Successfully converting prospects into customers is known as a sales process and is a key issue for businesses of all types and sizes. More often than not, it is possible to make this process more seamless by implementing a few easy improvements that encourage clients to make a decision at the point of contact and thereby purchase your product. You may thus be wondering: what can you do to improve your sales process? Here's seven tips for you :
1 - Determine your starting point
You can not make progress until you know what you are starting from. Your company's first step, then, is to get a clear outline of what happens throughout your sales journey, beginning with the lead and ending with the successful close of a sale.
To get a clear idea of the sales process in a transaction, start by mapping out each of its constituents
For example, how many prospects did you have contact with, through what means, who were they, and what interaction preceded their purchase? Once you define all the different aspects of making a sale, you are already on your way to creating the sale process.
With it, you will be able to follow prospects as they progress through the process since you will know exactly the path they take toward a successful sale. This will allow you to get a clear picture of how many prospects go through from the first point of contact to making a purchase, and will let you know how long it typically takes to execute it.
2 - Make your sales process a “recipe” that fits at least 80% of your sales cycles
As the name suggests, sales processes are made up of procedures that should be repeated over and over again by a company's sales team to convert leads into paying customers. With a well-defined sales process, your team will be better equipped to succeed. Therefore, you must have a repeatable "recipe" for closing deals, which will apply to the vast majority of situations.
The consistent use of this sales process will also allow you to predict your growth in revenue.
Our preconfigured application for Sales offers you a quick and preconfigured implementation to get you up and running quickly and on your way to success with the Microsoft Dynamics 365 application.
You must always be working to improve the efficiency of the sales process if you want to see your profits increase. To be effective, your sales team needs a system that is tailored to their needs, their market, their industry, and their product - a system that is repeatable and dependable for them to rely upon. Here's some best sales practises you can start with.
3 - Don’t be afraid to try new techniques
Most of the time, whether you are aware of it or not, you are performing the same processes. Having a routine may help you stay organized, efficient, and secure, but it can also make you feel like you are stagnating if you allow yourself to become too accustomed to it.
You should thus strive to get out of your comfort zone, as it is essential for your sales team that you overcome hesitancy and discover the rewards of taking risks.
Our Sales VP once dared our sales team to try our process in reverse. We have yet to try it, but I'm sure it's going to give us some insight on how we can improve our techniques. You could also add arbitrary constraints to help you limit your options and focus on some areas you may be neglecting.
Try reducing the size of your box if getting outside it is not an option.
If you're managing a business that relies on sales reps, diversifying out of your usual tactics, approaches and mentality can help you become more adaptable and open to new lucrative opportunities that you may not have considered before. You will also have more to contribute as you gain more experience in various domains. Whenever your sales efforts seem to be stagnating, do something new to shake things up a bit.
You could just come across the missing link you didn't know you needed.
4 - Keep updating and upgrading your sales process
For both new and seasoned sales reps, your sales process is an invaluable resource to ensure their success. However, if you do not keep it up to date, it will become less useful over time, as the market evolves. Therefore, you must make sure your sales process "recipe" is always up-to-date and accurate by reviewing and adapting it regularly.
Examine how relevant and accessible the material is, and don't be afraid to make changes where necessary.
It's also a good idea to include your sales representatives in the assessment process as well, since they have first-hand knowledge of what works and what doesn't. To this end, surveys and tests may prove to be a great tool for collecting all of the data needed to enhance your sales process based on its previous successes and shortcomings.
5 - Get the best out of collaborative tools like Microsoft Teams
Now that so many people work remotely using online collaboration software like Microsoft Teams, it has become a staple of an efficient company structure. On top of its user-friendly nature, Microsoft Teams offers state-of-the-art security, which lets its users safely design processes that connect leads, prospects, clients, and staff, all while having a valuable edge over the competition.
Your sales team will have all the tools at their disposal to create groups on Teams where information can be quickly shared among the staff, which goes a long way in terms of keeping everyone on the same page in regards to possible leads and closing deals. Even when they are out of the office, they can remain connected via Teams to communicate with their colleagues.
6 -Provide solutions for each step of the sales process
Do not leave anything up to chance; be thorough and detailed. Make sure that your team is in the know at all times, even if it may seem like a no-brainer at first. To ensurecompliance with each step of your sales process, it is critical to use all of the resources at your disposal.
For example, a sales checklist can prove to be a valuable tool, detailing every stage of the sales process in chronological order from top to bottom. This will guide your sales team through the necessary steps by having them complete each task one after the other, as intended.
7 - Track your progress with a CRM
When you're running a business, you must make a habit of gathering as much data about your clients as possible. Whenever one of your employees deals with a potential or existing client, your company gets new data that can be used to improve your customer service, boost sales, and keep clients coming back for more. In this case, CRM (customer relationship management) would be the software used for assisting companies in gathering, organizing, and managing client data.
You're wondering why you should invest in a CRM ? Here's why!
You have all of the information you need at your fingertips if you use a CRM to track every bit of data gathered from your customers. You will also be able to give your clients the individualized service they expect since every member of your team will have a better overview of your tracking, pipeline progression, and customer history. Plus, it's super easy to integrate with tools you already use, such as Microsoft Teams.
You're just 7 days away from a fully functional CRM !
To ensure that you are dedicating your time, money and effort to the right place, you must keep track of your sales process and its efficiency. In this regard, a CRM is one of the best ways to truly understand the process. Your leads and conversions can be tracked using a CRM to help you gain a better knowledge of the needs of your prospective clients and the skills of your staff. When you have all of your data in one place, it becomes much easier to see trends and challenges in the customer journey - your CRM will take care of that.
Therefore, any business, regardless of scope or industry, can improve its customer relationships when they deploy a CRM system.
Don't hesitate to contact us if you need assistance to reap the benefits of implementing a CRM as part of improving your sales process.