Issue 1
A Poorly Defined Sales Process, which Dilutes Sales Revenues
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● FOUR VITAL COMPONENTS
The trend during the last eight years has been toward technology-based Customer Relationship Management Systems (CRMs). Research done by the Gartner Group (see diagram below) has shown that the benefits a company can realize from any such innovation are dramatically higher when four vital components are in place together: technology (CRMs, for example), a clearly defined sales process, training, and performance-related compensation. Often companies will invest millions of dollars on CRM technology, sales training, and performance-related compensation packages for their salespeople yet forget about defining the sales process. The investment made in other areas cannot be maximized unless there is a process in place to underpin these three factors.
● AN ORGANIZATIONAL CULTURE THAT SUPPORTS A CONSULTATIVE SALES PROCESS
According to Jonathan Ledwidge, Director, Learning & Development, Financial Markets, ABN AMRO Bank, you can’t divorce the competence and performance of the sales force from the competence and performance of the organization as a whole. In a customer-focused organization, everyone is part of the sales process. Which is why in his opinion an organization’s culture should breed collaboration and sharing of knowledge so that every department works openly and efficiently together to support the overall sales process.
● BUILDING A SOLID SALES FOUNDATION
When a consultative sales process has been defined, sold to the sales force, and supported by other departments within an organization, the stage is set for transformational performance improvements. Just like you need to put in a solid foundation when building a house, the sales process is the foundation for future sales success.
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NEXT: Critical Issue 2: Lack of essential skills, which leads to below average performance and consequently below average sales results.
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