Often my clients will come to me wanting to know how they can make more money, or what they can do to close more sales. My reply is “Great! What is your current close ratio?” This question is met with a deer in the headlights response. Frequently, business owners are so busy keeping everything running, they don’t take the time to evaluate where their business is at and how things are working. That’s why it is so essential to track the right data. Knowing real numbers for your sales activities helps you predict real profits. This is huge for your business! When you know where you’re at and where you want to go, the right processes and data can get you there.
You Need an Awesome Sales Process
As we talk about sales process tracking, one word that should jump out at you is process. Every business needs a defined process in place for managing sales. You can start with a basic description of how you organize and direct the major steps of your sales process such as
- Lead outreach
- Strategy
- Sending Proposals
- Closing proposals
The next level includes thinking deeper. How and when are you using consistent scripts? When should you be following up? Adding the other pieces of your sales process gives you a better understanding of what needs to happen when, and helps you identify any holes.
Know How Your Sales Process is Working
Once you have a clear process in place, the next step is to track how that process is working. Why is this step so important? Sales process tracking makes it possible for you to
- Know what is working so you can duplicate it
- See which part of your process is broken and needs to be fixed.
- Identify which marketing platforms are actually converting into sales
- Know close ratios per sales person
- See real results for each activity in your sales process
- Be more motivated to complete each action, even those you are less excited about
- Project sales based on marketing dollars spent
- Use insights to reach goals
I’m excited to share my Sales Process Tracker with you! Join me as I show you how to use and customize this powerful tool for your business.
I’ll walk you through each step of setting up the spreadsheet and show you how to get the data you need. I’ve also included an Insights section to help you project sales and make marketing decisions. You can even take it to the next level by tracking sales per product and sales person, or dollars per lead and per sale. Tracking your sales process will give you the information you need to take your business in the direction you want to go.
For more free business tools and resources, join our Process Rehab Facebook group and check out the files section.
Do you have a sales process in place? At Business Made Simple, we specialize in creating processes that work. Schedule a Free 15 minute Strategy Session to talk through your processes.
Related: Creating a Sales System