Mastering Sales Process Management: A Comprehensive Guide to Success
For More Deals and More Revenue
“My dad gave me one dollar bill
‘Cause I’m his smartest son,
And I swapped it for two shiny quarters
‘Cause two is more than one!”
from Smart by Shel Silverstein
In the world of sales, the pursuit of perfection is an endless journey. An almost infinite number of experts have delved into the subject, each offering their unique insights and strategies. But why is this topic so crucial? The answer is simple: "Perfecting your sales process and perfecting the management and repeatability of that process leads to more deals and more revenue for your business."
To shed light on this vital aspect of sales, InsightSquared and Skaled have distilled their extensive experience into a set of 12 Sales Process Management Best Practices. These principles are the result of meticulous analysis of engagement, process, and revenue data, coupled with collaboration with hundreds of companies. The best practices are categorized into four stages: BUILD, COACH, DRIVE, and EXCEED.
BUILD:
1. Make sure the process is clearly defined and adopted across the team: A successful sales manager understands the significance of a standardized process, but they also recognize the importance of its adoption and evolution. A playbook that is standardized, documented, and embraced by the team is essential.
2. Make continuous learning a priority: Regular training on products, industries, buyers, and strategies is vital to prevent stagnation among sales teams.
3. Make relationships just as important as the work: Building trust, fostering dynamic relationships, and promoting transparency are essential elements behind any great sales manager and sales process.
COACH:
4. Balance between selling and leading: Transitioning from a sales role to a leadership position can be challenging, as managers may struggle to move away from the selling mindset.
5. Ground conversations in data and do your homework ahead of time: Effective coaching hinges on data-driven insights. Managers should listen to calls, review pipelines, and track activity trends to offer valuable guidance.
6. Further develop strategic and account planning skills: Often overlooked, developing reps' strategy and account planning skills can significantly impact the sales process.
DRIVE:
7. Use data to identify team themes: Regularly reviewing and interpreting data helps improve the sales process and uncover areas for improvement.
8. Use data to identify individual trends: Understanding individual performance metrics allows for targeted coaching and the replication of successful strategies.
9. Use engagement as a key driver: Monitoring engagement activities, such as call and email frequency, social interactions, and meeting cancellations, can provide insights into stalled deals and longer conversion times.
EXCEED:
10. Create a development plan for the team to work on key areas every quarter: Ongoing optimization of the sales process requires a structured development plan for the team.
11. Create development plans for reps to work on key areas every quarter: Rep-specific development plans should be actionable and tailored to address their unique needs.
12. Invite and welcome feedback: To surpass expectations and achieve goals as a team, fostering a culture of respectful and constructive feedback is essential.
The beauty of these best practices lies in their tangible and actionable nature. Implementing them can lead to remarkable improvements in your sales process and overall business performance.
Over the years, a number of articles have explored the realm of sales process management and sales leadership. Many of these articles resonate with one or more of the twelve best practices, emphasizing their enduring relevance:
"Uncoachable!"
Talk to us about a fractional or interim sales leader who has successfully worked with teams to grow deals and revenue.
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InsightSquared, Skaled – 12 Sales Process Management Best Practices of Top Sales Managers
Photo by Anne Gosewehr