How to build a basic sales process
If you’re starting a new small business or looking to improve your sales process and boost your sales in 2021, you’ve come to the right place. As professional boutique business consultants, we at Vollardian can empower you with industry insights that will put you ahead of your competitors. In this article, we’ll show you how to build a basic sales process to boost your sales and your bottom line.
What is a Sales Process?
Essentially, a sales process is a template or plan for achieving your sales goals. A sales process empowers your sales reps to achieve these goals consistently over time, too. The sales process is a series of steps that your sales reps can take, again and again, to close deals and convert leads into loyal customers.
There are several activities in the sales process, and each of them should have certain characteristics to ensure they will be profitable.
Characteristics of a Sales Process
A successful sales process has several telltale characteristics. To build a sales process that will serve you well, you should keep these characteristics in mind:
Strong Customer Focus: The modern customer is savvy and has a wealth of options available to them. Your sales process must be attentive to their needs, wants, and feedback.
Clear Definitions: Every step of the sales process must be clearly defined so that sales reps and all other stakeholders understand exactly how to implement them.
Strong Goals: Your sales process should be geared towards specific outcomes, like increasing revenue, reducing waste in your processes, etc.
Measurability: Successful goals and, by extension, successful sales processes are measurable. You need to have a system that helps you measure whether you’re meeting your goals and to what extent.
Flexibility: A successful business is one that can respond to change quickly and effectively.
7 Steps to Build a Basic Sales Process
Now that you know the best characteristics of a successful sales process, let’s go through how to build a basic sales process. There are seven steps in a basic sales process, and combining these with the characteristics above will lead you to success.
Step One: Research and Preparation
Firstly, your sales reps need to develop their knowledge of your product, industry, target market, and the unique “x-factor” of your product. Understanding your product well is key to selling its value to prospective customers.
Researching your competitors goes hand in hand with this; understanding your competitor's product helps you define the unique value of your own. What makes your product unique and special? Why should customers choose your product?
Step Two: Prospecting
You can find potential customers in your customer relationship management database, social media, and industry events like conventions and expos.
Compose an ideal customer profile and have your sales and marketing reps agree on this profile. Potential clients can be screened according to this requirement and that, in turn, focuses your time and money on high-value leads.
Step Three: Assess Customer Needs
A successful sales process is all about tailoring your offering to suit your customers’ needs. A potential customer that needs what you’re selling will respond better to a customised solution. Set your small business apart from others by listening actively, being empathetic, and building trust with your customers.
Step Four: Pitching
From your research and preparation, you’ll be able to express the unique value your product brings to your customers’ lives. Find ways to articulate how your product's features correspond to your customer's needs and wants.
While you’re selling this pitch, remember to focus on your customer, as discussed. Try to play the role of their advisor rather than their sales rep. A relationship built on trust and attentiveness is more profitable in the long run.
Step Five: Handling Objections
Objections are not uncommon in the sales process. Any robust salesperson knows how to take everything as it comes and move through, or past, objections with grace. Handling objections is all about being empathetic to what your prospect is saying, and not taking anything too personally. Their feedback is very valuable for developing your sales process or the product itself.
Step Six: Closing Sales
This part of the sales process finalises the sale and, hopefully, boosts the business's bottom line. This may include sending a quote or proposal to your customer detailing the customised solution you’ve pitched to them. This step may involve negotiation, too.
Step Seven: Follow-Ups
Closing a sale is not the final step in the sales process. Engaging with a customer even after a successful sale is key to maintaining the trust and setting up a long-lasting relationship.
Ask your customer for feedback on their experience with your brand, as this helps you shape your business going forward. Continue to engage with your customer by updating them about new products, and asking for referrals to new customers.
And that, dear reader, is how to build a basic sales process. There may be additional steps that suit your business, but with the above basics in mind, you’ll be able to develop your sales process and measure your success along the way.
For more helpful sales and business insights, take a look at the Vollardian blog page. Alternatively, you can contact us to discuss your small business needs and how we can help you streamline your processes.