Having a sales process allows companies to streamline selling at every level of the business and has been proven to be an effective way to improve sales and increase revenue.
According to a study from Harvard Business Review, businesses with a standardized selling process have up to a 28 percent increase in revenue compared to those who don’t.
So what does a refined sales process look like anyways?
Keep reading this comprehensive guide and discover indispensable tips to improve the sales process and start making sales today.
Tip #1: Set Goals
Setting goals is a crucial component of the sales process. When you have goals in place, it gives you and your team something to refer to and make adjustments as necessary.
Examples of sales team goals could include any of the following:
- Increasing monthly revenue
- Reduce customer cancellations
- Boost profit margins
- Increasing units sold
- Increase qualified leads
- And increase the win rate
By targeting these goals, it gives your team something to strive for and, in return, will help increase the bottom line. If you need help developing goals, utilizing sales funnel templates can help give you direction while developing your sales process.
Tip #2: Get the Team on Board
Now that you have defined goals and have a direction in which you would like your sales process to go, its time to get the team on board with it.
Making sure everyone on your team is on the same page will drastically improve the process and will help you make sales.
According to a study by Math Marketing, aligned organizations have a 67 percent higher probability that marketing-generated leads will close. Marketing alignment is an integral part of having the team on the same page. When the teams are together, there should be significantly less disconnect between them, meaning more sales and conversions.
Tip #3: Understand the Customer
With everyone on the same page, its time to address the customer. To do this, you must first understand who they are and what they want from you.
This is going to take some research. Some practices to use to better understand your customer could include:
Listening to the Customer
Listening to your customer is one of the most effective ways of better understanding them and the preferences they have. This could be done through surveys, phone calls, focus groups, and even face to face.
Offer a Demo
If you have a product or service that you could potentially create a trial for, sending it to your consumers is an excellent way of receiving feedback. Knowing how the public is perceiving your product is priceless.
Through a free trial, you will better understand
- What is working
- What needs to be changed
Study the Competition
By studying the competition, it will give you a better handle on how the industry is doing and what mistakes to avoid. If you are looking to determine where your company fits in an industry, you could consider performing a SWOT analysis.
Tip #4: Create Awareness
In order to effectively sell any product or service, you will need to create awareness around it. Companies have come up with innovative ways to create awareness around their brands and products including
- Hiring influencers
- Using brand packaging
- Social media campaigns
- Using referrals
- And local partnerships
Creating brand awareness is essential in this day in age, with so much competition and channels to promote your brand.
Tip #5: Use Visuals
Companies are beginning to use imagery and visuals in the selling process because it tends to resonate better with consumers.
In fact, images are processed 60,000 times faster than reading text. It’s not enough just having pictures or videos though. They must be relevant to your business.
Images and videos are a great way to create brand awareness and increase sales, especially when used through social media.
Tip #6: Give More Than You Take
Nobody likes a business that just takes their money and gives them nothing in return.
Giving doesn’t always have to be something physical. It could come in the form of a thank-you phone call or follow up email.
Consumers appreciate companies that take the time to notice them and appreciate them.
According to a study by Havas, “consumers are willing to spend more money on a brand if consider you a meaningful brand.”
Tip #7: Utilize Technology
Using technology in this day in age is essential, utilizing technology to maximize sales and returns is where the focus should be.
Technology is changing the sales process as we speak. With things like:
- Social Media
- Email outreach
- Customer relationship managers
- And retargeting apps
It is making the selling process more automated but also more personalized at the same time. Other technologies like video conferencing, are making it easier for teams to come together and collaborate on projects.
Tip #8: Follow Up
Sometimes asking one time is not enough. Some customers need an extra phone call or follow up email to get them to buy your product or service.
Following up can be a great way to reconnect with potential consumers and give them a chance to reconsider. Like many individuals, sometimes they feel pressured during the first meeting or exchange and would like to think about it.
Some consumers hate being followed up with, while others embrace it. The secret is how you are following up. The more personalized approach you have typically, the better results you will see.
Tip #9: Analyze and Adjust
Now its time to utilize the key performance indicators (KPI) and determine what is working for you and what should be changed.
Popular key performance indicators that companies utilize include:
- Sales revenue
- Monthly sales growth
- Average profit margin
- Sales opportunities
- Average purchase value
- Sales per rep
- Lead to sale %
- The average cost per lead
You should be tracking this information, analyzing it to the best of your ability, and determining what needs to be changed in order to drive results.
More Tips on How to Improve the Sales Process
Now that you know how to improve the sales process, its time to put those sales representatives to hard work. Remember, there is no one size fits all approach to sales, but if you are doing all the necessary steps, you should see results.
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