In many industries, a salesperson’s average success rate in closing a new business deal is about 3%. That’s a lot of prospects saying no or not returning emails, phone calls or Zoom meeting requests.
Some organization leaders believe a company’s values and the way it treats employees directly influences – and can increase – that sales success rate. However, corporate culture is often overlooked when it comes to sales training. Communicating and reiterating these values help ensure collective focus, alignment and accountability – the qualities that create a high-performing sales team.
When leaders cultivate culture by demonstrating and promoting company values, they foster a respectful and positive work atmosphere. When that happens, sales reps are much more likely to thrive. In fact, research published by the Harvard Business Review found that an organization’s morale can impact individual sales success. More than 50% of high-performing salespeople rated their company’s morale as being higher than most other sales organizations. In comparison, just 37% of underperforming salespeople rated their organization as having better morale than most.
Company culture and the culture of your sales organization, or your team’s perception of it, influences how much you sell, your productivity, employee retention and, ultimately, your revenue.
In my role leading global contact center sales and sales operations at Infinite Electronics, we are constantly evaluating our culture. As a result of that process, we have identified three strategies that can drive sales growth, improve employee engagement and deliver financial results for stakeholders:
Focus On Retention
It’s no secret that finding and keeping top talent is key to an organization’s growth. When it comes to retaining talent, a healthy working environment is one of the most important factors in retaining high-producing sales reps.
While there are signs the Great Resignation has ended, the cold hard truth is that employee turnover is still high. Job quitting is especially painful in sales, where it takes the average business development rep 3.2 months from the date of hire to reach full productivity – and that excludes the time it takes to identify and hire a new team member.
Every business has a competitor, but one thing your competition does not have is your people. Both your business and your employees win when the company’s culture is aligned with the goals and values of your sales team members.
Foster a Team Approach to Growing Sales
Basketball legend Michael Jordan famously said, “Talent wins games, but teamwork and intelligence wins championships.” A few talented individuals can keep your business moving forward, but a smart, engaged team can turn your company into a champion.
A hallmark of high-performing sales teams is a high level of employee engagement. Dynamic teams with highly engaged employees work to each other’s strengths. Members have a clear understanding of their roles and responsibilities and buy into the company’s values and sales department goals and priorities.
Employees who are more engaged in their work are more likely to remain with your company – and that can pay significant long-term dividends. A Gallup study showed that companies that scored in the top quartile of employee engagement levels generated 18% more revenue, 23% higher profitability, 10% higher customer loyalty scores, and 43% lower employee turnover.
Encourage Employee Input to Solve Problems
In my 20 years of experience, one of the biggest lessons I have learned is that you must be open to new ideas. Too many sales leaders fail their team members because they believe they have all the answers. They become obsessed with their strategy and neglect getting input from their team.
When team members are involved in problem solving, they become more engaged in their work, feel more motivated and perform better in their jobs. Savvy sales leaders turn problems into opportunities. They are open to talking with team members about those problems/challenges and encourage two-way communication to find solutions.
Building a high-performing sales department takes time and commitment, but it also requires finding the right talent to join your team. By nurturing a vibrant, healthy company culture, you can attract and retain talented people who will share your passion for the company’s mission and values and position the business for continued success.
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