Sales is an essential function of every business. An effective Sales Engine can supercharge the value generated from your products and services. But Sales teams need to be firing on all cylinders to boost revenue and profits against tough competition. In this first article of our series on Sales Force Effectiveness we highlight the key organizational levers to boost performance and increase value.
Six questions will help you determine how much sales growth potential you have:
If you struggled to answer any of these questions, then you have a significant growth opportunity in front of you, and should read on!
Our experience shows that tuning the Sales Engine is not rocket science – if you apply the right tools and methods. In particular, big improvements can be realized through a systematic process addressing the key levers of sales effectiveness, including:
Broaden the sales funnel so that you can handle more opportunities at any given time.
Common areas of improvement:
Increase conversion rates to minimise time wasted on lost opportunities.
Common areas of improvement:
Optimize resources applied to convert each opportunity.
Common areas of improvement:
Target higher value opportunities.
Common areas of improvement:
Accelerate time-to-close in order to free-up Sales capacity.
Common areas of improvement:
The more qualified opportunities generated, the more opportunities you will win.
Common areas of improvement:
Tuning your Sales Engine means finding the weakest parts among the many different factors driving performance, and making targeted adjustments to increase Sales traction. Humatica’s experience shows that this is done best by following a step-by-step approach including:
Future articles in this series will explore each of these five steps in greater detail and highlight why it is important to excel in each step. Relevant case examples that provide key learnings for your sales team will bring the insights to life. Stay tuned!
This article was authored by Paul Simpson, a Director in Humatica’s Zurich office. Connect with Paul on LinkedIn.
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