Sales velocity is the measurement of how long it takes a business to generate revenue. The higher the sales velocity, the faster a business is making money.
How do you boost it?
Increase the Number of Sales Opportunities
- Prioritize viable sales opportunities by having well-defined qualification criteria.
- Focus on customers who are currently getting value from your product and approach similar ones.
Drive Up Your Average Deal Size
- Strive to understand your prospect’s pain points and pitch the value of the upsell accordingly.
- Sell quickly to smaller opportunities and thoroughly to bigger accounts.
Optimize Your Personal Win Rate
- When you lose a prospect, understand why your prospect is looking for a new solution.
- Figure out why your prospect is interested in your competitor’s solution
Shorten the length of your sales cycle
- Wait no more than one hour to contact qualified sales opportunities.
- Use content banks to make it easier for you to get prospects the information they need and fast.
- E.g., Guides, blog posts, and product overviews
- When a prospect is trialing your product, don’t weigh them down by checking in every two days.