How Standardizing Your Sales Process Boosts Overall Conversion

By Jennifer Allan April 16, 2024 15 mins read 90 Views

Let’s face it—it does no good to build a funnel and spend zero time optimizing for conversion. That’s a no-brainer, right?

But, how many of you are working closely with your head of sales to ensure that the opportunities you help generate actually convert into paying clients? Ultimately, if you want to be seen as a successful marketer, you’re going to have to show that marketing is driving sales.

Now, the challenge is that in today’s commoditized world, sales teams often struggle to stand out from the crowd. As a result, closed won rates plummet, and organizations find it challenging to demonstrate to prospects how their total value proposition is the clear winner against all of the other competitors.

To make matters worse, many organizations rely on “super hero” sales people or even the founder to close deals. This approach is not sustainable or scalable. You can’t build a successful sales team if you’re constantly relying on a select few individuals to bring in all of the business.

The solution to this problem is a sales process that follows a standardized approach while also creating clear differentiation with prospects at the same time. By implementing a systematic sales process, you can scale your sales efforts beyond just the founders and “super heroes.” This will lead to higher closed won rates and higher gross profit margins, as you’ll be able to win at premium prices.

The benefits of a systematic sales process are clear. You’ll be able to scale the process beyond founders and “super heroes,” achieve higher closed won rates, and enjoy higher gross profit margins as you’re now able to win at premium prices.

When I implemented a systematic sales process in my former agency, I was able to consistently have 60-70% closed won rates, even when I had zero involvement in deals. This is the power of a well-designed sales process. In fact, I standardized this process and called it the Systematic Sales Process

.

So, what does a Systematic Sales Process

look like? Here are the five stages:

Stage 1: Evaluation

In this stage, you’ll have a 30-45 minute call with your prospect. The goal of this call is to point your prospect in the right direction—it’s not to “make a sale.” The reason we want to take this approach is that many prospects are likely not a good fit for your firm, so let’s not assume that every first call is an “opportunity.” That’s why we call this call the “Evaluation”—you want to evaluate whether or not you can help your prospect, whether or not they align with your requirements, and whether or not they are ready to move forward. We call this “two-way qualification.”

It’s not uncommon to reach the middle-to-end of the call and determine that your prospect, in fact, needs someone or something else other than you!

IMPORTANT: You should NOT move anyone beyond this point unless you have full alignment.

Do this stage right and you will ensure that your pipeline is real.

Stage 2: Discovery

After you have alignment with your prospect from the Evaluation call, you’ll engage them and their team in a 60-120 minute Discovery meeting.

The key in this meeting is to have a strong business conversation and less of a tactical conversation related to what you do. You’re looking to create paradigm shifts with key stakeholders on your prospect’s side. You want them to leave the meeting thinking about their problem in a completely different way and with a sense of excitement about the potential of moving from where they are now to where they want to be.

IMPORTANT: You want to ensure critical stakeholders are present for this meeting, as they’ve agreed-to in the Evaluation call (this is non-negotiable), to whatever degree you require for your process.

Do this stage right and you will sub-consciously win the business.

Stage 3: Plan

In this stage, you’ll collaborate with your main point of contact to develop your plan. That said, be a leader and show them what needs to be done to achieve their desired outcome, then discuss how you can divide and conquer together. Don’t treat this as a “pick from a menu” excercise.

This collaborative approach to developing your plan helps your main point of contact see your plan as their plan, too. This increases the odds that they will be a champion for you.

IMPORTANT: During these dicsussions, be sure to have them help you avoid “land mines”—things that could lose the business for you.

Do this stage right and you will eliminate surprises at the next stage (Presentation).

Stage 4: Presentation

You’re now ready to present and officially win the business during a 60-90 minute meeting. That siad, do not call your plan a “Proposal”! Instead, give it a specific title that speaks to their goals (e.g. “How ACME Corp Can Drive 17% More Revenue Through Conversion Rate Optimization”).

Your presentation should tell a “story” that includes:

Their Vision
Their Goals & Objectives
Their Challenges
How to Win (Strategy)
Highlights (Tactics)
Required Commitments (Their time, money, and resources to make this plan a success)
Expected Results (ROI!)
Why Your Firm

After you present, answer any questions they have and when their questions are done, ASK FOR THE SALE.

Do this stage right and you will differentiate your firm.

Stage 5: Negotiation

Finally, you’re ready to provde the contract and negotiate, but don’t give this until they’ve given you the “verbal” that you have won the business. The reason you do this is to make sure that you’ve wont the business based on the material things before the prospect starts nit-picking your contract scope. That said, be clear about what you will do and what you won’t do.

Additionally, your standard terms and conditions will accompnay the scope. You want to know up-front the terms and conditions you will bend on and the ones you won’t bend on. You don’t want to make a decision about an important term and/or condition during the emotion of trying to ink a deal. Knowing up-front your points of negotiation will help you make logical decisions in the heat of the moment.

Do this stage right and you will set up your team for success.If you’d like to learn more about how to grow your firm using a Systematic Sales Process

, register for Frank’s free Systematic Sales Process

training today!

