Sales Cycle Example
Also Known As a Sales Process
This sales cycle applies to an initial remote or in-person sales call. There is no prospecting component.
The content below is my version of sales cycle I taught to a solar power company. There are so many variations and definitions for a sales cycle, I recommend that you use the terminology and structure best suited for your business. For more info: Google "Sales Cycle" or Contact Saratoga Sales consulting
Pre call preparation or Pre-approach - Prepare for your remote meeting or visit. Prepare yourself mentally with the right attitude for a sales call. Have the right amount of knowledge about your prospective customer prior to making contact. Understand why you are making contact with this individual. Set a goal for the outcome of this interaction.
Approach - This refers to establishing a rapport and earning the right to ask qualifying questions to determine that you are speaking to the right individual and you believe their could be opportunity for a sale.
Needs Analysis - This is a dialog with the customer speaking most of the time. Your job is to continue to ask relevant questions that keep the conversation going as you gather valuable information for your presentation and close. The prospects unique answers should lead to more questions from you that "dig deeper" and identify "pain points" that your prospect is experiencing. Find "pain points" that you can help resolve by doing business with one another. Create a sense of urgency to fix the pain. Now, transition the needs analysis into an opportunity to present your solutions.
Presentation - If you did a thorough job on the needs analysis, you will find the presentation to flow very smoothly to a close. The presentation is your opportunity to link the client's needs to your products' benefits. Present your solution, while you maintain a dialog and ask some trial close questions like, "wouldn't it be great if your "pain point" was fixed within a week?" "How much better would it be for you?"
Closing - Following your presentation transition with more trial closes that lead to closing questions utilizing various closing techniques. At the very least, ask for the order.
Objection Handling - I like to refer to this as a final consultation. Find out what the real objection is to doing business. Isolated that real objection and solve it.
Reclose - Attempt to close again. If successful, well done! If not, loop back to objection handling and try to reclose again. If you make the sale, well done! If not, ask for a referral and stay in touch.