If you’ve been following me for long, you may think this article is going to be about how your department needs to formalize a single sales process for everyone to follow. You would be wrong. In fact, every sales department needs at least two sales processes - and maybe more.
Not long ago, I spoke with a frustrated CEO. His company was doing OK, but somehow not meeting his expectations.
I took the time to review some of the more stunning industry data from the past year. For instance, even as sales effectiveness continues to decline, 92.5% of firms raised their revenue targets for 2016. It remains to be seen how many of them achieved those targets, but if the trend of nine years holds, it’s unlikely to be an encouraging number.
The science says that companies that add a formal, customized sales process and hold their salespeople accountable to following that sales process will increase their revenue by an average of almost 20%. More on that in a moment, but first, let’s talk shoes.
A few weeks ago, my workout trainer suggested that I start hanging from a bar five minutes every day - a “passive” exercise. This would straighten my spine, strengthen my grip and provide some additional health benefits. I listened with every intention of doing exactly as he suggested, but when it came down to it, I didn’t actually do it.
If my recent experience is anything to go by, sales playbooks have overtaken sales analytics as 2017's "must do" sales performance improvement initiative. It's not hard to see why.
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