[TAG8]

The post How Standardizing Your Sales Process Boosts Overall Conversion appeared first on DigitalMarketer.

Frequently Asked Questions

What are the advantages of an entrepreneurial mindset?

Entrepreneurship has many advantages. The first is your ability to be self-reliant. You stop relying on other people.

You will be able to work for yourself and follow your dreams. It helps you make connections with other entrepreneurs who share similar interests and challenges.

You gain confidence. You learn new things as an entrepreneur. This gives you the ability to adapt quickly and be flexible. You won't be stuck in a rut if you think outside the box.

Everybody can start their business without being bound by any rules or regulations. We're free to decide what we want to do and how we want to live.

You can choose to either follow the crowd or be against it. We can choose to be successful or not. You can choose to win or fail.

It is exhilarating. This freedom comes with a lot of responsibility. Because once you step into this role, you're accountable for everything that happens within your business.

Learning to manage risk is key to success. Don't be afraid trying new things. If you are willing and able to learn from your failures, you will eventually reach your goals.

These lessons will help you to stay on the right track when you embark on your journey.

Remember:

Entrepreneurship can be a lifestyle choice.
You are the boss when you own your business.
Be careful of following fashion trends.
You don't measure success in money. It is in freedom.
Balance your personal and professional life.
Set clear expectations.
Always be sincere with your team.
Be persistent if it's your desire for something to happen.

What are the motivations of an entrepreneur

Entrepreneurs' three greatest motivations are freedom and money.

Freedom means freedom. It is having the freedom to do what and when you want. This is why entrepreneurs are born when our current jobs or lives make it difficult.
Because we cannot start a business without money, it is equally important that we have enough money. We can survive without food, water, and shelter, but not without money.
But the third motivation is knowledge. Entrepreneurship is a constant learning process. We often read books, attend seminars and take online courses to learn how to make products and services.

This is what drives us to succeed and achieve goals. It gives us meaning and purpose.

These three things are the reasons why we became entrepreneurs in the first place. These are the driving forces that keep us going every day.

If we don't have these three things, we may pack up our bags and head home. If we don't have these three things, we won't ever be truly happy.

What are the different motivations for entrepreneurs?

There are three major types of motivation that entrepreneurs can use. Each type has its own set of strengths and weaknesses.

External motivation is the most common. It's where someone wants to make more money. This motivation comes from financial concerns.

Motivation is externally driven by personal ambition, desire, and interest. These types of motivation are very goal-oriented.

The rarest form of internal motivation is the one that's more common. People who have internal motivation don't seek wealth. Instead they pursue other goals such self-development, fulfillment, and service.

People with internal motivation are frequently called "passionate" since they find satisfaction from their work.

Finally, intrinsic motivation is the least popular type of motivation. Intrinsic motivation describes individuals who enjoy and are satisfied working towards a particular goal.

An intrinsic motivation is far more powerful than an external or internal motivator.

The inner motivation is intrinsic. It is based the belief people are endowed with certain talents and capabilities. These talents and abilities enable them to achieve feats that no other person could ever do.

When we realize our talents and abilities, we feel satisfied and fulfilled. It feels like we are doing meaningful work.

In short, intrinsic motivation makes us happy. It is knowing we can do anything we put our mind to. This makes us happy.

It is this feeling of accomplishment that keeps us going even when the going gets tough.

You might even find it boring if you don’t enjoy what your doing.

Click here to read more about entrepreneur motivation.

What are the top five motivators in an entrepreneur?

Motivation is key to success. Without it, nothing would happen. We wouldn't exist without it.

Motivational psychology studies how people behave when they are motivated. Motivation can make us do amazing things. It is also evident that our motivation is limited.

These are the five main motivating factors

Autonomy: The freedom to make your own decisions
Mastery is the ability or capability to master certain skills
Purpose - The sense of purpose
Relatedness - the feeling of belonging
Reciprocity, the desire to give and receive

These motivators may be able to be applied to your company. In reality, however, each provides a slightly different perspective on why people act as they do.

An individual might want autonomy because he is able to make his own decisions. He might seek mastery to be more proficient at his job.

You can go on and on. These are just a few possible motivations. There are countless others. Which ones might be relevant for your situation? You decide.

I would recommend writing down three words that describe your ideal job environment to help you determine this. Then take those same words and apply them to your current working conditions.

If you're having difficulty coming up with ideas then ask yourself, "Why do I do this?" You will find your goals when you know the answer.

Once you know your goals and objectives, you can determine where you stand now. This knowledge will help you decide if you should make any changes.

You don't have to change anything. It's time you evaluated your options.

But if you want to make improvements, then you'll need to start thinking about ways to motivate yourself.

Which motivator will be most effective? It's hard not to say. Instead of focusing on one factor, try focusing on all five.

This will allow you to achieve your ultimate goal, becoming a successful entrepreneur.

How can entrepreneurs motivate employees?

Motivation can come from anywhere. Motivation doesn't have to come from a specific place. All that matters is that it motivates them. Motivation is key for any business, whether it's a carrot or stick approach.

