An Effective Sales Model
Few years before business-to-business (B2B) markets had there revenues growing faster than their sales and marketing expenses. Today, business is full of complexity and sales are no left out especially B2B sales. The sales models being followed in the companies are becoming more complex and less efficient. This creates criticality for the situation to revisit the sales model in order to make it effective and save on cost thus propel the profit margins.
An effective sales model should be simple but at the same time it should address each and every aspect of sales right from the scratch. Organisations are investing huge amount of money behind those complicated sales model with a hope to be effective but unfortunately they are not. Instead of those pricy models, I would suggest a lucid and simple sales model which gets its genesis from the Project Life Cycle that we all are aware of.
Phase 1: DEFINE
This phase pertains to the “Identification of Target Client”. We need to fix our basis of selection like size, location, industry etc in order to sort the target group.
Phase 2: PLAN
The next phase starts with creation of prospect list and their contacts. This list should be made along the hierarchy of the prospects organisation with everyone’s role clearly mentioned. Also, we should prepare plan for mailing, conversion, response etc along with the cost involvement.
Another important task is market study in order to understand our own USP, the market need, competitor analysis etc. Once we know the market we should prepare a short and crisp sales e-mail.
Phase 3: EXECUTE
At this stage we should initiate our e-mails, calls etc towards the target group. While the work is in progress it is equally important to keep track of cost.
Here we should also try to convert the responses into meetings for further sales pitch like activity. If the meeting proposal is accepted then we need to gather all relevant information related to way of doing business, partners and clients etc about the prospect before we prepare our sales pitch. This will help us to relate to the prospect well and provide a solution that brings more value to them.
Prepare a presentation which is simple, clear and tells the prospect very frankly the benefits that comes with the solution along with your USP.
We also need to make use of our negotiation skills in order to end up with a win-win situation. We need to build trust, long lasting relationship and strong focus on providing that the prospect needs.
Phase 4: CLOSURE
Once we have got a deal fixed by bringing product malleability i.e. designs the product/solution according to the prospect’s need it is time for closure. But here closure should not mean that once you sold you are done because now the customer will actually use your solution which you sold him/her so it is very important to keep a follow up and be in contact with the customer; this will bring you more repeat business and referrals.
The above sales model seems to be very straightforward but believe me it can do magic for your organisation saving your thousands of dollar lost due to the wrong targeted cold calling, bad sales pitch etc. The transition in this new sales model should be equipped with a good sales regime having better infrastructure, financial benefits etc. The model will help to make the sales more predictable and it can be smoothed further if we accompany it with scrum as mentioned in “Sales New Friend-Scrum”. So, let us try to leave the old traditional way of sales and bring better and effective way inn.