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Is your sales process delivering the expected ROI? For many, the answer is likely no, since, according to TOPO Sales Benchmark, 59 percent of companies lack a well-defined sales process that will guide customers through to purchasing.
To make sure you can acquire more customers and also reduce customer churn rate down the line, you need an effective sales process. A streamlined sales process will boost productivity and improve sales efficiency.
The sales process is a series of well-organized steps that enable your sales team to close more deals, increase margins and make more sales through referrals.
Building the best sales process can result in:
In this article, we'll explore the top seven tips you need to build an excellent sales process:
How do you feel watching an increasing sales graph? It feels great. But, the challenge is to maintain the same rate of growth over time. So, analyze recently closed deals at your organization. Define the main steps, customer touchpoints involved in the entire process, and the time between steps.
To implement a well-organized plan, first you need to understand the math behind it; analyze data to put in a probabilistic method, which can reveal a pattern.
By analyzing data, you can learn:
The number of live communication tools has rapidly increased. Businesses can improve their customer communications with a wide variety of technologies like chat and messaging services. So choose wisely. Ask yourself, what is the best tool for lead generation?
There are yet many companies who are using outdated technology that can leave both their customer service team and customers frustrated.
Live chat communication tools have the potential to top any list in this niche. And when live chat comes with other features like screen-sharing, co-browsing and CRM, it can make a difference for business. Acquire software offers you all of these benefits in one platform.
Statistically, features like voice calling and, video conferencing build trust for new visitors, while screen sharing and co-browsing help maintain that trust.
“You are out of business if you don’t have a prospect.” – Zig Zagler
Lead qualification is kind of a ‘matchmaking’ service. Ask questions. Weigh the answers and see which customers you are a better match with. That’s how you can value your and your leads’ time.
Now, what aspects do you need to know?
These topics will help your sales reps to do a successful discover call and guide qualified prospects through the sales process.
This is the most important step to convince your leads for your service. Use live communication tools like Acquire, build trust by contacting through personal voice calling or video chatting.
Open up yourself and have an honest conversation about their company background, past and present challenges, urgency, expectations. Through all these, you need to understand why your product can be a necessity for them.
After that, connect your product knowledge to their needs; not the general technical knowledge but the solutions you offer, the uniqueness of your products compared to others and, how beneficial your product is.
Why do customers come to you? To gain some advantage, this is where you show what you have for them.
After the needs assessment, talk about the specific benefits to customers. Your products or services may have many brilliant features but not all are useful for each prospect.
Creating a new relationship is the easy part but maintaining it on the long run is the hardest. I’m talking about ‘customer retention’. If you are not nurturing the relationship, retention will decline.
This is where you need the best customer service you can come up with. This one is the most crucial, but often ignored part. All your sales efforts will go to waste if you are not taking customer service seriously. It can harm your reputation and trustworthiness.
To solve your existing customer issues, something as simple as effective voice calling and video chatting can work (like with Acquire's live chat tools). Also, a CRM helps you to keep track of customer details to understand their needs and preferences better.
A recent study for the Harvard Business Review shows that 71 percent of qualified leads are not pursued by and those that are are followed only 1.3 times on average. That’s frightening because, perseverance is required for your prospects to lead them to purchase. Also, after a closure, happy customers may pull in new leads for you.
Finally, I would say, building a standardized sales system is the best and fastest way to improve overall marketing results and revenue. If all the steps in the sales process are done methodically, you’ll be thrilled with how many customers will walk into the door.