Looking to increase your clients and customers, close more deals and maintain and retain relationships? The following seven-step sales process provides an outline that can be used as a guide across all industries. 1. Prospecting
The first step is to identify potential customers and then evaluate whether they have a need for your product or service and if they can actually afford your price point. For example, if you’re a wholesale butcher you’re not going to pitch to a vegetarian restaurant who would have no need for your products.
Once you have identified the potential client, it’s time to identify who the decision-makers are. You might have a great sales pitch but it’s wasted if you’re delivering it to the wrong person.
2. Preparation Once you’ve identified your potential client it’s time to prepare. Gather all the relevant information about your product or service, so that you all have all the research and details ready for when the prospects asks questions. Take time to learn about the potential client and their business needs too, that way you can tailor your approach to best suit them. 3. Approach Once you’ve completed your research, it’s time to approach the prospect. Remember first impressions count, you don’t want to dive straight in with your sales pitch, no one wants to feel like they’re instantly being sold to. Instead take time to build up rapport, make general small talk, ask some questions to get the prospect interested - you’re more likely to buy from someone you have a good relationship with.
4. Presentation The first three steps have led up to this, the presentation. Remember you don’t have to be too ‘salesy’ nor do you have to drive home every single point about your product. Rather, you want to outline the key benefits that will meet your prospects’ needs. Take time to listen to what they’re saying and pitch accordingly. If a construction company has told you that they’re looking for new work jackets that are more durable, focus your pitch on the durability of the materials that you’ve used and why they are more hardwearing than their current jackets rather than their price. 5. Objections
It’d be great if everyone said yes straight away, but the chances are you’re going to come against some objections. Rather than give up after one rejection, as approximately 44% of salespeople do, listen to the objections and address them - it takes around five objections before someone says yes. If they’re nervous about switching suppliers, provide them with the product statistics and case studies. If it’s the cost that’s holding them back, break down the costs so they can see the value in your product or offering. Alternatively you could offer a short free trial for them to experience your product or service or add value to your offering without reducing the price. You want your prospect to feel confident and assured as they go into the closing stage .
After completing the previous five points, now is the time to close the deal. This will differ depending on your business.
Offer a discount or limited offer to get a client on board, but there’s a danger in discounting.
Create a sense of urgency and say that time is of the essence, such as ‘We only have two spaces left for this current course’.
Assume the sale has been made and ask a question where both answers close the deal ‘How would you like to pay for that, up front or in monthly installments?’
Ask questions that will have the client answering positively: ‘Having heard about our jackets, does it sound like they are more durable and suitable for your company?’ If they answer yes, then you know that you have met their needs and you can close the deal.
7. Follow-Up Once you have closed the deal, it’s important to maintain your relationship with the client, not only are you likely to get repeat business from them, which is easier than constantly looking for new clients, but also referrals for other potential clients. If you are looking for help with your selling process get in contact with Tauranga accountants, Grace Team Accounting, who offer business planning and business coaching alongside their accountancy services.