Grow Sales Revenue Using the CoAction™ Model

December 2, 2020
Grow Sales Revenue Using the CoAction™ Model

Are you a sales manager achieving inadequate results? How can you effectively leverage your sales growth team?

Here at CFS, we have developed a system called CoAction™ – an approach that sets your team is on a path for sales revenue growth, no matter the circumstances.

We created the CoAction™ model to ensure you get real results. By following the model's 5 practices, you will see improvement in your business's sales function.

1. Start with Team Building and Alignment

To start, you will need to form a cross-functional sales growth team.

This team includes your head of Sales, plus as many employees as you want spanning across Marketing, Operations, Human Resources, Finance, and Executive Leadership. Even just 5 to 10 team members will do.

The idea behind a cross-functional sales growth team is that it brings together people who represent different areas of the company, departments which have different needs and goals. Rather than relying on individual leadership to be held accountable for every aspect of sales (i.e. the VP of Sales), this team will work together to make smart choices and troubleshoot problems as (or before) they arise.

Next, the team will align on the company's vision, mission, values, and goals. What are the goals of each department, and how does that affect the other teams and their goals?

This is an opportunity to better understand your company's workflow from other perspectives.

For example, Sales directly impacts your company's success, but needs support from Marketing. Has Marketing been conveying all that your company is capable of? Is Operations able to deliver the assets that were promised by Sales? Does Human Resources have the capacity to hire more people?

By communicating and collaborating across all departments, you will have a clearer and broader vision for the company's future.

Though this might will look different for every company, the first practice of CoAction™ remains the same: align your sales growth team and set goals together.

2. Identify Strategies

Now that you have set goals, the next step is to identify strategies that will help you achieve those goals. Try to keep to 3-5 strategies at most.

For example, if one goal is to increase sales by 20%, one strategy might be to develop new offerings. Another might be to improve your sales team. Another could be to grow your sales team. That's three potential strategies.

To winnow a list of the best strategies, assemble as much data and information as possible in advance.

Before you can exercise any of the previous strategies, make assessments on your current sales team. Is the current team performing as well as it could be? Do you have the capacity to grow?

Be specific. Don't just “improve sales performance.” Instead, set out to improve individual sales rep performance by an average of 20%.

Make sure each strategy is measurable.

For example, assign deadlines! If your strategy was to build a new website towards the end of the year, instead specify that the website will launch on January 1st, 2021. This way, it's easy to know whether or not you are making progress because you have set a definitive measurement.

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3. Create Projects

Once you've come up with strategies, it's time to create projects.

For example, if one of your strategies is to improve sales performance, a project could be to develop a sales training program.

Work as a team to brainstorm projects. Prioritize them by taking into account both the potential impact and level of difficulty of each project. How many assignments will you be able to manage as a team at any given time? We suggest at least one project per strategy to start, depending on the size of your team and the amount of bandwidth available for special projects on top of everyday responsibilities.

Start small, then tack on more projects as you learn what works and what doesn't.

4. Assign Responsibilities & Due Dates

You have your list of active projects. Now it's time to identify a project champion and set a due date for each project.

The project champion is responsible for ensuring a project is completed on time. How will they do this? Each project champion develops a list of tasks to complete the project.

Once they develop tasks, they will assign a due date and then fill two roles: the achiever and the driver. The achiever is responsible for completing the actual task, and the driver is responsible for ensuring the task is completed.

These three levels of accountability make it much more likely that goals will get completed.

Feel free to use a project management tool to manage this process if it's helpful. (We did this for years in Excel!)

5. Regroup Monthly

The final stage and most vital aspect of CoAction™ is a monthly meeting. This once-a-month check-in is when you can track progress, update plans and strategies, mark assignments completed, share ideas, and launch new projects. It is during this regroup that each project champion can provide an update on the status of their project, thus applying another level of accountability.

If the team is committed to growth and believes their chosen strategies will help them achieve their goals, they will hold each other accountable to complete projects.

The social obligation of CoAction™ requires that everyone, all across the company, get on board to collaborate and plan together to strive for success. It is an opportunity for the company to get creative, make astute choices, and rethink how the business functions.

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Don't let a lack of accountability keep your company from succeeding. Utilize CoAction™ and see better results.

Does this model resonate with how your company operates? Tell us in the comments! We love to hear from you.

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