Having enough sales is something that can make or break a business, especially when it comes to local and small businesses. Now, what makes sales successful is having an organized plan. Understanding what is known as a sales process can help you and your sales team turn lead into customers.
Whether your business focuses on B2C or B2B sales, a sales process is a roadmap that can apply to any sales target. Some of the best sales methods include stages or steps that keep a sales team on the same page while maintaining customer relationships.
What is a Sales Process?
A sales process outlines the steps a company and its sales team can follow to complete a proper sales cycle. This process begins by taking a potential customer from simply being aware of your business through having a closed sale. This guide can help sales personnel have a structured framework to follow to increase sales efficiency and profit margins.
Luckily, the sales process does not have to be a hundred steps long. We have detailed seven steps that help provide a solid outline of how to find prospects, close the deal, and retain business and referrals.
Prospect
Prospecting is all about sourcing new sales leads. This step is a vital part of the sales process that helps determine how the rest of the process goes. If done correctly, prospecting can help sales reps weed out those prospects who won’t make it through the sales process.
One way to identify your ideal customer is to look at people who have purchased from you and create profiles and buyer personas. This analysis can help you understand their challenges, why they bought from you, and learn how to sell your brand as a solution to their problems.
There are various forms of prospecting, both online and offline. Online marketing can include platforms like Quora, LinkedIn, or email. Offline tools like referrals, cold-calling prospects, conferences or webinars, and networking at industry events are helpful.
Lead Qualification
Next, it is vital to contact and connect with your prospects. This connection is crucial to determine if you are a good fit with your prospects based on your offerings. This qualification process can help determine if they will likely make it through the rest of the sales process.
Identify your quality leads and connect with your customers by asking questions like:
- What role do they play within their company?
- What are some of their day-to-day responsibilities?
- What problems are they trying to solve?
- Why is that problem a priority for their business?
- What other solutions are they considering?
You can stick with something more traditional. You can always use more common sales qualification methods to learn more about your prospects. Remember the methods BANT, CHAMP, or MEDDIC when determining if your products fit your prospect’s needs.
Research & Approval
Now is the time for the sales rep to learn more about each prospect and their company. When you put in effort researching your prospects, it puts you in their shoes to better understand their issues. This research is crucial to understanding your prospect’s needs, allowing you to establish your product as the solution.
Overall, make it a priority to understand what each prospect needs from your business. Then, tailor your sales pitch to your individual prospect’s needs and come closer to closing a deal.
Presentation & Pitch
Next up is presenting the product to your interested prospect. This presentation is critical after determining that the prospect is serious and that your product is appropriate for the client. It is essential to be knowledgeable and familiar with what you’re pitching, so take the time to get to know all the inner and outer workings and the process along the way.
Not all presentations and pitches are standard PowerPoint presentations with a sales spiel attached. Tailor your presentation to fit what you have learned about them. By now, you should have actively been listening to their needs, and this is where you will put that info into action.
A proper pitch can be time-consuming, so the sales process is imperative to follow. Don’t waste time pitching to clients who won’t benefit from your services.
Objection Handling
Before making an important decision, your client might have some questions. These objections can range from price and value to the content of the offer and more. When these concerns arise, don’t be aggressive or pressure your prospect. Don’t lie to them, either.
Offer them an explanation that addresses their objections in a way that makes sense to all. If you have to, ask more questions about their concerns to see if you can understand where they are coming from. And remember, listening is crucial. Don’t try to prepare what you will say when they talk to you. Listen closely to what they are saying. You might have to “read between the lines” to get the best answers.
Closing
It’s closing time! Closing processes look a little bit different from company to company. Maybe you have to deliver a quote, get a contract signed, or even finalize negotiations. Keep in mind that this is a step that every sales rep wants to reach.
Need help with closing the deal? Check out some closing techniques that sales reps use to close their deals. Look at adopting one of those ways into your work and change it to fit your style!
Follow-Up
While this might shock some, just because you close the sale doesn’t mean your work is complete. A sales rep needs to continue to nurture customers. Communicate with them and reinforce your brand values. And if all goes well, your customers will spread the word about your business, bringing referrals and more delighted customers!
