First Concepts’ unique 360 Degree Comprehensive Revenue Investigation of the sales force, sales management, customer perceptions, and marketing support to identify unrealized potential and develop a plan to increase sales
Every sales force has a bundle of untapped potential. While some have greater potential beyond their existing performance than others, the vast majority could generate 20% to 40% more sales than they are currently producing. That potential is often buried in a host of different barriers, problems, and issues. It’s usually not just one thing or in just one area, but often a series of elements that may be connected to each other. That’s what First Concepts has learned as Revenue Detectives for the last 26 years, and we can help you increase sales with our vast array of knowledge and expert consultations.
At the core, management does not know what is causing every prospect to say no. Surveys of prospects after they have made a decision to buy reveal that prospects only tell salespeople the truth about why they lost the sale in 40% of the cases. In 60% of the cases, salespeople and management do not know why the sale was lost. Knowing those answers and what caused them could help dramatically boost revenue above long term forecast.
Sales executives are usually maxed out, pushing their team for more sales, and may not be aware of some of the issues affecting sales force performance or know the best way to address them. Some of them require a perspective that goes beyond a narrow focus on the sales function itself. Some of them require an objective, third party investigation to uncover.
First Concepts prides itself on the depth and thoroughness of its revenue investigations, which identify the root cause behind current results and the barriers to improved results while generating original and creative ways to produce long term, sustainable sales increases. This 360 degree investigation addresses the A to Z issues affecting the sales force’s ability to get in front of more qualified prospects and convert them into sales.
This revenue investigation can include the following:
- Travel with sales people to observe performance and interview about their issues
- Interview existing and prospective customers to understand perceptions and competitive issues
- Conduct post decision win/loss interviews with prospects
- Research competing companies and what they offer
- Interview and spend time with every member of the sales management team
- Interview the Chief Marketing Officer and others in marketing
- Review everything sales management does
- Review selection practices for sales people
- Evaluate compensation and incentives
- Evaluate CRM and account management
- Evaluate sales methodology and process
- Evaluate training and sales force development
- Evaluate sales force performance by sales person on a variety of measurements
- Evaluate the effectiveness of sales meetings
- Evaluate the effectiveness of all communications to sales people
- Evaluate field coaching, reinforcement, and goal setting methods
- Evaluate the quality of leads, how they are handled, and conversion rates
- Evaluate the source of leads and how marketing generates them
- Evaluate the relationship between sales and marketing
- Evaluate the relationship between sales, marketing and the CEO/COO/President
- Review market share, competitor’s market share, and changes over time
- Evaluate effectiveness of sales strategies over time
- Evaluate sales plans and how well they have been followed
- Evaluate historic patterns in sales budgets for actual sales
Through this 360 Degree Comprehensive Revenue Investigation, the issues that are holding the sales force back from achieving their full potential are identified. Working with management, First Concepts will develop a plan to address every issue in an integrated way that will raise the performance of sales management, marketing management, and the sales force over the long term. The goal of this effort is to develop a plan that will enable the company to increase its market share.
Once the plan has been approved, First Concepts assists in developing and implementing solutions, as well as selecting additional vendors where necessary to address specific parts of the plan. First Concepts remains involved through execution to ensure everything is done, done right, and properly reinforced by all levels of management.
Schedule a phone conversation with Don Shapiro, President of First Concepts Consultants, Inc., to answer your questions and explore how a comprehensive assessment can give you the facts about how and where your sales can be increased.
Learn more about the Revenue Detectives conclusions from 30 years of research about why people buy, why top sales producers sell more and how salespeople can apply this knowledge to increase their sales.
Read the article about a systems thinking approach to sales management which forms the foundation for this investigation and planning approach: How To Get Your Sales Force To Sell More In This Economy
Want to start with something that will get sales moving within 6 months first before you consider a full revenue investigation? Check out our Sales Training & Management Reinforcement System or a Customized Executive Workshop On Revenue Generation.