Business Process: Organizing and controlling the commercial process makes a lot of difference in a company’s participation in the market.
It is an important challenge to be faced by any manager. Thus, the organization differentiates itself from increasingly fierce competition. This attention to the commercial process also boosts customer loyalty, ensuring stability and sales growth.
The business process consists of practices that will:
- from the search for potential customers – to prospecting ;
- they go through all the steps that lead to closing the deal – the sale;
- to follow up after the sale, to retain customers – the after-sales.
It is worth mentioning that today, regardless of the characteristics of the commercial process implemented, it must be aimed at the buyer. In other words, focus on the customer.
Did you have questions about how to adopt these practices in your business? So now check out 10 useful ideas to organize and control the business process.
Understand How The Company’s Sales Are Made
Seek to understand the sales process that takes place in your company. It is necessary to have a well-defined model of the organization.
Are they actively prospecting in an Inbound Sales format? Is there a strategy to attract interested parties along the lines of Inbound Marketing? Or is it a hybrid, Y-shaped model? This understanding is among the first steps to effectively organizing and controlling the business process.
Have A Defined Business Approach
Depending on the complexity, different approach models can be chosen. By the way, they must be following the sales process. One possibility is for this process to be carried out entirely within the company, with no displacement of salespeople. This modality favors cost reduction.
It is also possible to adopt the model with external visits and meetings. That is, with the sales team on the go most often. It may be less advantageous regarding cost and time, but it ensures direct contact with prospects.
Learn How Marketing Participates In The Process
If a company wants to control the business process effectively, it must understand where, how, and when marketing participates. After all, it is a sector of great strategic value, part of prospecting, the purchase journey, and post-sales.
Controlling The Business Process Is Monitoring Results
The efficiency of the sales process should be evaluated regularly. It is necessary to observe, for example, the average sales time, considering the entire process. Namely, the sales cycle. The time spent during the negotiation is directly linked to the investment made with the client.
CAC, or cost per customer acquisition, is another metric related to this cost. Reducing this cost involves spending on marketing and sales to obtain more resources to seek customers.
There is also the financial return obtained from the customer throughout their relationship with the company. LTV, or Lifetime Value, is another key metric in business process control.
Have Defined Metrics To Track Weekly And Daily
These metrics should monitor salespeople’s performance, find difficulties and provide solutions. In addition to being useful in controlling the commercial process, the regular monitoring of results helps to motivate the sales team. And this is valid even after exceeding the stipulated weekly or monthly goals.
Some of these metrics, among others, are:
- the number of prospects in the period;
- the possible deals;
- closed deals;
- conversion rates at various stages of the sales process.
Qualification Of The Sales Team Is An Investment
The company that invests in improving the sales team guarantees benefits for the commercial process – both for the organization and the control. In addition, it avoids being outdone by the competition. Quality training offered to salespeople creates a productive culture and does not necessarily entail high costs.
Decisions Must Be Clear And Well Communicated
All steps need to have the information organized to control the business process. The team must know past, present, and future relationship actions for customers, prospects, and decision-makers.
This increases the quality of the company’s relationship with those involved. And it ensures better planning before any contact or meeting.
Have A Structured Sales Funnel
How the company attracts or approaches prospects must generate many potential customers. The volume of these potential customers, duly qualified and contacted during conversations and negotiations, will decrease throughout the process. This happens until the end of the funnel when the sale is made.
It is important to consider the design and monitoring of this sales funnel in all its stages. It is a valuable tool for organizing and controlling the commercial process.
Count On A CRM Platform – Customer Relationship Management
Organizing and controlling the business process is immensely facilitated with the use of technology. There are several alternatives on the market. A CRM allows for easy and streamlined control of the business process, including:
- all customer and prospect data;
- communication history;
- visualization of the stage of each customer in the sales funnel;
- elimination of repetitive tasks;
- better control of the commercial process in real-time.
In addition to agility, using a CRM can help identify bottlenecks in the process and thus optimize different stages. Implementing a CRM platform is a great tip for organizing and controlling the commercial process.
Also Read: What Do You Need To Know About B2B Sales?