Sales performance of the organization is driven by many factors.
There are many external factors which determine sales performance but quite a few internal factors also matter a lot.
Unfortunately, in organizations, these internal factors are neglected. Among the internal factors which affect sales performance, one of the key element is competencies of the sales team and capability gaps that exists.
In the article we describes what are those internal factors in terms of competencies and capability gaps that drive the sales performance.
What are those internal factors which drive the sales results?
To succeed in any market place with a company adopted business model, the sales forces requires knowledge, skills and competencies.
Capability gaps exists because sales force lack the requisite knowledge, skills, or capabilities to implement the most appropriate customer acquisition and retention process for the company’s marketplace and business model.
The ideal customer acquisition and retention process, in turn, depends upon responding most appropriately to the company’s selling environment.
Different competitive environment requires different selling process. For example, Insurance is sold differently from Pharma, which is sold differently from selling software or engineering goods. Depending on the business model, product, successful sales force must continue to focus on the development of 3 key areas.
Knowledge
Knowledge is something that needs to be continuously upgraded. Markets are extremely dynamic with new competition, regulation, product updates, buyer requirements changing.
Seller to be productive in sales and get consistent results must have relevant and up do date knowledge of the following :
- Product
- Customer
- Technology Tools – database, information management, and tools
- Company policy, values, and culture
- Competition
Traits/attitude
Sales also require some long-term qualities or traits that need to be developed. This again depends on markets but in general, a top 1% salesperson is someone who develops his own attitude,
- Being research-oriented of customer and industry research
- Business expertise in terms of customer and account profitability maximisation
- Process-oriented in terms of development and best selling process
- Analysis skills, both Quantitive and qualitative Analysis of sales
- Problem-solving Mindset
Selling Skills
Selling skills are similar to cycling, swimming the ones acquired remain with you. It just needs regular brush up.Acquiring the first time these skills is not easy as many don’t come naturally to individuals.
But it can be learned. Lack of practice of selling skills means, your wrong behaviour shows up during buyer interactions and costs you sales. These are some of the crucial capabilities that every sales team requires to close high-ticket sales.
- Prospecting | Outreach to strangers
- Needs identification by asking questions
- Listening
- Persuasion
- Presentation
- Negotiation
- Closing
- Time and territory management
- Account management and expansion
The role of salesforce training is to provide salespeople with an opportunity to overcome deficiencies wherever they exist.
On the success training, the capability gap must reduce significantly and team must be able to perform to achieve significant success