The more motivated an employee feels, the more likely he/she is to perform well. To make your team more productive, empower and engage them.

You have to give them a sense of belonging. It should be a place they can learn and grow. It is a place where they can express their ideas without fear of being punished.

A company culture that allows them to thrive and succeed. This is how you keep your best people happy, loyal, productive and satisfied.

To keep the culture alive, reward people who help you succeed. This means bonuses when goals are met, offering training opportunities, increasing pay raises, and providing perks such as health insurance.

Also, you must communicate clearly with everyone. You must ensure that everyone understands the expectations and reasons for them.

Make sure that your policies and procedures have been written down. You should ensure that they are observed by someone.

Communicate often, and that's the most important thing. Keep your employees informed about the current state of the organization. Inform your team about what's going on and what's coming up.

Communication is key, and you can help your team stay ahead of your competition by looking after them. They will take care you.

Without a great relationship with your employees, you could lose a lot of money. Studies have shown that companies with high employee engagement score higher in productivity and profitability than those struggling to retain their top performers.

It's important for employees to recognize that not everyone wants to work at a similar pace. Some prefer working alone while others love to collaborate. There are many ways to motivate individuals, and you can choose your own.

One example is that some people respond better to recognition, while others may prefer incentives. Whatever works for you, ensure it aligns with the company's goals.

You, the leader, are ultimately responsible for setting the tone. Open-mindedness is key. Listen to your team. Don't forget to listen.

What is it that makes an entrepreneur successful?

There are two types: those who make money and those that make time.

The difference between them is how they approach their business. The difference between them is how they approach their business. Those who make more money are focused on making more money, while those who make more time are more focused on making more.

The desire to have financial freedom is what drives those who make money. Their goal is to become rich and stay rich.

They are motivated by fear, greed, and a sense of entitlement. They don't care about the long-term because they know they will have a happy life after they achieve their goals.

This person is known as a hustler. They have a focus on the bottom and are able to find ways of increasing revenue without regard to quality.

Some make time. These entrepreneurs are driven and passionate. They want to create something meaningful that will last forever.

Their motivation is altruistic. They want to accomplish great things. They are passionate about creating services and products that make a difference.

These people are known as dreamers. They are driven to achieve their goals through vision and inspiration. They know success requires perseverance, hard work and dedication.

The most important trait of these entrepreneurs is their creativity. These entrepreneurs are always searching for new opportunities.

They thrive on the unknown. They love to research new areas of interest and will often spend hours on it. Because they enjoy learning new things, they are always open for new ideas.

It is also why they are adaptable to changing situations. They are not afraid to get dirty and do whatever it takes in order to win. They will not tolerate mediocrity.

Which type of entrepreneur do you identify as? Are you driven to make money, or are you motivated to find meaning?

Congratulations to those who answered yes to both of these questions! You are a successful entrepreneur.

Over the years I have had the opportunity to meet many successful entrepreneurs. What struck me most was their passion for what they do.

Entrepreneurs are not defined solely by their monetary wealth. Their impact is what defines them.

Steve Jobs was a great example of philanthropic work, even though he wasn’t wealthy. He was only in his mid-40s when he bought his first house.

His ability and creativity to create products that transformed the world made him wealthy. This is what makes him unique.

Your job doesn't involve accumulating wealth. It is not to create empires or amass wealth.

Your job will be to build relationships between customers and partners. To build trust. To assist others in achieving their goals.

To make an impact. That's your legacy. It's not your bank account.

If you are interested in building a legacy that is meaningful, let's get started.

Social Media University will show you how to make passive income online. How to market your business and make it grow automatically.

Statistics

That means for $150,000, you could have bought 10 percent of Airbnb." (entrepreneur.com)
According to analysts, Johnson has high appeal in all four quadrants tracked at the multiplex: male, female, over-25 and under-25. (forbes.com)
I shifted my motivational point from something huge (and undefined) to improve by just 1% each day. (carolroth.com)
"If you improve by just 1% every single day, in several months, you will have improved by 100%. (carolroth.com)
Our 10 years of research also shows that 75% of mentored entrepreneurs increased their revenue, and 82% of their businesses survived the first two years. (carolroth.com)

External Links

How To

What are three things that keep entrepreneurs motivated and successful?

Entrepreneurs must have motivation. There is no motivation without which there can be neither drive nor determination to succeed. What motivates you?

These are the three main reasons that we stay motivated.

We love our business
Our vision/mission is larger than ourselves
We have a passion to help others

Find ways to tap these motivations to stay motivated. When we love our business we feel great pride when it succeeds. We are more satisfied when we have a vision and feel like we are making a real difference in the lives of others. And when we have a strong desire to help others, we feel fulfilled because we give back to society.

According to a University of Chicago study, the best way for you to motivate yourself is to be focused on the things that matter to you. In his book, "Loneliness", Cacioppo states that "the greatest source of motivation" is "caring about something". This helps us become more engaged in our lives and more energized. It makes sense that we will feel more passionate when we care about something.

Did you miss our previous article...
https://consumernewsnetwork.com/technology-news/2-ways-to-take-back-the-power-in-your-business-part-2