Improving Your Sales Process Abridged

Improving Your Sales

Process

The 4 Key Sales Areas

1. Number of leads

2. Conversion rate

© Business Roadmap P/L 2007

3. Number of transactions

4. $$ per sale

Sales Needs An Internal Focus

• Without a focus on sales business growth

will suffer

• It’s imperative that the sales function gets

managed WITHIN your business


managed WITHIN your business

• Why?

NOTHING HAPPENS UNTIL

SOMEONE SELLS SOMETHING

What are you Selling?

Don’t sell the product, sell the benefit

• Basically, things sell when they meet a need.

• And people buy for only 2 reasons

• To ease pain, or


• To ease pain, or

• To gain pleasure or satisfaction

• What do you provide that will help your

customer’s business, improve their lifestyle or

solve a problem?

How Do You Generate

Leads?

• Cold calling

• Direct marketing

• Reactivate old prospects and clients


• Reactivate old prospects and clients

• Proactive referral programme

• Networking

Managing Your Sales “Lifeline”

• It’s important to:• Not let enquiries and leads pile up

• Qualify the enquiries and leads as to their

likelihood to purchase



• Once you follow-up and qualify a Suspect

“in”, upgrade them to a Prospect

Suspects or Prospects

Qualifying your opportunities helps you

focus on business you can win and not


waste your time chasing opportunities

you can’t, or are very unlikely to win.

“DARN” Qualification• Desire:

• Does your contact want the products and services youare selling?

• Authority:

• Do they have the authority to make a buying decision or do they need to consult with someone else first?


• Do they have the authority to make a buying decision or do they need to consult with someone else first?

• Resources:

• Determine that the prospect has the necessary budget for your service and you can dedicate what is needed to win

• Need:

• When? In six months? A year? Tomorrow? Only when need meets capability do you have a sale

Tracking Conversion Rates

• Your conversion rate is the difference

between the number of enquiries

received and the number of actual sales


received and the number of actual sales

made, calculated as a percentage

• Conversion rates can be tracked by

tallying enquiries.

Cross-Selling And Up-Selling

• Cross-selling is selling other items from ‘across’

your product / service range when the customer

makes their initial purchase.

• Up-selling is convincing the customer to purchase


• Up-selling is convincing the customer to purchase

a bigger item or more of the initial item

• It’s sales tool that increases your average

transaction value

• It’s still customer service, because you’re letting

the customer know about all of their options

Managing Sales Leads

• It’s important to:

• Not let enquiries and leads pile up

• Qualify the enquiries and leads as to their




• Once you follow-up with a lead upgrade them

to a contact

• Update your records regularly as you develop a

history with a customer

Follow Up The Sale With

Service

• Maintain the relationship

• For example, be proactive with complaints:


• For example, be proactive with complaints:

• Acknowledge problems and apologise

• Let clients vent

• Take immediate action

So what impact can

more effective and

efficient sales processes


efficient sales processes

have on your business?

The Business Model

Leads

Conversion Rate

Customers

x

=

x3.

Example

5000

25%

1,250

10% Increase

5500

27.5%

1,512

Double-Up

10,000

50%

5,000


Av. Number of Transactions

Average Dollar Sale Price

Total Turnover

Margins

Profit

x

x

=

x

=

3.

4.

2

$500

$1,250,000

15%

$187,500

2.2

$550

$1,830,125

15%

$274,518

4

$1,000

$20,000,000

15%

$3,000,000

Next Steps

• Get smarter

• Get focussed

• Get busy


• Get busy

• Get help

• Get ready to thrive, not just survive

Business Roadmap P/Lwww.businessroadmap.com.au

www.businessroadmap.blogspot.com


www.businessroadmap.blogspot.com

Wayne Moloney +61 (0)409 908 204