What Impact Does A Well-Oiled Sales Process Have On Your Lead Conversion Rate?

WHAT IMPACT DOES A WELL-OILED SALES PROCESS HAVE ON YOUR LEAD CONVERSION RATE?

What exactly is a sales process?

A sales process consists of systematic steps that your sales team follows in order to increase the probability to convert a sales lead into business.
The main aim of your sales process should be to build rapport with and to nurture your sales lead by initiating regular contact.

Why should you consider a sales process?

The purpose of the process is to establish as many contact points with the sales lead in order to determine what their needs are.  This should help you build a trustworthy relationship with the lead to the point where they will ask you for a quote or a proposal. The sales process can even help you to take the next steps into your business relationship if the lead is happy with your service offering.

The structure of your sales process is the first and foremost important thing you need to get in place.

Let’s take a look at an example of a sales process.
** There is contact with the lead during this step

Step 1:  Capture the lead

Step 2: ** Acknowledged via Email/SMS

Step 3:  Qualify the lead

Step 4: ** Set up a meeting with lead

Step 5: ** Send the lead your company profile

Step 6: ** Confirm the meeting before you leave your office

Step 7: ** Visit the lead

Step 8: ** Send them the outline of the job

Step 9: ** Confirm that they’ve received the outline

Step 10: ** Set up another meeting

Step 11: ** Send them the quote 30 minutes before the meeting

Step 12: ** Visit the lead to discuss the outcome of the quote

Step 13 (optional): ** Follow up with the lead if they did not make a decision at the meeting

If you followed the example sales process above, there will be 11 contact points with the potential client thereby increasing your chances to convert the lead into business.

More importantly, you must ask yourself the following questions during the steps to ensure somebody takes full responsibility for each step:

  • What should happen?
  • How will it happen?
  • What system is involved?
  • Who should action the task?

i.e. Let’s have a look at Step 4

  • What should happen?
    • Set up a meeting with the lead
  • How will it happen?
    • Phone the lead
  • What system is involved?
    • Leadtrekker: A note should be made on Leadtrekker
  • Who should action the task?
    • The sales person

Once you’ve mapped out your own process, you should put it to the test by taking an actual lead and running it through the entire sales process. Do this a couple of times to identify and straighten out any glitches that there might be in your sales process.

Combine your well-oiled sales process with a lead management system, like Leadtrekker, to help you to systematically nurture your leads and enable you to rapidly grow your relationship with the sales lead. This will also increase the probability of the sales lead to convert into business.