Stop Losing Prospects & Leads Due to Employee Churn with Calling Software
How Does Churn Impact Leads/Prospects?
Without software, sales agents manage their own leads and prospective customers in their own ways.
If a sales agent quits or gets fired, they will most likely keep lead data to themselves. Leads that have not been reached may be lost and prospects who may have been near the buying stage could never be found as well.
Using a CRM to track leads is a good start but it's not enough because data can easily slip through the cracks, losing you money.
Adopting Sales Force Automation Software
Recently, SFA or sales force automation software has been widely adopted due to lowering costs of solutions.
With new cloud SaaS (software as a service), companies do not have to maintain or even install software on their computers. This means less IT situations (installing, upgrading, errors) and no server fees, resulting in lower IT costs.
Still there are a high number of companies not utilizing software to manage their sales team in 2016, even with free CRM options available.
- Why are so many companies finally deciding to make a change now?
Have you noticed higher employee churn rates lately?
Churn Over the Past 7 Years is a Big Reason
Since 2008 total churn has dropped from 18.7% to 16.7% but you should still worry because rates were once as low as 14.4% in 2011.
That means employee churn has shown a trend in increasing over the past few years and could steadily increase.
Higher churn rates mean companies are losing more employees faster, and if those employees were in sales, there goes their data... sometimes.
Some companies have been adopting software to track customer interactions with their sales team, lowering the amount of data lost from employee churn.
Using a CRM for Prospects
One of the most widely used pieces of sales software for businesses is the CRM.
Customer relationship management software holds information about customers in a centralized location and sometimes even offers added functionality like follow-up reminders.
CRMs are extremely beneficial to have, but they have a few drawbacks:
- Many times the agent must input data into the CRM, which means some data may never make it into the system.
- Many CRMs don't offer a way to connect to data they hold either, allowing interaction tracking to slip through the cracks.
- Lastly, most CRMs do not manage phone calls, which is important when working leads.
Whats the Best Approach to Managing Sales Calls?
Most of the times sales take the form of a phone call, but most CRMs do not connect to your phone system, so what is the best approach to tracking calls?
Call center software offers the ability to track phone interactions, both inbound and outbound. Many times these solutions come with plenty of features and functionality, including a CRM, making it easier to handle a lead from beginning to end.
Even with a system in place to track phone calls and manage prospect data, you can use another CRM solution to manage your most important leads or customers. In many instances call center software offers the ability to push data to your main CRM when needed. So many companies use calling software to track interactions and customer data, then push their most important customers to a company wide CRM for all employees to work with.
How many agents do you have?
Competing with a Smaller Sales Team
If your sales team has less than 10 agents, you are part of the largest group of companies starting to use sales force automation software. Not utilizing today's low cost solutions to manage sales calls is not an option for small to medium sized businesses.
With a smaller team you are competing against over 89% of companies and something as simple as a follow-up call can help you stand out. In fact, prospect management is a key factor to beating out competition in sales because it allows the agent to build rapport.
Less Than 5 Agents
Your team is part of 71% of the companies using sales software. That means you will have the hardest time competing without a system in place. Every follow-up is crucial and leads must close when you are part of the largest group of companies competing.
Between 6 - 10 Agents
Your team is the second largest, part of 18% of companies using sales software to compete in 2016. However, with a larger team comes more data to manage and increased solution costs. Utilizing an affordable system with the right features can optimize this sized sales floor dramatically when competing against such a large group of companies.
Save Rapport with Call Analytics, Recordings and Notes
When dealing with employee churn, you want to save as much rapport as possible. Your agents have built a relationship with prospects you can't afford to lose. Utilizing calling software to manage your sales team allows you to deal with higher churn rates while still maintaining prospects those agents were working on. Call details, recordings and follow-up notifications can be passed over to the next agent following up after and employee leaves.
Using call center software to manage your sales team can help by providing call analytics that give you timelines of your agents interaction with a specific prospect. Some solutions offer recordings with storage, listening through recordings can tell a lot about where a relationship was headed.
If you keep on top of your call agents you can even get them to input notes about every interaction, giving even more details into the sale for the next agent.
Competing Without Call Center Software in 2017
As the year comes to a close, more and more companies will have adopted a system to manage their inbound and outbound sales calls.
Any business not using tracking for their leads in 2017, especially when dealing with phone calls, will notice less acquisitions most likely associated with employee churn but possibly also in part due to competition having better follow-ups.