In this blog I will walk you through the 6 steps of a sales process, what it is and why it is so important to follow not only for increasing revenue, saving time, accuracy in forecasting but also to ensure you have a long successful career in sales.
What is a Sales Process?
A sales process is a set of steps that all sales people should follow. It’s the customers journey; from the early stages of making the customer realise they have a need for your product to the close of the sale and asking for referrals.
Each step is equally vital to ensure you maximise your closing rate and continue to build and nurture your sales pipeline.
Step 1 – Lead Generation
This is also known as prospecting. This is where you research potential clients who fit your target market. Take a look at your previous and existing clients. What do they have in common? Who are the people most likely to benefit from your product? Build your list and take your time thinking of the best ways and channels you can use to contact them. After all you don’t want to waste your time pitching to clients who don’t need your product. The more quality research you can do at this time the better.
Tip: For manual B2B I like to use LinkedIn. In fact the majority of my closed deals have come from this platform. You know who the decision maker is and also have some or all of their contact details. You can understand the client a little better professionally by looking at previous history and what they post and like.
If you’re not a fan of this step or feel your time can be better spent elsewhere using companies like us can take away this boring and time consuming step. Qube Media can help you generate quality leads for you real estate agency.
Book a Free Strategy Call now to find out how!
Step 2 – First Contact
This is where you make contact with the potential client. Remember you need to be memorable, to the point and energised. Like an elevator pitch you have a small amount of time to make an impression on the potential client to give you their attention and time.
Tip: I like to use AIDA which was embedded in me early in my banking career days.
A – Attention – Introduce yourself, who you are and where you are calling from. Make sure you have the persons attention. Ensure they have time to talk and are not distracted.
I – Interest – Get their interest! Tell them the reason why you are contacting them and how you can help them.
D – Desire – Keep building desire! Don’t go into too much detail selling your products as you really want to book an appointment or be able to swiftly move on to the next step without wasting anyone’s time or sounding like a pushy sales person. Ask them their concerns and the reply explaining how your product can benefit them. Use examples of similar clients who you have helped and what impact that had on them.
A- Action. This is where you book a follow up call/appointment or move on to the next step of the sales process.
Now you have built interest and desire with the customer. This is the part where you make sure they are the right fit and can afford your product. Ask plenty of open questions such as budget, where do they see themselves in the 2-5 years time, what are they looking for and what have they thought about. Don’t forget to find out who they are, what they like and find out any common interests you may have. Building rapport is crucial in every step. You want the client to trust you and know you are the expert in that area. Once you have a strong rapport the client is less likely to go to a competitor. Always summarise with the customer to ensure you fully understand what they are saying, meaning and feeling. It also helps the customer to realise what they want and that you’re the person to help them find it.
Tip: Write up a check list document so you know you are asking the right questions every time. This will help with consistency and ensure you don’t miss anything crucial out. The more quality information both soft and hard facts you get from them the first time round will help you get the right product for that customer in the most time efficient manner.
4. Present Solutions
Here is where you show the customer why all the time and questions you asked them in the previous step was beneficial to both you and them. Show them that you understood them and are matching their needs with your solutions. Don’t present too many solutions but nail down to most important ones. Remember less is more you don’t want to give them so many options that it makes it harder for them to make a decision.
Tip: Use their words – ‘I recommend property A because you said …….. this property does that and ………’ Add a couple more benefits but personalise it them so you are now showing value for money within their budget. The more benefits for the customer the more likely they are to buy from you.
5. Handle Objections
As long as you have successfully completed the previous steps, these will be more like confirming questions and buying signs. The customer sometimes needs reminding and justifying what they need and want. They will also want to double even triple check why your product meets and exceeds their needs.
Tip: Answer these questions professionally and to the point. Show them you understood what they are after and remind them how this product will better their lives.
6. Close the Deal
Once you have handled all the previous steps effectively the close should come naturally. Remember not to over sell. Don’t give the the client any excuses to rethink their decision nor question your judgement. Once you hear ‘ok, let’s do it, i’ll take it’ or something similar stop selling and start processing the paperwork.
Tip: Remember to follow up on any commitments you made during the sales process. Once paperwork is complete and payment has been made. Ask for a review and if they have any friends or contacts who they think would benefit from talking to you also.
So there you have it the sales process broken down into 6 simple steps. Follow this and you will be sure to improve your conversion rates as well as building a quality sales pipeline. If you’re struggling for quality leads or this step of the process takes too long or you can’t seem to get a consistent flow. Or you just want to spend more time closing clients as that’s your favourite part and where you make the most money then call Qube Media today to see whether your postcode is still available.
I hope you enjoyed reading this as much as I did writing and sharing this with you!
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Until next time.