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Sales prospects are different in behavior. Therefore, they need special and particular attention. Opportunities are at different stages and need to be pursued.
The better way to assess the degree of urgency in dealing with a particular prospect is by employing the sales matrix.
What is a sales matrix?
The easiest way to understand a sales matrix is that it is a tool used to help you determine the seriousness and viability of sales opportunities. The sales matrix helps you assess the level of interest that prospective customers have in your offering. The customer’s level of interest determines how much attention they will be given.
While assessing the fit for your company, concerning interest, you categorize a client based on industry, size, location, or some combination; you should be able to fit them into your matrix and match them with the preferred solutions.
The relevance of a sales matrix
Traditional prospecting is more intended for finding out if individual companies are a good fit for your product.
Strong sales skills can help you close deals, build relationships, and increase overall productivity in the sales process. A sales matrix can help you build and assess these skills. An individual can use a sales matrix as a self-assessment tool. It is an indicator of performance and can show you where improvement is needed. On a larger scale, managers and business owners can use the sales matrix to gauge and compare the performances of the different sales personnel.
There are tells from which you can know that these companies are interested in your product, and an excellent place to start is the website visits. If you can track and identify these visits, you can tell who is interested and what exactly they are looking for. It can be as simple as the more visits to the website, the more willing to buy what you are selling.
Types Of Sales Matrices
A variety of matrices exist, each designed to track different aspects of the sales process.
Lead tracking matrix: A lead tracking matrix is used to track prospects that have been identified as potential customers. It helps salespeople track who they’ve contacted and when and what the outcome of the interaction was.
Opportunity tracking matrix: An opportunity tracking matrix is used to track deals that are in progress. It helps salespeople keep track of the status of each deal, who is working on it, and what the next steps are.
Customer tracking matrix: A customer tracking matrix is used to track current customers. It helps salespeople track their customers, when they last contacted them, and their needs.
Sales pipeline matrix: is used to track the entire sales process from start to finish. It helps salespeople see where each deal is in the process and the next steps.
Sales forecast matrix: is used to predict future sales. It helps salespeople see what deals are likely to close and when.
Sales performance matrix: A performance matrix is used to track sales metrics. It helps salespeople see how they perform against their goals and where they need to improve. the different types of sales matrice
Importance of sales matrix
A sales matrix is an important core tool that every sales representative should not waste time on prospects that are not worth it. Here are a few highlights of the importance of the sales matrix.
Aids a sales representative to know which leads to being reached out to first and made number one priority.
Helps a sales rep point out prospects that are not worth their time, and those who are friendly and more likely to appreciate the sales representative's efforts.
Also helps sales reps know which prospects need a little nurturing and which ones need a lot of time and attention to be convinced.
Components of a sales matrix
1. Events and trends
The marketing game is constantly evolving, and you need to keep up with what’s new. These tips tend to give you a direction on which techniques to employ and how to be best manipulate the status quo to your favor.
Staying compliant with the government becomes key to any business plan, with everything else optional. Make sure to note what level of priority the exciting event falls under.
2. The Key players
These are the people who matter most to you and your product - people who can influence your product’s purchase. These can be leaders, influencers, or even the actual buyers.
Each of the people in these groups needs strategies tailored specifically for them, so it is prudent to
3. Total cost savings
A customer always wants to stay ahead of any financial implications. That is why you must go over and beyond in explaining the total cost implications. If the customer is a large entity, they will demand the total cost.
Make sure to include installation costs, any reoccurring service costs, and any additional material costs.
4. Cost reduction maneuvres
While your customers align your product with their work, look out for ways your tools can improve their efficiency or even ease their existing tools to eliminate redundancies.
When you provide the company with ways to save money, the long-run benefits are immense.
Sales And Marketing With Monkeypesa
The world of marketing is in a crazy revolution. Every passing day, there is new software on the market. The software makes the work easier with automation.
MonkeyPesa CRM is an all-in-one business automation tool. From sales marketing, automation or customer support. With the devotion to help Small and Medium Enterprises (SMEs), MonkeyPesa is a user-friendly tool. The pricing, features, analytics, easy-to-interpret dashboard make it ideal for you.
The CRM aids businesses to get prospects, insights, converts more leads to become customers and manages with customers across several channels. At the same time, they go through the selling process.
The services offered include; Sales pipeline management which helps companies to sell faster and get more prospects into the business. The invoicing and billing system allows track time, generating invoices, Pro-forma invoices, quotes, and getting much more money faster. And the real estate system helps real estate companies to acquire property, landlord management, tenant and the necessary automation.
MonkeyPesa CRM Features:
Team collaboration
Contact management
Pipeline management
Data security
Insights, analytics and reports
Human Resource and payroll
Inventory and stores
Bulk SMS and emailing
Accessible Communication is a giant step into maintaining good relationships with clients. Strong relationships generate more sales and support, improve client satisfaction, and even reduce business expenses.
A closed buyer is just as vital as a new lead. MonkeyPesa CRM allows you to create charges based on a prospect’s information, schedule calls for them at any point in time, take notes based on our interactions, and easily save and organize that data for future use. In a nutshell, you are moving a sales lead, or prospect from one stage of your sales funnel to the next.
The MonkeyPesa CRM allows you to add contacts manually or upload files. Because the goal is to have streamlined communication in the sales process, you do not have to open another platform to make calls with your clients and prospects. The dashboard enables calls. In addition, all these interactions are captured in case you need to make clarifications and references.
It is a catch for small and medium enterprises, from social networking tools, project management to CRM, document management, calendars, team management, email marketing, phone management, and flawless lead management.
Social Media is a very relevant tool of sales and marketing today. Every passing day, there is a new social media channel your clients and prospects sign up for. MonkeyPesa provides a centralized location for all your social media interactions — tweets, posts, reels, videos, comments, replies, Direct Messages.
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