Test & Measure Selling (Marketing Can’t Have All the Fun)
Today, we’re going to look at test and measure selling. This is a fairly new idea, that takes root in marketing terminology- but we’re going to use it in sales.
To start with, you need to understand what test and measure marketing is (so that you can use it in selling techniques instead). It is generally an accepted wisdom amongst marketers that a 'test and measure' approach towards different marketing channels is the smartest way to achieve optimal marketing efficiency. Marketers need to identify the right 'marketing mix', quickly, if their product or service is going to succeed in today's highly competitive market.
The test and measure ideology is not only reserved for marketing. Startups everywhere began to accept the test and measure maxim as far back as 2011, when the seminal startup bible from Eric Ries, 'The Lean Startup', was published. In it, Ries advocated a scientific (read: test and measure) approach towards product development designed to find product-market fit as quickly as possible.
The philosophy comes from science, where scientists have a hypothesis, which they document, then devise a test, run the test, and document the results.
So if you believe in atoms, why has sales, the lifeblood of business, not been considered for a test and measure approach?
Conducting a cursory search on Google for 'Test and Measure Sales' provides me with a bunch of 'Test Measurement' jobs and one obscure scholarly article on the topic, whereas 'Test and Measure Marketing' provides me with all sorts of articles about marketing: AB tests, ROI and multi channel attribution.
Sellcrowd is here to change that.
We believe that companies everywhere are missing out on thousands upon thousands of sales opportunities, simply because they are not addressing the multitude of sales opportunities out there. And the sales opportunities really are everywhere - companies just need to ‘test and measure’ more.
Here’s some of the top ways you can test and measure sales in your business.
Test New Salespeople
Companies currently invest a huge amount of soft time interviewing new sales hires, not to mention hard costs in the form of recruitment fees. Why not trial sales reps? You could save time on interviews, and trials can reveal the hidden gems your recruitment process might overlook when applicants dont have the marquee names on their resume.
Test New Target Industries
Are you overlooking potentially more lucrative target industries? If you’ve been stuck targeting on industry for years, it might be time to branch out and try something new. After all, you don’t know what might be out there. Using a test and measure approach to look at different potential industries and filter out the ones that don’t suit your business, is a great way to broaden your horrizons without breaking the bank.
Test New Geographies
Maybe the market for your product is less competitive in Belgium? Maybe it’s less competitive in Texas, or another state where you’re not physically based (but your competitors aren’t based either). Take a look at the different potential geographical locations. Don’t be afraid to consider moving your business abroad and targeting alternative countries, if it works for you. Take your time and review different potential options that you can use to grow and further your business. By not ruling out places with more physical distance, you can make a huge difference to your success, profit and bottom line.
Test a New Sales Script
Conversion isn’t just for marketing specialists. How many of your hard-earned leads are becoming customers? Are you converting well, or… does it need work?
Aim to consistently increase your sales ratio (even if it’s just by a little bit!) Consider price, selling technique and engagement. Do you customers feel like they’re talking to a real person? Do you need to switch from a stock-standard email sequence, to a real person at the end of a phone?
Take a good hard look at your conversion rates and what you need to change!
Now, I know that we said you need to review your strategy every two weeks, but we’re going to throw an exception into the mix. The first time you overhaul your strategy, give it at least 1 month, to see what works and what doesn’t. This big boost in analyzable data will make a pretty big difference when it comes to long-term success.
Test and Measure is a technique that every person in sales should use, especially if you’re running a business and relying on those sales to turn a profit!
Make sure that you remember to track your results, your leads, your sales and how much you’re spending to get these sales. After all, while this technique is popular in marketing, there’s no reason that it can’t be transferred to sales!
If you need a good sales team to help you land those sales, test your strategy and build your business, then Sellcrowd has you covered. Check out our lead qualifying services or post a job on our boards so get access to some of the best salespeople- globally!