Make The Sales Process a Competitive Differentiator
November 22, 2022
Businesses, obviously, operate in a highly competitive environment. An outstanding sales process can be a defining strength for a business as it competes with direct business rivals. A defined sales process has a dual goal to ensure buyer satisfaction and generate higher revenues.
The following five success methods can be easily adapted for any size business:
1. Standardize Lead Response Time
Rather than having sales representatives respond to acquired leads at their convenience, focus should be placed on making responses as soon as possible. The quicker a lead is replied to, the greater the chances of successfully contacting the prospective customer and eventually converting that individual or business into a paying customer.
Businesses should actually track how long on average it takes for a lead to be contacted whether this is from a sales rep or even the owner of a small business or SME. Regardless of who contacts the lead, the goal is still the same and that is to reduce response time as much as possible. A greater percentage of sales will go to the first business that replies to a lead.
2. Nurture Leads
Nurturing leads is an important concept. There is more to selling than simply making contact with a potential customer and waiting for a lead to develop. Nurturing leads is a multi-pronged approach of calling, emailing, direct mail, social media, paid targeting, and personal visits (depending on the business and type of customer). Marketing and sales should work together to achieve optimum results.
3. Prove Something
Sellers must convince buyers of the logic of their buying decision. They must clearly articulate benefits being purchased and solutions to problems as persuasive reasons why their product or service is the one required by the buyer rather than a competitor's product or service. For this to happen consistently and effectively, relevant sales materials must be available for review and/or demonstration in addition to a defined and well-rehearsed "sales pitch."
4. Educate Prospects
Although many buyers of products and services will have undertaken a certain amount of research regarding pricing, options, warranties, etc. depending on the product or service prior to contacting a business, they still must to be guided by the seller. Understandably, if buyers had every fact about a product or service available to them, there would be little use for a sales team, and they would simply buy when they were ready.
Since this is not the typical case, sellers must educate buyers on the particular product or service they are selling to help buyers make informed decisions. Part of the sales process should be to prepare sales representatives with significant and sufficient information that is highly useful to prospective customers. An educational approach versus a hard sell can guide a buyer into making a comfortable purchasing decision.
5. Tell Great Stories
Buyers appreciate being educated on benefits, data, etc., but they also like hearing stories in which they can place themselves in similar situations facing similar challenges. When stories are shared, buyers can better visualize what is being offered, what they will be purchasing, and what benefits will be received. Customers love hearing success stories how another business or individual used the product or service they are contemplating purchasing.
Work On The Sales Process
Sales processes must constantly work to be effective and successful for a business. Sales do not go to just any company but go to businesses with the best sales process. Therefore, businesses should constantly analyze and revise their sales process with the ultimate goal of generating higher revenues with a more efficient process and productive sales team.