Using Transcripts to Improve Close Rates
One of the benefits of using web-meeting software to conduct sales meetings is that every conversation between a prospect and an account executive can be recorded. In fact, almost all of the leading packages such as Go-to-Meeting or Web-ex provide this functionality. At CrossBorder Solutions we initially taped every interaction. Management would then spend time poring over the recordings to better understand what was working and what wasn’t.
Specifically, we were able to better understand from prospects what portion of our demonstration, offer etc. was resonating. This was critically important as we tried to discover our Product/Market fit. In addition, the recordings provided management with the ability to hear first-hand how the members of our sales team were functioning.
Not only did this help us train/coach, it enabled us to understand very quickly which account executives were going to work out and which ones were likely to fail.
While listening to the recordings was helpful, the only drawback was that it was terribly time consuming. So much so, in spite of its importance, it became difficult if not impossible to listen to enough recordings to have a clear understanding what was truly going on with the sales team. While an incomplete view was better than no view at all, this limitation was certainly a roadblock.