Does implementing a sales qualification methodology lead to increased revenue and profit?
Sales organizations are looking for ways to implement and reinforce an evidence-based sales qualification methodology within their sales process. I continually hear how important it is to implement a structured sales methodology, such as MEDDPICC/MEDDICC, SPIN, and NEAT selling. Regardless of company size, vertical, or sales structure, it is almost always on the list of priorities each year but why doesn’t every sales organization have a sales qualification methodology implemented?
What prohibits sales organizations from implementing a sales qualification methodology?
Why is it so hard to implement a sales qualification methodology? It starts with RevOps, combined with sales leadership to lead the change, or it simply won’t occur. Sales are constantly feeling the pressure to build new pipeline and move deals forward with minimal evidence that the deal is progressing or that the deal will ultimately close. This pressure often leads to the “sales process” not being followed or documented. Other challenges that many organizations become trapped in is the amount of time it takes to:
- Build the sales process into their CRM, such as Salesforce.
- Train and enable their sales teams.
- Implement and create accountability across the sales organization.
I’ve heard from several sales leaders that their sales team must follow the identified sales process, but they have found it challenging to implement and reinforce. Suppose you are trying to build out an evidence-based process in Salesforce. In that case, you will likely require a Salesforce administrator to configure it, and then it is hard to get adoption because it can be difficult and time-consuming to update.
What are the benefits of an evidence-based sales qualification methodology?
Having documented qualification criteria allows both the rep and the sales manager to “self-assess” their progress to quickly understand the next best step in the sales process to gain advancements in the sale. Rather than continuations that just waste time. The benefits of an evidence-based sales process, such as MEDDICC, is that it:
- Accelerates your sales opportunity review process
- Drives consistency and transparency across the sales team
- Shortens the sales cycle
- Facilitates sales execution
- Identifies and points to the next best action.
This, in turn, leads to easier sales management, better coaching, increased sales discipline, and improves communications among the sales team. Focusing on an opportunity qualification process will ultimately lead to increased revenue as you are focusing on deals more likely to close and quickly disqualifying leads that were never qualified in the first place.
It’s old adage, quality over quantity. It will also lead to more accurate and reliable forecasts while increasing company profitability. Fewer pre-sales resources will be used on accounts and opportunities that will most likely never close.
Increase sales compliance and drive consistency with BoostUp.
Implementing a sales qualification process is a huge accomplishment. Still, many of those initiatives ultimately fail due to sales compliance and adoption, which usually comes down to the ease of managing and updating.
Enter BoostUp. We are pleased to announce that we’ve launched support for evidence-based sales qualification methodologies such as MEDD(P)ICC, with the option to create and implement your very own custom sales process.
Within BoostUp, easily name and map out your sales process in a few clicks. Your sales reps can easily update each required step directly inline within BoostUp. Your managers now get real-time visibility into deal progression and sales process compliance.
The inline sales process side panel accelerates your sales process reviews, improves compliance, and drives consistency across the entire sales organization. This natively built process encourages a more rapid and complete adoption of your new sales process. Rather than requiring extraneous work, the BoostUp platform streamlines the use of the MEDDICC or any custom sales process by providing a simple, easily understood, and easy to use method of utilizing it directly within the same space where a salesperson typically works.
This means that reps can complete the necessary fields in a minimal number of clicks, therefore requiring almost no extra effort or time to achieve the full benefits of the MEDDIC process or any other sales qualification process.