Closed-Loop Selling is a process that continually improves and reinforces the sales effectiveness of an entire organization. Closed-loop selling constantly evaluates customer interactions and quickly identifies newly emerging market opportunities, sales practices, and product combinations that are producing exceptional results. These opportunities are then translated into a set of specific actions for each individual to maximize the value of their unique client base—actions which are then further assessed and refined by the system.
To implement Closed-Loop Selling, you need a system that can learn from the vast amount of sales data generated by your organization every day, and then use that information to drive optimal activity for each individual. A Closed-Loop Selling solution provides three critical components:
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First is the efficient consolidation of customer and sales data. With this information channeled to one location from across the enterprise, the Closed-Loop Selling system can continually measure individual and group sales performance and monitor the status of each customer relationship. By combining these capabilities, the system can measure the impact different sales strategies have on different customers in different situations. |
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Second is the creation of tailored strategies for each individual in the organization. For every individual, the system evaluates many different sales strategies and then selects those that are expected to generate the greatest overall business impact—those with the highest potential value and likelihood of success. The system determines this for each individual based upon the likely success and impact of each strategy for each individual based upon the success of that individual's peers—those professionals with similar levels of experience, product focus and client base. |
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Third is the delivery of specific recommendations that drive focused and productive action. For each individual in the organization, the system determines the specific interactions that will most drive success with each customer—and then delivers those specific recommendations to the field. |
Closed-Loop Selling enables your professionals in the field to quickly grow their business by focusing on the best interactions with the best customers. The outcomes of these high-value interactions are then captured in the sales and customer data, incorporated in the system's learning—and then replicated across the organization. Together these individual directions persistently align the entire organization's efforts toward your best new business opportunities and consistently develop deeper, more meaningful customer relationships.