PowerPoint Presentation

Climbing To SUCCESS

Revenue Management & Your Sales Funnel

Should Sales be a guessing game?

It reduces failureReduces riskprovides safety

The Three Sales Funnel Categories They flow in, through and out of the funnel.

Suspects (Leads)ProspectsCustomers

The Prospect

Prospect Pipeline

The prospect is a person or company who is talking with a representative and providing information related to their needs and shows interest in learning about the offered services.

Sales Stages Overview Each sales stage within the sales funnel has distinct criteria to help you know where you are at within the sales cycle.

PROPOSAL: During the Proposal stage, the sales representative has a full understanding of the customers need(s) and their specific requirements; they are developing the proposal, which includes an optimal service solution and pricing. The decision-maker has committed to reviewing a formal proposal with pricing. The sales representative may be negotiating the final terms and conditions of the agreement in order to finalize the details in preparation of the signed Service agreement (customers contract). The probability of closing the deal is estimated at 70%.

VERBAL: During the Verbal stage, the customer has provided a verbal commitment but the sales representative has not obtained a signed Service Agreement (customers contract). They have a scheduled next step (i.e. a follow-up meeting or sent a Service Agreement for signature) to obtain that signed Service Agreement (customers contract). The probability of closing the deal is estimated at 90%.

CLOSED WON: The sales representative has won the business and if required, has obtained a signed Service Agreement. The customer has agreed to all terms and conditions and they are attending to all set-up and delivery activities to ensure a seamless transition. CLOSED LOST: The customer has decided not to award the business. Before the sales representative updates the sales stage, they should follow up with the customer to solicit feedback regarding their final decision and request to stay-in-touch. If the business was awarded to a competitor, they should gather information about the competitor, the contract expiration date, and the competitors value proposition. While the sales representative lost the business, they will want to pursue them again in the future. To ensure this is done, they should create a follow up activity in Salesforce.com as a reminder to initiate the sales process. When they begin to pursue the customer again, the opportunity begins at the start of the pipeline.

Identification of a prospect that might have a need that you can fillYouve talked to the prospect and they do have a need that we can provide a solutionYou meet with the prospect to define their exact needs and get all the data to create a proposalYou create a proposal based on the qualifications you have been given from the prospectThe prospect says Im going to give you the businessYou receive a purchase order or contract from the prospect and they now can be called a customerThe sales cycle

Sales Stage Stage ValueLead0%Qualified30%Discovery40%Proposal70%Verbal90%Won100%

Funnel Stages

Sales Stage Stage ValueLead0%Qualified30%Discovery40%Proposal70%Verbal90%Won100%

These % will change as you learn your success ratios within each stage. The %s presented are the average .

Activity: Day in the Life of a Sales RepresentativeOn the next slide is a quiz representing a 30-day calendar containing a set of prospecting activities performed by a sales representative as they target a new business pursuit. Given the calendar activities, identify the appropriate sales stage. Decide if a sales representative should enter the activity as a Task or an Event in Salesforce.com.

21

Climbing To SUCCESS

Revenue Management - Your Sales Funnel