Sales process design and implementation
Every organization has a Sales Process, documented or not, consistent or not. A sales process should be clearly defined, measureable, repeatable and executable, comprising a series of steps beginning with lead generation, and going all the way through to landing the sale. Your Sales Process should encapsulate practices that yield results.
Here is a typical sales process:
- Incoming Lead
- Sales Conversations
When your sales team is not generating results as expected, we need to quickly diagnose what's not working, and often simply identifying these performance "gaps", can lead to actions that can quickly drive demonstrable improvements. For example, a 5% improvement in the efficiency in "Lead Generation" might in fact yield an overall improvement in multiple elements across the Sales Process, and conceivably generate overall performance improvements of 15% or more.
Every business is defined by the unique processes that it executes. Some organizations have outstanding delivery processes; others have top notch customer service. Moreover, others have phenomenal product management processes. Sales shouldn’t be different. It’s still a process. All the great sales organizations have a productive sales process. We only need to think of such companies as Xerox and IBM, known for the way they manage sales and as such have earned the title of outstanding sales schools.
A popular myth is that the success of sales largely depends on having top notch sales representatives. Having worked with superstars in the past I can say with a great deal of certainty that the biggest differentiating factor that makes these individuals overachievers is that they have a great sales process. However, be careful; when they leave so too does the sales process.
Taking control means understanding the entire sales process; how it works, what results you should expect at each step, making adjustments or improvements consistently and most of all executing. The concept is no different than running any other business process. Selling is much more of a science than an art. How else can we explain how some companies consistently succeed in top line revenue goals? You guessed it, they have a great sales process.
Elevate Coaching believes that a sales process is like a sophisticated machine with lots of moving parts. Changes in personnel, market dynamics or even regulations will affect the performance of the sales process. To this end, every leader must have at his/her disposal a tool kit designed to maintain, improve or fix a sales process. Elevate Coaching designed a framework composed of six dimensions many of which are interdependent, meaning that when you implement elements of one or more of the dimensions, there is a positive impact on one or several other dimensions. The aggregate effect is that the entire sales process improves. Below is the description of Elevate Coaching’s Sales Performance framework and a brief description of each dimension.
As leaders constantly support these dimensions without ignoring any of them, the sales process has a much better chance of delivering results that are proportionate to work put into these dimensions. After all, great input into a system results in a great output.
Elevate’s Sales process Performance Framework will prove instrumental in supercharging your sales revenues and setting your business on the road to continuous improvement. You'll book more business, reduce your expenses (and stress level), attract better employees, and grow faster...a lot faster, because that's the least that you deserve!
What it is?The Positioning dimension involves the use of different tools and techniques to get grounded about how to differentiate your offer from that of your competitors. For example, Elevate Coaching’s Value Proposition Matrix is a tool to assist in developing a consistent message related to the value proposition. It takes into account different hierarchical levels of prospective clients and configures the message differently. This is to avoid conflicts of interest among different groups that are interested in acquiring your products and services.
Why it’s important?Positioning clarifies your understanding of how you want your customers to perceive your product or service, what your unique competitive advantages are, and which particular niche you are targeting. With a meaningful positioning in place, you can claim leadership of your niche, experience less competition sell more and avoid conflicts in complex selling scenarios.
What it is?Visibility is your view into what is really going on in the important sales cycles. With his view, forecasts are more accurate, slipping deals are identified early; critical actions are identified and executed on resulting in more closed sales. Elevate Coaching`s TrackPoint empowers you to build a realistic picture of the future to predict sales, identify selling opportunities, and spot threats, so that you, as a business leader, may take well-informed decisions.
Why it’s important?Leaders need to know precisely where future revenue is coming from with a high degree of accuracy in order to make investments today to grow the business. Elevate Coaching believes that visibility into what is coming is crucial in managing growth.
What it is?These are the techniques for using appropriate KPI’s (key performance indicators) at crucial points along the entire sales process. Each sales process is unique and thus requires bespoke, meaningful metrics. Elevate Coaching helps establish KPI’s that make sense.
Why it’s important?What is measured can be improved. As stated previously, a sales process has many sub-processes running in parallel. It’s imperative to measure the performance of these in order to evaluate their effectiveness and to make positive changes.
What it is?Factors such as the rapid digitalization of the marketing functions and the proliferation of Social Media necessitate that you enhance and express your knowledge beyond the confines of your products or services. Conversational Fluidity thus becomes an integral part of the culture of your organization. The module specifically covers:
- Domain expertise — get your people competent to talk about everything else surrounding your products and services so that they are seen as true experts and thus of value to your prospective clients.
- Industry expertise — get your people educated on the trends and issues within your niche
- Business acumen — sharpen your people`s skills and insights related to how your products and services impacts your prospective clients business.