Regardless of the current sales trend (declining, stagnant, or increasing), all businesses strive for additional sales. The proper analysis of sales challenges and the development of solutions to those challenges can result in improved sales. Sales analysis, however, to be effective, does not strictly come from a small business owner or top management but should involve everyone in the sales process. When allowed to participate in developing solutions, the sales team has greater ownership and motivation.
Depending on the size of the business and the number of salespeople, teams can be tasked with analyzing several key areas, diagnosing challenges in each area, and developing solutions to help improve individual sales performance. Team results can be compared for similarities and differences.
The sales team or teams can be tasked to review the following:
Buyer behavior
- What primary motivators do buyers want when purchasing the company’s products or services?
- What benefits or problem solutions are buyers seeking?
- How do most customers prefer to buy, what steps do they take in the sales process, who is involved, etc.?
Company strategy
- What markets does the company target? Why? What is working and not working?
- How does the business attract, engage, and acquire new customers? What is working and now working?
- Why does the business close some opportunities and not others?
Sales team performance
- What factors contribute to the sales team not reaching their goals?
- What factors contribute to the sales team not reaching their goals?
Possible solutions from the analysis
- What are the best types of customers to target?
- What are the most effective ways to get in the door?
- What produces the greatest impact on closing a sale?
- What are the best ways to access the decision maker?
- What key indicators are to know if the sales process works for a particular customer?
- How can it best be determined if a salesperson is likely to achieve his or her sales quota?
- How should salespeople manage themselves and their time to maximize results?
- How can management assist the sales team in achieving results?
- What type of training is most beneficial?
- What can best enhance the sales process?
- What key activities are most beneficial to winning customers and making sales?
- What are key indicators that the sales process is not moving forward with a particular customer?
Brainstorming among salespeople is a worthwhile endeavor that seeks input from those directly involved in the sales process. Through this type of analysis, other observations, in addition to the direct sales process, can be made regarding critical issues in a business that might positively or negatively affect sales. Some of these observations and issues might relate to:
- Employee turnover and morale among salespeople
- Sales training and product/service training
- Company position relative to the competition
- Access to management
- Brand recognition
- Training time for new salespeople
- Regular scheduled sales meetings (or no meetings)
- Profile of best customers
Next Sales Plateau
Sales challenges must be overcome before sales can reach the next plateau. When the sales team works as a cohesive unit, both evident and underlying problems and issues can be resolved. Rather than simply hoping sales will improve, imposing higher quotas on salespeople, terminating those who don’t meet objectives, and/or hiring new salespeople without adequate training will not consistently achieve desired sales goals over time. Businesses that spend adequate time with a structured approach to solving sales challenges see their efforts pay off with increased revenues, higher closing rates, motivated salespeople, and higher net income. So, don’t be content with current sales. Look for ways to reach the next sales plateau.
