How important is it for a company to both have and understand its sales process? It’s not just important – it’s crucial to sales coordination, management and company expansion. A company’s sales process is the precise series of steps through which a sale passes, from prospect through to close. A sales process could also be referred to as a “pipeline” through which all your sales run. For example, one B2B software company uses a fairly common pipeline model of lead, demo, booking, and close as individual steps, and each of these steps are monitored.
How do you determine the stages of your company’s process? You can’t set sales pipeline management on the right track until you’ve gathered, correlated, interviewed, and established a foundation on which to build.
In this eBook you will learn and be able to act confidently to get this important first step done right.
Chapter 1: Know Your Sales Process
While a salesperson very familiar with a company’s product or service may be able to operate without established pipeline management, it is doubtful anyone else will. An established sales process means a sales force that works as a team, all moving in the same direction.
Chapter 2: Account Management: Buyer Profiles Are Key to Sales Process
Today, savvy salespeople are learning that a great pitch and some information on the target customer company and their needs no longer cuts it. Today’s account management wins come from digging in and fully understanding a company, their requirements, and the specific target personnel and their jobs.
Chapter 3: Sales Process: Real-World Examples
How does a sales process – also known as pipeline management – affect a company’s overall sales? A 2012 study by CSO Insights found that companies with workable sales processes had higher numbers of reps making quotas, higher percentages of company target attainments, reached a higher percentage of forecasted sales, and had lower sales turnover.
Chapter 4: Sales Process Stages: Focusing on profitability
Exactly isolating your sales process – the precise steps taken by your sales reps from prospect to close – is crucial to your company’s operation. But once you have done so, how can you then use that data to focus sales attention and predict future sales? This is the essence of utilizing the stages of your sales process.
Chapter 5: Sales Process: Utilizing Sales Personnel
There is another vital use of pipeline management: the proper utilization of sales personnel.
Chapter 6: Importance of the Sales Process–Outside of the Sales Pipeline
The firm establishment of a sales process, closely reflecting specific real-world sales actions that move sales from prospect to close, is vital to a company’s smooth operation and expansion. But not only is such establishment needed for salespeople and sales managers – it is also quite important for other individuals and departments outside of immediate sales pipeline management.