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By admin

How can a long sales cycle be shortened?

How can a long sales cycle be shortened?

timepiece by Robert Couse-Baker (Flickr)

The challenges of closing sales and reaching your yearly target are numerous. Are you under pressure to increase your average sales size? Would you expect an incentive if you achieve this goal, and most importantly, would the sales cycle of your product allow you to do so within the time frame allocated?

Let us explore in the article below some tools that have often proved beneficial.

1.Clarify the target Market

Once you start your research, you will initially need to find the influencers and decision makers you need to help you achieve your goal. Invite them, as well as several prospects, to a 1-day seminar held at your office. There you can explain to them what you do in greater detail and discuss the solutions your company can offer. 

2. Create a mutual action plan to reach your prospect’s goals

Start connecting with every person that will take part in the decision management. Identify their objectives, whether personal and professional. You can then start connecting with employees of the targeted companies that will likely benefit from using your solutions. Build a trusting relationship and recognize challenges that could be solved by working together as a team.  Building a strong relationship with your prospects can significantly shorten your sales cycle.

3. Select challenges you can solve

The correct systems and processes, as well as developing your sales teams’ skills, ultimately all have an impact on the shortening of the sales cycle.  The responsibility lies heavily on the Sales managers’ shoulders as statistics show that only 20% of salespeople have the skills necessary to sell successfully.  

Salespeople need to have a structured strategic approach when they operate. Breaking the sales process into sections allows them to analyze challenges and weaknesses.  The sales process can be compared to a GPS system on a car.  Once we provide the destination post code (goal to be achieved) the GPS provides the route to take (sales process) and the time needed (Sales cycle) to arrive to your destination.

4. Align your activities around your prospects

Establishing a time frame for your next step is crucial.  If you don’t confirm your next meeting or call time with your qualified client, you will find it may extend your sales cycle by an extra 2 weeks.  Be on top of the customers’ mind to maintain the momentum.  Getting the buy in and the “yes” is important at all stages; small yesses are just as significant. 

If you are skipping stages by jumping straight to the end contract or proposal and then face an objection, this means the client didn’t see your value or didn’t understand the full process.  Make sure you ask clearly: “Are you ready for the next stage or do we need to talk through any other details?”. 

5. Monitor your pipeline

Plan your pipeline flow versus your timeline. Is the speed of the qualified and potential deals in line with the date your want to close the deal?

Daily pipeline monitoring is essential if you need to manage prospects: is the size of your pipeline is satisfactory? Are the stages of your sales cycle optimized? Do you have enough prospects to reach your targets?

Answers to these questions will help you prioritize your visits to clients, prepare focused offers and follow up on pending matters with potential clients.

6. Master your self-limiting beliefs

One of the non-supportive beliefs usually sounds like this: “I don’t need to speak with the actual decision maker because my contact will take care of it.”

Our beliefs and emotions may sometimes negatively impact our sale. Thoughts like the following ones are self-limiting:

  • “In the markets I sell to, it is well known that the sales cycle is long.”
  • “The companies I target have long sales cycles.”
  • “The companies I target take a long time to respond.”
  • “Nothing moves fast in our industry.”
  • “New customers need more time to think about how they spend their budget.”

If the salesperson believes it is ok to think it over, analyze and research and accepts that the environment needs time, then the result can only translate in lengthier cycles and delay closing. The salesperson must understand the sensitive nature of the impact of self-confidence and speed on the sales procedure.

7. Deal with managerial pressure

Senior managers will always test their sales leaders’ capabilities and stretch their capacity towards better results every day. To make sure you will be amongst the successful salespeople, you need to create a sales effectiveness process that will insure you reach the required targets. The consultative selling approach has regularly proved highly successful in that respect

If you want to get more information, please access to following the following link. We will be more than happy to assist you.

By admin

Do you work with salespeople or sales leaders?

Do you work with salespeople or sales leaders?

