With conversion rates under pressure from increased competition, lengthening sales cycles and increasingly demanding buyer sales effectiveness is the new mantra for sales managers across the globe.
The focus on sales effectiveness recognises the need for greater visibility, predictability and control in respect of sales.
Sales Effectiveness brings the notion of continuous improvement to all aspects of sales and sales led marketing. The best results are achieved by focusing on the identification of a variety of modest improvements across the organisation and throughout the sales cycle.
Although the approach is incremental the results can be extraordinary. Typically a 3% increase in conversion rates at each stage of the sales cycle can double the rate of sales growth.
Rather than looking at win rates overall, managers are looking for improvements at each stage of the sales cycle; leads, meetings, cycles, orders and repeat orders.
Increasingly managers are viewing sales and marketing as the revenue generating engine of their business. This results in a more engineering-led approach to sales, with greater emphasis on metrics, systems and conversion rates.
This approach also enables managers to look behind such general problems as ‘not enough leads’ or ‘low conversion rates’ to identify specific opportunities to accelerate sales growth in their business.
The drive for increased sales effectiveness necessitates an approach to sales that is planned, structured and systematic.
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