Author Topic: Managing the Sales Cycle  (Read 453 times)

bbasujon

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Managing the Sales Cycle
« on: June 08, 2012, 04:24:52 AM »
What is a Sales Cycle ?

Sales cycle refers to the various processes which help the products reach the end users. Customers go through a sequence of activities before the product finally reaches them. Such activities are a part of the sales cycle.

A sales cycle has the following steps:

    Identifying Prospects
        The first step in the sales cycle is to make a list of potential customers.
        Try to gather as much data as you can. Ask your team members to visit markets, shopping malls, restaurants to map potential customers and collect information about them
        Placing canopies at strategic locations also invite potential customers.
        A sales professional should ideally spend his maximum time outside office meeting people. Interact with as many individuals as you can.
        Distribute questionnaires amongst the potential customers to know them better.

    Setting Appointments
        The next step is to make the people aware of your product and its offerings.
        Try to get in touch with the people. Call them and seek an appointment.
        Donít arrange meetings at your convenience.
        Take his address and courier relevant information brochures beforehand for him to know more about your product and its benefits.
        Marketers also depend on cold calls to inform the customers about their products and services. Donít be after the individualís life to fix an appointment.
        Do take care of your pitch while speaking over the phone. Make your speech interesting. Donít drag conversations.

    Know Your Customer Well
        It really helps if you know something about your client before meeting him.
        Try to gain some information about him from social networking sites like facebook, orkut, linked in, twitter and so on. These networking sites do give some information about the client which definitely helps in preparing the sales pitch.
        Understand the customerís needs and expectations from the product. Check whether the customer has the potential to purchase a particular product or not. There is no point selling an air-conditioner to someone whose monthly income is Rs 10000/-. Find out more about the background of the customer.

    Determine Clientís Solution
        Suggest the right option for the customers. A sales representative must never lie to the customers. Say what your product actually offers.
        It is unprofessional to make false commitments. Sit with the customer and help him with the best solutions. Donít always think about your own targets and incentives. Think from the customerís perspective as well. Donít prompt him to buy something which you yourself feel is not right for him.

    Written Proposal/Document
        Once the customer decides on the product, present a proposal to him with the proposed rates and other necessary terms and conditions.

    Negotiation Round
        There should always be room for negotiation in deals. Donít be too rigid. Negotiate with an open mind.
        The customers should be aware of even the minutest details. For higher customer satisfaction, give him the best deal.
        A sales professional should always aim to close the deal as soon as both the parties accept the terms and conditions.

    After Sales Service
        Make sure customers are satisfied with your service.
        Find out whether all his demands are fulfilled or not.
        Be in touch with him even after the deal is over.