Your Guide to Building a Sales Process That Closes More Sales

Sales process guide

Sales is the lifeblood of any business, so you can’t afford to wing it. You either optimize your sales process or lose out to brands who do.

As business growth and sales expert, Tiffani Bova puts it: “How you sell matters. What your process is matters. But how your customers feel when they engage with you matters more.”

The sales process isn’t just a series of recurring steps for closing deals. It circles around how you connect with prospects, address customer pain points and make their lives easier.

According to Salesforce, companies that execute a sales playbook enjoy 33% higher revenue.

Without a sales process, you’d end up hiring and firing your sales team without results. But getting it right earns you customer loyalty, consistent sales and business growth.

It’s obviously worth the effort.

If you’re wondering how to build an effective sales process, you’ve come to the right place. In this guide, we’ll show you how to create a sales process that closes more deals.

We’ll also cover the benefits of having a streamlined sales process in place, discuss some eye-opening statistics and present the typical sales process companies use.

Let’s get started.

 

Table of Contents

 

What is a Sales Process?

A sales process is a roadmap for improving the effectiveness of your sales team and driving sales consistently.

It outlines a series of repeatable steps your sales team takes to move early-stage leads or prospects into new customers. Typically, a sales process has about seven steps, including:

  • Preparation and Prospecting
  • Qualification
  • Research
  • Pitch or Presentation
  • Objection handling
  • Closing
  • Nurturing or follow-up

Each of these steps in the selling process may consist of various sales, marketing and business activities.

Having a strong sales process helps teams acquire leads and close deals consistently. Not only does it provide a valuable framework to follow, but sales teams can easily replicate desired performance levels.

 

Sales Process vs. Sales Funnel

Some people tend to confuse these terms to mean the same thing. That’s because the sales process and funnel both describe the flow of leads and prospects through a sale.

However, they have slight differences.

A sales process refers to the necessary steps required to make a sale. It highlights a prospect’s journey from identifying their need to searching for a product to an actual purchase.

While the sales process is a guide or template for a salesperson, it’s an adventure for a prospect.

However, it shouldn’t be confused with a sales funnel. A sales funnel visualizes all the activities and interactions between you and your prospects during sales.

Now, here’s where the thin line is drawn.

Most companies have a standardized roadmap for selling to prospects and existing customers. Since there’s a sequence of events, each sales rep knows what steps to take and when. This standardized sales process makes it super easy for brands to measure, forecast and manage sales.

On the other hand, your sales funnel displays all the active sales opportunities resulting from interaction with prospects. It also shows the various stages of completion of different sales activities.

By evaluating these opportunities, you’re able to forecast expected revenue based on the sales activities in your funnel.

In a nutshell, the sales process details what you’re doing to close sales and bring revenue. But the sales funnel measures the number of prospects, conversion rates and the actual and potential revenue you have in the funnel.

Visme Marketing Strategies Ebook

Download our free ebook filled with actionable strategies that we’ve used to grow Visme to over 4 million users.

Free Download

Visme Marketing Strategies Ebook

 

Why Does Your Sales Team Need a Sales Process?

According to a study by Harvard Business Review, having a winning sales process helps you make more money.

That’s not all. It keeps your business afloat and ensures you stay competitive in your niche. Here are some other reasons why a sales process is important for your business.

Improve Customer Experience and Engagement

A formal sales process guides salespeople to know what to do at every step of the customer buying journey. With a detailed roadmap, they’re unlikely to miss an important step in handling prospects.

Sometimes, sales reps may get confused or drop the deal when prospects have objections. But a sales process ensures your team successfully nudges prospects toward a purchase while meeting their expectations.

Put Sales on Track

Secondly, sales processes help the sales team and everyone else know where a deal stands. At a glance, you can quickly and easily determine how likely it is that you’ll close a sale.

Without a proper sales framework, deals are simply qualified as won or lost. It’s also difficult for companies to identify loopholes or know which specific actions are working. Putting an effective sales process in place lets managers see where and why a deal has stalled and identify ways to put it back on track.

