18 March 2020 Wednesday
ByVenkadesh Narayanan
In:SOP
3 Comments
Is having a great product the only requirement to run a successful business? For most companies, the answer is no. Why? Because generating sales requires potential customers to understand that a product exists, what it does, and why it’s better than a competitor’s offering. SOP ToolBox:If you are reading these lines, I am sure you are looking for Standard Operating Procedure guidelines or SOPs itself. In both the cases, searching in internet will not be yielding any great help. Because no company shares their SOP Development Process and certainly don’t share their SOP Documents. The best way to develop an SOP is creating one for yourself. At Fhyzics, we write SOPs day-in and day-out for companies across the globe including some of the Fortune 500 organisations. Our charge ranges from USD 5000 to USD 50000 depending upon the number of processes to be covered. Certainly, this is not affordable to small and mid-size organisations. Hence, we decided to create this SOP ToolBox to disseminate our 8-Step SOP Development Life-Cycle and best practices at an unbelievably low price. I always say, writing an SOP is somewhere between art and science. So far you may be clueless on where to start and how to progress on an SOP? This will not be the case after you diligently go through this SOP ToolBox. We have summarised all our secrets here to get you started and to deliver a stunning SOP to your management. Throughout the sales cycle, it will take multiple contacts using both sales and marketing to move prospects to the next level. To build a successful business, you must develop a program that combines sales and marketing and reaches out to prospects in all three stages-cold, warm or hot-on an ongoing basis. Entrepreneurs often get into trouble by choosing only those tactics with which they're most comfortable. To avoid this trap, divide your prospect database into cold, warm and hot prospects.The responsibility to communicate that information rests on the shoulders of the marketing and sales teams. Typically, marketing has a predominant role at the beginning of a potential sale. For example, a marketing team may develop a new radio campaign to help spread awareness about a product launch. A sales team works to finalize a deal by communicating directly with leads and addressing their concerns.
64% of sales professionals now use CRMs, up from just 28% in 2017. Customer Relationship Management (CRM) is all of the activities, strategies and technologies that companies use to manage their interactions with their current and potential customers. A saying frequently heard and said in many businesses is "customer is king". CRM helps businesses build a relationship with their customers that, in turn, creates loyalty and customer retention. Since customer loyalty and revenue are both qualities that affect a company's revenue, CRM is a management strategy that results in increased profits for a business.
Here’s the list of SOPs that will help you to streamline your Sales and Marketing activities in a greater extent.
1. SOP-SM-01 : The Sales and Marketing Organization
2. SOP-SM-02 : Sales and Marketing functions
3. SOP-SM-03 : Terminologies in Sales and Marketing
4. SOP-SM-04 : The Sales Process
5. SOP-SM-05 : Negotiation Techniques
6. SOP-SM-06 : Customer Relationship Management
7. SOP-SM-07 : Effective Techniques in Sales
8. SOP-SM-08 : Marketing Techniques
9. SOP-SM-09 : Customer Service in Sales
10. SOP-SM-10 : Credit Policy
11. SOP-SM-11 : Booking Policy
12. SOP-SM-12 : Cancellation Policy
13. SOP-SM-13 : Discount Policy
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FAQs
What is the standard operating procedure of sales and marketing? ›
WHAT IS A SALES AND MARKETING SOP? A Sales and Marketing Standard Operating Procedure or SOP is a detailed and robust guide or manual with all your company sales and marketing policies, processes, protocols and procedures.
What are standard operating procedures in marketing? ›An SOP is a procedure specific to your operation that describes the activities necessary to complete tasks in accordance with industry regulations, provincial laws or even just your own standards for running your business. Any document that is a “how to” falls into the category of procedures.
What is the purpose of SOP in sales and marketing? ›Standard operating procedures provide the policies, processes and standards needed for the organization to succeed. They can benefit a business by reducing errors, increasing efficiencies and profitability, creating a safe work environment and producing guidelines for how to resolve issues and overcome obstacles.
What are the five standard operating procedures? ›- Keep a Clear User Viewpoint. You should always be thinking about your end user when you write an SOP. ...
- Format Clearly. As well as being careful with language, process documentation should always use intuitive formatting. ...
- Keep Scope in Mind. ...
- Observe Roles and Impacts. ...
- Seek Authority and Approval.
What Are the Types of SOPs? You can categorize SOPs into three different types: step-by-step, hierarchical steps, and flowcharts. Some business processes are better suited for certain types than others, depending on their complexity. Let's take a closer look at each SOP format.
What does a good SOP looks like? ›In order to write a good SOP, follow the tips given below: Mention your achievements, professional and academic, in the form of a story rather than statements. An SOP is a reflection of your personality; make sure it is clear and understandable. Mention strong reasons as to why you want to pursue a particular course.
What are the 5 main benefits of an SOP manual? ›- Reduced learning curve/training time for new employees. ...
- Ensured business continuity. ...
- Standardized processes. ...
- Delegating tasks becomes a no-brainer. ...
- Ensure that your clients are getting the best possible experience with you.
- Top of the Article.
- Define and Then Communicate Your Org Chart.
- Invest in Your Teams' Management Staff.
- Create Channels of Communication Between Marketing and Sales.
- Decide on Clear, Consistent Messaging That Carry Across Marketing and Sales.
Two Types of Standard Operating Procedures: Technical and Management. Standard operating procedures communicate across all levels and team members of an organization. They involve both business owners and employees. SOPs can be organized by department, manager, function, and/or asset.
What are 3 things to consider when implementing an SOP? ›There may be different needs for different scenarios, however the following are examples of basic details that need to be included in the SOP: Scope of Standard Operation Procedure. The procedure itself. Any Health and Safety considerations.
How do I create a SOP in Excel? ›
- How to Write an Standard Operating Procedure (SOP)
- How to Use the SOP Excel Template. 2.1. 1) Clarify the target process. 2.2. 2) Clarify the audience of this SOP. 2.3. 3) Determine the format of the SOP. 2.4. 4) Write the process steps in a timeline. 2.5.
Ideally, Standard Operating Procedures should be written by a team that includes personnel from different areas. However, in the real world, they are often written by just one person.
What are included in the sales operations process? ›What are the roles of sales operations? Sales operations teams accomplish their goals through a variety of roles and functions including strategy, data analysis, hiring and training, forecasting, territory design, and sales process optimization.
What are the 3 keys of marketing and sales strategies? ›...
Let's explore how they work.
- Product strategy. This lever is about what is being delivered to the marketplace and consumed by the customer. ...
- Service strategy. ...
- Pricing strategy.
- Functional Structure.
- Geographic Structure.
- Market-Based Structure.
- Product Sales Force Structure.
The six phases of S&OP are product review, demand review, supply review, finance review, pre-S&OP, and executive S&OP. Each phase needs the others for the process, as a whole, to thrive.
What are the 10 sales process? ›- Prospecting Stage. ...
- Qualifying Stage. ...
- Initial Meeting & Needs Discovery Stage. ...
- Needs Analysis. ...
- Presentation/Product or Service Demo. ...
- Proposal/Quotation Presentation. ...
- Influencer Approves. ...
- Key Decision Maker Or Committee Approves.