The annual report of a manufacturing company showed a sudden decline in business growth. The sales team on inspecting the issue revealed that in spite of a rise in the number of customer followed in the prospect list only 3% of the total had turned into successful deals.
Considering this as the focal point, the sales team decided to get deeper into this issue and started their analysis referring the software service database that holds customer data related to the trade between sales team and the customer.
It was observed that from the entire customer list, 60% of the customers had failed to reach the next stage. With no successful deal, in spite of the long efforts in the calling activity, the focus was more seen in just creating leads than identifying a potential customer that could end up in a closed deal. In short, a need of a process at an early stage of the sales activity that not only should help to cut down the prospect list, but also provide a well targeted list of potential customers was identified.
The point to be made here is that a strategic process that could provide a list of customers to be focused in meeting organization goals was a need of the hour. The process should not only provide the list of potential customers, but also avoid putting efforts, time and funds on activities which do not form opportunities for the organization. A business can reduce their cost associated with all kinds of sales and appointments which do not form opportunities.
To bag a deal, a sales representative has to keep him more focused towards meeting customers, maintaining follow-ups, addressing customer calls and inquiries. Being an important link between the company’s revenue and the customer, allocating his effort in appointments may stop performing him in his own area of expertise. The company would always like him to focus on closing deals than just adding leads. The point made here is ‘core competence’. Let the mission to sell a product be the prime deliverable of a sales representative, while setting genuine appointments be a function of an ‘appointment team’.
Let a service that can effectively sell the potential appointment come into force that can take loads of the sales executive. This service can build an audience that is well aware of the services provided by your company so that it will help in maintaining and sustaining a good relation in meeting organizational goals.
Processes internal to an Appointment Service could be differ from vendor to vendor, but ultimately would function to cutting down prospect list, segmenting the prospect list based on defined parameters, customer ratings, etc. The processes have proved to be an effective way towards client’s success in the current age of the customer. The balance between people and strategy with the use of processes together will drive the business to its objectives.