In The World Of Sales, Is Standing Still Moving Backwards?

Thanks to our good friends at Sales Training Consultancy Motiv8 for this thought provoking guest blog.

The world turns, things change and new opportunities appear on the scene. Some organisations continue to do things the same way they have always have and cross their fingers. ‘We’ve always done it this way and it works’ is their motto. Others make plans and try using different approaches, some work better than others. Then they leave the plan untouched without reviewing or updating it and expect it to hold fast. Is such a policy ever justified? With an ever changing world should traditional sales strategies be revised? and where should you start if you want to improve?
Most well run successful businesses perform a financial audit every year. Great businesses also complete a full SALES AUDIT.

So, what is a Sales Audit, why is it important and why should YOU do it?

A sales audit will give you an in-depth view of the strengths and development areas relating to the sales strategy of your organisation. The overall goal is to identify and confirm the many things your company is doing right, to flag problem areas, and to recommend specific steps you can take to improve them. The sales audit process is designed to improve and accelerate sales performance, and you and your team will gain insights that can power revenue growth for years. The sales audit provides a new perspective on your market, your sales strategy, and how you organise the selling process—as well as practical advice for helping your company to live up to its potential.

Key benefits are:

Increased Productivity
Reduced Cost
Generate Higher Margins
Efficient Sales Management
Improved Data Accuracy
A formal sales audit process can make the difference between
success and failure for the following reasons.
Sales and marketing are the core drivers of growth and profit. Improvements in
sales and marketing can have a significant impact on the bottom line.
A third party SALES AUDIT provides an external, objective review of the process.
Sales and marketing costs represent significant expenditures in most organisations.
Reviewing the efficiency and effectiveness is a prudent part of management and
financial discipline.

Key aspects of a SALES AUDIT

A SALES AUDIT should encompass these key aspects:

Features, Advantages and Benefits – What are they and does the product/service have benefits that are understood by the potential audience
Sales Infrastructure – what if any support infrastructure is in place to make sales possible?
Sales analysis – KPI’s and forecasting?
Sales team analysis – is the sales team structure and management in it’s current format capable of producing the required results?
Sales individual analysis – is each individual salesperson equipped to ensure success?
These elements create the framework upon which to build your evaluation and take a step towards evaluating how to stabilise and/or increase sales. Once you appreciate the areas that are working well and those that need to change you can develop this into an action plan to make your improvements.

Features, Advantages and Benefits
What business problem or need does the product / service/ solution solve?
How does it solve the problem?
Who has this problem and why?
What is the return on investment for the potential customers?
What are the characteristics of an ideal customer?
What is the best way to approach to them?
What do you need to “sell the story?”
Are case studies available?
Are testimonials available?

Sales Infrastructure
What skills, experience and expertise is required to sell the product?
What is required within the business to support the sale of the product / service/ solution?
Is it working effectively?
What systems are in place for tracking sales effort and customer activity?
Referrals and Lead Generation

Sales analysis
Who are the Current customers?
What is their profile?
What percentage of customers are Repeat Business versus New Business Acquisition?
Pipeline Management
Lead generation
Conversion rates
Cost of Sale
Sales Lead Times
CRM/Sales Database Management

Sales team analysis
Targets, Incentives, Recognition and Rewards are they clearly defined, understood and working effectively?
Sales Process and approach, is it effective and consistent across the team?
How are sales opportunities qualified and when?
Is forecasting accurate?
Staff attrition?
Is the sales management supporting the sales team?
Are sales meetings effective?
How is under-performance managed?

Individual Sales Performance Analysis
Who are you best sales people?
Why?
Is this information used in recruitment?
How often and how are sales people reviewed?
Are development plans in place for each individual?
Does each salesperson have sufficient knowledge and skill to do the job?
Is every sales person representing the company correctly?
Can YOU complete the sales audit internally?

Yes you can, however you need to seriously consider whether the expertise to take a strategic look at your sales processes or to look at it from a new perspective exists within your business. In the same way you would call on an expert to diagnose a health problem it’s always best to use the correct expertise to health check your company. Once you have the results of the sales audit you can do one of three things.

Ignore it, choose not to do anything. Try and fix it yourself
OR
We can help you

Motiv8 Solutions have many years of expertise in this area serving SMEs, ambitious corporates and investor-backed businesses. Our methodologies are proven – we carry out logical, systematic audit’s and deliver a full report on our findings.
We are flexible in the way we work with clients, and offer solutions that are designed to suit specific needs and circumstances. Our team are sales, marketing & business development experts, from diverse markets and backgrounds.Our methods ensure results because, unlike other consultancies or agencies ,we have experience across the whole sales spectrum and can develop bespoke solutions to meet your precise needs & aims.

Motiv8 Solutions Ltd
www.motiv8us.co.uk
0845 548 3700

Testimonials

Mervyn continues to be great support to both myself and the business in achieving our growth ambitions. We have benefited hugely from his forward thinking, guidance and energy and look forward to continuing this in the future. I would have no hesitation in recommending Mervyn and Cameron Carnegie if you have plans to scale your business.

Ian Joy , Managing Director ERG Scotland Ltd

Once we decided to source training for our Business Development and Account Management teams, we turned to Cameron Carnegie for assistance. I was initially a little apprehensive about the training taking place digitally, but Merv delivered an excellent, engaging training course really ensuring that he took time to involve each member of our team, providing them with simple tools to use going forward. I was genuinely blown-away by the improvement across all of the team and I wouldn’t hesitate to recommend Cameron Carnegie if you are looking to improve the performance of your Sales Team.

Matt Nicoll , UK Commercial Manager Swire Energy Services

"We engaged Cameron Carnegie to undertake some bespoke training to upskill the team in the areas of Sales & Account Management. The solution was tailor-made to suit our business and we are all delighted with the results which have been easy to quantify and measure. We would definitely engage Cameron Carnegie on similar assignments and would have no hesitation on recommending them."

Scott McIlwraith , General Manager - Renewable Energy Kuiper

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