Most of the time in the sales community we’re focused on making more money. We want better sales strategies that we know will get us more contacts and a better close rate. But if you’re in management, it’s equally important to be smart about the money you have and are spending. We’ve compiled some tricks for you to be smarter about costs, because sometimes cutting wasteful spending is just as profitable as selling more deals.
There are so many electronic solutions available to sales companies today that they can essentially eliminate all their paper costs. Contracts can now be done completely digitally. Lead tracking, appointments, follow-up, and every part of the sales process can be facilitated digitally. All of company communication can happen digitally. Even your advertising can happen digitally (more on this later).
Bottom line, there’s little to no reason for you to spend a lot of money on paper, clipboards, pens, or any of the other associated tools. No matter your scenario, there’s a digital solution that is cheaper, if not completely free.
Gas is expensive, and if all your employees are driving around a lot, they’re burning money. They may not be doing it intentionally– sometimes they’re just uninformed about local roads, shortcuts, or other factors, and that keeps them from finding the shortest route. Sure, all your teams probably have a map app on their phone already, but a feature like SalesRabbit routing means that you can instantly map around your appointments and leads without switching apps and dealing with conflicting data.
We built routing so that your teams could spend less time on the road, more time selling, and eliminate fuel costs. You’ll be surprised how much you save when your teams travel smarter.
Address-based marketing has almost always taken the form of flyers or mailers. And when your sales process deals directly with homeowners, that’s historically been the best way to communicate with them. But direct mail costs add up pretty quickly, and though it performs pretty well as a marketing strategy, there are cheaper (and more effective) ways to reach your customer base.
SalesRabbit Boost is that way. It allows you to get your message into people’s homes in a much more effective way– by advertising on all their web-connected devices: phones, computers, smart TVs, etc. You can also control when and where your ads are shown. So if you’re sending reps out to a neighborhood, you can send ads out before, after, and during their time there. It’s the perfect way to warm a lead, make your presence known, and follow-up with potential clients.
Training costs money. You’re paying leaders to prepare training, and you’re paying reps to attend training. This is obviously not a bad investment, but it starts to get that way when the trainings aren’t well-prepared and the reps get apathetic or feel uninspired.
The trick is, how can you make training consistently effective and know that it’s being effective? Here’s our approach to solving the problem. We built SalesRabbit Learn, a training platform that is pre-populated with a video library of sales training from top sales leaders. It also lets you upload any training materials you’ve already developed, or gives you the tools you need create new materials. It also includes a reporting feature that will let you know how far your employees have progressed through the trainings, so you know if they’re staying engaged. Plus, it’s all mobile, so there’s no need for your teams to travel to meet together for trainings.
Maybe we technically just suggested a new cost to you, but you can see why time wasted on mediocre training is a waste of resources. That makes something like Learn a better version of something you’re already paying for– something that will pay for itself much more quickly.
Optimize Your Time
Salesforce’s latest State of Sales publication reported that the average salesperson spent only 34% of their time actually selling and the other 66% of that time went to meetings and other administrative duties. A lot of that time is sunk into manual processes: entering customer and sales information, generating quotes and proposals, or coordinating with team members. There are a lot of resources out there that can help you reduce or completely eliminate the time and money that you spend on these tasks.
In fact, these are some of the main tasks that we had in mind when we developed SalesRabbit. With our mobile app, you and your reps can enter and share customer information easily in between doors or meetings. You can use digital contracts, sales tools, and custom fields to generate personalized quotes and proposals for your new clients. The messaging tool makes it easy to communicate with your entire team.
We also integrate with a lot of CRMs and other industry-specific softwares that you’re already using, which will save you even more time. You should also check out Zapier, which connects all of your other apps and makes them work together automatically so that you don’t have to bother with it. Imagine creating a lead in SalesRabbit and having it automatically added to a Google Sheet or Salesforce. That’s the power of Zapier.
The time that you are spending on tasks that you don’t need to be doing could be spent selling, managing, and growing. And trust us, there’s a lot more of that time that’s being wasted than you think. But that’s good news, because now you can start using it productively.
No matter what your company’s situation, you should always be looking for ways to do what you’re doing in a cheaper or more cost-effective way. Set a goal. You can start small and determine to cut costs by 3-5%, and then gradually increase that goal until you’re cutting by 20%, 30%, or more. You’ll start to find more and more things that you can cut and before long your organization will be leaner and meaner than it’s ever been.