Over the past 25 years, the sales function has undergone drastic transformation. Gone are the days where a company would hire one person to perform all aspects of closing a deal - research potential clients, initiate contact, walk buyers through their product/service, negotiate contracts, and sometimes even manage accounts post-sale.
Sales leaders now recognise the advantages of distributing responsibilities across a team, a departure from outdated best practices. The decision to change was based on the flawed nature of the former approach, for several key reasons:
One person typically can't handle all tasks at the same time. As a result, when a sales rep gets busy, proactive outbound sales is often the first thing to drop off.
Itâs rare to find someone who enjoys and is good at the back-end tasks of a sale such as researching and prospecting, while simultaneously being adept at copywriting, AND a skilled negotiator who knows how to close a deal. Ideally, they also need to excel at utilising technology to drive efficiency, and to have strong interpersonal skills for account management and client retention.
Companies invest in a senior salesperson to represent their brand confidently and effectively when meeting potential clients. Itâs uneconomical for them to spend more than 50% of their time on non-selling tasks that can be managed by a less experienced colleague.
Today, the sales function can be broken down into several key stages that make up the complete sales journey:
1. Research đ
Researching to identify which companies and individuals to target.
Who performs the role: Sales Development Representatives (SDRs)
Average UK Salary: ÂŁ30,000
Major Challenges: Establishing your Ideal Customer Profile (ICP), Identifying reliable data sources
2. Prospecting đŹ
Reaching out to these targets through various channels.
Who performs the role: SDRs
Major Challenges: Finding the right leads, crafting compelling messages and securing follow-ups. Itâs noisy out there and the battle for attention is intense!
3. Discovery and Qualification đ§
Uncovering the prospectsâ needs and their suitability as a potential customer.
Who performs the role: Account Executives (AEs)
Average UK Salary: ÂŁ36,000
Major Challenges: Understanding customer needs and ensuring they are a good fit. Itâs always best to lose early but itâs difficult to say no, especially when chasing KPI targets.
4. Demo/pitch đ
Presenting products or services as solutions to the prospect's needs.
Who performs the role: AEs
Major Challenges: Product/market knowledge, creating persuasive presentations, and addressing concerns.
5. Closing đ
Finalising the deal and obtaining commitment from the prospect.
Who performs the role: AEs
Major Challenges: Overcoming objections and negotiating the deal.
6. Account Management and Post-Sale Service â
Managing and providing ongoing service to newly signed clients.
Who performs the role: AEs
Major Challenges: Ensuring client satisfaction and retention, and upselling/cross-selling.
There you have it. A successful sales journey is a fascinating blend of science, craft, and art, that takes skill and practice to master. And we love it!
With time, patience and sufficient in-house resources you can absolutely manage this yourself. Donât have the time or tools for outbound sales? Send me a DM and letâs have a chat! đżđ
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