How Electronic Signatures Can Boost Sales Performance
E-signatures help companies meet targets and drive increased revenues.
To get to the Olympics, elite runners need to have serious physical ability — these athletes must have unparalleled fitness, commitment, and an unbridled competitive spirit.
But at some point it takes something extra to differentiate even the best runners from the pack. Think about it. Those 100-meter sprints often come down to a fraction of a second. Having that added boost — clothes that regulate body temperature, sneakers built for speed, an energy-focused nutrition plan — can be the difference between winning the gold medal or not.
It’s a similar situation with salespeople. The best salespeople bring tremendous skills, resources, and drive to the table. At the same time, though, they know how and when to lean on that “something extra” — targeted technology and innovative solutions — to do their job more effectively and efficiently, while improving their odds of winning. Leveraged right, this equipment gives salespeople the competitive edge they need to keep going for the gold.
According to an Aberdeen study, the average sales team hits just over half of its sales goals. Additionally, 44 percent of organizations surveyed said their top stress point is the ability to hit annual revenue numbers and to do so profitably.
That’s just the tip of the sales-challenge iceberg, though. In this study, salespeople craved solutions that could track the seemingly endless moving parts in a single sales document — technology that they feel doesn’t exist or simply can’t keep pace.
And they aren’t alone. Too often, salespeople feel technology — tools and solutions that should empower them to be more successful — is actually keeping them from achieving their goals effectively and efficiently. Technology should be an enabler to winning. Technology should help the pit crew get the car back on the track as accurately and efficiently as possible.
In this case, the most popular solution is tapping into technology that enables salespeople and sales teams to create digital IDs and use e-signatures. Since e-signatures are just as legal as their pen-and-paper counterparts, they enable document signing and digital tracking — which can be a significant boon for sales. A recent Forrester study surrounding the economic impact of Adobe Sign, for example, found a 383 percent ROI, including $11 saved in printing and shipping costs and 1.3 hours saved per signing transaction.
Relieving pain points
In the typical sales scenario, a salesperson gets a tentative “yes” from a prospect, then quickly sends a contract for final review and execution. But in a typical sales process, the rep has no way to follow the contract’s journey once it is sent off into the ether of the prospective customer’s organization. The process is out of your and your team’s control.
E-signature technology, in combination with a digital document solution, gives that control back to you and your sales team, allowing you to track the complicated path every document takes. You can monitor who has viewed the document, who has signed it, and whose virtual desk it is sitting on. All of this means reps and sales management have greater insight into who in the client’s organization is on board, and who might need more reassurance or questions answered. They can then direct emails, calls, and resources accordingly.
When it comes to sales, there is often unnecessary risk in the lag time between interest and the final signed document. E-signature technology allows reps to streamline the cycle during the interminable final mile.
Consider this: according to the same Aberdeen study, e-signature users report a 29 percent higher close rate than non-users, and a 4.4 percent annual increase in close rates versus flat rates for non-users.
The best technology takes care of the busy work for sales reps, so all they need to focus on is the customer. Just like elite runners need every advantage to be at the top of their sport, salespeople too can lean on technology, including e-signatures, to deliver a winning outcome — increasing revenue and meeting targets faster.
Learn more about how Adobe Sign can help you boost performance and accelerate sales success.