How to Beat the Challenges of the Sales Process?
Most business owners and chief sales officers mention that their biggest sales challenge is achieving revenue growth. Though, the lack of sales evolution is the result of other challenges. Even in a slow market condition, there are other challenges that are causing organizations to miss many sales opportunities.
One of the leading sales training and performance improvement firm has recently conducted a survey on over 15,000 sales professionals to find the most pressing issues faced by sales organizations. While discussing the same with sales professionals, five sales cycle categories were identified as key concerning areas:
- Business Generation- finding new prospects
- Negotiation- sustaining profits during negotiations
- Closing Deals- brand positioning while competing values
- Managing Accounts- finding additional methods to add value to a business
- Expanding Relationships- becoming a reliable advisor
Overcoming sales challenges
The requirements of today’s marketplace make it very important for organizations to develop strategies to efficiently and effectively overcome these challenges. Many entrepreneurs associate with sales outsourcing partners to build new strengths and competencies in order to overcome these challenges, without increasing expenses.
Identifying new prospects
Most organizations use outside vendors to provide them with sales leads, however, often these leads are not high-value prospects. Some sales leaders enhance their customer searching efforts by investing in prospect identification and research so that the sales force can focus on engaging the top prospects. This can often be accomplished without increasing the total business expense and almost always results in sales enhancements.
Maintaining profits during negotiations
In a highly competitive market, buyers have more power while making negotiations. One way to balance it out is by having industry experts to provide an organization with competitive intelligence. The expert insights help entrepreneurs to determine whether they need to adjust the offering, modify the price or offer different terms.
Optimizing sales processes
The final challenge involves optimizing the sales process. Some enterprises have an internal sales leader who can lead them through the process of finding ways to improve closing rates with a more effective value proposition. Such leaders also help in implementing new methods to add value and strengthen relationships by becoming a trusted advisor. Other entrepreneurs use a combination of internal and external resources to develop a strategy to overcome these challenges and optimize their sales process.
How big brands try to overcome their biggest sales challenges? How they leverage their internal staff or outsourced team to lead this effort?
Outsourcing sales processes
By outsourcing the sales function, business owners are able to:
- Lower overhead costs
- Deploy a bigger multi-faceted sales team
- Reduce process costs
- Remove fixed payroll
- Increase sales coverage
- Profit from the established relationships