Sales Success: 4 Easy Ways to Dominate
The sales game has changed! Enterprise software companies that are not creating an organizational structure which aligns the necessary culture, plan and components for sales representatives to execute efficiently, are facing an uphill climb.
Here’s the challenge: When bringing a new product to market or trying to increase market-share of an existing solution, speed matters. Generating revenue quickly is essential as private investors or shareholders aren't patient when looking for a return on their investments.
Additionally, most vendors are bringing products and services to the market that companies don’t necessarily need to buy. Most mid- and large-sized organizations now have the option of building their own proprietary solutions, which makes it even more difficult to generate initial sales.
As we kick off 2022, it’s the perfect time for companies needing a more focused approach to generating sales revenue, to carefully examine their existing sales processes and structure to make the needed improvements.
Specifically, companies should ask themselves the following questions:
Have we created a unique value proposition that resonates with business executives in the market?
Is our pricing scheme competitive and, more importantly, easy to understand?
Are our sales executives trained to effectively sell the solution?
Is the organization providing the necessary support to ensure the reps succeed?
Based on the experience I've gained working for Software Vendors in various growth stages, there are four critical components that I believe determine success in the market:
Build the right team: Make sure you build your sales culture with transparent sellers. Use criteria to hire forthcoming individuals who will keep management informed.
Develop a clear plan: Put a go-to-market plan in place that gives sales people the knowledge they need to execute. If you leave the research time to sales executives, it minimizes their time doing what they should be doing – meeting prospects and customers.
Execute the strategy: Sales folks execute best when they know they articulate a value proposition a business buyer understands and when they can explain how their offering is priced. If the message is unclear and/or pricing is confusing, there is a good chance a sales deal will not happen.
Manage the plan and adapt as needed: Consistently review KPI’s and anticipate potential challenges before they occur and socialize this with your sales team to prevent opportunities from slipping away. Use a close plan to effectively manage the process needed to find, cultivate and execute deals.
With a clearly defined plan, concrete execution strategy and a strong focus on developing the right team to deliver the deals, your company will be well positioned to bring in enough revenue to meet and exceed your targets.