Last updated on January 20th, 2020 at 04:59 pm
A sales playbook refers to capturing the best practices of sales and transmitting them to salespeople. It is a collection of things that identify the outlines of the objectives, methodology, and process of sales for a particular company. It also gives a structure on how to close deals. Those who are new to sales and marketing will still be asking the same question. What is a playbook in sales? While it is not a replacement for comprehensive training, it is a valuable resource that B2B marketing professionals and salespeople use to implement and recall the best practices.
The playbook in sales exists to encourage marketing and sales teams to figure out and discuss the best opportunities for the company. With the use of sales playbook, the teams can discuss the hindrances to success and how to assemble resources to address these concerns. Through this process, your company will gain insight into the playbook in sales and how it can help you discover qualified sales leads and accounts that are crack tough.
The Components of a Playbook
- The value proposition and offering of the company. Explains what the company offers, and describes how the products and services address the pain points and other issues regarding the business. It is a section wherein you clarify why your business exists and how it impacts your customers and the market.
- Your buyer persona. In this section of the sales playbook, it focuses on determining your ideal prospects and those who can give you sales.
- Customer analysis. It distinguishes the influencers, key buyers, key trends, and the profile of the target market. It also includes the preferences, pain points of the customers, and the critical business issue.
- Counter objections. This one provides instructions on how to deal with common objections that the sales strategy may encounter.
- Best practices. In learning the playbook in sales, it involves determining what has worked and what has not in the past, along with the lessons learned. It also lists techniques and proven tips, and when to use them under what circumstances.
- Buying process. This part of the playbook in sales tackles conditions or circumstances that give rise to evaluation, consideration, and purchase. It identifies the behavior of qualified sales leads.
- Competitive analysis. It explains in detail what the standing of the competition in the market is. What are the typical strategies and moves of the competitors, what are their selling methods and processes, and what are the ways to counter their techniques.
- Sales methodology. It outlines the sales process of your business and the buying process of the customers. It determines the critical steps that prompt your target market to make the purchase. Sales methodology goes beyond describing the sales process, including each step of the cycle. It also gives instructions regarding the information to be collected, assessing the opportunity, and recognizing the players in every stage.
A Worthwhile Investment
A complete sales playbook offers strategic instructions and guidelines, allowing you to learn effective ways to the vulnerabilities of your company. The playbook is a living document for the sales methodology of your company. When you master what is a playbook in sales, you can take advantage of your strengths, increase your win and loss ratio, increase business value, and differentiate offers.
The development of the playbook in sales requires a huge investment of your effort and time. But, the outcome is rewarding while you improve the productivity and effectiveness of your sales strategy. At the same time, it helps identify and fix the weaknesses of your business operations.