A sales process is not just a series of steps. It is the beginning of your improved conversation with the prospect, more closed leads, and higher revenues for your business. There are many factors that affect your overall sales efforts. Everything matters, from how you sell to how you engage with your customers. But an effective sales process is something that makes a huge difference to your overall sales efforts. You need a trusted process to ensure that your sales reps are able to provide customers with positive and consistent experiences.
What is a sales process?
A sales process is a structured action taken by sales development reps to turn a prospect into a regular customer. A strong sales process gives a blueprint to the sales reps to help them implement their strategies effectively and consistently close more leads.
Here are the steps to create a sales process that effectively turns your prospects into customers:
This is one of the most vital parts of the sales process where sales development reps perform in-depth research on sites such as LinkedIn or Quora to list some of the ideal prospects to whom they can try and sell their product. Several companies create a buyer persona to identify the demographic, psychographic (needs, wants, and behaviours), and communication preferences.
Connecting and qualifying leads
Reps can identify qualified leads over a “connect” call by asking qualifying questions like these: What is your role within the company? What do you do day-to-day?”.
A common mistake that reps make at this stage, when they’re just getting to know someone on the phone, is assuming too much and jumping to conclusions.
Another way you might find yourself qualified leads in this step of the sales process is by using LinkedIn or another professional network site.
Performing in-depth research about the company
The next step of the sales process is doing research on prospects and companies. This will help your reps better understand the customer’s needs, which increases their chances of closing a deal. In order to do this effectively, they need to get an in-depth understanding of each prospect’s challenges and problems as well as establish themselves as a solution for them by relating their product or service with these struggles that customers face. You might need your rep to speak with people in other departments within that company for more information about its business objectives so keep this in mind when training them.
Pitch your product
The last step in the sales process is typically for your company to demonstrate their product or service. This is a time-consuming step and it’s reserved for more qualified prospects, which means you should place this earlier on in the sale process before they become less relevant. In order to tailor each presentation, make sure you meet the prospect’s specific needs with an engineer or executive included in these demonstrations that can answer any technical questions.
You can’t expect a prospect to have no objections to your product, even if you believe it is the best in the market. Your reps should be prepared for anything and everything that could come up during these discussions; through their research and presentation preparation, they should identify possible concerns about cost or other parts of proposed contracts.
Closing the lead
At this point in the sales process, there are several late-stage activities that take place in closing the lead. In some companies, it would include delivering quotes or proposals, negotiating with prospects and achieving buy-in from decision-makers. Closing is what every salesperson wants to achieve; it should result in a mutually beneficial contractual agreement between the prospect and seller. Once closed, however, salespeople will receive commissions on negotiated price points agreed upon by parties involved and the account usually passes over to an account manager or customer success representative.
Developing a powerful sales process is the key for converting prospects into regular customers and generating higher revenue for your business. Follow these steps to establish a better experience for your prospects, and boost conversations.