The sales process can be a complex activity. A well thought out and executed sales process will result in increased sales for any company. There are a variety of factors that will affect the success of the sales process, but a comprehensive review of your sales process will yield the results you desire. In this article we’ll go over some common issues that impact the effectiveness of the sales process and provide you with ways to address these issues and increase your company’s profits!
* Steps in the Sales Process – Are all of the steps in your sales process appropriate? The first step in any sales activity should always be meeting the prospective client face to face. Developing an initial conversation that gets prospects emotionally involved is essential for a productive sales process. The prospect may have questions, and you should be able to answer those questions with ease. Taking time to engage with the prospect on an emotional level will ensure that the prospect becomes more responsive to your sales pitch.
* Sales Funnels – Can you track your success by looking at the return on your investment? Tracking your success after every sale is one important way to keep track of the sales process and how you are impacting the overall profitability of your company. Be sure to track the percent of prospects that converted, the average sale price, and the revenue gained per lead. Be sure to track the number of leads who have been turned down, and the number of leads who ultimately purchased from you. This can help you keep track of your return on investment (ROI) for your sales cycle.
* Closing the Deal – One of the most important aspects of the sales process is closing the deal. Often times it is difficult to know how much pressure is on you to close a deal once the prospect has come through the initial buying process and communicated their decision to buy with you. Be sure to know your closing percentage rate, the average time from the prospect initiating the buying process through to when you finally close the deal. This number can help you know just how to handle yourself in these critical times when you need to close the deal.
* Avoiding objection – In any sales process, there will always be some type of objection that a prospect might raise. The key to handling these objections is to simply respond to the objection without giving a reason why the objection is being raised. You must first identify the objection and then respond with why the objection is being raised. You must also be prepared to change the direction of the objection if necessary or to address the objection. Once you are able to remove or correct the objection, be sure to use appropriate language to make the sale more personal. This will help you cement the sale and close the deal more easily.
* Creating the Best Sales Experience – The sales process can be a challenge for reps. There will be times when you don’t get it right, or when prospects come through the door that does not match your personality or style. This is where having a good, detailed plan in place will help you in overcoming these obstacles. Include in the plan what types of steps you need to take to make the transition easy for you and for the prospect. Then record those steps in writing. These will be your “blessing shots” that will help you create a smooth, enjoyable experience for yourself and your prospects.