Sales audit can unlock the true sales potential in your business
Allowing You To Make Informed Business Decisions
Look at it this way…sales performance and business growth is best when it’s predictable, stable and positive.
Sales performance that bumps along, barely hitting target, fluctuating wildly or trends downward can put undue strain on any business.
The real danger is that complacency is a comfortable state.
Just about getting by every month is just that…getting by.
Head above water.
All the while, time is passing.
It doesn’t have to be this way.
Whether your pushing through a sales plateau, gearing up for a new quarter, wanting to refocus the sales function or simply curious to see if you’re running the most effective and efficient sales operation, then a sales audit should be your first step.
How would your business decision making change if you had in depth insight into your sales function, insight to such a degree that you could make informed business decisions on:
- How to increase sales performance within your business today
- Your sales function competency in terms of people, skills, process, practices and potential
- The real activity levels required to hit and exceed targets
- The relationship between activities, value added activities and profit generating activities
- Profitable sectors, targets and propositions versus unprofitable sectors, targets and propositions
- Eliminating fluctuating, inconsistent or erratic sales forecasts
- Improving sales results, profitability, average order value and turnover
- How your customer and prospect interface with your business
- Maximising up selling, cross selling, retention and win back
- Your CRM use (and abuse)
- Lead conversion across various criteria including lead source, decision maker type, sector, sales person, region
- Who in your sales team has the greatest potential to increase sales performance, versus those who should be performance managed
- Lead creation in terms of how you should be filling the sales funnel and with what quality opportunities in order to get the sales results you want, on a consistent basis
- Why you are dropping sales, why your competitors are winning business that belongs to you and what you could do about it
- Pricing dynamics in line with your value proposition
- Discounting – how prevalent is it, how to get rid of it and how to increase your prices and still win business
- Value creation, how robust is your ROI demonstration
- Sales Potential – what are your sales team sitting on that’s stopping your business growth and suppressing profits
And what’s your not knowing all of this actually costing your business?
A sales audit is your road map to improving your sales functions and business performance, it’ll show you what’s working and what’s not working, and what you can do about it…fast!!
Why Undertake a Sales Audit?
Over the years my clients have consistently told me that they valued the sales audit because it delivered key insights to help them to consistently increase sales performance, sales focus, motivation and has ultimately helped them to build a scale-able sales function.
Sales results invariably spike once the business focuses on key revenue generating activities consistently.
A sales audit helps them get firm wide attention on making the sales process and sales function as efficient and as effective as possible. It realigns sales activities with the business strategy.
My clients also tell me that the Sales Audit:
- Put them back in control of their sales function.
- Clarified their understanding around key sales issues and sales results.
- Helped them make better decisions within their sales strategy.
- Gave them a greater insight into the functionality and operational efficiency of their sales function.
- Showed them where the key issues were that were negatively impacting business performance.
- Gave them clear guidance on what to change and what they can leave well alone.
- Took the risk out of making changes in the sales function and the business.
These are all key to any business change program especially when you consider the cost of getting it wrong, like…
- Meddling with parts of the sales processes that are working well
- Putting sales staff under unnecessary stress to adopt new ways of working only to find out that wasn’t the problem after all
- Sending sales performance into a nose dive and losing clients as a result
- Wasting time and money on outputs that were already optimised
Your Sales Audit – The First Step
So, your sales audit is the first step on the journey to making both your sales function and your business work better.
That means, you get a insights in to developing better quality business, higher profits, greater turnover, more sales, bigger market share and a position of elevation in the competitive pool of suppliers all chasing after your customers and prospects.
You also start the journey towards improving your levels of business certainty, predictability, stability and security.
Those are important elements in today’s fast pace world where competitors can be across the world, government legislation can change at the stroke of a pen, or simply your key sales person could leaves…change is all around but it doesn’t need to cause chaos.
And, after all, your business deserves to be in the very best position possible.
You deserve that.
So…What is a Sales Audit?
In many ways, that depends on the problem identified, the manifestation of those problems and the impact of those problems.
A Sales Audit will strip and analyse the sales function’s performance – results, profitability, activity, pricing, conversions, lost sales analysis are just the starting points.
It will include interviews with the sales team, sales leaders, sales management and any associated revenue generating/customer interfacing staff.
The Sales Audit will also include a root and branch analysis on the sales funnel, sales pipeline and sales forecasting.
Work will be undertaken to explore the revenue generating business activity focusing on the:
- Target sectors
- Decision makers
- Sales proposition
- Sales process
- Competitor positioning
- Sales skills
- Key sales metrics
- Sales management and motivation
- Cross sell/ up sell frameworks
- Sales leakage points
- Lead generation
As well as any specific areas of sales and business development concern because after all, every business and business challenge is unique.
What’s the output from a Sales Audit?
Post Sales Audit you receive the following:
A Fast Action Pack containing:
- Full report on the findings
- In depth Sales Leakage Report – invaluable for Continuous Sales Improvement
- A detailed list of Problems, Consequences and Solutions
- A 30 day action plan addressing the key problems (key problems are those typically identified as being able to be resolved quickly, and where there will be the biggest positive impact on the sales results)
- A half day boardroom style Q and A session with key managers and directors from your business to discuss findings and how these fill drive an increase in sales performance, sales results, margin and revenues
A Sales Audit is not just about understanding what’s happened in the past.
A Sales Audit is a Gateway Event.
It’s vital in planning for the future.
- What potential does your business have for accelerated sales growth?
- How many of your competitors should you be beating every single time you compete?
- How is your service/product meeting the changing needs of your customer bases?
- What are the easy win lead generation sources you’re missing out on?
- What cross sales/ up sell opportunities are you missing?
- Where are you leaking sales in your sales process?
- Why are you losing business you should be winning?
- How are you making your business stand out from a sea of ‘me-too’ competitors?
- How effective is your lead generation and lead qualification process?
- Is your sales funnel working or is it just a parking ground for business of questionable value?
- Are your sales team creating opportunities or simply waiting for opportunities to come in via email/telephone?
- What’s your referral process?
- What’s your current average order value and what should it be?
- What clients/business should you ditch today and why?
- Is this really as good as your sales /business development function gets?
- What metrics are you using to measure sales effectiveness and are they the right metrics?
You see, a Sales Audit will give you as much detail as you need to sign post your growth, your value proposition, your pricing and your sales channels.
No sales audit takes place in isolation from the rest of the business therefore the first step to considering if a Sales Audit is appropriate for your business is to sit down and have a chat about the sales results you’re not getting because knowing what you don’t want is critical to any future success.
To book your no obligation meeting to discuss the sales results you’d like to see in your business, or if you have any questions or want to discuss your specific sales challenges, contact Carol on 0779 002 1885 or email firstname.lastname@example.org
You can also check out the Morton Kyle Sales Improvement Blog
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Now, call 0779 002 1885 and book your initial confidential consultation to explore how your business would increase sales performance and benefit from an in depth sales audit.