How to speed up the sales cycle for complex products
Commercial Management

How to speed up the sales cycle for complex products

One of the keys for your business to be successful is to know how to prepare a solid sales process. Generating transactions faster and finding ways to speed up the sales cycle is a variable that is hard to reduce in all business processes, but especially in products that involve complex sales. In order to accomplish this, there are some guidelines that will help your sales force attain more sales in less time. Furthermore, the use of mobile technologies and automation tools will be useful to streamline sales and obtain a higher profitability and growth for your business. In this post we will show you how.

A product’s sales cycle includes the steps which a lead goes through before becoming a customer and purchasing the product. Its purpose is to define the steps to follow during a sale, in addition to guiding the sales and marketing strategy.

Correctly structuring these stages is essential in order to perform an optimal sales management and outline a strategy that helps capture our target audience and turn it into customers. One of the main obstacles in the construction of the sales process is identifying and determining adequate stages for each business and product on offer.

But, how do we know we are doing it right? Even though there is no single recipe for success, we can however find certain stages in the sales process that can help any company to reduce times and speed up the sales cycle.

 

Strategies to speed up the sales cycle for complex products

 

Tailor your catalogues to your customers

Your leads increasingly demand more personalised and detailed information. Which is why, at the time of the sales visit, having a catalogue that is tailored to each of our customers will be the difference that results on a positive and effective sales experience. One of the most important allies when personalising your catalogues are Mobile CRM tools, such as inaCátalog, which allows you to manage the relationship with your customers, by knowing their behaviour and anticipating their needs. 

On the other hand, having a catalogue of this kind, that is updated in real-time and has complete automated stock information, provides our sales force independence from the central office to offer available products, show more information of a product, know new products and services, etc.

Start with a quick sale

A good way to attract clients quickly is offering them some products specifically created for fast sales. The simple characteristics and the clear benefits that they provide to the user are a good way to get their attention and steer the conversation toward a more complex sale.

Boost revenue with upselling and cross-selling techniques

If your company has a wide range of products, cross-selling and upselling techniques will be of great help. Upselling consists in encouraging the lead to acquire top-of-the-range products, increase consumption of those they already use, or obtaining additional ones. On the other hand, the cross-selling strategy is based on recommending related items in order to supplement the sale of those that are already consumed by our customers.

Prepare and update your databases

Knowing our customers’ needs and interests in-depth is paramount both for detecting possible business opportunities and to successfully apply supplementary sales strategies. Having a solid and updated database will allow us to target prospective customers and access their records to know any detail that will help us improve our business relationship. 

Thanks to databases you will be able to effectively manage your lists, identifying the highest-qualified contacts in order to assign them to the sales department, and working with various segments of the lists to steer leads through the different phases of the conversion funnel.

Perform on-site data report

Once the visit is over, making a full on-site data report (at the very location where the sale takes place) implies collecting as much useful information as possible for future visits. In this way you can achieve shorter and more efficient sales visits and an automatic addition of orders at your company, which translates into a reduction of time and costs.

Once these strategies to speed up the sales cycle of a complex product have been implemented, our sales force will be able to apply certain techniques and pieces of advice for an effective sales management.

Speed up the sales cycle

 

Resources for an effective sales management

According to Carolina Sanchiz, B2B marketing and sales expert and author of the Vender en Positivo blog, there are a series of resources to speed up sales that can be summed up as follows:

  • Offer a differentiating value: ask your customers, co-workers or partners what they think about you and your products. This answer will give you an initial message; improve it and practice it in order to create your value proposal.
  • Focus on the needs of your customer: the more information we have about our prospective customer, the better we will be able to connect his needs with our brand’s goals and try to satisfy them.
  • Generate trust: driving a person toward a sale is a very important step that cannot take place if you haven’t yet built trust.
    Offering references, success stories and examples about how others have been helped by the product or service is a good way to demonstrate its benefits and lead to the purchase decision.
  • Plan the visit: what is the goal of this conversation? Each customer is at a different point of the sales cycle, and therefore, needs a different response by our sales force. Outline a plan before each visit and obtain a clear conclusion afterwards will prevent the sales cycle from stagnating.
  • Face feedback and manage objections: even though it may seem an obstacle, customers’ objections are useful when selling. Why? Because questions and feedback let us know what the user is interested in. Reply to inquiries as soon as possible to continue with the process.

Continue reading: Boost the commercial profitability with a sales report

  • Persist: in order to close a complex sale you need, on average, five conversations with the lead. This is why you cannot set leads aside at the first visit if we believe that lead is good. If there is interest, persist so that it is not lost.

All of these guidelines may turn out to be more effective if you rely on technology. Mobile CRM tools help sales personnel not only at the moment of the sale, but they also offer the possibility to make on-site reports which can be accessed from any member of our team’s mobile device, and which allow for a much more thorough follow-up. Aids that are available for online and offline access in order for the automation of information to be much simpler. 

Simplify in order to improve the customer’s experience

Accelerating and simplifying the sales cycle can not only be useful to work smarter and improve the times of your sales team, but they can also make life easier for our prospective customers. It is not just about selling, but also about how to sell. That is where the customer’s experience comes into play.

Users demand value proposals that simplify the purchase process and make them feel satisfied about it. Do you want to offer personalised visits? Contact us and try our interactive catalogues.