Improving Your Sales

Process

The 4 Key Sales Areas

1. Number of leads

2. Conversion rate

© Business Roadmap P/L 2007

3. Number of transactions

4. $$ per sale

Sales Needs An Internal Focus

• Without a focus on sales business growth

will suffer

• It’s imperative that the sales function gets

managed WITHIN your business

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managed WITHIN your business

• Why?

NOTHING HAPPENS UNTIL

SOMEONE SELLS SOMETHING

What are you Selling?

Don’t sell the product, sell the benefit

• Basically, things sell when they meet a need.

• And people buy for only 2 reasons

• To ease pain, or

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• To ease pain, or

• To gain pleasure or satisfaction

• What do you provide that will help your

customer’s business, improve their lifestyle or

solve a problem?

How Do You Generate

Leads?

• Cold calling

• Direct marketing

• Reactivate old prospects and clients

© Business Roadmap P/L 2007

• Reactivate old prospects and clients

• Proactive referral programme

• Networking

Managing Your Sales “Lifeline”

• It’s important to:• Not let enquiries and leads pile up

• Qualify the enquiries and leads as to their

likelihood to purchase

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likelihood to purchase

• Once you follow-up and qualify a Suspect

“in”, upgrade them to a Prospect

Suspects or Prospects

Qualifying your opportunities helps you

focus on business you can win and not

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waste your time chasing opportunities

you can’t, or are very unlikely to win.

“DARN” Qualification• Desire:

• Does your contact want the products and services youare selling?

• Authority:

• Do they have the authority to make a buying decision or do they need to consult with someone else first?

© Business Roadmap P/L 2007

• Do they have the authority to make a buying decision or do they need to consult with someone else first?

• Resources:

• Determine that the prospect has the necessary budget for your service and you can dedicate what is needed to win

• Need:

• When? In six months? A year? Tomorrow? Only when need meets capability do you have a sale

Tracking Conversion Rates

• Your conversion rate is the difference

between the number of enquiries

received and the number of actual sales

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received and the number of actual sales

made, calculated as a percentage

• Conversion rates can be tracked by

tallying enquiries.

Cross-Selling And Up-Selling

• Cross-selling is selling other items from ‘across’

your product / service range when the customer

makes their initial purchase.

• Up-selling is convincing the customer to purchase

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• Up-selling is convincing the customer to purchase

a bigger item or more of the initial item

• It’s sales tool that increases your average

transaction value

• It’s still customer service, because you’re letting

the customer know about all of their options

Managing Sales Leads

• It’s important to:

• Not let enquiries and leads pile up

• Qualify the enquiries and leads as to their

likelihood to purchase

© Business Roadmap P/L 2007

likelihood to purchase

• Once you follow-up with a lead upgrade them

to a contact

• Update your records regularly as you develop a

history with a customer

Follow Up The Sale With

Service

• Maintain the relationship

• For example, be proactive with complaints:

© Business Roadmap P/L 2007

• For example, be proactive with complaints:

• Acknowledge problems and apologise

• Let clients vent

• Take immediate action

So what impact can

more effective and

efficient sales processes

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efficient sales processes

have on your business?

The Business Model

Leads

Conversion Rate

Customers

x

=

x3.

Example

5000

25%

1,250

10% Increase

5500

27.5%

1,512

Double-Up

10,000

50%

5,000

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Av. Number of Transactions

Average Dollar Sale Price

Total Turnover

Margins

Profit

x

x

=

x

=

3.

4.

2

$500

$1,250,000

15%

$187,500

2.2

$550

$1,830,125

15%

$274,518

4

$1,000

$20,000,000

15%

$3,000,000

Next Steps

• Get smarter

• Get focussed

• Get busy

© Business Roadmap P/L 2007

• Get busy

• Get help

• Get ready to thrive, not just survive

Business Roadmap P/Lwww.businessroadmap.com.au

www.businessroadmap.blogspot.com

© Business Roadmap P/L 2007

www.businessroadmap.blogspot.com

Wayne Moloney +61 (0)409 908 204