Are your sales efforts producing diminishing returns
It is inevitable that at some point sales processes and sales technologies will fail to maximize revenue. Perhaps due to a changing economy or changes in buyer behaviour, a recent shift in the strategic direction of the business or a competitive threat. Regardless of the reason, sales processes require constant optimization and attention.
How do you know if your customer relationship management (CRM) approach is producing diminishing returns? Diagnosing the problem starts with identifying symptoms. , these may include:
- Longer than average sales cycles
- High sales rep turnover
- Recent loss of market share
- Difficulty accurately forecasting sales results.
It’s easy for a depressed economy to mask internal issues. Optimizing sales processes or improving the availability of information could give your sales reps the competitive edge they desperately need.
Are opportunities stuck in the pipeline for abnormally longer periods of time? Understanding deviations that are outside the normal variances is critical to staying on top of potential issues
CRM Technology not used effectively
For top performers CRM is a source if competitive advantage for reps. It becomes a destination for sales people to get a leg up on deals, supplying background info on accounts, contacts, lead qualification, insight into marketing communications, etc.
A stagnating pipeline could be an indication that the volume of leads entering the sales pipeline is not sufficient to meet sales targets.
Opportunities are slipping through the Pipeline
According to research, approx. 50% of leads that enter the sales pipeline will not close in the near future. Technology needs to enable these leads to be rerouted back to marketing to be nurtured until the client is ready to purchase.
Lack of Sales process
If lack of process plagues sales results in your organisation, there is a good change sales is not reaching its full potential. Top performers rank streamlining and establishing consistency in company sales processes as a top three value driver for maximizing CRM Success
Speak with ProAptivity, we can advise on industry best practice when overcoming a Stagnating Sales Pipeline. ProAptivity specialize in the implementation of Maximizer CRM. Contact us today on 028 9073 5630 for your free consultation to understand how CRM can benefit your business.