How to Stay on Top of Your Sales Game

Posted by Anonymous , 9/4/2007 Tags:StayTopSalesGame

Story Highlights

Introduction The sales process is a pipeline: You feed prospects in on one end, and then write up

Adjust font size:
Desrease font
Enlarge font

Introduction

The sales process is a pipeline: You feed prospects in on one end, and
then write up the orders when they emerge from the other end. Success
depends on funneling the right leads in at the start and then
managing them so they don't get stuck and fail to complete the journey.

Instructions

Difficulty: Moderate

Steps

1

Step One

Select a target market and create a focused list of prospects. Qualify each prospect by determining if they have a real need for your product or service, the budget to purchase it and a timeurgent need for its delivery. Only then should you place the prospect in your active pipeline.
2

Step Two

Establish guidelines as to how quickly you should follow up on leads. Also decide how long you'll allow a prospect to remain in the pipeline. Make a note of the origins of all leads.
3

Step Three

Set specific goals for the number of completed sales and figure the number of prospects needed to meet those goals. The journey from prospect to confirmed sale can be roundabout, so always have a substantial number of leads in the pipeline to protect against sales slumps.
4

Step Four

Distribute the best prospects to your sales force. Mark undistributed leads for future follow-up.
5

Step Five

Measure progress on a regular basis. Track revenue potential, sales calls and closing dates on orders, as well as return on investment from marketing expenditures. Drop prospects from the pipeline if deadlines for specific action items are not met.
6

Step Six

Consider investing in sales-force automation software. The alerts generated by these programs are particularly helpful in keeping both the sales force and management aware of specific problems and opportunities. SalesForce.com, SalesAction Software (salesaction.com) and iCongo.com are among the many programs available.

Overall Tips & Warnings

  • Identify internal champions in your customer organizations-- individuals committed to your products or services who will help you close sales.
  • Track the histories of former customers who are no longer in the pipeline. They may be good targets for new approaches.
  • See 201 Make a Networking Plan.
Comments
Tools: |