Are you assured about your regular inflow of prospects? Do your prospects have intention to buy your product? Are you targeting the right audience group?
The answer to all these questions and more is coming down to define one resolution – a strong pre-sales process.
In 2016, most companies have developed a segmented sales pipeline to handle the different selling activities – pre-sales process, sales pitching, negotiation, sales closure, sales strategizing, etc. When you have multiple interconnected processes, it’s easy to evaluate and attribute one part of sales as more important than the next.
For this reason, the pre-sales process usually takes the back seat to apparently most important aspects of sales such as closure and negotiation.
In this article, we will discuss about the significance of having a strong pre-sales process. We are hoping that these facts may act as your incentive to establish and utilize an organized pre-sales process.
Purpose of a Pre-sales Process
In-order to understand the sales-process you need to first understand the purpose and benefits of the pre-sales activities.
You can generally say that the purpose of a pre-sales process is to connect and understand your target audience. It allows you to generate the interest in your product.
For a meaningful negotiation, you need to first collect adequate information about the prospect. Afterwards, the pre-sales process involves supplementing the prospect with enough information for further progress in the sales process.
You also need to furnish adequate information to supplement the prospect with data for the latest sales stages. In this article, we will discuss significant benefits of having a pre-sales process that will improve your customer understanding.
Increase the Number of Qualified Leads
A qualified lead is a prospect with a dedicated budget and a requirement for your particular product. A pre-sales qualification allows your prospects to become well-informed about your product. This will enable your closure experts to attend a pool of interested clients that have a higher probability of conversion.
According to Accenture study, a pre-sales process will make your customers more informed and interested in your product. Consequently, this will mean that your prospects are more qualified than otherwise…
This also allows your audience to be more engaged on the right aspects of your product.
This allows your audience to be pitched and engaged with the right marketing messages. It will create a long-term sales process that is more robust and consistent in churning out prospects.
Helps you Develop individual sales skills
The present sales ecosystem demands you to have specialized skills to take your prospect forward in the sales pipeline.The pre-sales process allows you to have a dedicated prospecting process without having to hold other responsibilities.
This allows the organizations to impart greater expertise in particular areas of sales.
To start with, you should be able to prospect the full circle of clients. This helps you to accumulate prospects in the right circle of influence.
This also makes sure that your sales teams have the requisite expertise in the concerned department.
This allows the pre-sales team to freely sift through a pool of customers, enabling you to focus on a list of a primarily good quality pool of prospects. It also ensures that your team is well-equipped to satiate any particular pre-sales inquiry.
Being able to develop and attend leads much faster
According to studies, the ability to faster lead attendance is a significant driver of conversion. According to HBR studies, 40% of opportunities remain unattendedeven after five days by a pre sales bid manager.
Needless to say, it’s a definite conversion killer.
A dedicated pre-sales team equipped with a unifying platform like CRM is an easy way to shorten the lead lifecycle. A dedicated presales process lets you segment and bring down the time required for processing each lead.
This also invokes a threshold for bad enquiry that saves your time from attending bad queries.
Better expertise and Resource Allocation in Managing Leads
According to Hbr.org, the bottom 5% of leads simply gets dropped due to insufficient presales resources. In hindsight, this may easily turn out to be your most valuable leads.
You can tackle this challenge through smart resource allocation.
The dedicated pre sales process flow lets you stack and allocate resources more productively. It also allows you to bring down the time required for attending each lead.
It’s also a definite factor that may influence the total ROI.
For example, your pre-sales team could be focused with product introduction, understanding essential features and pitching for the final closure.
Create a Repository of audience understanding
In a modern sales dynamics, understanding your audience has become as important as power dressing or crisp communication skills. With understanding your target audience, you can achieve great connection in a competitive marketplace.
If you have a specially equipped closure team, you may have better uses than exclusively focus on achieving particular closures.
This means that your closure team is not especially geared to manage sales, but to objectively manage your entire selling responsibility.
Foundation for a Robust Sales pipeline
All sales teams need to have a regular inflow of quality prospects to generate consistent revenue flow. This requires you to have well-oriented pre sales process.
Let’s demonstrate with an Accenture research.
According to the graph by Accenture research, almost 77% of the leads are generated by some form of inbound activities. (i.e., they are as a result of marketing or sales prospecting such as cold calling).
As these leads are qualitatively diverse, you need to have a definite system to identify and qualify these inbound leads.
You need to have a pre-sales team to identifying and prospect the right leads. This needs you to balance between lead quality and long term opportunity.
If you compare to the rest of sales positions, the pre-sales executives are paid meager and promoted less frequently. The position also requires handling and managing the high workload and data flow.
An integrated sales CRM platform offers a permanent way to improve your pre-sales processes. It allows you to control all responsibilities and streamline data flow to a unified interface. This also delivers you a complete overview that allows you to take optimal decisions in every intersection.