Big business selling secrets – Advice for SMEs
Systems create value
Whilst more has been promised in the past many years for CRM (customer relationship management) and ERP (enterprise resource planning) systems, high-performing big businesses utilise systems and turn technology into advantage. It goes beyond “one view of the customer” (a vision still beyond many major companies and SMEs) but includes accurate, transparent and real-time performance reporting and pipeline management.
Mature and affordable technology is available to automate and integrate sales processes. Best practice includes easy fulfilment of collateral, preparation of quotes and proposals and delivery of tailored presentations for both face-to-face and remote delivery. Most importantly, technology providers or partners to successful sales businesses see themselves as enablers and are distinguished by a culture of service and innovation.
So, what can you do about it?
The good news is that each of these ‘secrets’ can be addressed by you. SMEs do not necessarily have to spend more to tap into the secrets that make big business sell so well.
Perhaps the answers became evident to you as you read this article. The first secret is culture, and exceptional cultures can exist in the smallest start-up, and rarely in the multinational. So start with culture. At Sales Positive we say “the bottom line starts at the top” and a strong sales culture is a reflection of strong leadership.
It is not just about how much money you spend. For example, with reward and recognition you can simply take the time to honour the efforts of sales excellence, and consider freeing up some more of the upside in profitable transactions as bonus. For a start, this approach is self-funding, and your margin returns actually increase when you have a well crafted incentive scheme that measures and rewards the correct outcomes.
Infinite resources for best practice knowledge exist on the internet, however the quality and relevance may be limited. A great way to update yourself on best practice and trends is to ask. Take up the offer from a sales consultant to share what is going on in the profession. Speak to the big business sales representatives that call on your business, and ask them what they have learnt from their company that makes them successful in sales.
Processs is about discipline and effort in defining the right process in the first place. Best practice is the courage to challenge a process and find improvements. Again, there are excellent business process re-engineering consultants that can provide advice, and bid to assist you with this process. The investment will require a business case but can be demonstrated to create value.
With technology you should seek simplicity, not complexity in a solution. Best practice reporting can be as simple as transparent daily actual versus budget reporting, at a gross margin level, by rep, area and/or product line from a system that provides a single view of the customer. It does not sound like a lot to ask, yet many organisations, big and small, fail to deliver on such a basic requirement.
The good news is that Web 2.0 technologies are significantly mature and cost-effective, removing the cost barrier that previously restrained SME from using the internet as a source of competitive advantage.
The competitive advantage of SMEs often arises from their ability to innovate, move faster and offer personal service to their clients. And yet big business continues to dominate markets and secure growth. The 5 Secrets of How Big Business Sells Well illustrates common themes for big business best practice. As knowledge is power, you have the ability within your organisation, no matter how small, to learn from the best and to achieve sustainable profitable growth from your investment in the selling function of winning and keeping customers.
-John Huggart is managing director of Sales Positive (www.salespositive.com.au). Founded in 2007, the company has a simple and clear mission: to help companies profit from sales, and achieve growth.
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