Tip #2: The must-have tool to obtain your end-of-year results!
April 9, 2020
Do you want to successfully design your sales plan and achieve your end-of-year sales objectives? Do you want to get rid of the roller-coaster effect that leads to uneven revenue?
Let me tell you about one of the most precious resource I have acquired through my 15-years experience of sales experience in the life science and healthcare ecosystems.
Organise your sales activities using sales funnel management
You can already tell the difference between a lead and a prospect. These potential opportunities need to be judiciously distinguished. Focus on the one that gets you to a win-win situation.
Example: an article on a company’s expansion, contacts from a discussion at a conference, or the upcoming end of the contract of a potential customer who is currently working with the competition.
There is a match between the customer’s needs and your solution. This step helps us to define which opportunity I decide to take down the funnel.
Example: at least one contact confirms a need for your solution (he wants to improve something or find a solution to a current problem) and expresses an interest in your solution.
This is deal management: identify decision making units, their influences, the urgency and their ‘mode’. (Are they in trouble, are they willing to improve their position?). Discover their needs and assess the competition and your position on the competition.
Close the deal!
Why is the sales funnel important for your business?
Funnel management is used to structure and focus commercial approaches for the sales teams and their management. By regularly designing or updating a funnel it is possible to obtain the current picture of your pipeline and to challenge priorities. A healthy funnel should be balanced (as in the picture), full and in movement. Any potential deviations will be put into an action plan in order to arrive at a balanced situation.
- Manage your time and prioritise your actions
- Define your position within the sales process
- Follow up a given opportunity
- Balance the four steps of activities in your daily management
- Develop a sales plan; execute and measure the results
- Forecast