One of the ways that you and your company can maximize revenue potential is by moving opportunities through the sales funnel more efficiently. For example, if you normally win 10 deals in a quarter, just a 10 percent increase in your funnel velocity can boost your revenue to 11 wins per quarter.
Moving opportunities through the funnel more quickly begins with providing revenue teams with ‘buyer-centered’ sales processes.
A sales process is mapped to each stage of the customer’s buying process. It gives them a defined approach to follow as they pursue an opportunity, ensuring that everyone’s on the same page and knows where to focus.
Companies often provide their revenue teams with several to choose from, each based on the specific needs of both the buyer and the seller.
For example, selling to a government entity can be different to selling to a commercial business. And different levels of deal complexity — a large enterprise or a small business, for example — might call for different sales processes as well.
The aim of every sales process is the same:
- To understand where the customer is in their buying process.
- To ensure the revenue team has a clear understanding of the customer's requirements.
- To communicate the value that your solution provides.
- To develop an action plan to close the deal.
Each sales process consists of several stages designed to correspond closely to the buying process the customer follows for that type of deal.
Sales Process Manager combines sales processes and "quicklink" sales tools to put you in control of the buying process.
- It helps you to increase your opportunity's velocity through the sales cycle.
- It provides accurate sales forecasts (close dates and closure probabilities).
- It connects the dots between customer activity and deal progress.
The following topics explain how to move an opportunity through a process and understand your current position.