Successful sales efforts

Robert Gonye

Successful sales efforts are rarely improvised. Very few companies sales strategies revolve around throwing random tactics at the wall and seeing what sticks. Generally speaking, businesses that see consistent success in sales offer their salespeople some degree of guidance.

Salespeople often need a defined progression to serve as a reference point . That infrastructure is often referred to as a sales cycle.

What is a sales cycle?

Sales cycle is a set of specific actions salespeople follow to close a new customer. The sales cycle is more tactical, and often includes stages such as prospect, connect, research, present, and close.

It allows you to better organise your sales pipeline, prioritise leads, and ultimately evaluate the efficacy of your sales efforts.

Having a clearly defined sales cycle gives your reps a thorough roadmap and common reference points to ensure they understand what they are doing.

Your reps need the flexibility and know how to pick up where another left off — if need be. But, there is no “where they left off” if there is no sales cycle to guide their efforts.

A sales cycle sets up the infrastructure for reps to prioritise leads and understand how far along prospects are in their buyers’ journeys. Finally, a sales cycle allows you to objectively evaluate your sales efforts. How did your reps do? What worked well for them? Where did things go wrong or right? Did they deviate from the cycle? What happened if they did?

Having perspective for evaluation is essential to understanding how both your reps and business are performing.

To understand a sales cycle, below is a breakdown of each one.

Stages of sales cycle

1. Prospect

Prospecting isn’t the most glamorous part of sales, but it might just be the most important. In this stage, you will identify sales qualified leads and fill your pipeline with prospects who are a good fit for your product/service and your buyer persona, and who might be interested in hearing what you have to say.

2. Connect

Once you have identified prospects, it is time to make contact. Ask for a mutual acquaintance to introduce you, engage with your prospect on social media like LinkedIn or Twitter, and reach out over email and phone. Introduce self, share what you have to offer, and if they’d be interested in learning more.

3. Research

When your prospect is interested in learning more, it’s time to set up a discovery or qualifying call. Learn more about their business, their needs, and your ability to meet those needs.

4. Present

Now, it’s time for the presentation. This is usually built around a pitch template your sales team uses and customises for each prospect’s unique business needs.

Generally, you will present to a team of decision-makers at your prospect’s company and field questions from key stakeholders.

5. Handle objections

In all likelihood, your sales cycle isn’t going to run its course without some road bumps. They’re bound to have some questions and concerns about your product or service.

After your presentation, you will have to address prospect objections. They might press you on prices. Be prepared to listen, ask for context, and do what you can to understand their objections before addressing them.

6. Close

You might need to connect with legal or IT on logistical details. Once you’ve completed these steps, it’s time to “ask for the close” — sales jargon.

If it’s a “Yes”, draw up the contract and send it for final review and signing. If a, “No,” you might have to address further objections or walk away from their business for the moment.

7. Follow up and generate referrals

The sales cycle doesn’t end with landing a deal. Keep them on board, and leverage them to generate new business.

Help and advocate for your customers. Keep them close, and you will consistently find opportunities to cross and up-sell them. Happy customers are excellent sources for referrals, foster more relationships, and ultimately drive revenue.

Sales cycle management

Sales cycle managers keep track of stage of the process, identify trends and determine each stage of the sales process.

If you are a salesperson or sales leader, evaluate the stages of the sales cycle to see where improvements or adjustments need to be made. Tools, like a CRM, aid in sales cycle management.

It’s important to be familiar with the cycle your team abides and use as your compass.

 

Robert Gonye is a business growth expert and influencer. He writes in his personal capacity. For comments and views:    [email protected]