1. Start by asking yourself ‘do you have a structured or a-z sales process?’
2. If you answer yes, do you measure performance by individual salespeople?
3. If you have answered yes to (1) above, do you know where the attrition took place within your sales process?
4. If you answer no … do you know an accurate sales conversion ratio? (marketing responses or opportunities to do business v completed sales).
If you still answer no and you want to increase sales, perhaps you should speak with us, it costs nothing to talk and we're happy to share new ideas.
1. One would also need to change the behaviour of salespeople … or change for the better what they say or more to the point ASK and how they ASK questions with potential customers.
2. Any change in the sales process MUST include Human Resources because the sales related job descriptions MUST be changed.
3. If your quest is to increase sales, then you MUST FIRST be able to examine conversion ratios, where the attrition took place in your sales process and profit per sale by leveraging the power of Key Performance Indicators.
4. Your next step is then to ask yourself ‘if I change my sales process, could I improve sales conversion ratios and profit per sale?’ and if this is the case do you know how to could accomplish this? Expert opinion can do this very quickly providing that the appropriate due diligence has taken place.
What if I have answered no to (1) (2) (3) & (4) above?
A. Do nothing (but consider this, ‘if you are not riding the wave of change you might find yourself beneath it.’
B. Call us with your list of questions.
A sales process which we examined was:
1. Meet & greet.
2. Demonstrate the product.
3. Calculate the finance repayments or cash balance.
4. Offer a part exchange price if applicable.
The conversion ratio the Managing Director gave was 30% which turned out to be an exact 13%. after we had measured the exact performance.
The sales process which we reengineered was:
1. A warm and friendly greeting.
2. Immediate interest in the part exchange.
3. Discover the potential customers operational and financial constraints and always sell finance by introducing a detailed customer qualification off the back of asking questions.
4. Only select a product for demonstration which matched the potential customer operational & financial constraints.
5. Increased the product demonstration time by 200% and ask question which related to the qualification to gain affirmation that the product which the sales person selected matched the potential customer requirements.
The conversion ratio immediately increased to 35%.
The sales process was reengineered to: ASK rather than tell, show genuine interest in a part exchange (if applicable) right up front, qualify or discover the customers needs RIGHT FROM THE START, increase the demonstration time, the closing strategy became much, easier especially when the salespeople used our form of words which was radically different from their previous attempts.
To find out more
Contact Harry Le-Moine
01772 426 135 or 07590 279 395 or Email (click here)