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3-Step Process to Accelerate Sales

Posted by Tom Smith on Mon, Aug, 18, 2014 @ 10:08 AM

process to accelerate sales

 

 

 

 

 

 

 

I just saw a report from Pursway that says 77% of marketers are under pressure to make better use of existing marketing and CRM data?

 

I wonder how many of these companies have a valid, written, well-defined marketing and sales process in place?

 

Following is a three-step process you may want to consider:

 

  1. Generate more leads.
     
  2. Optimize lead flow.
     
  3. Close more deals.

You can plan and execute marketing campaigns that generate demand by doing the following:

  • Capture all leads from all channels: website, search, email, online ads, social ads, social channels, partners, blog posts, events, tradeshows and P.R.

  • Website visitors from organic search, paid search and email response.

  • Web forms from "contact us," free trials, event registration, content download, offers.

  • Inbound calls from yellow pages, search engines, Google maps and word-of-mouth referrals.

  • New leads from organic search, paid search and those captured in your CRM.

  • Use marketing automation to: capture leads and respond automatically; score leads by geography, opportunity size and product of interest; and, assign by lead score, geography and buying stage.

 

Optimize lead flow by creating a closed-loop follow-up process for all leads establishing a lead qualification process to differentiate marketing qualified leads (MQLs) from sales qualified leads (SQLs) and ensure sales reps use the same methodology, as follows:

 

  • Track open leads and set up different views to manage leads by type, size, MQL/SQL, geography, etc.

  • Ensure that all leads are deduped and properly formatted before going into the CRM since this is the source of your 360-degree view of the prospect, and ultimately, the customer.

  • Work the leads with a series of predefined touches. This can be automated with marketing automation software.

  • Establish contact with the prospect keeping track of all touches whether it's lead nurturing MQLs or sales calls on SQLs.

  • Qualify all leads by learning their current situation, their product or service of interest, their timeframe for decision/purchase and whether or not they are a decision maker, influencer or researcher. This is information will help determine whether a lead is an MQL or an SQL.

 

To close more deals, faster, have a single CRM for tracking a prospect's status, deal information, key opportunity milestones and recording all interactions.

 

Analyze the sales pipeline to identify and eliminate bottlenecks by tracking:

 

  • Open opportunities prioritized by lead score.

  • Initial presentation by sales.

  • Objections and questions.

  • Additional presentation(s) by sales.

  • Proposal

  • Negotiation

  • Won/Loss

  • New customer on-boarding process with sales, support and marketing.

 

Keep measuring, testing and discussing what's working and what isn't and refine the process as you get smarter about what does and does not work.

 

KPIs at each step might look like:

  1. Generate more leads = campaign ROI, top search terms, leads by source, lead quality as defined by score

  2. Optimize lead flow = leads by geography, lead conversion percentage, leads converted by month and top-performing sales reps.

  3. Close more deals = top 10 deals each month, month-to-date trends, closed business by month/quarter or year and top-performing sales reps. 

 

Do you have a valid, well-defined, written sales process that works well for your firm?

 

What steps are we missing and how can this be improved upon? 

 

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Tags: accelerate sales, CRM, marketing qualified lead, sales qualified lead, MQL, SQL