If you want to see impressive growth, don't miss this article on sales acceleration and its components!
What is Sales Acceleration?
Sales acceleration, or “SA” in short, is a process that helps companies grow their business by increasing the number of SQLs. It can be defined as a process that increases the quantity and quality of qualified prospects for your company.
→ Sales Acceleration helps companies grow their business by increasing the number of sales-qualified leads (SQLs).
→ SQLs are qualified leads who have shown an interest in the company’s products and services.
→ Sales Acceleration helps create accurate forecasts for how many customers they will acquire in the future.
→ It also offers insights on which types of prospects need more attention during initial outreach efforts.
How to Calculate Sales Acceleration?
Sales Acceleration = Qualified Leads x Sales Conversion Rate.
Let’s understand the breakup of the formula.
Qualified Sales = Number of potential customers who have shown interest in the company’s products or services.
Sales Conversion Rate = Percentage of qualified leads that result into a successful sale, typically given as a monthly average or yearly close ratio
This formula is applied by companies to project and plan their marketing campaigns, depending on the type of prospects they are trying to attract.
Why Sales Acceleration?
The purpose of sales acceleration is to measure and maximize the return on marketing campaigns.
It is used to help companies make informed decisions about how they invest in their advertising efforts, as well as when it comes to budgeting for staff resources or any other external costs related to running a business.
The metric also helps forecast revenue by providing insight into expected levels of sales over time based on early market research results.
Sales acceleration offers an understanding of whether there is potential for growth through the expansion of the current customer base and prospect pool.
Sales Acceleration Tools
Achieving sales objectives can be tricky. Here is a list of some tools which can help you achieve the targets. If you're not sure where to start or what will work well for your company these are the basics in hand:
Marketing Automation Software and CRM Systems: These both offer the ability to connect marketing efforts with sales activities, providing a unified view on lead nurturing. The automation of repetitive tasks in these systems can save significant time for business owners.
Lead Scoring and Management Tools: When you have leads coming through your website or other channels, it is important to filter them before investing any resources into follow-up contact.
Campaign Tracking Tool: This would provide insight into how well campaigns are performing by measuring what percentage of visitors convert from specific sites after viewing an advertising campaign that was targeted specifically at their interests."
Empowering one's employees with the knowledge of sales acceleration will take them to new levels. It is important for business leaders and entrepreneurs alike, as it enables their team members to understand the functions and implement them in a better way.
Here’s how it can be done:
Sales Training Programs: These training programs can be offered in an online format for convenience, or as a part of onsite training that may include coaching with senior members."
Sales acceleration is about maintaining high contact rates by following up promptly and going beyond expectations when reaching out to potential customers.
Automated Systems for Quoting: This system allows sales personnel to view quotes across all customer types so they are prepared before meeting with prospects."
It might sound complicated at first, but once you know how it works, you'll see just how easy taking advantage of these tools really can be.
Getting used to these technologies will not help businesses increase but also stay relevant and competitive