The role of a good salesperson remains the same in every industry. For company owners, if your sales team are not turning good sales leads into actual sales then you need to figure out the reasons behind it, and quickly. A lost sales survey and consequent analysis is a great way to find the finer detail of existing problems. It could down to individual failure, a poor system or processes that aren’t quite hitting the mark. If you don’t know the reasons behind a failed sales approach you can’t fix it.
In order to improve your business it is important to understand all the processes relating to it. There could be a number of reasons why a potential customer hasn’t taken that final leap to purchase from your sales team. From your viewpoint all you can see is that a sale has not happened on that occasion, but without a lost sales survey you have no idea why. Not only did they not purchase from you but also you have no idea whether they have subsequently gone on to purchase the same, or similar, product or service through a rival company. In order to tweak your approach to be more successful in the future there are a few bits of vital information you first need to know and understand.
A lost sales survey will help you to shed light on areas of your process that could require improvement. By doing so you can help to smooth the process for a potential customer to become an actual customer, improving the rate of sales in the process. A survey with any quality will be able to identify those lost leads and historical customers who are still in the market for your product and service, allowing you to follow up with them.
There are a number of reasons why your company might not be closing sales at the rate you would expect. A lost sales analysis will dig deep to find specific faults for you to explore further and rectify.
One reason that sales might be lost is that your sales staff are not fully equipped to understand the desires and needs of your target market. By tailoring certain products, services and offers to a suitable audience you can increase the likelihood of sales increasing. If you don’t have a target market in mind a scattergun approach can be difficult to analyse. A good way to analyse and explore lose sales is to have a target market and to categorise and segment your potential customers.
All sales staff are following a script or pitch at first as it is a quick and easy way to provide them with the relevant information to start selling. However, a good sales team will include a wide range of characters, each able to work within the framework of the pitch without sticking religiously and boringly too it. Each customer is different and it is vital that your sales team understand how to go with the flow of each pitch and empathise with each individual.
Understanding that the sales process in your business has to be regularly analysed and tweaked utilising lost sales data will help your business grow, meeting the needs of your current and future clients.