Is there anything you can do about your
sales cycle? We will discover there are many patterns in the sales
world. If we understand the patterns and what causes them, we have a
chance to shorten the sales cycle.
Many salespeople believe that their
sales cycle pattern is set, and it can't be sped up or done
differently. They are convinced that, "It is what it is," so they
follow the outline that has been laid out before them, convinced
that they are powerless to change things. The reason that the sales
cycle doesn't change is salespeople seldom try anything new or
different to reduce the length of time it takes to close the deal.
They guide the prospect through multiple meetings with many
different people, followed by the process of making a formal
proposal. The sales cycle can't get shorter if we don't look for
ways to improve it. Many times the sales cycle can be changed if the
salesperson makes an effort to change it. This doesn't mean that
every sale (in every kind of industry) can be closed in only one or
two calls. Some sales naturally take longer than others; however,
with some effort and strategy every sales cycle can usually be
shortened.
Sales cycles are rarely designed to
be efficient. They tend to follow a structure that has been
developed over time. One salesperson does what the others have done,
which is based upon what has been done over and over. Try making an
effort to identify where the sales cycle is becoming hung up. Ask
yourself whether there is a way to eliminate the bottleneck, or at
least help it along. (Chances are that you will identify several
things being done that are not totally necessary.) Be sure to be
realistic, though. A sales cycle that usually includes five meetings
and a formal proposal, followed with an elaborate presentation to a
committee, will not become a one-call close. Put some thought into
it, and determine whether five meetings could become three or four.
Decide what needs to happen to make that a reality. Find a few
things that could happen better and work more efficiently, and that
should make a big difference in how quickly you can progress through
the sales cycle.
So how do you put your new strategy
into action? You've already completed the most difficult part
because you have developed a plan for what the sales cycle should
look like. Now, the next step is to guide the prospect into
following your plan. To accomplish this, you have to first make the
prospect aware of the process. For example, if you want to see two
people at once instead of meeting with each one separately, you need
to let them know this in advance. You also have to be firm. Don't
allow them to shift back and forth about who will be there. You are
the expert. Guide them. Use the word "typically." This word sets the
standard and presents the prospect with the norm. Most people are
reluctant to go against the grain. If you present something as "what
is typically done," prospects will generally agree. This can enable
you to guide them into a more efficient sales cycle, which in turn
closes the deal sooner. If you make an effort to shorten your sales
cycle by making a plan and sticking to it, "typically" you will be
successful.
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Sandler Systems, Inc. All rights
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