Sales process management for Entertainment

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okay so let's talk about sales process for a couple minutes Wikipedia defines sales process as a systematic approach to performing product or service sales that produces scalable revenue and mediates risk by stage gating deals based on the collection of information or execution of procedures that gate movement to The Next Step so blue tide is not a sales methodology company there are literally hundreds of companies who can assist you in designing your sales meth methodology what we are interested in is supporting the mechanics of implementing whatever methodology you choose and the development of technology to support you in managing it with your team CSO insights conducts a survey of almost 2,000 senior sales Executives each year some numbers that came out in the 2008 report are that the vast majority of senior sales managers almost 90% believe in the potential for sales process to make an impact on Revenue production managers who report using even an informed normal sales process report a 5% better win rate than managers who do not use any sales process at all their incremental Revenue associated with a 5% better win rate is estimated to be over $2 million annually per rep but despite all this over 60% of sales managers do not use sales process we believe that there is a direct tie into another statistic that shows that only 15% of sales managers feel that their CRM system helps them drive more Revenue to help make our Point here here's an example of a company sales process there are basically three elements to it the stage names that map out the life of a sales opportunity from lead identification through to closed Revenue the information that the sales rep is requireed to gather at each stage and finally the procedures that gate an opportunity from moving to the next sales stage so the important Point here is that the information gathering and gating procedures are the nuts and bolts of a salesperson's daily routine the basic idea of sales process is to ensure salespeople perform these daily tasks within a defined process that has been proven to drive repeatable Revenue results sales reps capture their daily activities in the form of CRM task and event functionality for those not familiar think of the task and calendar functionality in Microsoft Outlook the CRM version behaves much the same way here's where the system breaks down CRM scatters task information all over the place it could be in accounts opportunities leads contact records and often they're just floating around at random not associated with any record at all and none of this information is on the forecast report because this information is not organized or accessible for managers to label them to inspect and guide their sales rep activity and make sure that they are adhering to sales process instead what sales managers do is inspect and guide their sales rep's activity verbally in other words there is no formal way to drive sales process and the CRM is is not participating in this support mechanism we feel what's needed is a properly designed forecast visualization that shows how accounts contacts and revenue opportunities roll up to an aggregate number and consolidate sales activity with the opportunities in a way that enable sales managers to quickly easily and intuitively inspect and guide the team on proper sales process so there will always be a human element in Sales Management and ultimately management must commit to consistently reinforcing sales process but technology also needs to step up and support those managers committed to Excellence in Revenue production