10 Must Have Steps to Win More Deals – Opportunity to Proposal Stage
Imagine what life would be like if you could take your qualified leads and generate a proposal that turns into revenue for your company 95% of the time. That is the goal of this blog post.
With each lead that has been qualified and converted into an opportunity it is now 100% in your court to turn them into a deal. As a sales person or manager, you need the capability to measure each opportunity to know what is working well, and what needs to be improved. You must have some kind of sales stages to segment the sales process into logical steps. You must have talented sales people that know how to sell to the competitive strengths of your product or service. The most important is to have a tool or system that helps to automate the most important tasks in selling. Here is a list of the top ten things you need in place to maximize win-rate at this stage of the sales cycle:
- Know what your customer is trying to achieve by buying your solution. What are their pain points?
- Know who your competition is for this opportunity. Ask, don’t guess.
- Know your unique competitive advantage that aligns with solving your customer’s pain points.
- How does your solution solve their pain better than your competition?
- Know how much your competitor’s solution is. Ask if you can, but you should know the ball park figure.
- Position your solution to be no more than 10% higher than your competition, unless you have a strong competitive advantage or other factors that warrant a greater premium price.
- Generate a proposal that is very clear and sells your value as it relates to the pain points.
- Turn around a quote/proposal as fast as possible. No more than 24 hours after gathering requirements if possible. Use your CRM to help with this.
- Present your proposal live, if possible, don’t just send it in and be sure to follow-up. Out sell your competitor. Don’t be a pain, but follow-up with logical next steps and dates. Record the opportunity in CRM and use it to remind you by using the next-step and next-step date feature in the opportunity entity.
- Use CRM to automate and maximize your chance to win more deals:
- Convert qualified opportunities to proposals quickly and track the time and outcome in CRM.
- Track all proposals in your CRM with status of win, lost and no decision.
- Use time at sales stage automation to alert you of a stalled deal.
- For large opportunities use the opportunity management methodology in CRM.
- Take the time to measure and review all wins and losses.
I am asked all the time if CRM can help improve the win-rate of sales; the quick answer is yes. There is a process to selling. If you:
- Break your process down into the logical stages.
- Input and track each lead, opportunity and proposed deal in CRM .
You will be able to measure what is working, automate important tasks and make changes in areas that are not working. A sales person can only mange a finite number of accounts, opportunities and customer contacts. With CRM, they can scale by automating important tasks and close more business.
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