1- Sales pitch or value proposition

In the last 10 years the business world has changed considerably, and the working life of a sales professional has changed right along with it. Customers have become more cautious and consequently their buying decisions have become more complex.Customers don’t want to be sold anymore; they want to be advised to quantify the value of their purchase. Cold calling is likely not working anymore nor the sales pitch.  There is no point in trying to sell without understanding the customers wants first.  Customers need to receive specific compelling information that drives them towards an informed decision.  Our customer wants to hear information directed to the problem they want to solve.  Poor listening skills result in not understanding the problem at hand.  Mastering the sales process is important to shorten the sales cycle and listening carefully is essential to understand the impact of the pain on the organization’s front and back offices.
What does the sales leaders need to achieve before they even call the prospect?

2- Pre-approach preparation

Do your research and prepare a target list, segment your potential clients per size, personae… and build a list of 100 companies to start with.  Make sure the selection of companies is in line with your organization’s strategy and offering. Companies selections might be diverse; Small to midsize or only companies in the IT sector etc. It will be beneficial to look into companies’ figures; Are they growing? Have they had flat sales for the last 12 months? Identifying such information will increase sales leaders’ chances to hit hot leads.  Be strategic about your list, be passionate about your list.  Give yourself a sense of direction.
Prepare a script and frequent asked questions: what challenges are targeted companies having? Build a list of questions that will qualify your prospects and identify the pain. Make sure your can build your competitive edge and stand out from the competition. Selling to Business to Business will involve identifying your decisions making unit that will be involved in the decision of buying. Identify their personality and communicate accordingly to facilitate your selling process.
What does the customer hope to achieve by the time they finished their call with you?

3- Connecting and empathizing consistently

Social selling is now an integral part of sales leaders’ daily activities. Prospecting, checking companies and people’s social profile to take a good decision. Master the skill of connecting on social medias to network before any conversation.
Connecting with prospects or hot leads should always start with a humble, genuine, honest approach and a happy tonality. Simple rules to start a conversation and build the relationship even over the phone.

4- Answering questions and challenges

Ask relevant questions when you pick up the phone and connect with prospects. Ask tough, difficult questions like: what are the challenges your company is facing in today’s market? Why you are failing from hitting your numbers?
You need to love the process of developing relationships with clients and prospects. Create a daily schedule, business habits, build a network, follow your numbers to be sure that your target is achieved.

5- Take put offs positively

Keep the conversation going, stay on your client’s mind. This is the most important step, even if you get a ‘no’. It all comes down to how much the sales leader wants to close that account.
Nurturing prospects – even after a ‘no’ – is important. Sales leaders should keep reaching out on a monthly basis with an article, podcast, etc… Step out of the comfort zone and find different ways to connect with someone you want to do business with.  Keep the relationships alive and be always on the top of their mind.  When prospects are ready, they will contact you.  Don’t go and try hit and then split.

Sales leaders, should ask themselves daily what were the failures in the last 2 weeks?  What were the successes?

Discover a 12 weeks program to build your sales team capabilities and make sure they hit their numbers.

 

By admin

The #1 mistake you make in sales

The #1 mistake you make in sales

A week ago I had an appointment for a product I thought could help my business. The company has a good clientele and I was almost convinced to buy the product as its price was within my budget.

As I got on the call, it didn’t take long until I found myself led through a demo. When the demo ended, I’d gotten off the phone thinking the product wasn’t for us and I should keep looking.

 

WHAT JUST HAPPENED ? We started the call with “YES” and some how ended up at “MAYBE”.

The sales person committed the #1 sales mistake: They pitched their solution without knowing exactly what my needs were and without showing me the value of the solution he was proposing.

Before you pitch your solution, benefits and features – you must figure out the exact problem you’re solving in the first place. You need to ask about your clients’ pain points first and what their expectations are with your product. There are two benefit of this;

It will give an edge to present a solution which exactly matches their needs which can help you to hide the features that are irrelevant for them.
It gives you an idea how important it is for them; this will help you sell the product at a good cost.
Have you ever faced such a situation where you start selling without knowing what customers want?

Have you ever been in a demo where someone starts selling without knowing your expectations?

