The following are crucial practices Related to Sales Funnel Management, if any company is to thrive:
Clearly define your sales process
Research conducted by Harvard university showed that organisations with clearly defined sales processes or said differently a clearly defined process around “HOW” their sales team members need to operate to sell effectively, achieved an additional 18 % in sales per annum. Organisations with a credible, formalised sales process were at a huge advantage over those without a clearly defined sales process.
A clearly defined sales process clearly defines the following:
Clearly defined stages or milestones, which need to be achieved
These stages need to be universally understood by all sales professionals in the organisation
These stages need to be crystal clear and the sales professionals need to know what they need to do to move each deal, from one stage to the next.
Your sales process should also align with how your future customers are moved through the buying process.
Your sales process must be designed for your specific organisation and the markets you serve. A generic process will deliver poor sales results.
Invest the time to develop a relevant, meaningful sales process and you will equip your sales team with the tools they need to succeed.
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