Factors for Managing a Sales Process

Prospect Value and Probability

Define key steps in a sales process -

• Initial sales call stage
• Formal presentation stage
• Demonstration stage (if appropriate)
• Proposal stage

The probability of a close at each stage is based on historical data. If historical data is not available, then use similar client campaigns as a basis. Additional data can be supported by collecting industry or competition trends in market research.

Identify what percentage at each stage turned into a closed sale. Moving prospects along each stage will have differing success percentages. Metrics will identify what percentage of prospects after the initial call moved into the proposal stage. Each stage percentage of qualified and motivated prospects should increase. This is referred to as opportunity stage development. It rates the prospect opportunities likely success of a closed sale.

The sales agent’s goal is to move prospects into a qualified lead then into an opportunity. The focus on opportunity development is greater than the prospecting stage.

Examples: Initial sales calls are normally a low percentage, say 10 or 15 percentage on average. Presentations and demonstrations may be around 25 or 30 percent; while proposals should be at 50 percent or higher.
Refer to my sales process outline document for additional information on establishing routine and regular sales activities. The sales process outline further establishes activities for success.