4 Pillars of a High Performing Sales Process to Overcome Challenges

PresenterPrashant Kumar, Sales Manager, LeadSquared

What are the 4 performance indicators?

Signs of a stagnating sales process.

Leveraging sales automation to overcome challenges.

Analyzing and measuring a high performance sales process.

A sales process or sometimes called a sales system, is a step by step process for your salespeople to follow

that takes them through:

defining the target customer

defining where to find and connect with these prospective customers

connecting with the prospect (usually over the phone or through networking events)

employing a consultative sales tactics to qualify or disqualify the prospect

getting disqualified prospects out of the funnel asap

moving qualified prospects through the sales funnel

closing the deal

engagement and continued relationship building with goal to turn customers into evangelists

ability to request introductions (referrals from clients)

Predictability

Scalability

Self-Correcting Framework

Management System

Training

Measurability

Consistent Results

Understanding target customer buying process

Recruitment and product training

Better conversations and sales pitch while presenting

Automation

Buying process

a. Problem recognition

b. Information search

c. Evaluation of alternatives

d. Negotiation

e. Purchase

Problem

recognition

Information

search

Evaluation

of

alternatives

Negotiation

Purchase

Sales recruitment

a. While recruiting check how prepared the interviewee is

b. Talk about past achievements

c. Check how well they understand your industry or market

d. Emphasize on communication and sales skills

Product Training

“Sales warrior is like a warrior in war who is unequipped and ready to fail”

Do your home work (Know/research your customer)

Pitch to the right person

Meet only with appointments

Craft suitable pitch

Tell a story while presenting

Use the correct case study at the correct time

Be short and crisp

Sales automation is a technique of using software to automate the business process.

Key points:

Automates sales task and follow ups

Automated order processing

Lead capture automation

Sales forecast analysis

Sales warrior performance evaluation

Insufficient leads

Improper prospecting

Sales people not following the sales process

Manipulative persuasion tactics

Sales presentation (never works)

Lack of customer connect / building rapport

Objection handling

Neglect to determine the exact buying signal

Sales automation is simply, a technique of

using software to automate the business tasks

of sales, including order processing, contact

management, information sharing, inventory

monitoring and control, order tracking,

customer management, sales forecast analysis

& employee performance evaluation.

Although its marketing efforts brought in a huge number of leads at the top of the funnel, the sales team was

concerned that the leads weren’t of a good enough quality.

Marketing automation allowed McAfee to implement a lead scoring system and create a segmented nurturing

programme that gave prospects the right information at the right time in the buying process.

This greatly improved the quality of the leads that were passed onto the sales team.

As a result of this new automated system:

The number of leads reduced by 35% but overall quality improved.

Lead to opportunity conversion rate increased four times.

Alignment between sales and marketing greatly improved.

Byju’s Classes is a leader in test preparation segment. They generate hundreds of thousands of leads across online, chat, mobile app,

phone and offline channels. They faced challenges mainly in these three areas:

Lead Management: Managing them on excel sheets was becoming difficult and resulting in lead leakage.

Lead Engagement: With a huge lead volume, it is a challenge for any business to respond quickly to every inquiry.

Lead Prioritization: Identifying which leads were more likely to buy their course/tablet and which weren’t, was challenging

due the huge lead volume.

With marketing automation:

Byju’s achieved zero lead leakage and got rid of excel sheets filled with leads lying on each desktop.

Lead distribution feature cut down the response time drastically, thus, improving the chances of winning.

With lead intelligence, the sales bandwidth was applied to maximize the revenue potential.

Using marketing automation, they engaged and nurtured leads to retain mindshare and convert some of them into sales opportunities and

up-sell to existing customers, resulting in increased ROI on marketing investments.

With analytics, it was seamless to monitor and measure sales and marketing performance.

A. Open opportunities # per sales rep. In other words:

1. Inflow of new opportunities

2. Understanding total opportunities

3. Pipeline status

B. Closed Deals # per sales rep:

The number of opportunities your sales team closed, including both closed-won and closed-lost opportunities.

E.g. John had 10 opportunities for the month, out of which 7 closed and 3 were lost opportunities. So we

should ideally calculate his ‘win vs lost opportunity’ rate. In this case, John has 70% won opportunity rate v/s

30% lost opportunity rate.

C. Deal Size

This means: the average sales price of all your closed / number of won deals. Eventually this should increase

the efficiency of your sales process and make it stronger.

D. Sales Cycle

Analyze conversion metrics at every sales stage like

Market research to introduction call

introduction call to demo / meeting scheduled

Meeting scheduled to pilot / trial

Trial / Pilot to closures

Finally, shortening of sales cycle is also a sign of a high-performing sales process.

The 4 Most Important Key Performance Indicators for Sales Managers from The Center for Sales Strategy’s blog:

http://blog.thecenterforsalesstrategy.com/the-4-most-important-key-performance-indicators-for-sales-managers

4 warning signs of a stagnating sales pipeline from Velocify’s blog: http://velocify.com/blog/4-warning-signs-of-a-stagnating-

sales-pipeline/

Marketing automation: six case studies and an infographic on how it improves sales and revenue from Econsultancy’s blog:

https://econsultancy.com/blog/63748-marketing-automation-six-case-studies-and-an-infographic-on-how-it-improves-

sales-and-revenue/

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