The sales process refers to a repeatable set of steps your sales team takes with a prospect. That way your team can move the prospect from a potential customer to a happy and paying customer.
You need to ensure that you have a repeatable system that multiple individuals can implement. Focus on your customers, have measurable goals, and prepare to adapt to different situations, changes, trends, and contexts.
A good sales process helps your reps consistently close deals by giving them a systematic framework to follow. Building a repeatable, scalable sales process can be tough. A sales process should address the following: account lead flow and distribution methods, team structure, scripts, tech stack, playbook, deal stages, demo timing, price quoting, and many other critical factors that play into making a sale.
Account lead flow refers to the management of sales leads. These leads move through a sales funnel, and the flow describes the way that it moves. You don’t want to deluge your reps with leads or lose track of these potential clients. Know which businesses and individuals are more valuable than others, and rank them accordingly.
When giving leads to reps, you need a system that’s sensible. How are you going to distribute your leads? Sales reps want to know that they have a fair shot at acquiring customers. Speed and compatibility — capturing leads as quickly as possible, and knowing which reps work best with certain clients — are important factors. Know which method works for your team.
You cannot have one person alone manage sales if you have a vast amount of sales. It takes a village to raise a child, and it takes a team to build your client list. You need more than representatives; a team needs management and admin. The additional roles include a hiring manager, administrator, developer reps, account managers, and customer service. Developer reps will get your sales reps the leads they need.
Know how many team members you need for your company. Ensure your hiring manager lacks bias. See if you need to separate the process or lead sales reps through complicated funnels.
You need a template when pitching customers. An elevator pitch won’t cut it for longer interactions on the phone or in-person. Rather than a sales rep rambling about benefits or getting off-track, they have a system of bullet points they can use as a source of reference.
Scripts provide templates for your reps to follow. They don’t have to read it verbatim — in fact, it’s best if they don’t during a call — but they can prepare for communication by reading them ahead of time, the way movie actors do.
Tech stacks are essentially your tech toolbox. You don’t need a hammer and nails to perform your sale, but you do need software in the twenty-first century. Many communications and business ventures happen by computer. In this case, your tech stack optimizes your sales rep’s performance by assisting with various tasks.
You can use tech to increase customer engagement, project sales, and manage your people. In addition, you can ensure that everyone receives warnings about weather changes or such. Rose Garden Consulting has more info on the tech stack page.
The playbook is the set of rules and guidelines that you follow for your company. It’s more than a rulebook, however; it also provides blueprints for running your business. Profile your ideal customers, and figure out how you plan to handle competitors.
Make sure that your playbook is well-designed and prepares for contingencies. Cover ethical gray areas and define boundaries for your reps. These investments in business strategy will pay off in the long run.
The deal has several stages: prospecting, appointment, qualification, presentation, agreement, contract, and closure. It’s best not to skip any of these steps.
Prospecting is finding clients, while you make an appointment to meet them by phone or in-person. Qualification means to see if they are a good fit for you, and vice-versa. Presentation is when you make your pitch, and agreement and contract are the best-case scenarios to ink the deal. Closure can refer to if the deal went through or not.
Know how you plan to handle every step of the process. A rep forced to improvise may find themselves losing a prospect. Have quality-control on hand.
In a demo, you demonstrate your product or service to a prospect. This can win them over if they see physical proof that your product has value. What’s more, you can create a memorable visual impression.
Manage your time carefully. You have a limited amount of minutes to convince investors or customers that you can sell. Focus on the features that are relevant to your customers. Do not ramble.
When you give a quote, you are giving a detailed list of the costs of your products or services. Printers do this when people want to print in bulk, and the difference between this and an estimate is that a price quote is more binding and less likely to change.
Make sure your price quotes follow a uniform system. If there are discrepancies, explain extenuating circumstances for varying price points. Ensure the product or service quality justifies any prices. Mind what competitors offer as well.
We approach the creation of a sales process holistically. We don’t believe in band-aid fixes or changing one piece of a sales process. Our process accounts for changes in other places.
It is an entire sales ‘system’ that requires changes in all key areas to make sure there are no unintended consequences. We’ve pulled together an introduction to all things “sales process” to help you get started down the road toward defining what your company’s ideal sales process should look like.
Companies with a strong sales process, build in a larger margin for error for their company and reps, but rarely need it. You would rather have the margin of error, and a thorough plan for your process.
Rose Garden Consulting is ready to look at your business and make improvements. We have the experience and expertise that you need.
Contact us today to learn more. Rose Garden eagerly awaits your request for a complimentary initial consult.