7 Steps of the Sales Process
2. Contact potential customers
After you have identified your prospects, the next stage is to initiate contact. The communication channel you choose will depend on the business or type of prospect. In some instances, a phone call is the appropriate means of contacting a prospect, while other times your first point of contact may be an email or a more traditional sales letter. You aren't giving your full sales pitch during this stage, just establishing contact with potential clients in the hopes of setting up a more formal meeting.
5. Overcome objections
After you've made your sales presentation, it's natural for your customer to have some hesitations or concerns, known as objections. Good salespeople look at objections as opportunities to further understand and respond to customers' needs. Be prepared and use some of the following ideas: - Recognize your customer's comments by acknowledging their views and then responding with solutions. - Ask questions about their views to find ways to address them. - Restate the customer's objection. By saying it aloud, you can reduce its impact. - Ideally you will be prepared for what customers will say, and be ready to respond. For example:Objection: 'Sorry, I don't have the time today.'Response: 'No problem. I'm more than happy to book you a ten-minute meeting later in the week.'
3. Qualify the customers
During this stage of the sales cycle, you will vet the client as much as possible. This process may be initiated in the contact stage of the sales cycle, but the majority of qualifying usually happens during the first sales meeting or appointment. You'll want to find out if your contact person is a decision maker and, if so, whether they are actually interested in purchasing your product or service. If your prospect is not in a position to make decisions or purchase, politely ask to include a manager or superior in the meeting.
7. Follow up
OK, so you've made the sale. While it might seem like you've accomplished your goal, the customer journey continues. - Follow-up is an important part of assuring customer satisfaction, retaining customers and prospecting for new customers. - This might mean sending a thank you note, calling the customer to make sure the product was received in satisfactory condition, or checking in to make sure a service has met the customer's expectations.
6. Closing the Sale
The important - and sometimes challenging - part of the sale is closing it! This is where you actually have to ask if the potential customer is willing to make the purchase. If your customer has been convinced your product or service will meet their needs, you close the sale by agreeing on the terms of the sale and finishing up the transaction. Depending on your business, you might try one of these three closing strategies: Alternative choice close: Assume the sale and offer the prospect a choice, where both options close the sale. For example, 'Will you be paying the whole fee up front or in installments?', 'Will that be cash or card?' or 'Would you like me to wrap that for you?' Extra inducement close: Offer something extra to get the prospect to close, such as a free month of service or a discount. Standing room only close: Create urgency by expressing time is of the essence. For example, 'The price will be going up after this month' or 'We only have six spots left'.
4. Present your product
This is the most crucial stage in the sales cycle and requires the most preparation. You should aim to present your goods or services in a way that solves an issue the customer is facing. Be ready to demonstrate how using your product will improve day-to-day operations for your customer and how your company achieves this better than anyone else.
Prospect for leads
To sell something, you must first have a customer or prospective customer. Identifying potential prospects is the first stage in any sales cycle and requires a solid understanding of the service or product you intend to sell. - Prospecting for customers can also take the form of lead generation.
