Companies and salespeople alike can benefit from the way they conduct their sales processes. The dynamic sales process has proven to be effective for companies and salespeople alike. Even when companies do not hold up their end in the dynamic sales process, sales reps can adapt their own dynamic process to selling.
Understanding The Sales Process
The sales process runs differently from company to company. Some salespeople feel comfortable with the Random Sales Process, which enabled reps to decide on how they wish to conduct their way of selling. This process lacks a set of defined standards and basically lets reps operate on their own. It could be good, but it can also be extremely bad.
The Informal Sales Process is one dictated by a company, but rarely enforced. It has striking similarities to the random sale process. Then there is the Formal Sales Process in which reps are forced to adhere to more rigid guidelines. This process comes with periodic reviews and a clearly defined sales process. However, it may not make for the most enjoyable work environment.
Finally, there is a process that transcends those other three. The Dynamic Sales Process, as defined by CEO Insights, is one in which a company offers constant feedback on the established formal sales process. There is an ongoing need to make modifications to this process based on a variety of changes within the market, competition and economy. It is a constant effort to change, adjust, adapt and overcome.
The dynamic sales process empowers the company, but it also puts power in the hands of its sales reps. It basically sets out a map for sales reps to follow and lends some freedomefor reps to branch out down new avenues of sales. So how does a sales reps flourish through the dynamic sales process?
Develop a Dynamic Sales Playbook
A sales playbook lists the tactics and methods used by a sales team or salesperson. It also provides the roles and responsibilities of a sales team. More often than not, these playbooks just turn into fact books. Most sales playbooks have come to be known as sales process playbooks. The mere name even sounds mundane. But how could one universal playbook work for a variety of companies? The answer is that it cannot.
However, a Dynamic Sales Playbook can change the sales game entirely. It features everything a sales rep needs. That includes sales related content, sales tools, various facts, scorecards and everything involved with the process. It is essentially everything that could be remotely related to a particular deal.
Factors change within every dynamic sales playbook, such as industry, size of the deal and buying cycle of the customer. There is no reason why a sales rep should use the same playbook when trying to close with a small customer as it would when trying to close a big corporation. So many factors change and that needs to be updated accordingly in the playbook. Stages of the particular deal should also be a major component. Differentiating the competition is another important aspect that goes into the construction of a strong dynamic sales playbook.
Sell Your Time
One of the problems with sales reps is they do not spend enough time selling. The term selling is defined as interaction with a potential client whether it be in person, on the phone or via the web. According to the CEO Insights 2015 Sales Performance Optimization Study, sales reps spend and average 35% of their time actually selling while 21% is devoted to generating leads. Moreover, 18% involves post sales management and account management, 14% is devoted to meetings and administrative duties while 12% includes travel and other tasks.
However, 64% of sales reps meeting their quota devoted more than 40% of their time to selling. This simple fact indicates that the most important part of sales is selling.
Sales reps dealing with customers over the phone do not have to push to close on a first, second or even third call. Establishing familiarity shows confidence and also builds a rapport with the customer. It also shows a lack of fear as sales reps display the fact that they unafraid of losing clients, These are all ways to carry out the dynamic sales process.
Dynamic Real-Time Response
A key to flourishing in the dynamic sales process is the ability to respond in real-time to market changes. However, sales reps cannot always rely on upper management. The outline of the dynamic sales process has been put in place for a sales team to flourish. But, as many sales reps can attest to, they are often left to fend for themselves. In these instances, they must be ready.
The use of mobile technology has played a significant part in closing more and more business deals every day. That means sales reps must have the most appropriate resources available. Now that the world has gone mobile, sales reps should have CRM (Customer Relationship Management) capability on their phones. A CRM App makes sure your phone is updated in real-time so every piece of information you need is current. Real-time responses need accurate real-time information.
Every sales rep should also have screen sharing capabilities in case there is the need to make a presentation on the go. Cloud Storage is also a necessity for every sales rep so that all their documents are accessible at any given moment. Sales reps must make sure every tool needed to close is at their disposal.