Total number of open opportunities

Open Opportunities

Total number of open opportunities

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.