Sales growth in business-to-business (B2B) business is based on a thorough preparation process that starts from analysing the results of the previous year, the processes that did not work and those that worked remarkably well, the opportunities in the market. and customer buying behaviours.
Sales processes are more efficient when they are based on carefully designed tactics to guide prospects through the various stages of the buying process. Here are the five essential elements that, by their impact on efficiency, lead to increased sales in 2020.
Integrated sales process
Customer relationship management (CRM) platforms are especially useful if they have the right structure to support the efforts of sales representatives and do not create additional administrative pressure that takes their time. Choosing the right CRM system allows the representatives who deal with the business development activity to gather qualifying information efficiently and to carry out the prospecting activities quickly. The CRM platform should help to formalize the way the sales team reaches prospects and turns them into customers. The most important thing is to make sure that the method used is cost effective and effective in obtaining the right type of long term clients.
What qualifies a potential customer? At what point does a potential customer become a prospectus and a prospectus is ready to close the sale? The business development function requires clear processes for qualifying potential clients. Unqualified sending of prospects to the sales team leads to a valuable waste of time. The processes of qualifying the potential clients are those on which the marketing, business development and sales teams require a unitary understanding.
The sales team uses a lot of collateral materials and content to educate prospects and qualify opportunities. Often finding these materials forces sales representatives to waste valuable time searching for those with the right content for each type of prospective customers.
Often, the representatives resort to the use of materials that are less efficient but that fit their general needs. When the company has a central portal for managing these approved materials that are clearly classified for different types of buyers and the different stages of the purchasing process, the business development team has the resources to influence and guide the purchasing decisions.
A central platform that presents real-time sales analytics data in real time helps sales reps know which are the most efficient sales materials related to each type of buyer and for the different stages of the buying process. The marketing team can only optimize targeting programs if they have the data to show them what it takes to succeed. Sales representatives are known for their faulty way of maintaining their databases, and sales team leaders care about sales forecast data (for good reason). On the other hand, well-managed sales teams are remarkably good at providing data. Sales teams are literally “live” in the CRM application all day, and people are encouraged to get good marketing data to make their lives easier.
Collaboration and feedback
Sales development is really the bridge between marketing and sales, and continuous input from both sides is needed for continuous improvement. The most efficient sales development processes contain a built-in feedback mechanism. This allows marketing teams to inform the business development team about specific nuances and challenges related to sales opportunities, while allowing sales teams to provide feedback on the availability of prospects and the ease of converting them.
Whether or not they are defined as such, all firms use business development processes in one form or another. The more carefully developed business development processes and the better trained marketing and sales teams are, the more well-qualified potential customers and more sales will generate. This is why a strategic, data-driven business development plan is extremely useful for consistent efficiency, good conversion rates, and higher returns.