There is a misnomer in Business to Business (B to B) sales that there is some magical formula that will be a short cut to hard work and fill a sales pipeline with abundant opportunities. Thus, using this trick will miraculously save time and energy.
I’m amazed how many owners, sales managers, and sales professionals subscribe to this wing and a pray nonsense!
They employ any in vogue fad or electronic wizardry to generate leads and accelerate the sales process, seemingly anything to avoid the apparent commitment to hard work.
The simple answer is; understanding your numbers.
Here are a few questions to ask yourself that will lead to the “real” formula for filling your pipeline and using your precious time more effectively.
- What is your annual sales revenue goal?
- What is the sales revenue of your average customer?
- What is the number of customers you need to reach your goal?
- How many prospects do you need to make one average sale?
- What is the ratio of prospects to close one deal?
- How much time does it take from receiving a lead to close?
Answering these questions is the foundation for building a weekly, monthly, and annual sales plan that defines your sales activities to fill the pipeline. There is no magic!
Just understanding basic numbers and creating a routine schedule and sticking to it day in and day out.
NEALABC can help you through this simple process utilizing our proprietary LAP$ calculator. Contact our CSO Chris Neal at firstname.lastname@example.org for a free assessment.