Traditionally, after gross revenue, tracking win rates is one of the most widely measured metrics in sales. Many studies and research projects focus on tracking win rates as a key performance indicator, and the prevailing vision is "the higher, the better." And any of my clients routinely track win rates, too.
It used to be a joke among a small group of people… The Sales Process Club. I met one of the original members more than a decade ago at an industry conference where we both were speakers. I was sharing some of my early thinking on sales processes and their importance to sales performance, and my newfound friend smiled and said, “Hey, you should join our club.”
In the never-ending search for higher sales performance, many organizations invest in methodologies and process improvements, often without understanding the difference between the two.
It is said that the number of people procrastinating has tripled since the 70s. One thing that is not a secret: Procrastination is a problem for sales teams. Procrastinating prospects lead to stalled sales that never close. Worse, procrastinating salespeople stall out on sales that ought to close. Worst, the problem is often difficult to identify clearly and even harder to remedy.
Despite all the data demonstrating the value of implementing a formal sales process, the vast majority of companies still have not done so. Many others do have a sales process, but it’s located in a folder on a shelf, and rarely consulted.
Sales is the department that drives all the others. Without revenue, there is nothing to ship, install or invoice. So why is it that this important department often is the last one to be systematized?
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