Successful businesses are taking a structured approach to create a reliable sales process. A comprehensive sales process can help drive revenue growth by concentrating on high impact events that drive a selling opportunity across the sales process by increasing the number of time reps. Too often, sales representatives are not focused on important selling activities – the strategic milestones – that help drive their customers’ decision processes. Instead, sales reps solely focused on “creating value”, expecting their customers to “see the light” and make the switch to their solutions.
Reconfiguring your sales process and defining it effectively could create a sustainable competitive advantage. It has a positive impact on its survival and encourages steady growth in revenues. There are several reasons for having a sales process developed including:
It’s important to set a process when it comes to sales. That ensures the productivity of your team. A sales process delivers clearly defined steps for your sales staff to follow. Your sales team has a big advantage as they know what needs to be accomplished at each stage of the sale over those who are left to work as they want without a process.
A well-defined sales process also helps your organization by clearly identifying each department’s roles as they relate to sales. It spells out the responsibility of each department along the way. And it provides both structure and a common approach relating to the different stages and phases. This facilitates clear communication between departments and prevents misunderstandings or miscommunication.
Increased Revenue and Forecasting Accuracy
A well-defined selling process has been shown to result in increased revenue. Often, the repetitive nature of a sales process makes the sales team more effective at screening out leads that have less potential.
While revenue is one advantage, accurate forecasting of potential deals in the sales pipeline is another beneficial advantage of having a sales process in place. Sales teams with a straightforward plan are more successful in winning deals and getting a greater picture of their win rates. Which leads to more precise forecasts.
Like all managers, sales managers want to ensure that all sales reps in the team meet their assigned job requirements as they should. The sales process makes it easier to determine which metrics and key performance indicators (KPIs) to track. It promotes accountability for the activities like entering data in a CRM or other tracking system for the sales team by specifying clearly what will happen, and when, along the way.
Due to the resulting experience and proficiency development, continuous improvement is promoted through the repetitive nature of the process. It also simplifies the ongoing refinement of your sales process.
It is difficult for you to properly handle your sales operation without getting a sales process. You know what is, or is not, achieved. You don’t really know how it happened, or why it didn’t. If you miss out on potential sales and don’t have a consistent sales process, you cannot really understand where it went wrong and, as a result, what to do to fix or change.