Bring Salespeople Up To Speed

Establishing a standardized sales roadmap could also help amateur sales reps. They can quickly learn what to do at each step during sales and catch up on industry best practices.

For example, if a sales rep has problems prospecting or generating leads, you can put a coaching program in place.

Drive Sales Efficiency

Having a formalized sales process ensures that your company invests more time, effort and money in the activities that generate the most revenue. Without a strategic focus, your marketing team’s lead generation efforts would go down the drain.

For example, sales reps can prioritize leads who are more likely to convert. By focusing on sales-qualified leads, you can close more sales in less time and shorten the overall sales cycle length.

Understand Prospects and Customers Better

A key part of the sales process is prospecting and qualifying your leads. These stages involve researching and gathering more insights about who customers are and what they want. Learning about your prospects will help offer personalized product and service experiences, leading to repeat purchases and customer loyalty.

 

Sales Process Statistics: What the Numbers Say

Still in doubt about the benefits of putting an effective sales process in place? Here’s what the numbers say about having a formal sales process.

According to a study by Vantage Point Performance and Sales Management Association, businesses with standardized sales processes enjoy 15% higher growth than companies that don’t. In addition, mastering their sales process helped these brands achieve a 28% jump in revenue compared to those who don’t.

What’s responsible for this increase in revenue and business growth?

  • They clearly defined their sales process, set milestones and made it easy to understand. As a result, there was an 18% gap in revenue growth between businesses that defined their sales process and those that didn’t.
  • They spent time and resources in managing the sales process. This involves tracking the overall health of your sales pipeline and seeking ways to bring more deals to successful closure.
  • The best part? Companies that spent at least three hours monthly saw 11% more revenue growth than those that spent less than three hours per month.
  • They trained their sales team on various techniques or strategies for managing sales processes effectively. The results? Companies that prioritize training in sales process management grew about 9% faster than companies that didn’t.

In another study by Harvard Business Review, 50% of high-performing sales organizations agree they employ a structured sales process that’s automated, closely monitored and strictly enforced. On the other hand, 48% of under-performing organizations admit they don’t have formal sales processes.

Chart showing companies rating their organizational excellence

Image Source

But, that’s not all.

The TAS Group regarding the Dealmaker Index Study says 70% of companies that stick to a structured sales process are high performers. Plus, over 70% of business forecasts for companies with a defined sales process were accurate.

Bottom line: These numbers show a direct correlation between effective sales process management and strong revenue growth.

What’s more? Brands that adopt and implement sales processes outperform brands that don’t on parameters like:

  • Revenue
  • Forecasting
  • Growth rate
  • Overall business performance

Yet, rather surprisingly, Objective Management Group says a whopping 91% of
companies still don’t have or follow formal or standardized sales processes.

Well, if this is the reality for your brand, we’re here to help you drive in more results. Keep reading to learn how to create a sales process that makes you more money.

 

The 7-Step Sales Process Used By Top Companies

Now you know what a sales process is and why it’s important to create one. But, first, let’s consider the steps that a typical sales process follows.

 

1. Preparation and Prospecting

Preparation

The preparation stage is where you lay the foundation for your sales process.

First, you need to build product knowledge.

Gone are the days when salespeople would refer prospects to the product teams to answer technical or product-related questions. Nowadays, prospects expect the sales teams to know everything about the product.

The benefits? It builds prospects’ confidence in your product and accelerates the sales process.

Put yourself in your customer’s shoes. First, identify their pain points and how it affects them. Then highlight your product benefits and how it directly addresses those problems.

Research your competitors and find how your product stack up to theirs. Then, add this information to your sales playbook and use it to win prospects over.

Here’s how to build solid product knowledge by:

  • Review product demos.
  • Read press releases and documentation.
  • Use the product.
  • Scan the product knowledge base to discover how experienced salespeople solve problems, handle objections, close sales and get repeat business.
  • Spend time with sales experts to learn how they speak to prospects and close deals.
  • Ask product managers to developers questions about product features, functionality, use cases and potential pitfalls.

