Sales Model

  • Sales Process
    Key Elements

    Sales Process Key Elements

    The Sales Process is driven by the buying process and insight from top sales performers(stars) and is designed as part of the Sales Strategy. A Sales Process is a map, a methodology, a systematic series of actions that leads to expected outcomes and thus facilitates better forecasting. It leads to a higher probability of sales success and better enables the harnessing of company resources to achieve a goal. It also facilitates better diagnosis of sales problems and better training and coaching of sales people, such that they can diagnose customer problems better, create better solutions and manage the sale effectively and efficiently.

    A Sales Process can turn average sales performers into stars.

    The key elements of the process are:

    • The customer's buying process
    • The selling process activities that align with the buying process
    • Transition milestones. These are verifiable outcomes that indicate success at each selling step e.g. Plan stage is finalised when Territory, Account and Opportunity plans are created
    • The Roles that are required for each stage of the process. This will specify the type of sales person required as well as how other company resources will support. For example; Solution sales, sales support, inside sales, marketing, operations etc. These will have been specified in the sales strategy.
    • Sales Tools that are used to facilitate each stage of the process e.g. Territory, Account and Opportunity Templates for the Plan stage.
    • Sales Management System facilitation by the predictability of the transition milestones. This, in turn, enables accurate forecasting.

  • Sales Process

    Sales Model - Sales Process Activities

    The sales process requires much more detail than can be covered here. Some items of note, however, are as follows:

    • Planning:- Fail to plan then plan to fail. Planning includes Territory, Account and opportunity plans.
    • Creating Opportunities & Stimulating Interest:- It is the primary responsibility of the sales person to generate sufficient leads to make target and should work closely with Marketing to achieve this. Marketing will drive specific vehicles such as trade shows and seminars which will enable salespeople to meet new opportunities. Networking is a primary opportunity for new leads. Networking opportunities include existing customers, referrals, industry associations & social events.

    • Creating Opportunities & Stimulating Interest(contd.) - .Prospecting requires a very specific time laid aside by the sales person and this must be done on a weekly basis to ensure that the pipeline does not become too skewed. Sales cycle for complex solutions are usually long and problems in hitting target can be hidden without vigilance and careful monitoring.
    • Qualification:- Key principles to be acknowledged include (1.) spend 80% of the time on qualification (leads to a stronger opportunity and more likelihood of success).(2).Getting in first and lead the sale: - This can mean getting in very early with customers and nurturing the interest carefully until the pain is fully admitted and there is a budget there to fund the solution.
    • Developing Opportunities:- This includes the creation of a solution and submission of a proposal. If the ground work has been done properly in qualification this should be a very simple process. It should also ideally include the submission of an evaluation plan which will help control the sale.

  • Sales Management

    Sales Management System

    The Sales Management System includes Diagnosis and Coaching. Diagnosis includes pipeline analysis & opportunity analysis. This analysis feeds into corporate reporting including accurate forecasting and pipeline status. The opportunity analysis and pipeline analysis often have processes of their own and range from informal to formal bid reviews. Bid qualification reviews are included in these processes and are used to decide on bid/no bid decisions and about how much company resources to commit to a specific bid.

    Coaching covers both opportunity coaching and skills coaching. This can cover training, reviews and meetings. The Sales Management system can work in tandem with, and feed into, a formal Performance Management system related to personal performance appraisal, development and reward review.
    A continuous, holistic process can be created whereby a culture can be created for the continuous improvement of processes, skills, behaviour and contributions. It is about sharing expectations, improving interrelationships, continuous planning, measurement and review.

  • Sales Automation

    Sales Automation System

    A Sales Automation system will improve efficiency by enabling

    • The capture of key information simply.
    • The delivery of information on time to salespeople, management and colleagues.
    • The creation of a pipeline and accurate forecast on a salesperson by salesperson basis.

    Sales automation can be rudimentary using spreadsheets, a public service such as Salesforce,com, a private system such as Siebel or a bespoke system based on a private system. Sales automation can be costly and distracting to implement and is most cost effective once the company has a clear idea of its sales process and sales management system.

  • Marketing

    Integrate Marketing

    Increase efficiency and turn Sales People into Business Consultants by integrating Marketing fully with sales. Marketing offers:-

    • Lead Generation
    • Market Coverage
    • Sales Tools

    All Marketing activities are closely integrated with the sales process. Marketing does not remove the responsibility from the salesperson for ensuring that their pipeline is full of qualified leads or that they hit the required financial targets.

    Marketing is a resource that can be utilised to increase the efficiency and effectiveness by which they perform their tasks.

    Using sales tools and training effectively can turn sales people into business consultants leading to higher margin sales and more predictable results.

  • Lead

    Integrate Marketing - Lead Generation

    This begins with market segmentation and the creation of a target list based on the product differentiators, the product maturity, the competition and company resources. This will lead to sales territory creation and allocation. Marketing at this stage will also design the message (based on product or business solution differentiators) that is to be used, the vehicles used to carry it and the responsibilities for delivery.

    Marketing will then run campaigns to stimulate interest and generate leads using the messages created. The vehicles may be offline or online (digital). Offline vehicles include Trade Shows, Events (e.g. Seminars/Webinars) PR, Direct Mail & Advertising. Online vehicles include Search (both Organic and Paid) Display Advertsing (on websites relevant to the product), Email, Blogs, Website (main and Product microsite), Social Media.

    Greater efficiency and effectiveness may be gained using an internal sales or telemarketing team for lead conversion or qualification. Qualified leads would then be passed on to the field sales team for development as Opportunities.

  • Market

    Integrate Marketing - Market Coverage

    Deliver Key Messages Efficiently

    Early in the sales process Marketing can deliver messages to the market to stimulate interest to pave the way for sales engagement. During the sale, Marketing can deliver the company message to all of the key players of an opportunity very effectively and efficiently to help reduce concerns on risk.

    The salesperson can get bogged down in the minutiae of a deal and be too busy to deliver messages to key players at key times throughout the sales cycle.

    Key information such as case histories and industry endorsements during the prove stage of the sales cycle can help significantly to reduce risk concerns.

  • Sales

    Integrate Marketing - Sales Tools

    Turn Sales People into Business Consultants

    For some reason Sales Tools can be overlooked but can deliver significant increases in sales efficiency and effectiveness.

    Good sales tools and training can turn ordinary sales people into business consultants as it will give them the knowledge & confidence to work at higher levels in the customer organisation, to ask the right questions to Qualify thoroughly, to understand the value proposition in detail and then give them the ability to control and manage the sale.