For any business that works with phone leads, be it exclusive leads or aged leads, having the right sales talent is a must. Many of you know that without your sales reps, life would be a lot harder.
But what do you do when you need more sales reps? How do you know when the time is right? In this post, I cover three situations where hiring an additional sales rep is the right course of action.
When You Can Manage the Cash Trough
Sales reps don’t just cost your company the price of a salary, commissions, and benefits. A new sales rep is an investment that is going to cost you money upfront — for screening, hiring, onboarding, etc. — before paying off in the long run. It also takes time for a sales rep to lead any new business through your sales cycle.
Ask yourself if your business can manage this initial cash flow trough. That is, can you foot the bill for this new hire until the additional sales closings pay for the added cost of the new guy or gal?
If you can answer yes to this question, your business has good cash flow, and the expectation is that there is a good supply of untapped customers out there whose business your new sales rep can win. Hire away.
When Sales Is the Leakiest Part of Your Funnel
Perhaps you’re at a place where you’re retooling. You take a wide-angle look at your business on the whole and find that your sales department could use extra help.
If you have resources to spend, it’s prudent to put that spend towards the leakiest part of your funnel. Data, of course, will tell you where the leak is. If your analysis points to sales, consider hiring a new rep.
However, be sure you’re clear about why your sales team needs another rep. Do you have more leads than your reps can get through, causing a bottleneck and costing you lost or delayed sales? Or do you have a team that’s great at the lead gen stage, but that lets some prospects or requalified leads get away from you further down the line?
If the rest of your organization is in good shape — and you’re in the position to manage the ensuing cash trough — add to your sales team.
When You’re Ready to Grow
Lastly, if you’re ready to grow, it is time for news sales talent. Business at this stage doesn’t have any leaks, in sales or otherwise. Cash flow also isn’t a problem.
In other words, your business is poised for growth and ready to scale. Business demand is high — your process is effective enough to close sales and make a profit, yet you realize there’s still more business out there you could have. So go for it.
Many of the businesses in this favorable position pair the hiring of new sales reps with efforts to increase efficiency. A shorter sales cycle, of course, will boost your profits, and if you can onboard new talent ready to work your new efficient sales cycle, you can boost new profits even further.
When the Time Is Right
When the right time to hire a new sales rep does come along, make the most of it. Hesitate and it could disappear. Your competitor could snap up your talent, or your potential client base. Knowing when to hire is half the battle when it comes to sales growth.
If the time has come for you to add a new sales rep, consider what type of leads you’ll work to grow your business. Aged leads offer a great ROI for many types of businesses, from mortgage refinance to auto insurance. If your new hire is eager to get to work and works well with established systems, consider working aged leads as you take your business to the next level.
Moving forward with an aged lead strategy? Pick up a fresh supply of high-quality aged leads today at the Aged Lead Store. We have thousands of sortable leads ready to buy, whether your business is auto, life, health, or home insurance, mortgage refinance, or solar installation.