The impacts of the sales process for your business
The impacts of the sales process for your business
Everything in a company is directly related to sales. From the Marketing area with lead generation, to the After-Sales and Customer Success area. In other words, if there is a target area within the companies, it is the sales area. Without this important area, sales do not happen and revenue to maintain the company's business is not generated.
Tajarat strives to be Pakistan's biggest real estate developer ever, guaranteeing the highest international standards, prompt execution, and lifetime customer loyalty. For further detail visit nova city
But it is only with all areas working with synergy that it is easier to ensure that the next sale happens, which is why the commercial area demands a well-structured sales process to achieve a successful operation.
We know how much every area plays an essential role in ensuring that companies' sales flow continues to rise, but it is in the commercial area where the metrics need to present – without fail – the desired result. This is why being aware of the benefits of the sales process is so important.
Structuring a sales process is not an easy task. Most companies end up leaving some holes in the way that negatively influence the final result. In this scenario, there are three critical errors that must be avoided:
Not knowing how long it takes to acquire a customer,
It is common that managers do not have a lot of time to structure the business process. However, when it is possible to do it in detail, it is easier to avoid wasting time and money on actions that do not contribute to the success of the business.
A big mistake, for example, is having the numbers only in your head and never having calculated the time to acquire a customer with real and accurate data. In practice, when managers make this calculation for the first time, they are surprised with a relatively high number, that is, much higher than they imagined. Having this number clearly and keeping this calculation up to date will help detect issues throughout the entire business process.
Tip: Keep an eye on this number, because usually when a sale takes too long to come out, the problem can be directly linked to the quality of the leads sent to the seller. To calculate the time taken to acquire a customer, have all the dates of the funnel steps recorded, preferably in an online system (records in Excel can change and harm your real view of the sales process).
Not being aware of the cost of acquisition of each customer for the company (CAC)
Another number that is often only in the head of the commercial manager and is not properly calculated with true or updated data. There are several factors that can influence the cost of acquiring customers and, in addition to the importance of calculating it, it is also necessary to be careful not to leave out any relevant cost.
Therefore, try to raise all the variables that influence your customer's acquisition cost and be aware of the value you need to keep your company running in a healthy way.
Tip: If you're still having trouble calculating the cost of acquiring customers, Exact Sales has a more detailed article about it. Check here how to calculate the CAC.
Divert the seller's real function
In the past, it was the salesperson who went from door to door looking for a customer. With the advancement of technology and easy access to information, companies have greatly evolved the way they do prospecting and selling. If your seller is still prospecting, be aware that this must be costing your company dearly.
The seller's role is one: to sell. In the business process you will have described who is responsible for each step and will be able to measure more precisely how much each step is producing. If your salesperson does anything but sell, your analysis of his performance will be compromised. In addition, the salesperson without a sales focus drastically increases the cost of acquiring a lead for your company.
Tip: Hire a person just to perform the pre-sales focused on generating qualified leads . If your impression is that this is an extra cost, just add up how much your salesperson spends doing both activities (prospecting and sales) and compare with the expense he will have when acting with attention only to sales. You will find that the return of a pre-seller to your company will lead to a much better end result in your sales process.
How to structure a business process
When structuring a business process, start focusing on the metrics that have the greatest influence on the final sales result: sales time, conversion rates for each step of the funnel (generation of qualified leads, contacting, presentation, proposal submitted, acceptance time) , average ticket worked, customer acquisition cost, professional performance, among others.
The business process funnel metrics and steps can be many and may differ slightly by business type. Therefore, the importance of having access to this data will make your work faster and more practical. One way to achieve this is through commercial management tools, they already present the entire structure of the process necessary for your business to flow. So, in order not to waste a lot of time and money with unsuccessful attempts, look for someone who already understands and has references of success in this context.
Tip: Tools for complex sales such as Exact Spotte software or Moskit CRM are to solve your main difficulties and build your sales within an accurate and successful sales process.