Disciplines of Opportunity Management
Businesses in the B2B sector that have an opportunity based sales process often have sales opportunities that, all too often, either fall out of the sales pipeline or simply stagnate for far too long.
A common issue with how many organisations handle these opportunities is that they lack a planned and consistent approach to progressing them to closure.
Some of the key issues that we often see are:
The business simply doesn’t get enough insight into what is driving the opportunity – nor does it understand what is important to the individuals within the customer organisation.
The contact base with the customer organisation is often far too narrow – hence the Insight gathered is limited and therefore incomplete.
The understanding of an available budget is often left to the last moment – hence, there may never have been a ‘real’ opportunity in the first place.
The alternatives to a potential solution are not considered and assessed. We often find that a customer may choose an ‘alternative’ that is in fact “to do nothing or maintain the status quo” – but when speaking the people working on the Opportunity – this alternative was never actually taken seriously enough.
Only when these factors have been taken into account should a solution be developed, tested and ultimately presented to a customer.
Many will argue that this discipline takes too much time however we know that when the process is followed, you will in fact “win more opportunities in less time”.