If yes… Let me know how it went and how you FIXED IT?

 

 

By admin

Sales Transformation: 3 Necessities for Groundbreaking Sales Performance

Sales Transformation: 3 Necessities for Groundbreaking Sales Performance

 

Sales transformation has come to be a new frontier in the era of rampant technical and technological shift. This is due to the ever-evolving sales environment, as well as changing communication preferences.

To bring about sales transformation in this day and age requires more than just a good pitch. There are certain measures that need to be taken, in keeping with the times. But it is doable.

The Sales Transformation Trinity

 

the 3 most vital requirements for effective sales transformation

1)    Using Analytics and Insight to Capture Customer Attention

A majority of customers hold insight and value received through the sales experience, as more valuable than all other aspects such as product, brand, and price-value ratio. Commercial insight is slowly proving to be the Holy Grail for sales professionals, with thought leadership taking the backseat when it comes to conversion and buying action.

This not only alludes to the information which customers are bound to find thought-provoking or interesting, but this insight will compel a customer to change anywhere from a few to all of their working and purchasing practices.

2)    Develop Expert Sellers and Strategically Superior Managers

Training sellers and bringing managers up to speed will continue, especially when the sales environment changes almost every week. These positions need to be engineered with the times and talent needs to be developed steadily.

Companies which focus on their front-line sales professionals will find it difficult to keep up with the plethora of challenges in the near future. To achieve this, a comprehensive training schedule – one which includes the managers as well as sellers – will need to be formulated.

Remember, it’s about tailoring the strategy to the ideal customer, teaching him/her something brand new, and taking effective control of the entire sales process.

3)    Align Customer Buying Processes with Internal Enablement

Sales professionals can’t be expected to remember how each customers buys, which is why it is beneficial to keep buying behaviors aligned with the skills of the sales team. This will make sales transformation the primary concern within the day-to-day sales routine of sales professionals.

Additionally, it will allow the customers to align their purchasing activities with each other, which will aid with better sales performance. Due to increasing population and more people connecting with each other, the amount of opinions and buying practices are more diverse than ever. This is why the more the customers are aligned with the content strategy, demand generation and internal enablement, the more the sales professionals will succeed with set goals.

Conclusion

The right sales ecosystem – one which features spontaneous strategic optimization – consistent managerial and seller training, as well as commercial analytics, are the key to success for sales .

Customers are brighter and more integral to the internal sales process than ever before. If a company can channel that involvement, modify it, and take advantage, it will prove advantageous throughout the year and beyond.

 

By admin

Is your B2B sales team building the Value Proposition?

Is your B2B Sales team Building the value proposition ? 

Sales people that apply solutions selling starts researching prospects challenges that prevent them from reaching their goals.

Solution selling is a whole process of thinking on the behalf of prospects, asking and discovering their urgent needs.

Creating a relevant and credible value proposition will be meaningful only if it is consistently used towards prospects’ wish list.

It is crucial to apply the value proposition in every conversation that sales leaders have with prospects to close deals easily. The steps below should help with this process:

1- Find out why prospects buy from your company in the first place? What value do they seek?

2- Ask enough questions to identify their challenges and find out how important it is for them to find a solution.

3- Act like a consultant and put yourself in their shoes. Think what you should do to gain their trust

4- Make sure you have a conversation with all your prospective buyers and address their compelling reasons to buy.

5- Create the value proposition, making sure you quantify their loss or gain if they buy your product.

B2B team leaders need to master their value proposition.

Nowadays, building credibility will get you through the client’s door. However, team leaders can only build their credibility if prospects get to know them.

B2B teams need to build their network and get in touch with their base on regular basis. One way of doing that is feeding prospects with information and taking care of their business in the same way they work on of achieving their target.

Remember that prospects can access any solution/product online. Being agile and alert is the only way to keep learning prospects’ needs and market challenges.

How do you think sales organisation could support Sales leaders to make sure they are on top of their game and successfully competing in such a though environment?

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Is your B2B sales team building the Value Proposition?