Be sure to write your notes and internalize anything you learn. But, most importantly, make it simple for your prospects to understand.

Bottom line: Salespeople need to know about their product’s standout features and the pain points they solve for customers. They should also know their unique value proposition, target customers, competitors and industry.

 

Prospecting

Prospecting or lead generation is the process of sourcing prospects (individual or business) for your business.

It involves building a database of leads or prospects. The end goal is to convert these leads to customers.

Not only is it a key part of the sales process, but prospecting is a critical daily and weekly activity for sales representatives.

When it comes to prospecting, it’s vital to know who your ideal customers are.

Why does it matter? Studies show that at least 50% of prospects won’t be an excellent fit for your business.

So how do you find leads that match your ideal customer profile?

  • Create a buyer persona based on the profile of your existing customers and understand why they bought from you. Your buyer persona outlines the communication preferences, demographic and psychographics of your prospects.
  • Talk to your customer success team. They are in touch with customers. So they understand the challenges prospects face and how your product addresses their pain points.

Creating a buyer persona will help you segment your audience and target them better.

If you don’t have access to a buyer persona, research your target market and competitors. Find out the attributes of prospects your competitors are targeting.

To find your ideal prospect, you can:

  • Leverage social media and online communities like Quora, LinkedIn, ZoomInfo
  • Attend sales, conferences or industry events.
  • Ask existing customers or colleagues and industry connections to refer people who may be interested in your product or service.
  • Use Google keywords related to your product or business and find popular sites where prospects comment or participate in forums.
  • Create lead generation campaigns that pull prospects into your sales pipeline. You can take advantage of display, paid search and social media ads.
  • Work with your marketing and advertising teams to create these campaigns. While you’re at it, be sure to target leads that match your buyer persona.

Over 40% of salespeople admit prospecting is the most difficult aspect of the sales process. But following the tips we’ve shared above would make prospecting a breeze.

Use the template below to visualize and optimize your lead generation activities.

Lead Generation Funnel Chart Square Template

 

2. Qualification

This next step of the sales process is in two parts. The first part involves reaching out to leads to collect more information.

And the second part involves verifying if they’re an ideal prospect or not. At this stage, you can also determine if they’re ready to move to the next stage of the sales journey.

Remember, not all prospective customers are created equal. Qualifying prospects will enable you to identify and focus on those that will most likely become customers.

You identify qualified leads over a connect, qualification or discovery call. You could also reach out to leads via email.

The connect or discovery call lets you collect information such as:

  • Audiences needs
  • Budget
  • Expected solution
  • Timeline

During the call or while exchanging emails, be sure to ask questions such as:

  • What is your problem or need?
  • What solutions have you considered in the past?
  • What solutions are you currently evaluating?
  • Why is solving this problem a priority for your business?
  • Do you plan to solve this problem or buy the product soon? If yes, when will this happen?
  • What is your proposed budget for solving this problem?
  • What’s the size of your company?
  • What is your role within the company and who has the authority to sanction the purchase?

According to MarketingSherpa, a whopping 73% of B2B leads are not sales-ready when first contacted. So you need to engage those leads with tact to move them down the sales pipeline.

Remember, these questions should serve as a guide for your conversation rather than very direct queries. Avoid making your connect call sound over-rehearsed or like an interrogation.

Rather focus on flowing within your prospects in a warm and friendly manner. The goal is to draw them in and get as much information as you can.

 

3. Research

You’ve probably narrowed down the database to a list of viable sales-qualified leads. The next step would be to learn more about them or their company.

Researching your prospect gives you a deeper insight into their needs and pain points.

The best part? It helps you tailor your sales pitch or position your product as the best solution to their problems.

Remember, 95% of customers make purchase decisions based on emotion. Therefore, offering a more tailored and personalized experience will trigger your prospects” emotional levers. In addition, it will increase the likelihood of closing a deal.

