If you’re a part of any sales team, you might be familiar with the fact that ‘Sales Process’ is the most important thing for your team. More importantly… implementing the sales process smartly & efficiently is important too. The key is to figure out if that’s working well & benefiting your business.
To have a better idea, there are certain parameters you need to give attention to. They also help in optimising your sales process.
Adoption Rate
Are majority of your sales team already following the sales process? If yes, they think it’s valuable to them. Ideally, more than 80% adoption rate is a good signal 🙂
Size of Deals
A strong indicator that sales process is working & yielding results is when your average deal size starts to increase. That’s when you know people care about the value you bring, not what you charge.
Accurate Forecasting
The more your team follows your sales process, the better they get at forecasting sales. If it’s even 50% of what you had predicted, things are going well.
Deal Closures
Just like the increase in avg. deal size… a smart & efficient sales process will also give you more chances at deal closures. Now, who doesn’t love that!
Smooth Sales Cycle
If you feel that prospects/opportunities are going through the pipeline faster than before, it’s because you have a well-oiled sales process. No friction or speedbumps whatsoever. Anything less indicates that you have work to do.
One of the most common mistakes that people commit is to leave everything on the sales team to interpret & define success. Any decision should always be backed by actions or positive behavior. Sole dependence on interpretation will make your forecasting weak on what’s working & what’s not.
Above all, there’s no ideal sales process in this world. It simply doesn’t exist. It’s something that grows with time & becomes better every passing day. Hence you should not hold yourself back from sitting with your sales team & review your sales figures. Regular reviews are always productive!
Let me know your feedback on the important parameters of a sales process. I’d love to read your opinions 🙂
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