When asked, most sales organisations will claim to have a sales process. But there's a huge difference between having a loosely defined process that sales people give lip service to and having a highly effective and widely adopted sales process that is really driving sales performance.
The difference between the best and the rest, according to researchers from the Harvard Business Review, translates into an average 18% advantage in revenue growth. Other studies (including our own experiences) suggest even more dramatic benefits.
So how can you tell whether your current sales process needs attention?Here are 10 tell-tale signs. Any one of these could be damaging your revenue potential:
- You find yourself struggling to reach your revenue targets
- Sales performance varies from one period to the next
- There's a big gap between your best sales people and the rest
- It's hard to uncover enough qualified sales opportunities
- You aren't able to convert enough opportunities into sales
- You're failing to engage with the real decision makers
- Opportunities keep getting "stuck in stage"
- Close dates have a habit of moving backwards
- Deal values keep getting revised downwards
- It's taking too long to ramp new sales hires
If you recognise any of these symptoms - and in particular if you recognise a few or many of them - your sales process could certainly benefit from some attention.
ABOUT THE AUTHOR
Bob Apollo is a Fellow of the Association of Professional Sales and the Founder of UK-based Inflexion-Point Strategy Partners, the B2B sales process consultants. Following a successful corporate career spanning start-ups to established corporates, Bob now works with a growing client base of B2B-focused growth-phase technology companies, helping them to implement structured selling systems that drive predictable revenue growth.