You can set up a face-to-face meeting or call with your prospect to:

  • Get a holistic view of their business and key objectives
  • Understand what their needs are
  • Tweak your product to meet their needs.

Here are some questions to help guide this discussion:

  • What are your needs or pain points? If it’s a company, find out how these problems have affected productivity, sales or revenue generation. If it’s a consumer product, you want to know how it has impacted day-to-day activities.
  • Have you implemented other solutions? If not, why haven’t you considered other solutions?
  • If you’ve used other solutions that didn’t work, why didn’t it address your pain point?
  • What do you think would be an ideal solution?

Beyond asking questions, there are other ways to supercharge your meeting with prospects.

  • You could offer lead magnets like a demo or a free trial to pique prospects’ interest in your solution.
  • Invite customers to attend a webinar that promotes your product.
  • Share an ebook that tells your brand story and how your solution is addressing a problem in your niche.
  • Share white papers that shed more light on their pain points and drive them to take action.
    Show them testimonials, product reviews or case studies of how your product has helped other clients solve their needs.

During the meeting, maintain a natural and free-flowing conversation with your prospect.

Avoid sounding too salesy. Rather, show the prospects you care about them.

Use the lead magnet template below to get your prospect excited about your offering.

Lead magnet template

 

4. Pitch

Once you get the hang of what your prospect needs, you can pitch your product. Pitching involves a formal demonstration of your solution (product or service) for your prospect.

Before you invest your time preparing your sales presentation, be sure your prospect is a qualified sales lead. You don’t want to waste resources pitching to leads that won’t convert.

Be sure to tailor your presentations to your prospects’ needs or use cases. For example, if you’re pitching a technical solution, you could bring an engineer to answer technical questions about your product.

Bringing technical personnel indicates the level of support they’ll receive from your team. This could also go a long way in boosting prospects’ confidence in your product.

Remember that customers buy products and services to solve a problem or meet a need. So, consciously or unconsciously, they’ll always be asking, “What’s in it for me?”

So while pitching your offering, pay more attention to the benefits. Rather than focus on the features, pay more attention to the benefits. That’s the major reason customers buy products or services.

For example, some ovens have features like smooth stovetops, convection capabilities, self-cleaning, warming bins and more. But benefits like ease of use, safety and affordability could make your buyers pull out their checks.

If you’re looking to drive prospects’ interest in your pitch, utilize visual communication. Incorporating high-quality visual aids like images, videos, charts, graphs and more will make your presentation compelling and attractive.

Best of all, Visme offers tons of visually-appealing templates to make your product pitch successful. You’ll find sales-ready templates for any niche and an extensive library of visual aids and design elements to spice up your presentation.

Use the gorgeous template below to pique customer attention and spark interest in your product or service.

Automobile Product Presentation Template

 

5. Objection Handling

It doesn’t matter how amazing your product is. It’s natural for prospects to have objections or concerns about your solution. These objections could be questions or concerns about:

  • Product quality
  • Product fit
  • Price
  • Warranty
  • Ease of use
  • Technical support and much more

Most unsuccessful salespeople abandon the deal at this stage.

About 44% of salespeople give up after one rejection and 22% after two. About 14% abandon their pursuit of a prospect after three rejections and 12% after four.

The thing is, 80% of sales require at least five follow-ups to convert. Successful sales are often the result of multiple follow-ups with prospects. And the ability to handle objections is what separates novices from experts or excellent salespeople.

Before you pitch your solution, be prepared to handle any objections. You can start by identifying potential questions or concerns and draft answers to address them.

Your sales team should anticipate objections like:

  • Will you offer technical support at no cost?
  • Will your product accommodate our future growth plans?
  • We don’t have the budget for the premium version at the moment. Is there a more budget-friendly version of your product?
  • Your product meets our needs but we are locked into a contract with a competitor.
  • Your competitor is offering more features and technical support at a lower price.
  • We are trying to figure out how your product can help us achieve our business goals.
  • We’re interested in your product but you’ll need to speak to the decision-makers.

