Gap Analysis is a useful tool widely used in many professions, but less so in selling. However, identifying and filling gaps in terms of sales; skills, process, strategy and systems is at the core of the job of the modern sales manager. With that in mind this post provides some pointers on applying proven gap analysis methods to selling – something that SellerNAV® does very well.
What is Gap Analysis?
The gap analysis is a tool that helps a sales organization to identify the gaps between its performance and its potential. As the diagram below suggests it is the gap between ‘where we are now’ versus ‘where we want/need to be’.
In this the gap analysis it clearly focuses managers on what is required to achieve sales success, or more to the point what is (or has the potential) to limit, or prevent it. So, paying attention to the gap is really important. That is where SellerNAV® comes in.
What are the main gaps?
The key gaps that sales managers look for can be identified from the table below.
|Where we are now||Where we want to be|
|Common Practice||Best Practice|
|Forecast Sales||Sales Target|
|Past Performance||Future Potential|
|Perceived Needs||Real Needs|
|Today’s Skills||Tomorrow’s Skills|
|Strategy (What We Say)||Implementation (What We Do)|
|Management View||Team View|
|Our Solutions||Market Needs|
|How We Sell||How Our Customers Buy|
At it’s simplest it may be the gap between the sales target for the year and the forecast year end, or the gap between how we sell and how our customers buy. However, based on our clients, the key sales gaps and their relative frequency is as follows:
2.Skills (people) 30%
SellerNAV® will pinpoint specific gaps, however some of these gaps are examined in more detail below.
Sales Skills Gaps
One of the key areas for which sales managers look for gaps is in relation to sales skills. That means mapping today’s skills with those required for tomorrow, both at the level of the team and the individual. Doing this requires asking such questions as:
• What are the key gaps between the best and worst performing salespeople?
• Does the sales team have all the skills required to bring the business to the next level (e.g. to sell to bigger companies)?
• Is there a consensus on the skills profile required new sales people?
• Are the key skills gaps being comprehensively addressed by coaching and training?
The Most Common Gaps
Based on a cohort of companies, the most commonly identified sales skills gaps are as follows:
2.Selling Higher (higher value and at a higher level (20%)
3.Sales Prospecting (20%)
4.Trusted Advisor (20%)
Sales Process Gaps
Of course in examining skills gaps, it makes sense to look to gaps in terms of sales process, that is to identify what sales steps need to be added, deleted, or just improved. That means asking questions, such as;
• Has your organisation defined the ideal way to sell its solutions?
• Does it have a proven, repeatable process for generating leads and converting them through stages into orders and ultimately repeat orders?
What are the key sales process gaps?
Well, again based on our cohort of companies, a more consistent and repeatable approach to the following issues that are too often left to individual discretion:
1.Target customer profile & pre-qualification
2.Nurturing leads to sales readiness
3.Management of sales cycles
4.Communicating Business Impact / Business Case
5.Opportunity & pipeline reviews
Attention often turns to strategic gaps, which although often outside control of sales person, have an important bearing on success:
1.Target customer profile (market focus) (30%)
2.Messaging & proposition (market fit) (30%)
3.Implementation (strategy and what is happening on the ground) (20%)
4.Short term focus (Sporadic sales drives) (20%)
5.Demand Generation / Position as Expert in Industry) (40%)