Even though the modern day concept says that sales is not a number game, the sales professionals should definitely know their numbers, to rate their own performance, identifying their weak areas and focus upon strategies for improvement.
Here, we have taken a generalised sales cycle, normally applicable to organisations.
|Sl No||Process||Explanation||What numbers mean||Actual Numbers per day or week or month|
|1||Identifying the target market||Collection of database||Number of people in the contact list||?|
|2||Prospecting- Cold Calls||First time connection with people||Number of people whom you have contacted.||?|
|3||Qualifying||Showing interest in the product or service.||Number of people who have shown interest in the product or service.||?|
|4||Meeting||Needs and Wants Identification||Number of people who had actual needs and wants for your product or service.||?|
|5||Presentation||Giving an explanation or demo about product or service||Number of people to whom you could give presentation.||?|
|6||Objections||Questions, Queries and doubts about product and service||Number of people who raised objections after presentation.||?|
|7||Handling Objections||The ability to respond convincingly for objections||Number of people with whom you could satisfactorily handle objections.||?|
|8||Trial Close||Trying to find out if the customer is fully satisfied and is ready to go for the product or service||Number of people who seem to be fully convinced for purchase or service.||?|
|9||Secondary Objections||Further queries asked when the sales professional attempts a trial close.||Number of people who came up with secondary objections.||?|
|10||Close||Asking for the Order||Number of people with whom you have you closed the sale.||?|
|11||Referrals||Prospects suggested or advocated by your satisfied customers.||Number of referrals you have derived for sales||?|
|12||Repeat customers||Satisfied customers who once again come for your product or service||Number of repeat customers with whom you have sales.||?|
The usage of this sales table with numbers will let you know about the progress or decline of your sales.
- The comparative study of this on a weekly basis will be a motivator for you, as you tend to improve your numbers with relevant parameters.
The numbers are indicative of your strengths and weakness; say for example a sizeable number of referrals and repeated customers are indicative of your strength in relationship selling. On the other hand, if all the prospects come upon with several questions and doubts once you go for the trail close, and then it indicates that you need to better yourself in objection handling.