By listening to these objections and handling them, you can:

  • Allay any fears your prospect may have.
  • Solidify the prospect’s understanding of your product.
  • Tailor your offerings to meet their needs.
  • Close the deal without issues.

Bottom line: How you handle objections can make or break your sales deal. Be careful not to sound defensive when you hear objections. Instead, pay attention to your prospect’s concerns and ask for more details. Understanding the root of these objections will help you address them properly.

Use the template below to create a professional ebook that enhances clients’ understanding of your solution.

Automobile Product Presentation Template

 

6. Close the Sale

This is every salesperson’s dream. Weeks and months of research, prospecting and pitching have come down to this point.

The closing stage refers to activities or processes that take place as the client prepares to buy your product. And it differs from company to company.

These late-stage activities could be:

  • Submitting a proposal or quote
  • Final negotiations
  • Signing contracts, terms of service and other key documents
  • Securing the buy-in of key decision-makers

Here the goal is to urge the prospects to make the purchase. Depending on your business, you can use any of these closing techniques:

  • Offer extra perks to nudge the prospect to buy. It could be a discount, free service for one month, free trial, money-back guarantee and more.
  • Create a sense of urgency that encourages customers to purchase immediately, such as we have three spots left or the price will go up after this week.
  • Offer payment alternatives like installments, upfront payment, cash or charge.

If the closing stage doesn’t go as planned, nurture the prospect to re-engage them in the future.

Secure the buy-in of key decision-makers using this breathtaking proposal template below.

Software Development - Proposal Template

 

7. Nurture, Continue to Sell or Upsell

If everything goes as planned, your prospect has purchased your product and become a customer.

Congratulations. However, that’s not where your work ends.

You want to monitor the onboarding process or confirm if the customer has received their order. Additionally, continue to communicate with the customer and offer post-sale assistance.

Doing this will:

  • Keep your customer happy and
  • Deepen customer relationships
  • Increase your opportunities for making more money from cross-selling, upsell and referrals

Cynthia Barnes’ formula for nurturing customer relationships says you should:

  • Check in to ensure the customer is satisfied three days after the sale.
  • Check in to see if the customer has any questions, queries or product issues three weeks after the sale.
  • Check in to confirm if the customer is satisfied with the product or service, then ask for a referral three months after the sale.

 

How to Build Your Own Sales Process

Now that you know what the sales process entails, you’d probably want to build yours. Here’s how to map out and increase the impact of your sales process.

 

1. Set Your Goals

Before creating your sales process, you need to determine what you want to achieve. Your sales and overall business goals will determine how you’ll structure your sales process.

For example, let’s say you want to improve your lead generation or prospecting. First, you’ll have to focus your efforts on identifying leads that will be a great fit for your business.

Other key goals could include:

  • Increasing leads to sales qualified leads ratio.
  • Reducing sales cycle length
  • Increasing your opportunity win rates
  • Increasing customer lifetime value and more

What if you have a sales process that isn’t working? In that case, analyze your current sales process. Doing this will uncover what is and isn’t working.

Start by monitoring your sales team as they walk through their daily sales activity. Evaluate the last five to ten deals that fell and identify what went wrong. Then, go ahead and list out what they could have done better.

Optimizing your sales process will help delight more customers and close more sales.

Set realistic goals for your sales process using the template below.

Goal Setting Worksheet Template

 

2. Gather Valuable Intel About Your Ideal Customer

After setting a smart goal, find out who your potential customers are.

Here’s why? If you are a B2C company, your customer profile and sales process will differ from a B2B company.

Start by building customer personas or talking to existing customers. Gathering intel about your ideal customer will help you optimize your sales process to pull in more revenue.

Let’s take Airbnb’s buyer persona, for example. Their customer base is divided into two groups:

  • Service providers: People who rent out their apartments to guests
  • Users: Tourists or travelers searching for accommodations

To improve their sales process, Airbnb would have to interview both customer groups to:

  • Collect demographic and psychographic data
  • Find out what their expectations are

Here’s the thing with creating buyer personas or knowing who clients are. It helps you adjust your product or service to meet their needs. In addition, you’ll be able to identify the channel they use the most and reach them there.

