Improve Your Sales Cycle & Closing Process
How quickly you decide to buy a pair of sneakers is entirely different from how long you take to decide to buy a house. But, some general approaches hold true across all selling that can help your team shorten the sales cycle and close more deals faster. Marketing and sales are no longer about reaching out for leads at random or shooting in the dark – they’re about making data-driven decisions that result in genuine revenue-boosting opportunities.
Remember, the longer your sales cycle, the more time for your competition to swoop in and steal your deal.
How can you shorten the sales cycle
Always make sure you reply to leads right away. More time you take to get back to your leads, less chances you have to close them. Use live chat, automation, CRM and other technologies to provide your clients speedy service.
Understand real pain points and what is the reason your potential client is in the market to look for a solution.
Many sales reps deliver uniform, one-size-fits-all pitches without taking a minute to understand their prospect’s situation.
This is something that can jeopardize the whole sales process, and prevent them from getting relevant information that would enable them to craft and fine-tune their offer and win the prospect over.
In other words, it’s crucial to actively listen to your prospects, hear their objections and complaints, and identify what’s behind them. A couple of questions more and you’ll reach the holy grail of successful selling – your prospect’s true pain points and needs.
Here are some tips to convert your leads to sales:
Automate repetitive tasks.
Set agreed-upon goals for each sales call.
Explore prospect objections before responding to them.
Be clear about pricing (very) early on.
Make it ridiculously easy for prospects to sign contracts from any device.
Focus on your highest-performing channels.
Be a person you’d want to talk to.
Use incremental closes.
Create a plan for sales meetings.
Surface objections early and often.
Take the back-and-forth out of scheduling meetings with prospects.
Leverage social proof
Regularly clean your CRM to eliminate cold leads.
Keep alignment with your marketing team around sales goals.
Create a personalized experience for each prospect.
A shorter sales cycle can be the key to closing more deals and more revenue. Use the tips above to cut down your sales cycle and build an efficient sales machine.
Being Consistent and Building Momentum
Closing is a process and it doesn’t happen overnight. But remaining consistent is critical for success.
In order to finalize it successfully, you first need to establish a series of small milestones and gradually complete each stage. This way your prospective buyer will make a number of smaller positive decisions, thus involving them deeper in the whole process.
By getting them to say yes more than once for various little things, you’ll psychologically prepare them to make that final big commitment.
For example, you can ask them if it’s ok to switch from emails to phone calls. After meeting them in person and showing them your demo, you can ask them to connect you with their procurement department.