From prior posts, you’ve probably learned to value dynamic sales process, but would like more information on how to implement one.
To review, here are the differences between the two, reproduced — courtesy of CSO Insights.
Let’s explore the differences. In my last post, I discussed the management capabilities an organization needs to establish. The title graphic (the pyramid) above describes a progressive build-up of management functions common to both formal and dynamic sales process levels. Now, we will discuss the differences.
Bottom Line: Dynamic Process incorporates a series of feedback loops, with metrics feeding continuous process improvement.
Let’s contrast formal and dynamic sales process.
Lead Generation & Prospecting:
Formal Process: Social Selling enriches lead generation and prospecting, and companies coordinate social selling with the company CRM
Dynamic Process: Organizations prioritize targets before approach using “customer fit” metrics, and use likely value propositions. Social engagement reinforces these assessments, and CRM tracking fuels continual metric refinements going forward.
Lead Qualification:
Formal Process: Sales accepts leads, working, then prioritizing them. Fit vs. ideal customer profile is determined primarily during discovery.
Dynamic Process: Leads are scored by marketing before turnover using sales-led scoring systems. These companies prioritize, then work leads. Constantly reviewed and upgraded scoring analytics power prioritization.
Opportunity Pursuits:
Formal Process: Coaching to a sales methodology improves seller behavior and raises performance across the whole sales team. As discussed in my prior article, sales managers increasingly emphasize leading indicators: those which predict wins.
Dynamic Process: On top of formal sales methodology, dynamic process organizations deploy opportunity scoring systems using inputs from highest performing sellers. Key behaviors of elite performers form a set of easily measured and monitored behavior metrics. Dynamic process organization continuously verifiy, monitor, refine and improve metrics when possible. Opportunty scores also form the foundation of opportunity won/lost reviews. Continuous scouting, description, and metric refinement is part of the operating cadence of these companies.
Proposal Management
Formal Process: Proposals and RFP responses utilize mature playbooks with persona-based comprehensive content. Bid/no bid guidelines are clear, and management makes sure they are applied insightfully..
Dynamic Process: In addition to the above, the dynamic organization continuously evaluates Bid/no bid criteria using analytics derived from previous opportunity pursuits.
Relationship Management
Formal Process organizations are systematic about growing and deepening customer relationships. They elevate key account management to a cross-functional strategic planning process. Importantly, they co-create the evolution of relationships alongside key customers.
Dynamic Process: Dynamic selling organizations also proactively use social media and other sources to identify and research likely relationship map expansions. Organizations also augment these analytics with value mapping analysis (shameless plug for next week’s post!).
Funnel Management:
Formal Process: Funnel stage definitions use both selling and buying minimum actions. Managers coach the health of sellers business, using analytics like funnel shape, focusing attention and coaching effort on the deals that need it most. Managers draw on clear guidelines for funnel and deal coaching.
Dynamic Process builds on the formal process foundation: opportunity scores, built using analysis of top sellers’ best practices, enrich and deepen your front-line managers’ funnel management acumen. Managing to scored behavior helps sellers self-diagnose issues with their own funnels, accelerating improvement.
Product Management:
Formal Process : Product management uses opportunity pursuit methodologies as a common language to confirm customer/industry value gaps using and collaborate with sales.
Dynamic Process: Product management leverages value messaging analytics. They gain insight into customer/industry value gaps and trends and test possible product enhancements through value mapping with sales.
Summing up
As you can see, dynamic sales process uses analytics to create feedback loops. Analytics and monitoring feeds continuous monitoring and improvement .
Please share your thoughts on sales management and its impact on process and sales perspective. If you have any questions, please ask them below, or contact me directly.
To Your Success!