For example, you’ll mostly meet B2B companies during trade shows and conferences. In contrast, if you’re a B2C company, online advertising may work just fine for you.

 

3. Consult Your Sales Team

You can’t get to work on your sales process without bringing your sales team on board.

Why does it matter? Why don’t you create a sales process and slam it on them?

Your salespeople are constantly in touch with the customers. They know what works and what isn’t working. Also, they know the challenges involved in nudging customers to the next step or closing a sale. You could even view your sales cycle from their perspective.

Leverage valuable insight from this meeting to map out a sales process that works.

 

4. Bring Other Teams Onboard

We get it. The sales and marketing team is mostly responsible for driving sales in companies.

Now you’re wondering why you should bring other stakeholders aboard.

Sharing your sales goals and sales process with other teams like IT, product, customer service and more can bring unanticipated insights. In addition, you’ll get all the support you need to increase customer satisfaction and drive more sales.

 

5. Pay Attention to Prospect Actions at Every Step

As you define your sales process, list the actions that nudge a customer to advance to the next stage. Also, take note of actions or reasons why deals stall.

For example, during the presentations, how will the team handle objections? What are the things that will motivate prospects to schedule a face-to-face meeting?

 

6. Examine Exit Criteria for Your Sales Process

Pay close attention to the exit criteria for every step of the process. These criteria should specify which actions a prospect should take in each sales cycle stage before progressing to the next level.

For example, let’s say you have already identified a list of prospects. Your criteria for exiting that stage might be:

  • Scheduling a call to qualify the prospect
  • Researching more about the company or customer needs
  • Scheduling a demo or offering a free trial

Before the prospect moves to the next stage, the sales rep must perform all three activities or more.

Specifically, let’s say you’re at the pitching stage. Your reps might need to share a demo, testimonial, case study to move the prospect to the closing stage.

At the closing stage, your sales reps might need to provide post-sales support to drive repeat sales. It makes sense, right?

Be specific and detailed about the exit criteria. And make sure all of your sales reps have the same information. That way, they’ll feed prospects with correct information to motivate them to buy.

Having a detailed blueprint will make your revenue predictable. However, please don’t take this step for granted as it will become crucial during sales forecasting.

Show how your solution can help prospects achieve their business goals using the template below.

Bit.ly Case Study Template

7. Create Your Sales Process

We’ve explained the steps involved in creating a sales process. And now you have the background details for mapping out your sales process. Then, it’s time to put it to work.

Make sure your sales process is dynamic and aligns with your customer purchase journey. Identify and eliminate potential bottlenecks that could make deals fall through.

Highlight how each step affects your sales team and other stakeholders. Remember to incorporate their feedback and explain what actions they should take.

Use designs that look professional and enhance visual appeal. Stick to tools like Visme that make it super easy to create and share visuals across multiple platforms. The beautiful thing is that you don’t need the help of any designer to make your presentations pop.

List out the steps critical to closing deals and organize them in a structured manner. Then, draft out actions salespeople should take if things don’t go as planned.

Remember to focus on building valuable and long-lasting relationships along the sales process.

Use the flowchart below to visualize your sales process.

Consultation Services Lead Generation - Dichotomous Flowchart Template

 

8. Map Out Customer Purchase Journey

Next, evaluate the purchase journey for your prospects or existing customers. The customer purchase journey is the steps customers take before buying from you.

Mapping the customer journey will help you view your sales process from the customer’s lens.

A customer journey map is a visual storyline of a buyer’s purchase experience and interaction with your brand. It helps you define customer needs, expectations and engagements with your brand.

Read this article to learn how to create a customer journey map.

While designing your sales process, keep your customer persona within reach. This will ensure your sales team remains focused on the customer.

Use the attractive Visme infographic templates below to describe your ideal buyer persona.

