What is the sales cycle?
The B2B sales cycle
The business cycle: 5 mistakes you should not make in B2B
1. Not updating your sales techniques
2. Not taking care of your after-sales service and customer loyalty
3.
CRM
Websites and social networks
Not using LinkedIn™ yet?
4. Not realizing that your sales cycle is complex
5. Don't try to speed up your sales cycle
Qualify your prospect
Target your prospect
Feeding the prospect's mind
Train your sales reps in Sales Enablement
At what stage do sales most often fail?
Sales cycle, in conclusion
Sales cycle, summarized in 5 questions
Do you want to improve your business performance? You have launched a new product on the market and you are wondering if you will meet your goals in terms of turnover and gross margin. Do you know the sales cycle ? The sales cycle is a central concept in marketing that defines the key stages in the sale of a product or service: launch, support, maintenance and relaunch. In this article we give you specific advice to avoid the 5 mistakes you should not make in BtoB.
Sales cycle: 5 mistakes you should not make in B2B
What is the sales cycle?
The sales cycle is made up of the steps required to sell a product or service. The cycle begins after prospecting and ends with the sale and after-sales service. It consists of 7 distinct stages that are all business processes:
contact your prospect;
listen to him to know his needs;
argue to propose a solution;
respond to their objections;
make a commercial offer;
complete the sale ;
deliver the product or service.
Managing your sales cycle helps you convert your contacts into customers and keep them coming back for new sales. By mapping your sales cycle, you can reorganize your sales team with the goal of increasing your sales and potential.
The B2B sales cycle
The B2C sales cycle, which is usually short or even instinctive, concerns only one person. In B2B, the purchase is more carefully thought out and often depends on a larger number of interlocutors. The larger the company, the more complex the purchasing process becomes, but the bigger the company can buy and the higher the stakes. In B2B, it is often necessary to draw up a quote, deploy a complex sales pitch, attend several appointments or take positions in tenders.
sales cycle
Depending on the size of the company, the level of urgency of its need, the complexity of the problem, financial resources, internal organization, or even the personality of the decision-makers, each stage of the sales journey lasts from several weeks to several months.
In this context, not taking into account the sales cycle in B2B risks leading to failure. Because how can you guide or help your salespeople if you don't know what stage your contacts are in? And how do you measure the performance of your sales force?
We will see that some errors are fatal, but what are they really?
The business cycle: 5 mistakes you should not make in B2B
1. Not updating your sales techniques
Technologies evolve and so do customs! Here are 8 sales techniques applicable canada whatsapp number data in B2B to avoid slowing down your turnover :
The SONCAS method is inspired by Maslow's pyramid. It helps you identify a potential customer's motivations based on rational (security, comfort, money) and irrational (pride, novelty, sympathy) behavioural data.
The SPANCO method is a classic sales technique. SPANCO is thus based on 6 stages of the sales cycle: Suspicion (identify the target), Prospect (contact), Analysis (active listening), Negotiation, Conclusion, Order.
The definition of CAB (Features, Advantages, Benefits) is to identify and present powerful arguments that meet your target's expectations. This tool also structures your sales pitch.
SPIN selling is all about listening to the customer. It consists of asking the customer 4 questions about these 4 aspects: Situation, Problem(s), Implications, Need for payment (results), in order to guide them towards the purchase decision.
Challenger Sales : The seller deploys tools to educate the prospect/customer following a personalized approach (information sales) that will lead the target to change their view of the world.
Consultative selling (Sandler) : the salesperson has mastered his subject perfectly in order to satisfy the client's needs. He establishes a relationship of trust and plays on the long-term relationship by placing the client at the centre of the sale.
The Selling Solution : its definition is based on the solution that your services can offer to the client's problem, rather than your product itself.