Are you or your team converting 30% or less of your sales opportunities?
Simple changes to the way you manage your sales opportunities could be the answer to rapid improvement, without extra work or stress.
Sound too good to be true? Read on…
One reason that conversion rates are typically so low is because sales managers are not focusing their salespeople on realistic and achievable prospects.
As sales guys were tempted to build a ‘healthy’ big pipeline because it makes us feel secure. But the truth is, we probably know there are some ‘album fillers’ in there that aren’t really worth chasing.
Here are three steps to get sales results heading north.
- Tools – Managers need to have an evaluation tool to review sales opportunities with their salespeople. This ensures only realistic opportunities remain in the pipeline. Set achievable actions to complete before your next review meeting, aimed at getting commitment to the next step or an order.
- Communication – Change the review conversation from being a cross examination to a collaborative discussion. Both the manager and salesperson should be working as a team to discover any gaps in the deal and how to close them successfully.
- Sales Manager Focus – Too many managers fall into the trap of focusing on the soon to close, urgent opportunities near the bottom of the sales funnel. This is a mistake; they should invest their time on new opportunities entering the pipeline and coaching their people on how to handle them effectively.
Here’s an example of an evaluation tool you can adapt for your review.
Adopt these three points and see wasted effort reduced and conversion rates climb.
“Dedicated to Your Continued Sales Success!”