Businesses need growth; predictable growth. There are a few factors that impact revenue growth but effective Sales and Marketing is right at the top of the list. The key word, however, is 'predictable' - and that is where the importance of a sales process lies.
Whilst it is a well-used idiom that every sale starts with a lead, it is also a truism that no sale closes by accident. Even if the sales process you followed only exists in your own mind.
Many businesses have individual 'super-heroes' who bring home sales. However, ensuring the entire sales force (including marketing) is able to deliver sales revenue cannot be left to chance - or the hope that rest of the team can emulate the hero. To ensure revenue growth it is far, far better to be consistently good rather than occasionally great. Recording and following a sales process means you can:
- drive best practice through your business,
- capture lessons learned
- continuously improve to increase win rates.
Done correctly, implementing process in Sales and Marketing will deliver consistent revenue growth.
A sales process allows the capture of the good practice and elimination of bad practice. Do what works and drop what doesn't. Following a sales process can help you close more sales, achieve higher customer satisfaction and better predict your sales revenue.
What is the Launchpad CRM Sales Process?
Before answering the question directly, let's re-cap on what a sales process is:
A sales process is a set of generic, repeatable activities usually derived from industry best practice - although often tailored for a business's own needs - which is intended to optimally drive an opportunity through the sales funnel stages: either to successful completion or for it to be pro-actively rejected as an inappropriate business fit.
The Launchpad CRM sales process is your sales process
You can choose between a number of sales processes which follow common sales methodologies (e.g. Miller-Heiman or the Sandler Selling System) - and you can tailor these as you see fit - or you can start with a blank page and create the process that your company uses today using Launchpad CRM's very easy-to-use editor.
If, after using your process for a while you decide it needs modifying, the changes needed are also straightforward to enter.
A key point in the Launchpad CRM Sales Process is that you are able to set different processes for different opportunities; so you are able to have a different process for some projects than others. You decide which process to apply; for example you may have different processes which apply more rigour for high value projects than for much lower value opportunities, or for particular customers to better match their buying process.
Which process to use is selected when setting up the opportunity in Launchpad CRM - and can be changed later, if necessary, as you learn more about the opportunity and determine it should follow a different process.
So, you see that the Launchpad CRM Sales Process is fully flexible and able to implement exactly what your company needs to ensure consistent sales performance.
Creating and Defining a Sales Process in Launchpad CRM
Some key points about Launchpad CRM Sales Process:
- It's your process - The Sales Process designer within Launchpad CRM allows the creation of bespoke a custom sales process with as many steps in each stage as necessary.
- 'Gates' can be set - Conditions can be set on any step to require completion of an earlier step before it can be marked as complete.
- Actions can be assigned - Responsibility for completing any step (or Action) can be assigned to any user and (optionally) have a completion date set against it.
- Contextual help/guidance can be incorporated - In order to help users progress through the sales process links to videos or other support material, as well as advice notes, can be added to any step.
Launchpad CRM allows you to define your own sales process, there is no need to follow a pre-defined process that does not fit your business - although you can, of course, use or tailor one of the predefined processes included within Launchpad CRM.
Typical Sales Process Stages
Having a standard sales process not only encapsulates the key steps necessary to close a sale, but also means they are commonly applied across the business - essential for effective sales funnel management.
A typical sales process may include a number of stages. The actual stages, and transitions between them, may vary between businesses but typically consist of these 5 sales process phases:
Suspect - is this a genuine lead and is the customer profile a good fit? Considerations might include:
- Is this a surprise RFQ, for an opportunity for which you may be being used as spreadsheet fodder, unless it's from an existing customer?
- Is this a customer who's renowned for cancelling orders once placed, or not making payments on time?
- Can you articulate and deliver a solution to their need?
- Prospect - is the customer in a position to proceed? For example; Does this customer have a desire to buy but no approved budget to do so?
- Qualify - does the customer value the features, and advantages and benefits of your solution, and are those more attractive than your competitors?
- Offer - generation and submission of a compliant proposal
- Award - negotiation and close
A key differentiator between a sales pipeline and a sales funnel is that rather than chasing every opportunity which lands on your doorstep those which are not appropriate are actively discarded.
Mapping Sales Process Stages to Sales Funnel Stages
Launchpad CRM also allows for the concept of mapping a sales process to sales funnel stages; this allows for a common view of all opportunities to be assessed independently of which sales process is applied to any opportunity.
Launchpad CRM Has Other Great Features
The thing about Launchpad CRM is that it was developed by practitioners of Sales and Marketing. People who have done it - and who are successful at it.
Because of this Launchpad CRM contains lots of really great features which provide huge benefit to Sales and Marketing professionals who are 'time-poor' and who want another 'monitoring tool' to use, like they need a hole in the head.
Whether you are:
- qualifying an opportunity
- bidding for an opportunity
- closing a sale
Launchpad CRM has features which will improve your Probability of Winning; check out more of them by clicking the links above.