In sales, it’s not just about how many orders you land but how quickly you close them. This is called sales velocity, and it can make a big difference in how much revenue you bring in. If projects drag on or approvals get caught up, your pipeline slows down. But when teams stay aligned and decisions happen quickly, you can close more deals in less time.
Outreach’s Anthony Zumpano says sales velocity comes down to 4 things: number of opportunities, deal value, win rate and sales cycle length, or how long it takes to turn a qualified lead into a buying customer. He says while there’s no “good” sales velocity number because it varies by your sales model and market, you can improve yours by addressing one of the 4 main components. We explain what Zumpano means in this issue of PromoPro Daily.
Generate more qualified opportunities. The key word here is “qualified.” Zumpano advises focusing your team’s prospecting efforts on the channels and activities that produce genuinely qualified leads. He says you could consider adopting account-based sales strategies to concentrate effort on high-fit accounts where qualification rates and deal sizes are naturally higher.
Increase your average deal value. If you’re smart about it, larger deals don’t have to mean longer sales cycles. Zumpano recommends identifying upselling and cross-selling opportunities early in the conversation. Give sales reps pricing frameworks that make bundled or expanded purchases easy for prospects to justify.
Boost your win rate. According to Zumpano, win rate is often where the biggest velocity gains hide. He points out research that shows that sales reps who receive structured virtual training demonstrate 41% higher close rates compared to those without it. Beyond training, he says it’s important to give sales reps the tools to spot and rescue at-risk deals before they stall. Spotting at-risk deals early enough to intervene is crucial to protect your team’s win rate.
Shorten your sales cycle. Every extra day in the pipeline is a day your revenue stays locked up. Zumpano says creating a mutual action plan, or a MAP, is one of the best ways to shorten the sales cycle. A MAP is a document that sales reps develop in partnership with buyers to ensure alignment on critical steps, milestones and deadlines required to complete the buying process.
They enhance visibility for both parties to reduce frustration and uncertainty, which in turn helps to shorten the sales cycle.
When you watch your sales velocity, you get a better feel for what’s really happening behind the scenes. You’ll see where deals tend to get stuck and where a small adjustment could keep things moving. Smooth out the process, and you’ll close orders much more efficiently.
Compiled by Audrey Sellers
Source: Anthony Zumpano is the content marketing manager at Outreach.
