Likely, your sales cycle has evolved a lot as your organization has grown and shifted its priorities throughout the growth phases. At one point, you were happy for any sale, no matter the cost or amount of time involved. Now, however, a lengthy or exasperating sales process and cycle could be seriously negatively impacting your business and success.
In the Middle Market, you have many opportunities to improve and refine many processes that your smaller and larger competition doesn’t. Due to your size and larger profits, you don’t have to be happy for any sales that come your way, and you don’t need to cast as wide of a net hoping to land a few big ones.
Conversely, you’re sized so that your internal dialogue and communications can be much easier and direct than your larger competitors. You haven’t built in as many barriers to innovation, and your size allows you to be much more responsive.
Why Your Sales Cycle Deserves A Review
As your Middle Market firm has moved past startup, how has your sales process evolved? Have there been periodic, strategic evaluations of how you search for, work for and complete sales? When was the last time you accurately calculated the entire sales process timing?
If you can’t easily answer, it probably is time for a thorough review and revamping of your sales process.
When you have examples of how your sales process is detrimental to any other part of your business, including your bottom line, you should be paying attention to how you can improve it.
At the end of the day, the best and most simple reasons are an improved bottom line, better profit margins, happier customers, and employees.
What To Look At Implementing To Improve Your Sales Cycle Timeline
When you’ve completed your review of the sales cycle, you might have spotted some bottle-necks. Those will be your key initiatives to focus on first.
Next, you likely will want to start looking at the components of a successful and speedy sales process to make sure your Middle Market firm is focusing on the key parts that bring the most benefit.
How your sales team, leadership, and C-Suite talk about sales.
– Does everyone use the same terminology & does everyone agree on their meaning?
How is the sales process documented and tracked from start to finish?
– Do you have many moving parts involved or a solid, robust CRM or tracking tool in place?
– Can everyone involved access the necessary information easily and quickly?
Does your sales team know exactly what a good lead looks and feels like?
– Do they understand how to focus their attention and time on leads that will likely pan out?
– Do they know when to stop pursuing prospects that aren’t going to come to fruition?
– Does your staff know how to identify the top decision maker & how to connect with them?
A thorough evaluation, improvement and shortening of your sales cycle will benefit your Middle Market company in numerous ways. Saving time, money and frustration are the ideal benefits you can expect and are worth the time spent on refining it.
So what’s in the Mighty Middle Market for me? — get it right now at www.Go4ROI.com.