How to accelerate sales with e-signatures

Aug 13, 2020

As the primary revenue generation activity in every for-profit company, sales is typically treated with much importance. Business owners know that constantly smoothening the sales process is a necessity. From lead generation to lead capture, up until closing the deal, the aim of every business should be to make the process as seamless as possible for their clients and themselves. 

Signatures are traditionally required at the last stage of a deal—when you are closing. With e-signatures, however, you get an extra edge.

Sales teams can use e-signatures to strategically improve their sales funnel.

Here are some of the ways you too can apply e-signatures in your business:

Improve efficiency

According to a report from Mckinsey, sales reps spend just around 39% of their time selling or interacting with potential customers. A good amount of the other 61% is spent on administrative activities like getting paperwork to the right people. Most of these admin processes can be streamlined once you have an online e-signature solution to accelerate sales with e-signatures. With an e-signature solution, you can create your paperwork and share it with the necessary parties on the same platform, at any time, instantly. And salespeople will have more time to do their primary duty.

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Allows you to update on the go

Sales is primarily about negotiations and compromise. As you engage clients, you’ll likely need to adjust the terms of the deal to make sure that everyone is happy with it. When dealing with physical documents, this back and forth can cause lengthy delays before a final draft of the agreement is gotten. With e-signatures, you can edit the documents on the fly and avoid unnecessary delays. The documents are stored in the cloud, and changes are applied right away. 

E-signatures are legally binding and accepted by laws worldwide. And cloud providers are required to maintain a strict level of security accreditation to make sure your documentation is kept safe and secure.

Better decision implementation

Every salesperson knows that the shorter the time between a verbal agreement and getting a contract, the less likely the client is to change their minds. If you have to deal with physical paperwork, the back and forth will always take some time.

With e-signatures, you can send the document to the customer as soon as the agreement is made.

It doesn’t matter how far away you are from the clientjust a few clicks on your laptop or mobile device, and the document is in their hands.

Improves stakeholder management

When dealing with large organizations, you should expect the decision making to go through several stakeholders. There is typically no way to know who these stakeholders are apart from the ones your sales team interfaces with.

E-signatures come with document trackers that can identify who opened the document, including their time and location. Your company can use this information to track who the decision-makers are in the organization. This information will be handy in case you have a new pitch or need to do a follow-up. 

Avoid proposal black hole

The proposal black hole is where most proposals go to die. More than 50% of documents go unattended after a client has received them. E-signature solutions feature document tracking. You know if your document was opened. And you will receive instant notification whenever someone signs the document or fills in another prompt. So you can reach out to them immediately with any follow-up and improve customer relations.

Conclusion

Accelerate sales with e-signatures can have a remarkable impact on the way you do business. It helps to shorten the sales cycles by saving time on mundane activities. The quicker a deal is, the better it is for both parties. And customers with be thankful, as they too, are reluctant to go through the stress of printing, signing, scanning, and sending documents. 

Apart from helping with sales, e-signatures can also streamline internal processes and improve collaboration. Instantly shareable and editable documents will contribute towards increased productivity across the organization.

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