What is a sales lead? A sales lead refers to the information gathered about potential customers. This information can come from a variety of sources, including digital marketing, third parties, trade shows, and more. The data gathered from a sales lead can help you correctly identify who is interested in your product or service, as well as measure how interested they are. With careful analysis, it can help you make better choices in marketing and sales campaigns, converting more impressions into purchases.
Leads are the foundation for increasing sales. After all, you need a pool of potential customers to make those purchases!
In this post, we’ll over more topics aimed at helping you increase sales, like how to maximize sales productivity and the difference between inside and outside sales.
Inside vs Outside Sales
A sale is a sale, right? While any kind of increase in revenue or customers is welcome, not all sales are identical. In fact, the type of sale you make depends on where that sales process happens, either in-person or remotely.
Here’s a brief overview of inside vs outside sales:
Inside sales:These sales occur when a customer makes a purchase over the phone or online, rather than in-person. Heavily reliant on the phone, email, and internet, inside sales focus on turning leads into customers remotely, primarily in B2B as well as some retail environments.
Outside sales:Taking place face-to-face, outside sales are a more personal approach to conducting business. These sales occur when a salesperson meets with a potential client or customer in-person to complete the transaction. Outside sales also emphasize company-to-customer comradery, as salespeople are often required to maintain relationships with existing clients to achieve repeat sales.
How to Increase Online Sales and Sales of a Product
It’s the universal, yet elusive quest in business: increasing sales. Whether you want to increase online sales or in-store sales, there (unfortunately) isn’t a magic answer. However, there are dozens of tactics you can try to boost sales.
Here are five ideas:
Offer discounts: Discounts are a powerful way to increase the sales of your product, online or in-store. Since customers often love nothing more than a dollars-off deal, incentives like this are a great way to get new people to try your product, with little risk.
Leverage social media: The bigger the audience, the better. By using social media networks like Facebook, Instagram, or Twitter, you can get your brand in front of people from all over the world. Experiment with paid advertising to promote special offers as well as organic posts to excite your existing audience.
Reward referrals: Your existing customers already love your product, so use their satisfaction and the power of word of mouth to your advantage. Reward customers who refer their friends to your business with discounts or special gifts. Not only will this get you new sales, but it will also strengthen your relationship with current consumers.
Make the customer a priority: Customer service is vital to earning sales and keeping them. Make sure you are always putting the customer and their needs first (especially in outside sales environments). When you listen to what they have to say and quickly find a solution to their problems, you will build a level of trust that is priceless.
Tell your story: Whether through your product or your brand mission, people want to feel a connection to the business they are buying from. Be authentic in your messaging and tell your story with heart. While this may not always have a direct result in new leads, it will certainly help to create a lasting, meaningful relationship with your audience.
How to Increase Sales Productivity
Thanks to your referral program, discounts, ads, or other activities, you’ve generated a list of sales leads. Now, it’s up to your sales and marketing teams to build relationships with those potential customers.
Depending on your industry and the size of your company, you may have thousands of new sales leads every quarter. The key to following up with each and every one of them? Maintaining and maximizing your productivity.
Here are three ways to increase sales productivity:
Utilize automation: By using automation for things like emails, marketing campaigns, and sales follow-ups, you can eliminate manual, time-consuming processes that end up eating away at valuable selling time.
Align your team: Even though marketing and sales teams tend to be separate departments, make sure both have the same goal. When the entire company understands the mission and what needs to be done to achieve it, you will see better results.
Understand analytics:The only way to improve your sales productivity is to understand how you have performed in the past. On a regular basis, deep dive into your data so that you can understand what is and is not working. From there, you can test new campaigns and adjust your strategy.
If you want to grow your business, you have to invest time, energy, and dollars into generating sales leads. These potential customers will not only give you additional data on who your ideal audience is, but they will also help you better understand who you are as a company and the potential you possess.