If you can’t map your process, how can you improve it?

Sales Process

Mapping out your sales process is the first step towards effectively managing change.

Without a sales process to follow, how can you be sure about where the weak points are? How can you replicate excellence?

What are the steps to building your own model?

  1. Identify the stages in your own sales process.
  2. Find the metrics for each stage. These do not have to come from a sophisticated CRM system.
  3. Build a pipeline model like the one above. Count your “exits” at each stage.

Once you have, how can you use it? For starters:

  1. Consider the stages in your process. Do they make it more effective (like a qualification stage) or are they creating obstacles?
  2. Post the model up where your sales team can see it. Ask for their input into how to reduce the leakage from each stage. Use it to “keep the score” for daily/weekly/monthly activity.
  3. Use the metrics to support performance management. Sellers can use the metrics to track their own performance. Teams can work together on problem solving actions.
  4. How can you speed up each stage so that you can shorten the length of your sales cycle?

Through time, once you have model that shows consistency, you can use the model to put a value on your sales pipeline.

What next?

Give us a call to talk about how your sales process is operating (or not). We may be able to help you.

For any given period, the effectiveness of your sales process can be calculated with the following equation:

Total Sales = Qualified Prospects x Sales Conversion x Customer Lifetime Value

Start learning about how your sales process is impacting on sales performance by picking up the phone and calling us, or by filling in the contact form below.

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