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PA IN THE MEDIA

Danish companies don’t exploit their competitive advantages

Read the full article in Børsen here.

Over the past decade, the efficiency of business-to-business sales has fallen steadily. Companies complain regularly about that. It affects both market share and competitiveness, and puts profit margins under pressure.

This is mainly due to three factors:

  • digitisation creates complex purchasing patterns that need tailored solutions
  • purchasing departments are more professional and have greater expertise in procurement
  • sales organisations aren’t professional enough and there’s no focus on constant improvements

Companies that focus on best practice in sales, despite increased efforts to reduce costs, have demonstrable success. But when we asked 70 Danish companies whether their sales organisation is using best practice, most said no.

To overcome this, there are three simple recommendations to follow.

Use existing systems to create the framework for a process

It’s interesting that most Danish companies spend money buying the right systems, but no effort is made to get integrated utilisation across departments. There’s a sea of ​​useful information in CRM systems if:

  • they’re used
  • they’re made easy to use
  • the data entered is analysed and communicated.

The advantage is that most systems today can set the framework for a sales tactic. The system provider is probably interested in telling what features the system has now, and what extra features can be added.

  • use the information to document a sales tactic or sales process
  • use benefits to ensure vendors use the tactics
  • use the positive stories about using data to lead the sales department.

Create the framework for knowledge sharing in the sales department

The most important resources in sales are those you already have. Most employees want to contribute to the company's overall goals, but they can’t because the systems and processes don’t allow it. If systems and processes are temporarily paced, employees get a creative free space to work with relevant issues:

  • give all employees 48 hours without monitoring once a quarter to work on existing issues and present the solution to the rest of the department
  • make a structured approach to evaluate why your best performing salespeople are successful.

Get value from customers and employees who choose other companies

When customers and employees choose another company, it’s best to get the most out of a bad situation. Any business should have a process that defines which meetings should be held with who to get information that can help in the future.

Do the following when an employee or customer leaves the company:

  • have a senior employee honestly speak with them about what they need to continue
  • verify if the company can offer the framework
  • hold an exit interview to understand the reasons for the termination
  • collect the information and have a systematic approach for assessing it.

Get an external assessment of your issues

It will always be a good idea to get an external perspective on their suspected issues. In the consulting world, most people will set up a meeting where concepts and perspectives can be discussed.

One thing is certain -there’s room for improvement. Less than five per cent exploit the competitive advantages that best practice in sales leads to.

 

Are you ready for Customer 4.0 revolution?

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