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Measure Sales Value 4 Ways

January 29, 2016 By Jan Triplett Leave a Comment

 

CEO Jan Triplett talks to owners about sales value.

There are good, better and best sales. You may have thought all sales are equal.They’re not if you are trying to build a successful business that is sustainable, profitable and transferable.

 Focus on Sales Value

Sales people (even if it’s the owner) need to concentrate on finding and getting sales that add the most value to the business. This requires a sales process that doesn’t just look at the dollars coming in from this sale.  It also can’t include only the costs — money going out, time to get and manage the sale, profit level, and any “hassle” factors.

4 Ways to Measure Sales Value

The value of each sale must also be measured by:

  1. Its ability to add to the reputation of the business and the product or service
  2. How it affects company image,
  3. Its ability to attract customers of the same or higher value to the business,
  4. How well it supports brand and company positioning.

Sales commission, bonus, and career advancement should be based on the salesperson’s ability to bring in good sales and to prevent spending time and effort on bad sales.

Use Sales Value to Prioritize

I have seen it written that 50% of all sales leads are not followed up. That sounds bad. What I don’t know, because they don’t say, is how many weren’t followed up on purpose. Maybe they were right!

Choose sales opportunities at your own risk. Choose wisely and succeed. Choose poorly and there are long term consequences.

Use Sales Value to Allocate Resources

Don’t go after every sale equally. Evaluate and prioritize those new leads, upselling opportunities, or repeat sales in terms of those with the highest value.

Also, make sure your sales process gives you and your salespeople a way to quickly identify bad sales opportunities that should not be pursued or only under restricted circumstances.

The less the sales value, the more likely it’s a bad deal or at least should not be given the same time, effort and resources.

In  the end, it’s the quality of each sale, not the quantity of sales that matter.

Here’s to your success!

Filed Under: Business Improvement, Business Process, Sales Strategy Tagged With: Resource Allocation, Sales Focus, Sales Priorities, sales process, Sales Quality, Sales Value

About Jan Triplett

Jan Triplett, Ph.D. CBTAC is an inventor, entrepreneur, author, and activist. Co-founder of an award-winning certified green business that focuses on improving the triple bottom line (profit, care for people and care for the planet) for small business clients.

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Leader: Jan Triplett, Ph.D. CBTAC
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Access Code: 685-053-101

Dave Nave, Dave Nave & Associates, and Licensed Clinical Psychologist Dr. Ann Sigafoos team up to tell you what to do BEFORE you start a project to improve your success
(Forums are held on the 1st Thursday of the month, 11am Central)

• May 19 BSC Wisdom Webinar, 11am Central: Sell Right, Part 2: Consumer vs Business Sales Strategies, a comparison and recommendations.
https://bit.ly/consumercommercialsales

The purpose of this webinar and practical work session is to focus on the differences in these two sales strategies. Share your experiences and expertise. Walk away with ideas and connections. You don't have to have attended the first session to get a lot out of this webinar.

Work session leader: Jan Triplett, Ph.D., CBTAC, and CEO of BSC, author, entrepreneur, advocate, speaker, and inventor.

June
• June 2, BSC Success Lean™ Forum, 11 am Central.

Suggest a business topic or question for the group to work on, help choose this month's discussions, provide feedback, and make connections. Led by Dave Nave & Jan Triplett

• June 16, BSC Wisdom Webinar, 11am Central. Sell Right, Part 3: Direct vs. Indirect Sales Strategies, a comparison and recommendations. https://meet.goto.com/291097373

Work session leader: Jan Triplett, Ph.D., CBTAC, and CEO of BSC, author, entrepreneur, advocate, speaker, and inventor. You don't have to have attended the other webinars in this series to benefit from this one.
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