During times of uncertainty or high inflation, companies that stay agile and innovative can thrive, while those that take a “wait and see” approach risk losing ground and momentum. Many CEOs and business owners today are recognizing a hard truth: they may need to rethink their sales strategy to stay competitive.
Here are four foundational steps to strengthen your sales process:
- Hire the Right People by developing the best profile for success.
- Train Them Thoroughly in prospecting, presenting, closing, and essential product, market, and business knowledge.
- Gather the Right Data to evaluate sales funnel inputs, yields, and outputs through reliable reporting.
- Provide Meaningful Feedback and development support to improve performance and ensure a win-win outcome. A successful sales manager represents senior leadership to the sales team—and vice versa—ensuring both sides succeed. Managing sales isn’t rocket science. It’s consistent hard work, guided by a straightforward process that drives performance improvement over time.
Sales involves actively presenting your offerings to prospects and existing customers and securing profitable orders. It is best managed and maximized through strategic efforts that encourage creativity and exploration of new approaches to reach the right people. This is a great time to work on your business, not just in it. Now may be the perfect opportunity to take a hard look at your current sales infrastructure and identify gaps in process, strategy, training, or leadership.
Sales Process and Strategy Q&A
What lessons can you apply today in this vital—but often under-managed—area of business?
- Describe your company’s sales management process. How many essential elements have you established? What gaps exist? Do you know what it costs to have a salesperson in the field and what monthly gross profit they must deliver to justify their role and contribute to profitability? Are all team members performing at this level? Do your performance management and compensation systems reflect this?
- Using a baseball analogy: Does your process emphasize getting as many “at bats” as possible and maximizing “base hits,” or does it rely on the occasional “home run”? How do your lead generation and conversion rates compare with top competitors in your niche? How do you know? What steps can you take to identify and fix weaknesses? What causes performance variation between your top and bottom salespeople, and how can you help them learn from each other?
- How disciplined is your approach to collecting and analyzing real-time sales data? Does it allow you to engage in exceptional or challenging cases to maximize results? Is the data used positively to drive execution, or is it seen as outdated and disconnected from compensation and performance improvement?
- Do you proactively set high expectations and keep the excitement alive like the best sales-oriented companies do? Think frequent events, visible contests, celebrations of success, and performance-based pay.
- Is your company viewed as a great training ground and career opportunity for sales associates in your industry? If not, why?
Organizations that take time to understand their competitors, build a sustainable sales infrastructure, invest in training, and align quotas with goals are far more likely to succeed—regardless of the business climate.
Each month, C12 gathers thousands of Christian CEOs and business owners in Business Forums across the globe. These leaders help each other make better decisions, avoid costly mistakes, create solid plans for growth, and thrive in their calling to create impact beyond the bottom line.
To learn more or find a local C12 Forum near you, contact us https://c12neohio.com/contact/
David Beasley
Principal Chair
