Having it all mapped out – five reasons why businesses should understand the end to end sales process if they want to increase sales

Bar chart sales growth

To you and I it might be obvious –… from no sale to sale understanding the discrete steps, the number of people coming into the funnel at each stage and the number of people going on to the next stage… But many businesses don’t have these sales processes mapped out and even fewer know the conversion rates/numbers for each step. So how do they know what part of the sales process needs the most attention and how do they know where there might be the best opportunity for leverage. In short unless the process is known and the numbers understood for every step, they don’t…

Here’s five tips that will enable you to understand the sales process better and so increase conversion rates…

  • Ask every single sales person to map out the process, they personally follow, for every way to market and include the conversion rates for each stage; there may be an agreed process but people are people and will do things slightly differently so its useful to know what these are – especially from the most and least successful sales people in the business.
  • Compare the different maps and agree a strategy that’s to be followed for every single person for every single way to market. As new ways to market are added map out the process and add the conversion rates as the processes takes place.
  • Ensure that for every single campaign/way to market the conversion numbers can be identified whether it’s for adverts in different publications, Facebook, pay per click, telesales, networking etc. If you don’t know that granular level of detail then how do you know what’s working and what’s not? It may mean collecting additional information, using more than one telephone line and so on but it pays dividends to understand the numbers.
  • Using the cost of the individual campaigns and the conversion rates calculate the cost of the client acquisition/sale. Key to getting the full understanding of the success and cost of each way to market is adding the value of the sales for each of the discrete processes e.g. if an ad costs £10k but only generates 3 sales on the face of it the cost might be high but if the average sale is £25k then it’s a different story.
  • Knowing that the aim is to increase overall sales say by 10% what conversion rates would be needed to do that? So rework the map backwards from current sales plus 10% or whatever the desired rate is to identify the required conversion rates.
Now that the processes and conversion rates are understood what action can be taken to increase the conversion rates at each stage to achieve the desired increase in sales?

Comments