on all-encompassing trend analysis rather than single results.
How Do Effective Digital Adoption Strategies Boost Productivity & Efficiency?
It’s no surprise that going digital is the best way to improve productivity and collaboration. One of the biggest benefits for businesses utilizing digital adoption strategies is ongoing improved efficiency that is both specific and measurable.
In the context of digital adoption, efficiency can be gauged in terms of digitization and automation. Both of these significantly impact every aspect of the sales pipeline and create a more productive workforce that has more time to focus on high-value, high-impact tasks.
The effect of productivity relating to successfully implemented digital adoption strategies spans across employees, customers, and suppliers. The perfect digital culture is a combination of people, technologies, and practices that all work in unison to drive efficiency, optimize sales performance and enhance workplace productivity.
Digital adoption enables businesses to take advantage of digital productivity and work smarter by utilizing innovative digital tools.
Digital productivity also helps businesses produce better results from goods, services, labor, and capital. Digital productivity tools work by encouraging sales managers to prioritize tasks, workloads and align resources based on smart analytics.
The benefits of digital adoption as it specifically relates to sales are vast and include increased productivity and efficiency, more workplace innovation, increased rates of customer satisfaction, and improved employee relationship management (ERM).
Adopting new technologies gives businesses the opportunity to offer something new and dramatically boost revenue streams, all while providing inherent value to customers.
The key to driving successful digital adoption and digital transformation for sales is knowing how to analyze the extent to which your organization is embracing change and adapting any relevant sales technology accordingly to drive said transformation.
Digital adoption has been proven to lead to substantial productivity gains. The implementation of modern, innovative information technology (IT) significantly reduces coordination and communications costs and enables the smooth flow of new product creation and portfolio expansion.
Implementing digital technologies is the best and most cost-effective way of boosting sales performance, on both the front and back end of the sales process.
On the front end, data and analytics can be utilized to draw upon important insights about customers and the entire customer journey.
On the back end, innovative technologies enable businesses to internally boost their sales functions and enable managers to identify top-performing team members.
Utilizing digital tools as part of your overall digital adoption strategy is by far the best way to scale your business quickly and effectively. In addition, virtual channels can be used to reach out to new prospects, provide better education, and essentially offer an effective solution that meets the needs of the sales team and the wider organization.