For most businesses the sectors into which they sell have changed over the past five to seven years. The markets have contracted, it is tougher to get prospects to spend money, and competition has intensified over the few remaining opportunities that present themselves. It's relentless. What's the solution?
When I ask sales managers whether their company has a sales process, most say, “Yes, of course.” When I ask them to describe it, few can demonstrate a clear and actionable command of that process. In most cases, salespeople and managers from the same organization will describe vastly difference stages, milestones and steps, indicating that the company has no shared view of the process at all.
Whatever label we choose to hang on our preferred style of selling, there are now considerable implications for sales management. It is my view that for companies to remain competitive now, their sales organization must be able to respond rapidly and positively to the numerous changing tides.
Can One Simple Change that Decreases Patient Death Rate by 47% Work for Sales Too?
To be successful in B2B sales, you need to do a lot of things right. Unfortunately, research shows that few organizations are executing with excellence. We spend too much time on deals that do not close; less than 50% of forecasted deals close at the estimated time for the projected amount; and only a select few sales organizations adopt a sales process that they actually execute in the field.
Last week, a sales executive at a large manufacturing company told me that his phones have stopped ringing. “We have the best products in the world,” he said, “but we’re losing ground.”
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