Precision Pricing for Profit in the New World Order Essay

Precision Pricing for Profit in the New World Order - Essay Example This report discusses the concept of sprint selling by illustrating its basic elements and ways companies can implement this innovative sales approach. Sprint selling is a business technique that focuses on speeding up the time to close in order to increase efficiency and achieve better results for a company. To understand speed selling one must comprehend the consequences of going the opposite direction. All companies depend on having a cash flow in order to keep a business going. If it takes a company more than a year to close out its sales leads the firm is operating in a risky environment because overhead and operating expenses may eat up a company budget prior to achieving the sale. In the process of going for a home run customer that can bring high amounts of the revenue the company, basic necessities must be met, thus this is where sprint selling comes to the rescue. Sprint selling is a process that increases the chances of longevity because it ensures a quick sales turnover where a company obtains many closed sales in short periods of time. Spring selling works best a part of the integrated plan in which sprint selling is ut ilized as a combined strategy that involves the creation of a diversified customer portfolio. The responsibility of obtaining sales for a company is shared by the marketing and sales team. The marketing team concentrates on attracting new customers and sales leads, while the sales team has to follow up on those sales leads and are the ones that must close the sale. This means that the salespeople are the ones that have a greater influence on the total elapsed time of a sale cycle. The sales team has to incorporate a selection strategy of customer prospects that reduce risks associated with both extremes. Sprint selling works best for smaller accounts that require less hassle implying that a company can not solely survive with these accounts in the long term. Bigger accounts require more time and a sprint selling approach realizes the need of having a balance between smaller and larger customer. The approach does encourage to find ways to shorten the overall closing time for big accounts as part of the company overall strategy. Â