What are Your Sales Challenges?
Common Sales Challenges
Getting Appointments with Decision Makers and Key Influencers - in this challenging economy, sales leaders and sales people say a top challenge is getting appointments with good prospects.
Identifying Motivated, Sales-Ready Prospects - unmotivated, status quo prospects can waste precious sales time. Do you have a proven, repeatable way to identify motivated buyers and position yourself as the preferred partner? Ask us about Trigger Event Selling.
Increasing Opportunity Volume: the average sales person competes for less than 10% of all available opportunities because they are not involved when the prospect is ready to buy. For example, in non-enterprise B2B sales, it is common to have 2,000 or more prospects in a territory, and it is hard for a full time salesperson to engage with more than 200 prospects per year. You cannot make enough phone calls to reach all of your prospects and build a relationship with them, so what are you doing to reach the other 90% of your market? Align Sales and Marketing Consider Relationship Marketing Systems or Lead Nurturing to build relationships, awareness, and preference.
Preventing follow up failure: Businesses lose up to 75 % of future "net new" revenue when they don't stay in touch with prospects that are not "qualified" yet. (Here is where sales and marketing often don't communicate about who is responsible for communicating with prospects. Work together to Nurture "not now" prospects instead and grow your pipeline by 300 %.)
Improving your Win Rate: Implement an effective, consistent sales process that shortens the sales cycle, makes new people effective faster, and helps more salespeople win customers
Holding salespeople accountable for doing the activities that produce sales without wasting their time entering data in a CRM system
Reducing discounts to win business; get customer focused, target good customers, develop a compelling value proposition, hire top salespeople, implement a consistent sales process and sell your value to win profitable customers.
Sales Management Challenges
Developing a compelling, customer focused value proposition: discover what is really important to customers and separate your business from the competition on this value
Targeting ideal customers and getting their attention and interest. Combine a Customer Focused Value Proposition with Relationship Marketing to win more customers.
Finding the best lead generation tactics for your ideal customers. What are the best ways to identify possible customers and get them to respond?
Wasting leads and prospects by allowing them to fall through the cracks. The Yankee Group estimates that between 40% and 80% of new business leads are lost, not followed up, or mishandled due to poor company processes. Poor follow up makes marketing both expensive and ineffective. The follow-up challenge requires marketing and sales to work together. Customer Retention, Loyalty, and Profitability Challenges
Losing customers because of over promising, inconsistent communication, or irritating policies. 70% of customers quit because of service related issues. Losing customers prematurely is extremely expensive; a 5% decrease in customer defection can increase profits 25% to 85%
Building relationships and a reputation with customers to earn loyalty, sell more, and generate referrals. Loyal customers are often worth ten times more than average customers, and disloyal customers are often unprofitable. Fulfill your value proposition (produce the results you promise), give customers a good experience working with your company to build an emotional connection, and stay in touch.
Maintaining customer profitability in competitive situations
Missing opportunities to cross sell, up sell, and get repeat business
Generating referrals consistently and systematically with less effort
Implement Sales Best Practices
How to Out Smart, Out Market and Out Sell Your Competition outlines four best practices to help you overcome the most common sales, marketing, and customer profitability challenges. Implement these best practices, and you will outsmart, out market and out sell your competition:
Get Customer Focused
Focus on Relationships, not transactions
Implement Systems and Processes that work