You have your sales process well structured, the team strictly follows what was determined. However, for some reason, your company is no longer meeting its sales target.
Or worst. Sales volume decreased compared to any specific period of the previous year, for example. That seems to make little sense, doesn’t it? After all, if it’s all right, why can’t you sell?
The truth is, it’s not uncommon, after a while, for some sales strategies/methodologies to stop working for your product or service with your target audience. At this point, it is necessary to be calm to start reflecting and diagnosing the problems.
Perhaps the flaw is not in the adopted methodology, for example. But to be able to identify the gap, it is necessary to accompany the process with precise data that only a sales CRM can offer.
In this article, we bring some questions to help you identify where your company’s sales process has been failing, in addition to the importance of not losing opportunities in the sales pipeline with the use of a CRM – after all, performance indicators are essential for you keep selling more and better.
Check out 8 videos to help boost your sales
1. How are the indicators during the sales process?
First of all, it is essential for your company to deal with metrics and indicators. They are vital indicators for the manager, the leader of a sales team, to diagnose and make decisions more assertively.
Keep in mind that only with them is it possible to identify what is and is not working in your business’ sales process. Within this idea, some indicators are important:
Conversions by step
How many leads move from one step to another within your sales funnel? Knowing these numbers is extremely important, after all, only with them is it possible to define the amount of leads that need to be generated at the beginning of the flow so that the MQL and SQL goals are met.
It is necessary to identify the barriers that prevent the lead from becoming a real customer.
Is the problem in prospecting?
You prospect many companies and very few respond positively to the first contact. Despite this, MQL qualifies the few leads that advanced in the sales pipeline and MQL manages to close some sales.
The problem is in the prospecting, because you are focusing on the wrong market or using the wrong approach strategy – after all, the conversion rate fails at the beginning of the process.
Is the problem in closing?
You prospect many companies and many give a positive response on the first contact. MQL qualifies leads and they advance to SQL, but only a very low number of sales are finalized. Well, so clearly the problem is in the sales process, isn’t it?
Have you ever noticed, in your company, how long it takes for a lead to effectively become a customer? The maxim that “time is money” applies very well right now. After all, while a lead is just a lead, it is costly for your business – only by becoming a customer that becomes profitable, right?
To make this process as expedited as possible, measure on which date the prospect contact converted at each stage of the sales funnel. In this way, it is possible to make decisions in a safer way to improve, speed up this process.
Therefore, a sales CRM becomes essential to optimize results and make the next step safer and more assertive.
Didn’t understand a term we used in the article? No problem. Access our glossary of sales terms.
2. Is the sales approach correct?
To measure sales success rate, approach is critical. Above, we talked about prospecting, but to be successful when selling, it is necessary to have performance indicators to calculate the sales index.
Another important factor is knowing the moment when the lead gives up on making the purchase and does not advance, thus, in the sales funnel. Even if your sales team has a complete mastery of your product information, you might want to try out new approaches – never forgetting to document the new attempt. After all, if it works, you’ll want to repeat it.
So, reflect. Is your sales team’s approach the right one?
Read the article that explains why improvisation is not amateur in B2B sales
3 – Are you building a reference image?
It is naive to think that your customer will not seek information about the problem he has before talking to your salesperson. Because of this, it is important to understand that your company needs to be an active part of the sales process.
And this is possible by providing information that helps to mature customer knowledge with relevant content on a particular topic.
In other words, you need to educate him. Being an authority, a reference on the subject is essential for the client to trust you. And if he trusts you and you have the solution he needs, the way to sell is much easier.
4 – Are you selling to the right customer?
“Wow, what nonsense, of course I am.” This may seem like an obvious question with an even more accurate answer, but the reality is not always that.
Your company may even, most of the time, be selling to the ideal customer profile. However, the days go by, the weeks too, and the goals need to be met.
And then, in a sales process that fails, the SDR starts making an appointment for the salesperson without properly qualifying the lead.
Even more so, for example, if the commission paid to him is by scheduled appointment and not by sales made.
If that happens, the seller will waste time talking to prospects who aren’t ready to buy. And if he wastes time with this, the company will lose money, the target will not be met, the sales forecast will be impaired… well, and then you’ve seen it, right? Your sales process will be failing.
5 – Does your product or service really solve the customer’s problem?
Even if the lead has information, you know better than the customer what your product is like. So, knowing that, answer: Can you really deliver everything your prospected leads need?
It seems obvious that the answer is “yes”. But ignoring that question may be the reason why your sales targets aren’t hit. And not worrying about customer success is crazy.
To measure customer loyalty rate, be sure to consider performance indicators.
Analysis. Are the fees not satisfactory? So maybe it’s time to better understand your target audience and, if necessary, adapt your product or your speech.
Seller has to sell. Is your sales management correct?
6 – Does the commercial team use a sales playbook?
Assertive and standard speech, in accordance with the company’s values, goals and objectives. Is this a problem in your company’s sales routine?
So a playbook is essential. With it all good commercial practices are documented. Email templates, sales scripts (but not closed), triggers for closing, ways to bypass objections, among others.
Here, in addition to talking about the sales playbook, we have a template available for you to edit and use in your business.
7 – Are there feedback meetings to improve internal processes?
The item above necessarily depends on this one. It is necessary to be in constant improvement. Sales training is needed for the team – maybe coaching is not the way out?
But more than that, feedback meetings are essential. Performance appraisal is important and needs to take place. Objectives need to be defined, deadlines stipulated and the sales process, thus, adjusted.
Without that, forget it. You can even identify where it fails, but you’ll never be able to take action to fix it. Define actions, take action, monitor and bring them all back together to see what went well and what was wrong, and repeat the process.
8 – Do you use CRM in the sales process?
Of all the questions mentioned above and the suggested solutions, only with a sales CRM is it possible to have the necessary indicators to identify and correct the gap in your business’ sales process. With Pipe Run, among so many possibilities, you can
- create multiple pipelines – After winning an opportunity in the sales pipeline, you can duplicate the same opportunity in the after-sales funnel so the after-sales team can work on the opportunity;
- Recognize the source of opportunities – Find out from which sources you have the most and best closures. Thus, it is possible to act on these origins to strengthen the most profitable and scalable origins;
- Set an alert for stagnant opportunities – set a maximum timeframe that the opportunity can get stuck at the step that Pipe Run will warn when it is expiring. This way you act on top and never lose a deal for lack of action;
- Monitor the reasons for loss – Evaluate and correct your actions and offers. Thus, you will be in constant evolution within your sales process, without harming your forecast.
With these tips, we hope you have more control over your sales to grow and be more of a reference in the area in which you operate.
So, how can we help you?
Take the opportunity and read two articles that can be useful in your daily business.
The first provides valuable sales tips to help you hit your goals.
The second covers essential sales metrics to take care of whether the business process is good or not.