In the last couple of years, sales has undergone a complete transformation in terms of its underlying challenges and expectations.
Altogether, sales can no longer be considered a process of fair exchange in product and its value; today it doesn’t just limit itself to individual seller and buyer. Rather, it revolves around organizational decision-making and process streamlining, which can be considered the essential characteristics of a modern sales process.
These five CRM-based sales practices help you understand and excel in the midst of modern day sales challenges.
Internal Decision-Making Pyramid
Nowadays, the common day to day sales decisions come with long-term future implications. A single wrong decision could jeopardize client relationships, profit margins and future of the business. Meanwhile better decisions pave the way to positive client relationships and business prosperity.
Here, one needs to ensure that the right individual is empowered to make the important decisions.
A sales CRM can be organized to reflect an internal decision-making pyramid. For example, all ground-level sales representatives reflect the base of the pyramid. Likewise, the higher parts of this pyramid can reflect the upper portion of your organizational hierarchy. All sales decisions are escalated based on existing availability and priority. The software subjects all decisions to an approval process by the right individual.
This also allows you to manage all approvals based on an organizational hierarchy.
Integrated Micro Decision-Making
Rather than taking large sweeping generalizations, you can manage your daily sales activities based on smaller micro decisions. For example, the concerned manager can consider each specific client quotation and prepare adequate counter measures. This enables you to mitigate risks and rectify errors easily.
If you are deciding to chunk your smaller decisions into a larger decision, it puts an inordinate amount of pressure on a single decision. Consequently, this also instigates course correction and error detection, all the more, further down the road. This usually increases your probability of failure.
The CRM API notification helps you take decisions on an individual basis. This enables you to avoid decision-chunking errors and provides sharper ground-level visibility.
Combine Online and Offline Lead Funnels
For a sales professional, online and offline leads are polar opposite. Online leads tend to have larger volume with a lower rate of accuracy and aptitude. The offline leads come with better a conversion opportunity. This could result in unhealthy competition between your sales professionals.
With CRM-based sales management, you can allocate leads on a consistent basis. Having automation principles applied for lead management, lets you handle each lead funnel with optimal proficiency.
Streamlining Order Fulfillment
In the fast-paced modern world, your customers will be expecting speedy order fulfillment. Having a longer order processing time means depreciating customer interests and increasing the chances of order cancellations.
A CRM-based order handling enables you to connect between the sales and distribution fronts of your organization. This lets you manage each order with increased proficiency and speed.
Risk Management Protocols
For all the businesses looking to avoid undue risks, risk management protocols are a definite addition to the process. Under most situations, this just complicates things. It serves to make your decisions harder to manage and tougher to proceed.
With sales CRM, you can integrate sound risk management protocols into your sales activity. It includes automated approval requests for specific upper or lower limit packages, prevents conflict of interests, inbuilt planning, strategy etc.