The economic downturn means that companies are focusing on leads at the bottom of the funnel at the expense of the top of the funnel. There are significant implications behind this, but here’s what you really need to think about: coaching your SDRs to be their best with the opportunities and leads that they have […]
The economic downturn means that companies are focusing on leads at the bottom of the funnel at the expense of the top of the funnel. There are significant implications behind this, but here’s what you really need to think about: coaching your SDRs to be their best with the opportunities and leads that they have today.
Moving Down the Funnel
Companies have shifted the focus of their sales strategies. They used to prioritize volume, but it’s tough to prove ROI using that strategy. Plus, traditional outbound isn’t working the wonders that it used to.
On the other hand, bosses like a sure thing. There is general consensus in the air that it just makes sense to concentrate on leads that are more primed. Countless companies are currently doubling-down on their sales teams and forgoing some of their previous investments in marketing and advertising. But their approach needs to change to align with the current climate.
Making sales, even near the bottom of the funnel, isn’t like picking up the phone to call an Uber. There are only so many hours in the day and leads in the pipeline, and your team needs to make the most of them. It’s up to managers to coach their teams to succeed.
The Wheat and the Chaff
Step number one to maximize your team’s outbound success rates is figuring out what’s working right now. And that starts with looking at the individual and their performance data.
How do you do this? For example, during your weekly one-on-ones, discuss the techniques which give that person their highest success rates. Then, drill down to figure out ways to improve this method. If it’s cold calling that’s doing well, find out where the hitches are. Of calls that don’t produce sales, when do the leads tend to drop out – before the first 30 seconds, or after the first 30 seconds? Discover if and how that method can be refined to result in more deals, perhaps by working on the call script.
One suggestion here: use data for all your channels, as daily KPIs and related analysis will help to discover the ones that are most productive. Let’s take emails as an example. Look at the open, response, and closure rates. The next day, do some A/B testing with different messaging styles, subject lines, intro texts, and CTAs. Keep playing with it until you see incremental improvements in your numbers.
In short, use performance data to build successful regimens throughout the week and to determine what needs to be done on a daily basis to reach goals.
Don’t forget that your input as a manager always counts, even for your top sellers. Best practices also still count, even if the formula needs to be adjusted to individual SDRs. If your department has a standard email format and process, try to maintain it so as to keep a handle on messaging and procedure.
The 80-20 Rule
Next – deal with the chaff. It’s typical for 80% of a person’s productivity to come from 20% of their efforts, but that doesn’t mean you need to completely change the playbook. Different things work for different reps, like emails, LinkedIn messaging, or social outreach based on an event or similar happening. Devote at least a bit of time to investigate why some of your people don’t seem to get far with traditional channels. You might start by looking at your SDR’s knowledge through questions like:
- What are your target companies?
- How do they make their money?
- Who are the decision-makers?
- Are you multi-threading different decision-makers, or just reaching out to one person?
If you find some flaws in their overall strategy, encourage that SDR to spend some time each day working to improve. It might just happen that your rep can use a “one new thing every day” approach that allows them to make gradual improvements over weeks and months.
Working Behind the Scenes
There’s no question that times are tough. But many managers are living in the moment and succeeding by doing more for their talented people. Improving employee retention initiatives, encouraging focus, and boosting motivation are just some of the steps that promote success for SDRs.
As a manager, you should ensure that your people are taken care of. Talking to HR or the execs is part of it. Becoming a thought leader in your space is also a good move. But one factor which is often overlooked is measurement. If your company doesn’t have a way to accurately assess the productivity of your teams, then make sure they find one. Justifying your sales strategies through cold, hard facts will be all the rage this winter.
Key Takeaways
- The current business climate is leading SDRs to concentrate efforts near the bottom of the funnel
- It’s essential for sales managers to coach their teams in finding outbound methods that suit them individually while still working to improve standard approaches
- Managers should use data to justify their ideas and work behind the scenes to support their people
If you’re looking for some more innovative ways to transform your outbound strategy, join us on November 9th where a panel of world-class sales experts will be discussing innovative strategies to use in this current dynamic climate. Register here.
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