How do prospects buy your product or service? Does a single decisionmaker find a product and buy on the spot, or does s/he go through many steps and approvals first? Perhaps there are multiple departments involved in the decision, each with its own needs? A sales process is a defined series of steps you follow as you guide prospects from initial contact to purchase. It begins when you first identify a new prospect: A documented sales process is a flowchart that explains With a documented sales process, you have a powerful tool that enables you to Do you see your company in one of these scenarios?Sales Process
STEP 1 STEP 2 STEP 3 STEP 4 STEP 5 A prospect responds to a campaign & requests information A sales rep calls the prospect to explain your product In-person meeting & product demo Your team submits a proposal Prospect signs an agreement & makes first payment
Ref:http://www.marketingmo.com/strategic-planning/how-to-develop-your-sales-process/Best Case Neutral Case Worst Case You have a well-designed process that measures the number of prospects you have at each stage, how long they stay in each stage, and the revenue your entire pipeline represents. You deliver the right amount of information prospects need at each step, which helps them make decisions more quickly and move to the next stage.You use your sales process to create more successful marketing campaigns because you can predict how many leads will become customers and what those leads will be worth to your company. You may or may not have a defined sales process. You generally follow the same steps to close a customer, but there’s a big variance in the amount of time it takes to close. In fact, even your strongest reps have trouble closing certain types of prospects. Your forecasts are probably all manual and generally accurate, but you wish you had a thorough snapshot to show exactly how many accounts are at a certain stage and what you need to do to close. You don’t have a process or use one that doesn’t match how prospects want to buy.You deliver all of the information about your product but then seem to lose control of the prospect. Some prospects end up buying, but you don’t know why the others don’t.It’s a constant battle to figure out how many real prospects you have and what they’re worth. Your sales team often spends valuable time creating manual reports instead of selling, which further hurts your revenue.
How to develop your sales process
