Business
High-Velocity Sales and How to make sense of it in a B2B landscape!
High-velocity sales isn’t a very new concept – Back then, the high-velocity model was mainly applied to freemium/transactional products. Today, high-velocity sales techniques and tools are being increasingly adopted in the B2B market.
High-velocity sales- the term that as the name suggests is a sales technique bought in the market to speed up the sales process and help the sales representatives become more efficient.
In this article, you will learn more about High-velocity sales and how to implement it in your organization.
What are High-velocity sales?
High-velocity sales is an approach designed to speed up the sales process.
According to a study carried out, inside sales representatives spend 32% on an average of their days only selling, and in the rest of the time, they are busy keeping track, reaching or seeking out contacts, planning activities, making notes, etc. In addition to these tasks, they might be using an average of 6 different tools to manage their sales activities.
High-velocity Sales was formed to improve the productivity of inside sales, especially with reps who mostly spend a lot of time making sales calls. The three objectives of HVS are to enable sales reps to be more efficient in:
- Prioritizing Opportunities
- Carrying out sales processes better
- Managing Tasks
High-Velocity Sales as an approach can be applied to any B2B business. The technique helps bring together the broad approach used in B2C sales and implements the same in the B2B sales process. It is likewise turning out to be important for Customer Relationship Management stages as it assists with monitoring and dealing with the sales processes better.
In simpler words, with the help of phone integration, artificial intelligence, and a single pane of glass view, High-velocity sales can help in saving a lot of time by not making sales reps switch between tools.
How to bring High-velocity sales in Practice in a B2B environment?
High-Velocity Sales is a new concept in the B2B industry as it is more familiar in B2C, so, before getting into the process, it’s better to know all the information and best practices to implement when using High-velocity sales. It saves time, money, and lets the focus be on getting more leads and deals.
- Use internet lead generation methods
The most used method to generate leads is through the internet. These methods include online survey forms on the website, key landing pages, organic search strategies, pay-per-click programs, and email marketing campaigns.
Every method has the same end goal, that is to make this lead a qualified prospect and then finally close the deal.
The application of high-velocity sales in the sales process will help the sales team reach the best leads and then convert them quickly with the help of CRM.
- Nurture your leads
The perspective of buyers has changed a lot in recent times. Before engaging themselves in a sale, they tend to look around, research and educate themselves about the product.
With this change in the mindset of the buyers, it has become very = important to nurture a lead because the prospects won’t accept your offer in the first meeting itself. Sales have thus become a long process, and nurturing leads becomes essential.
Nurturing a lead is like taking care of a plant, watering it every day to get fruits as an end result.
Your Leads also needs nurturing. They need consistent attention and expect constant discussions before finally closing the deal.
Lead nurturing is so impactful in the sales process that according to stats, 15-20% of the leads convert into sales even after they are “not ready to buy”.
By implementing a high-velocity sales model in your business you can catch the hints of buying from your prospects to convert into happy and satisfied customers.
- Leveraging a powerful inside sales approach
Buyers keep evolving every day, so should the sales approach.
What does not need to change is the goal which is to keep the prospect committed and then finally turn them into a customer.
Every prospect needs a different approach, so for that, you need to have an excellent understanding of your prospect and how you can practice the approach in making a sale.
The inside sales approach needs to be as strong as the foundation. Try adding value to the product and to the time prospects spends on your brand. Going for a story-based approach will help prospects to understand the product better. It will also aid in showcasing how the product can be beneficial for them. You can also use the before and after story format with your clients as it is influencing decisions.
In a summarized way, use the power of storytelling to get your leads on board. Plunge in your buyer’s minds and make them feel that your product is the best for them.
- Track performance to manage inside sales
High-velocity sales is not a cakewalk.
Being aware of the sales processes and the numbers that define your team’s efforts is necessary. Hence, tracking is essential.
Daily sales reports can help you keep a track of the productivity of the sales team and let you plan for the future strategically.
- Make the product easily accessible to the prospect
Do you ever buy a piece of clothing without trying it on beforehand in the store? No, right?
Then, why would you expect the prospects to buy the product without letting them have a demo? Give your prospects a chance of trying the product by giving them a 14-15 days free trial. Let them see and enjoy the benefits of your product, and then finally let them decide if they want the product or not.
Bottom Line:
Sales is taking a new turn every day, what was in yesterday might not be in today! In such a scenario, you need to take care that the sales team is more focused and productive than ever before.
When you implement high-velocity sales into your sales process, you give your sales team a chance to broaden their horizons, allowing them to speed up the process, convert more customers and churn more revenue through maintaining and planning to nurture leads and by tracking the numbers daily.
You can always use a CRM to make the life of your sales team easy and escalate the revenue growth.
Kylas is one of those CRM that has been built on the same goal of making the life of salespeople easy and escalating the growth of revenue.
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