Technology is a key enabler of efforts to minimize the time and resources that need to be dedicated to lead qualification.
Indeed, if you take this further and use the power of qualification throughout the entire sales process, time can be saved in not having to justify sales forecasts, taking less time in lost sales analysis, making better and more informed management decisions and much more.
This impacts on all of the business… not just the individual.
Questions, questions, questions…
Traditionally the sales meeting has been the principal opportunity qualification process. Sales people give their sales forecasts to management which are then consolidated into one sales forecast. This is then used at a sales meeting by the sales manager to question the sales person about where they are in the sales cycle for specific opportunities.
Such a process means that sales people not only have to concentrate on present and future sales… but have to continually concentrate on the past as well. In large companies this entire process can take days out of everyone’s schedule that could be spent selling.
The objective really should be to get the sales force to use the qualification process in a sub-conscious manner so that they use it to monitor and manage their own sales opportunities. Using technology as SymVolli does, the qualification data is stored historically so that qualification profiles can be saved without a conscious effort to create one.
Of course this does require the sales managers to spend time configuring the right set of criteria at critical stages of the sales process - and for continuous reviewing of the effectiveness of the qualification profile.
As Gartner puts it - “Enterprises must recognize that technology will not, in itself, optimize lead qualification (but that technology can) can improve close rates and reduce demand on enterprise resources.”
Best practice and affecting the Buying Cycle
Another word for best practice is ‘sales methodology’ and there are many respected methodologies from Miller Heiman, SPIN, CustomerCentric Solutions etc. Many methodologies are developed within the company itself over time. As the saying goes, play to your strengths – which is essentially what best practice is all about.
But how does best practice fit into improving sales effectiveness and the qualification profile? Just because you employ best practice does not mean that you will be successful unless you ask why you should go after a particular opportunity.
Why should I go after that opportunity? Because it continually meets our qualification criteria throughout the sales cycle - we have had success in similar situations in the past.
‘Similar’ is the operative word because it should not restrict management at looking at different market sectors and situations that the same practices can be implemented, maybe requiring a slight adjustment.
One of the key issues in best practice is that we align it with what we do in the sales process. The successful companies understand their prospects’ and customers’ needs and their buying process. They incorporate that within their qualification process so as to ensure that they are helping the prospect or client to move through the sales cycle.
The complementary nature of qualification and best practice means that using both to its fullest capacity will undoubtedly affect the success of the other.
The sales process after all, is there to facilitate and progress the buying process within the sales cycle. If it works properly the sales cycle can be reduced.