Is your sales process effective?
The sales process is a set of steps that link together, from creating an opportunity and lead qualification to completing the sale. Assessing the effectiveness of the sales process is, therefore, an important step in your business strategy.
Your business plan will not be rigorous if the process and methodologies that underpin your sales actions are not consistent with your business strategy. It may considerably limit the likelihood of increasing your sales performance and, thus, compromising business growth.
When we have a complex sales (B2B) business, process flow is very important.
Consider a “classic” sales process with 6 phases:
1. Prospecting
2. Qualification
3. Presentation
4. Negotiation
5. Closing
6. Follow-up
This structure may not be best suited to your reality. This is very relevant, given that each business has its specificities.
Therefore, you should carry out a process and methodologies analysis, validating their fit into your sales strategy and plan for 2020. Have the processes been tested? Did they produce results?
Review the sales process
Let’s focus on mapping your current sales process. Was it designed to help your team in achieving their goals, having, hence, consistent and repeatable steps helping commercials create routines? Are they giving consistent answers? Does it translate your product strategy? If the answers are yes, then it may help to improve your business conversion rates.
Let’s start by analyzing and typifying your customer. Select a set of recent sales and try to figure out what made the difference. What methodology or step led to a customer decision? What is the approach and tools used? Do you have different scenarios, being, hence, ready for different situations?
Why do you lose sales
Another important step is to know why you lose sales. Because, sometimes, companies draw conclusions without sufficient data, it is an important element to validate data. Reps need training in selling techniques, we have to review prices or competition is very aggressive. These are, among others, examples of reasons given.
Select a series of 10 deals and dedicate time to your analysis. It can be the vital starting point for a more effective process that leads to improved sales performance and, thus, business growth.
Lost for price? Do you spot common points between the various examples? Was the solution presented the most appropriate? Do salespeople follow the most appropriate methodologies?
Test the process
Submitting the process to a test phase will help you confirm data and finalize decisions. The best way is to accompany the team on the ground, ideally at different stages of the sale.
Finally, create a checklist to validate what you have seen and understand to be the most effective process.
Learn more on https://salesfactory.pt/en/sales-marketing-consulting/