VantaEDGE FAQ Video Video

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VantaEDGE FAQ Video

What is a sales process? A sales process is a system that provides continuous improvement for you and your sales staff. It is kind of ironic when you think about because every business that you go into, they have some type of quality process for manufacturing, for customer service and things that nature, but less than 25% of all businesses out there actually have a sales process that’s in place. Why is a sales process important? Sales process provides a foundation for any sales organization. For example, without a sales process, how do you have a team if everybody is doing something different or going in a different direction? How can you leverage the strengths and identify those, and also identify areas of improvements? How do you know when you or your sales team need help or support? How do you establish a means of accountability and lastly, how do you have a system that provides detailed measurements for your business? The answer is that you really can’t do any of these without any type of formal sales process. And fortunately, we found there’s two main reasons why companies do not decide to implement a formal sales process. The first one they feel that it’s overwhelming and don’t really know where to start. The second reason is that they feel that having a sales process is going to have constraints for their business. How do you keep the sales process flexible, so it can be beneficial? The key is to keep the process basic and simple. If you come up with a 25 step sales process, not only is, is nobody going to implement and use it. It’s going to put so many constraints on your business. It’s going to be counter productive. However, if you have a sales process that’s basic and simple, and then customizing the process towards your specific business, it’s going to give your sales people the flexibility that they need to conduct themselves in a manner that’s most effective for them to accomplish their goals during each step. The key to that statement is making sure that, the process can be customized to your business, if you try to customize your business or fit your business into a specific process, it’s like having a size ten foot and making it fit into a size eight shoe, it doesn’t work. Can you give an example or explain what this process would look like? The advantage strategic selling program consist of five basic steps, and again, it’s not the number of step, steps that’s significant, it’s what in those steps, where it occurs in those steps. And also making sure that it’s flexible enough for your business. First step is what we call the target step. This is really initial planning phase. The second step would be to connect, which is where we’re trying to establish trust and build rapport with customers. Third step is what we call the evaluate step, and that’s where uncovering customer needs and converting those implied needs into explicit needs. Fourth step, we call the demonstrate step, which is trying to get the customer to verbalize the value which in turn sells themselves. And then of course, our fifth step is the commit step. We do not use the word “close” because we promote long-term relationships. We do not want to close the door or anything. We want to gain commitments. I am giving you an example on how this might work. Let's say that one of your sales person has an extremely, effective, closing ratio. They are able to close 80% the people that they're in front of. However, they have a challenge with building long-term customer relationship. So they have a hard time building on initial trust and rapport with people, and only 20% effective on that. Now if we didn’t have a process, first of all how could we identify that’s a problem? We can’t, the second thing is that, if we’re able to identify that that’s a problem, where will focus our effort on? Will we focus on getting better at closing? Why? There's only 20% opportunity for improvement on this end. However, over here, if there we have an 80% opportunity of increasing our effectiveness, that’s of the most rudimentary and base example of the power of a sales process.

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What is a sales process?

A sales process is a system that provides continuous improvement for you and your sales staff. It is kind of ironic when you think about because every business that you go into, they have some type of quality process for manufacturing, for customer service and things that nature, but less than 25% of all businesses out there actually have a sales process that’s in place.

Why is a sales process important?

Sales process provides a foundation for any sales organization. For example, without a sales process, how do you have a team if everybody is doing something different or going in a different direction? How can you leverage the strengths and identify those, and also identify areas of improvements? How do you know when you or your sales team need help or support? How do you establish a means of accountability and lastly, how do you have a system that provides detailed measurements for your business? The answer is that you really can’t do any of these without any type of formal sales process.

And fortunately, we found there’s two main reasons why companies do not decide to implement a formal sales process. The first one they feel that it’s overwhelming and don’t really know where to start. The second reason is that they feel that having a sales process is going to have constraints for their business.

How do you keep the sales process flexible, so it can be beneficial?

The key is to keep the process basic and simple. If you come up with a 25 step sales process, not only is, is nobody going to implement and use it. It’s going to put so many constraints on your business. It’s going to be counter productive. However, if you have a sales process that’s basic and simple, and then customizing the process towards your specific business, it’s going to give your sales people the flexibility that they need to conduct themselves in a manner that’s most effective for them to accomplish their goals during each step.

The key to that statement is making sure that, the process can be customized to your business, if you try to customize your business or fit your business into a specific process, it’s like having a size ten foot and making it fit into a size eight shoe, it doesn’t work.

Can you give an example or explain what this process would look like?

The advantage strategic selling program consist of five basic steps, and again, it’s not the number of step, steps that’s significant, it’s what in those steps, where it occurs in those steps. And also making sure that it’s flexible enough for your business.

First step is what we call the target step. This is really initial planning phase. The second step would be to connect, which is where we’re trying to establish trust and build rapport with customers. Third step is what we call the evaluate step, and that’s where uncovering customer needs and converting those implied needs into explicit needs. Fourth step, we call the demonstrate step, which is trying to get the customer to verbalize the value which in turn sells themselves. And then of course, our fifth step is the commit step. We do not use the word “close” because we promote long-term relationships. We do not want to close the door or anything. We want to gain commitments.

I am giving you an example on how this might work. Let's say that one of your sales person has an extremely, effective, closing ratio. They are able to close 80% the people that they're in front of. However, they have a challenge with building long-term customer relationship. So they have a hard time building on initial trust and rapport with people, and only 20% effective on that. Now if we didn’t have a process, first of all how could we identify that’s a problem? We can’t, the second thing is that, if we’re able to identify that that’s a problem, where will focus our effort on? Will we focus on getting better at closing? Why? There's only 20% opportunity for improvement on this end. However, over here, if there we have an 80% opportunity of increasing our effectiveness, that’s of the most rudimentary and base example of the power of a sales process.

Transcription by: Scribe4you Transcription Services