Having a well-defined and meticulously mapped-out sales process is more than a best practice; it’s a necessity.
Shockingly, according to Objective Management Group’s statistics, a staggering 91% of salespeople either lack or fail to follow a formal, customized sales process. This revelation brings to light a critical issue – without a structured sales process, teams are likely not working as effectively and efficiently as they could be, directly impacting profitability and hindering business growth.
So, why is mapping your sales process a non-negotiable in today’s competitive business environment?
Eight compelling reasons
1. Visibility and Lead Tracking: Gain clarity on where your leads come from and how they convert into customers.
2. Early Qualification: Enable early qualification or disqualification of opportunities in the sales pipeline.
3. Predictive Forecasting: Achieve accurate predictive forecasting, crucial for strategic planning.
4. Unified Team Approach: Ensure your team is on the same page, singing off the same song sheet.
5. Coaching and Accountability: Provide sales managers with the ability to coach and hold salespeople accountable using a standardized process.
6. Self-Discovery for Teams: Empower your team to make their own discoveries regarding areas of improvement.
7. Identifying Roadblocks: Easily identify roadblocks in the sales process for prompt resolution.
8. Business Scalability: Facilitate business scalability and expedite the onboarding of new salespeople.
If your organization lacks a defined sales process or if it’s been gathering dust, it’s time for a revisit. Spend time documenting the journey you want your sales team to take prospects through the sales funnel. Without a structured sales process, your team will not be working as effectively and efficiently as they could be.
Insights from a Sales Luminary: Dave Kurlan’s Approach
Renowned sales leader Dave Kurlan shares insights into creating effective sales processes.
He emphasizes the importance of collecting all steps, milestones, and to-dos, dividing the process into stages, and identifying missing elements.
Optimization is crucial, focusing on proper sequencing, ideal timelines for each stage, and weighting critical milestones for accurate sales forecasts.
The culmination involves translating the sales process into a spreadsheet for CRM customization, complete with a visual representation on a baseball diamond for better understanding.
The Untapped Potential of Selling to Existing Clients
Many sales leaders recognize the profitability of selling to existing clients but lack a proactive plan.
Beating competitors to the punch requires a strategic approach to capitalize on this untapped opportunity. Moreover, after onboarding new customers, a separate process is needed for upselling opportunities – how and by whom should this be quantified?
Collaborative Sales Process Creation: A Path to Success
Crafting your sales process should be a collaborative effort. Outside viewpoints often bring fresh perspectives.
At the end of this process, you can expect numerous benefits, including a framework for consistent results, standardized activities for all salespeople, increased productivity, a clear coaching framework, greater pipeline accuracy, and a shortened sales cycle. In essence, a well-defined sales process is the blueprint for achieving sustainable success in today’s competitive market.
