How to move prospects through the sales cycle Essential tips

Intro

The sales cycle is a significant part of a successful sales process. Since the cycle duration varies on business there is no specific length for each stage in the cycle.

In General, For B2B (business-to-business) the sales cycles take from a few weeks to several months. On the other hand, based on some factors the sales cycle duration of B2C (business-to-consumer) is shorter than the B2B cycle.

With proper understanding and planning, this cycle will lead to a successful sales journey. Let’s discover effective, efficient and essential tips to move prospects through the sales cycle that makes your sales successful.

Understanding the concept Sales cycle

The sales cycle is the step-by-step strategic process carried out by a salesperson or a company to convert a potential prospect into a valuable new customer. It is also an indicator to show how successful that indicates to what extent the sales goal is reached by the company.

There are about seven stages involved in the sales cycle, these seven stages are most common in both B2B and B2C business but the process involved varies according to the business type.

1.     Prospecting:

In simple prospecting is the process of finding your Potential lead (Prospect) for your business. In this first stage, leads are found through various means like social media, networking, referrals and so on.

2. Qualification/ Research:

Now, you have to find whether the lead aligns with your business. Research, whether your service or product matches their needs. Qualify, whether they have the authority to make decisions and budget to afford it.

3. Needs Analysis/Outreach:

After, Contact the prospect through means like cold mail or phone calls to know their pain points and analyse their needs So that you can find a proper way to pitch your business to them.

4. Presentation:

When you find out their pain points and needs. Present your business in a way that empathizes with them and how your product or service can satisfy their needs.

5.  Negotiating and Handling Objections

Here, you have to address objections and concerns from the prospect and then help to overcome those by providing a suitable solution that removes their doubts. You also have to do price Negotiation for better sales.

6. Closing:

In this stage, you have to make sure by asking Prospect’s commitment to make the purchase. This stage is the fruit of your sales effort. You have turned the prospect into a customer.

7. Follow-up and Post-Sale Support:

The sales cycle is not over when the prospect is turned into a customer. Even after the purchase you have to make sure everything goes smoothly by providing customer support. The last step is mainly for Customer retention and further opportunities.

How to improve your sales cycle?

• Focus and be precise on the Prospecting stage because a good start is half done. It makes the sales cycle go efficient.

• Enrich the research process with proper analysis and choose the right prospect for the approach.

• Train your salesperson or relevant person with the proper knowledge to meet the requirements of objection handling and negotiation stage

• Implement automation in post-sale customer support with Chatbot to enhance the process with Frequently asked questions (FAQs).

9 Essential tips on moving your prospects through the sales cycle

1. Know well about your prospects during the research and outreach stages to address their needs and pain points.
2. Don’t be compulsive and manipulative while addressing your prospects, be empathetic and solutions giver to their problems.
3. Clarify doubts and objections of your prospects in a polite manner that builds trust in your business.
4. Present your demos in a way that prospect feels they are on the right path to meet their needs and you are there to help them in any stage.
5. Analyse the needs of the prospect properly and present your demo that directly addresses their pain points.
6. Include Testimonials and customised proposals in your Presentation stage. It helps prospects to understand and relate to your business.
7. In the negotiation stage, focus and stress on the benefits that the prospect gains from your business. It shows the quality of your business.
8. At the closing stage, make your customers feel that they have made the right choice and you add value to them with your business.
9. Make sure that post-sales customer support is done properly.

With the consistent implementation of these strategies and essential tips, you can efficiently move your prospects through the sales cycle. This will help you in increasing your success rate in sales. Also, be ready to adapt and be flexible in your business approach throughout the sales cycle.