Building up a truly effective sales process requires a little time and effort on your part. You have to be aware of the sales cycle steps and other parameters involved in the process as well. Putting in the initial hours to create an efficient sales process will benefit you immensely in the long run.
Overview about sales process
When you talk about sales process, this basically refers to a set of key steps which can be repeated by the sales team easily. This enables swift movement of the prospect to a closed buyer from the early-stage lead scenario. A stronger process for sales helps in closing out deals more consistently by generating a more usable framework overall.
You should always have a process for sales which works in a complementary manner as far as your business procedures are concerned. This will involve sales personnel, representatives, customers and your services/products. Your goal should be the enhancement of overall conversions, closing a higher number of deals and of course, making sure that all sales professionals ensure steady and comfortable experiences for customers.
What are the sales process steps?
The vital sales process steps can be encompassed in a nutshell below:
- Prospecting- This refers to getting more leads in the early stage to commence the sales process. This will require research online along with networking and referrals. A tool like LeadX helps in empowering and incentivizing everyone in the organization to generate warm leads instantly for handover to the sales team.
- Connecting & Qualifying- Start contacting leads in the early stage and qualify the leads on the basis of whether they are cold, warm and so on. LeadX helps in this regard as well, filtering out only warm leads (since they come from employees who use their relationships and personal goodwill to churn out the same).
- Researching- You should do more research about each and every sales prospect and understand how you can solve their particular problems.
- Presenting- You should always present your core premise, solutions and product/service formally to interested prospects. Make sure that you have a brief yet compelling presentation that draws prospects to your brand.
- Covering Objections- Sales prospects may often raise objections to the proposal or presentation made by the sales professional. The team should be ready to handle the same with care and address all potential issues swiftly.
- Closing- This involves activities like final negotiations, sweetening the deal, throwing in some extra goodies, delivering quotes and so on. These are essential before the final closure of the deal.
- Communicating & Keep Selling- Sales professionals should keep following up periodically with customers to check whether they are happy and are receiving good service. This will go a long way towards building fulfilling relationships in the future. This will also help in generating referrals for your business.
How to map the sales process?
When it comes to a framework to map sales processes, you should aim at unearthing any inefficient activities, get insights into what is actually working with customers and also sync your process with the key goals of your company/business.
Here are some tips worth following:
- Always set specific destinations/goals for the sales team.
- Share goals with other company divisions including customer service, marketing, IT and product teams for achieving the same.
- Check the history of the sales process, the effective steps which worked and the steps where prospects fell off the radar.
- Measure the time taken for each sales process step while mapping which teams work on particular steps.
- Analyze the journey of the buyer from his/her perspective.
How to improve your sales process?
When it comes to enhancing your sales process, you can follow these key steps:
- Analysis of present process- Check what is actually working and what is absolutely not. Tailor new sales processes to fit buyer needs even better for closing more deals. Understand the time taken for every stage of the process and look to make it more efficient.
- Delineating the journey of the buyer- Always have the buyer journey neatly defined for targeted audiences or prospects. This will help you solve more pain points in the bargain. You can get valuable insights into creating more convenient and smooth sales processes for faster deal closure.
- Clearly defining actions of prospects as they shift to the next level- Always have a thorough understanding of the things that make prospects shift from one stage of the process to another. Identify these reasons and enhance them at the outset.
- Clearly defining criteria for exits at every sales process stage- This should be defined for the team clearly at the beginning. The whole journey of prospects to another stage and the exit from the same should be laid down for the team to understand.
- Monitoring and measuring the results of the process- You should measure how many sales prospects switched in and out of every step in the process in a particular time-frame. You can also track the step which takes more time to shift out of, as far as prospects are concerned. Other parameters include the number of prospects who purchase after getting a demo and the figure which asks for a demo after an initial sales call for instance. You can also track the churn rate for customers.
Have a clear lead generation and sales system in place
LeadX is a one-stop platform where you can empower everyone in your organization, including partners, to post warm leads for fast handover to the sales team. Progress is tracked on one platform and deals are closed as teams, fostering a better culture of sales in the company.
Employees receive recognition and incentives to post warm leads courtesy their own personal and professional networks. Organizations break sales silos and swiftly handover leads to sales professionals. This ensures faster conversions as well and leads quality is filtered at the beginning itself, saving you more time and money in the bargain.