Slow Down to Improve Win Rates and Forecasting
We have discovered that companies that have market beating win rates and more accurate forecasting all have one thing in common:
They have a robust sales process that is reflected in their CRM and they have a focus on coaching rather than managing their sales people.
Their approach has resulted in a different way to manage sales opportunities that in turn has resulted in improved win rates and more accurate forecasting.
Their focus is to ensure that they have the most insight possible before developing solutions. They are very inquisitive when working with their clients or prospects and are very focused on uncovering the critical insights that will enable them to develop superior solutions – solutions that will deliver demonstrable value to the client/prospect.
The sales managers take on a role of the coach, they challenge their sales people to ensure insight is uncovered and validated. They assist their people to have more insightful conversations with the client stakeholders through developing superior frame-ups and questions that drive deeper conversations. They also keep the sales moving, but not by proposing too early.
When it is deemed the insight is in place, they develop their solution collaboratively and challenge all assumptions. This always leads to validation of insight as they go with the sole purpose of developing solutions that deliver superior value to the client and to their business.
An interesting knock on effect is their sales forecasting improves accuracy and more robustness is added to the sales process.
The CRM, when implemented well, plays a critical role in managing the process, capturing the insight and providing the platform for coaching.
If you would like to discuss how your CRM could provide a platform for more effective selling, coaching and forecasting, please drop me a line: firstname.lastname@example.org