Thoughtful Thursdays – Monitoring the health of your sales process
When was the last time you scrutinized your sales process? Are you sure it is in good health?
Your sales process is a key tool for generating revenues for your business. Some would argue that without a sales process, a business is less likely to be successful.
Just because sales are good, it does not necessarily mean that your sales process is healthy. It indicates that it is working, but could it be better? How do you monitor it?
The basic process has not changed since products and services were first offered for sale. What has changed are the tools available to improve the execution and monitoring of the sales process.
- Are you using a customer relationship management tool?
- Do you use analytics to measure your results?
- Do you measure your close rate?
- Do you know the value of your average weighted sale?
- Are your margins growing or shrinking? Do you know why?
- Do you consider the lifetime value of your customers?
- Do you measure the customer churn rate?
Monitoring the health of your sales process is more than measuring sales revenues. It includes considering all the sales tools available and choosing which ones are relevant to your process.
Good selling,
Richard
Have a question about sales? Contact Sakanashi and Associates Inc. and I will respond.
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