| There were days when companies thought about | | | | there was consistency in the information they obtained. |
| improving the product alone to enhance sales. In | | | | They could digest the information easily and share it |
| today's hyper-competitive global market, growing sales | | | | with the clients. |
| is typically based on improving the sales process first. | | | | The revamping resulted in the elimination of 66% of |
| Understanding the sales process and how best the | | | | unnecessary information and a 70% increase in web |
| sales force is adapting to it will enable companies to | | | | site use and traffic. The division manager of product |
| focus on the sales resources better. | | | | marketing for the telecom company admitted that the |
| A commitment to quality in the sales process is central | | | | bottom line was - a huge boost to sales productivity |
| to the growth dynamics of any enterprise. Each step in | | | | and revenue. |
| a sales process should be well defined and the action | | | | (Source: [ |
| to be performed clearly set. Beginning from | | | | A good sales process should be revamped to include |
| researching leads to closing a sale, everything should | | | | uniform product information and the best resources |
| move in clockwork precision. Apparently trivial things | | | | available for salespeople. There should also be |
| can make a huge difference to the final outcome. So | | | | effective product samples at the disposal of sales |
| care must be taken to strengthen every action | | | | force for demonstrations. |
| involved in each step of the sales process. And often | | | | Customer Focused not Vendor Focused |
| it's mistakenly assumed that salesprocess | | | | Sales process guru Michael Bosworth firmly believes |
| improvement means sales training. Sales training may | | | | that sales processes should be customer focused. |
| be a part of the sales process improvement training, | | | | They should address the need of the customer. |
| but it is a broader subject. | | | | Vendor focused processes cause confusion and |
| Following are some examples of how improving the | | | | delays. The customer is always interested in and tuned |
| sales process can make a difference. | | | | into radio station WIIFM, "what's in it for me"? A sales |
| Fresh and Creative Prospecting - The list of leads | | | | process should be modified to communicate that. |
| should be current and include as many qualified leads | | | | Spending Time with the Prospects - Does a prospect |
| as possible. Trying to qualify prospects from a partially | | | | qualify for your time and attention? If yes, how much? |
| redundant list of leads is going to waste your time and | | | | Genuine prospects should be paid attention to and it is |
| prospecting efforts. A firm with a stale source of leads | | | | wise not to waste too much time on prospects that |
| has got it all wrong from the beginning. Working on the | | | | won't buy. Distinguishing between the two categories is |
| leads and checking for their revenue potential will | | | | a fine balancing act that every salesperson in the |
| mean that you start your prospecting activities from a | | | | organization must know. Research has shown that the |
| position of sales strength. This will require good lead | | | | best salespersons spend considerably more quality |
| generating and customer relationship management | | | | time with their top prospects. |
| (CRM) practices. | | | | They also spend less time on paper work. A survey |
| A Chilean company, Andrueza Patrimonios, rode the | | | | conducted by Watson Wyatt of 841 salespeople from |
| wave of economic boom and made impressive | | | | 500 companies with large sales forces has established |
| growth. But soon the sales force found that they were | | | | that the best sales professionals from financially high |
| making duplicate calls and that the information | | | | performing companies working for high incentives and |
| gathered during sales calls with clients were lost. This is | | | | stock options invest 40% more time on their best |
| the example of a terrible loss because of the absence | | | | prospects and spend an additional 3-4 hours on |
| of a good customer relationship management - CRM - | | | | high-value sales activities than their counterparts do in |
| program to keep track of all the information. | | | | financially low performing companies. These achievers |
| All possible channels of generating leads should be | | | | also analyze the needs of the prospects in detail and |
| considered. Have you tried social networking websites | | | | allot more time to prospects that they know. |
| apart from trade shows, seminars, and lists of | | | | If a good sales rep is producing satisfying results but |
| companies as potential customers? Do you know how | | | | taking an inordinately long time to do so he could be |
| and when each of your prospects prefers to be | | | | the victim of this - getting hypnotized by posh offices |
| contacted? A good sales process makes provisions | | | | of potential customers and spending more time than |
| for all of these sales actions. | | | | necessary there. Some of the high-profile potential |
| Response Time and Quality | | | | customers may actually be looking for very |
| Sales depend on external customers that have | | | | competitive prices for low volume of purchase. They |
| identifiable expectations from your company. They | | | | may be valuable as customers but are the long hours |
| wish that their questions and concerns be responded | | | | and special attention lavished on them worth it? An |
| to within a reasonable time limit. They expect a certain | | | | effective sales process should weed out such time |
| level of clarity and objectivity in the answers they | | | | consuming practices. It can lay out a broad time range |
