The Quoting Challenge
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You have increased quoting, had a decrease in win rate and you know your market participation has decreased - WT?
As a leader how focused are you on looking for patterns. Let's take for instance win/loss ratio's.
Here is the scenario I would like you to consider. It's kind of a riddle.
For the last 3 months your quotation levels have increased by 50% - yeah you say. Closing ratio has halved though. "Get more quotes out there then" I hear you say. Not necessarily. Furthermore you also know that your market penetration has dropped.
So what is going on with your sales team? Listen to the video to get my take on what's happening which resonated with the NSM.
Here are 3 things you can do to improve your quoting outcomes
Stop quoting on opportunities you will not win
Set up a stringent qualification criteria
Hold people accountable to the criteria
Run a tense sales pipeline meeting every month
Check out this Video where Michael explain his take on what is happening and what to do next.
Michael Lang, SG Partners, discusses his take on what is going on with a quoting challenge
