Sales success requires a Sales Strategy and Sales strategy requires implementation. A gap in either would bring down the outcome. In this post am sharing three principal lighthouses that Sales Leaders follow to hit sales targets. The three Lighthouse principles are
- SALES PROCESS: Research reveals that sales team that follow sales process are “most likely to win sales deals;” “shorten the sales cycle” and “generate 2x times the amount of sales revenue per head.” Source SBI. Now the question is do you have a sales process and if yes; is it customised to your business? Sales process also helps you .
- To make a near accurate sales projection
- Speak a common language
- To identify the bottleneck if any
- To train sales people faster and with precision
- As an analogy of benefits from process – back in 1913, Henry Ford introduced the first moving assembly line for the mass production of an automobile. The assembly (Process) line reduced time to build a car from more than 12 hours to two hours and 30 minutes. As a consequence, he was able to increase daily wages and also retain the workforce.
- SALES COACHING: There is nothing constant but change and in the Digital world customers habits are changing on periodicity so must sales process. Hence hire sales people who are coachable, who can Learn, Unlearn and Relearn. Coach your sales team periodically and measure progress. Here I would like to make a reference to a research done many years back. The Hawthorne Works had commissioned a study to see if their workers would become more productive in higher or lower levels of light. The workers’ productivity seemed to improve when changes were made, and slumped when the study ended. It was suggested that the productivity gain occurred as a result of the motivational effect on the workers of the interest (Coaching) being shown in them.
- SALES TRAINING TO USE THE PRODUCT: Set aside private time to train sales team to use the product. Product training helps
- Better qualify the prospect
- Reduces dependency on pre-sales
- Enhances confident customer communications and boost enthusiasm
- Sell benefits and not features
- Answer Objections
Sales leaders continuously invest in the Sales process, coaching and Product training because they understand that
when competition increases, the sales team becomes your completive strength.