Catapulting Your Sales with Sales Process Optimization
Remember that famous Alec Baldwin line on the ABCs of sales from the movie Glengarry Glen Ross, “Always be closing?” You are building relationships, qualifying your leads, and making a sale. That means you’re winning the sales game, right? Well, yes, but could you be doing more of it? Your sales process should be a living, breathing, dynamic part of your business operations. It’s not something you should establish and repeat forever. Your customers change, their needs evolve, and the world around you transforms, and you have to keep advancing with them. You must keep evaluating your sales process and look for ways to improve it. You have to be proactive with sales process optimization.
What is Sales Process Optimization?
Sales process optimization is the practice of analyzing your data, reviewing customer interactions, and seeking improvement to maximize your sales. It helps to guide your team so they can sell effectively and optimize each touch point they have with potential and existing customers.
How Can You Optimize Your Sales Processes?
Sales process optimization can feel intimidating, but really, it’s all about taking a closer look at what you are already doing, and doing more of what works, less of what doesn’t, and making sure you are using the data you already have most effectively.
Here are some more specific strategies to help you do it:
Set long-term goals. It’s easy to focus on short-term objectives like meeting monthly quotas, but you can also get lost in them and limit your progress. Craft SMART (strategic, measurable, attainable, realistic, and timebound) long-term goals.
Establish your perfect customer. Build a profile of your ideal customer so you know who you are looking for. Note their motivations, purchase triggers, likes and dislikes, buying patterns, and what usually prevents them from saying yes.
Watch your pipeline. Keep an eye on your pipeline so you can make sure you have enough prospects in it, but also don’t have any leaks, holes, or bottlenecks. Are any of your customers churning? Is the sales cycle too long? Monitor and be ready to troubleshoot as needed.
Support your teams. Offer training and sales enablement education opportunities to build their potential. This also means aligning your sales and marketing teams. Even though they want the same things, they don’t always work together effectively. Their cooperation is essential in sales process optimization. Build a team mentality based on sharing strategy, information, funnels, and accountability.
Track and analyze your data. Your team is gathering information all the time. Don’t miss the opportunity to use it to your advantage in sales cycle optimization. Tracking your data accurately helps your team know where they are and monitor how close they are to where they are going.
Automate, automate, automate. The best way to ensure your data is accurate while reducing the burden on your sales team to manually enter it is to automate as much of your process as possible. Using sales optimization tools like a Customer Relationship Manager (CRM) such as Salesforce, helps optimization by enabling you to capture your sales activity automatically and generate reports, freeing up your team to concentrate on selling.
Monitor and improve. Just like your process, your sales process optimization shouldn’t be a “fix and forget” kind of thing. You must keep revisiting your efforts to ensure they are giving you the results you want. You also want to be on the lookout for ways to simplify and make it scalable. But avoid change for change’s sake.
Sales process optimization is a journey, not a destination. In fact, we think it should actually be the ABOs of sales – Always Be Optimizing. And we’re here for the ride. At Paradigm, we’ll help you radically enhance your business infrastructure, improve data analysis, and support profitable decision-making with workflow services and solutions that streamline processes, facilitate communication, ensure uniform deliverables, and integrate technology across your organization. From sales process optimization and marketing to finance, operations, and more, we’ll partner with you to create systems and processes that align with your strategic objectives and revenue goals. Our team of workflow strategy experts know how to build processes that result in tangible, measurable outputs—and we will do that for you. Contact us today to get started.