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Sales velocity: the simple equation that will help you hit your number

by
Patrick O'Neill
Intercom
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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

  1. Prioritize viable sales opportunities by having well-defined qualification criteria.
  2. Focus on customers who are currently getting value from your product and approach similar ones.

Drive Up Your Average Deal Size

  1. Strive to understand your prospect’s pain points and pitch the value of the upsell accordingly.
  2. Sell quickly to smaller opportunities and thoroughly to bigger accounts.

Optimize Your Personal Win Rate

  1. When you lose a prospect, understand why your prospect is looking for a new solution.
  2. Figure out why your prospect is interested in your competitor’s solution

Shorten the length of your sales cycle

  1. Wait no more than one hour to contact qualified sales opportunities.
  2. Use content banks to make it easier for you to get prospects the information they need and fast.
    1. E.g., Guides, blog posts, and product overviews
  3. When a prospect is trialing your product, don’t weigh them down by checking in every two days.
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