Sales Processes & Why They Really Matter

Currently, the average sales organization is only closing about 49% of their sales. There are many reasons for this, some of which are organization specific, but two common reasons are:

1. 40% of companies don’t have a clearly defined sales process. Without this, or mapped out steps and timelines, there is no way to accurately predict and manage your business.
2. The forecasts, in many cases, are left up to the individual sales rep who are then required to provide their subjectivity on whether a sale will close or not. We recommend shifting more towards a behavioural based forecast, meaning you base the sale on the specific steps that must be taken to land it and less on the sales rep’s retelling of the events.

Another thing many sales organizations aren’t doing is seeing the significance in both the sales and buying behaviours; you must map these together when creating your processes. The buyer will have certain things they need validated along the way, and those should quickly become a part of your sales process. As you architect your sales process, you will begin to see how and why these two behaviours need to work together.

For salespeople wanting to improve we have three tips:

1. Be one of the 60% of companies who have a clearly defined sales process.
2. Understand where you are: What is your win rate, what is your average sales cycle, what is your average deal size? When you surface with these key questions, you can then determine the challenges and work with managers on solutions.
3. You have to have a plan: Once you have your road map (sales process) defined you must figure out how to move along it. Whether that looks like bringing in sales consultants and account planners or implementing revised training, you need a clear path to solve the challenges that have been raised.