I utilize the 5Ps as my guideline to understand the overall selling effectiveness of my sales organization. I evaluate each of the 5Ps to understand the key areas for improvement. If I can improve how and who we go to market with I can improve the overall selling effectiveness of the team.
The 5Ps: Guidelines for Improving Selling Effectiveness
- Process – what are the steps you follow from lead qualification to a closed deal?
- Pipeline – what is the overall health of the pipeline from the top to bottom of the funnel?
- Pitch – how do you deliver the value proposition and tell the story that differentiates your solution?
- Product – how do you demonstrate your product to show how the solution solves the prospect’s need/problem?
- People – do you have the right people for the right roles based the current stage of your company?
To really understand each of the 5Ps you will need to observe, question and participate. I’ve found that the best way to do this is to follow the entire cycle from a lead to a close. This will give you a first hand view of each of the 5Ps to gain insight and make necessary changes at each stage. Also, along the way you’ll identify quality coachable moments and areas to improve training. Seeing is believe and doing is knowing. Roll up your sleeves and get dirty with the 5Ps.
Do you have a structure for evaluating your overall sales process? If so, when was the last time you evaluated your process? This isn’t a one and done thing. Depending on what you’re selling and how fast you’re growing this may have to be done more frequently i.e. quarterly, bi-annually, annually. Make sense?
This post is meant as an introduction to the 5Ps. I will go into the details behind each of the 5Ps in follow up posts in this series.