| receive from salespeople. A simple issue, such as | | | | to be allotted to different categories of customers. |
| response time to a new client inquiry can make a huge | | | | Too Close to a Good Closing Yet Missing Out - Do |
| difference to actual sales outcomes. When a | | | | you have sales reps that get very close to a fruitful |
| customer wants a proposal from a company she/he | | | | closing but don't succeed in clinching the deal? They do |
| expects to get an initial response within a few hours | | | | everything right to get there, but miss the target by a |
| and an actual proposal within a reasonable time frame | | | | whisker. There are uncountable numbers of sales |
| depending the size and nature of the project. If a sales | | | | efforts that have come very close to a successful |
| rep fails to send a proposal in a reasonable time-frame | | | | deal and failed at the last minute. The reason - lack of |
| he is out of the race even before it has begun. | | | | knowledge of proper closing techniques. A solid sales |
| Technology can play a vital role in responding quickly. | | | | process lays down the best closing practices to be |
| An email from the customer can be accessed when | | | | followed. Be aware if your salespeople are asking the |
| out of the office and responded to instantly through a | | | | right questions or offering the right incentives to close a |
| Blackberry, Palm, and Windows Mobile. There are | | | | deal? Are they practicing active listening techniques |
| many customer relationship management- CRM- tools | | | | and allowing the customer to talk? Are they allowing |
| out there that are inexpensive and yet very useful. It is | | | | the customer to say "yes" to a deal? Are they |
| a sin not to be using these devices to get back to | | | | keeping some offers until the end as final incentives to |
| customers immediately. | | | | strike a deal? |
| A set of winning proposals of past sales can be | | | | An effective sales process makes it clear to all sales |
| stored in your company data bank and every | | | | reps to use the best closing techniques. |
| salesperson should be allowed free access to them. | | | | Repeat Business - Referrals - Signing a deal is not the |
| The stored proposals should cater to all permutations | | | | end of the sales plan, it's just the beginning. There are |
| and combinations of customer requirements within all | | | | more deals in the offing and a good sales process |
| budget ranges. So the moment there is a proposal | | | | recognizes that. Repeat business is easier and |
| request from a customer, a sales rep will just have to | | | | cheaper than prospecting for new business and every |
| search for a few proposals broadly fitting the | | | | sales process should include steps to procure repeat |
| customer's requirements from the archive. From those | | | | business via a referral process. After a sale has been |
| the best one suiting the customer and the sales | | | | made the sales rep should follow up with the customer |
| opportunity should be selected. This should only take a | | | | about the performance of the product and the degree |
| few minutes. Changing the content of the proposal to | | | | of satisfaction of the customer. If the customer is |
| tailor it to the exact need of the customer is what the | | | | happy with the product than it can lead to repeat sales |
| rep in question has to work on before sending it to the | | | | or sales through his network of contacts. A sales |
| customer. Remember customers appreciate a quick | | | | process gives this fact due consideration and |
| response. A delayed response may reach a customer | | | | mandates that sales reps don't wash their hands of a |
| when the deal is already closed. | | | | customer after the sale is made. |
| Streamlining Product Information | | | | Practical Sales Process - Take an honest opinion poll |
| A Fortune 50 telecom company had 300 product | | | | of your sales reps and find out what they feel about |
| descriptions on its web site that were being referred | | | | the company's sales process. If the majority of them |
| to by its sales force of 5000 people spread all over | | | | feel that it's - "Too theoretical", "It worked back in 2001", |
| the world. The product description was done by | | | | "Management's fantasy", or "Cast in computerized |
| several authors and lacked coherence as well as | | | | concrete" - it's time for you to consider overhauling or |
| uniformity in voice. That caused confusion among the | | | | changing the entire sales process. |
| sales reps and they found it difficult to provide | | | | Sometimes a problem may lie with a single step and |
| consistent information. They couldn't find quick | | | | may need slight modification. Evaluate periodically how |
| answers and when they found answers those didn't | | | | your sales process is performing. Watch out for weak |
| match the sales process. They didn't trust the web | | | | areas and fortify them. A sales audit can help in |
| site. A consulting firm was roped in to set the problem | | | | identifying problem areas that require attention. |
| right. The consulting firm streamlined the product | | | | It is less of an art and more a scientific formula that |
| information and created a logical and intuitive navigation | | | | the combination of a smart sales process and efficient |
| framework for the web site to support the sales | | | | salespeople almost always produce astounding results. |
| process. | | | | Companies therefore should have a vibrant and |
| The consulting firm rewrote the product descriptions in | | | | workable sales process in place to aid their sales |
| a uniform style. Salespersons could now access | | | | force in achieving their sales targets smoothly. |
| information at every step of the sales process and | | | | |