At SalesProcess360, we put a premium on processes around the front end of the sales cycle, which includes lead and opportunity management.
Quotes and orders make up the back-end of the sales cycle, and that is where most distribution companies spend their time.
What’s wrong with managing at the quote stage?
Managing at the quote stage, and not earlier in the sales cycle, is reactive, not proactive. The customer is driving the process, and in many cases price is the determining factor. Many distributors also find themselves being the third bid simply because they entered the process too late.
Take a step back and recognize that the most critical point in the pursuit of sales is between the opportunity and quote stages. If you put focus on the front end of the sales cycle you control your business. The opportunity stage involves qualifying a lead and identifying what the customer’s true needs are, and it’s where you differentiate yourself from your competitors.
(Learn more about sales opportunity management: How Do You Define a True Sales Opportunity?)
Don’t become the customer’s source for a third bid. Get in the game earlier, and you’ll see higher hit rates, less wasted time and increased sales.