|
|
Like this article? PLEASE +1 it! |  |
|
Sales Process
Written by: Colly GrahamArticle Overview: Why Your Business Needs a Sales Process A great sales process can help your sales force succeed. The benefits of a sales process
 |
Free Download - Solution Based Selling - Become a Doctor and Do a House Call By Colly Graham |
Sales Process
Why Your Business Needs a Sales Process
A sales process is simply a series of customer-focused steps that enables the sales person to substantively increase win rates, build customer retention, and increase revenue production. Each step consists of several key activities and has a predictable, measurable outcome.
A great sales process can help your sales force succeed.
The benefits of a sales process include:
• Definable steps. A sales process helps you identify best practices for working through sales opportunities. Random acts produce random results.
• Predictable outcomes. A sales process helps you see which steps will bring a sales opportunity to closure.
• Repeatable activities. A sales process helps you replicate your successes and avoid your failures.
• Measurable results. A sales process helps you forecast revenue and measure the time required for key steps in the process.
A well-defined sales process can help you:
• Identify and qualify leads.
• Find more opportunities for repeat business among your existing customers.
• More consistently position the unique value that your company can deliver versus the competition.
• Discover your customers’ needs and match these needs to your products or services.
• Identify and deliver convincing proof that your products can meet those needs.
• Better assess the revenue potential for a given customer – and be able to view consolidated information for all customers in your sales pipeline.
• Negotiate and close more sales.
• Build stronger relationships with customers and business partners.
• Put a follow-up process in place after the sale that helps drive customer satisfaction – and generates repeat business and referrals.
Buying Process v Sales Process
Customer Buying Process
All customers go through five basic steps in the Customer Buying Process.
Step 1: Identify needs. Business owners look for ways to improve revenues and market share, to lower costs, and to improve operating efficiencies. Consumers look for ways to improve their standard of living or their overall satisfaction.
Step 2: Determine requirements. The customer’s goal in this step is to clearly identify all the aspects of the problem or opportunity they are trying to solve and to specify the requirements for a solution.
Step 3: Evaluate options. The customer solicits proposals and seeks out proof that the potential vendors can meet the stated requirements.
Step 4: Negotiate. The customer now has a clear understanding of the options available and begins negotiations to acquire the product or service. Price is one consideration, but negotiating considerations include the cost of change and the risk that the solution will not meet their needs.
Step 5: Implement and evaluate success. The product or service is implemented and the customer begins the process of judging whether it truly meets the stated needs.
Five steps define the sales process methodology. Each step is made up of several key activities with predictable, measurable outcomes. The steps help the business person succeed by:
1. Focusing on a total understanding of critical business issues faced by customers.
2. Developing potential value to be gained by customers.
3. Creating a strong desire in the customer to buy products and services supplied by your company.
Step 1: Prospecting. At this first stage of the sales process, the salesperson is generating qualified leads, finding new opportunities among the existing customer base, and differentiating his or her company versus the competition.
Step 2: Qualifying. In this stage you and the customer are sizing each other up.
Step 3: Proposal. When you reach this stage the promises end and you have to demonstrate to the decision maker that your company can really deliver the goods.
Step 4: Decision. The desired outcome, naturally, is a successfully negotiated deal.
Step 5: Repeat Business. A signed contract is really just the first part of the Process. The Repeat Business step acknowledges that it is indeed a sales process – not a moment in time when a contract is signed.
What is your Sales Process...
Do you have one? Is it working? Do you need one?
Why Follow a Sales Process?
Wireline vs. Wireless
Differentiation is the Key
Salesperson Wimp-Out: I Need Help
It Is All About the Buyer
Article Tags: business owners, business partners, convincing proof, customer retention, customers needs, drive customer satisfaction, existing customers, market share, measurable outcome, measurable results, predictable outcomes, random acts, random results, repeat business, repeatable, sales opportunities, sales opportunity, sales person, sales pipeline, step 1
|
About the Author: Colly Graham RSS for Colly's articles - Visit Colly's website  Click here to visit Colly's website   Presenting the Sales Solution Objections Common Responses THE RAINMAKER HUNTER FARMER SALES ROLE Presenting the Solution Understanding Motivation A Key Requisite of the Sales Manager |
Related Forum Posts
Online Sales and Marketing vs Traditional
- Hi Evan,
I am noticing that many of the posts in the Sales/Marketing section deal with online marketing, SEM and and SEO and Affiliates. I was wondering if it might be a good idea to separate that section into two; 1) Online Sales and Marketing; 2) Traditional Sales and Marketing
Re: Online Sales and Marketing vs Traditional
- [quote="ltrahan":31w9r2iz]Hi Evan,
I am noticing that many of the posts in the Sales/Marketing section deal with online marketing, SEM and and SEO and Affiliates. I was wondering if it might be a good idea to separate that section into two; 1) Online Sales and Marketing; 2) Traditional Sales and Marketing[/quote:31w9r2iz]
I second the request...
Hello From Marietta GA!
- Hello All!
My name is Tim Naylor and I am in Direct Sales! I am glad I have found EC's sites and I hope to learn and share a lot!
taxes in canada
- Well in Canada we only have a few provinces and the Sales tax is slightly different. Here in Ontario the Goods & Services tax has reduced to 5% from 7% in the last year due to the promises made by the government in place.
Re: Watch What you Read
- I agree. i believe more video's should be like Jeffery Gitomers video's under his Sales rant. They are typically not more than 3 minutes. His model seems to be;
1. Main Message (or Point)
2. Example
3. Next steps to put it into Action
take away the extra "blabber" and you've got viewers that will come back.
Share this article with your friends. Fund someone's dream.
Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
by: Jeff Ogden, B2B Lead Generation Strategies
The Office Bully
Important "Lessons Learned” For Leaders, According To Your Strategic Thinking Business Coach
Direct Sales Business Pursuit of Abundance
Never Give Up! The Power of Determination 
Leadership Essentials
Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Work Life Balance: Adding White Space
Adjusting Your World
What If You Had a 100% Success Rate?
Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.