What is a sales business process? This is a set of steps (stages) meant to initiate and support the identification and evaluation of prospective clients (prospects), presentation of sales, and successful sales activities conclusion. Such a process entails a close coordination and cooperation of employees and technologies to achieve desired business goals (a competitive advantage, increased revenues and market share, satisfied customers and reduced operational costs).
An ideal sales business process is the key to a company’s prosperity and solid market power. However, not all executives are able to build a repeatable, scalable sales business process because it is really hard. In order to close a deal, a sales team needs to consider a great many things to create a sales flow that will work and bring profit: searching for new prospects, acquitting perspective clients, engaging with existing buyers, and moving them all through a customer lifecycle over and over again.
When these steps are performed by people, a risk of a human error is too high. Human mistakes cost too much to any company whether it is a small start-up or a national enterprise. Fortunately, all the bottlenecks can be prevented if an organization deploys smart software, which will model, simulate, implement, monitor and automate all the sales processes within and across a company. The CRM bpmonline solution is this very software.
How is a sales business process built?
Building a sales business process starts with mapping. Once a company successfully introduced a professional bpm’online system, like one available on https://www.bpmonline.com/sales/business-process-management, the reps become able to evaluate deals and identify the main steps: leads generation, qualification, touchpoints, presentation and close. Stages of a sales process are unique for every company, but with the help of a good CRM platform steps of any business process can be easily tailored to align with your company’s specific needs and objectives.
An advanced CRM solution provides all necessary tools to assist your managers with sales business process building, for example, they can add any information (documents, performance metrics, business rules) they need to track or measure to each step of a process. You can configure the stages so that they will reflect:
- The number of sales calls, emails, messages within a concrete time period;
- Sales closing rate for each salesperson;
- Length of sales lifecycle;
- Customer retention rate;
- Lifetime customer value;
- Marketing campaign ROI;
- BI and KPI dashboards.
All this data will be presented in a form of intuitive dashboards with the personalized content.
When all the core stages of a sales business process are well-defined, the employees get a better vision of how your company is succeeding in achieving its desired outcomes.
With the clearly presented steps you can see:
- what makes leads transit from one stage of a customer lifecycle to the next one;
- how many leads moved into and out of every stage of a customer lifecycle in a specific period of time;
- what bottlenecks occur during this journey;
- generally how much time it takes your prospects to jump from one stage to the other;
- how long your prospects stay in a particular stage on average;
- what actions the leads do while moving around a customer lifecycle;
- Whether there are places where you can accelerate the time spent at one stage and so on.
If a sales business process is properly mapped out, the reps get more confident in sales forecasting and decision-making, and executives get more motivated to evolve the sales process, project revenue and budget, and develop more effective business strategies that will align with the customers’ buying experience and concerns.
A sales business process must be dynamic and flexible. With an excellent bpm’online platform any business process can be easily modified or changed by non-programmers in order to comply with the business rules and policy accepted in your organization and meet the industry, state, federal, and international regulations as well as the market trends. You need to have unique sales processes to outperform your rivals and leave them behind, to stand out and make your clients remember you.
Benefits of a sales business process
A fine CRM system helps add value to a sales business process and align internal operational functions with customer’s demands and contributes to directing, monitoring, and measuring resources of a company.
When properly integrated by fully trained professionals, for instance by the bpm’online developers, a sales business process facilitates costs reduction, efficiency and productivity enhancement, errors and risk minimization, and increase in the volume of sales, while the CRM embedded best practices contribute to sound financial management.
Actually, a sales business process dictates a sequence of actions. When salespeople know what they are supposed to do, they are able to better understand customers’ needs, predict consumer behavior more accurately, and take appropriate measures quicker.
By having a well-designed sales business process, the reps get a better view of clients’ expectations what empowers the staff to offer additional goods or produce new products or services to satisfy the consumers’ needs. That leads to increased cross- and up sales.
Cooperation and communication are considerably improved when sales business processes are deployed. Now the reps not only have a clear vision of the steps of each process but also understand why they must properly execute these steps. Hence, the level of corporate responsibility and personal engagement gets much higher.