By Jeff Ogden – President of Find New Customers
One of the most time-consuming activities in sales today is chasing down contracts. There’s a better way.
Here are some of the things salespeople are spending time doing to chase down contracts:
- Calling to check the status of the contract (phone tag)
- Stewarding the agreement through the signature process
- Managing edits to the agreement as it passes multiple choke points
What’s even more important is what the salespeople are NOT doing while they are chasing down contracts. They are not moving other deals forward or calling prospective new customers – or doing other activities around sales lead generation. And since good sales leads and closed deals are the life-blood of business today, they’re hurting revenue results for their companies.
Data has shown in recent years that salespeople, when given fewer, but better-quality leads, close more than those salespeople with more leads –it is clear you need to focus on processes that generate better quality leads and free up precious sales time.
But this begs a question.
How can we recover time for sales?
One of the best ways to recover time is to focus on automating some of the salespeople’s most time-consuming activities. And one of the worst offenders is contract management.
Fortunately, a new class of services providers has emerged to fill this important gap. Find New Customers experienced this first-hand when we wanted to get a Statement of Work signed by a large software firm. I used DocuSign to create an electronic SOW form and I attached the electronic signature tabs to indicate where signatures were needed. The client ran it through legal, offered a few changes and the agreement was updated and DocuSigned within 24 hours! That blew my mind. A new prospect – met, agreed and closed in less than a week.
It seems clear to me that labor intensive sales processes like contracts management are ripe for automation, and you should check out how automating contracts with tools like DocuSign can benefit your company.
Jeff Ogden is President of the sales lead generation company Find New Customers and an award-winning marketing expert. He’s also the creator and host of the very popular TV on the web show, Marketing Made Simple TV. You can reach Jeff at host at marketingmadesimp.tv or follow him on Twitter at @fearlesscomp.