I can hear the moans already. But before you close down the video, think about how sales are the lifeline of every organization. They are the pulse, the gas pedal, and the one element a business needs for growth.
Large or small, someone in your company is in charge of cultivating relationships and closing deals. It may be the business owner doing all the work. Or you may have an entire sales division in charge of collecting, prospecting, and closing deals. At Blue Fish, if I cannot keep my pipeline full and hit my quota each month we can't make payroll. No payroll = No Blue Fish.
Before we get too far into the details I want to make a recommendation. If you are at all uncomfortable with the idea of sales, I want you to buy the book Sell or Be Sold by Grant Cardone. It talks about the various aspects of selling in everyday life. We are not talking about the silly tactics used by unskilled sales people trying to close you every 30 seconds. We are talking about you trying to convince your spouse to take a trip to the beach instead of the mountains.
Ok, now let’s look at the different stages of the sales cycle, all which are equally important.
1: Prospecting is the beginning of the cycle. This is the act of identifying consumers or businesses that could benefit from your product or service. There are many tactics for prospecting: networking events or groups, Social Media, your local Chamber of Commerce, local events, industry-specific organizations, even your network.
2: The next step, once you have identified the prospect, is to set an appointment. When doing this keep in mind that no one likes a high-pressure sales situation. Personally, I have always approached sales as an educational process. I try to build a relationship with people and let the process occur more organically.
Be sure to ask questions. Understand the company, their business, and their needs. Listen to what they have to say and understand any pain points they are experiencing. If you offer a service or product that is the solution they need then great. If not then at least you have met someone new. But don’t force the sale.
3: A crucial part of the sales cycle is being able to qualify a prospect. The quicker the better. There are many factors at play here. Is your prospect the decision maker, do they have a need, and do they have a budget? The quicker you can either qualify or disqualify a prospect, the better the experience for both parties.
4: Usually there is some sort of presentation you’ll need to give to show why your product or service is the best. This is where your professionalism and product knowledge will give you the chance to outshine the competition. Take this opportunity to highlight all the features that make your product or service better than the next, highlighting anything that speaks directly to a pain point for your prospect.
5: Handling objections are often the least favorite part of this process for most sales people. This is where I get excited. 99% of the time what you are hearing is not an objection at all, but more or less an observation. You may hear “well, that is expensive for a website.” To which you would reply, “It is more than squarespace, here is why.” Don’t take offense to objections. Answer the questions and help the prospect make an educated decision.
6: Let’s not forget the follow-up. This is where 80% of sales are won or lost. Did you know that 60+% of all sales are made on the 7th follow up? Yes, 7! We use Base CRM to track all our client touches. People are busy, if you are selling something most of the time you will get, “I need to think about it”. You should create a systematic approach to your follow-ups.
7: You think we are done but we are not. Most sales are lost because the sale is never explicitly requested. People rarely pull out money and hand it over without being prompted. So ask. And if they don’t buy, make the proper follow-ups.
8: If you have done your job well, the last item on our list should be a breeze. Ask for a referral. This should come at the end of EVERY sales process. There is no better place to find your next prospect than from that of a happy customer. And just like the close, if you do not ask for it, you will not get it!
Well, that’s a wrap for this week! I want to thank you for checking in. Make sure to hit that like button. And if you have any questions or comments leave them down below. If you want to talk about how Blue Fish can help you grow your business just send us a message and we’ll get the conversation started!
Don't forget to check us out everywhere else on the web:
Website - www.bluefishds.com
Facebook - facebook.com/bluefishds
Instagram - instagram.com/bluefishrocks