OSL Business Challenges

Is your business stand in startup position right now? If yes, then you must know about the different business processes like sales, financing, and so on.
0

Is your business stand in startup position right now? If yes, then you must know about the different business processes like sales, financing, and so on. The sales process is the combination of repeatable steps that a salesperson takes to get the prospective buyer from the early stage of awareness to a closed sale. Normally, the sales process comprised of 5 to 6 steps that include prospecting, preparation, approach, presentation, handling, objections, closing, and follows up.
If you look at this from the simplest perspective, it is a potential customer journey from realizing what your potential buyer needs for a product to make the actual purchase. Therefore, the sale process is the journey for a prospect, simply a roadmap for a salesperson.
Do not confuse the sales process with the sales funnel. Because sales funnel is the visualization of all the active sales interaction and activities between a business and a prospect. Consider it as hypotheses that illustrate the journey of a customer toward a purchase. Whereas, most sales teams are well aware that they need to go through with the same process. Not all businesses standardized sales processes and improve measuring, forecasting, and overall management of sales.
Sales is a numbers game
It is a famous old saying that sales are a number game so let the number talk. So it is better to start looking at numbers. Always choose the defined sales process in business rather than the random sales techniques. Because most successful companies use the predefined process. According to the research report of the Sales management association, ninety percent of all companies that use the appropriate, formal, and predefined process were ranked among the highest in the list.
The studies were done by the TAS group also showed that businesses that execute the sales process outperform companies that do not. Like,
.  The TAS Group, concerning the Dealmaker Index Study, claims that 70% of the companies that follow a structured process in sales are top performers; more than 70% of business predictions were correct for the companies with the formal and guided sales process.
.  A study by Harvard Business Review (HBR) confirmed that businesses with a uniform sales process observe up to a 28% boost in revenue as a contrast to those that do not.
.  In another research, HBR disclosed that fifty percent of high-performing sales companies admit having “closely monitored, severely enforced or robotic” sales processes. In the meantime, 48% of under-performing businesses have absent or casual sales processes.
What did you realize with these sales parameters? When a company follows the standardized sale process, it goes with the performance, revenue, and forecasting accuracy. So it would not be wrong to say that companies can do better if they follow the proper sales management tactics.

 

Post Comments

No Comments on OSL Business Challenges

Post Comment