Any Organization involve in selling a Product or Service following a defined sales process helps them to achieve the desired goals . There are typically 7 steps in a Sales process from identifying a customer till he becomes your loyal customer
1. PROSPECTING
This is a stage of process where Organization use different methods to find the leads- potential customer. You can analyze the past deal won , lost and understand the pattern of customers . Develop a sort of data base area wise . Some of the typical methods of Prospecting are,
Cold Calling – Direct Visits or Phone call
Cold Emailing
Conducting a Webinar or participating in Expo
Social media and social selling using tools such as LinkedIn Sales Navigator.
2. QUALIFICATION
This is a stage of process where how do you make your lead ready for initial conversation with your sales team. This is usually done by preparing a marketing content.
There are several methodologies used to quantify prospects.
1. A sales person can initiate visit or call to potential lead and understand whether their product meets the customer requirement.
2. Sales team team to follow it up with close end questions like When is the timeline of requirement ?whether budget allocated ? How is the present requirement met ? What are the decision-making and sign-off processes in your organization?
A genuine prospect will have a two way conversation which will indicate his interest toward the product or services of the organization. This will help to categorize the prospect as a good lead.
3. DEMONSTRATION OR PRESENTATION
This step cover the Sales team pitch to the lead .Preparing collaterals and decks and presenting the best solution to the lead. Give a product demo wherever applicable and building a rapport with customer is crucial at this stage . Listen and empathize with customer product challenger never force your product give sufficient time to evaluate.
4. EVALAUATION
In this step customer or lead evaluates the proposal in hand or free demo of any services or product offered. A free trial run of the product along with all features will help the customer understand the usage of the offering to their business. At this stage sales Team should be in touch with customer and help him in deciding on the requirement.
5. HANDLING OBJECTION /NEGOTIATONS
Any customer will not buy a product without raising any objections or queries . Based on the objection raised on product fitment , pricing or any other terms draft a common response covering all the points. Time line is important in giving a response .
By successfully negotiating the objections customer is convinced on the value of offering and ready to initiate to purchase . DO NOT SELL PRODUCT, SELL VALUE , CUSTOMERS WILL FOLLOW YOU.
6. CLOSING
This step involves a review of the contract to be signed with customer There is a mutual discussion on between two business and sign off is made. Billing is initiated and happens as per agreed terms and on boarding of customer starts.
7. FOLLOWUP
The sales process does not end when you close a deal. What are the steps an organization can do to keep their customer happy and in turn refer new customers. A happy testimony will help in finding more leads that cold calling hence always keep your existing customer happy.
A Sales process is robust when every process is followed and documented. An efficient and happy sales team will help you in achieving the company vision in long term and short term.
