Studying wins and losses is a valuable sales and marketing activity that is often overlooked in sales organizations. The best way to improve your win rates, up to 50% according to Gartner, is to align your strategies with your prospect’s buying process, needs, and goals. This can be done through a post-sale interview with the new client or lost prospect, often called a Win/Loss Interview, Report or Analysis.
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In this blog, we're going to cover the 11 most important components to evaluate your sales organization, and identify opportunities to fill any gaps to improve sales results. These below tips have been proven in over 300 SRi engagements, they work.
Paint-the-Picture® How You Sell relates to your sales process, and the critical elements every sales organization should be looking at as they evaluate their sales process. In this blog, we do not cover mapping your sales process to your prospect's buying process, but you can find that in this post.
Do your sales reps know what you sell? Like, REALLY know what you sell?
Even more importantly, do your prospects understand what you sell within 30 seconds of the rep beginning to explain it?
These may seem like incredibly basic questions, but more often than you would believe, salespeople are not able to effectively explain such a basic component of their role of a seller.
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In order to sell a product, you need to understand the people that it is aimed at. Knowing who they are and what makes them tick can help you to target your sales pitch at them.
You should know what types of people are likely to buy your product or solution, what motivation they might have for buying it and why your product is important to them.
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