Customer Persona - Infographic Template

Write down details of customer interactions, including their pain points and why they need your product or service. And offer a personalized buying experience that triggers more sales, repeat purchases and referrals.

 

9. Implement Your Sales Process and Measure Results

As you work to move leads through your marketing and Sales funnel faster, you’ll have to track your progress and measure success.

Why’s that? You won’t know if you’re hitting your goals until you test and measure the results.

There are a couple of ways to see if your sales process yields desired results.

For example, you can track how many deals you’ve closed successfully over a given period. You may want to calculate how many sales were lost at each stage.

Be sure to keep an eye on metrics such as:

Average Sales Cycle Length

This metric measures how much time an average sales take. It’s the length of time since a salesperson first contacted the prospect to purchase.

To calculate the average sales cycle, divide the total number of days to close the deal by the total number of deals.

Opportunity Win Rate

This metric tracks how many deals you won compared to the total number of opportunities created.

Here’s how to calculate opportunity win rate = (Closed sales/Total number of opportunities) * 100

Leads to Sales Qualified Leads Ratio

This ratio is an indication of your lead quality. It also shows how well your sales team moves prospects through the sales funnel.

Here’s how to calculate the Lead to sales qualified lead (SQL) ratio. Simply divide the number of prospects that resulted in sales by the total number of leads.

Customer Lifetime Value (CLV)

CLV measures how much value you can get a customer over a given period.

Customer lifetime value (CLV) = Lifetime value x Profit margin

Where, Customer Lifetime Value (CLV) = Average value of sale * number of transactions * retention time period

Churn Rate

Churn rate refers to the percentage of customers that stopped using your product or service during a certain period.

You can calculate it by dividing the total number of lost customers by the total number of prospects at the start of the sales cycle.

Pipeline Conversion Rate

It measures the percentage of deals or opportunities that passed one stage of the process to the next stage.

Pipeline conversion rate = (Number of conversions at a specific stage / Total number of prospects that entered the stage) x 100

Other critical metrics you should look for include:

  • The average time leads stay in each step of the sales process
  • Which stage of the sales process takes too long for prospects to exit.
  • The percentage of leads who purchase after seeing your demo.
  • The percentage of prospects who request a demo after a qualification or discovery call

Track the results of your sales process using the visuals below.

Dashboard Statistics Infographic Template

 

The Future of the Sales Process

The sales process has evolved immensely in recent years, thanks to the power of digital technology.

The need for automation and personalized buying experiences backed by data-driven insights has led more brands to rethink their sales process. As a result, brands must leverage new ways to connect with buyers and adapt their sales process to achieve revenue goals.

That’s why many brands are beginning to automate processes in a bid to:

  • Free up time and increase productivity
  • Speed up service delivery
  • Improve sales forecasting, prioritization and decision making.

In the past, AI-powered technology has been deemed somewhat overrated. However, 80% of companies admit AI provides immense value for salespeople. Plus, about 41% of salespeople AI believe it helps them stay informed, connected and productive.

According to Gartner, Inc., by 2025, 75% of B2B sales leaders will supplement their traditional sales playbooks with AI-powered selling solutions.

Sales leaders worldwide are looking to invest in artificial technology (AI) and machine learning (ML) technology. This is largely due to the ubiquity of data and the rapid growth of sales-enhancing technology. With AI, salespeople can analyze data, monitor trends and figure out the best next steps.

 

Build a Sales Process That Accelerates Growth

Undoubtedly, implementing an effective sales process can greatly impact revenue and business performance.

Creating your first sales process may require a lot of time, effort and resources. But putting in all the work now will save your sales teams from losing out on deals.

A winning sales process is never etched in stone. It should remain a work in progress.

You need to revise your sales process regularly and adapt it to the customer’s ever-changing needs and overall business goals. And make sure it reflects market realities and industry dynamics.

If you’re looking to visualize your sales process and bring in more deals, Visme’s content creation tool is intuitive and easy to use. It empowers your sales team to create compelling and branded sales materials with little or no design skills.

Samandishe (samandishe.com)

Leave a Reply