Do you have a formalized, standard sales process that is being used consistently? It is vital that you have a formalized, standard sales process that is communicated to everyone involved in sales or sales support and that it is being used by all. According to the Harvard Business Review, there is an 18% difference between companies that defined a formal sales process and those that didn’t. Sales people who follow a proven sales process are better focused and better able to move their buyers along the buying journey.
Adherence and consistency using a standardized formal sales process results in 26% more revenue per sales conversation with a 21% better conversion rate.
Another tool that may not be used effectively is a pipeline (or sales funnel). Sales pipelines are the beating heart of your business. Bad pipelines, whether they be smoke and mirrors or poorly managed, are like a bad heart, always in danger of killing you. Sales managers need to help their sales people manage their pipelines to move opportunities up, following the sales process defined by your company.
