Blog Post

Five Things Your Payroll Sales Team Must Know about Prospecting


“Sales is easy,” said no truly successful sales professional ever, especially when it comes to prospecting. In fact, in one recent survey, more than 40 percent of salespeople ranked prospecting as the single most challenging part of the sales process – more so than closing (36 percent) or qualifying (22 percent). Here’s what you should know if your payroll software and service staff are struggling:

  1. More opportunity means higher attainment – Maybe: There’s a definite correlation between the number opportunities consistently in a sales prospecting pipeline and a consistent reaching of sales quotas. In once recent study, 72 percent of companies with less than 50 new opportunities per month failed to reach their revenue goals. That’s compared to 15 percent of companies that kept 51 to 100 potential opportunities lined up, and just four percent of those with 101 to 200 opportunities. A key factor, however, is knowing that at least 50 percent of prospects will prove an ill fit for your products. Minimize time spent on these lost causes and make sure there are plenty more “yes” possibilities in your pipeline.
  1. Sales prospecting is an every-day job: Analysis of 15-months of sales data revealed that the average sales professional makes far more calls in the last month of the quarter than in the first two. Those eleventh-hour calls, however fervent, proved far less effective, as sales invariably were lower in that final month. Don’t allow your sales staff to get complacent at the turn of a new quarter. Make sure their call rates and efforts remain consistent throughout each month of each quarter.
  1. Talk the prospect’s talk: Successful sales calls are less about telling a potential client what’s offered than about finding out what the prospect needs to make his or own work successful. Surveys show that six in 10 prospective buyers want to discuss pricing and more than half want to understand how a product works on the first call. Certain words are stronger converters, too. Top performing salespeople are 10 times more likely to use collaborative words and phrases like “we,” “us,” “our,” and “together” rather than “I,” “me,” or “your” – and for good reason. These words have proven to increase success rates by 35 percent.
  1. Show and tell: There’s no doubt that video plays an increasingly important role in sales of most any product or service today. According to search marketing company WordStream, marketing videos posted on landing pages can increase conversions by 86 percent. And while 20 percent of respondents in one recent survey said they will read text on a page, 80 percent say they prefer watching a video. B2B buyers agree. Seven in 10 say they watch videos to help inform their purchase decisions and rank videos that communicate products features as the most helpful, followed by how-tos and professional reviews.
  1. Leads work: According to VentureBeat, 80 percent of marketers use automation software to help generate more leads. Of them, 77 percent consistently convert those leads. And while great sales professionals develop many of their own leads, 77.3 percent credit their employers with providing at least a quarter of those leads.

To further boost your payroll service bureau’s software technology, consider partnering with Apex HCM. We offer a full range of customizable software and cloud solutions developed specifically for payroll, human resources and time and attendance functions. Call 877-750-2739 or request a demo online. []