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Road Map to Profitable Sales
Secrets of Successful Selling
Originally published in: WPI Venture Forum

Successful selling requires significant planning, the objective of which is to build a better sales process that is permanent, persistent, predictable and profitable. Sales productivity improvement will result from an integrated plan where the people, the process and the programs are all aligned. Here's a ten-step approach to make sure you get the results you're looking for.

Fix your sales process, then benchmark your salespeople
The process must be defined and documented. Careful consideration must be given to business development, channel management, forecasting and reporting. Predictable, easy-to-replicate selling steps help salespeople stay focused and motivated.

Practice before-the-fact planning, not after-the fact analyzing
Resource expenditures on activities such as trade shows, advertising and direct marketing must be tied to expected revenue generation. Simply throwing money at a program does not guarantee success.

Correlate current sales activities with future revenue and profits
When you measure the sales activities that lead to the dollars that salespeople generate, you avoid rearview mirror management and eliminate the hockey sticks of forecasting.

Balance high tech with high touch
High touch refers to a high level of personal contact - telephone calls, sales calls, e-mails, correspondence. When these activities are combined with high tech enhancements (databases, sales force automation, etc.), higher sales are the result. Technology makes you efficient, but the process makes your effective.

Separate selling activities from non-selling activities
Non-sales activities include cold calling, early-stage prospecting, attending meetings, writing letters, resolving credit problems, etc.

While important, these activities cause salespeople to fall into the trap of the number one reason for sales failure - not being there when the customer is ready to buy.

Companies should delegate non-selling activities to less expensive personnel and free up salespeople to do what they were hired to do - sell.

Design closed-loop systems that measure performance
Systems must be put in place to measure and benchmark your employees. Goals and rewards should be set with these measures in mind.

Never overpay for under performance
Enough said!

Maintain contact with your prospects until they buy or die
90% of salespeople give up before the customer is ready to buy. Manage relationships over time to create a high-performance organization and extraordinary value for customers.

Reward only the activities that drive your top and bottom lines
Salespeople should be paid to sell, not to manage commissions, resolve credit issues or respond to general inquiries. Make sure your salespeople know their jobs and goals, then help them to achieve those goals.

Master the power of referrals
A simple referral can turn a cold call into a hot lead.

Let this ten-step process give you predictability and peace-of-mind!