Are you giving your most important opportunities due care?

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Welcome to number this series of articles reviewing some of the most common sales-related challenges faced by SME leaders last year.

In each article we will take on the key issue and offer some practical steps to help you to navigate through these in 2019.

If you are just joining us, you may also want to read:

Challenge #1 – Lack of visibility
Challenge #2 – Measuring the wrong thing
Challenge #3 – Focussing on one-dimensional activity targets

The challenge: not giving key opportunities due care until it is too late

At risk of sounding overly gloomy, another pitfall we come across far too often is a lack of focus on closing out key opportunities.

“I’m just waiting for the P.O”

…often followed a month later with a left-field reason why it didn’t come.

We understand that things happen in business. Annoyingly, the more we need an opportunity to secure, the more likely a curveball comes our way and we miss out.

How can this be resolved?

We encourage a process whereby opportunity managers conduct a formal assessment of opportunities which will have the biggest financial or strategic impact.

This is normally performed when an opportunity is somewhere near the middle of the sales pipeline (when a lot of information is known but gaps in your knowledge remain).

Challenge your team to document…

  • What motivates your customers to buy
    – Consider both organisational and personal level
  • How you will respond to these needs
  • The customer’s internal buying process

If your sales team can’t write it down, then this is normally an indicator of a gap in their knowledge. This is why we advocate a formal presentation of key factors for opportunities that hold a financial or strategic significance.

Once you identify the gaps, you can pinpoint the specific actions which will help you get a deeper understanding of the opportunity. This will give you an edge over your competitors and increase the likelihood of winning.

If you would like to find out more about implementing a formal assessment of opportunities which have the biggest financial or strategic impact, contact our team today.

Look out for our next article – “are you treating all customers the same?”

Next time, we will discuss challenge #5 of our most common sales-related challenges identified last year.

We will explore why the dangers of treating all of your customers the same and discuss how you can invest your sales efforts to customers who’s offerings are aligned to your needs.

To receive the rest of our key challenges facing SME leaders in 2018 (along with other helpful sales-related tips) directly to your inbox, subscribe to our Members List.

Do you have the tools you need for 2019?

BMC has provided sales performance services to business leaders and stakeholders for over 15 years. We quickly get clarity over your businesses real position, then focus on the areas which will have the most immediate impact on sales performance.

Contact our team today to learn more about how you can achieve better visibility of your business’s sales pipeline and lead your team to success in 2019.

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